MicroVision Inc (MVIS) 2026 Q2 法說會逐字稿

Good afternoon and welcome to the MicroVision second-quarter 2026 financial and operating results conference call. (Operator Instructions) As a reminder, this event is being recorded.

下午好，歡迎參加 MicroVision 2026 年第二季財務與營運成果電話會議。(接線員指示) 提醒各位，本活動將進行錄音。

I would now like to turn the conference call over to Drew Markham. Please go ahead.

現在我想把電話會議交給 Drew Markham。請開始。

Thank you, Jenny. Good afternoon. I'm here today with our Chief Executive Officer, Glen DeVos; and our Interim Chief Financial Officer, Steve Hrynewich. Following their prepared remarks, we will open the call to questions.

謝謝你，Jenny。下午好。今天我與我們的執行長 Glen DeVos，以及臨時財務長 Steve Hrynewich 一同出席。在他們的事先準備發言之後，我們將開放提問。

Please note that some of the information you will hear in today's discussion will include forward-looking statements, including but not limited to, strategic plans and execution progress, expectations regarding customer engagement and product delivery, product applications and use cases, market opportunities, cash flow forecasts, liquidity, and financing activities, availability of funds and access to capital, expected near-term and future revenue, operating expenses, and cash usage, as well as statements containing words like believe, expect, plan, and other similar expressions. These statements are not guarantees of future performance. Actual results could differ materially from the future results implied or expressed in the forward-looking statements.

請注意，您在今天討論中聽到的部分資訊將包含前瞻性陳述，包括但不限於：策略計畫與執行進度、對客戶互動與產品交付的預期、產品應用與使用情境、市場機會、現金流預測、流動性與融資活動、資金可得性與資本取得、預期短期與未來營收、營運費用與現金使用情況，以及包含「相信」、「預期」、「計畫」及其他類似用語的陳述。這些陳述並非對未來績效的保證。實際結果可能與前瞻性陳述所暗示或表達的未來結果存在重大差異。

We encourage you to review our SEC filings, including our most recently filed Form 10-K and quarterly reports on Form 10-Q. These filings describe risk factors that could cause our actual results to differ materially from those implied or expressed in our forward-looking statements. All forward-looking statements are made as of the date of this call, and except as required by law, we undertake no obligation to update this information.

我們鼓勵您查閱我們向美國證券交易委員會（SEC）提交的文件，包括我們最近提交的 Form 10-K 以及 Form 10-Q 季度報告。這些文件描述了可能導致我們的實際結果與前瞻性陳述所暗示或表達者存在重大差異的風險因素。所有前瞻性陳述均以本次電話會議日期為準，除法律要求外，我們不承擔更新此資訊的任何義務。

In addition, we will present certain financial measures on this call that will be considered non-GAAP under the SEC's Regulation G. For reconciliations of each non-GAAP financial measure to the most directly comparable GAAP financial measure, as well as for all the financial data presented on this call, please refer to the information included in our press release and in our Form 8-K dated and submitted to the SEC today, both of which can be found on our corporate website at ir.microvision.com under the SEC Filings tab. This conference call will be available for audio replay on the Investor Relations section of our website at www.microvision.com.

此外，我們將在本次電話會議中呈現若干依 SEC《Regulation G》規定屬於非 GAAP 的財務衡量指標。關於各項非 GAAP 財務衡量指標與最直接可比的 GAAP 財務衡量指標之調節表，以及本次電話會議所呈現的所有財務資料，請參閱我們的新聞稿，以及我們今日已註明日期並提交 SEC 的 Form 8-K 中所載資訊；兩者皆可於我們公司網站 ir.microvision.com 的「SEC Filings」分頁中查閱。本次電話會議將於我們網站 www.microvision.com 的投資人關係（Investor Relations）專區提供音訊重播。

Now I would like to turn the call over to Glen DeVos, our Chief Executive Officer. Glen?

現在我想把電話會議交給我們的執行長 Glen DeVos。Glen？

Thank you, Drew, and good afternoon, everyone. Welcome to MicroVision's second-quarter 2026 earnings call. Earlier this year, we introduced LiDAR 2.0, the next chapter in MicroVision's evolution. It marked a deliberate shift from a hardware-first company improving our technology for automotive to a LiDAR-based perception company with solutions designed to offer value to customers across multiple industries and use cases. I want to share with you the tremendous progress we have made during the second quarter and how we have positioned MicroVision to now accelerate our revenue growth. This shift isn't a slogan, it's operational, and it's fundamentally changing how we work with customers, productize our offerings, and achieve meaningful commercial momentum. And most importantly, I want to share with you that it's working.

謝謝你，Drew，各位下午好。歡迎參加 MicroVision 2026 年第二季財報電話會議。今年稍早，我們推出了 LiDAR 2.0，這是 MicroVision 演進的下一篇章。這標誌著我們有意識地從以硬體為先、為汽車領域持續改良技術的公司，轉型為以 LiDAR 為基礎的感知（perception）公司，提供旨在為多個產業與使用情境的客戶創造價值的解決方案。我想與各位分享我們在第二季取得的重大進展，以及我們如何讓 MicroVision 具備加速營收成長的定位。這項轉變不是口號，而是營運層面的改變，並且從根本上改變了我們與客戶合作的方式、將產品商品化的方式，以及取得具實質意義的商業動能。最重要的是，我想與各位分享：這套做法正在奏效。

MicroVision today is more vertically integrated, aligned, and commercially active than at any point in our history. We are building traction simultaneously across our core markets in industrial, security and defense, and automotive, as well as adjacent markets like robotics and AI. This is driven by the breadth of our product portfolio and our design-to-cost engineering philosophy, and underpinned by our open software framework. Today's call will cover a number of areas. First, an update on our LiDAR 2.0 strategy and how it fuels our revenue forecast. Second, a walkthrough of our commercial momentum, delving into the announcements and customer milestones of the past quarter and providing more context on the launch of MicroVision Semiconductor. Third, our product portfolio and roadmap, sharing the status of our nearest term catalysts, the MOVIA Air and MOVIA Air Plus launch, and the MOVIA S industrial launch.

今日的 MicroVision 在垂直整合程度、組織一致性與商業活動力方面，皆達到公司史上最高水準。我們同時在工業、安全與國防、以及汽車等核心市場建立動能，也在機器人與 AI 等鄰近市場拓展。這得益於我們產品組合的廣度與以設計達成成本目標（design-to-cost）的工程理念，並以我們的開放式軟體框架作為支撐。今天的電話會議將涵蓋多個面向。第一，更新我們的 LiDAR 2.0 策略，以及它如何推動我們的營收預測。第二，帶各位檢視我們的商業動能，深入說明上一季的公告與客戶里程碑，並就 MicroVision Semiconductor 的推出提供更多背景。第三，介紹我們的產品組合與路線圖，分享近期催化劑的最新狀態，包括 MOVIA Air 與 MOVIA Air Plus 的上市，以及 MOVIA S 工業產品的上市。

Fourth, the strong leadership additions we've made this quarter to deepen our bench, and then a bit about our financing strategy before diving into our financials. Let's get into it. I'll start with LiDAR 2.0 and where we are with that strategy. LiDAR 2.0 encapsulates what we believe it takes to win in this market. Across a diversity of industries, the right performance at the right price, using software-enabled perception to lower system costs, and support for multiple verticals with our industry-leading portfolio. All delivered with the operational discipline that customer requires from long-term suppliers. One of the strongest validation points for MicroVision's execution this year has been how quickly the company stabilized and commercialized the acquired Luminar business. When MicroVision acquired Luminar's LiDAR business, it inherited far more than the IRIS and HALO product lines. The acquisition included inventory, engineering talent, customer contracts, and active commercial programs.

第四，本季我們新增了強而有力的領導人才以充實團隊，接著在深入財務數字之前，簡要談談我們的融資策略。我們開始吧。我先從 LiDAR 2.0 以及我們在該策略上的進展談起。LiDAR 2.0 概括了我們認為在此市場勝出的關鍵要素。在多元產業中，以合適的價格提供適當的效能，運用軟體賦能的感知能力降低系統成本，並以我們業界領先的產品組合支援多個垂直領域。同時以客戶對長期供應商所要求的營運紀律來交付。今年 MicroVision 執行力最有力的驗證之一，是公司能以多快的速度穩定並商業化所收購的 Luminar 業務。當 MicroVision 收購 Luminar 的 LiDAR 業務時，我們承接的不僅是 IRIS 與 HALO 產品線。此次收購還包含庫存、工程人才、客戶合約，以及正在進行的商業專案。

The real challenge was ensuring those customers continued receiving products and support without disruption. Within roughly one quarter of closing that acquisition, we had successfully integrated the Luminar engineering teams, consolidated manufacturing operations to improve efficiency, resume shipping existing IRIS inventory, maintain customer relationships while pursuing new opportunities, and reduce operating expenses through streamlined operations. This has been a significant operational achievement. Perhaps the biggest accomplishment is that existing IRIS customers could continue to be served with our broader product portfolio. Rather than forcing customers through a redesign or platform migration, MicroVision preserved their investment while expanding the future roadmap. Instead of being a standalone product, IRIS now sits with our broader perception platforms, MOVIA for short range, IRIS for long range applications, HALO is the next generation evolution of long-range sensing, FMCW technology from Scantinel, and perception software across the entire portfolio.

真正的挑戰在於，確保這些客戶能在不中斷的情況下持續收到產品與支援。在完成該收購後約一個季度內，我們已成功整合 Luminar 的工程團隊、整併製造營運以提升效率、恢復出貨既有的 IRIS 庫存、在追求新機會的同時維持客戶關係，並透過精簡營運降低營運費用。這是一項重大的營運成就。或許最大的成果是，既有的 IRIS 客戶如今能持續獲得服務，並可使用我們更廣泛的產品組合。MicroVision 並未迫使客戶進行重新設計或平台遷移，而是在擴展未來路線圖的同時，保留了客戶既有投資。IRIS 不再是單一獨立產品，而是與我們更完整的感知平台共同構成：MOVIA 用於短距離、IRIS 用於長距離應用、HALO 是長距離感測的下一代演進、來自 Scantinel 的 FMCW 技術，以及覆蓋整個產品組合的感知軟體。

This allows MicroVision to deliver the best sensor for each application instead of trying to fit every customer into a single product or technology. This diversified portfolio is now a key strength and a significant differentiator for MicroVision. This is why we have confidence in our revenue guide for the current year with significant growth expected in 2027, building on a solid recurring revenue foundation. We continue to see expanding customer engagements across all products and end markets with a significant increase in near-term booking opportunities. As I stated earlier, the efforts in Q1 and Q2 are delivering on MicroVision's revenue growth plans. Let's talk about momentum building and the recent announcements.

這使 MicroVision 能針對每一種應用提供最佳感測器，而不是試圖讓每位客戶都套用單一產品或技術。這個多元化的產品組合如今已成為 MicroVision 的關鍵優勢與重要差異化因素。因此，我們對本年度的營收指引充滿信心，並預期 2027 年將有顯著成長，建立在穩健的經常性營收基礎之上。我們持續看到在所有產品與終端市場的客戶互動不斷擴大，且短期訂單（booking）機會顯著增加。如我先前所述，第一季與第二季的努力正在推動 MicroVision 的營收成長計畫落地。接下來談談動能的累積以及近期的公告。

Turning to our recent commercial momentum, we are making great progress, as I stated. We continue to be successful in converting Luminar customer accounts into MicroVision development agreements and purchase orders. This is exactly what we planned for with the Luminar acquisition. Additionally, we see strong increase in increased customer engagements with MOVIA S as we prepare for our October launch. Let me share some examples.

談到我們近期的商業動能，正如我所說，我們正在取得重大進展。我們持續成功地將 Luminar 的客戶帳戶轉換為 MicroVision 的開發協議與採購訂單。這正是我們在收購 Luminar 時所規劃要達成的。此外，隨著我們為 10 月上市做準備，我們看到 MOVIA S 的客戶互動顯著增加。我分享幾個例子。

On April 14th, we launched our global partner and reseller program, establishing reseller integrator relationships across Japan, North America, Europe, Korea, and Singapore, targeting industrial, defense, and mobility customers. That includes a partnership with one of Japan's largest, most established technology resellers, covering automotive, heavy industry, mining, agriculture, rail safety, and marine and offshore use cases. On June 10th, we signed a launching development agreement with a leading construction and mining equipment OEM to integrate two IRIS Lidar sensors per off-highway truck into their next generation autonomous hauling solution, with future potential to add HALO to that platform as well.

4 月 14 日，我們啟動全球合作夥伴與經銷商計畫，在日本、北美、歐洲、韓國與新加坡建立經銷商整合商關係，鎖定工業、國防與移動領域客戶。其中包括與日本規模最大、最具歷史的科技經銷商之一建立合作，涵蓋汽車、重工業、採礦、農業、鐵道安全，以及海事與離岸等使用情境。6 月 10 日，我們與一家領先的建築與採礦設備 OEM 簽署啟動開發協議，將每輛非公路卡車整合兩顆 IRIS LiDAR 感測器至其下一代自動化運輸解決方案中，未來也有潛力將 HALO 納入該平台。

On June 13th, we delivered IRIS sensor shipments to Lake Fusion Technologies as they and Timberline Aerospace expand their collaboration on situational awareness solutions. On June 29th, we delivered MOVIA sensors to a leading AI company and hyperscaler for evaluation across robotics, autonomous systems, and next generation AI applications. A strong proof point that our diversification beyond automotive is real, not just aspirational.

6 月 13 日，隨著 Lake Fusion Technologies 與 Timberline Aerospace 擴大其在態勢感知解決方案上的合作，我們向 Lake Fusion Technologies 交付了 IRIS 感測器出貨。6 月 29 日，我們向一家領先的 AI 公司與超大規模雲端服務商（hyperscaler）交付 MOVIA 感測器，供其在機器人、自主系統與下一代 AI 應用上進行評估。這是有力的佐證，證明我們向汽車以外領域的多元化是真實的，而不只是願景。

On July 1st, we appointed IDI Laser as our premier partner for industrial, defense, and security markets across Southeast Asia, extending our reseller footprint beyond the initial five country base we had announced in April. On July 6th, we engaged with J.A. Green & Company to accelerate our U.S. defense market strategy and strategic partnerships, a deliberate investment in the defense and security channel specifically. On July 14th, we formalized MicroVision Semiconductor, Inc.

7 月 1 日，我們任命 IDI Laser 為我們在東南亞工業、國防與安全市場的首要合作夥伴，將我們的經銷版圖擴展至 4 月宣布的五國基礎之外。7 月 6 日，我們與 J.A. Green & Company 合作，以加速我們的美國國防市場策略與策略夥伴關係，這是對國防與安全通路的刻意投資。7 月 14 日，我們正式成立 MicroVision Semiconductor, Inc.。

It's another key unlock in this strategy. MicroVision Semiconductor, which we introduced to market last month and which I'll cover in more detail in a moment, is owning that custom ASIC and mixed signal design. It brings it in-house rather than outsourcing it, and it's how we protect both the cost curve and the integration advantage that Lidar 2.0 depends on. On July 15th, James Vian joined us as MicroVision's first Chief Commercial Officer, which I'll also cover in more detail shortly. In another example of the acceleration of our traction, just last week, we received an order from a prime contractor supplying autonomous UGVs, or unmanned ground vehicles, to the military, highlighting the importance of IRIS' 1550 nanometer technology, which is invisible to night vision goggles, as the customer phases out the use of 905 nanometer sensors.

這是此策略的另一個關鍵解鎖點。MicroVision Semiconductor 是我們上個月向市場推出的，我稍後會更詳細說明；它將擁有該客製化 ASIC 與混合訊號設計。這代表把能力內製，而非外包，並且是我們保護成本曲線與 LiDAR 2.0 所依賴之整合優勢的方式。7 月 15 日，James Vian 加入我們，成為 MicroVision 首任首席商務長（Chief Commercial Officer），我也會在稍後更詳細說明。再舉一個我們動能加速的例子：就在上週，我們收到一家主承包商的訂單，該承包商向軍方供應自主 UGV（無人地面載具），凸顯 IRIS 的 1550 奈米技術的重要性；該波長對夜視鏡不可見，而客戶正逐步淘汰 905 奈米感測器。

We also received an order for IRIS sensors from a key defense and aerospace contractor for use in unmanned aircraft applications. Earlier this week, we unveiled MOVIA Air and MOVIA Air Plus. Autonomous aerial systems represent one of the fastest growing opportunities for perception technology. As drones evolve from remote controlled platforms to fully autonomous systems, they need more than imagery. They need the ability to understand and react to the world around them in real time. This is exactly what MOVIA Air delivers with its ability to combine LiDAR and camera sensing to build and transmit high definition 3D maps in real time to UGVs, command centers, or to other airborne assets. More importantly, it demonstrates the scalability of our business model. The same core technologies we've developed for automotive and industrial applications can now be deployed across aerospace, defense, logistics, and security.

我們也收到一家關鍵國防與航太承包商的 IRIS 感測器訂單，用於無人航空器應用。本週稍早，我們發布了 MOVIA Air 與 MOVIA Air Plus。自主空中系統是感知技術成長最快的機會之一。隨著無人機從遙控平台演進為全自主系統，它們需要的不僅是影像。它們需要能即時理解並回應周遭世界的能力。這正是 MOVIA Air 所提供的：它能結合 LiDAR 與相機感測，在即時建立並傳輸高解析度 3D 地圖至 UGV、指揮中心或其他空中資產。更重要的是，它展現了我們商業模式的可擴展性。我們為汽車與工業應用所開發的相同核心技術，如今也能部署到航太、國防、物流與安全等領域。

Every new vertical expands our opportunity to monetize the investments we've already made in our LiDAR and perception platform. MOVIA Air is more than just a new product launch. It is another proof point that our technology platform scales across industries, applications, and autonomy use cases, and that's exactly what our Lidar 2.0 strategy is designed to achieve. We're also encouraged by the early market response. Before the official launch, we've delivered units and are in active development with a major industrial drone delivery company and a provider of advanced resource exploration. The MOVIA Air family is being evaluated by an additional nine pre-launch partners across industrial, defense, and autonomous aerial applications. These programs reinforce what we've been hearing from customers, that the market is increasingly looking beyond just simply raw sensor performance and towards complete perception solutions that can enable real-time decision-making in demanding environments.

每新增一個垂直領域，都擴大了我們將既有在 LiDAR 與感知平台上的投資變現的機會。MOVIA Air 不僅僅是一項新產品上市。它再次證明我們的技術平台可跨產業、跨應用與跨自主化使用情境擴展，而這正是我們 LiDAR 2.0 策略所要達成的。我們也受到早期市場回饋的鼓舞。在正式上市前，我們已交付產品，並與一家大型工業無人機配送公司及一家先進資源探勘供應商進行積極開發。MOVIA Air 系列也正由另外九家上市前合作夥伴評估，涵蓋工業、國防與自主空中應用。這些專案強化了我們從客戶端聽到的訊息：市場正愈來愈不只看重單純的原始感測器性能，而是轉向能在嚴苛環境中支援即時決策的完整感知解決方案。

Next week, we'll publicly demonstrate MOVIA Air Plus at JIFX, that's the Joint Interagency Field Experimentation run by the Naval Postgraduate School. This is where the Navy tests new defense and security technologies. Customers will see live perception and autonomous navigation capabilities, obstacle avoidance in real time, 3D mapping, operating in realistic field conditions. We're incredibly excited about this and happy to be working with some outstanding partners in making that happen. We also plan to host our third product webinar later in August to provide our customers and partners with a deeper technical look at the platform and discuss how we're extending our perception capabilities into the rapidly growing aerial autonomy market. Here's what I want you to take away. We now have simultaneous traction across industrial, off-highway, defense and security, drone and helicopter, robotics and AI, and automotive.

下週，我們將在 JIFX 公開展示 MOVIA Air Plus；JIFX 是由美國海軍研究生院（Naval Postgraduate School）主辦的跨機構聯合野外實驗。這是海軍測試新國防與安全技術的場域。客戶將看到即時的感知與自主導航能力、即時避障、3D 建圖，以及在逼真的野外條件下運作。我們對此感到非常振奮，也很高興能與一些傑出的合作夥伴共同促成。我們也計畫在 8 月稍晚舉辦第三場產品網路研討會，為客戶與合作夥伴提供更深入的技術視角，並討論我們如何將感知能力延伸至快速成長的空中自主市場。以下是我希望你們帶走的重點。我們目前在工業、非公路、國防與安全、無人機與直升機、機器人與 AI，以及汽車等領域同時取得進展。

That breadth is what de-risks this story relative to a single end market bet. If one vertical sales cycle slips, we are not dependent or affected by that. Just as importantly, we're seeing repeat orders and expanded scope with existing customers. That's the more durable signal. Anyone can announce a pilot or pre-development activities. What matters is whether that pilot turns into a second order and a bigger one or a long-term supply agreement. Some of you have questions about why we can't name customer wins, and I would just reiterate my previous comments. When we're able to announce the customer name, we will. When they request that we do not for purposes of confidentiality or competition, we always respect that and name the industry or category only. Let me talk briefly about product portfolio and roadmap.

這樣的廣度，相較於只押注單一終端市場，能降低整體風險。若某一垂直領域的銷售週期延後，我們不會因此依賴或受到影響。同樣重要的是，我們看到既有客戶出現重複下單與擴大合作範圍。那才是更具持久性的訊號。任何人都可以宣布試點或前期開發活動。真正重要的是，該試點是否能轉化為第二筆訂單、規模更大的訂單，或長期供應協議。有些人問我們為何不能公布客戶勝利案例的客戶名稱，我只想重申我先前的評論。當我們能夠公布客戶名稱時，我們就會公布。當客戶基於保密或競爭因素要求我們不要公布時，我們一向尊重，僅說明其所屬產業或類別。接下來我簡要談談產品組合與路線圖。

Our industry-leading product portfolio encompassing short, long, and ultra-long-range coverage across multiple architectures and wavelengths approaches is the key to supporting multiple use cases across our end markets, industrial, defense, automotive, and beyond. Let me walk you through where we are with each product and where it stands, and how they fit together, and how they will continue to evolve over time. For short-range sensing, MOVIA L offers a power-efficient, solid-state design with sensing and perception running on board. It's easy to deploy, making MOVIA L ideal for use cases like warehouses, mining vehicles, and agriculture. In October, we will launch MOVIA S, our next generation short-range sensor platform. MOVIA S is smaller, more cost-effective, more energy-efficient, delivering high-performance perception in an ultra-compact design. We already have more than 25 active customer engagements and evaluations ongoing. To be clear, this is where customers have our samples.

我們業界領先的產品組合，涵蓋短距、長距與超長距範圍，並跨多種架構與波長方案，是支援我們終端市場（工業、國防、汽車及其他）多元使用情境的關鍵。我將帶各位了解每項產品目前的進度與定位、它們如何彼此搭配，以及它們將如何隨時間持續演進。在短距感測方面，MOVIA L 提供高能效的固態設計，並在裝置端執行感測與感知。它易於部署，使 MOVIA L 非常適合倉儲、礦用車輛與農業等使用情境。10 月我們將推出 MOVIA S，作為我們下一代短距感測器平台。MOVIA S 更小、更具成本效益、更節能，並以超緊湊設計提供高效能感知。我們目前已有超過 25 個活躍的客戶互動與評估正在進行。為了說清楚，這些是客戶已拿到我們樣品的案子。

We're in active quoting and, in some cases, doing development. MOVIA S will be a game changer for the industry, with applications across all segments as we see strong interest from the robotaxi, the industrial, and the defense OEMs. For long-range sensing, IRIS offers high-performance sensing engineered to enable advanced safety at high speeds up to 280 meters. IRIS is a robust and proven sensor that we're shipping to active commercial customers today in industrial, defense, and automotive. HALO represents MicroVision's next generation of long-range sensors. It will provide longer-range sensing with greater precision in a design that is roughly one-third the size of IRIS. Stated in another way, HALO is 68% smaller by volume than IRIS. Bringing this level of performance into such a compact form factor will unlock new use cases not possible today.

我們正在積極報價，並且在某些情況下進行開發。MOVIA S 將成為產業的遊戲規則改變者，應用可涵蓋所有細分領域；我們看到來自 robotaxi、工業與國防 OEM 的強勁興趣。在長距離感測方面，IRIS 提供高效能感測能力，專為在高達 280 公尺的高速情境下實現先進安全而設計。IRIS 是一款堅固且經驗證的感測器，我們目前已出貨給工業、國防與汽車領域的活躍商業客戶。HALO 代表 MicroVision 的下一代長距離感測器。它將在設計約為 IRIS 三分之一大小的前提下，提供更長距離且更高精度的感測。換句話說，HALO 的體積比 IRIS 小 68%。將這種等級的效能導入如此緊湊的外形尺寸，將解鎖目前無法實現的新使用情境。

This is really important, HALO's system design is fully compatible with IRIS, so existing IRIS customers can transition seamlessly to the next generation product without needing to go through a massive re-engineering or recertification or revalidation of their solution. It's truly a seamless transition. For aerial applications, MOVIA Air and MOVIA Air Plus are specially designed for drones and other lightweight use cases. MOVIA Air was developed to meet the strict criteria for size, weight, cost, and power required to make drone-based ISR missions viable. Finally, for ultra-long-range sensing of 500 to 1,500 meters, our FMCW lidar on chip solutions will provide advanced optical sensing that measures both distance and instantaneous velocity simultaneously.

這點非常重要：HALO 的系統設計與 IRIS 完全相容，因此既有 IRIS 客戶可無縫轉換至下一代產品，而無需進行大規模重新工程設計、重新認證或重新驗證其解決方案。這確實是一個無縫轉換。在空中應用方面，MOVIA Air 與 MOVIA Air Plus 專為無人機及其他輕量化使用情境而設計。MOVIA Air 的開發旨在滿足尺寸、重量、成本與功耗的嚴格標準，以使基於無人機的 ISR 任務具備可行性。最後，針對 500 至 1,500 公尺的超長距離感測，我們的晶片級 FMCW 光達解決方案將提供先進的光學感測，可同時量測距離與瞬時速度。

All of these sensors are underpinned by our open software framework, which enables our customers to fully use our advanced perception and software features and development tool chain in a seamless fashion with their development environment. While we are excited about our current products and upcoming launches MicroVision Semiconductor, Inc. and Scantinel now are preparing for our next generation of products where we leverage our in-house semiconductor and photonics capability to deliver lidar on a chip. We talked about how silicon up integration and chip-scale packaging are keys to further cost reduce lidar while increasing performance. This is exactly what Scantinel and MSI are developing for us with our next A-sample to be available by Q2 2027.

所有這些感測器都以我們的開放式軟體框架為基礎，使客戶能在其開發環境中，以無縫方式充分使用我們先進的感知與軟體功能，以及開發工具鏈。在我們對現有產品與即將推出的 MicroVision Semiconductor, Inc. 與 Scantinel 感到振奮之際，我們也正在為下一代產品做準備，屆時將運用我們內部的半導體與光子學能力，交付晶片級光達（lidar on a chip）。我們曾談到，矽光整合與晶片級封裝是進一步降低光達成本並提升效能的關鍵。這正是 Scantinel 與 MSI 正在為我們開發的內容，我們的下一個 A-sample 預計於 2027 年第二季提供。

We'll be showcasing more about Scantinel at IAA in Hannover next month. While that will focus on commercial vehicle and industrial markets, the underlying photonics technology has applications across multiple end markets, including high-speed data transmission serving global communication networks, cloud infrastructure, and data centers. These efforts demonstrate our continued expansion of the product portfolio to reflect a clear roadmap to sustained growth, with additional capabilities planned to address evolving customer needs across all of the end markets that we serve. I've talked about product portfolio. I also want to address the reverse stock split directly, along with our broader capital markets activity. It goes without saying that our Nasdaq listing is an important asset. It is vital that we maintain and protect the continued listing of our stock.

我們將在下個月於漢諾威舉行的 IAA 展會上展示更多關於 Scantinel 的內容。雖然該展示將聚焦於商用車與工業市場，但其底層光子技術可應用於多個終端市場，包括為全球通訊網路、雲端基礎設施與資料中心服務的高速資料傳輸。這些努力展現我們持續擴充產品組合，以反映一條清晰的、可持續成長的路線圖，並規劃新增能力以因應我們所服務之各終端市場不斷演進的客戶需求。我已談到產品組合。我也想直接談談反向股票分割（reverse stock split），以及我們更廣泛的資本市場活動。毋庸置疑，我們在納斯達克的上市地位是一項重要資產。維持並保護我們股票持續上市至關重要。

With our stock price now in a stronger position, delisting really no longer casting a shadow on our work, we can focus on continuing to intensify our engagement with customers and accelerate commercial momentum across our target markets. Our post-split stock price and the increase in authorized shares puts us in a much better position to ensure that our operations and business objectives are sufficiently financed. We have flexible options to address the company's capital requirements. The key point is we need the capital structure, financial capacity, and fiscal discipline that support our strategic plan and enable us to focus on delivering commercial wins. Finally, let me talk about the team. For Lidar 2.0, we've talked about the right product portfolio with the right price and with the right people to make our vision a reality.

隨著我們的股價目前處於更強勢的位置，退市風險已不再為我們的工作投下陰影，我們可以專注於持續加深與客戶的互動，並在目標市場加速商業動能。分割後的股價以及核准股份數的增加，使我們更有利於確保營運與業務目標獲得充足資金支持。我們有彈性的選項來滿足公司的資本需求。關鍵在於：我們需要能支撐策略計畫的資本結構、財務能力與財務紀律，並使我們能專注於取得商業勝利。最後，我想談談團隊。針對 Lidar 2.0，我們談過要有合適的產品組合、合適的價格，以及合適的人才，讓我們的願景成真。

Building out the commercial and technical leadership to match this strategy has been a priority. We made some key appointments this past quarter. On July 20th, James Bjorn joined us as MicroVision's chief commercial officer, a newly created role leading our global commercial organization. James brings more than 20 years of experience scaling commercial organizations in automotive, mobility, and technology, with previous roles as managing director of global business development at Aeva, as chief commercial officer at Innovusion, at Greystone as executive vice president and president of the global automotive group, and in the senior automotive relationship roles at Sirius XM. Having a dedicated commercial leader at this level who has successfully run similar playbook in prior roles reflects how seriously we're taking the commercially driven feature of Lidar 2.0. I'm also pleased to welcome Tara Claire as our new head of marketing and communications.

建立與此策略相匹配的商業與技術領導團隊一直是優先事項。我們在上一季度做出了一些關鍵任命。7 月 20 日，James Bjorn 加入我們，擔任 MicroVision 首席商務長（chief commercial officer），這是一個新設立的職位，負責領導我們的全球商業組織。James 擁有超過 20 年在汽車、移動出行與科技領域擴展商業組織的經驗，曾任 Aeva 全球業務發展董事總經理、Innovusion 首席商務長、Greystone 執行副總裁兼全球汽車事業群總裁，以及 Sirius XM 的資深汽車客戶關係職務。能在此層級配置一位專職商業領導者，且其在過往職務中成功執行過類似作戰手冊，反映我們對 Lidar 2.0 以商業驅動為核心特徵的重視。我也很高興歡迎 Tara Claire 擔任我們新的行銷與傳播主管。

Tara brings nearly two decades of experience leading marketing, communications, brand strategy across the automotive, technology, retail, manufacturing, and healthcare industries. At MicroVision, Tara will lead our integrated marketing communications strategy. Her experience helping organizations communicate through periods of growth and transformation will be instrumental as we sharpen the MicroVision narrative, bringing new products and capabilities to market. We communicate the continued evolution of our growth and business. I'm also very pleased to note that we are making very good progress on our CFO search and expect to provide an update very soon. In addition to these leadership appointments, during this quarter, we formed a dedicated semiconductor organization, MicroVision Semiconductor. We welcome this team, formerly known as Black Forest Engineering, which we acquired from Luminar.

Tara 擁有近 20 年領導行銷、傳播與品牌策略的經驗，涵蓋汽車、科技、零售、製造與醫療保健等產業。在 MicroVision，Tara 將領導我們的整合行銷傳播策略。她協助組織在成長與轉型期間進行溝通的經驗，將在我們強化 MicroVision 敘事、把新產品與新能力推向市場時發揮關鍵作用。我們將傳達我們成長與業務持續演進的進程。我也很高興指出，我們在 CFO 招聘方面進展非常順利，並預期很快提供最新消息。除上述領導任命外，本季度我們成立了專責的半導體組織 MicroVision Semiconductor。我們歡迎這支團隊——其前身為 Black Forest Engineering——我們已自 Luminar 收購。

The team brings more than 30 years of semiconductor expertise and track record over 300 custom mixed-signal IC designs across automotive, industrial, defense, aerospace, and scientific markets. It expands our capability into custom ASIC development, mixed-signal ICs, photonic sensing, and advanced imaging, including manufacturing relationships with foundry partners like Tower Semiconductor, TSMC, and X-FAB. MicroVision Semiconductor is the mechanism by which MicroVision now owns chip-level design rather than depending on outside suppliers for it. It is direct structural support for the cost of integration goals at the center of Lidar 2.0. This isn't just about supporting the MicroVision roadmap. The team is available for commercial engagement and customization for external customers as well and has a strong track record in delivering that. How should investors grade us this quarter?

該團隊擁有超過 30 年的半導體專業經驗，並在汽車、工業、國防、航太與科學市場累計完成超過 300 款客製化混合訊號 IC 設計。這使我們的能力擴展至客製化 ASIC 開發、混合訊號 IC、光子感測與先進成像，並包含與 Tower Semiconductor、TSMC 與 X-FAB 等晶圓代工夥伴的製造合作關係。MicroVision Semiconductor 讓 MicroVision 現在能擁有晶片層級設計能力，而非依賴外部供應商。這是對 Lidar 2.0 核心之整合成本目標的直接結構性支援。這不僅僅是為了支援 MicroVision 的路線圖。該團隊也可對外部客戶提供商業合作與客製化服務，並在交付方面有強勁的實績。投資人應該如何評量我們本季度的表現？

Before I hand it over to Steve, I want to be explicit about what we think you should hold us accountable to. Rather than leave that to interpretation, here's the list we're grading ourselves against. The first, commercial traction, growth in our customers and prospect pipeline. Beyond the 100 we cited across three verticals in our Q1 call, in conversation, in conversion and evaluation into repeat orders, and expanded scope with existing customers. Again, number one, commercial traction and growth. The second is the program build-out, participation in our reseller and partner programs, and geographic expansion beyond our initial footprint in Japan, North America, Europe, Korea, and Singapore. These programs are vitally important as they provide an outstanding channel for our products to reach a broad market.

在我把時間交給 Steve 之前，我想清楚說明我們認為你們應該以哪些事項來要求我們負責。與其讓這件事留給各自解讀，以下是我們用來自我評分的清單。第一，商業牽引力：我們客戶與潛在客戶管線的成長。除了我們在第一季電話會議中提到、橫跨三個垂直領域的 100 家之外，還包括對話推進、轉換與評估進入重複訂單，以及與既有客戶擴大合作範圍。再次強調，第一項是商業牽引力與成長。第二項是專案建置：參與我們的經銷商與合作夥伴計畫，以及在日本、北美、歐洲、韓國與新加坡等初始據點之外的地理擴張。這些計畫至關重要，因為它們為我們的產品觸達廣泛市場提供了極佳的通路。

The third is product execution, staying on track for introducing MOVIA to the market and for the MOVIA S industrial launch set for October 26th. These launches and these deliverables are key to making sure our products are right and meet the timing of the market. Cost and margin discipline. For example, raising our guidance to 40% to 45% for the year. This reflects the excellent work done by the team to manage our product cost and pricing and is a top focus for us. Balance sheet strength, stabilizing our compliance profile and strengthening market position, evaluated against the financing flexibility that I laid out earlier to ensure we have the capital resources and liquidity needed to support our strategic plan. Organizational build, proving that the addition of our new Chief Commercial Officer and MicroVision Semiconductor team show up in visible commercial and product outcomes, not just simply headcount.

第三項是產品執行，確保按計畫將 MOVIA 推向市場，並如期於 10 月 26 日進行 MOVIA S 工業版上市。這些上市與交付成果是確保我們的產品到位並符合市場時程的關鍵。成本與毛利率紀律。例如，將我們全年指引上調至 40% 至 45%。這反映了團隊在管理產品成本與定價方面所做的出色工作，也是我們的首要重點。資產負債表強度：穩定我們的合規狀況並強化市場地位，並依據我先前所說明的融資彈性進行評估，以確保我們具備支持策略計畫所需的資本資源與流動性。組織建置：證明新增的首席商務長以及 MicroVision 半導體團隊，能在可見的商業與產品成果上有所展現，而不只是單純增加人頭。

Finally, transparency. Sharing what we can with you as soon as we can so that you can be aware of how hard the team is working to demonstrate the progress against our vision and our outcomes. That's the scorecard, and I'd ask you to hold us to it.

最後是透明度。在我們能夠的範圍內、並以最快速度與各位分享，讓各位了解團隊為了展現相對於我們願景與成果的進展所付出的努力。這就是評分卡，我也希望各位以此來要求我們達成。

I'm now going to hand it over to Steve to share our second-quarter results and where our full-year guidance stands today.

接下來我將把時間交給 Steve，請他分享我們第二季的業績，以及我們目前的全年指引。

Thank you, Glen. As Glen just shared, we have made significant strides in the second quarter with substantial commercial momentum across our core markets, expansion of our product portfolio with a clear roadmap for sustained growth, increased bench strength with key leadership appointments, and with the completion of the one-for-15 reverse stock split, more flexible options to raise capital to support our operating needs. Our focus remains on strategic commercial execution and disciplined financial management of the company. Now, let me talk about our financial results. Revenue for the second quarter was $1.5 million, a $1.3 million increase versus the same period last year. The primary driver of our second quarter revenue was product sales, with a predominant portion accounted for by our long-range IRIS sensor and a smaller portion from our short-range MOVIA L sensor, and approximately 15% from engineering services related to our semiconductor business.

謝謝你，Glen。正如 Glen 剛才分享的，我們在第二季取得了顯著進展：在核心市場展現強勁的商業動能；透過清晰的路線圖擴充產品組合以支撐持續成長；透過關鍵領導職任命提升團隊戰力；並完成 1 比 15 的反向股票分割，使我們在籌措資金以支應營運需求方面擁有更具彈性的選項。我們的重點仍是策略性的商業執行，以及公司嚴謹的財務管理。接下來我談談我們的財務結果。第二季營收為 150 萬美元，較去年同期增加 130 萬美元。第二季營收的主要驅動因素為產品銷售，其中大部分來自我們的長距離 IRIS 感測器，較小部分來自短距離 MOVIA L 感測器，另約 15% 來自與我們半導體業務相關的工程服務。

Of our three target sectors, industrial and security and defense were the primary drivers of our second quarter revenue. For the first six months of this year, revenue totaled $2.4 million, a $1.7 million increase as compared with the first six months of 2025. Approximately 75% of our first half 2026 revenue was driven by the expansion of our product portfolio that resulted from our strategic acquisitions earlier this year. In addition, the majority of our first half revenue came from the industrial and security and defense sectors. These revenue drivers and sector allocations support our confidence that our Lidar 2.0 strategy and focus on diversification for multiple verticals remain the key to winning in this market and growing our top line.

在我們三個目標產業中，工業以及安全與國防是第二季營收的主要驅動來源。今年前六個月營收合計為 240 萬美元，較 2025 年前六個月增加 170 萬美元。約 75% 的 2026 年上半年營收，來自我們今年稍早策略性收購所帶動的產品組合擴張。此外，上半年營收的大部分也來自工業以及安全與國防領域。這些營收驅動因素與產業分布，支持我們對「Lidar 2.0」策略以及跨多個垂直領域多元化布局仍是贏得市場並推升營收成長關鍵的信心。

Turning to gross margin. Second quarter performance was 44%, a significant increase from a gross margin loss in the second quarter of last year. On a year-to-date basis, gross margin sits at 42%, as compared with a gross margin loss in the same period last year. The expansion of our gross margin reflects favorable product mix driven by sales from the IRIS inventory that we acquired in the first quarter this year and efficiencies within our supply chain.

接著談毛利率。第二季毛利率為 44%，相較去年第二季的毛利率為負有顯著提升。以年初至今來看，毛利率為 42%，相較去年同期的毛利率為負亦有改善。毛利率擴張反映了有利的產品組合：主要來自我們於今年第一季收購的 IRIS 庫存所帶動的銷售，以及供應鏈效率提升。

Turning to cash usage. Our cash used in operations plus capital expenditures was $19.5 million for the second quarter and $36 million for the first six months of this year. Adjusting out acquisition-related costs and restructuring charges, our cash usage was $17.4 million in the second quarter and $33.8 million for the first half of the year. Cash usage increased sequentially from the first quarter to the second quarter this year, in large part due to non-recurring cash payments related to the post-acquisition consolidation of our engineering and operations organizations, including a significant workforce reduction in our Redmond location.

接著談現金使用。第二季營運活動使用現金加上資本支出為 1,950 萬美元；今年前六個月為 3,600 萬美元。剔除收購相關成本與重整費用後，我們第二季現金使用為 1,740 萬美元；上半年為 3,380 萬美元。今年第二季相較第一季現金使用呈序列增加，主要原因是收購後整併工程與營運組織所產生的一次性現金支付，其中包括在 Redmond 據點進行的大幅裁員。

When compared sequentially to the prior year, after adjusting for acquisition-related costs and restructuring charges, cash usage for the second quarter increased $4.5 million and for the first half of the year increased by $6.7 million. The main contributors to these increases are the operating expenses and product development activities related to the acquisitions of our aerial systems team in the fourth quarter last year and Scantinel and Luminar Technologies in the first quarter this year.

與去年同期相比（並剔除收購相關成本與重整費用後），第二季現金使用增加 450 萬美元，上半年增加 670 萬美元。造成增加的主要因素，是與我們於去年第四季收購的航太系統團隊，以及今年第一季收購 Scantinel 與 Luminar Technologies 相關的營運費用與產品開發活動。

Having completed most of the integration of our recent acquisitions and actions to consolidate operations and teams by the end of the second quarter this year, coupled with anticipated second half 2026 revenue growth, we expect to see a declining cash burn from operations through the remainder of this year. At the end of the quarter, our balance sheet reflected $27.2 million in cash equivalents, and investment securities. In addition, we have access to approximately $41.2 million available under the current ATM facility, subject to market conditions and applicable limitations. Our existing convertible notes currently require us to maintain minimum cash liquidity of the lesser of $17.5 million or 10% of the outstanding balance of the notes. Turning now to our 2026 full-year guides.

截至今年第二季末，我們已完成近期收購案的大部分整合，並採取行動整併營運與團隊；再加上預期 2026 年下半年營收成長，我們預期今年剩餘期間營運現金消耗將逐步下降。截至季末，我們的資產負債表顯示持有 2,720 萬美元的約當現金與投資證券。此外，在符合市場狀況與相關限制的前提下，我們仍可透過現行 ATM（隨市發行）機制動用約 4,120 萬美元的額度。我們現有的可轉換公司債目前要求我們維持最低現金流動性，金額為 1,750 萬美元或票據未償餘額的 10% 兩者取其低。接下來談我們 2026 年全年指引。

For revenue, we are reiterating our guidance of $10 million to $16 million, with the bulk of expected revenue coming in the second half of the year, driven by our expanding commercial traction, existing inventories of long and short-range sensors, and planned production launch of our short-range MOVIA S sensor for industrial applications in October. For gross margin, as Glen mentioned, we are raising our guidance from 35% to 40% to 40% to 45%, driven by our improvements achieved in our supply arrangements and stronger mix of product sales. For cash burn from operations plus capital expenditures, we are maintaining our guidance of approximately $60 million this year, with second half improvements expected to come from revenue growth, favorable supply agreements, as previously mentioned, and reduced operating expenses as a result of the consolidation actions we took in the first half of this year.

就營收而言，我們重申 1,000 萬至 1,600 萬美元的指引；預期營收的大部分將在下半年入帳，主要由我們持續擴大的商業進展、既有的長距離與短距離感測器庫存，以及預計於 10 月針對工業應用啟動短距離 MOVIA S 感測器量產上市所帶動。就毛利率而言，如 Glen 所提，我們將指引由 35% 至 40% 上調至 40% 至 45%，主要受惠於供應安排的改善以及產品銷售組合更強勁。就營運現金消耗加資本支出而言，我們維持今年約 6,000 萬美元的指引；預期下半年的改善將來自營收成長、有利的供應協議（如前所述），以及我們在今年上半年採取整併措施後帶來的營運費用下降。

As we progress into the second half of the year, our focus from a financial perspective is clear. Expand and convert our commercial pipeline to enduring revenue, build a healthy and sustainable gross margin profile, efficiently manage cash with discipline while funding the programs that are most closely aligned with customer demand and commercialization, and astutely raise capital to support our business needs as we continue to execute our Lidar 2.0 strategy.

隨著我們進入下半年，從財務角度來看，我們的重點很明確。擴大並轉化我們的商業管線為可持續的營收；建立健康且可持續的毛利率結構；在為最貼近客戶需求與商業化的專案提供資金的同時，以紀律有效管理現金；並在持續執行 Lidar 2.0 策略的過程中，審慎籌措資金以支援業務需求。

Let me now pass it back to Glen for closing remarks.

接下來我把時間交還給 Glen，請他做結語。

Thanks, Steve. As we close today's call, I leave you with these overarching thoughts. Six months ago, we introduced Lidar 2.0 as a framework for where we believe this company needs to go. Today, you're seeing what that strategy looks like in execution. We've integrated major acquisitions while continuing to support customers without disruption. We've expanded our portfolio from automotive into industrial security and defense and robotics, AI, and now autonomous aerial systems. We strengthened our commercial organization, brought semiconductor expertise in-house, improved our cost structure, and continued to build a broader and more resilient pipeline. Perhaps most importantly, we're seeing customers respond to that strategy. They're increasingly looking for complete perception solutions, not simply sensors, and that's exactly where MicroVision is poised to lead.

謝謝你，Steve。在結束今天的電話會議前，我想留給各位幾點總結性的想法。六個月前，我們提出 Lidar 2.0，作為我們認為公司需要前進方向的框架。今天，各位看到的是這項策略在執行上的樣貌。我們在整合重大收購的同時，仍持續不間斷地支援客戶。我們將產品組合從車用擴展到工業、安全與國防、機器人、AI，以及現在的自主式航太系統。我們強化了商務組織、將半導體專業納入內部、改善成本結構，並持續建立更廣泛且更具韌性的商機管線。或許最重要的是，我們看到客戶對這項策略做出回應。他們愈來愈在尋找完整的感知解決方案，而不只是感測器，而這正是 MicroVision 蓄勢待發、準備引領的方向。

Our ability to pair purpose-built hardware with perception software, custom silicon, and an open architecture gives customers the flexibility they need while allowing us to participate in significantly larger market opportunities. We know there is still work ahead. Commercial programs take time to mature. Evaluations need to become production programs. Purchase orders need to become recurring revenue. Our job is now straightforward, execute, convert opportunities into customers, expand those relationships, drive revenue growth, and continue delivering against the scorecard we've shared with you today. I believe that MicroVision is a fundamentally different company than it was even a year ago. We have a broader technology portfolio. We have stronger commercial capabilities. We have a healthier operating model and many more opportunities than at any point in our history.

我們將專用硬體與感知軟體、自研矽晶片以及開放式架構相結合的能力，讓客戶具備所需的彈性，同時也使我們得以參與規模顯著更大的市場機會。我們知道前方仍有工作要做。商業化專案需要時間成熟。評估案需要轉為量產專案。採購訂單需要轉為經常性營收。我們現在的工作很明確：執行到位、把機會轉化為客戶、擴大這些關係、推動營收成長，並持續達成我們今天與各位分享的計分卡目標。我相信，MicroVision 即使相較一年前，也已是一家本質上不同的公司。我們擁有更廣泛的技術產品組合。我們具備更強的商業化能力。我們有更健康的營運模式，且機會比公司歷史上任何時點都更多。

The foundation we've built gives us confidence in where we're headed. We're excited about delivering in the second half of 2026 as we prepare for growth of 2027 and beyond. I'd like to thank our employees around the world for their commitment and execution through an incredibly busy first half of the year. I'd also like to thank our customers, partners, and shareholders for your continued confidence and support. We're looking forward to updating you, again, next quarter as we continue executing our strategy.

我們所建立的基礎，讓我們對前進方向充滿信心。在為 2027 年及更長遠的成長做準備之際，我們對於在 2026 年下半年交付成果感到振奮。我想感謝全球員工在今年極其忙碌的上半年所展現的投入與執行力。我也要感謝我們的客戶、合作夥伴與股東，感謝各位持續的信任與支持。隨著我們持續執行策略，我們期待在下個季度再次向各位更新進展。

Operator, we'll now open the line for questions.

接線員，我們現在開放提問。

(Operator Instructions) Casey Ryan, AmerX.

(接線員指示) Casey Ryan，AmerX。

Thanks, everybody. Glen, Steve, thanks for the terrific update today. I wanted to focus in on the upgrade on the gross margin guidance. That's pretty rapid from what was a good gross margin number last quarter. Tell me how much room you think there is structurally in a long-term steady state. I think obviously 40%, 45% is very good, and as you work through that. Is 45% kind of the ceiling, or do you see some sort of long-term range being somewhat higher than that current guidance?

謝謝各位。Glen、Steve，謝謝你們今天提供非常精彩的更新。我想聚焦在毛利率指引上調這件事。相較於上季已經不錯的毛利率數字，這次上調幅度相當快。請告訴我，你們認為在長期穩態下，結構性還有多少空間。我想很明顯 40%、45% 已經非常好，而在你們推進的過程中，45% 是否算是天花板？還是你們認為長期區間可能會略高於目前的指引？

Sure. Hey, Casey. I'll start, Steve, you can add. Long-term, I would expect us to be really between that 40% and 50% gross margin, depending a little bit on the product and the end market. If it's a product where there's more software content, so you're talking about products that would be delivered with not just the point cloud, but perceptions and features on top, or products more into the security and defense areas, specifically defense, you're going to see that gross margin move to the upper end of the range. If it's more of a temporary sensor that's delivering a point cloud or histograms, we don't have that added value or added content, in particular added non-hardware specific content, you're going to see it, I think, drift closer to the lower end of that range.

當然。嗨，Casey。我先回答，Steve 你可以補充。長期來看，我預期我們的毛利率大致會落在 40% 到 50% 之間，會因產品與終端市場而略有不同。如果是軟體含量較高的產品，也就是交付的不只是點雲，還包含其上的感知與功能，或是更偏向安防與國防領域的產品，尤其是國防，你會看到毛利率往區間上緣移動。如果比較像是較為「純感測器」的產品，只提供點雲或直方圖，我們沒有那些附加價值或附加內容，特別是非硬體特定的附加內容，我認為毛利率會更接近區間下緣。

For us, we think with these products and with the software content we have, that upper boundary is probably around 50%, the bottom boundary around 40%.

就我們而言，基於這些產品以及我們具備的軟體內容，我們認為上緣大概在 50%，下緣大概在 40%。

Okay. Yeah, terrific.

好的。是的，很棒。

Casey, I was just going to add to that, Casey. I think one of the things that you've heard with regards to our strategy is about design to cost. Within our product development space, we continue to look at cost reductions, get our BOM cost down as low as we can. Over the last little while, we've had some good negotiations with our supply base to get our cost base down, as just mentioned. That's why we elevated our guidance. I expect we will continue to see that as we progress into the future to get to those margins that Glen just mentioned.

Casey，我再補充一下，Casey。我認為你聽到我們策略的一個重點是「以成本為導向的設計」（design to cost）。在產品開發方面，我們持續尋找降本機會，盡可能把 BOM（物料清單）成本降到最低。最近一段時間，我們與供應鏈基礎進行了一些很好的談判，把成本基礎如剛才所說地降下來。這也是我們上調指引的原因。我預期隨著我們往前推進，仍會持續看到這樣的趨勢，以達到 Glen 剛提到的那些毛利率水準。

Okay. Terrific. Sort of the second question, sort of on the OPEX line, and I suspect there are some non-cash items here in sort of the SG&A and R&D lines you put out. But sort of this $24 million to $25 million range compares to kind of about maybe, say, $12 million to $13 million last year. Do you guys expect OPEX to be steady state around this mid-20s? Is that sort of something to expect? Or do you think now that you've gone through all this integration work in Q2, that that OPEX line might start to bend lower or trend lower going forward?

好的。很棒。第二個問題是關於營業費用（OPEX）那一行，我猜你們在 SG&A 與 R&D 這兩條線裡可能包含一些非現金項目。不過這個 2,400 萬到 2,500 萬美元的區間，相較於去年大概 1,200 萬到 1,300 萬美元左右。你們是否預期 OPEX 的穩態會在這個 2,000 多萬美元的中段水準？這是可以預期的嗎？或者你們認為在 Q2 完成這些整合作業之後，未來 OPEX 可能開始往下彎、或呈現下降趨勢？

Yeah, let me just add to that, Casey. Yeah, we clearly see our OPEX deteriorating over the next six months. It's very clear. All the consolidation actions that we took, as I mentioned, with regards to our Redmond consolidation, we will start to see that cost reduction come down as we progress throughout this year. We had a number of restructuring costs related to the acquisitions. A lot of that cost took place in the first half of the year. There will be a little bit come in Q3 as we kind of finish a couple of things. We will not see that stuff happening in the future on a run rate basis.

是的，Casey，我補充一下。是的，我們很清楚看到未來六個月 OPEX 會下降。這點非常明確。我們採取的所有整併行動，如我提到的 Redmond 據點整併，隨著今年推進，我們會開始看到成本降低。我們有一些與收購相關的重組成本。其中很大一部分成本發生在上半年。Q3 會再有一點點，因為我們要把幾件事收尾。未來在常態化的 run rate 基礎上，我們不會再看到那些事情發生。

Okay. All right.

好的。好。

Just be clear, Steve.

Steve，我確認一下。

Yes.

是。

When he says OPEX deteriorating, that's a good thing. It means.

他說 OPEX 在「惡化」（deteriorating），那其實是好事。意思是。

Right. Yeah. Absolutely. It's kind of like losing weight. I would love to be also deteriorating a little bit. Hey, Glen, you talked a lot at the top about aerial opportunities. One of the things we see across the industry is there's a lot of sort of detection and defense of sort of aerial things. It sounds like your opportunities can include being on board, and it might be tied to some of the advantages of the product in terms of weight and functionality. I wanted to see if you could expand and say, yeah, a lot of it's or tell us if it's primarily for defense and detection, or if it is actually sort of on board with things that are airborne, basically.

對。是的。完全正確。有點像減重一樣。我也很希望自己能「惡化」一點。嘿，Glen，你在開場談了很多空中（aerial）機會。我們在整個產業看到的一件事是，針對各種空中目標的偵測與防禦需求很多。聽起來你們的機會可能包含裝載在機上，而且可能與產品在重量與功能性方面的優勢有關。我想請你再延伸說明：這些機會主要是用於國防的偵測與防禦？還是其實是裝載在空中載具上，也就是在飛行中的平台上？

Yeah. For defense, there's three areas that we look at. One is detection, so longer range detection. Certainly that's where Scantinel plays a role. That's on the detection side. Near term, really the big opportunities appear to be both on board the drone. If you think about drones in the different categories, group 1 and 2 being kind of the sub 55-pound drones, the lighter weight drones, typically copters. Then above that, the group 3 drones, which tend to be fixed wing. The onboard perception and payloads on those drones is where we see the immediate opportunity, both in terms of defense, also in commercial applications like for everything from power line inspection to wind turbine blade inspection to terrain mapping and other types of kind of reconnaissance activities in commercial.

是的。在國防方面，我們看三個領域。第一是偵測，也就是更長距離的偵測。當然，Scantinel 在這裡扮演角色。這是在偵測端。短期來看，真正的大機會似乎同時在於無人機機載端。如果你把無人機分成不同類別，第 1 與第 2 組大致是 55 磅以下的無人機、較輕的無人機，通常是多旋翼。再往上是第 3 組無人機，通常是固定翼。我們看到的即時機會在於這些無人機上的機載感知與載荷（payload），不僅在國防方面，也在商業應用上，例如從電力線巡檢、風機葉片巡檢、地形測繪，到其他各類商業偵察活動。

In defense, though, it's very clear that onboard applications. That's what we're going to be demonstrating at JIFX next week. That's where the immediate pull is. Across those segments, in parallel to that is the ground base that we talked about, autonomous vehicles on the ground that want lighter sensors on those vehicles as well. For the aerial, it's on board the airplane.

不過，從國防的角度來看，很明顯需求在於機載應用。這也是我們下週在 JIFX 將要展示的內容。那就是眼前最直接的拉動力所在。在這些細分領域中，與此並行的是我們談到的地面端基礎：地面自主車輛也希望在車上搭載更輕量的感測器。至於空中端，就是安裝在飛機上。

Yeah. That's pretty exciting because I feel like you're the only ones talking about being on board that way that I've listened to so far.

是的。這真的很令人興奮，因為就我目前聽到的內容來看，你們似乎是唯一在談這種機載方式的公司。

One of the things I'd add is this is where for us as a U.S. and a German company that can make short range, wide field of view, lightweight lidar. Lightweight and low power lidar that has a wide field of view, can see a tremendous amount from 30 ft or 50 ft off the ground. We can do that. As a U.S. and German company, we're uniquely positioned to do that, and that's a big pull. That is really a strong pull for that in the MOVIA Air products.

我想補充的一點是：對我們而言，作為一家美國與德國的公司，我們能夠製造短距離、廣視野、輕量化的光達。輕量且低功耗、具備廣視野的光達，能從離地 30 英尺或 50 英尺的高度看到非常大量的資訊。我們做得到。作為一家美國與德國的公司，我們在這方面具備獨特的優勢，而這也是一個很大的需求拉動力。這對 MOVIA Air 產品而言確實是非常強的拉動力。

Right. Okay. Super. Thanks for that clarification. Last question. It's like we get early sort of across the industry, this feels like we're trending towards, I guess selling sensors together or working together, lidar and camera makers, lidar and radar. Are you seeing sort of an ecosystem or potential to partner with other sensor categories to sort of provide, I guess, a fuller solution to certain people. Is that something customers are asking for?

了解。好。太好了。謝謝你的澄清。最後一個問題。感覺整個產業早期就有這種趨勢：把感測器一起銷售或一起合作，例如光達與相機廠商、光達與雷達廠商合作。你們是否看到某種生態系，或與其他感測器類別合作的可能性，以便為某些客戶提供更完整的解決方案？客戶有在要求這樣的事情嗎？

Yeah.

有。

Are people still focused solely on just, when they talk to you, only the lidar sensor piece of that?

大家在跟你們談的時候，是否仍然只專注在光達感測器這一塊？

It really varies a little bit by end market and then also by the specific customer. What I mean by that is if we're talking about defense, our payloads are LiDAR and camera.

這其實會因終端市場不同、以及特定客戶而略有差異。我的意思是，如果我們談的是國防，我們的載荷是光達加相機。

Okay.

了解。

We can also integrate radar. It is multimodal. We do that integration in the payload. We manage all of that, combine those, basically fuse that, and then provide three-dimensional maps with vision, with camera overlays. If you're talking about automotive is very much, by and large, a multimodal architecture where the system architects break apart those modalities and then they're responsible for sensor fusion. In that case.

我們也可以整合雷達。這是多模態的。我們在載荷中完成這些整合。我們管理所有這些，把它們組合起來，基本上做感測器融合，然後提供帶有視覺資訊的三維地圖，並疊加相機影像。如果談的是汽車領域，基本上大多是多模態架構，系統架構師會把這些模態拆開，然後由他們負責感測器融合。在那種情況下。

Okay.

了解。

A robotaxi would come to us to talk about LiDAR. They already have a vision solution. They already have a radar solution. It's a LiDAR specific solution they're looking for. Depending on the application, you get a mix. Of course, then we can do both. For automotive, and it's typically LiDAR pure play. For defense, it's both. In industrial, it's a complete mix. We've seen both just LiDAR only as well as combined systems.

Robotaxi 會來找我們談光達。他們已經有視覺解決方案。他們也已經有雷達解決方案。他們要找的是一個光達的特定解決方案。依應用不同，你會看到各種組合。當然，我們兩種都能做。在汽車領域，通常是純光達的玩法。在國防領域，則兩者都有。在工業領域，則是完全混合。我們看過只有光達，也看過整合式系統。

Okay. Thank you. It's really a very good quarter and really good progress through the year so far, thanks for the update, we look forward to more to come in the second half. Thank you.

了解。謝謝。這真的是一個非常好的季度，而且今年到目前為止的進展也非常好；謝謝更新，我們期待下半年有更多進展。謝謝。

Thank you, Casey.

謝謝你，Casey。

Thank you very much. I will now turn this call back over to Steve Hrynewich for reading questions submitted by shareholders. Thank you.

非常感謝。我現在把電話交回給 Steve Hrynewich，由他宣讀股東提交的問題。謝謝。

Thank you, Operator. The first question is, why is MicroVision confident in its 2026 revenue guidance of $10 million to $15 million?

謝謝，接線員。第一個問題是：為什麼 MicroVision 對其 2026 年營收指引 1,000 萬至 1,500 萬美元有信心？

Steve, maybe why don't you start and then I can add in.

Steve，也許你先開始，我再補充。

Well, I think as we progress throughout the year, as you saw, our revenue of $2.4 million for the first half. As we progress into the second half of the year with all of the customer engagements that we've been engaged in, we've got all of our inventory coming so we can get those sensors reworked and get those out to the customers. So I think with that long list of customers, we have that list all down by customer. We expect us to hit this range of $10 million to $15 million this year.

我想，隨著我們在今年持續推進，正如你所看到的，我們上半年營收為 240 萬美元。當我們進入下半年，隨著我們正在進行的所有客戶互動，我們的庫存也都會到位，這樣我們就能把那些感測器重新加工並交付給客戶。因此，我認為憑藉那一長串客戶名單，我們也按客戶逐一列出。我們預期今年能達到 1,000 萬至 1,500 萬美元這個區間。

Anything else, Glen?

還有其他要補充的嗎，Glen？

Yeah. The thing I would add is if you think about how, when we acquired Luminar, and then we spent the first quarter really kind of restarting those relationships and re-engaging in those POs. And then over the course of Q2, significantly expanded that. So we have, I think it's about half of those 30 customers now back on board that we're either shipping to or will be shipping to.

有。我想補充的是：如果你回想我們收購 Luminar 之後，我們在第一季主要是在某種程度上重新啟動那些關係，並重新投入那些採購訂單（PO）。接著在第二季的過程中，我們大幅擴展了這些。所以我想，目前大約 30 個客戶中，約有一半已經回到軌道上，我們不是正在出貨給他們，就是即將出貨。

And that involves kind of restarting up the supply chain for IRIS. And that supply chain had been suspended in many cases due to the bankruptcy and what had been happening before the acquisition. So the team, this is kind of behind the scenes, we don't talk a lot about it, but the team has done a really amazing job of restarting those relationships with those suppliers, those key suppliers for the product that we need to be able to fulfill those POs.

而這也涉及重新啟動 IRIS 的供應鏈。由於破產以及收購前發生的情況，該供應鏈在許多情況下曾被暫停。所以團隊在幕後做了非常了不起的工作——我們不太常談這件事——他們重新啟動了與供應商的關係，特別是那些我們為了履行這些 PO 所需產品的關鍵供應商。

And so as we're putting that plan together and getting those suppliers back on board, the revenue range just reflects the fact that we still have some work to do there, and the timing of that isn't fully nailed down. So we'll deliver as much as we can. We're confident in the range. Where we land exactly will depend on what we're able to do with the supply base and how many products we can ship.

因此，當我們把計畫整合起來並讓這些供應商重新回到供應體系時，這個營收區間反映的是：我們在那裡仍有一些工作要做，而其時程尚未完全敲定。所以我們會盡可能多交付。我們對這個區間有信心。至於最終落在哪個點，將取決於我們在供應端能做到什麼，以及我們能出貨多少產品。

So it's more of a timing issue as opposed to a revenue issue because it'll either happen in Q3, Q4 of this year or Q1 and Q2 of next year. So it's really a matter of timing.

所以這比較是時程問題，而不是營收問題，因為它可能會發生在今年的第三季、第四季，或是明年的第一季、第二季。所以這真的就是時間點的問題。

Okay. Thanks, Glen. Second question. Your revenue guidance for this year is $10 million to $15 million, with the majority attributed to the IRIS sensor sales. What are your expectations for revenue growth next year with MOVIA S in production?

了解。謝謝你，Glen。第二個問題。你們今年的營收指引是 1,000 萬至 1,500 萬美元，其中大部分歸因於 IRIS 感測器銷售。在 MOVIA S 進入量產後，你們對明年的營收成長有何預期？

Yeah, if you look at this year, I think 70% to 80% of our revenue came out of those IRIS and HALO sales, which reflects just an outstanding conversion rate. So really happy about that because, as we talked about in the last earnings call, one of the key and imperative elements of the Luminar acquisition was reconstituting those commercial relationships.

是的，如果你看今年，我認為我們約有 70% 到 80% 的營收來自 IRIS 與 HALO 的銷售，這反映出非常出色的轉換率。所以我們對此真的很高興，因為如同我們在上一季財報電話會議中談到的，Luminar 併購案其中一個關鍵且勢在必行的要素，就是重建那些商業合作關係。

We didn't want to lose that, and we've been very successful in doing exactly that, getting those relationships back on track, getting POs and supply agreements, or even development agreements, back on track that we're now shipping against and working to. MOVIA L has been a great product for us in terms of supporting ongoing sales to the UGV providers in Europe. And so that's been really, I think, a great application for it.

我們不希望失去那些關係，而我們也非常成功地做到了這一點：讓這些關係回到正軌，讓採購訂單（PO）與供應協議，甚至是開發協議，回到正軌；我們現在正依此出貨並推進相關工作。就支援我們在歐洲對無人地面載具（UGV）供應商的持續銷售而言，MOVIA L 一直是對我們非常好的產品。因此我認為，這確實是一個很好的應用。

MOVIA S launching here late this year. This is where we have the more than 25 different engagements and development programs going now for MOVIA S and evaluation with customers. We're really excited about that. We launch in October. So we ramp up in October, which means there's not a large revenue portion for 2026 from MOVIA S.

MOVIA S 將在今年稍晚推出。這部分是我們目前針對 MOVIA S 已有超過 25 個不同的合作洽談與開發專案在進行中，並且與客戶進行評估。我們對此非常興奮。我們會在 10 月上市。因此我們在 10 月開始爬坡量產，這也意味著 MOVIA S 在 2026 年的營收占比不會很大。

Going into 2027, we expect this to be a very meaningful part of the revenue curve. And so we're capacitizing in Orlando to around 15,000 units. So that'd be on a single-shift basis. So we have room to flex that and do more. But that's what we're planning for and preparing for in terms of making sure we have materials, making sure we have operators, making sure we have the ability to deliver on that.

進入 2027 年，我們預期這將成為營收曲線中非常重要的一部分。因此我們正在奧蘭多擴充產能至約 15,000 台。這是以單班制為基礎。我們也有空間可以彈性調整、做得更多。但就確保我們備妥材料、備妥操作人員、並確保具備交付能力而言，這就是我們正在規劃與準備的方向。

So what's happening between now and October as we provide our customers with pre-launch, pre-production final samples is converting now those evaluations and those discussions into purchase orders for initial production and building out that sales book for Q4 as well as '27 and '28. And so right now, we're thinking about 15,000-unit sales for next year.

因此，從現在到 10 月之間，當我們向客戶提供上市前、量產前的最終樣品時，正在發生的事情就是把目前的評估與討論轉換成初期量產的採購訂單，並建立第四季以及 2027、2028 年的銷售訂單簿。所以目前我們對明年的銷量預估大約是 15,000 台。

Okay. Glen, are you still there?

好的。Glen，你還在線上嗎？

Yeah, I had an interruption on my end of the line. But that 15,000 units is nominally where we would expect to be. We'll be talking more about that as we get closer to and move through the launch period.

在，我這邊線路有點中斷。不過那 15,000 台大致上就是我們預期的水準。隨著我們更接近並進入上市期間，我們會再更詳細地談這部分。

Good. Okay, next question is, you have made announcements with partnerships in the Security & Defense sector. When will we begin to see top-line revenue growth from these collaborations?

很好。好的，下一個問題是：你們已宣布在安防與國防領域的合作夥伴關係。我們何時會開始看到這些合作帶來的營收（top-line）成長？

Yeah, it's happening right now. That's the short answer. If you think about Lake Fusion Technologies, we're shipping now. We're working with them today, and there are unit sales that are occurring here in Q3. When you look at J.A. Green & Company and IDI Laser, those are relationships we're now building.

是的，現在就正在發生。這是簡短的答案。如果你看 Lake Fusion Technologies，我們現在已在出貨。我們今天就正在與他們合作，而且在第三季確實有單位銷售正在發生。再看 J.A. Green & Company 與 IDI Laser，這些都是我們正在建立中的合作關係。

So for those, I would expect potentially evaluations or small unit sales as early as this year, so Q4 of this year, but certainly part of the book next year. And how meaningful it can be, if it's a development agreement, there may be more NRE or funding for next year as opposed to unit sales.

因此對於這些合作，我預期最早可能在今年就會出現評估案或小量出貨，也就是今年第四季，但肯定會成為明年訂單簿的一部分。至於能有多大規模，如果是開發協議，那明年可能會以更多 NRE（非經常性工程費用）或資金挹注為主，而不是以單位銷售為主。

If it's an immediate application, kind of like what we found in Europe with the UGV provider, where literally it was two months from initial engagement to development, evaluation, and now shipping units to put on the vehicle, then you're going to see revenue and unit sales impact in '27.

如果是立即性的應用，有點像我們在歐洲與 UGV 供應商的案例，從初次接觸到開發、評估，然後開始出貨把產品裝到車上，真的只花了兩個月，那麼你會在 2027 年看到營收與出貨量的影響。

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And then with the longer-term development partners, that's more in the -- and development activities, more in the '28 timeframe.

而對於較長期的開發夥伴關係，以及相關開發活動，時間點則更偏向 2028 年。

Okay. Next question is, MicroVision previously discussed $500 million in booking opportunities from 2026 to 2030. Are there any updates to this projection?

好的。下一個問題是：MicroVision 先前提到 2026 到 2030 年有 5 億美元的訂單機會（booking opportunities）。這個預測有任何更新嗎？

Yeah. The $500 million was us looking at, here are all the opportunities. It was a little over 100 different distinct or unique customer accounts that we were engaged with. As we look at it this quarter, that number's grown by about 30%, so over 130 different engagements. Now, these are -- some are very large, some are smaller, but again, when we looked at that potential booking opportunity between now and 2030, that had increased to $750 million.

有。那 5 億美元是我們當時在看：這裡有所有的機會。當時我們接觸的不同、明確或獨特的客戶帳戶略多於 100 個。以本季來看，這個數字成長了約 30%，也就是超過 130 個不同的合作洽談。現在，這些案子有些非常大、有些較小；但同樣地，當我們看 2030 年前的潛在訂單機會時，已增加到 7.5 億美元。

And that's where -- Also, we discount that, so we're not looking at, well, what could it be if all the volume came through? It's our view of what do we really think this could look like? So that's increased by about 50, what is it, $500 million to $750 million by about 50%. It really relates to a lot of the MOVIA S opportunities, where it's a multiple use per vehicle or per system, so four per or two per, and then also through defense as we continue to expand our engagements there. So not a major move relative to auto, much bigger moves in industrial and bigger moves in security and defense.

此外，我們也會對其進行折現（discount），所以我們不是在看「如果所有量都進來會是多少」。而是我們對「我們真正認為它可能長什麼樣子」的判斷。因此從 5 億美元到 7.5 億美元，增加了約 50%，也就是增加了 50%。這主要與許多 MOVIA S 的機會有關，因為每台車或每個系統可能會多顆使用，例如每台用四顆或兩顆；同時也與國防領域有關，因為我們持續擴大在那裡的合作洽談。所以相較於車用（auto）並沒有很大的變動；較大的變動在工業領域，以及在安防與國防領域。

Okay. Our next question says, management has described software as a key part of MicroVision's strategy. How did the software help accelerate customer adoption, reduce system costs, and drive commercial success?

好的。下一個問題是：管理層將軟體描述為 MicroVision 策略的關鍵部分。軟體如何協助加速客戶採用、降低系統成本，並推動商業成功？

Yeah. Really a couple of ways, and I'll just talk about, I think, what are probably the two most important. The first is how we use the software inside the sensor, both in terms of the sensor model. This just really involves always looking at solving the signal processing challenge for the sensor in software as opposed to in hardware, so not investing in more expensive detection or more expensive laser generation or more expensive processors, but looking at how do I simplify that by doing more with software? AI is a key component of that in terms of how we process the histograms coming from the spat, how we look at the signal coming out of an FMCW receiver. So it's all about simplifying the sensor itself through basically AI in the software and the sensor model.

是的。主要有幾個方式，我只談我認為最重要的兩點。第一點是我們如何在感測器內部使用軟體，包含感測器模型（sensor model）。這基本上涉及：我們總是傾向用軟體而不是硬體來解決感測器的訊號處理挑戰，因此不需要投資更昂貴的偵測元件、更昂貴的雷射產生，或更昂貴的處理器，而是思考如何透過更多軟體能力來簡化。AI 是其中的關鍵組成，包含我們如何處理來自 SPAD 的直方圖（histograms），以及如何看待從 FMCW 接收器輸出的訊號。所以重點就是透過軟體與感測器模型中的 AI，來簡化感測器本身。

And so that's a big push by the team in terms of our product roadmap in driving down the cost. That works in conjunction, by the way, of up integration and basically consolidating silicon. We're reducing the number of discrete hardware components.

因此，團隊在產品路線圖上很大的一個推動方向，就是降低成本。順帶一提，這也會與提升整合度（up integration）以及基本上整合矽晶（consolidating silicon）相互配合。我們正在降低離散硬體元件的數量。

The other way is really what we refer to as open software framework, that's more on the development side. How we open up the software in the sensor so that our customers are able to optimize their systems around the sensor that we provide. And it's not a black box. It's an open system. It's not open source, but it's an open system such that they can really optimize and achieve lower cost total system architecture. They can reduce the cost of the system architecture, but also simplifies their development and validation and reduces their time to market.

第二個方式是我們所稱的開放式軟體框架（open software framework），這比較偏向開發端。也就是我們如何開放感測器內的軟體，讓客戶能夠圍繞我們提供的感測器來最佳化他們的系統。它不是黑盒子。它是一個開放系統。它不是開源（open source），但它是一個開放系統，使他們能真正最佳化並達成更低成本的整體系統架構。他們可以降低系統架構成本，同時也能簡化其開發與驗證，並縮短上市時間。

We're trying to make it as easy as possible for our customers to adopt our product, integrate it into their architectures, validate it, deploy it, and then support it in production.

我們正努力讓客戶能夠盡可能輕鬆地採用我們的產品，將其整合進其架構中，完成驗證、部署，並在量產環境中提供支援。

Good. Okay, I think we got time for one more question. With the launch of MicroVision Semiconductor, how is management leveraging this new segment to accelerate strategic partnerships in automotive, defense, and industrial markets?

好的。好，我想我們還有時間再問一個問題。隨著 MicroVision Semiconductor 的推出，管理團隊如何運用這個新事業部門，加速在汽車、國防與工業市場的策略合作夥伴關係？

Yeah. With MicroVision Semiconductor, as we talked about in the earnings call, they serve MicroVision, so they're a critical part of our efforts to basically up-integrate into silicon functionality in the sensor and lower total cost. That's hugely important because it's through that simplification of the silicon in the sensor that you're able to drive cost down. MSI can directly help us do that, whether it's a laser driver IC, a photonics integrated chip, a new form of detector, photodetector, that's the place they play internally for us, and a critical part of reducing sensor cost. What's interesting is they also have tremendous relationships on the outside where they're doing mixed signal design, chip design, other designs for other customers, other sensor providers, other data processing providers, you name it. They have a complete mix of customers.

是的。關於 MicroVision Semiconductor，正如我們在財報電話會議中談到的，他們服務於 MicroVision，因此是我們推動把感測器的矽功能向上整合、並降低總成本的關鍵一環。這非常重要，因為正是透過簡化感測器中的矽，才能把成本降下來。MSI 可以直接協助我們做到這點，無論是雷射驅動 IC、光子整合晶片、新形式的偵測器、光偵測器，這些都是他們在內部為我們扮演的角色，也是降低感測器成本的關鍵部分。有趣的是，他們在外部也擁有非常深厚的關係，正在為其他客戶、其他感測器供應商、其他資料處理供應商等提供混合訊號設計、晶片設計與其他設計服務，應有盡有。他們擁有非常多元的客戶組合。

This builds relationships for us in that whole semiconductor industry that you just don't have as a consumer. You're a developer. You're working with the fabs. You're working with the supply chain, the packaging houses. It gives us a really interesting and a really unique opportunity to develop an ecosystem outside of MicroVision, one that's a great business for us, but also one that's important in supporting our own growth. That's where MSI is such a great asset for us. It was just part of that Luminar acquisition that we really are now leveraging fully.

這讓我們在整個半導體產業建立起關係，而這些關係若只是以消費者身分是很難擁有的。你是開發者。你會與晶圓代工廠合作。你會與供應鏈、封裝廠合作。這為我們提供了一個非常有趣且獨特的機會，去打造一個 MicroVision 之外的生態系；這不僅對我們而言是一門很好的生意，也對支援我們自身成長至關重要。這正是 MSI 對我們而言如此重要的資產所在。它原本只是 Luminar 併購案的一部分，而我們現在確實正在充分加以運用。

I'll just add one thing to that. As I mentioned in my pre-remarks, about 15% of our revenue in quarter two was from MSI. That project that we're working on, we will see more revenue come in Q3 as we finish that project out. We are also responding to multiple RFQs. That's for additional business for us as we progress in for the rest of the year.

我再補充一點。如我在開場說明中提到的，第二季我們約 15% 的營收來自 MSI。我們正在進行的那個專案，隨著我們在第三季完成該專案，我們將看到更多營收在 Q3 入帳。我們也正在回覆多項 RFQ（報價請求）。這將成為我們在今年剩餘期間持續推進的額外業務機會。

Yeah.

是的。

We are now at the top of the hour. Thank you very much for your time, everybody. Thank you for your participation, and we will close the call. Thanks again for your continued support of MicroVision.

我們現在已到整點。非常感謝各位撥冗參與。感謝各位的參與，我們將結束本次電話會議。再次感謝各位持續支持 MicroVision。

Thank you. This concludes today's conference call. All parties may disconnect and have a great day. Thank you.

謝謝。今天的電話會議到此結束。各方可斷線，祝各位有美好的一天。謝謝。