Company: MVIS
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001641172-25-022632
Chunk: 37

Company: MICROVISION, INC.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 safety, and automation systems
which depend on secure, cost-effective, and energy-efficient solutions. This software has been developed in close collaboration with
our automotive customers and we are now rapidly expanding with it into new industrial and commercial vehicle sectors.

With
engineering teams based in Redmond, Washington and Hamburg, Germany, we develop and supply integrated solutions built on our perception
software stack, incorporating application software and processing data from differentiated sensor systems. Our extensive experience in
developing and productizing core lidar hardware and software components, along with our expertise in edge computing, positions us as
a valuable commercial partner capable of delivering high-value, low-power products.

Founded
in 1993, MicroVision, 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