Microvision Inc (MVIS)

History and Background

Microvision Inc. was founded in 1993. It initially focused on developing laser scanning technology for displays. Over time, its focus shifted to LiDAR sensors and augmented reality (AR) solutions. It has gone through periods of high expectations followed by significant strategic pivots.

Core Business Areas

• Automotive LiDAR: Development and sale of LiDAR sensors for advanced driver-assistance systems (ADAS) and autonomous vehicles.
• Display and Consumer LiDAR: Technology licensing for consumer applications such as smart speakers and augmented reality devices. This segment is largely deprecated as of 2022, with the company pivoting heavily towards Automotive LiDAR.

Leadership and Structure

The company is led by CEO Sumit Sharma. The organizational structure includes engineering, sales, marketing, and operations departments. The board of directors provides strategic oversight.

Key Offerings

• MOVIA LiDAR: MOVIA is Microvision's LiDAR sensor product. No established market share data is available. Competitors include Velodyne (VLDR), Luminar (LAZR), and Innoviz (INVZ).
• Software and Perception Stacks: Software to process point clouds into object detections and classifications. Microvisionu2019s software enables its LiDAR hardware to be used in autonomous driving and industrial applications. Market share is undefined due to a mix of proprietary and open-source solutions. Competitors include various independent software vendors and OEM solutions.

Industry Overview

The automotive LiDAR market is rapidly growing due to the increasing adoption of ADAS and autonomous driving technologies. Competition is intense, with numerous players vying for market share.

Positioning

Microvision aims to be a leading provider of automotive LiDAR solutions. Its competitive advantage lies in its MEMS-based scanning technology, which offers high resolution and long range at a potentially lower cost. The success of MOVIA is the key for market entry and future growth.

Total Addressable Market (TAM)

The automotive LiDAR market is projected to reach tens of billions of dollars within the next decade. Microvision aims to capture a significant share of this TAM through its MOVIA LiDAR and strategic partnerships.

Key Competitors

• LAZR
• VLDR
• INVZ
• OUST

Competitive Landscape

Microvision is competing against established LiDAR providers and emerging players. Its advantages include its MEMS-based technology and compact sensor size. Disadvantages include its limited revenue history and need to secure large contracts.

Historical Growth: Historically, growth has been limited and inconsistent due to shifts in business strategy. The company has pivoted from display technology to LiDAR.

Future Projections: Future growth is dependent on the successful commercialization of its LiDAR technology. Analyst estimates vary widely, reflecting the uncertainty surrounding adoption rates. Analyst expectations are for revenue growth starting in 2025 if the product is successful

Recent Initiatives: Recent initiatives include the development and testing of its MOVIA LiDAR sensor, securing partnerships with automotive suppliers, and focusing on ADAS applications.

Microvision is a company focused on automotive LiDAR with a MEMS-based scanning technology. Its success depends on the acceptance of its MOVIA product. It currently lacks significant revenue. Positive strategic partnerships are needed to realize its potential. The company must be careful with its cash-burn rate.

Data Sources:

• Company Filings (SEC)
• Analyst Reports
• Industry Publications

Disclaimers:

This analysis is for informational purposes only and should not be considered financial advice. Market conditions and company performance can change rapidly. Invest at your own risk.