MicroVision (MVIS) to Report Q1 Earnings: What's in Store?

Zacks2021-04-26

MicroVision MVIS is scheduled to report first-quarter 2021 results on Apr 29.For the to-be-reported quarter, the Zacks Consensus Estimate for revenues is pegged at $750,000 that indicates a decline of...

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Ragunathan
2021-04-29
Ragunathan
Ok

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The company reported a loss of 4 cents in the year-ago quarter.In fourth-quarter 2020, MicroVision generated revenues of $395,000. Moreover, the company’s net loss came in at 2 cents compared with a loss of 3 cents in fourth-quarter 2019.Microvision, Inc. Price and EPS SurpriseMicrovision, Inc. price-eps-surprise | Microvision, Inc. QuoteLet’s see how things are shaping up prior to this announcement.Factors Likely to Have Impacted Q1MicroVision’s first-quarter 2021 performance is expected to have benefited from an agreement with its April 2017 customer to transfer responsibility for component production and to sell production assets without selling any Intellectual Property (IP). Notably, the company is receiving royalty for each component shipped by the customer, which is likely to have contributed to the top line.MicroVision’s IP includes 450 issued and pending patents as well as other trade secrets and proprietary know-how.MicroVision’s laser beam scanning technology, which is used to manufacture low-cost solid state LiDAR solutions, is likely to have witnessed momentum on higher demand from OEMs dealing in augmented reality (AR), interactive displays as well as consumer LiDAR products vertical. Also, strong cash balance will enable MicroVision to pursue strategic transactions like a merger or a sale.Nonetheless, MicroVision’s first-quarter performance is expected to have been negatively impacted by the pandemic-induced supply chain disruptions. Moreover, higher expenses stemming from work on the new LiDAR sensor (parts, tools and contractors) and increases in headcount might put pressure on cash flow performance in the quarter.Key Development in Q1In February 2021, MicroVision announced that the company has collected all the vital equipment and components to complete the A-Samples of its Long Range Lidar (LRL) Sensor by April 2021 as targeted. The company expects the first- generation LRL Sensor to have range of at least 250 meters. The sensor is anticipated to speed up development of Level 3 (L3) autonomous safety and Level 4 (L4) autonomous driving features.MicroVision also added that the company is conducting outdoor testing of vital performance features of the LRL sensor on its development platform.What Our Model SaysOur proven model doesn’t conclusively predict an earnings beat for MicroVision this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.MicroVision has a Zacks Rank #3 and an Earnings ESP of 0.00%. 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