Tech Convergence Will Spur Demand for New ADAS Technology

2019 Annual Meeting, 2018 Annual Report



The 2018 Annual Report was made available and the 2019 Shareholder's Meeting was scheduled today.
===
Proxy Online

Annual Meeting
In addition, a copy of the combined book 2018 Annual Report and Proxy Statement for 2019 Annual Meeting of Shareholders can be accessed below:
Materials

We are holding our MicroVision, Inc. Annual Meeting of Shareholders on May 22, 2019 at 9:00 a.m. at the Courtyard Marriott Bellevue/Redmond, 14615 NE 29th Place, Bellevue, WA 98007. The contact number of the hotel is (425) 869-5300. Doors open at 8:30 a.m.

2018 Annual Report and 2019 Proxy Statement    PDF
Combined Document 

Here is the Letter from Perry Mulligan from the 2018 Annual Report:

Dear Fellow MicroVision Stockholder, 

I believe that we made tremendous progress in 2018, and we are really excited by the sales opportunities we have for the current year. By advancing our culture, core technology, products and ability to execute, we have positioned the company to deliver our technology and solutions to multiple OEMs this year. 

Fifteen months ago, we set out with the goal of transforming MicroVision. We worked to change our corporate culture and sharpen our product roadmap. As a result, we believe we are demonstrating to our customers that they can count on our commitments and performance. Feedback from major Tier 1 technology companies has been encouraging and they appear to have welcomed the change. 

We invested in our core technology. We completed the development of new ASICs that advanced our products for our OEM, license partner and our modules. We have also developed our next generation MEMS that uses two mirrors to achieve industry leading resolution for a laser beam scanned display. Finally, we have advanced our system level performance by incorporating machine intelligence with edge computing in our modules. 

We made significant progress on our product roadmaps. We are wrapping up the final stages of our April 2017 development agreement with the Tier 1 technology company and expect to have orders for additional products and the forecast for the volume ramp shortly. 

In May 2018 we entered into a licensing agreement for our display only products with a global technology leader and received a $10 million up front license fee. We understand that there is significant interest from another Tier 1 technology company that could lead to a design award for the display only product and related purchase orders to MicroVision. 

Our interactive display product was very positively received at CES. This complete solution of hardware, software, and machine learning at the edge delivers a unique interactive experience with low latency that results in a high-quality user experience. Our interactive display product has received significant interest from multiple North America Tier 1 OEMs, and we expect orders this year for this product. 

We advanced our consumer LiDAR sensors from a proof-of-concept stage, and we started shipping the “Explorer Edition” of our 3D LiDAR engine in March that customers can use to develop their products. We believe the advanced capabilities of our sensor in the consumer LiDAR space opens up a range of possibilities for our customers. 

The results of all of these accomplishments in 2018 sets the table for revenue opportunities for us across multiple OEMS this year. I am excited about the many opportunities in front of us and want to thank you – our fellow MicroVision stockholders, customers, suppliers and employees – for your support and as we continue on our path to transform MicroVision into a profitable solutions company. 

Perry M. Mulligan Chief Executive Officer

Comments