MicroVision Inc (NASDAQ:MVIS) reported fourth-quarter financial results after the market close on Wednesday. Here’s a look at the key details from the quarter.

Q4 Earnings: MicroVision reported fourth-quarter revenue of $1.7 million, missing analyst estimates of $3.25 million, according to Benzinga Pro. The advanced perception solutions company said its revenue results fell short of expectations due to a customer being delayed into 2025.

MicroVision reported a fourth-quarter loss of 14 cents per share, missing analyst estimates for a loss of nine cents per share, according to Benzinga Pro.

MicroVision said it used $15 million in cash in operations during the quarter. The company ended the period with $74.7 million in cash, cash equivalents and investment securities.

“MicroVision is well positioned to secure revenue opportunities for 2025, primarily from three verticals: industrial, automotive, and defense,” said Sumit Sharma, CEO of MicroVision.

“Our unique value proposition continues to be our integrated perception software with our MAVIN and MOVIA sensors. We continue to offer compelling solutions to industrial customers and automotive OEMs at attractive price points.”

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Earlier this week, MicroVision announced industry veteran Glen DeVos will join the company as CTO to focus on global engineering and product strategy.

“With a well-capitalized balance sheet including $75 million in cash and cash equivalents and access to additional capital of up to $161 million subject to certain conditions, we believe we are in a strong position to support customer demand and commit to high-volume deliveries,” Sharma said.

MicroVision executives will further discuss the quarter on a call with investors and analysts at 4:30 p.m. ET.

MVIS Price Action: MicroVision shares were down 5.78% after-hours, trading at $1.31 at the time of publication Wednesday, according to Benzinga Pro.

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Photo: courtesy of MicroVision.