MVIS · CIK 0000065770
What MicroVision, Inc. told the SEC could break it.
MicroVision is a still pre-commercial lidar business under clear liquidity strain: revenue fell 74% to $1.2 million in 2025, and it funds operations through convertible notes at low conversion prices and dilutive securities purchase agreements, while spending $33 million on the Luminar asset acquisition. Its supply chain is both foreign and concentrated — it relies on foreign suppliers and partners to manufacture components and products, exposing it to tariff instability, duties, currency swings and disruption. And it depends on a single contract-manufacturing partner for MOVIA sensor production under multimillion-dollar purchase commitments; with weak demand, some of that committed inventory has already been deemed obsolete.
3 self-disclosed vulnerabilities, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Liquidity & debt
- minimal/declining revenue funded by convertible notes and dilutive financingsmedium
MicroVision's revenue fell 74% to $1.2M in 2025 while it funds operations via convertible notes (low conversion prices) and dilutive securities purchase agreements and spent $33M on the Luminar asset acquisition — pressuring liquidity for a still pre-commercial lidar business.
“Revenue $ 1,208 $ 4,696 (3,488 ) (74.3 )”
SEC filing →As of 2026
Regulatory & policy
- foreign-supplier and tariff/trade-policy exposuremedium
MicroVision uses foreign suppliers and partners to manufacture components/products, exposing it to tariff-rate instability, foreign duties, currency volatility and global supply-chain disruption.
“In addition, we currently use foreign suppliers and partners and plan to continue to do so to manufacture current and future components and products, where appropriate.”
Supplier concentration
- single contract-manufacturing partner for MOVIA sensors (obsolescence risk)medium
MicroVision relies on a single contract-manufacturing partner for MOVIA sensor production under multi-million-dollar purchase commitments; with weak demand, some of that committed inventory has been deemed obsolete, creating adverse purchase-commitment and supply-concentration risk.
“During the quarter ended September 30, 2023, the Company entered into a $ 9.3 million purchase commitment with a contract manufacturing partner for the production of MOVIA sensor inventory to support direct sales to both automotive and non-automotive customers.”
SEC filing →As of 2026
The hidden graph
Who it depends on, and who depends on it.
Relationships surfaced from filings, including ones disclosed by the other side, which is how the non-obvious ones come to light.
Its customers
Daimler Truck North America
“The decrease in revenue for the year ended December 31, 2025 compared to the same period in 2024 was primarily due a lower sales to a leading manufacturer of agriculture equipment, as well as lower sales of MOVIA L sensors as part of RFQ evaluation processes to an industrial customer and to Daimler Truck North America and affiliates.”
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