Published on 18 Dec 2023 on Zacks via Yahoo Finance
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.