MVIS stock holds with MicroVision's 2025 revenue at $5.7 million

MicroVision (US5949601041) stock is anchored by a 2025 revenue base of $5.7 million, net cash of $74.6 million at 31 December 2025, and a full-year net loss of $64.5 million. Those figures frame MVIS around a still-small commercial base and a balance sheet that remains central to the equity story.

Revenue at $5.7 million

MicroVision reported 2025 revenue of $5.7 million, versus $5.1 million in 2024, while gross margin improved to 13% from 7% a year earlier. The comparison matters because the company is still operating at very limited scale, even after the year-over-year revenue increase.

The same set of numbers shows that operating leverage has not yet arrived in a material way. Research and development expense was $38.4 million in 2025, down from $47.8 million in 2024, but the company still posted a $64.5 million net loss for the year.

Cash and loss shape the story

At 31 December 2025, MicroVision held $74.6 million in cash, cash equivalents, and short-term investments, compared with $86.8 million at 31 December 2024. That year-over-year decline of $12.2 million gives the balance sheet more weight than the revenue line for now.

For investors, the key comparison is simple: 2025 revenue rose 11.8% year on year, but the business still remained loss-making with a net loss of $64.5 million. The gap between sales growth and profitability is still wide, which is why every quarterly update on cost control and funding matters.

Software and lidar mix

MicroVision's automotive lidar and perception software remain the commercial core of the company. The 2025 report shows that the business still depends on converting technical development into recurring customer demand, because the top line remains in the single-digit millions.

The operating mix is also visible in the expense structure. With $38.4 million of 2025 R&D spending against $5.7 million of revenue, the company is still funding product development at a much larger scale than current sales generation.

Market value comes later

MicroVision closed 2025 with a market capitalization context defined more by cash burn and product development than by revenue breadth. The latest annual figures give the stock a clear financial reference point even without a larger commercial footprint.

As of 31 December 2025, the stock was supported by $74.6 million in net cash and a 2025 gross margin of 13%, but it also carried a $64.5 million annual loss. That combination leaves the next reporting cycle focused on funding durability, customer traction, and whether revenue can move beyond the current $5.7 million base.

MicroVision products

MicroVision's lidar and sensing platform remains the representative product area for MVIS stock. The company continues to position that technology around automotive and industrial use cases, while the 2025 numbers show that commercial scale is still limited relative to development spending.

MVIS stock and the balance sheet

MVIS stock is most usefully read through cash, loss, and revenue rather than headline growth alone. The 2025 figures show $5.7 million in revenue, $64.5 million in net loss, and $74.6 million in net cash at year-end, a mix that keeps the balance sheet central to any valuation view.