NEW YORK, August 3, 2026, 09:37 EDT
MicroVision, Inc. NASDAQ:MVIS started trading on a split-adjusted basis Monday, increasing its potential issuance capacity by 70%. Based on figures from the company’s May 28 proxy, 120.7 million common shares remain available following current allocations.
The stock traded around $4.07 soon after the market opened, up roughly 2% from Friday’s adjusted closing price of $3.99. U.S. cash markets were open at press time.
The adjustment followed an uneven reduction in capital. Shares in circulation declined by 93.3% after a 1-for-15 reverse split. Total authorized common stock was reduced by only 70.6%, moving from 510 million to 150 million.
Shares now total 5.25 times the estimated outstanding amount, compared to 0.21 times prior to the split. As a result, relative issuance capacity increased by a factor of 25.5.
| Capital measure | Before split | 1-for-15 basis | Change |
|---|---|---|---|
| Shares outstanding | 344.646 million | 22.976 million | -93.3% |
| Authorized common shares | 510.000 million | 150.000 million | -70.6% |
| Available after reserves | 70.930 million | 120.729 million | +70.2% |
| Available divided by outstanding | 0.206 times | 5.254 times | 25.5 times higher |
Company estimates are based on share counts as of May 28. Changes have been calculated, but rounding and subsequent issuances could affect the final totals.
The split did not alter proportional ownership, aside from fractional adjustments. Increased capacity becomes relevant only if MicroVision sells securities. Its proxy statement cautioned that any future sales may dilute current shareholders’ holdings.
Chief Executive Glen DeVos stated, “The reverse stock split is a strategic step that supports our continued Nasdaq listing.” Trading on a split-adjusted basis started Monday, with the MVIS symbol unchanged. MicroVision, Inc.
The stock started Monday with upward momentum. The adjusted close on Friday rose 8.75%, resulting in a 5.7% gain week-over-week. However, shares finished lower in three sessions.
| Date | Split-adjusted close | Daily move |
|---|---|---|
| July 24 | $3.776 | down 8.57% |
| July 27 | $3.803 | up 0.72% |
| July 28 | $3.710 | down 2.45% |
| July 29 | $3.630 | down 2.14% |
| July 30 | $3.669 | up 1.07% |
| July 31 | $3.990 | up 8.75% |
Weekly changes reflect split-adjusted closing price movements.
The next confirmed catalyst comes on Thursday. MicroVision plans to release its second-quarter results after market close, followed by a conference call at 4:30 p.m. EDT.
Revenue for the first quarter totaled $935,000. Operating expenses amounted to $23.9 million. Cash used in operations was $16.4 million, resulting in $46.1 million in cash at the end of the quarter.
Revenue increased by 58.7%, while costs rose at a quicker pace. Operating expenses jumped 69.5%, and cash usage went up 16.3%. The net loss decreased by 12.1%.
| Financial measure | Q1 2026 | Q1 2025 | Change |
|---|---|---|---|
| Revenue | $0.935 million | $0.589 million | up 58.7% |
| Operating expenses | $23.857 million | $14.079 million | increased 69.5% |
| Net loss | $25.294 million | $28.779 million | loss shrank by 12.1% |
| Operating cash use | $16.4 million | $14.1 million | rose 16.3% |
Percentages reflect figures provided in MicroVision’s official results.
Given this burn rate, cash on hand at quarter’s end was enough for roughly 2.8 quarters. This calculation is straightforward math, not an official forecast from management. MicroVision’s claim of 12-month funding sufficiency factored in anticipated financing.
MicroVision reported in June that it had approximately $42 million left as of March 31. The filing upheld availability for its at-the-market program. At $3.99 on Friday, fully utilizing this program could mean around 10.5 million shares. An initial estimate suggests this is 45.8% of the proxy’s post-split total.
The estimate is based on all shares being sold at a single price. Realised proceeds, timing, and dilution may vary significantly. The number reflects potential capacity, not actual plans.
| Selected lidar company | Q1 2026 revenue | March 31 cash or liquidity* | Revenue versus MicroVision |
|---|---|---|---|
| MicroVision, Inc. NASDAQ:MVIS | $0.935 million | $46.1 million | 1.0 times |
| Ouster, Inc. NASDAQ:OUST | $49.0 million | $175.0 million | 52.4 times |
| Aeva Technologies, Inc. NASDAQ:AEVA | $6.3 million | $99.5 million | 6.7 times |
| Innoviz Technologies Ltd. NASDAQ:INVZ | $7.1 million | $60.1 million | 7.6 times |
Cash and liquidity metrics as reported by companies vary and are not entirely comparable. Revenue multiples have been computed.
The disparity in revenue compared to listed lidar competitors is significant. Ouster posted quarterly revenue over 52 times greater than MicroVision’s. Both Aeva and Innoviz reported at least sixfold higher revenue.
Risks are still elevated. Reverse splits do not generate customer interest or recurring income. Additional stock offerings or note conversions could lead to dilution for shareholders. The proxy further cautioned that prices could fall after the split.
Thursday’s update will reveal if MicroVision’s expanded portfolio is leading to increased sales. Key indicators for investors include revenue, use of operating cash, and fully diluted share count. These figures will indicate if the company’s financial flexibility is translating into advances in the business.
