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121 Welcome to Lidar 2.0 MicroVision® HH HAS 34
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This presentation of MicroVision, Inc. (“MicroVision,” “the Company,” “we,” or “our”), and any accompanying oral presentation , contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Su ch statements include, among others: statements relating to expectations regarding our future growth, profitability, market position and addressable market size; projections, estimat es and targets; our financial condition and liquidity; our business strategies; our product plans and partnerships; and future product performance. All statements contained in this pre sentation that do not relate to matters of historical fact should be considered forward-looking statements. These statements reflect our expectations, assumptions and estimates as of the date of this presentation, and actual results may differ materially from the results predicted. The preparation of forward -looking financial guidance requires us to make estimate s and assumptions; actual results may differ materially from these estimates under different assumptions or conditions. Factors that could cause actual results for MicroVision to di ffer from the results predicted include: our history of operating losses; the need for additional capital; potential dependence on third party partners, including licensing partners and contract manufacturers; risks related to our technology and commercialization; quarterly financial and stock price performance; continued listing of our stock; successful monetizati on of our product solutions; competitive risks; risks associated with key customer or strategic relationships and activities; disruptions in the global financial markets and suppl y chains; acquisition integration risks and legal & regulatory risks. More information about potential risk factors that could affect our business and financial results is included in Micr oVision’s latest annual report on Form 10 -K for the year ended December 31, 2025, subsequent quarterly reports on Form 10 -Q, and other reports and documents filed by MicroVision from time to time with the U. S. Securities and Exchange Commission (“SEC”). In addition to financial measures presented in accordance with U.S. generally accepted accounting principles (“GAAP”), this p resentation includes certain non-GAAP financial measures, including Adjusted EBITDA and Adjusted Gross Profit. These non -GAAP measures are in addition to, and not a substitute for, or su perior to, measures of financial performance prepared in accordance with GAAP. The non-GAAP financial measures used by MicroVision may differ from the non -GAAP financial measures used by other companies. Except as required by law, we assume no obligation to update any information in this presentation to reflect events or circum stances in the future, even if new information becomes available. Unless otherwise indicated, information contained in this presentation concerning our industry, competitive positi on and the markets in which we operate is based on information from independent industry and research organization other third -party sources and management estimates. Management’s estimates are derived from publicly available information released by independent industry analysts and other third -party sources, as well as data from our internal research, and are based on assumptions made by us that we believe to be reasonable. In addition, projections, assumptions and estimates of future industry and Company performance are necessarily subject to uncertainty and risk due to a variety of factors, including those described above and in our SEC filings. These and other factors could cause results to di ffer materially from those expressed in the estimates made by independent parties and by MicroVision. MicroVision has rights to various trademarks, service marks and trade names used in connection with the operation of our busi ness. This presentation also contains trademarks, service marks and trade names of third parties, which are the property of their respective owners. The use or display of third partie s’ trademarks, service marks, trade names or products in this presentation is not intended, and does not imply, a relationship with MicroVision, or an endorsement or sponsorship by or of MicroVision. Solely for convenience, the trademarks, service marks and trade names referred to in this presentation may appear without the ®, TM or SM symbols, but such references are no t intended to indicate, in any way, that MicroVision will not assert, to the fullest extent under applicable law, its rights or the right of the applicable licensor in these trademark s, service marks and trade names. Safe Harbor Statements
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Lidar 1.0 Lidar 2.0 Hardware-first Best-in-class performance Expensive Volume drives down cost Fragile revenue Heavy burn proving technology proving value Right performance for specific use cases Designed to cost Open software as a differentiator Cost drives adoption Disciplined execution Diversified revenue streams MicroVision: built to lead Lidar 2.0 A fundamental shift from technology to value
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Portfolio + software + execution: This is how MicroVision unlocks value for customers Right performance. Right price. Right portfolio. Many applications. Open software as a lever Accelerating revenue Economics drive adoption, not the other way around. Short, long, and ultra-long-range sensing that supports many verticals. Software that lowers cost and expands capability. Converting existing commercial demand and customer relationships into revenue. Credible execution Automotive-grade DNA and a collaborative approach to partnering with customers. Experienced leadership with a track record for meeting commitments, milestones, and deliveries.
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<50m 50-300m 500-1,500mSensors Software / AI Point Cloud Perception SDK and Data Management Open S/W Framework Short range Long range Ultra long range • AI-Enabled Point Cloud to simplify hardware complexity and reduce cost • Full perception including localization, real time mapping and LCAS (Lidar Collision Avoidance) • Full tool chain for development, visualization, data management and annotation • Enables our customers to fully integrate the sensor sofware into the system software architecture - from point cloud to application layer The full suite of wavelength, scanning, and measurement technologies coupled with on-board processing System-level value unlocked with our Open Software Framework and MicroVisions AI-enabled point cloud and perception. Right portfolio. Right performance. Leading Lidar 2.0 with the most comprehensive portfolio in the industry. Movia L, S and Air 905nm flash-based sensors Halo 1550 ToF 2-D Scanning Scantinel 1550 FMCW 1-D Scanning Iris 1550 ToF 2-D Scanning
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Our portfolio unlocks new end markets Industrial Security & Defense Automotive Ruggedized packaging for harsh environments Full perception and ADAS capability on board Highly cost efficient Compact and lightweight design for drones Real-time mapping Autonomous navigation Lower total system cost Compact, low power and ultra-wide field of view Customizable open software framework More revenue streams. More revenue resilience.
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$40B market growing 25% annually Driven by perception-enabled autonomy across industries Industrial Security and defense Automotive 3 years (2028) 5 years (2030) 10 years (2035) $0 $10 $20 $30 $40 $50 Market data represent company estimates based on multiple sources
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Driving Capital Efficiency and Revenue Growth Reduced cash usage by 14% to execute Lidar 2.0 strategy Revenue (millions) 2024 2025 2026 (guidance) $5 $10 $20 $15 $80 $70 $60 $50 $40 $30 $20 $10 Cash used in operations + Capex (millions)$10 - $15 million
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2020 $5 $10 $20 $15 2021 2022 2023 2024 2025 2026 2027 MicroVision’s Transformation is Delivering in 2026 Shareholder Value Starts with Customer Success 2026 Revenue: Revenue that builds into 2027+ • IRIS Revenue approx. 70% with over 12 customers • Movia L Revenue approx. 7% with over 10 customers • Movia S Revenue approx. 10% with over 25 customers • Engineering Service Revenue approx. 13% Pipeline: 100+ customer opportunity engagements • 15+ with Automotive OEMs • 30+ with Security and Defense Companies • 70+ with Industrial OEMs and Resellers • Represents over $500M ’26 – ’30 booking opportunities 2026 Gross Margin • Top line growth that delivers 35 – 40% Gross Margin MicroVision Revenue * 2026 revenue guidance: $10M-$15M * 2026 to 2027 YOY revenue growth is anticipated, but no guidance is intended at this time
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2026 targets Accelerating revenue through new lidar programs in industrial, security, and defense verticals. Revenue $10-15M Cash used in operations, plus capex ~$60M Gross margin 35%-40%