aesthetic.computer
Monorepo for Aesthetic.Computer
aesthetic.computer
1<!DOCTYPE html>
2<html>
3<head>
4<meta charset="UTF-8">
5<style>
6 @page {
7 size: letter;
8 margin: 0.75in 0.85in;
9 }
10 body {
11 font-family: 'Helvetica Neue', Helvetica, Arial, sans-serif;
12 font-size: 11pt;
13 line-height: 1.55;
14 color: #1a1a1a;
15 }
16 h1 {
17 font-size: 20pt;
18 margin-bottom: 4px;
19 color: #111;
20 }
21 h1 .sub {
22 font-size: 12pt;
23 font-weight: normal;
24 color: #666;
25 }
26 .dateline {
27 color: #888;
28 font-size: 9.5pt;
29 margin-bottom: 18px;
30 }
31 h2 {
32 font-size: 13pt;
33 color: #2a5a8a;
34 border-bottom: 1px solid #ccc;
35 padding-bottom: 3px;
36 margin-top: 22px;
37 margin-bottom: 8px;
38 }
39 h3 {
40 font-size: 11.5pt;
41 color: #333;
42 margin-top: 14px;
43 margin-bottom: 4px;
44 }
45 p { margin: 6px 0; }
46 a { color: #2a5a8a; }
47 .highlight {
48 background: #f0f6ff;
49 border-left: 3px solid #2a5a8a;
50 padding: 8px 12px;
51 margin: 10px 0;
52 font-size: 10.5pt;
53 }
54 .highlight strong { color: #1a3a5a; }
55 blockquote {
56 border-left: 2px solid #ccc;
57 margin: 8px 0;
58 padding: 4px 12px;
59 color: #555;
60 font-style: italic;
61 font-size: 10.5pt;
62 }
63 table {
64 border-collapse: collapse;
65 width: 100%;
66 font-size: 10pt;
67 margin: 8px 0;
68 }
69 th {
70 background: #f0f0f0;
71 text-align: left;
72 padding: 5px 8px;
73 border: 1px solid #ddd;
74 font-weight: 600;
75 }
76 td {
77 padding: 4px 8px;
78 border: 1px solid #ddd;
79 }
80 .entry {
81 margin-bottom: 14px;
82 page-break-inside: avoid;
83 }
84 .entry-date {
85 font-weight: bold;
86 color: #2a5a8a;
87 font-size: 10pt;
88 }
89 .entry-title {
90 font-weight: bold;
91 font-size: 11pt;
92 }
93 .entry-desc {
94 font-size: 10.5pt;
95 color: #333;
96 }
97 .era {
98 font-size: 10pt;
99 font-weight: bold;
100 color: #7850b4;
101 text-transform: uppercase;
102 letter-spacing: 0.05em;
103 margin-top: 16px;
104 margin-bottom: 6px;
105 border-top: 1px solid #ddd;
106 padding-top: 8px;
107 }
108 .footer {
109 margin-top: 24px;
110 padding-top: 10px;
111 border-top: 1px solid #ccc;
112 font-size: 9pt;
113 color: #999;
114 }
115 .toc a {
116 text-decoration: none;
117 color: #2a5a8a;
118 }
119 .toc {
120 font-size: 10pt;
121 line-height: 1.8;
122 }
123 ul { margin: 4px 0; padding-left: 20px; }
124 li { margin: 2px 0; font-size: 10.5pt; }
125</style>
126</head>
127<body>
128
129<h1>MicroVision (MVIS) Report<br><span class="sub">Compiled for Walt Scudder — March 2026</span></h1>
130<div class="dateline">Prepared by Jeffrey via Aesthetic Computer · Source: family email archive (2015–2026) + current market data</div>
131
132<!-- ===== CURRENT STATE ===== -->
133<h2>Current State of MVIS (March 2026)</h2>
134
135<div class="highlight">
136 <strong>Stock Price:</strong> $0.61/share ·
137 <strong>Market Cap:</strong> ~$190M ·
138 <strong>Analyst Target:</strong> $2.50 (Strong Buy) ·
139 <strong>Ownership:</strong> 27.5% institutional, 9.8% insiders, 62.7% retail
140</div>
141
142<p><strong>Recent developments:</strong></p>
143<ul>
144 <li>New CEO <strong>Glen DeVos</strong> executing "Pivot to Profit" strategy</li>
145 <li>Acquired <strong>Luminar Technologies' LiDAR assets</strong> (Iris + Halo sensors) for $33M — completed Feb 2026</li>
146 <li>Raised <strong>$43M via senior secured convertible notes</strong> to accelerate acquisition synergies</li>
147 <li>CEO, directors, and executives <strong>buying MVIS stock</strong> (March 2026)</li>
148 <li>Partnerships with <strong>Anduril</strong> (defense), <strong>ZF</strong> (auto Tier 1), <strong>NVIDIA</strong> (AI/compute)</li>
149</ul>
150
151<p>Sources: <a href="https://ir.microvision.com/">MicroVision IR</a> · <a href="https://finance.yahoo.com/quote/MVIS/">Yahoo Finance</a> · <a href="https://ir.microvision.com/news/press-releases/detail/436/microvision-announces-agreement-to-acquire-luminar-assets">Luminar Acquisition PR</a></p>
152
153<!-- ===== LATEST NEWS ===== -->
154<h2>Latest News Timeline (Dec 2025 – Mar 2026)</h2>
155
156<div class="entry">
157 <span class="entry-date">2026-03-16</span> · <span class="entry-title">Insiders Buy $310K in MVIS Stock</span>
158 <div class="entry-desc">All executive officers and U.S. board members committed to purchase shares at <strong>$0.5322/share</strong> — direct purchases from the company, not open market. CEO Glen DeVos led the effort. <a href="https://www.stocktitan.net/news/MVIS/micro-vision-ceo-directors-and-executives-buy-mvis-4d82b0ctt79m.html">Source</a></div>
159</div>
160
161<div class="entry">
162 <span class="entry-date">2026-03-05</span> · <span class="entry-title">D. Boral Capital Downgrades MVIS to Hold</span>
163 <div class="entry-desc">Downgrade from Buy to Hold, citing "uncertainty around near-term sales growth and continued spending pressures." Stock fell ~19% post-earnings.</div>
164</div>
165
166<div class="entry">
167 <span class="entry-date">2026-03-04</span> · <span class="entry-title">Q4 & Full Year 2025 Earnings</span>
168 <div class="entry-desc">
169 Q4 revenue: <strong>$0.2M</strong> (vs $1.7M prior year). Full year 2025: <strong>$1.2M</strong> (vs $4.7M in 2024). Net loss included $29.4M impairment charge.<br>
170 <strong>2026 revenue guidance: $10–15M</strong> — mostly industrial, with balance from automotive (includes Luminar streams).<br>
171 Cash burn for 2026: $65–70M. Cash on hand: <strong>$74.8M</strong>.<br>
172 <a href="https://www.fool.com/earnings/call-transcripts/2026/03/04/microvision-mvis-q4-2025-earnings-transcript/">Transcript</a> · <a href="https://seekingalpha.com/news/4561075-microvision-outlines-10m-15m-2026-revenue-target-amid-lidar-2_0-transformation-and-expanded">Seeking Alpha</a>
173 </div>
174</div>
175
176<div class="entry">
177 <span class="entry-date">2026-02-25</span> · <span class="entry-title">CEO Fireside Chat — "LiDAR 2.0" Strategy</span>
178 <div class="entry-desc">Glen DeVos outlined rationale for two acquisitions and the "LiDAR 2.0" transformation with expanded defense push. <a href="https://ir.microvision.com/news/press-releases/detail/438/microvision-business-update-and-fireside-chat-on-february">Source</a></div>
179</div>
180
181<div class="entry">
182 <span class="entry-date">2026-02-24</span> · <span class="entry-title">$43M Convertible Notes Issued</span>
183 <div class="entry-desc">Senior secured notes to defer repayment obligations and accelerate Luminar + Scantinel integration. <a href="https://www.accessnewswire.com/newsroom/en/aerospace-and-defense/microvision-enhances-financial-position-to-accelerate-benefits-of-acquisition-1140273">Source</a></div>
184</div>
185
186<div class="entry">
187 <span class="entry-date">2026-01-27</span> · <span class="entry-title">Luminar Assets Acquisition ($33M)</span>
188 <div class="entry-desc">Acquired Iris + Halo LiDAR sensor IP, inventory, key engineering talent, and select commercial contracts. <a href="https://ir.microvision.com/news/press-releases/detail/436/microvision-announces-agreement-to-acquire-luminar-assets">Source</a></div>
189</div>
190
191<div class="entry">
192 <span class="entry-date">2025-12-16</span> · <span class="entry-title">First MOVIA L Shipments — EU Defense OEM</span>
193 <div class="entry-desc">Initial order for MOVIA L sensors with integrated software shipped. Repeat orders continuing in 2026. DeVos: suited for "mission-critical systems, whether protecting lives on the battlefield or cargo in industrial transport." <a href="https://ir.microvision.com/news/press-releases/detail/435/microvision-reports-commercial-momentum-in-industrial">Source</a></div>
194</div>
195
196<div class="entry">
197 <span class="entry-date">2025-11-10</span> · <span class="entry-title">Scantinel Photonics Acquisition (FMCW LiDAR)</span>
198 <div class="entry-desc">Acquired 1550nm FMCW ultra-long-range LiDAR tech + team in southern Germany. Targets commercial vehicles.</div>
199</div>
200
201<h3>Product Roadmap</h3>
202<ul>
203 <li><strong>MOVIA S</strong> — next-gen industrial sensor, production launch <strong>Q4 2026</strong></li>
204 <li><strong>FMCW ultra-long-range</strong> — roadmap via ex-Scantinel team (Germany)</li>
205 <li><strong>MOVIA L</strong> — shipping now to EU defense OEM, repeat orders ongoing</li>
206 <li><strong>MAVIN</strong> — long-range ADAS sensor, integrated with <strong>NVIDIA DRIVE</strong> platform</li>
207</ul>
208
209<h3>Peter's MVIS Blog (Latest)</h3>
210<ul>
211 <li><strong>Aug 8, 2025</strong> — <em>"Building a skyscraper"</em> — Compares MVIS to a $200M Miami lot: deep underground work invisible for months before the structure rapidly rises.</li>
212 <li><strong>May 20, 2025</strong> — <em>"Brain Trust compares Microvision to a biotech"</em> — At a pre-investor dinner in Redmond, attendees likened MVIS to biotech: no current earnings, but underlying assets carry huge potential.</li>
213 <li><strong>Apr 21, 2025</strong> — <em>"Do Not Sell."</em></li>
214</ul>
215<p>Blog: <a href="https://petersmvis.blogspot.com/">petersmvis.blogspot.com</a></p>
216
217<!-- ===== AIM THEORY ===== -->
218<h2>AIM Intelligent Machines — Takeover Theory</h2>
219
220<div class="highlight">
221 <strong>Walt's call:</strong> AIM Intelligent Machines will take over MicroVision. They now share office space.
222</div>
223
224<p><a href="https://aim.vision/">AIM Intelligent Machines</a> retrofits heavy earthmoving equipment (excavators, dozers, trucks) to operate autonomously using LiDAR + AI. They're DCVC-backed with defense contracts.</p>
225
226<p><strong>Why the fit is almost too clean:</strong></p>
227<ul>
228 <li>AIM is in <strong>Bellevue/Monroe, WA</strong> — a few miles from MVIS in <strong>Redmond, WA</strong></li>
229 <li>AIM needs compact, affordable LiDAR for harsh outdoor environments — MVIS makes exactly that</li>
230 <li>MVIS's MAVIN (long-range) + MOVIA (short/mid-range) at ~$250/unit fits AIM's cost model</li>
231 <li>Overlapping defense angle: AIM defense contracts + MVIS/Anduril partnership</li>
232 <li>MVIS at ~$190M market cap is very acquirable</li>
233 <li><strong>Shared offices</strong> = deeper than a partnership (joint engineering, due diligence, or pre-acquisition integration)</li>
234</ul>
235
236<p>Sources: <a href="https://aim.vision/">AIM website</a> · <a href="https://www.dcvc.com/companies/aim/">DCVC portfolio</a> · <a href="https://www.bbb.org/us/wa/bellevue/profile/robots/aim-intelligent-machines-1296-1000163174">AIM BBB (Bellevue)</a></p>
237
238<!-- ===== GROK VALUATION ===== -->
239<h2>Grok AI Blind Valuation (March 20, 2026)</h2>
240
241<p>Grok was prompted to value a hypothetical company matching MVIS's exact capabilities <em>without naming MicroVision</em> — avoiding biased press coverage per Peter's technique.</p>
242
243<div class="highlight">
244 <strong>Market Cap Estimate:</strong> $2–5 billion (bull case: $5–10B by 2028)<br>
245 <strong>NED Licensing Deal:</strong> $200–500 million<br>
246 <strong>Implied Price Target:</strong> $6–$16/share<br>
247 <strong>Short killer:</strong> A special dividend of $2 from NED licensing would devastate shorts
248</div>
249
250<h3>Market Opportunity (Grok's Numbers)</h3>
251<table>
252 <tr><th>Segment</th><th>2025 Market</th><th>2030 Projection</th><th>MVIS Revenue Potential</th></tr>
253 <tr><td>Automotive LiDAR (ADAS)</td><td>$1.2–1.9B</td><td>$9–25B</td><td>$500M–$2B (5–10% share)</td></tr>
254 <tr><td>Industrial LiDAR (forklifts, heavy equip)</td><td>$3–8B</td><td>$6–13B</td><td>$200–500M</td></tr>
255 <tr><td>AR Near-Eye Display</td><td>$2.2B</td><td>$6.7B</td><td>$300–800M</td></tr>
256</table>
257
258<h3>Comparable Companies</h3>
259<table>
260 <tr><th>Company</th><th>Focus</th><th>Market Cap</th></tr>
261 <tr><td>Hesai Group</td><td>Auto/Industrial LiDAR</td><td>~$3.8B</td></tr>
262 <tr><td>Ouster</td><td>Multi-sector LiDAR</td><td>~$1.3B</td></tr>
263 <tr><td>Aeva Technologies</td><td>Automotive LiDAR</td><td>~$0.9B</td></tr>
264 <tr><td>Himax Technologies</td><td>Display tech (AR)</td><td>~$1.7B</td></tr>
265 <tr><td>Kopin Corporation</td><td>Micro-displays for AR</td><td>~$0.4B</td></tr>
266 <tr><td><strong>MicroVision</strong></td><td><strong>LiDAR + NED + AR</strong></td><td><strong>~$0.19B</strong></td></tr>
267</table>
268
269<p><strong>Peter's AI search tip:</strong></p>
270<blockquote>"If you tell Grok to eliminate certain biased sources it will do that, and the answers are often very different... as Microvision has gotten a lot of bad/biased press, eliminating that will give a better answer."</blockquote>
271
272<!-- ===== REVERSE CHRONOLOGY ===== -->
273<h2>Reverse Chronology — 11 Years of MVIS Research</h2>
274
275<div class="era">2025 — Anduril, ZF, NVIDIA Partnerships</div>
276
277<div class="entry">
278 <span class="entry-date">2025-07-11</span> · <span class="entry-title">MicroVision Retail Investor Day Town Hall</span>
279 <div class="entry-desc">Replay: <a href="https://www.reddit.com/r/MVIS/s/WmFLRqzNTF">Reddit thread</a></div>
280</div>
281
282<div class="entry">
283 <span class="entry-date">2025-04-05</span> · <span class="entry-title">CoPilot Analysis: Anduril + ZF + NVIDIA</span>
284 <div class="entry-desc">PDF analyzing MVIS's defense/auto/AI partnerships. <a href="https://assets.aesthetic.computer/mvis/2025%20CoPilot%20discussion%20on%20Mircrovision's%20collaboration%20with%20Anduril,%20ZF%20and%20NVIDIA.pdf">Download PDF</a></div>
285</div>
286
287<div class="era">2024 — Interactive Spreadsheet Analysis</div>
288
289<div class="entry">
290 <span class="entry-date">2024-10-09</span> · <span class="entry-title">MVIS Lidar Spreadsheet v2 (Autos + Industrial Robots)</span>
291 <div class="entry-desc">Interactive spreadsheet with user-adjustable variables. <a href="https://assets.aesthetic.computer/mvis/fall-2024/spreadsheet.html">View online</a></div>
292</div>
293
294<div class="entry">
295 <span class="entry-date">2024-03-17</span> · <span class="entry-title">MVIS Lidar Spreadsheet v1</span>
296 <div class="entry-desc">"All the cells highlighted are variables where users can input their own ideas and it will do the calculations."</div>
297</div>
298
299<div class="era">2021 — TD Ameritrade Review</div>
300
301<div class="entry">
302 <span class="entry-date">2021-11-17</span> · <span class="entry-title">Buy Back Recommendation</span>
303 <div class="entry-desc">Jeffrey sold 1,100 shares at avg $13.54 ($14,894). Walt urged rebuy at $8.62. Projection: buy at $9, sell at $40 = $34,100 profit.</div>
304</div>
305
306<div class="era">2020 — Amazon Breadcrumbs & Volume Explosion</div>
307
308<div class="entry">
309 <span class="entry-date">2020-05-09</span> · <span class="entry-title">Trading Volume Explosion</span>
310 <div class="entry-desc">842M shares traded (56x YoY). 6-day volume = 5x the entire 130M float. "My gut tells me something big is going on."</div>
311</div>
312
313<div class="entry">
314 <span class="entry-date">2020-01-07</span> · <span class="entry-title">Amazon Breadcrumbs — The Salmon Platter</span>
315 <div class="entry-desc">Walt discovered MVIS data sheet image matched a Whole Foods listing. Peter confirmed: Amazon engineer reacted with "shock and startle" about the laser projector in Alexa. <a href="http://petersmvis.blogspot.com/2020/01/amazon-breadcrumb.html">Peter's blog post</a></div>
316</div>
317
318<div class="era">2019 — PPS Modeling & Bull/Bear Debate</div>
319
320<div class="entry">
321 <span class="entry-date">2019-03-10</span> · <span class="entry-title">Future PPS Calculations</span>
322 <div class="entry-desc">Walt's bull case: 1B units, PE 14, 30%+ margins. Chad Zawistowski's bear case: 35M units, PE 5, $1.70 target. Known deals: $25.2M contract (HoloLens 2), $10M display-only license.</div>
323</div>
324
325<div class="era">2018 — "MSFT and AMZN Are the Mystery Customers"</div>
326
327<div class="entry">
328 <span class="entry-date">2018-08-02</span> · <span class="entry-title">Q2 CC Analysis (via Roger Collamati)</span>
329 <div class="entry-desc">"I personally think two of the big ones MVIS has been working with are MSFT and AMZN." Roger: "Hang in there."</div>
330</div>
331
332<div class="era">2017 — Analyst Reports & Chinese Smartphones</div>
333
334<div class="entry">
335 <span class="entry-date">2017-07-26</span> · <span class="entry-title">VOGA V Phone (MVIS Engine Inside)</span>
336 <div class="entry-desc">"I think this phone with the MVIS engine will become very popular in China." <a href="http://petersmvis.blogspot.com/2017/07/voga-v-review.html">Peter's review</a></div>
337</div>
338
339<div class="entry">
340 <span class="entry-date">2017-03-23</span> · <span class="entry-title">RDI Bullish Report + Apple/STM Rumors</span>
341 <div class="entry-desc">"If rumors about STM having large order from Apple for a 3D sensor that includes Microvision's product prove true — this stock could be a real winner."</div>
342</div>
343
344<div class="era">2016 — "Bottom of the First Inning"</div>
345
346<div class="entry">
347 <span class="entry-date">2016-03-08</span> · <span class="entry-title">Q4 CC: Baseball Analogy</span>
348 <div class="entry-desc">"MVIS has a runner (Sharp) on first and another runner (Sony) on second with no outs." Tracked Robohon, Xperia Agent, Foxconn buying Sharp.</div>
349</div>
350
351<div class="entry">
352 <span class="entry-date">2016-01-06</span> · <span class="entry-title">CES 2016: Sony MPCL1 + Ford HUD</span>
353 <div class="entry-desc">MVIS tech at CES through Sony, Celluon ($299–$450 projectors), Ford HUD. You gave me the Sony MPCL1 for Christmas.</div>
354</div>
355
356<div class="era">2015 — The Beginning</div>
357
358<div class="entry">
359 <span class="entry-date">2015-07-27</span> · <span class="entry-title">Roger Collamati: "Why MicroVision?"</span>
360 <div class="entry-desc">"Why this company will be the next big investment to have." MVIS at $3.40. Roger's 15-person distribution list.</div>
361</div>
362
363<div class="entry">
364 <span class="entry-date">2015-06-09</span> · <span class="entry-title">Peter's Blog: "Why MicroVision? Because THIS."</span>
365 <div class="entry-desc">The founding thesis: consumers demand bigger screens, PicoP projection is the answer. This idea evolved through interactive displays, HoloLens, LiDAR, and defense tech over the next decade. <a href="http://petersmvis.blogspot.com/">Peter's MVIS Blog</a></div>
366</div>
367
368<!-- ===== LINKS ===== -->
369<h2>Key Links</h2>
370<ul>
371 <li><a href="https://ir.microvision.com/">MicroVision Investor Relations</a></li>
372 <li><a href="https://finance.yahoo.com/quote/MVIS/">MVIS on Yahoo Finance</a></li>
373 <li><a href="https://www.reddit.com/r/MVIS/">r/MVIS Reddit Community</a></li>
374 <li><a href="http://petersmvis.blogspot.com/">Peter's MVIS Blog</a></li>
375 <li><a href="https://aim.vision/">AIM Intelligent Machines</a></li>
376 <li><a href="https://www.reddit.com/r/Anduril/s/04VflOEqzW">Anduril Reddit Thread (2026)</a></li>
377 <li><a href="https://www.pixelworks.com/en">Pixelworks</a></li>
378 <li><a href="https://assets.aesthetic.computer/mvis/2025%20CoPilot%20discussion%20on%20Mircrovision's%20collaboration%20with%20Anduril,%20ZF%20and%20NVIDIA.pdf">Anduril/ZF/NVIDIA CoPilot Analysis (PDF)</a></li>
379 <li><a href="https://assets.aesthetic.computer/mvis/fall-2024/spreadsheet.html">Your MVIS Lidar Spreadsheet (online)</a></li>
380</ul>
381
382<div class="footer">
383 Compiled from 45+ emails spanning 2015–2026 · aesthetic.computer/microvision · March 20, 2026
384</div>
385
386</body>
387</html>