Microvision (MVIS) AI Stock Analysis

• Market Cap: $291.56M
• Dividend Yield: N/A
• Average Volume (3M): 4.83M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.57
• Revenue Growth: -35.31%
• EPS Growth: -2.18%
• Country: US
• Employees: 185
• Sector: Technology
• Sector Strength: 51
• Industry: Hardware, Equipment & Parts
• EPS (TTM): -0.46
• Shares Outstanding: 245,004,790
• 10 Day Avg. Volume: 4,317,648
• 30 Day Avg. Volume: 4,831,255
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): 39.79
• Price to Cash Flow (P/CF): -5.80
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $3.00
• Price Target Upside: 152.10% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

Microvision's stock score is weighed down by its financial challenges and valuation concerns, despite some positive signals from technical analysis. The earnings call reflected optimism in industrial sectors, but revenue shortfalls and automotive delays pose risks. Strategic focus on revenue growth and cost management is essential for improvement.

Microvision Business Overview & Revenue Model

Company Description

MicroVision, Inc. develops lidar sensors used in automotive safety and autonomous driving applications. Its laser beam scanning technology is based on micro-electrical mechanical systems, laser diodes, opto-mechanics, electronics, algorithms, and software. The company also develops micro-display concepts and designs for head-mounted augmented reality (AR) headsets, as well as 1440i MEMS module that can support AR headsets; Interactive Display modules used in smart speakers and other devices; and Consumer Lidar used in smart home systems. In addition, it provides PicoP, a scanning technology that creates full color, high-contrast, and uniform image over the entire field-of-view from a small and thin module. Further, the company develops 1st generation long range lidar. The company sells its products primarily to original equipment manufacturers and original design manufacturers. MicroVision, Inc. was founded in 1993 and is headquartered in Redmond, Washington.

How the Company Makes Money

MicroVision generates revenue through the sale and licensing of its patented laser scanning technology and related components. The company partners with original equipment manufacturers (OEMs) and other technology companies to integrate its PicoP® scanning technology into various applications, such as automotive HUDs and consumer electronics. Additionally, MicroVision earns income from licensing agreements, where it permits other companies to use its proprietary technology, and from development contracts where it collaborates on custom solutions. Significant factors contributing to its earnings include strategic partnerships in the automotive sector and advancements in augmented reality applications.

Microvision Financial Statement Overview

Summary

Microvision is facing significant financial challenges, marked by declining revenues, negative profit margins, and high leverage. While the balance sheet shows some stability with reasonable cash levels, negative cash flows and reliance on financing activities indicate liquidity concerns.

Income Statement

Microvision's financial performance is weak with declining revenues and negative margins. The company reported a significant net loss in TTM (Trailing-Twelve-Months) at -$96.9M, with negative gross and net profit margins. Revenue growth remains negative, indicating challenges in achieving sales expansion. The EBIT and EBITDA margins are also deeply negative, reflecting substantial operational challenges.

Balance Sheet

The balance sheet shows some stability with a reasonable level of cash and equivalents ($74.7M) relative to total assets. However, the debt-to-equity ratio is elevated at 0.88, suggesting higher leverage risks. Stockholders' equity has declined, impacting the equity ratio which stands at 40.26%. Return on equity is negative due to continuing losses, indicating inefficiencies in using shareholder capital.

Cash Flow

Cash flow analysis indicates liquidity concerns, with negative free cash flow growth and a high operating cash flow to net income ratio due to substantial operating losses. The company is heavily reliant on financing activities to support operations, raising concerns about sustainability without a clear path to positive cash flows.

Breakdown
TTM	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Income Statement		Total Revenue
4.70M	7.26M	664.00K	2.50M	3.09M	8.89M
	Gross Profit
-6.40M	4.49M	564.00K	2.50M	1.69M	322.00K
	EBIT
-82.49M	-88.88M	-53.89M	-43.87M	-14.06M	-26.47M
	EBITDA
-85.07M	-81.05M	-50.84M	-42.41M	-13.10M	-25.28M
	Net Income Common Stockholders
-96.92M	-82.84M	-52.29M	-41.04M	-12.22M	-24.83M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
35.64M	73.78M	82.71M	115.37M	16.86M	5.84M
	Total Assets
46.33M	129.63M	115.00M	130.22M	21.01M	11.84M
	Total Debt
951.00K	15.04M	15.70M	6.27M	3.11M	2.04M
	Net Debt
-32.08M	-30.13M	-4.84M	-76.38M	-13.76M	-3.80M
	Total Liabilities
12.87M	33.83M	25.25M	17.47M	12.00M	15.81M
	Stockholders Equity
33.46M	95.80M	89.74M	112.75M	9.01M	-3.98M
Cash Flow		Free Cash Flow
-68.91M	-69.03M	-42.38M	-31.90M	-16.48M	-24.79M
	Operating Cash Flow
-68.54M	-67.09M	-38.02M	-29.40M	-16.07M	-24.04M
	Investing Cash Flow
2.67M	21.82M	-38.07M	-35.32M	123.00K	-745.00K
	Financing Cash Flow
72.89M	72.44M	14.31M	131.16M	26.98M	16.86M

Microvision Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.19
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MVIS, the sentiment is Negative. The current price of 1.19 is below the 20-day moving average (MA) of 1.27, below the 50-day MA of 1.32, and above the 200-day MA of 1.16, indicating a neutral trend. The MACD of -0.03 indicates Positive momentum. The RSI at 46.05 is Neutral, neither overbought nor oversold. The STOCH value of 63.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MVIS.

Microvision Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ALNT	66 Neutral	$359.14M	26.72	5.10%	0.57%	-8.41%	-47.10%
Sector *	58 Neutral	$11.04B	9.83	-6.56%	3.16%	7.59%	-10.43%
OUST	56 Neutral	$379.59M	―	-53.83%	―	33.41%	81.07%
BKSY	54 Neutral	$230.02M	―	-60.94%	―	8.04%	5.52%
MVIS	49 Neutral	$291.56M	―	-134.07%	―	-35.31%	-2.18%
KULR	46 Neutral	$346.96M	―	-63.44%	―	9.23%	51.61%
SATL	40 Underperform	$433.85M	―	-118.08%	―	―	―

Microvision Corporate Events

Microvision Secures $75M for Lidar Market Expansion

MicroVision, Inc. has bolstered its financial footing by securing a $75 million capital commitment through a two-year senior secured convertible note agreement with High Trail Capital. This move positions the company to explore new revenue opportunities in 2025 with its integrated lidar and software solutions, targeting heavy equipment and automotive markets. The deal, characterized by flexible conversion terms and attractive financing conditions, enhances MicroVision’s competitive stance in the U.S. and European lidar sectors, paving the way for future growth and shareholder value.