MicroVision, Inc. (NASDAQ: MVIS) announced its third quarter 2026 financial results on October 28, 2026. The company reported record lidar revenue and a significant improvement in gross margins for the quarter.
For the third quarter of 2026, MicroVision reported revenue of $2.4 million. This figure represents a substantial increase from the $0.2 million reported in the same period of the prior year. Year-to-date revenue for 2026 stood at $4.8 million, which is nearly five times the $1.0 million reported through the first nine months of 2025.
The company achieved a gross margin of 50% for the third quarter of 2026. This marks a shift from a negative gross margin in the prior-year period. Year-to-date gross margin improved to 46%, compared with negative 126% in the same period of 2025.
Despite the revenue growth, MicroVision reported a net loss of $12.2 million for the quarter, or $0.45 per share. This compares to a net loss of $14.2 million, or $0.72 per share, in the prior-year period. The company’s operating expenses for the quarter were $22.5 million, a decrease of approximately 7.5% from the first-half quarterly average of $24.4 million.
At the end of the quarter, the company held $28.9 million in cash and cash equivalents. During the quarter, cash used in operations was $13.6 million. The financial results include a cash R&D grant of $6.3 million from the German government related to research and development activities.
MicroVision reiterated its full year 2026 revenue guidance, maintaining a range of $10 million to $15 million. The company also provided an outlook for 2027, expecting revenue to at least double the expected 2026 level. Management projects reducing operating cash burn to approximately $40 million in 2027, a reduction of roughly one-third from current levels.
On the business front, the company highlighted progress across multiple sectors. In the industrial sector, the company continues to support customer programs in mining and construction. In security and defense, MicroVision announced new programs with Overland AI and launched MOVIA Air and MOVIA Air Plus for autonomous aerial logistics. The company also secured an exclusive strategic alliance to bring Blue-Band commercial contracts and revenue to MicroVision.
