MicroVision, Inc. (NASDAQ:MVIS) Q1 2024 Earnings Call Transcript

Anubhav Verma: Thanks, Sumit. Can you provide more detail on cash runway? And does the company envision it will have to issue share in 2024? Let me take that question. So, let’s talk some numbers here. Our cash balance at the end of March 31st is $73 million. We have $128 million available under the ATM. While I cannot share out exact plans, but I think, our history indicates that we would only opportunistically raise capital when needed, because I think it’s very evident that to navigate this you have to be very financially — you have to be prudent financially. And bring in cash, as Sumit described, we would be accelerating our industrial revenue stream from our MOVIA product because that’s something which is short term, which brings in cash, faster than the automotive revenue.

And also some of the licensing and partnership opportunities in the sub verticals within the industrial market. So, some of these opportunities is what we are going to help to resort to monetize this asset and bring in non-dilutive cash to further support the cash burn and the sustainability of the company. And I think it is the most critical ingredient at this point, how do you survive the couple of years to emerge as one of the few last-standing businesses in the LiDAR industry? Because as I mentioned earlier, the demand is huge, which is waiting at the end of this decade and we just want to make sure that we are one of the few handful of players that will make it to the finish line. I think with that we’re coming up to our time here. I, again, thank all our investors for your support.

And I think we — that’s — your support is truly reflective in how the market perceives our strategy and our execution and we continue to work towards the objective that Sumit outlined, and we look forward to hearing towards our Q2 call in August for the next quarter. Thank you so much.

Sumit Sharma: Thank you.

Operator: Thank you, ladies and gentlemen. This does conclude today’s event. You may disconnect at this time, and have a wonderful day. We thank you for your participation.