MicroVision Re-affirms FY24 Revenue Guidance Of $8M-$10M (Est $8.88M) Subject To Customers' Approvals; Reports Preliminary Q3 Revenue Of $0.15M - $0.2M (Est $2.25M)
Portfolio Pulse from Benzinga Newsdesk
MicroVision reaffirms its FY24 revenue guidance of $8M-$10M, subject to customer approvals, despite reporting lower preliminary Q3 revenue of $0.15M-$0.2M due to a customer delaying orders. The company maintains its annual cash burn rate between $55-$60 million.
October 15, 2024 | 10:16 am
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MicroVision reaffirms its FY24 revenue guidance of $8M-$10M, but reports lower Q3 revenue due to a customer delaying orders. The company maintains its cash burn rate.
MicroVision's reaffirmation of FY24 revenue guidance is positive, but the significant drop in Q3 revenue due to a customer delaying orders is concerning. This may lead to short-term negative sentiment among investors. The maintained cash burn rate indicates stability in operations, but the revenue miss could overshadow this in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100