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<h1>MicroVision (MVIS) Report<br><span class="sub">Compiled for Walt Scudder — March 2026</span></h1><div class="dateline">Prepared by Jeffrey via Aesthetic Computer · Source: family email archive (2015–2026) + current market data</div>
<!-- ===== CURRENT STATE ===== --><h2>Current State of MVIS (March 2026)</h2>
<div class="highlight"> <strong>Stock Price:</strong> $0.61/share · <strong>Market Cap:</strong> ~$190M · <strong>Analyst Target:</strong> $2.50 (Strong Buy) · <strong>Ownership:</strong> 27.5% institutional, 9.8% insiders, 62.7% retail</div>
<p><strong>Recent developments:</strong></p><ul> <li>New CEO <strong>Glen DeVos</strong> executing "Pivot to Profit" strategy</li> <li>Acquired <strong>Luminar Technologies' LiDAR assets</strong> (Iris + Halo sensors) for $33M — completed Feb 2026</li> <li>Raised <strong>$43M via senior secured convertible notes</strong> to accelerate acquisition synergies</li> <li>CEO, directors, and executives <strong>buying MVIS stock</strong> (March 2026)</li> <li>Partnerships with <strong>Anduril</strong> (defense), <strong>ZF</strong> (auto Tier 1), <strong>NVIDIA</strong> (AI/compute)</li></ul>
<p>Sources: <a href="https://ir.microvision.com/">MicroVision IR</a> · <a href="https://finance.yahoo.com/quote/MVIS/">Yahoo Finance</a> · <a href="https://ir.microvision.com/news/press-releases/detail/436/microvision-announces-agreement-to-acquire-luminar-assets">Luminar Acquisition PR</a></p>
<!-- ===== LATEST NEWS ===== --><h2>Latest News Timeline (Dec 2025 – Mar 2026)</h2>
<div class="entry"> <span class="entry-date">2026-03-16</span> · <span class="entry-title">Insiders Buy $310K in MVIS Stock</span> <div class="entry-desc">All executive officers and U.S. board members committed to purchase shares at <strong>$0.5322/share</strong> — direct purchases from the company, not open market. CEO Glen DeVos led the effort. <a href="https://www.stocktitan.net/news/MVIS/micro-vision-ceo-directors-and-executives-buy-mvis-4d82b0ctt79m.html">Source</a></div></div>
<div class="entry"> <span class="entry-date">2026-03-05</span> · <span class="entry-title">D. Boral Capital Downgrades MVIS to Hold</span> <div class="entry-desc">Downgrade from Buy to Hold, citing "uncertainty around near-term sales growth and continued spending pressures." Stock fell ~19% post-earnings.</div></div>
<div class="entry"> <span class="entry-date">2026-03-04</span> · <span class="entry-title">Q4 & Full Year 2025 Earnings</span> <div class="entry-desc"> Q4 revenue: <strong>$0.2M</strong> (vs $1.7M prior year). Full year 2025: <strong>$1.2M</strong> (vs $4.7M in 2024). Net loss included $29.4M impairment charge.<br> <strong>2026 revenue guidance: $10–15M</strong> — mostly industrial, with balance from automotive (includes Luminar streams).<br> Cash burn for 2026: $65–70M. Cash on hand: <strong>$74.8M</strong>.<br> <a href="https://www.fool.com/earnings/call-transcripts/2026/03/04/microvision-mvis-q4-2025-earnings-transcript/">Transcript</a> · <a href="https://seekingalpha.com/news/4561075-microvision-outlines-10m-15m-2026-revenue-target-amid-lidar-2_0-transformation-and-expanded">Seeking Alpha</a> </div></div>
<div class="entry"> <span class="entry-date">2026-02-25</span> · <span class="entry-title">CEO Fireside Chat — "LiDAR 2.0" Strategy</span> <div class="entry-desc">Glen DeVos outlined rationale for two acquisitions and the "LiDAR 2.0" transformation with expanded defense push. <a href="https://ir.microvision.com/news/press-releases/detail/438/microvision-business-update-and-fireside-chat-on-february">Source</a></div></div>
<div class="entry"> <span class="entry-date">2026-02-24</span> · <span class="entry-title">$43M Convertible Notes Issued</span> <div class="entry-desc">Senior secured notes to defer repayment obligations and accelerate Luminar + Scantinel integration. <a href="https://www.accessnewswire.com/newsroom/en/aerospace-and-defense/microvision-enhances-financial-position-to-accelerate-benefits-of-acquisition-1140273">Source</a></div></div>
<div class="entry"> <span class="entry-date">2026-01-27</span> · <span class="entry-title">Luminar Assets Acquisition ($33M)</span> <div class="entry-desc">Acquired Iris + Halo LiDAR sensor IP, inventory, key engineering talent, and select commercial contracts. <a href="https://ir.microvision.com/news/press-releases/detail/436/microvision-announces-agreement-to-acquire-luminar-assets">Source</a></div></div>
<div class="entry"> <span class="entry-date">2025-12-16</span> · <span class="entry-title">First MOVIA L Shipments — EU Defense OEM</span> <div class="entry-desc">Initial order for MOVIA L sensors with integrated software shipped. Repeat orders continuing in 2026. DeVos: suited for "mission-critical systems, whether protecting lives on the battlefield or cargo in industrial transport." <a href="https://ir.microvision.com/news/press-releases/detail/435/microvision-reports-commercial-momentum-in-industrial">Source</a></div></div>
<div class="entry"> <span class="entry-date">2025-11-10</span> · <span class="entry-title">Scantinel Photonics Acquisition (FMCW LiDAR)</span> <div class="entry-desc">Acquired 1550nm FMCW ultra-long-range LiDAR tech + team in southern Germany. Targets commercial vehicles.</div></div>
<h3>Product Roadmap</h3><ul> <li><strong>MOVIA S</strong> — next-gen industrial sensor, production launch <strong>Q4 2026</strong></li> <li><strong>FMCW ultra-long-range</strong> — roadmap via ex-Scantinel team (Germany)</li> <li><strong>MOVIA L</strong> — shipping now to EU defense OEM, repeat orders ongoing</li> <li><strong>MAVIN</strong> — long-range ADAS sensor, integrated with <strong>NVIDIA DRIVE</strong> platform</li></ul>
<h3>Peter's MVIS Blog (Latest)</h3><ul> <li><strong>Aug 8, 2025</strong> — <em>"Building a skyscraper"</em> — Compares MVIS to a $200M Miami lot: deep underground work invisible for months before the structure rapidly rises.</li> <li><strong>May 20, 2025</strong> — <em>"Brain Trust compares Microvision to a biotech"</em> — At a pre-investor dinner in Redmond, attendees likened MVIS to biotech: no current earnings, but underlying assets carry huge potential.</li> <li><strong>Apr 21, 2025</strong> — <em>"Do Not Sell."</em></li></ul><p>Blog: <a href="https://petersmvis.blogspot.com/">petersmvis.blogspot.com</a></p>
<!-- ===== AIM THEORY ===== --><h2>AIM Intelligent Machines — Takeover Theory</h2>
<div class="highlight"> <strong>Walt's call:</strong> AIM Intelligent Machines will take over MicroVision. They now share office space.</div>
<p><a href="https://aim.vision/">AIM Intelligent Machines</a> retrofits heavy earthmoving equipment (excavators, dozers, trucks) to operate autonomously using LiDAR + AI. They're DCVC-backed with defense contracts.</p>
<p><strong>Why the fit is almost too clean:</strong></p><ul> <li>AIM is in <strong>Bellevue/Monroe, WA</strong> — a few miles from MVIS in <strong>Redmond, WA</strong></li> <li>AIM needs compact, affordable LiDAR for harsh outdoor environments — MVIS makes exactly that</li> <li>MVIS's MAVIN (long-range) + MOVIA (short/mid-range) at ~$250/unit fits AIM's cost model</li> <li>Overlapping defense angle: AIM defense contracts + MVIS/Anduril partnership</li> <li>MVIS at ~$190M market cap is very acquirable</li> <li><strong>Shared offices</strong> = deeper than a partnership (joint engineering, due diligence, or pre-acquisition integration)</li></ul>
<p>Sources: <a href="https://aim.vision/">AIM website</a> · <a href="https://www.dcvc.com/companies/aim/">DCVC portfolio</a> · <a href="https://www.bbb.org/us/wa/bellevue/profile/robots/aim-intelligent-machines-1296-1000163174">AIM BBB (Bellevue)</a></p>
<!-- ===== GROK VALUATION ===== --><h2>Grok AI Blind Valuation (March 20, 2026)</h2>
<p>Grok was prompted to value a hypothetical company matching MVIS's exact capabilities <em>without naming MicroVision</em> — avoiding biased press coverage per Peter's technique.</p>
<div class="highlight"> <strong>Market Cap Estimate:</strong> $2–5 billion (bull case: $5–10B by 2028)<br> <strong>NED Licensing Deal:</strong> $200–500 million<br> <strong>Implied Price Target:</strong> $6–$16/share<br> <strong>Short killer:</strong> A special dividend of $2 from NED licensing would devastate shorts</div>
<h3>Market Opportunity (Grok's Numbers)</h3><table> <tr><th>Segment</th><th>2025 Market</th><th>2030 Projection</th><th>MVIS Revenue Potential</th></tr> <tr><td>Automotive LiDAR (ADAS)</td><td>$1.2–1.9B</td><td>$9–25B</td><td>$500M–$2B (5–10% share)</td></tr> <tr><td>Industrial LiDAR (forklifts, heavy equip)</td><td>$3–8B</td><td>$6–13B</td><td>$200–500M</td></tr> <tr><td>AR Near-Eye Display</td><td>$2.2B</td><td>$6.7B</td><td>$300–800M</td></tr></table>
<h3>Comparable Companies</h3><table> <tr><th>Company</th><th>Focus</th><th>Market Cap</th></tr> <tr><td>Hesai Group</td><td>Auto/Industrial LiDAR</td><td>~$3.8B</td></tr> <tr><td>Ouster</td><td>Multi-sector LiDAR</td><td>~$1.3B</td></tr> <tr><td>Aeva Technologies</td><td>Automotive LiDAR</td><td>~$0.9B</td></tr> <tr><td>Himax Technologies</td><td>Display tech (AR)</td><td>~$1.7B</td></tr> <tr><td>Kopin Corporation</td><td>Micro-displays for AR</td><td>~$0.4B</td></tr> <tr><td><strong>MicroVision</strong></td><td><strong>LiDAR + NED + AR</strong></td><td><strong>~$0.19B</strong></td></tr></table>
<p><strong>Peter's AI search tip:</strong></p><blockquote>"If you tell Grok to eliminate certain biased sources it will do that, and the answers are often very different... as Microvision has gotten a lot of bad/biased press, eliminating that will give a better answer."</blockquote>
<!-- ===== REVERSE CHRONOLOGY ===== --><h2>Reverse Chronology — 11 Years of MVIS Research</h2>
<div class="era">2025 — Anduril, ZF, NVIDIA Partnerships</div>
<div class="entry"> <span class="entry-date">2025-07-11</span> · <span class="entry-title">MicroVision Retail Investor Day Town Hall</span> <div class="entry-desc">Replay: <a href="https://www.reddit.com/r/MVIS/s/WmFLRqzNTF">Reddit thread</a></div></div>
<div class="entry"> <span class="entry-date">2025-04-05</span> · <span class="entry-title">CoPilot Analysis: Anduril + ZF + NVIDIA</span> <div class="entry-desc">PDF analyzing MVIS's defense/auto/AI partnerships. <a href="https://assets.aesthetic.computer/mvis/2025%20CoPilot%20discussion%20on%20Mircrovision's%20collaboration%20with%20Anduril,%20ZF%20and%20NVIDIA.pdf">Download PDF</a></div></div>
<div class="era">2024 — Interactive Spreadsheet Analysis</div>
<div class="entry"> <span class="entry-date">2024-10-09</span> · <span class="entry-title">MVIS Lidar Spreadsheet v2 (Autos + Industrial Robots)</span> <div class="entry-desc">Interactive spreadsheet with user-adjustable variables. <a href="https://assets.aesthetic.computer/mvis/fall-2024/spreadsheet.html">View online</a></div></div>
<div class="entry"> <span class="entry-date">2024-03-17</span> · <span class="entry-title">MVIS Lidar Spreadsheet v1</span> <div class="entry-desc">"All the cells highlighted are variables where users can input their own ideas and it will do the calculations."</div></div>
<div class="era">2021 — TD Ameritrade Review</div>
<div class="entry"> <span class="entry-date">2021-11-17</span> · <span class="entry-title">Buy Back Recommendation</span> <div class="entry-desc">Jeffrey sold 1,100 shares at avg $13.54 ($14,894). Walt urged rebuy at $8.62. Projection: buy at $9, sell at $40 = $34,100 profit.</div></div>
<div class="era">2020 — Amazon Breadcrumbs & Volume Explosion</div>
<div class="entry"> <span class="entry-date">2020-05-09</span> · <span class="entry-title">Trading Volume Explosion</span> <div class="entry-desc">842M shares traded (56x YoY). 6-day volume = 5x the entire 130M float. "My gut tells me something big is going on."</div></div>
<div class="entry"> <span class="entry-date">2020-01-07</span> · <span class="entry-title">Amazon Breadcrumbs — The Salmon Platter</span> <div class="entry-desc">Walt discovered MVIS data sheet image matched a Whole Foods listing. Peter confirmed: Amazon engineer reacted with "shock and startle" about the laser projector in Alexa. <a href="http://petersmvis.blogspot.com/2020/01/amazon-breadcrumb.html">Peter's blog post</a></div></div>
<div class="era">2019 — PPS Modeling & Bull/Bear Debate</div>
<div class="entry"> <span class="entry-date">2019-03-10</span> · <span class="entry-title">Future PPS Calculations</span> <div class="entry-desc">Walt's bull case: 1B units, PE 14, 30%+ margins. Chad Zawistowski's bear case: 35M units, PE 5, $1.70 target. Known deals: $25.2M contract (HoloLens 2), $10M display-only license.</div></div>
<div class="era">2018 — "MSFT and AMZN Are the Mystery Customers"</div>
<div class="entry"> <span class="entry-date">2018-08-02</span> · <span class="entry-title">Q2 CC Analysis (via Roger Collamati)</span> <div class="entry-desc">"I personally think two of the big ones MVIS has been working with are MSFT and AMZN." Roger: "Hang in there."</div></div>
<div class="era">2017 — Analyst Reports & Chinese Smartphones</div>
<div class="entry"> <span class="entry-date">2017-07-26</span> · <span class="entry-title">VOGA V Phone (MVIS Engine Inside)</span> <div class="entry-desc">"I think this phone with the MVIS engine will become very popular in China." <a href="http://petersmvis.blogspot.com/2017/07/voga-v-review.html">Peter's review</a></div></div>
<div class="entry"> <span class="entry-date">2017-03-23</span> · <span class="entry-title">RDI Bullish Report + Apple/STM Rumors</span> <div class="entry-desc">"If rumors about STM having large order from Apple for a 3D sensor that includes Microvision's product prove true — this stock could be a real winner."</div></div>
<div class="era">2016 — "Bottom of the First Inning"</div>
<div class="entry"> <span class="entry-date">2016-03-08</span> · <span class="entry-title">Q4 CC: Baseball Analogy</span> <div class="entry-desc">"MVIS has a runner (Sharp) on first and another runner (Sony) on second with no outs." Tracked Robohon, Xperia Agent, Foxconn buying Sharp.</div></div>
<div class="entry"> <span class="entry-date">2016-01-06</span> · <span class="entry-title">CES 2016: Sony MPCL1 + Ford HUD</span> <div class="entry-desc">MVIS tech at CES through Sony, Celluon ($299–$450 projectors), Ford HUD. You gave me the Sony MPCL1 for Christmas.</div></div>
<div class="era">2015 — The Beginning</div>
<div class="entry"> <span class="entry-date">2015-07-27</span> · <span class="entry-title">Roger Collamati: "Why MicroVision?"</span> <div class="entry-desc">"Why this company will be the next big investment to have." MVIS at $3.40. Roger's 15-person distribution list.</div></div>
<div class="entry"> <span class="entry-date">2015-06-09</span> · <span class="entry-title">Peter's Blog: "Why MicroVision? Because THIS."</span> <div class="entry-desc">The founding thesis: consumers demand bigger screens, PicoP projection is the answer. This idea evolved through interactive displays, HoloLens, LiDAR, and defense tech over the next decade. <a href="http://petersmvis.blogspot.com/">Peter's MVIS Blog</a></div></div>
<!-- ===== LINKS ===== --><h2>Key Links</h2><ul> <li><a href="https://ir.microvision.com/">MicroVision Investor Relations</a></li> <li><a href="https://finance.yahoo.com/quote/MVIS/">MVIS on Yahoo Finance</a></li> <li><a href="https://www.reddit.com/r/MVIS/">r/MVIS Reddit Community</a></li> <li><a href="http://petersmvis.blogspot.com/">Peter's MVIS Blog</a></li> <li><a href="https://aim.vision/">AIM Intelligent Machines</a></li> <li><a href="https://www.reddit.com/r/Anduril/s/04VflOEqzW">Anduril Reddit Thread (2026)</a></li> <li><a href="https://www.pixelworks.com/en">Pixelworks</a></li> <li><a href="https://assets.aesthetic.computer/mvis/2025%20CoPilot%20discussion%20on%20Mircrovision's%20collaboration%20with%20Anduril,%20ZF%20and%20NVIDIA.pdf">Anduril/ZF/NVIDIA CoPilot Analysis (PDF)</a></li> <li><a href="https://assets.aesthetic.computer/mvis/fall-2024/spreadsheet.html">Your MVIS Lidar Spreadsheet (online)</a></li></ul>
<div class="footer"> Compiled from 45+ emails spanning 2015–2026 · aesthetic.computer/microvision · March 20, 2026</div>
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