MicroVision makes lidar sensors and perception software for autonomous systems, targeting three end markets: automotive ADAS, industrial automation (AGVs, AMRs, and warehouse robotics), and security & defense (drones and unmanned vehicles). The hardware portfolio spans multiple sensor technologies — the MOVIA flash-based short-to-mid-range family, the MAVIN MEMS-based long-range sensor, the IRIS/HALO 1550nm time-of-flight sensors (acquired from Luminar in early 2026), and the Scantinel FMCW lidar-on-chip targeting commercial vehicles. Alongside hardware, MicroVision develops perception software that runs directly on the sensor's system-on-chip, handling object detection, classification, and collision avoidance — eliminating the need for a separate processing unit. MicroVision sells directly to automotive OEMs, Tier 1 suppliers, industrial OEMs, and defense primes. Revenue streams include hardware sales, software licensing, multi-year supply agreements, and non-recurring engineering contracts. Industrial is the near-term revenue focus, while automotive is the largest long-term opportunity but unlikely to generate material revenue before 2029. Defense is the newest vertical, with near-term revenue expected from engineering contracts. MicroVision manufactures through contract manufacturers rather than owning its own fabs. The company has not yet reached material revenue and funds operations through equity issuances and convertible debt, with cash burn of roughly $11M per quarter and runway extended into 2027.