Q2 FY2026
Filed Aug 6, 2026MicroVision Reports Second Quarter 2026 Results and Highlights Commercial Momentum Across Multiple Markets
Revenue increased to $1.5 million from $0.2 million, but operating expenses, net loss and cash used in operations increased, while cash and cash equivalents declined to $27.2 million.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| RevenueGAAP | $1.5 million | – | – |
| Total operating expensesGAAP | $24.9 million | – | – |
| Net lossGAAP | $36.9 million | – | – |
| Net loss per shareGAAP | $1.66 per share | – | – |
| Adjusted EBITDAnon-GAAP | $18.8 million loss | – | – |
| Cash used in operationsGAAP | $19.1 million | – | – |
full-year 2026 outlook
- NoteCash burn: approximately $60 million
What drove it
- Revenue was primarily driven by a greater volume of sensors shipped and development revenue during the second quarter of 2026.
- The Company launched the MOVIA™ Air product family, including MOVIA™ Air and MOVIA™ Air Plus, for drones, autonomous aircraft and defense applications.
- The Company signed a long-term development agreement with a construction and mining equipment OEM to integrate IRIS lidar into next-generation autonomous hauling vehicles and bridge to next-generation HALO lidar integration.
- The Company reported active customer evaluations across robotics, autonomous systems, aerial logistics and delivery, ground autonomy, industrial automation, aerospace, defense and artificial intelligence applications.
- The Company launched MicroVision Semiconductor to expand custom ASIC, mixed-signal IC and advanced imaging capabilities.
- The Company strengthened its executive leadership team with the appointments of James Byun as Chief Commercial Officer and Cara Klaer as Head of Marketing & Communications.
Concerns
- Total operating expenses were $24.9 million compared to $14.1 million for the second quarter of 2025, primarily relating to acquisition costs and integration and consolidation activities.
- Net loss was $36.9 million compared to a net loss of $14.2 million for the second quarter of 2025.
- Cash used in operations was $19.1 million and included non-recurring acquisition and consolidation payments.
- Cash and cash equivalents, including investment securities, were $27.2 million at the end of the second quarter of 2026.
- The Company expects future financing activities to support continued execution of its strategic plan.
- Access to $68.4 million of capital is subject to certain conditions.
What to watch
- Conversion of active customer evaluations and pre-launch partnerships into revenue.
- Execution of the long-term development agreement for autonomous hauling vehicles and the bridge to next-generation HALO lidar integration.
- Second-half cash usage following the Company's expected normalization after non-recurring first-half cash usage.
- Acquisition integration, consolidation activities and anticipated acquisition synergies.
- Future financing activities and availability under the existing ATM facility.
Balance sheet and cash flow
- The Company ended the second quarter of 2026 with $27.2 million in cash and cash equivalents, including investment securities, compared to $74.8 million at December 31, 2025.
- As of June 30, 2026, the Company has access to $68.4 million of capital, subject to certain conditions, including $41.2 million under its existing ATM, or at-the-market, facility.
- Cash used in operations in the second quarter of 2026 was $19.1 million, which includes non-recurring payments related to acquisition and consolidation activities, compared to cash used in operations in the second quarter of 2025 of $12.7 million.
Analysis
MicroVision reported Q2 2026 revenue of $1.5 million, compared to $0.2 million in the second quarter of 2025. The company attributed the increase primarily to a greater volume of sensors shipped and development revenue. Commercial activity included the MOVIA™ Air launch, shipments of IRIS and MOVIA sensors, customer evaluations across target markets, and a long-term development agreement involving IRIS lidar for autonomous hauling vehicles.
The improved revenue level did not offset a materially higher cost base. Total operating expenses were $24.9 million, compared to $14.1 million in the second quarter of 2025, with the increase primarily related to acquisitions and related integration and consolidation activity. GAAP net loss was $36.9 million, or $1.66 per share, versus a $14.2 million loss, or $0.84 per share, in the prior-year quarter. Adjusted EBITDA was a $18.8 million loss compared with a $11.2 million loss.
Cash usage and liquidity remain central considerations. Cash used in operations was $19.1 million, including non-recurring payments related to acquisition and consolidation activities, compared with $12.7 million in the second quarter of 2025. The company ended the quarter with $27.2 million in cash and cash equivalents, including investment securities, compared with $74.8 million at December 31, 2025. It also disclosed access to $68.4 million of capital, subject to certain conditions, including $41.2 million under its existing ATM facility, and expects future financing activities to support its strategic plan.
Management improved full-year cash burn guidance to approximately $60 million, citing expected second-half normalization following non-recurring first-half cash usage, operational discipline and acquisition synergies. The disclosed outlook does not provide revenue, gross-margin, operating-expense or tax-rate targets. The operating narrative emphasizes expansion beyond automotive into industrial, security and defense, robotics and autonomous aerial markets, but the reported financial results still show a low revenue base, elevated losses and continued dependence on liquidity management and financing availability.
Management, verbatim
Our second quarter demonstrates that MicroVision has evolved into a commercially focused perception company with the products, technology, leadership and operational discipline needed to compete across multiple high-growth markets. Our Lidar 2.0 strategy is translating into meaningful commercial momentum and a path to near-term and future revenue.
Glen DeVos, Chief Executive Officer of MicroVision
Not in the filing
stated, not guessed- Revenue by reportable segment
- GAAP gross profit
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- Non-GAAP earnings or loss per share
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- Share repurchases
- Dividend declaration or payment
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- Prior guidance/outlook for comparison
- CFO commentary
AlphAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.