Company: MVIS
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001641172-25-009765
Chunk: 1

Company: MICROVISION, INC.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 2
Chunk 1
---
Vision, Inc. is a pioneer in laser beam scanning, or LBS technology, which is based on our patented technology in micro-electromechanical
systems, or MEMS, laser diodes, opto-mechanics, electronics, algorithms and software and how those elements are packaged into a small
form factor. Throughout our history, we have combined our proprietary technology with our development expertise to create innovative
solutions to address existing and emerging market needs, such as augmented reality microdisplay engines; interactive display modules;
consumer lidar components; and, more recently, lidar sensors and software solutions for industrial, automotive, and military markets.

In
January 2023, we acquired certain strategic assets of Germany-based Ibeo Automotive Systems GmbH, which was founded in 1998 as a lidar
hardware and software provider. Ibeo developed and launched the first lidar sensor to be automotive qualified for serial production with
a premium, or Tier 1, automotive supplier and that is currently available in passenger cars by premium original equipment manufacturers,
or OEMs. Ibeo developed software solutions, including perception and validation software, which are also used by premium OEMs. In addition,
Ibeo sold its products for non-automotive uses such as industrial, agriculture, smart infrastructure and robotics applications.

Our
integrated solution, built on our perception software stack, combines our lidar sensors, both MEMS-based and flash-based, and application
software targeted for sale to industrial mobility and autonomy companies, automotive OEMs and Tier 1 suppliers, and defense contractors.
Our deterministic AI at the edge enables critical decisions to be made locally and independent of the cloud, leading to faster responses,
improved data privacy, and reduced costs. Our mature perception software stack has met the rigorous requirements of automotive qualification
and incorporates advanced features, like localization and fusion. Our lidar sensors include MAVIN™, a MEMS-based long-range sensor
capable of small object detection, and MOVIA™, a flash-based short- to mid-range sensor, both suitable for industrial and automotive
applications. We also develop customer-specific application software, allowing expansion into a wide array of sectors.

Our
product suite also includes our validation software tool, the MOSAIK™ suite, which is targeted for use by OEMs and Tier 1s for
validating vehicle sensors for ADAS and autonomous driving, or AD, applications. In 2024, we reduced the dedicated resources and investment
into further development of MOSAIK