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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Microvision Inc | NASDAQ:MVIS | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.0253 | -1.56% | 1.5947 | 1.59 | 1.60 | 1.63 | 1.56 | 1.62 | 391,137 | 17:09:51 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
DATE
OF REPORT (DATE OF EARLIEST EVENT REPORTED)
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
(Address of principal executive offices) (Zip code)
Registrant’s telephone number, including area code
Not Applicable
(Former name or former address if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | ||
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | ||
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | ||
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading symbol(s) | Name of each exchange on which registered | ||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01. Other Events.
On December 14, 2023, MicroVision, Inc. (the “Company”) issued a press release to reiterate its 2023 revenue guidance and provide a business update.
A copy of the Company’s press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(c) Exhibits.
Pursuant to the rules and regulations of the SEC, the attached exhibit is deemed to have been furnished to, but not filed with, the SEC.
Exhibit No. | Description | ||
99.1 | Press Release of MicroVision, Inc. dated December 14, 2023 | ||
104 | Cover Page Interactive File (the cover page tags are embedded within the Inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
MICROVISION, INC. | ||
By: | /s/ Drew G. Markham | |
Drew G. Markham | ||
Vice President, General Counsel and Secretary |
Dated: December 14, 2023
Exhibit 99.1
MicroVision Reiterates Revenue Guidance and Provides Updates on OEM Engagements
REDMOND, Wash. – Dec. 14, 2023 – MicroVision, Inc. (Nasdaq: MVIS), a leader in MEMS-based solid-state automotive lidar technology and ADAS solutions, today reiterated its 2023 revenue guidance and provided updates on engagement with OEMs.
“As we wrap up a year of strong growth and momentum for MicroVision, we want to give a brief update to shareholders about where we are and where we’re going,” said Sumit Sharma, MicroVision’s Chief Executive Officer. “Consistent with our previous statement, we expect our 2023 revenue to be near the top end of the $6.5 - $8.0 million range. Looking ahead, I am excited about opportunities to ramp revenue from non-automotive markets through our direct sales channel.”
“In addition, on strategic sales, our forward momentum with multiple potential customers continues, but we are pushing out our expectations of nomination timing into the first quarter of 2024. We feel confident in our engagement with OEMs as we are receiving demand for large orders of samples ahead of nomination,” continued Sharma. “Deep discussions continue as we work through the commercial terms of these significant and market-changing partnerships.”
About MicroVision
With over 350 employees and global presence in Redmond, Detroit, Hamburg, and Nuremberg, MicroVision is a pioneering company in MEMS-based laser beam scanning technology that integrates MEMS, lasers, optics, hardware, algorithms and machine learning software into its proprietary technology to address existing and emerging markets. The Company’s integrated approach uses its proprietary technology to provide automotive lidar sensors and solutions for advanced driver-assistance systems (ADAS) and for non-automotive applications including industrial, smart infrastructure and robotics. The Company has been leveraging its experience building augmented reality micro-display engines, interactive display modules, and consumer lidar modules.
MicroVision, MAVIN, MOSAIK, and MOVIA are trademarks of MicroVision, Inc. in the United States and other countries. All other trademarks are the properties of their respective owners.
Forward-Looking Statements
Certain statements contained in this release, including those relating to expected revenue and customer engagement and those statements using words such as “expects” or “intends” are forward-looking statements that involve a number of risks and uncertainties. Factors that could cause actual results to differ materially from those projected in our forward-looking statements include the following: capital market risks; our ability to operate with limited cash or to raise additional capital when needed; market acceptance of our technologies and products or for products incorporating our technologies; the failure of our commercial partners to perform as expected under our agreements; our ability to identify parties interested in paying any amounts or amounts we deem desirable for the purchase or license of intellectual property assets; our or our customers’ failure to perform under open purchase orders; our financial and technical resources relative to those of our competitors; our ability to keep up with rapid technological change; government regulation of our technologies; our ability to enforce our intellectual property rights and protect our proprietary technologies; the ability to obtain additional contract awards and to develop partnership opportunities; the timing of commercial product launches and delays in product development; the ability to achieve key technical milestones in key products; dependence on third parties to develop, manufacture, sell and market our products; potential product liability claims; our ability to maintain our listing on The Nasdaq Stock Market, and other risk factors identified from time to time in our SEC reports, including our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q and other reports filed with the SEC. These factors are not intended to represent a complete list of the general or specific factors that may affect us. It should be recognized that other factors, including general economic factors and business strategies, may be significant, now or in the future, and the factors set forth in this release may affect us to a greater extent than indicated. Except as expressly required by federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changes in circumstances or any other reason.
Investor Relations Contact:
Jeff Christensen
Darrow Associates Investor Relations
MVIS@darrowir.com
Media Contact:
Robyn Komachi
Marketing@MicroVision.com
Cover |
Dec. 14, 2023 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Dec. 14, 2023 |
Entity File Number | 001-34170 |
Entity Registrant Name | MicroVision, Inc. |
Entity Central Index Key | 0000065770 |
Entity Tax Identification Number | 91-1600822 |
Entity Incorporation, State or Country Code | DE |
Entity Address, Address Line One | 18390 NE 68th Street |
Entity Address, City or Town | Redmond |
Entity Address, State or Province | WA |
Entity Address, Postal Zip Code | 98052 |
City Area Code | (425) |
Local Phone Number | 936-6847 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common stock, par value $0.001 per share |
Trading Symbol | MVIS |
Security Exchange Name | NASDAQ |
Entity Emerging Growth Company | false |
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