MVIS · Microvision, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $935.0K | - | $241.0K | $155.0K | $589.0K | - | $190.0K | $1.90M | $956.0K | - |
| Cost of Revenue | $550.0K | - | $957.0K | $716.0K | $550.0K | - | $583.0K | $1.55M | $1.28M | - |
| Gross Profit | $363.0K | - | ($716.0K) | ($561.0K) | $39.0K | - | ($393.0K) | $346.0K | ($321.0K) | - |
| R&D | $14.45M | - | $7.98M | $7.66M | $7.40M | - | $8.74M | $14.20M | $17.31M | - |
| SG&A | $9.51M | - | $4.03M | $6.44M | $6.68M | - | $6.60M | $7.75M | $9.08M | - |
| Total Operating Expenses | $23.86M | - | $12.01M | $14.10M | $14.08M | - | $15.31M | $24.98M | $26.39M | - |
| D&A | $2.37M | - | $400.0K | $300.0K | $1.41M | - | $600.0K | $600.0K | $1.80M | - |
| Operating Income | ($23.49M) | - | ($12.72M) | ($14.66M) | ($14.04M) | - | ($15.71M) | ($24.63M) | ($26.71M) | - |
| Interest Expense | $2.80M | - | $21.0K | $13.0K | $7.33M | - | - | - | - | - |
| Income Tax | $182.0K | - | $172.0K | $93.0K | $73.0K | - | $108.0K | $84.0K | $234.0K | - |
| Net Income | ($25.29M) | - | ($14.22M) | ($14.23M) | ($28.78M) | - | ($15.52M) | ($23.93M) | ($26.31M) | - |
| EPS - Basic | ($0.08) | - | ($0.05) | ($0.06) | ($0.12) | - | ($0.07) | ($0.11) | ($0.13) | - |
| EPS - Diluted | ($0.08) | - | ($0.05) | ($0.06) | ($0.12) | - | ($0.07) | ($0.11) | ($0.13) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $46.12M | $32.36M | $72.83M | $74.09M | $51.92M | $54.49M | $16.52M | $26.75M | $44.30M | $45.17M |
| Accounts Receivable | $732.0K | $47.0K | $40.0K | $104.0K | $252.0K | $926.0K | $232.0K | $1.97M | $1.12M | $949.0K |
| Inventory | $4.03M | $745.0K | $8.13M | $6.13M | $2.53M | $2.29M | $4.49M | $4.20M | $3.74M | $3.87M |
| Accounts Payable | $4.54M | $1.63M | $1.34M | $1.56M | $1.27M | $1.13M | $1.49M | $1.45M | $2.16M | $2.27M |
| Current Assets | $54.22M | $81.11M | $114.98M | $103.18M | $79.00M | $82.47M | $53.05M | $66.57M | $82.30M | $86.75M |
| Total Assets | $110.20M | $103.12M | $150.82M | $140.62M | $116.74M | $121.16M | $88.26M | $103.42M | $124.18M | $129.63M |
| Current Liabilities | $51.76M | $30.15M | $39.90M | $42.83M | $41.85M | $45.95M | $10.61M | $12.65M | $17.75M | $20.50M |
| Long-term Debt | $32.14M | $19.21M | $28.96M | $32.27M | $30.11M | $33.00M | - | - | - | - |
| Total Liabilities | $70.66M | $47.57M | $60.10M | $63.51M | $63.54M | $72.39M | $22.41M | $24.71M | $30.38M | $33.83M |
| Stockholders' Equity | $39.54M | $55.55M | $90.72M | $77.10M | $53.20M | $48.77M | $65.86M | $78.71M | $93.80M | $95.80M |
| Retained Earnings | ($982.56M) | ($957.26M) | ($919.51M) | ($905.29M) | ($891.06M) | ($862.28M) | ($831.13M) | ($815.61M) | ($791.68M) | ($765.37M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($16.44M) | - | - | - | ($14.10M) | - | - | - | ($20.76M) | - |
| Investing Cash Flow | $9.21M | - | - | - | $3.09M | - | - | - | ($3.28M) | - |
| Financing Cash Flow | $21.04M | - | - | - | $8.21M | - | - | - | $21.02M | - |
| CapEx | $143.0K | - | - | - | $99.0K | - | - | - | $114.0K | - |
| Free Cash Flow | ($16.59M) | - | - | - | ($14.20M) | - | - | - | ($20.87M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 38.8% | - | -297.1% | -361.9% | 6.6% | - | -206.8% | 18.2% | -33.6% | - |
| Operating margin | -2512.7% | - | -5278.4% | -9455.5% | -2383.7% | - | -8266.3% | -1296.4% | -2793.9% | - |
| EBITDA margin | -2259.5% | - | -5112.4% | -9261.9% | -2144.7% | - | -7950.5% | -1264.8% | -2605.6% | - |
| Net margin | -2705.2% | - | -5899.2% | -9180.0% | -4886.1% | - | -8166.8% | -1259.5% | -2752.4% | - |
| Free cash flow margin | -1773.9% | - | - | - | -2410.4% | - | - | - | -2183.4% | - |
| FCF / Net income | 0.66 | - | - | - | 0.49 | - | - | - | 0.79 | - |
| R&D / Revenue | 1544.9% | - | 3310.4% | 4940.6% | 1256.9% | - | 4597.9% | 747.6% | 1810.8% | - |
| SG&A / Revenue | 1017.2% | - | 1671.0% | 4152.9% | 1133.4% | - | 3473.2% | 407.7% | 949.6% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -23.0% | - | -9.4% | -10.1% | -24.7% | - | -17.6% | -23.1% | -21.2% | - |
| Return on equity | -64.0% | - | -15.7% | -18.5% | -54.1% | - | -23.6% | -30.4% | -28.1% | - |
| Return on invested capital | -25.9% | - | -8.4% | -10.6% | -13.3% | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 1.05 | 2.69 | 2.88 | 2.41 | 1.89 | 1.79 | 5.00 | 5.26 | 4.64 | 4.23 |
| Quick ratio | 0.97 | 2.67 | 2.68 | 2.27 | 1.83 | 1.74 | 4.58 | 4.93 | 4.43 | 4.04 |
| Cash ratio | 0.89 | 1.07 | 1.83 | 1.73 | 1.24 | 1.19 | 1.56 | 2.11 | 2.50 | 2.20 |
| Leverage | ||||||||||
| Debt / Equity | 0.81 | 0.35 | 0.32 | 0.42 | 0.57 | 0.68 | - | - | - | - |
| Debt / Assets | 0.29 | 0.19 | 0.19 | 0.23 | 0.26 | 0.27 | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -8.4x | - | -605.8x | -1127.4x | -1.9x | - | - | - | - | - |
| Equity multiplier | 2.79 | 1.86 | 1.66 | 1.82 | 2.19 | 2.48 | 1.34 | 1.31 | 1.32 | 1.35 |
| Liabilities / Assets | 0.64 | 0.46 | 0.40 | 0.45 | 0.54 | 0.60 | 0.25 | 0.24 | 0.24 | 0.26 |
| Efficiency | ||||||||||
| Asset turnover | 0.01 | - | 0.00 | 0.00 | 0.01 | - | 0.00 | 0.02 | 0.01 | - |
| Inventory turnover | 0.14 | - | 0.12 | 0.12 | 0.22 | - | 0.13 | 0.37 | 0.34 | - |
| Days sales outstanding | 286d | - | 61d | 245d | 156d | - | 446d | 378d | 428d | - |
| Days inventory outstanding | 2673d | - | 3101d | 3124d | 1682d | - | 2809d | 987d | 1068d | - |
| Days payable outstanding | 3011d | - | 511d | 797d | 841d | - | 931d | 340d | 618d | - |
| Cash conversion cycle | -52d | - | 2651d | 2572d | 996d | - | 2323d | 1026d | 879d | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | 5.0x | - | 4.0x | 3.8x | 5.5x | - | 3.7x | 2.8x | 3.9x | - |
| P / S | 211.3x | - | 1520.2x | 1873.0x | 496.7x | - | 1278.0x | 116.4x | 378.7x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 58.7% | - | 26.8% | -91.8% | -38.4% | - | -81.9% | 477.5% | 22.3% | - |
| Revenue CAGR (3y) | 6.1% | - | - | -21.0% | 18.9% | - | -35.8% | 36.6% | 25.9% | - |
| Revenue CAGR (5y) | 14.3% | - | -17.7% | -23.4% | -16.7% | - | -30.7% | 8.9% | -12.4% | - |
| Gross profit growth (YoY) | 830.8% | - | -82.2% | - | - | - | - | - | - | - |
| Operating income growth (YoY) | -67.3% | - | 19.0% | 40.5% | 47.4% | - | 34.3% | -3.1% | -26.0% | - |
| Net income growth (YoY) | 12.1% | - | 8.4% | 40.5% | -9.4% | - | 33.9% | -16.1% | -38.3% | - |
| EPS growth (YoY) | 33.3% | - | 28.6% | 45.5% | 7.7% | - | 41.7% | 8.3% | -18.2% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | -16.8% | - | - | - | 32.0% | - | - | - | -48.1% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -25.7% | 13.9% | 37.8% | -2.0% | -43.3% | -49.1% | -33.0% | -30.0% | 8.4% | 6.8% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$1.17M totalProduct Revenue$610.0K · 52.2%
License And Royalty Revenue$550.0K · 47.1%
Contract Revenue$8.0K · 0.7%
Geographic
$1.21M totalDE$945.0K · 78.2%
US$260.0K · 21.5%
Other Foreign Countries$3.0K · 0.2%
Peer comparison
Same SIC group: Electronic Components, NEC
Comparing MICROVISION against the 5 most active filers in the same SIC group.