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REDMOND, WA - MicroVision, Inc. (NASDAQ:MVIS), known for its advanced perception technology in autonomy and mobility, has announced the successful completion of the TISAX (Trusted Information Security Assessment Exchange) assessment for its subsidiary, MicroVision GmbH. The company, currently trading at $1.22 per share with a market capitalization of approximately $299 million, has maintained a strong balance sheet with more cash than debt, according to InvestingPro data. This achievement establishes the company as a TISAX participant, a critical step for suppliers in the highly secure automotive industry.
TISAX is a standard for information security within the German automotive sector, derived from the VDA Information Security Assessment (ISA) and aligning closely with ISO/IEC 27001 standards. It is not intended for the general public but serves as a benchmark for manufacturers to ensure suppliers meet stringent cybersecurity requirements.
Glen DeVos, MicroVision’s Chief Technology Officer, emphasized the importance of this registration, stating it confirms MicroVision as a trusted partner for automotive OEMs and Tier 1 suppliers, meeting the industry’s rigorous standards.
The assessment, which was more extensive than typical evaluations, was conducted by Dekra Certification GmbH. As a result, MicroVision GmbH is now fully compliant with the VDA ISA, ensuring the protection of sensitive and confidential information. The specific results of the assessment are available through the ENX Portal, under Scope ID: SKYP87 and Assessment ID: ACLZ2W.
MicroVision’s commitment to maintaining customer trust is evident in its continued adherence to the VDA ISA and its integration of optimal technologies and expertise. The company’s focus on engineering excellence has led to the development of integrated solutions for enhanced safety across various industrial applications, including robotics, automated warehouses, agriculture, and the automotive industry.
This news, based on a press release statement, reinforces MicroVision’s dedication to contributing to safer mobility and autonomy through its innovative perception solutions, which are fueled by its proprietary technology that integrates MEMS-based laser beam scanning with machine learning software. While the company shows promising technological advancement, InvestingPro analysis reveals current challenges, including a gross profit margin of -60.35% and negative EBITDA of -$71 million in the last twelve months. For deeper insights into MicroVision’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro, which covers over 1,400 US stocks with detailed analysis and actionable intelligence.
In other recent news, MicroVision Inc. reported its Q4 2024 financial results, revealing a revenue of $1.7 million. This figure marks a significant increase from the previous year’s $500,000 but falls short of the anticipated $5 million. The company’s earnings per share (EPS) were reported at -$0.0967, which met analyst expectations. Despite the revenue growth, the shortfall compared to forecasts has drawn attention from investors. MicroVision is actively pursuing opportunities in the industrial and defense sectors, aiming to generate $30-$50 million in revenue from these verticals over the next 12 to 18 months. Additionally, the company is preparing for the National Highway Traffic Safety Administration’s 2028 automatic emergency braking requirements, which could enhance its market position. Analyst firms continue to keep a close watch on MicroVision, with some expressing optimism about its strategic direction. The company’s focus on expanding its LiDAR technology applications remains a key point of interest for stakeholders.
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