What caused MVIS's Q3 2024 earnings to plummet?

MicroVision's Q3 2024 earnings were negatively impacted by a combination of factors:

1. **Delayed Sensor Deliveries**: The most significant factor contributing to the revenue shortfall was the delay in sensor deliveries by a key customer. This resulted in reported revenue of $0.2 million for Q3, which was significantly lower than the $1.0 million recorded in the same quarter of the previous year.
2. **Strategic Focus and Capital Commitment**: MicroVision has been strategically focused on engagements with global automotive OEMs and industrial companies, alongside a significant capital commitment to fuel future growth. While this focus is crucial for long-term growth, it has temporarily impacted short-term earnings as the company invests in research and development and incurs additional expenses.
3. **Operating Expenses**: The company incurred approximately $15 million in R&D and G&A expenses during the quarter, including $2.4 million in stock-based compensation and $1.4 million in depreciation and amortization. These expenses, coupled with lower revenue, contributed to the net loss.
4. **Cash Burn and Liquidity**: MicroVision has been actively managing its cash burn and liquidity, with a reported 25% reduction in cash used in operating activities quarter-over-quarter. The company's total liquidity stood at $234 million, including $81 million in cash and cash equivalents, which is a positive indicator despite the earnings shortfall.

In summary, MicroVision's Q3 2024 earnings were affected by delayed sensor deliveries, strategic focus on long-term growth, increased operating expenses, and the need to manage cash burn and liquidity. Despite these challenges, the company remains optimistic about its future prospects, particularly in the industrial and automotive sectors.