MVIS stock jumped 2.45% pre-market, here’s why?
MicroVision Inc (MVIS) stock closed the recent trading session at $3.26, gaining 3.82% from the previous trading session. MVIS has a market capitalization of $534.98 million. When last checked, MVIS stock gained 2.45% to $3.34, pre-market. The company filed with the SEC on February 4, 2022.
MicroVision Inc is a technology company involved in the production of laser scanning technology, image capture and 3D detection. MicroVision is a pioneer in MEMS-based laser scanning innovation, coordinating AI optics, equipment, algorithms and programming into proprietary frameworks that tend to exist and grow industries. ‘activity. The integrated methodology offers solutions for automotive lidar sensors, AR microdisplay engines, intuitive display modules, and consumer lidar parts. The company was founded in 1993 and is based in Redmond, Washington, United States of America (USA).
MVIS released financial results for the third quarter of FY21 on October 28, 2021. The company reported total revenue of $0.7 million in the third quarter of FY21 versus 0.6 million dollars in the same period last year.
MicroVision posted a net loss of $9.4 million in the third quarter of FY21 compared to a loss of $2.8 million in the third quarter of FY20. Earnings per share (EPS ) was reported at -$0.06 versus an estimate of -$0.04.
MVIS Chief Executive Officer (CEO) Sumit Sharma said he was confident they were on the right track. He added that they have received positive feedback from customers regarding the minimal spend and small size of our automotive lidar sensor, the growth of MicroVision’s core innovation and our product capabilities, which has led to several requests for additional information and recommendations from equipment manufacturers.
“With this positive reaction, along with our strong financial position and our team, I remain optimistic that MicroVision can prevail in the developing ADAS and independent driving market,” Mr. Sharma said. .