MicroVision (MVIS) Is Down 7.0% After Revenue Drop And Narrower Losses In 2025 Results

• MicroVision, Inc. has reported its full-year 2025 results, with sales of US$1.21 million compared to US$4.70 million in 2024 and a net loss of US$94.98 million versus US$96.92 million, while basic loss per share from continuing operations narrowed to US$0.35 from US$0.46.
• The combination of falling revenue and a slightly smaller loss highlights the company’s challenge of scaling its business while still tightly managing costs.
• With sales declining year over year but net loss narrowing, we’ll now examine how this earnings mix affects MicroVision’s existing investment narrative.

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MicroVision Investment Narrative Recap

To own MicroVision today, you need to believe its lidar and perception software can eventually convert years of R&D and small sales into meaningful commercial programs across automotive, industrial and defense. The 2025 results, with revenue falling to US$1.21 million and losses still near US$95 million, do not materially change the near term story: the key catalyst remains getting MOVIA and LCAS into paying deployments, while the biggest current risk is continued cash burn without a clear revenue ramp.

In that context, the February 2025 equity raise and convertible notes, which brought in roughly US$52.8 million of new capital, are closely tied to this earnings release. The weaker 2025 sales highlight why that funding, along with the June 2025 increase in authorized common stock, matters for sustaining product development and operations until planned launches in 2026 and beyond, but it also reinforces financing and dilution as central issues around the catalyst of future lidar program wins.

Yet behind the product roadmap, the real information investors should be aware of is the risk that continued cash burn and further equity issuance could...

Read the full narrative on MicroVision (it's free!)

MicroVision's narrative projects $67.9 million revenue and $5.9 million earnings by 2029. This requires 195.3% yearly revenue growth and a $94.3 million earnings increase from $-88.4 million today.

Uncover how MicroVision's forecasts yield a $2.50 fair value, a 370% upside to its current price.

Exploring Other Perspectives

The most bearish analysts were already assuming very fast revenue growth of about 148 percent a year to roughly US$40.2 million by 2029, yet the latest US$1.21 million sales print and the risk that MOVIA and Scantinel industrialization slips further show how much more pessimistic their narrative is about timing and dilution compared with the baseline view.

Explore 10 other fair value estimates on MicroVision - why the stock might be a potential multi-bagger!

The Verdict Is Yours

Don't just follow the ticker - dig into the data and build a conviction that's truly your own.

• A great starting point for your MicroVision research is our analysis highlighting 1 key reward and 4 important warning signs that could impact your investment decision.
• Our free MicroVision research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate MicroVision's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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