MicroVision reported higher third-quarter revenue, a return to positive gross margins and a narrower net loss, while saying customer orders and shipping schedules support its 2026 revenue outlook. The lidar and perception-systems company also announced operating-cost reductions intended to accelerate its path to profitability.
The quarter included record lidar sales, according to the company, and continued growth in revenue from the prior quarter. MicroVision said it is shipping against a backlog of purchase orders as demand for its IRIS sensors increases and production of its MOVIA Pro product begins.
Financial results
- Revenue was $2.4 million, up from $0.2 million in the third quarter of 2025. Revenue for the first nine months of 2026 totaled $4.8 million, nearly five times the $1.0 million reported in the year-earlier period.
- Gross margin was 50%, compared with a negative margin a year earlier. Year-to-date gross margin improved to 46% from negative 126%.
- Operating expenses were $22.5 million, versus $12.0 million a year earlier. MicroVision attributed the increase to its acquisition of Luminar. Expenses were about 7.5% below the company’s average quarterly operating expenses in the first half of 2026.
- The net loss narrowed to $12.2 million, or 45 cents per share, from $14.2 million, or 72 cents per share, a year earlier. Adjusted EBITDA loss was $11.1 million, compared with $11.7 million.
- MicroVision had $28.9 million in cash and cash equivalents at September 30. It used $13.6 million in operating cash during the quarter.
Commercial and cost plans
- MicroVision reiterated its 2026 revenue guidance, citing customer demand, purchase-order backlog and expanding shipping schedules. The announcement did not state the guidance amount.
- The company said it has implemented cost reductions that are expected to take effect significantly in the fourth quarter, aligning operating resources with its revenue-generating activities.
- Management said it expects 2027 cash burn to fall to $40 million for the year, while continuing to pursue revenue growth. This is a company target, not a reported result.
- MicroVision cited new defense programs, including one involving Overland AI, as well as a strategic alliance it said would bring immediate revenue in intelligent transportation systems. It also reported commercial contracts with Blue-Band.
- Scantinel, a MicroVision business, has entered the high-speed optical-connectivity market for AI data centers.
The results show substantial improvement in revenue and gross margin from a very low prior-year base, alongside continuing losses and cash outflow. The announced expense reductions and 2027 cash-burn target are central to management’s stated profitability plan; the quarter-end cash balance and quarterly operating cash use provide context for that effort.