The reiterated 2026 revenue guidance of $10M-$15M and the 2027 target of at least doubling revenue are the key forward-looking metrics to track against quarterly execution. The $40M cash burn target for 2027 implies significant cost reduction is needed; monitor Q4 2026 operating expense trends for evidence of progress.
Price Chart
Executive Summary
MicroVision reported Q3 2026 revenue of $2.4 million, up from $0.2 million in Q3 2025, with a 50% gross margin and a net loss of $12.2 million ($0.45 per share) versus a $14.2 million loss in the prior year. The company reiterated full-year 2026 revenue guidance of $10 million to $15 million and guided for 2027 revenue to at least double from 2026 levels, while targeting a reduction in operating cash burn to approximately $40 million in 2027.
Key Financial Metrics
Key Facts
- Q3 2026 revenue was $2.4 million, compared to $0.2 million in Q3 2025.
- Gross margin improved to 50% from negative in the prior-year period.
- Net loss was $12.2 million ($0.45 per share) versus $14.2 million ($0.72 per share) a year ago.
- Adjusted EBITDA loss was $11.1 million, compared to $11.7 million in Q3 2025.
- Cash and cash equivalents were $28.9 million as of September 30, 2026.
- Full year 2026 revenue guidance reiterated at $10 million to $15 million.
- 2027 revenue expected to at least double from expected 2026 level.
- Company expects to reduce operating cash burn to approximately $40 million in 2027.
- Q3 operating expenses were $22.5 million, down ~7.5% from the first-half quarterly average of $24.4 million.
- Q3 included a $6.3 million cash R&D grant from the German government.
Financial Impact
Revenue grew 10x YoY to $2.4M; net loss improved by $2.0M; cash burn remains high at $13.6M operating cash used in Q3.
Risk Factors
- Cash burn remains elevated; $28.9M cash on hand may require additional financing before reaching profitability.
- Revenue base is still very small ($2.4M quarterly); execution risk on scaling to $10M-$15M full-year guidance.
- Operating expenses remain high relative to revenue; cost reduction plan success is unproven.
- Dependence on government R&D grants ($6.3M in Q3) may not be recurring.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001493152-26-048989 |
| Document: form8-k.htm | 0001493152-26-048989 |
| Document: 0001493152-26-048989-index-headers.html | 0001493152-26-048989 |
| Document: 0001493152-26-048989-index.html | 0001493152-26-048989 |
| Document: 0001493152-26-048989.txt | 0001493152-26-048989 |
| 8-K Data (Synthetic) | 0001493152-26-048989 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 28, 2026 2d ago | 8-K | $1.44 | awaiting T+20 | awaiting T+20 | $1.35 (−6.25%) |
Oct 7, 2026 23d ago | 8-K | $1.31 | awaiting T+20 | awaiting T+20 | $1.35 (+3.05%) |
Sep 18, 2026 6w ago | SC 13G | $1.66 $1.13 | ▼ −31.93% | ▼ −32.13% | $1.35 (−18.67%) |
Aug 17, 2026 10w ago | 424B5 | $2.14 $1.53 | ▲ +28.50% | ▲ +26.53% | $1.35 (+36.92%) |
Aug 10, 2026 11w ago | 8-K | $3.72 $1.67 | ▼ −55.11% | ▼ −54.19% | $1.35 (−63.71%) |
Jul 16, 2026 15w ago | EFFECT | $0.2969 $0.2513 | ▲ +15.35% | ▲ +18.97% | $1.35 (−354.70%) |
Jul 9, 2026 16w ago | Institutional Cluster | $0.4000 $0.2173 | ▼ −45.67% | ▼ −47.91% | $1.35 (+237.50%) |
Jul 7, 2026 16w ago | DEFA14A / 8-K | $0.3779 $0.2437 | ▼ −35.52% | ▼ −38.68% | $1.35 (+257.24%) |
Jun 24, 2026 18w ago | EFFECT | $0.3113 $0.2753 | ▲ +11.56% | ▲ +12.24% | $1.35 (−333.67%) |
Jun 23, 2026 18w ago | 424B5 | $0.3113 $0.2753 | ▲ +11.56% | ▲ +12.24% | $1.35 (−333.67%) |
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