Why MicroVision Stock Skyrocketed Today
Shares of MicroVision (NASDAQ: MVIS) have skyrocketed today, up by 17% as of 12:50 p.m. EST, after the company reported fourth-quarter results. MicroVision continues its march toward commercializing its technology and generating product revenue.
MicroVision recognized $395,000 in licensing and royalty revenue in the fourth quarter, and incurred nearly $4 million in operating expenses. That resulted in an operating and net loss of approximately $3.6 million, or $0.02 per share. The company, which is developing lidar sensors for the automotive industry, has been making progress toward commercialization in recent months, achieving various milestones related to partnerships with customers.
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Source Fool.com
