Business
MicroVision Announces Second Quarter 2020 Results
REDMOND, Wash., Aug. 05, 2020 (GLOBE NEWSWIRE) -- MicroVision, Inc. (NASDAQ:MVIS), a leader in innovative ultra-miniature projection display and sensing
About this update from Microvision, Inc.
[{"type":"text","content":"REDMOND, Wash., Aug. 05, 2020 (GLOBE NEWSWIRE) -- MicroVision, Inc. (NASDAQ:MVIS), a leader in innovative ultra-miniature projection display and sensing technology, today announced its second quarter 2020 results.\n Revenue for the second quarter of 2020 was $0.6 million, compared to $1.2 million for the second quarter of 2019. MicroVision's net loss for the second quarter of 2020 was $2.3 million, or $0.02 per share, compared to a net loss of $9.0 million, or $0.08 per share for the second quarter of 2019. The Company ended the second quarter of 2020 with $7.8 million in cash and cash equivalents, compared to $5.8 million at the end of the fourth quarter of 2019. “With the assistance of our financial advisor, Craig-Hallum Capital Group LLC, we continue to explore strategic alternatives to maximize the value of MicroVision for our shareholders, including the sale of a product vertical, strategic investment, or potential sale or merger of the Company,” said Sumit Sharma, MicroVision's Chief Executive Officer. Financial Results Webcast MicroVision will host a webcast which will start at 2:00 p.m. Pacific Time on Wednesday, August 5, 2020 to discuss its second quarter results. Interested parties can listen to the company's webcast by accessing the Investor Relations section of MicroVision’s website on the Investor Relations Events Calendar page at https://microvision.gcs-web.com/investor-event-calendar. Investors may submit questions for management in advance to [email protected] or beginning 10 minutes before or during the live webcast on August 5, 2020.The webcast will be available for rebroadcast from the Investor Relations section of MicroVision’s website on the Investor Relations Events Calendar page. About MicroVision MicroVision is the creator of PicoP® scanning technology, an ultra-miniature sensing and projection solution based on the laser beam scanning methodology pioneered by the Company. MicroVision’s platform approach for this sensing and display solution means that its technology can be adapted to a wide array of applications and form factors. We combine our hardware, software, and algorithms to unlock value for our customers by providing them a differentiated advanced solution for a rapidly evolving, always-on world. MicroVision has a substantial portfolio of patents relating to laser beam scanning projection and s...