Published on 18 Dec 2023 on Zacks via Yahoo Finance
MicroVision (MVIS) Reaffirms Revenue Guidance for This Year
MicroVision MVIS recently reaffirmed its fiscal 2023 revenue expectations, aligning with the figures announced during the third-quarter 2023 earnings call. The company continues to expect full-year revenue to possibly be at the higher end of the previously guided range of $6.5-$8.0 million.
During the third quarter’s earnings call, MVIS disclosed its sales teams' engagement with multiple car and truck manufacturers to seek the ideal partner for implementing light detection and ranging (“LiDAR”)-based advanced safety systems in the company’s vehicles.
Their objective was to finalize this partnership in 2023, intending to start system production by 2027. However, in a recent statement, the company revealed a shift in the nomination timing to the first quarter of 2024.