New York, May 28, 2026, 16:01 EDT
MicroVision Inc. shares fell in late U.S. trading on Thursday, slipping 2.6% to $0.6232 as the lidar sensor maker traded weaker than the broader small-cap tape. The stock moved between $0.593 and $0.6497 on volume of about 5.38 million shares, while the iShares Russell 2000 ETF, a common small-cap proxy, was up 0.7%.
The move came in a shortened U.S. trading week after Nasdaq closed on Monday for Memorial Day. That matters because there was no holiday buffer on Thursday: the pressure was plain trading, not an exchange closure or calendar quirk.
MicroVision makes lidar, short for light detection and ranging, a sensor technology that uses laser pulses to map surroundings. The Redmond, Washington-based company is trying to sell that technology into automotive, industrial, security and defense markets, where orders can be large but sales cycles are slow.
The stock action puts attention back on the company’s first-quarter update this month. MicroVision reported revenue of $0.9 million, up from $0.6 million a year earlier, but its operating expenses rose to $23.9 million and it posted a net loss of $25.3 million, or 8 cents a share. Cash used in operations was $16.4 million.
Chief Executive Glen DeVos said in that release that the company had made “accelerating progress” after buying assets from Luminar Technologies and Scantinel Photonics. He also said MicroVision had integrated teams and products and was using ready-to-ship sensor inventory to support customer relationships. MicroVision, Inc.
The quarterly filing showed why those deals are central to the story. MicroVision paid $33.2 million for Luminar assets tied to the IRIS and HALO long-range sensors, while its Scantinel deal added ultra-long-range lidar technology. The Luminar assets contributed $0.7 million in revenue and a $2.3 million net loss in the quarter.
Peer trading was mixed. Ouster fell 4.9% to $42.07, while Innoviz rose 2.5% to $0.738, a reminder that the listed lidar group remains volatile and thinly separated by execution news.
MicroVision has also tried to widen the story beyond passenger cars. On May 7, it announced a memorandum of understanding with Avular Innovations to combine MicroVision lidar and perception software with Avular drone platforms for infrastructure, mapping and navigation uses. DeVos said the collaboration targeted “complex, real-world environments,” while Avular CEO Albert Maas called it a move toward “integrated, deployable systems.” MicroVision, Inc.
But the risk case is still cash and dilution. MicroVision said in its quarterly filing that it had $46.1 million in cash and cash equivalents at March 31 and expected to fund operations for at least the next 12 months, but also said it would need more capital beyond that period. The company warned that raising capital may dilute shareholders and that, without timely funding, it may have to limit operations and could be unable to continue as a going concern.
That concern is not theoretical. A May 4 prospectus registered up to 61.3 million shares for resale tied to senior secured convertible notes due 2028; convertible notes are debt securities that can turn into shares, which can increase the share count. MicroVision said it would receive no proceeds from those resale shares.
Revenue concentration adds another pressure point. The company said three customers accounted for most first-quarter revenue: a top-ten global automotive OEM at 54%, a leading construction manufacturer at 22%, and an EU-based autonomous robotics developer at 17%. Losing one sizeable buyer would therefore hit a still-small revenue base hard.
For now, MicroVision’s market test is simple and unforgiving. The company has more sensor assets, new partner claims and a broader product lineup than it had at the start of the year. The stock, still below $1, is asking for orders and cash discipline before giving much credit.
