NASDAQ$MVIS

MicroVision Inc · Q1 2020 earnings

Q1 2020 earnings · · Investor relations

Briefing

Reported a net loss for the first quarter of 2020 and is exploring strategic alternatives to maximize company value.

MicroVision reported a decrease in revenue for the first quarter of 2020 compared to the same period in 2019, along with a net loss. The company is actively exploring strategic alternatives, including a potential sale of the company or its product verticals.

  • Revenue for Q1 2020 was $1.5 million, down from $1.9 million in Q1 2019.
  • Net loss for Q1 2020 was $4.9 million, or $0.04 per share, compared to a net loss of $8.1 million, or $0.08 per share in Q1 2019.
  • Exploring strategic alternatives, including the sale of product verticals or the company.
  • Implemented cost management measures, including workforce reduction and curtailing non-essential expenses.

Headline financials

Total Revenue

$1.47M

Previous: $1.85M-20.6%
EPS (adj)

-$0.04

Previous: -$0.08+50.0%
Capital Expenditures

-$75K

Previous: -$313K+76.0%
Free Cash Flow

-$5.01M

Previous: -$8.38M+40.2%
Net Income

-$4.93M

Previous: -$8.07M+38.8%
Operating Income

-$4.93M

Previous: -$8.06M+38.8%
Gross Profit

$70K

Previous: $608K-88.5%
Cash & Equivalents

$2.33M

Previous: $6.98M-66.7%
Total Assets

$6.9M

Previous: $17.2M-59.9%
Stock-Based Comp

$189K

No prior period

Revenue & EPS history

MicroVision · Revenue · Quarterly

$1.47M

Q1 2020-20.6%vs Q1 2019
Beat estimate in 10 of 16 quarters(63%)
ActualEstimate

Revenue by segment

MicroVision · $935K total across 2 segments · Q1 2026

  • Product Revenue
    $909K
  • License and Royalty
    $26K

Forward guidance

MicroVision is focused on finding strategic alternatives and managing costs to create a runway for completing a strategic transaction.

Tailwinds

  • Actively exploring strategic alternatives to maximize value.
  • Cost management measures implemented to extend financial runway.
  • Transferred component production to April 2017 customer to lower costs.
  • Sold production assets to reduce working capital requirements.
  • Diligently exploring all options including the sale of one or more of our module product verticals and related technology or a potential sale of the Company.

Headwinds

  • Uncertainty regarding the outcome of strategic alternatives exploration.
  • Risk of not finding licensing or strategic solutions with acceptable terms.
  • Dependence on limited cash and ability to raise additional capital.
  • Market acceptance of technologies and products is not guaranteed.
  • Potential failure of commercial partners to perform as expected.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q1 2020

Historical avgQ1 2020

-4.0%

Avg return

Earnings day

-4.4%

Avg return

5 days after

+0.9%

Avg return

30 days after

37%

24 / 65 earnings

Positive

+21.7%

Q4 2020

Best reaction

-31.9%

Q1 2020

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-6.7%-2.2%-39.4%
Q4 2025-29.5%-28.2%-17.9%
Q3 2025-11.3%-14.0%-12.1%
Q2 2025-0.9%+1.8%-0.9%
Q1 2025+0.9%-2.7%+12.5%
Q4 2024-6.5%-14.4%-12.9%
Q3 2024-0.9%-8.3%-17.6%
Q2 2024-3.0%-8.6%+5.4%
Q1 2024-24.7%-13.6%-34.0%
Q4 2023+5.8%+0.0%-17.5%
Q3 2023-1.0%+6.5%+27.4%
Q2 2023-12.5%-13.9%-27.6%
Q1 2023+1.7%+8.6%+228.3%
Q4 2022-6.0%-0.4%+2.8%
Q3 2022-3.8%-2.4%-18.9%
Q2 2022+12.9%+10.3%+8.6%
Q1 2022+5.4%+21.1%+24.4%
Q4 2021+16.7%+38.5%+30.8%
Q3 2021-8.0%+4.8%-15.2%
Q2 2021+10.3%+27.5%+19.2%
Q1 2021-27.3%-26.6%-25.7%
Q4 2020+21.7%+17.3%-0.9%
Q3 2020-28.2%-23.7%-4.6%
Q2 2020-25.6%-40.2%-41.7%
Q1 2020-31.9%-18.6%-9.7%
Q4 2019-16.7%-29.2%-12.5%
Q3 2019+5.6%+2.8%+5.6%
Q2 2019-7.4%-13.6%-7.4%
Q1 2019-15.1%-19.3%-30.3%
Q4 2018-7.7%+2.6%-18.8%
Q3 2018-4.7%-4.7%-12.1%
Q2 2018+7.6%+5.4%+15.2%
Q1 2018+0.0%+5.9%-4.4%
Q4 2017-9.8%-6.5%-8.9%
Q3 2017-29.0%-28.5%-26.2%
Q2 2017+6.9%+6.5%-0.4%
Q1 2017-17.3%-20.2%-22.8%
Q4 2016+4.3%+2.5%+37.0%
Q3 2016+11.7%+18.1%+71.3%
Q2 2016-10.9%-15.4%-13.1%
Q1 2016+16.3%
Q4 2015-11.9%
Q3 2015-8.6%
Q2 2015-10.1%
Q1 2015-4.5%
Q4 2014+7.9%
Q3 2014+1.7%
Q2 2014+3.8%
Q1 2014+1.3%
Q4 2013+0.5%
Q3 2013-6.9%
Q2 2013-3.5%
Q1 2013+4.7%
Q4 2012-2.9%
Q3 2012-1.3%
Q2 2012-1.0%
Q1 2012+1.2%
Q4 2011-9.8%
Q3 2011+0.0%
Q2 2011+3.8%
Q1 2011+1.5%
Q4 2010-3.2%
Q3 2010-2.9%
Q2 2010-4.2%
Q1 2010+5.8%

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