MicroVision Q3 2024 revenue $0.2M, net loss $15.5M; enters $75M convertible note facility

MICROVISION, INC.

2024-Q3 EPS reported -$0.32 revenue$3,046,000

Revenue of $0.2M vs $1.0M YoY, driven by delayed order and prior-year software sale.
Net loss $15.5M ($0.07/share), down from $23.5M ($0.12/share) in Q3 2023; includes $2.4M stock-based comp.
Adjusted EBITDA loss $11.7M, improved from $16.9M loss YoY; cash used in operations $14.1M vs $20.4M.
Cash and equivalents $43.2M at Sep 30, 2024; closed $75M senior secured convertible note in Oct, expecting ~$81M cash.
Engaged with 7 automotive OEM RFQs and multiple industrial firms for lidar solutions; cash burn improved sequentially.

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