MicroVision Restores Positive Gross Margin After Luminar Deal

The Tip Desk · November 9, 2026 · 2 min read

Third-quarter revenue reached $2.4 million and gross margin was 50% as the lidar maker reiterated 2026 sales of $10 million to $15 million.

MicroVision, Inc. (MVIS), a lidar perception company, reported third-quarter 2026 revenue of $2.4 million, up from $1.5 million in the second quarter after a $0.9 million first-quarter print, and said gross margin was 50%, versus a negative gross margin a year earlier.

The company said it is delivering on a backlog of purchase orders after IRIS sensor demand grew in the second half of the year and after a production launch of MOVIA Pro. Chief Executive Officer Glen DeVos called the quarter a record for lidar sales and another consecutive period of revenue growth.

Cost of revenue was $1.20 million, producing gross profit of $1.20 million. Adjusted gross profit, which excludes inventory write-downs and amortization of acquired intangibles in cost of revenue, was $1.26 million.

Operating expenses were $22.5 million, down from $24.9 million in the second quarter and $23.9 million in the first quarter. The company said third-quarter operating expense was down about 7.5% from its first-half quarterly average of $24.4 million and that it implemented a plan to reduce operating expenses and cash burn.

Net loss narrowed to $12.2 million, or $0.45 a share, from $36.9 million, or $1.66 a share, in the second quarter. The year-earlier third-quarter net loss was $14.2 million, or $0.72 a share. Adjusted EBITDA loss was $11.1 million. Results included a $6.3 million cash research-and-development grant from the German government.

Cash used in operations was $13.6 million in the quarter. Cash and cash equivalents were $28.9 million as of September 30, 2026, down from $46.1 million including investment securities at the end of the first quarter.

The company said commercial activity spanned industrial, security and defense, automotive and intelligent transportation systems. It cited new defense programs including Overland AI, an exclusive strategic alliance bringing Blue-Band commercial contracts and revenue, a separate IRIS award for a speed-enforcement program, and Scantinel’s entry into high-speed optical connectivity for AI data centers. MicroVision Semiconductor said it secured a selection by a prime government contractor to design a custom semiconductor solution for advanced photonics.

Full-year 2026 revenue guidance remains $10 million to $15 million. The company said 2027 revenue is expected to at least double from the expected 2026 level and that it expects to reduce operating cash burn to about $40 million in 2027, a reduction of roughly one-third from current levels.

Chief Financial Officer Christine Chambers said the company is aligning resources with key revenue drivers and that it sees a clear path to continued revenue growth and lower cash burn as it looks to 2027.