MicroVision Q1 revenue $0.8M beats expectations; reaffirms 2023 guidance $10-15M

MICROVISION, INC.

2023-Q1 EPS reported -$0.11 revenue$782,000

Q1 2023 revenue $0.8M (up from $0.4M YoY), beat driven by Ibeo asset acquisition.
Net loss $19.0M ($0.11 per share) vs $13.2M ($0.08) YoY; includes $2.9M stock compensation.
Adjusted EBITDA loss $15.8M vs $9.0M loss YoY; cash used in ops $13.8M.
Cash and equivalents $67.7M at quarter-end, down from $82.7M at Dec 31, 2022.
Reaffirms full-year 2023 revenue guidance of $10-15M from expanded product suite.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MICROVISION, INC. reported first quarter 2023 results: revenue $0.8 million, net income $19.0 million, EPS $0.11 per share.

Period: first quarter 2023
Revenue: $0.8 million
Net income: $19.0 million
EPS: $0.11 per share
Result: reported results

Exact text from the filing

Revenue for the first quarter of 2023 was $0.8 million, compared to $0.4 million for the first quarter of 2022. The revenue growth in the first quarter was primarily due to the Ibeo acquisition and includes the sale of lidar hardware and related software to various customers. • Net loss for the first quarter of 2023 was $19.0 million, or $0.11 per share, which includes $2.9 million of non-cash, share-based compensation expense, $1.7 million bargain purchase price gain and $0.3 million of non-cash amortization of intangibles, compared to a net loss for the first quarter of 2022 of $13.2 million, or $0.08 per share, which includes $3.7 million of non-cash, share-based compensation expense.

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Source: SEC EDGAR

accession 0001193125-23-139499

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