MVIS (MVIS) financial statements
MVIS reported revenue of $1M in fiscal 2025, down 24.3% a year over 9 years.
Net income was -$95M and the operating margin -6856.6%, against -111.5% in 2016.
Free cash flow was -$59M.
The diluted share count rose 426% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from MVIS's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $15M | $10M | $18M | $9M | $3M | $2M | $664,000 | $7M | $5M | $1M |
| Cost of revenue | $10M | $10M | $11M | $9M | $1M | $2,000 | $100,000 | $3M | $8M | $19M |
| Gross profit | $4M | -$228,000 | $7M | $322,000 | $2M | $2M | $564,000 | $4M | -$3M | -$17M |
| Research and development | $12M | $15M | $25M | $19M | $10M | $24M | $30M | $57M | $49M | $32M |
| Selling, general and admin | $9M | $10M | $10M | $8M | $6M | $22M | $24M | $37M | $29M | $20M |
| Operating income | -$16M | -$25M | -$27M | -$26M | -$14M | -$44M | -$54M | -$89M | -$86M | -$83M |
| Interest expense | — | — | — | — | — | — | $62,000 | $80,000 | $4M | $19M |
| Pre-tax income | — | — | — | — | — | -$43M | -$53M | -$82M | -$96M | -$95M |
| Income tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1M | $507,000 | -$84,000 |
| Net income | -$16M | -$25M | -$27M | -$26M | -$14M | -$43M | -$53M | -$83M | -$97M | -$95M |
| EPS (diluted) | — | — | — | -$3.60 | -$1.50 | -$4.05 | -$4.80 | -$6.75 | -$6.90 | -$5.25 |
| Diluted shares | 3M | 5M | 6M | 7M | 9M | 11M | 11M | 12M | 14M | 18M |
| Gross margin | 29.7% | -2.4% | 39.6% | 3.6% | 54.8% | 99.9% | 84.9% | 61.8% | -60.3% | -1435.4% |
| Operating margin | -111.5% | -264.5% | -154.6% | -297.9% | -440.6% | -1754.8% | -8116.0% | -1224.3% | -1821.1% | -6856.6% |
| Net margin | -111.6% | -264.5% | -154.8% | -298.0% | -441.2% | -1728.0% | -7995.6% | -1141.2% | -2063.8% | -7862.7% |
Balance sheet
Fiscal years, from MVIS's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $15M | $17M | $14M | $6M | $17M | $115M | $83M | $74M | $75M | $75M |
| Receivables | $245,000 | $15,000 | $476,000 | $1M | $0 | — | $0 | $949,000 | $926,000 | $47,000 |
| Inventory | $1M | $5M | $1M | $192,000 | $0 | $2M | $2M | $4M | $2M | $745,000 |
| Total current assets | $17M | $23M | $18M | $8M | $18M | $119M | $91M | $87M | $82M | $81M |
| Property, plant and equipment | $2M | $3M | $3M | $2M | $2M | $3M | $7M | $9M | $7M | $4M |
| Total assets | $20M | $30M | $23M | $12M | $21M | $130M | $115M | $130M | $121M | $103M |
| Total current liabilities | $7M | $19M | $18M | $14M | $10M | $12M | $11M | $21M | $46M | $30M |
| Long-term debt | — | — | — | $0 | — | — | — | — | — | — |
| Total liabilities | $13M | $20M | $19M | $16M | $12M | $17M | $25M | $34M | $72M | $48M |
| Shareholders' equity | $7M | $10M | $4M | -$4M | $9M | $113M | $90M | $96M | $49M | $56M |
| Net debt | -$15M | -$17M | -$14M | -$6M | -$17M | -$83M | -$21M | -$45M | -$54M | -$32M |
Cash flow
Fiscal years, from MVIS's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$15M | -$15M | -$23M | -$24M | -$16M | -$29M | -$38M | -$67M | -$69M | -$59M |
| Capital spending | — | — | — | $745,000 | $402,000 | $2M | $4M | $2M | $374,000 | $679,000 |
| Free cash flow | — | — | — | -$25M | -$16M | -$32M | -$42M | -$69M | -$69M | -$59M |
| Stock-based compensation | $1M | $1M | $1M | $2M | $1M | $15M | $15M | $16M | $12M | $701,000 |
| Net borrowing | — | — | — | $0 | $2M | -$488,000 | -$392,000 | — | — | — |
| Free cash flow margin | — | — | — | -279.0% | -533.2% | -1275.9% | -6382.2% | -950.9% | -1467.5% | -4917.1% |
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Open MVIS in InvestinglyQuestions
What was MVIS's revenue in 2025?
$1M in fiscal 2025, from its 10-K filing.
How much free cash flow does MVIS generate?
-$59M in fiscal 2025 (operating cash flow minus capital spending).
From MVIS's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.