MicroVision, Inc., which is in MEMS-based solid-state automotive lidar and advanced driver-assistance systems (ADAS) solutions, announced on 5th April 2023, the launch of its solid-state flash-based MOVIA lidar sensor. The small form factor and light weight of the MOVIA sensor make it appealing for a wide variety of industrial applications, such as agriculture, logistics, mining, and nautical applications. Additionally, the near- and mid-range MOVIA sensor also complements its high-speed dynamic-range MAVIN™ sensor.
“We are happy to support the continued sale of products to long-time Ibeo customers,” said Sumit Sharma, MicroVision’s Chief Executive Officer. “We’re also excited about developing opportunities to sell the MOVIA flash sensor, both as a standalone sensor for industrial applications and as a complementary sensor in OEMs’ ADAS systems.”
Based on a combination of sales of software, hardware, and services to various customers, MicroVision expects to record $400,000 to $500,000 in revenue for the first quarter of 2023, which includes only two months of contribution from the acquired business following the January 31 closing. The Q1 2023 revenue performance positions the Company well for its financial targets and milestones for the full year 2023, as previously disclosed on February 28, 2023.
“Our teams have made significant progress in seamlessly integrating the technologies and operations of Ibeo into MicroVision within the first two months of the January 31, 2023 closing of the acquisition of assets from Ibeo Automotive Systems. With the recently received purchase commitments from some large customers, we are very pleased with our revenue trajectory. We see this year shaping up well for MicroVision, which now has over 50 years of combined market experience and over 20 years of operating history as a traditional public company. Our broad spectrum of product offerings and technology for both automotive and non-automotive applications powered by a deep IP portfolio of 735 patents clearly differentiates us from all the other lidar companies in the market,” said Anubhav Verma, MicroVision’s Chief Financial Officer.
Since the closing of MicroVision’s acquisition of certain assets of Ibeo, in addition to the high-speed dynamic-range MAVIN lidar sensor targeted for sale to automotive OEMs and Tier 1 suppliers, MicroVision has begun selling the MOSAIK Suite as a system solution for validating vehicle sensors for ADAS and autonomous vehicle applications, as well as the MOVIA sensor and Gen 1 Scala sensor and software. This unique product portfolio allows MicroVision to realize near-term sales while developing momentum for long-term opportunities and series production.
With over 350 employees and global presence in Redmond, Detroit, Hamburg, and Nuremberg, MicroVision is a pioneering company in MEMS-based laser beam scanning technology that integrates MEMS, lasers, optics, hardware, algorithms and machine learning software into its proprietary technology to address existing and emerging markets. The Company’s integrated approach uses its proprietary technology to provide automotive lidar sensors and solutions for advanced driver-assistance systems (ADAS) and for non-automotive applications including industrial, smart infrastructure and robotics. The Company has been leveraging its experience building augmented reality micro-display engines, interactive display modules, and consumer lidar modules.