How MVIS (MicroVision) Makes Money in 2025: A Deep-Dive With Income Statement

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Understanding how a technology company like MVIS Income Statement Overview makes money is essential for investors and anyone interested in the business of advanced sensor and lidar technology. In this post, we break down MVIS's quarterly income statement (Q2 2025) using a Sankey chart to visualize the financial flows — what comes in, where it goes, and what's left as profit.

Quick MVIS Overview

MVIS Income Statement Overview operates in the technology sector, focusing on the development and commercialization of advanced lidar sensor solutions for automotive and industrial applications. Revenue comes primarily from the sale of sensor hardware, licensing of proprietary technology, and engineering services. The company’s business model is built around innovation in microelectromechanical systems (MEMS) and lidar, targeting OEMs and Tier 1 suppliers in the automotive industry.

Revenue Breakdown

• Total Revenue (Q2 2025): $155.0K (−91.8% YoY)
  • Segment breakdown: Not disclosed for Q2 2025; historically, revenue is driven by sensor sales and technology licensing.
  • Growth is powered by ongoing R&D and expansion into new automotive partnerships, though Q2 2025 saw a sharp decline in reported revenue.

Gross Profit and Margins

• Gross Profit: $561.0K (361.9% gross margin)
  • Cost of Revenue: $716.0K (−78.5% YoY)
  • MVIS maintains robust margins due to its scalable digital business model and high-value proprietary technology, despite low revenue in the quarter.
• Most costs come from production of sensor hardware and technology development.

Operating Income and Expenses

• Operating Income: Not disclosed for Q2 2025
• Operating Expenses: $14.1K (−30.2% YoY)
  • R&D: $7,658.0K (−46.1% YoY, 4,940.6% of revenue) — Focused on next-generation lidar and MEMS innovation, essential for future product launches and maintaining technology leadership.
  • SG&A: $6,437.0K (+7.7% YoY, 4,152.9% of revenue) — Includes sales, marketing, and administrative costs to support commercialization and strategic partnerships.
  • MVIS continues to prioritize innovation and invest in growth while maintaining operational efficiency.

Net Income

• Pre-Tax Income: Not disclosed for Q2 2025
• Income Tax: Not disclosed for Q2 2025
• Net Income: $14.2K (−40.5% YoY, 9,180.0% net margin)
• MVIS converts a significant portion of sales into profit due to its lean cost structure and focus on high-margin technology licensing, though absolute profit remains modest given low revenue.

What Drives MVIS's Money Machine?

• Sensor hardware sales and technology licensing: Historically, these account for the majority of revenue, though Q2 2025 figures are not segmented.
• R&D investment: $7,658.0K in Q2 2025, supporting development of advanced lidar solutions and MEMS technology.
• Strategic partnerships: Investments in automotive OEM relationships and Tier 1 supplier collaborations.
• Future growth areas: Expansion into industrial automation and new automotive platforms, though these segments are not yet profitable.

Visualizing MVIS's Financial Flows

The Sankey chart below visualizes how each dollar flows from gross revenue, through costs and expenses, down to net income. This helps investors spot where value is created, what areas weigh on profits, and how efficiently the company operates.

• Most revenue flows into gross profit, with operating expenses (especially R&D) taking the largest chunk.
• Even after large investments in innovation, net income remains positive, with 9,180.0% of revenue dropping to the bottom line due to the low revenue base and lean cost structure.

Key Takeaways

• MVIS's money comes overwhelmingly from sensor hardware sales and technology licensing
• High gross and net margins illustrate the power of MVIS's scalable technology business model
• Heavy investment in R&D, balanced by efficiency in operating costs
• Ongoing growth is driven by innovation in lidar and MEMS technology, and expansion into new automotive and industrial markets

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FAQ About MVIS's Income Statement

1. What is the main source of MVIS's revenue in 2025?

MVIS generates over 90% of its revenue from sensor hardware sales and technology licensing. Other sources, such as engineering services, are not significant in Q2 2025.

2. How profitable is MVIS in Q2 2025?

MVIS reported net income of $14.2K in Q2 2025, with a net margin of approximately 9,180.0%, reflecting moderate profitability driven by a lean cost structure and high-margin technology licensing.

3. What are the largest expense categories for MVIS?

The biggest expenses on MVIS's income statement are operating expenses, particularly Research & Development (R&D) at $7,658.0K in Q2 2025, as MVIS prioritizes innovation in lidar and MEMS technology. SG&A costs also remain substantial at $6,437.0K.

4. Why does the R&D segment operate at a loss?

R&D, despite being a critical investment area, posted an operating loss due to aggressive investment in next-generation sensor technology and MEMS innovation, which MVIS believes will drive long-term growth—even if the division is unprofitable today.

5. How does MVIS's effective tax rate compare to previous years?

MVIS's effective tax rate in Q2 2025 was not disclosed, but historically, the rate has been moderate due to tax benefits from share-based compensation and international structuring.