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

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·4 min read
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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 49% from the year-ago quarter’s reported figure.

Moreover, the consensus mark for first-quarter loss has been steady at 2 cents in the past 30 days. 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 Surprise

Microvision, Inc. Price and EPS Surprise
Microvision, Inc. Price and EPS Surprise

Microvision, Inc. price-eps-surprise | Microvision, Inc. Quote

Let’s see how things are shaping up prior to this announcement.

Factors Likely to Have Impacted Q1

MicroVision’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 Q1

In 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 Says

Our 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%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Stocks to Consider

Here are some stocks which you may consider as our proven model shows that these have the right mix of elements to beat estimates this time around:

Texas Instruments TXN has an Earnings ESP of +4.25% and holds a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.

Avnet AVT has an Earnings ESP of +0.89% and currently carries a Zacks Rank of 2.

Sirius XM Holdings SIRI has an Earnings ESP of +12.9% and a Zacks Rank of 2.

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