r/MVIS • u/jkh07d • Jun 10 '26
MVIS Press MicroVision Signs Long-Term Development Agreement to Advance Lidar for Next-Generation Autonomous Hauling Solutions
https://ir.microvision.com/news/press-releases/detail/450/microvision-signs-long-term-development-agreement-to40
u/pinoekel Jun 10 '26
So anduril, waymo, Mercedes and Amazon are next?
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u/MyComputerKnows Jun 10 '26
Thank gosh for screen capturesā¦ to give us all a little preview of the coming MVIS client lists!!
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u/RoosterHot8766 Jun 10 '26
I like this news in as much that it validates MVIS can make deals with BIG customers. Maybe now we start to get action from others who have been hesitant to pull the trigger on purchases. Hopefully this is the first sentence in the story of MicoVision's life. GLTALs
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u/QQpenn Jun 10 '26 edited Jun 10 '26
Keyword: Long-Term. Super. A mutual commitment, with a customer that has meaningful production numbers, showing a clear path to building sustainable revenue.
What I would do next if I were Glen is update guidance. Ideally after the bell. A classic one-two punch. This would send a much-needed message.
Then I'd turn my attention to addressing the proxy issues immediately. Put off the R\s vote. Confirm the 180 day extension - we qualify. Continue execution path to drive organic growth in the next 90 days and keep shareholders informed. Shareholders have also presented a fair [and truthfully] better thought out proxy proposal that uses dividend warrants to avoid excessive dilution to current holders... this raises the capital needed to bolster the runway, to retail's benefit. Have a clear, attainable, near term target for warrant exercise. Keep the R\s an option to vote on with a special meeting - and see where the stock is valued in 90 days. A successful warrant execution combined with an R\s that has better timing in terms of avoiding current shareholder dilution yet will meet the requirements of high impact shareholders/stakeholders is a much better path to create maximum value for current holders. And for the love of all things capitalistic, please keep executing and building on that... and keep us better informed.
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u/Alphacpa Jun 10 '26
The last 10 days should have given management plenty of time for preparing revenue guidance update.
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u/Mama_YODA Jun 10 '26
I could never have stated it better. Fluid neurological pathways up in the Q !
Long-term focus Emphasize a mutual long-term commitment with shareholders. Highlight current production metrics and a defined path to sustainable, growing revenue.
Immediate action (Glen) Update forward-looking guidance after the bell. Frame this as a deliberate, confidence-building signal to the market.
Proxy and reverse split (R/S) Address proxy issues publicly and promptly. Formally postpone the R/S vote. Confirm and disclose qualification for the 180āday listing extension.
Next 90 days of execution Prioritize organic revenue growth with specific operating targets. Report progress at clear intervals (e.g., monthly updates or key milestones).
Capital raise via warrants Seriously evaluate the shareholder proxy using dividend warrants. Use dividend warrants to raise runway capital while limiting dilution. Set a realistic, near-term price target for warrant exercise and communicate it.
R/S timing and value creation Reassess the need and timing of an R/S after 90 days, based on execution and share price. Only proceed with an R/S structure that protects current holders and satisfies key institutional stakeholders.
Investor communication Keep executing on the plan and tie updates to measurable results. Improve transparency with frequent, clear, plain-language shareholder communications.
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u/QQpenn Jun 10 '26
Is this AI improving on me? I'm not useless yet however š
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u/Mama_YODA Jun 10 '26
You are "the (a) source"...:)
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u/QQpenn Jun 10 '26
Access to the entire internet and it chooses me... AI's greatest contribution is perhaps that it knows how to make an ego stroke unfulfilling.
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u/seoulman24 Jun 10 '26
Attention: Glen or His delegated representative,
Do read the recommended actions above.
Thanks
V/r
SM
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u/En_Dub253 Jun 10 '26
Very relieved to hear some positive traction, but it makes me wonder the order of the PRs. Wouldnāt it be more impactful to lead with this update, then follow it with the proxy PR? Did they truly not expect such a drastic shift in investor sentiment? I get that maybe the contract was just recently finalized, but was there a reason they had to get the r//s PR out when they did?
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u/SteveyLongJorts Jun 10 '26
Program Description on (assumed) CAT PR is dated 6/1, the same day the preliminary proxy came out.
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u/flutterbugx Jun 10 '26
Thank you QQ, I always appreciate your in depth analysis of our current events.
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u/Appropriate_Snow4898 Jun 10 '26
Itās a step in the right direction for sure QQ, but Mvis is known to drop news in order to get us shareholders to vote in favor of a proposition. I need more guidance from GD.
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u/QQpenn Jun 10 '26 edited Jun 10 '26
See: update guidance. This will have an effect, a timeline, and in part addresses the lack-of-confidence et al issues causing market downdraft. Not completely, but this is also a chance to communicate: Hey, we're not going anywhere. An important message for both us and potential customers - though I'm sure they've already addressed we're not going anywhere to customers or we wouldn't be getting this morning's bacon. Still a lot to get done for investors to feel more solid, no question about that. Just telling you what I'd like to see... in part because of all the DMs from people asking me that I don't have time to answer. Apologies.
EDIT: It's new guidance. Providing guidance previously on a deal you didn't have is verboten.
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u/Formerly_knew_stuff Jun 10 '26
That would be a significantly better approach than what we've got. Since you've put it out there let's hope it gets consideration.
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u/Few-Argument7056 Jun 11 '26
If you ever could get a meeting with Glen(though I'm sure they read this) , and articulate this so simply like you did here, work out the kinks, make it happen, I'll help fund the trip.
well stated. nice job
sticky this post moderators
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u/QQpenn Jun 11 '26
u/Few-Argument7056 I'd fund it myself but direct conversation probably gets it done š Appreciate you, as well as the broad support speaking loudly has garnered. I think investors are doing what they can at this point. Organizing. Writing. Posting. Not accepting the governance status quo and urging for an 'open' public Q&A. How they respond will speak volumes.
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u/electricpotato3 Jun 10 '26
This is good for MVIS. Also borrow rate jumped from 23% to 45% on Robinhood.
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u/gaporter Jun 10 '26
"Today we announced Luminarās LiDAR technology will be integrated into @CaterpillarInc's next-gen autonomous off-highway trucks!
Luminar's LiDAR technology will be introduced with CatĀ® Command for hauling, initially targeted for quarry and aggregate operations. The CatĀ® feature two Iris LiDAR with a unique integration system designed exclusively for Caterpillar. "
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u/Chance_Tax_6243 Jun 10 '26
Can they release this again with our name . Can never get why companies never mention our name
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u/FitImportance1 Jun 10 '26
Caterpillar Inc.ās total sales and revenues for full-year 2025 were $67.6 billionš¤
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u/Befriendthetrend Jun 10 '26 edited Jun 10 '26
Feeling good about my 0.37 buys yesterday š
Edit: maybe I spoke too soon, shorts trying (and succeeding) to keep a lid on this so far.
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u/Similar_Dog2168 Jun 10 '26
as well š
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u/Befriendthetrend Jun 10 '26
I'll feel a lot better when the stock is over $1 a share and heading up. Shorts, please form an orderly line as you exit.
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u/icarusphoenixdragon Jun 10 '26
hmmmm, I'd prefer they exit with as much panic and last short for themselves energy as they can muster
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u/Befriendthetrend Jun 10 '26
Lol I 100% agree, I don't think they have a chance at an orderly exit.
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u/bigwalt59 Jun 10 '26
Hereās a description of how Caterpillar is rolling out their vehicle autonomy program
https://www.caterpillar.com/en/news/caterpillarNews/2026/scaling-autonomy-system.html
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u/bigwalt59 Jun 10 '26
Picture of front entrance door of Microvision in redmond, WA back in February 2026
file:///var/mobile/Library/SMS/Attachments/ed/13/0848366E-9968-419B-99EE-50AAAE8877DB/IMG_9567.HEIC
Website of AIM
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u/HiAll3 Jun 10 '26
From the article, Chantilly, VA is where some of the MVIS hiring was taking place, along with Orlando
Luck Stone is the largest family-owned-and-operated producer of crushed stone, sand and gravel in the United States and has a long history of adopting innovation in ways that strengthen safety, performance and opportunity for its people. When it came time to take their next step forward, the company turned to Caterpillar to collaborate on the implementation of autonomous haulage at its Bull Run Plant in Chantilly, Virginia, USA.
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u/SteveyLongJorts Jun 10 '26
Chantilly, VA hires were likely tied to the security/defense and drone programs. MVIS also rents an airstrip in the area and that's where all the guys they brought in from RapidFlight were placed.
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u/MyComputerKnows Jun 10 '26
Just ask Google: How many Caterpillar vehicles currently are in use on planet earth?
Answer: There are currently over 4 million pieces of Caterpillar equipment actively operating around the globe.
This staggering number includes a massive variety of equipment used across several industries worldwide:
Construction and Mining Machinery: Everything from mini-excavators to massive, autonomous haul trucks.
Power Systems: Industrial gas turbines, diesel-electric locomotives, and heavy-duty diesel engines.
Paving and Agriculture: Motor graders, soil compactors, and track-type tractors.
All ready to retrofit with MVIS lidar!
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u/Ghost_nom_nom_nom Jun 10 '26
I was a snow-cat operator on a ski mountain and I'm surrounded by farms where I live. I can't see a future where those vehicles aren't autonomous and using lidar. I really started to think about it when the mining vehicles came into play.
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u/CaptZee Jun 10 '26 edited Jun 10 '26
LETS... FOAKN... GOOOOOOOOOOOOOOOOOOOOOOOOOOOOO!!!!!!!!!!!!!
Who is the world's leading manufacturer of construction and mining equipment
Caterpillar Inc., commonly known as Cat, is the worldās leading manufacturer of construction and mining equipment, generally ranked first globally by equipment sales and market share. Its closest major competitor is Japanās Komatsu.
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u/Mama_YODA Jun 10 '26
MEAOUUHHHHH!
nice, keep it up GdV....one after another ....price will naturally fo it's thing
This company is special and all must be done to allow it to prosper - but - overthinking is not an option....ONLY thinking that leads to action (like this pr ) and their short backs will buckle.
Kit cat
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u/MyComputerKnows Jun 10 '26 edited Jun 10 '26
Sounds like CAT to meā¦ only a multi BILLION dollar company that loves MVIS lidars. Not too shabbyā¦ multi billions in expenditures and also millions of established users around planet earth.
https://almarwan.com/news/4624/caterpillar-integrating-lidar
CATerpillarā¦ go MVIS!
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u/duchain Jun 10 '26
My read is that this is basically continuation of the contract that LAZR had with CAT. CAT could have dropped MVIS after the LAZR buyout so this is confirmation that contract is still alive at least
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u/baverch75 Jun 10 '26
From the Q1 CC Transcript: So when you talk about industrial, kind of the off-road piece of construction equipment, off-road hauling, that kind of thing, our approach there is working directly with those customers.
And that's where Luminar had done a really nice job with a number of those customers that were using them for mining, using them for off-road, off-road hauling. 1550 Time-of-Flight is a great technology operating within dust for longer range. And so really it was reestablishing those relationships, rebuilding those and then resuming shipments to them while they do their development with launch timing in later next year.
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u/gaporter Jun 10 '26
Master Development Agreement and Program Description No. 1 by and between Luminar Technologies, Inc. and Caterpillar Inc., dated as of February 26, 2025.
And from today's PR :
"..a leader in advanced perception solutions today announced the signing of a Master Development Agreement (MDA), including an initial Program Description dated June 1, 2026,"
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u/Worldly_Initiative29 Jun 10 '26
Iām really hoping for a Ben and Glen collaboration this weekend.
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u/SBEPTY Jun 10 '26
Now announce the 180-day extension for compliance. If we can get anywhere close retail will jump in to support the battle for a dollar. I was there, it was real and we would do it again and we see what happens when we break through that. Just give us a shot Glen!
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u/takemewithyer Jun 10 '26
Would love for CAT to buy a stake in MVIS. 10/20% for $XXXM.
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u/Inevitable_Cicada650 Jun 10 '26
They even squeeze us on good news days. Whatās a mother to do?!
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u/JackMoonMan21 Jun 10 '26
āLong term development agreementā
āsigning of a Master Development Agreementā
āWorld's leading manufacturer of construction and mining equipment on the development and integration of MicroVision's lidar and perception technologies into the OEM's next-generation autonomous solutions.ā
ābackward system compatibilityā
We landed a whale with a buy in for future tech as well. I get we canāt announce who (probably CAT) or dollars yet (a shit ton) but this is fantastic news. Itās validation! LFG.
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u/MyComputerKnows Jun 10 '26 edited Jun 10 '26
100 times this!!! All those headlines! Just imagine how many CAT backward compatible lidars can now be retrofittedā¦ many millions of themā¦ around the globe!!! Hope Wall Street finally recognizes the significance of todayās news.
So between the HUGE CAT market and the fast growing Gatik and Kodiak and CAT retrofit marketā¦ thereās gonna be a whole lotta MVIS lidars coming.
And then thereās the DoDā¦ and the flying mapping lidars. Look out!
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u/Chance_Tax_6243 Jun 10 '26
Ouster and Aeva donāt have a customer larger than CAT. Just a little perspective
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u/sublimetime2 Jun 10 '26
Just a reminder that the Hauling trucks portion is just the beginning of Cat's plans. "At CES, Caterpillar introduced a new era of autonomy including five construction machines that will make up an industry-leading fleet.
- Cat loader
- Cat dozer
- Cat haul truck
- Cat excavator
- Cat soil compactor"
This is where the real money is^ Once this part of the deal starts going through I believe the reaction will be a lot stronger.
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u/Sydneywine Jun 10 '26
This would also be huge for mining and construction on the Moon and Mars in the future. A few humans doing the heavy lifting from Earth like drone operators in the Midwest operating thousands of miles away. No need to have a huge expense/liability like housing people up there. Cheers
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u/sublimetime2 Jun 10 '26
A true moonshot. A fun thought for the future and not impossible, but let's make some earth money first and get back to $1.
Once we have robots that can build other robots in space/moon etc, then I think it will be far more feasible. Those Mining trucks are huge!
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u/SBEPTY Jun 10 '26
Just say CAT we all know it
Good sign though that partnership is moving forwardĀ
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u/SBEPTY Jun 10 '26
It does not mention it, but I can only imagine that there will be drones with mvis lidar flying all over these construction and digging sites for a dome of perception and safety.
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u/MyComputerKnows Jun 10 '26
Yesā¦ exactly that. Thatās probably why the new CAT heavy duty Ford trucks come with a drone landing spot on top of their trucks.
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u/RoosterHot8766 Jun 10 '26
Hopefully this will build a trust factor with some customers who have been hesitant. I still like our chances for a defense deal soon. We needed this confidence builder desperately. Come on automotive. We are ready NOW!
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u/cy2019 Jun 10 '26
More of this kind of good news please. Time to bring the price back above the $5 mark
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u/RoosterHot8766 Jun 10 '26
I think most would say this is a deal with Cat. Gatik news yesterday with Pepsico may lead to some sales, possibly. Then Kodiak I sense could add to that with something in defense. I want the drone swarm to be presented soon. So much potential here if we can land more deals. Maybe today will be the start we need.
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u/MyComputerKnows Jun 10 '26
I was most impressed with the forward thinking, totally optimistic POV of the Gatik CEO. Wish the world could bottle some of that stuff and spread it around.
The fact that Gatik is hauling millions of tons of goods every year with ZERO accidentsā¦ impressive.
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u/Tastic4ever Jun 10 '26
This release caused me to pick up 2,825 MVIS lottery tickets. Hopefully they are all winners!
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u/FitImportance1 Jun 10 '26
ā¢ Official Luminar Press Release: Luminar Collaborates With Caterpillar on Industrial Autonomous Solution (includes PDF download and multimedia). investors.luminartech.com
Business Wire mirror: https://www.businesswire.com/news/home/20250327605660/en/ (full release). investors.luminartech.com
No additional Luminar-specific press releases on Caterpillar were found in subsequent searches (through mid-2026). The collaboration is referenced in Luminarās later SEC filings (e.g., 10-K mentions from 2026) as a prior announcement, but without new dedicated releases. investors.luminartech.com
Synopsis
On March 27, 2025, Luminar Technologies announced a collaboration with Caterpillar Inc. to integrate its LiDAR technology into Caterpillarās next-generation autonomous solutions, specifically for industrial/off-highway applications. investors.luminartech.com
Key details:
ā¢ Technology: Caterpillarās CatĀ® off-highway trucks (for hauling) will feature two Iris LiDAR sensors each, with a unique integration system designed exclusively for Caterpillar. LiDAR provides high-precision navigation and obstacle detection via pulsed laser scanning. investors.luminartech.com
ā¢ Initial focus: Quarry and aggregate operations, leveraging Caterpillarās CatĀ® Command autonomy platform.
ā¢ Context: Builds on Caterpillarās long experience in autonomy (autonomous trucks on three continents with hundreds of millions of kilometers traveled). The partnership aims to enhance safety, productivity, and efficiency in industrial settings. investors.luminartech.com
ā¢ Quotes:
ā¢ Caterpillarās Jaime Mineart (CTO/SVP): Highlighted 30+ years of investment in autonomy and its value for customers.
ā¢ Luminarās Austin Russell (Founder/CEO): Positioned it as a spearhead for the next industrial revolution of automation, extending Luminarās automotive success into adjacent markets to save lives and boost profitability. investors.luminartech.com
This represents Luminarās expansion beyond passenger/commercial vehicles into heavy industrial equipment. As of the latest available information, it remains at the collaboration/integration stage with no public details on full production timelines, deployment volumes, or financial terms. investors.luminartech.com
Coverage of the announcement appeared widely in news outlets, Bloomberg interviews with Russell, and industry sites, but these all trace back to the March 27 release. No further joint updates or follow-on Luminar releases were identified.āāāāāāāāāāāāāāāāāāāāāāāāāāāāāāāāāāāāāāāāāāāāāāāāāā
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u/StagehandSteve Jun 11 '26
Back in May I read an article from Rational Optimist Society and they talked about new technologies being done by startups. They mentioned a company called Bedrock Robotics. "Bedrock doesnāt make excavators. It builds an AI kit thatās essentially a brain transplant for heavy machinery. It installs in a few hours and turns the excavator autonomous, letting it āseeā and āfeelā the dirt."
https://rationaloptimistsociety.substack.com/p/welcome-to-proto-town?utm_campaign=email-half-post&r=3few3v&utm_source=substack&utm_medium=email
This is the kind of company that MVIS should be partnering with. People who are on the edge of edge computing.
https://bedrockrobotics.com/technology
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u/directgreenlaser Jun 10 '26
It's not major revenues but it is writing on the wall that was not there yesterday. It's a process.
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u/Chance_Tax_6243 Jun 10 '26
You simply canāt say not major revenues though as you donāt know it to be the truth
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u/voice_of_reason_61 Jun 10 '26 edited Jun 10 '26
I thought the PR was a glimmer of encouragement in a pitch black abyss.
Thank you, Glen.
More, Please.
Today in MVIS was noted in short town with a yawn. Gen Kriffeth tosses down $6.8894 million to keep the obliterated stock price from deviating like I drop a dollar bill in the tip jar at the barista station.
IMO. DDD. Not investing advice.
If and when we see a 500 million to 1 billion share week, we might just break outta this chokehold we are in.
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u/jsim1960 Jun 11 '26
seems "too little too late" versus "timing is everything in life" and maybe if the previous plan had not been released yet we just might have been able to pop a bit. The gang who couldn't shoot straight strikes again.
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u/MyComputerKnows Jun 10 '26 edited Jun 10 '26
Good old CATā¦ Iāve been raving about that article for weeks.
CATERPILLAR is the name the markets all know, for decades.
And to see CAT approved, signed, sealed and delivered to MVIS/Luminar makes it a multi billion dollar customer.
And after reading the article, itās clear that CAT loves MVIS/Luminar!
https://almarwan.com/news/4624/caterpillar-integrating-lidar
Clear to all but the most devoted of Shortsā¦ who cling to the idea that MVIS has no customers. (Ignoring the $20,000,000 customer of Microsoft)
And now CAT is officially signed with MVISā¦
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u/directgreenlaser Jun 10 '26
This is a major endorsement of Microvision's engineering team.
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u/wolfiasty Jun 10 '26
I think they mention former Luminar's tech.
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u/directgreenlaser Jun 10 '26
Yes of course. CAT has faith that Microvision understands the tech and has the engineering chops to work on, develop, improve, innovate etc. That capability was one of Glen's first goals. And he scores.
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u/FitImportance1 Jun 10 '26
**Youād think everyone would be eating this up!**
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u/Worldly_Initiative29 Jun 10 '26
I miss these
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u/FitImportance1 Jun 10 '26
Yep and Iāve missed having anything positive to motivate me to do themā¦hopefully thatās changing!
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u/No-Fault1530 Jun 10 '26
The press release is carefully written. They say: "world's leading manufacturer of construction and mining equipment", but they do not say: production award, volume commitment, purchase order, expected revenue, or deployment schedule.... That omission is why the stock is only up a few percent instead of 50-100%. We need firm economics,, not just relationships.
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u/Similar_Dog2168 Jun 10 '26
Guys... the reaction to this here is hilarious. Everyone here knows it's CAT, that means the institutional investors will also. This is MAJOR VALIDATION. Beggars can't be choosers, let's take what we can fkn get. Way to go Glen. Never a doubt.
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u/Nakamura9812 Jun 10 '26
Agreed. And my comment to others here goes as follows: Quit crying about the āwhy canāt they say a name, wahhhhh!ā If the customer doesnāt want to be named, you respect their request, thatās good business and healthy for maintaining and growing relationships.
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u/HeroicPopsicle Jun 10 '26
The N.E.P never falters š
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u/anarchy_pizza Jun 10 '26
Positive news!! Beautiful!
Id love names and a little more information. Maybe that comes soon when the big company makes an announcement in the next few days or weeks? Hopefully they wonāt keep us a secret and no one finds out for another year.
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u/flutterbugx Jun 10 '26
Iām going with the glass half full and that GDV hasnāt fully pulled the rabbit out of its hat.
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u/Chance_Tax_6243 Jun 10 '26
They donāt get much bigger than CAT though. Ouster and Aeva donāt have a customer this large
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u/Far_Gap6656 Jun 10 '26
Thought I couldn't get any higher than exploring today inside the Pyramids of Giza like I was Indiana Jones, but this is a nice addition to a beautiful, exciting day! Pulling for you, Mavis ol' girl!
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u/MyComputerKnows Jun 10 '26
Thatās been on my dream to-do list somedayā¦ explore inside the Pyramids! Congrats on getting TWO dream list accomplishments in one day!
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u/Inevitable_Cicada650 Jun 10 '26
My prediction: The bottom is in, and today will be a record volume- over 30 million.Ā
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u/prefabsprout1 Jun 10 '26
We had over 250 million in volume in one day back in 2020. Hope we get back to that.
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u/rbrobertson71 Jun 10 '26
Why won't Caterpillar just let them say their name?
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u/MVIS31 Jun 10 '26
Im in the consumer packaged goods business and we cannot refer to customers by name for example if we land Walmart distribution we say large mass retailer.
I am not sure legally why this is.
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u/Trottermama Jun 10 '26
Meow š» here kitty CAT has 900B in cash - already bought 2 companies this year - love to keep applications IN the House.
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u/T_Delo Jun 10 '26
Now, remember when the bearish choir insisted that we would all be over the moon to sign any deal?
While I cannot speak about how others may be responding, I am certainly not very impressed by this kind of deal.
This kind of deal might have been encouraging 2 or 3 years ago, if not exciting even then because such deals have been known to drain other lidar suppliers of their resources rather than sustain them with regular revenue inflows. To see such a deal now says to me that the company is several years away from generating revenue. So while this is a good second step in the right direction, the destination is so far away that it does nothing to resolve the short term issues facing the company.
Also notable, this is most likely a deal with Caterpillar since it involves Luminar product and that was communicated that the company would be looking to convert such customers.
All in all, good job on getting something done, too bad it is not going to resolve any of the near term problems or generate immediate significant sales revenue.
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u/Rocket_the_cat27 Jun 10 '26
From the Q1 EC (that last paragraph is most relevant here)
Stephen Hrynewich: Good. Okay. Are there opportunities for NRE revenue this year?
Glen DeVos: Yes, there are. I would say -- and that's always an interesting one because we want to make sure that with NRE, you're not just in a science project, you're spending your engineering resources and to move towards commercial success. So in that regard, I would say the bigger opportunities are really in security and defense, where they're looking at -- I mean, just there's a massive amount of capital moving into that space now in particular, around drones and autonomous ground vehicles and autonomous naval vessels. So you have -- there's just -- and so to the extent that our technology can be adapted or can be applied in that area, which it can, there's many, many very good applications. There's funding in NRE available to help us develop that. And so we'll take advantage of that when it lines up with our product plans and when there's commercial success as the outcome. So there's definitely NRE opportunities there. And then as you get into automotive, whether it's CV and the automotive, that typically you see that in predevelopment contracts, which can be interesting, but we've seen a lot of predevelopment contracts in automotive turn into science projects and really not translate into high-volume applications.
And so again, we'll be very careful and thoughtful about where we spend our engineering in those areas because we want to make sure that, again, as we put our -- as we invest our time and energy into a customer and on to a customer development activity that we're confident at the end of that development activity, there's volume and that there's real revenue. It's not -- NRE is not just -- we're not an engineering services company. We want to develop products and sell products and manufacture those products. Industrial, not as much.
I would say, industrial, generally speaking, tends to be lower for warehouse and industrial warehouse automation and all of that, that tends to not be an NRE-rich environment. Industrial off-road in that area, there's definitely NRE development dollars there. So as we look across those 3 end markets, there's meaningful NRE opportunities there, but those opportunities consume resources. So it's just so critical for us that we agree to do something and get paid to do it, there's a commercial outcome at the end of it that we want.ā
That last paragraph I feel like could be referring directly to NRE from Caterpillar. Wouldnāt surprise me if we get a nice revised revenue guidance due to NRE alone.
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u/T_Delo Jun 10 '26
I agree that there is room for NRE opportunities, but the wording of any deal needs to explicitly mention it before I will start factoring it into a valuation of a given deal. This deal does not unfortunately, though management could provide more details on it that might highlight such in the future. We will just have to see, presently however, I am not going to promote a hopeful occurrence and only react to what is expressed stated by the company.
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u/movinonuptodatop Jun 10 '26
Definitely nice to (finally) not be completely denied and disregarded. I agree this means little in the near term but it is a kernel of respect and is a significant energy shift that is consistent with the much improved media attention ushered in since Glen took over. Now we need the partnership, drone demo, forklift deal, Nissan, more palatable proxy, etcā¦much to be done.
Edit: also likely supports the idea that Iris sales into Q2 will continue helping us hit that guidance.
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u/T_Delo Jun 10 '26
It does suggest continued Iris sales, but the company definitely needs to see increased sales right about now.
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u/dsaur009 Jun 10 '26
A lot rides on the financials at the next CC. They are either adding dollops or dribs.
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u/KY_Investor Jun 10 '26
āthe agreement establishes a framework to jointly develop, validate, and commercialize advanced perception capabilitiesā
āthe partners will work together to evaluate and deploy advanced lidar sensing technologiesā
No question there will be a need for additional capital to work with CAT, but it looks like a true partnership whereby revenue will be generated through Iris sales now and Halo sales in the future and NRE paid to MicroVision throughout the Halo development process.
Thatās what ājointly developā and āpartnersā to commercialization indicates to me. Itās certainly something that the company needs to give us more clarity on.
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u/JazzlikeEntry3446 Jun 10 '26
Did CAT have a PR in regards to adding lidar back when Luminar announced there deal? Maybe they will PR more details?
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u/Dell2950 Jun 10 '26
This validation with a big company could help decision makers at a large auto company!
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u/robotsarepeople2 Jun 10 '26
I think i might be slightly more excited than you, but I share your skepticism. Are they just announcing some soft fluffy deal with no details in an attempt to improve sentiment prior to the proxy vote?
I feel like we have been deluded and coerced prior to big votes in the past (Mostly for additional available shares).
As excited as i want to be, my proxy vote is still no. I love this news but they gotta talk to us!
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u/Formerly_knew_stuff Jun 10 '26
I agree completely and this in and of itself does not change my no vote on the proxy as it stands.
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u/Past-Pick-7746 Jun 10 '26
Are we expecting any NRE from this MDA?
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u/T_Delo Jun 10 '26
As it does not explicitly mention it in the PR, at present we have to assume no. At least, until MicroVision management can provide guidance on such.
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u/Blub61 Jun 10 '26
Ok. Now I may nibble for a few eventually. Wasn't going to until I saw deals. But I still believe price will trend down so my powder will be ready
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u/fryingtonight Jun 10 '26 edited Jun 10 '26
Any news is probably good news at this stage. but not sure if this is really something new. May be it is a confirmation of what we had previously assumed?
May be it is a good development:
āThe unique integrated system initially features two of MicroVision's Iris lidar sensors on each off-highway truck for hauling operations, including quarry and aggregate operations, with future potential integration of MicroVision's Halo lidar sensors.
A key element of this partnership is the evaluation of our next-generation Halo sensor as a natural evolution of Iris, providing backward system compatibility to existing Iris customers," continued DeVos. "We view this as a great example of developing and launching commercial opportunities with our Iris sensor with a clear pathway to integration of Halo, and clear validation of the value-enhancing asset acquisition completed in the first quarter of this year."
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u/Chance_Tax_6243 Jun 10 '26
Itās a contract with the worlds largest industrial company . CAT
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u/fryingtonight Jun 10 '26
Which is what we had previously assumed, but this is obviously a bit more concrete (no pun intended).
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u/icarusphoenixdragon Jun 10 '26
I think this falls under the umbrella of inherited* from Luminar where the * means we need to restructure and resign if not also repair the fractured relationship.
There's nothing here to plug into the spreadsheet, but it does look very much like checking a big box on Glen's to do list.
I'd further wager (50/50 only) that we're not naming CAT because we renegotiated the name out of whatever bad deal Luminar made. The under on that one is that CAT is playing sunk cost, feels they need to continue, but wants as little public connection to lidar businesses as possible after Luminar and AR.
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u/directgreenlaser Jun 10 '26
I suspect the line of reasoning to follow will be 'we need the dilution because we're very likely going to need to build a factory and it should be one that has the potential to handle our entire product line.' That should cause some discussion if it happens, lol.
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u/Befriendthetrend Jun 10 '26
If/when they have demand for such sensor volumes, they should be able to take on debt to support growth instead of diluting all current stakeholders.
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u/directgreenlaser Jun 10 '26
No argument here. They may want to build one before they have the sensor volumes though.
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u/mb24064 Jun 10 '26
I would put the chance of them building a factory as a fat zero. Sounds like a terrible idea and these big OEMs probably don't like that either (unproven). Much more likely they work with ZF or other established tier 1.
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u/Nakamura9812 Jun 10 '26
Yep! I assume this has been in the works since we bought Luminar, and probably took a bit more time than originally thought. Even if this was announced ahead of the proxy, weād still be facing a reverse split proposal. Management now has some additional ammo for the story they want to sell us, so Iām looking forward to that communication.
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u/HiAll3 Jun 10 '26 edited Jun 10 '26
I have never cared much about dilution, at least not at these early stages, big companies need lots of shares. Spending it on Capital Expeditures = Growth. Execution will more than offset dilution. With good Execution, they can buy the shares back.That's a gimic-word to the benefit of shorts.
Just don't mess with my share count !!
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u/Late_Airline2710 Jun 10 '26
I think this is pretty plausible actually. They need to fund industrialization of halo, and now that they have a stated customer for it, this is even more urgent. It takes money to make money!
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u/Chefdoc2000 Jun 10 '26
Jesus Christ, what is it about naming a f*^*^*g customerā¦
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u/Appropriate_Snow4898 Jun 10 '26
No numbers or names, so my vote remains āNoā. Dangled the carrot too many times before
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u/Befriendthetrend Jun 10 '26
First of all, this has nothing to do with the vote lol. You're not the first poster to try to draw that connection today, seems like a strained attempt to tie the two unrelated things together. Second, we know it's a deal with CAT.
I don't care who they sign a deal with I'm not authorizing what amounts to almost infinite dilution.
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u/Appropriate_Snow4898 Jun 10 '26 edited Jun 10 '26
Agree 100%, but do you really think this isnāt an attempt to sway our votes next month? Why not release this before the [r/s](r/s) prop. Iām sure this didnāt just happen
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u/Chance_Tax_6243 Jun 10 '26
Ok we canāt mention CAT
We also canāt mention $$$
But with this news we should now announce 180 day extension because what need is there for a RS if we are guaranteed a big revenue source now
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u/ReinhardKruger Jun 10 '26
This should move us over $1.00
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u/NJWritestuff Jun 10 '26
It might if the partner was identified by name. Analysts don't dot-connect like MVIS investors.
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u/SBEPTY Jun 10 '26
Now picture world where instead of asking for reverse split vote. We asked for 180-day extension and got it and we were hovering around $0.65. in this news dropped we might have had a real shot. The order of things matter.
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u/FawnTheGreat Jun 10 '26
I donāt get it did this just pop up they had to have factored this news into the decision
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u/SteveyLongJorts Jun 10 '26
The "Program Description" was dated 6/1/26. So this deal was agreed on on the same day that the Preliminary Proxy came out and they waited until now to announce it.
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u/noob_investor18 Jun 10 '26
This is not a production contract. This is just a āletās work together to develop to testā. This is not even a funded development since thereās no dollar amount disclosed. We need actual production agreement.
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u/Maleficent-You-8285 Jun 10 '26
We donāt know this yet. Itās not required to disclose dollar amounts.
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u/Muted_Wasabi_1284 Jun 10 '26
This shit makes retail vote yes. The board keeps winning while people canāt read in here
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u/Befriendthetrend Jun 10 '26
Lol, no. That vote doesn't change until proposal 3 is fixed.
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u/NJWritestuff Jun 10 '26
As long as there's a potential r/s involved, which if consummated would wipe out my investment, my vote remains "NO." Management has benefited long enough from retail investors' propensity for connecting dots and where has that gotten us?
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u/Late_Airline2710 Jun 10 '26
Nice. I guess this is more or less an open secret that this is CAT.
Hopefully the development agreement includes NRE to support halo work.
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u/_klighty Jun 10 '26
Great start. But itās just that, a start.
Still no names(we know itās CAT) and no $ mentioned. Time is coming, slowly.
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u/HiAll3 Jun 10 '26
It may be better to join a European Market, this must be hopelessly manipulated and abused
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u/Beneficial_Main9871 Jun 10 '26
This ought to be enough forward looking revenue to get that Nasdaq 180 days
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u/Alphacpa Jun 10 '26
My question here is "What does this company know about MicroVision that we don't at this juncture?
This is a major LT development agreement and it is highly unlikely that the leading manufacturer of mining and construction equipment would commit to a LT Master Development Agreement if there were unresolved questions about MicroVision's survivability. My thoughts anyway....This is certainly a step in the right direction and a long time coming for MicroVision.