The following is a summary of the MicroVision, Inc. (MVIS) Q3 2024 Earnings Call Transcript:

Financial Performance:

• MicroVision reported revenue of $0.2 million in Q3 2024, lower than expected due to delayed customer deliveries.

• Quarterly cash burn has reduced 25% quarter-over-quarter and annual OpEx and SG&A run rate is now projected at $48 million to $50 million for 2025.

• The company has strengthened its balance sheet with a convertible note facility, enhancing its liquidity to $234 million.

Business Progress:

• MicroVision is focusing on leveraging its LIDAR technology in both industrial and automotive sectors.

• Significant advancements are noted in custom software and hardware for the industrial LIDAR applications.

• In automotive, the company remains engaged in seven RFQs with OEMs, with new MOVIA L safety rated sensor to be introduced and expectations to accelerate the engagement into strategic sales next year.

Opportunities:

• Expansion into industrial applications provides a diversified revenue stream and near-term financial sustainability.

• Continued engagements with automotive OEMs for passenger vehicles present long-term high volume opportunities.

Risks:

• Delays from customers in the agriculture sector pushed expected Q3 revenue to Q4, illustrating dependency on customer schedules and market adoption rates.

• Competitive landscape remains a challenge, with demands for high performance at low cost stressing the need for strategic partnerships and technological advancements.

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