Microvision announced Q4 2016 financial results
Microvision announced its financial results for Q4 2016, with revenues of $2.9 million (up from $1.5 million in Q4 2015) and a net loss of $5.4 million (up from a net loss of $4.3 million in Q4 2015).
Annual revenues in 2016 reached $14.8 million - up 60% from 2015 ($9.2 million). Net loss was $16.5 in 2016 (up from $14.5 million in 2015). As of December 31, 2016, backlog was $942,000 and cash and cash equivalents were $15.1 million.
Microvision also updated on the status of its new engines. Thec ompany plans to release three new engines in 2017, the small form-factor HD PSE-0403, the interactive enabled PSE-0403sti that integrates 3D sensing and the mid-range light detection and ranging engine (PSE-0400Li). Microvision started to ship samples of the small form factor engine towards the end of 2016, and expects to start mass producing it soon, in Q2 2017. The interactive engine will enter production in Q3 2017, and the LIDAR engine will start shipping samples towards the end of 2017 with mass production readiness expected in H1 2018.