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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF
THE
SECURITIES EXCHANGE ACT OF 1934
DATE
OF REPORT (DATE OF EARLIEST EVENT REPORTED) December 14, 2023
MicroVision,
Inc.
(Exact
name of registrant as specified in its charter)
Delaware |
|
001-34170 |
|
91-1600822 |
(State
or other jurisdiction
of
incorporation) |
|
(Commission
File
Number) |
|
(I.R.S.
Employer
Identification
No.) |
18390
NE 68th Street
Redmond,
Washington 98052
(Address
of principal executive offices) (Zip code)
(425)
936-6847
Registrant’s
telephone number, including area code
Not
Applicable
(Former
name or former address if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
|
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
symbol(s) |
|
Name
of each exchange on which registered |
Common
stock, par value $0.001 per share |
|
MVIS |
|
The
NASDAQ Stock Market |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item
8.01. Other Events.
On
December 14, 2023, MicroVision, Inc. (the “Company”) issued a press release to reiterate its 2023 revenue guidance and provide
a business update.
A
copy of the Company’s press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by
reference.
Item
9.01. Financial Statements and Exhibits.
(c)
Exhibits.
Pursuant
to the rules and regulations of the SEC, the attached exhibit is deemed to have been furnished to, but not filed with, the SEC.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
|
MICROVISION,
INC. |
|
|
|
|
By: |
/s/
Drew G. Markham |
|
|
Drew
G. Markham |
|
|
Vice
President, General Counsel and Secretary |
Dated:
December 14, 2023
Exhibit 99.1
MicroVision Reiterates Revenue Guidance
and Provides Updates on OEM Engagements
REDMOND, Wash. – Dec. 14, 2023 –
MicroVision, Inc. (Nasdaq: MVIS), a leader in MEMS-based solid-state automotive lidar technology and ADAS solutions, today reiterated
its 2023 revenue guidance and provided updates on engagement with OEMs.
“As we wrap up a year of strong growth
and momentum for MicroVision, we want to give a brief update to shareholders about where we are and where we’re going,” said
Sumit Sharma, MicroVision’s Chief Executive Officer. “Consistent with our previous statement, we expect our 2023 revenue to
be near the top end of the $6.5 - $8.0 million range. Looking ahead, I am excited about opportunities to ramp revenue from non-automotive
markets through our direct sales channel.”
“In addition, on strategic sales, our
forward momentum with multiple potential customers continues, but we are pushing out our expectations of nomination timing into the first
quarter of 2024. We feel confident in our engagement with OEMs as we are receiving demand for large orders of samples ahead of nomination,”
continued Sharma. “Deep discussions continue as we work through the commercial terms of these significant and market-changing partnerships.”
About MicroVision
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.
MicroVision, MAVIN, MOSAIK, and MOVIA are
trademarks of MicroVision, Inc. in the United States and other countries. All other trademarks are the properties of their respective
owners.
Forward-Looking Statements
Certain statements contained in this release,
including those relating to expected revenue and customer engagement and those statements using words such as
“expects” or “intends” are forward-looking statements that involve a number of risks and uncertainties.
Factors that could cause actual results to differ materially from those projected in our forward-looking statements include the
following: capital market risks; our ability to operate with limited cash or to raise additional capital when needed; market
acceptance of our technologies and products or for products incorporating our technologies; the failure of our commercial partners
to perform as expected under our agreements; our ability to identify parties interested in paying any amounts or amounts we deem
desirable for the purchase or license of intellectual property assets; our or our customers’ failure to perform under open
purchase orders; our financial and technical resources relative to those of our competitors; our ability to keep up with rapid
technological change; government regulation of our technologies; our ability to enforce our intellectual property rights and protect
our proprietary technologies; the ability to obtain additional contract awards and to develop partnership opportunities; the timing
of commercial product launches and delays in product development; the ability to achieve key technical milestones in key products;
dependence on third parties to develop, manufacture, sell and market our products; potential product liability claims; our ability
to maintain our listing on The Nasdaq Stock Market, and other risk factors identified from time to time in our SEC reports,
including our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q and other reports filed with the SEC. These factors are
not intended to represent a complete list of the general or specific factors that may affect us. It should be recognized that other
factors, including general economic factors and business strategies, may be significant, now or in the future, and the factors set
forth in this release may affect us to a greater extent than indicated. Except as expressly required by federal securities laws, we
undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future
events, changes in circumstances or any other reason.
Investor Relations Contact:
Jeff Christensen
Darrow Associates Investor Relations
MVIS@darrowir.com
Media Contact:
Robyn Komachi
Marketing@MicroVision.com
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