Microvision Q2 Earnings Call Highlights

Microvision NASDAQ: MVIS reported second-quarter 2026 revenue of $1.5 million, up $1.3 million from the prior-year period, as the LiDAR company cited sales of its long-range IRIS sensors, short-range MOVIA L sensors and semiconductor engineering services. Management reiterated its full-year revenue outlook of $10 million to $16 million and raised its gross-margin forecast. Chief Executive Officer Glen DeVos said the company’s “LiDAR 2.0” strategy is shifting MicroVision from a hardware-focused automotive supplier toward a LiDAR-based perception company serving industrial, security and defense, automotive, robotics, artificial intelligence and aerial-autonomy markets.

Interim Chief Financial Officer Steph Hrynewich said product sales represented the principal driver of second-quarter revenue. Long-range IRIS sensors accounted for the predominant portion, while MOVIA L contributed a smaller amount. About 15% of revenue came from engineering services related to the company’s semiconductor business. Industrial and security-and-defense customers were the primary sources of revenue during the quarter. For the first six months of 2026, MicroVision generated $2.4 million in revenue, an increase of $1.7 million from the first half of 2025. The company said roughly 75% of first-half revenue was tied to the portfolio expansion resulting from its acquisitions earlier this year.

Second-quarter gross margin was 44%, compared with a gross-margin loss a year earlier. First-half gross margin was 42%, also compared with a loss in the prior-year period. Hrynewich attributed the improvement to favorable product mix from acquired IRIS inventory and supply-chain efficiencies. The company lifted its full-year gross-margin guidance to 40% to 45%, from a previous range of 35% to 40%. DeVos said MicroVision expects long-term gross margin to fall between 40% and 50%, with higher margins possible for products that include more software and perception features or address defense applications.

Cash used in operations plus capital expenditures totaled $19.5 million in the second quarter and $36 million in the first half. Excluding acquisition-related expenses and restructuring charges, cash use was $17.4 million for the quarter and $33.8 million for the first half. Hrynewich said second-quarter cash use increased sequentially because of non-recurring payments tied to post-acquisition consolidation, including a workforce reduction at the company’s Redmond location.