Estados financieros detallados de MicroVision, Inc. (MVIS): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
MicroVision, Inc. registró ingresos de $1.2M en el último ejercicio fiscal, con un CAGR de 5 años del -17.1%.
Márgenes de los últimos 12 meses: margen bruto -6.8%, margen operativo -30.8%, margen neto -39.8%.
Al precio actual de $1.63, MVIS presenta beneficios negativos (P/E no significativo) y un ROE del -221.31%. La capitalización bursátil es de $38M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $14.8M | $10.9M | $17.6M | $8.9M | $3.1M | $2.5M | $664000 | $7.3M | $4.7M | $1.2M |
| Coste de Ventas | $10.4M | $9.9M | $10.6M | $8.6M | $1.4M | $2000 | $100000 | $2.8M | $7.5M | $18.5M |
| Beneficio Bruto | $4.4M | $1.0M | $7.0M | $322000 | $1.7M | $2.5M | $564000 | $4.5M | -$2.8M | -$17.3M |
| I+D | $12.1M | $15.1M | $24.7M | $18.7M | $9.8M | $24.1M | $30.4M | $56.7M | $49.0M | $31.7M |
| Generales y Administrativos | $8.7M | $10.2M | $9.5M | 0 | 0 | 0 | 0 | 0 | 0 | $20.3M |
| Gastos Operativos | $20.8M | $25.3M | $34.2M | $26.8M | $15.3M | $46.4M | $54.5M | $93.4M | $82.7M | $52.0M |
| Beneficio Operativo | -$16.5M | -$24.2M | -$27.2M | -$26.5M | -$13.6M | -$43.9M | -$53.9M | -$88.9M | -$85.5M | -$69.4M |
| EBITDA | -$15.2M | -$24.2M | -$25.4M | -$25.3M | -$13.6M | -$42.2M | -$52.3M | -$83.1M | -$71.0M | -$70.7M |
| Gastos por Intereses | 0 | 0 | 0 | 0 | 0 | 0 | $62000 | $80000 | $4.5M | $18.5M |
| Beneficio Antes de Impuestos | -$16.5M | -$24.2M | -$27.2M | -$26.5M | -$13.6M | -$43.2M | -$53.1M | -$81.7M | -$96.4M | -$95.1M |
| Impuestos | 0 | $1.3M | -$30000 | 0 | 0 | 0 | 0 | $1.1M | $507000 | -$84000 |
| Beneficio Neto | -$16.5M | -$24.2M | -$27.2M | -$26.5M | -$13.6M | -$43.2M | -$53.1M | -$82.8M | -$96.9M | -$95.0M |
| BPA | $-4.80 | $-4.95 | $-4.65 | $-3.30 | $-1.46 | $-4.05 | $-4.80 | $-6.75 | $-6.90 | $-5.25 |
| BPA Diluido | $-4.80 | $-4.95 | $-4.65 | $-3.30 | $-1.46 | $-4.05 | $-4.80 | $-6.75 | $-6.90 | $-5.25 |
| Acciones en Circulación (Diluidas) | $3.5M | $4.9M | $5.8M | $7.4M | $9.3M | $10.7M | $11.1M | $12.2M | $14.0M | $18.2M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $241000 | $223000 | $935000 | $1.5M |
| Beneficio Bruto | -$2.1M | -$16.1M | -$2.0M | $642000 |
| Beneficio Operativo | -$12.7M | -$28.0M | -$23.6M | -$24.2M |
| EBITDA | -$10.5M | -$35.4M | -$20.0M | -$31.3M |
| Beneficio Neto | -$14.2M | -$37.8M | -$25.3M | -$36.9M |
| BPA | $-0.75 | $-1.80 | $-1.20 | $-1.66 |
| BPA Diluido | $-0.75 | $-1.80 | $-1.20 | $-1.66 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $15.1M | $17.0M | $13.8M | $5.8M | $16.9M | $82.6M | $20.5M | $45.2M | $54.5M | $32.4M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | $32.7M | $62.2M | $28.6M | $20.2M | $42.5M |
| Cuentas por Cobrar | $245000 | $695000 | $1.5M | $1.1M | 0 | 0 | 0 | $949000 | $926000 | $47000 |
| Inventario | $1.2M | $4.5M | $1.1M | $192000 | 0 | $1.8M | $1.9M | $3.9M | $2.3M | $745000 |
| Activos Corrientes | $17.3M | $23.1M | $17.6M | $7.8M | $17.6M | $119.4M | $91.0M | $86.8M | $82.5M | $81.1M |
| Inmovilizado Material | $1.5M | $3.3M | $3.0M | $3.2M | $2.8M | $8.6M | $21.4M | $22.8M | $23.8M | $18.4M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | $718000 | $602000 | $486000 | $221000 | $164000 | $115000 | $75000 | $17.2M | $11.0M | $32000 |
| Activos Totales | $20.1M | $29.7M | $23.0M | $11.8M | $21.0M | $130.2M | $115.0M | $129.6M | $121.2M | $103.1M |
| Cuentas por Pagar | $2.2M | $3.1M | $2.4M | $1.9M | $630000 | $3.6M | $2.1M | $2.3M | $1.1M | $1.6M |
| Deuda a Corto | 0 | 0 | 0 | 0 | $1.1M | $392000 | 0 | 0 | $24.2M | $19.2M |
| Pasivos Corrientes | $7.2M | $20.1M | $18.2M | $14.5M | $10.0M | $12.5M | $11.4M | $20.5M | $46.0M | $30.1M |
| Deuda a Largo | 0 | 0 | 0 | 0 | $1.2M | 0 | 0 | 0 | $8.8M | 0 |
| Pasivos Totales | $12.6M | $24.8M | $18.9M | $15.8M | $12.0M | $17.5M | $25.3M | $33.8M | $72.4M | $47.6M |
| Reservas | -$499.8M | -$524.1M | -$546.1M | -$572.6M | -$586.2M | -$629.4M | -$682.5M | -$765.4M | -$862.3M | -$957.3M |
| Patrimonio Neto | $7.5M | $4.9M | $4.1M | -$4.0M | $9.0M | $112.8M | $89.7M | $95.8M | $48.8M | $55.5M |
| Deuda Total | 0 | 0 | $54000 | $2.0M | $3.8M | $6.3M | $15.7M | $15.0M | $51.6M | $36.8M |
| Deuda Neta | -$15.1M | -$17.0M | -$13.7M | -$3.8M | -$13.0M | -$109.1M | -$67.0M | -$58.7M | -$23.1M | -$38.1M |
| Capital Circulante | $10.1M | $3.1M | -$539000 | -$6.6M | $7.5M | $107.0M | $79.6M | $66.3M | $36.5M | $51.0M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $72.8M | $32.4M | $46.1M | $27.2M |
| Activos Totales | $150.8M | $103.1M | $110.2M | $88.6M |
| Pasivos Totales | $60.1M | $47.6M | $70.7M | $68.0M |
| Patrimonio Neto | $90.7M | $55.5M | $39.5M | $20.6M |
| Deuda Total | $46.6M | $36.8M | $53.4M | $45.5M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$16.5M | -$24.2M | -$27.2M | -$26.5M | -$13.6M | -$43.2M | -$53.1M | -$82.8M | -$96.9M | -$95.0M |
| Amortizaciones | $1.2M | $1.3M | $1.8M | $1.6M | $963000 | $1.5M | $2.2M | $7.9M | $6.9M | $5.8M |
| Compensación en Acciones | $1.2M | $1.3M | $1.1M | $1.6M | $1.3M | $15.3M | $15.5M | $16.1M | $11.5M | $701000 |
| Cambio en Capital Circulante | -$1.0M | $5.3M | -$2.8M | -$3.6M | -$4.4M | -$3.3M | -$2.8M | -$5.4M | -$9.2M | -$6.1M |
| Flujo de Caja Operativo | -$14.8M | -$15.5M | -$22.6M | -$24.0M | -$16.1M | -$29.4M | -$38.0M | -$67.1M | -$68.5M | -$58.7M |
| Inversiones (CapEx) | -$895000 | -$3.1M | -$1.1M | -$745000 | -$402000 | -$2.5M | -$4.4M | -$1.9M | -$374000 | -$679000 |
| Adquisiciones | $4000 | $59000 | 0 | 0 | 0 | 0 | 0 | -$11.2M | -$6.3M | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$15.7M | -$18.6M | -$23.7M | -$24.8M | -$16.5M | -$31.9M | -$42.4M | -$69.0M | -$68.9M | -$59.4M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$16.5M | -$15.4M | -$15.4M | -$35.6M |
| Inversiones (CapEx) | -$128000 | -$244000 | -$143000 | -$448000 |
| Flujo de Caja Libre | -$16.6M | -$15.6M | -$15.5M | -$36.0M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | -$1.6M | -$1.5M | $983000 | $2.3M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | -26.2% | +61.7% | -49.5% | -65.2% | -19.1% | -73.4% | +993.2% | -35.3% | -74.3% |
| Crecimiento Beneficio Neto (anual) | | -47.2% | -12.4% | +2.8% | +48.5% | -216.9% | -22.9% | -56.0% | -17.0% | +2.0% |
| Crecimiento BPA (anual) | | -3.1% | +6.1% | +29.0% | +55.7% | -176.9% | -18.5% | -40.6% | -2.2% | +23.9% |
| Cambio en Acciones (anual) | | +40.1% | +19.5% | +28.0% | +25.6% | +14.9% | +3.3% | +10.1% | +14.6% | +30.4% |
| Crecimiento FCF (anual) | | -18.2% | -27.5% | -4.6% | +33.5% | -93.6% | -32.9% | -62.9% | +0.2% | +13.8% |
| Margen Bruto | 29.7% | 9.3% | 39.6% | 3.6% | 54.8% | 99.9% | 84.9% | 61.8% | -60.3% | -1435.4% |
| Margen Operativo | -111.5% | -222.5% | -154.6% | -297.9% | -440.6% | -1754.8% | -8116.0% | -1224.3% | -1821.1% | -5743.8% |
| Margen EBITDA | -103.0% | -222.4% | -144.2% | -284.6% | -439.0% | -1690.0% | -7874.1% | -1144.4% | -1511.4% | -5853.5% |
| Margen Neto | -111.6% | -222.6% | -154.8% | -298.0% | -441.2% | -1728.0% | -7995.6% | -1141.2% | -2063.8% | -7862.7% |
| Margen FCF | -106.5% | -170.6% | -134.5% | -279.0% | -533.2% | -1275.9% | -6382.2% | -950.9% | -1467.5% | -4917.1% |
| Tasa Impositiva Efectiva | -0.0% | -5.2% | 0.1% | -0.0% | -0.0% | -0.0% | -0.0% | -1.4% | -0.5% | 0.1% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-4.54 | $-3.83 | $-4.09 | $-3.34 | $-1.77 | $-2.98 | $-3.83 | $-5.66 | $-4.93 | $-3.26 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $3.5M | $4.9M | $5.8M | $7.4M | $9.3M | $10.7M | $11.1M | $12.2M | $14.0M | $18.2M |
Qué mirar en empresas de Technology
- Crecimiento de ingresos 3a (≥15%/año) — Valida tracción sostenida, no un año puntual.
- Margen bruto (Depende del sub-sector) — SaaS ≥70%, Internet ≥55%, Semis ≥45%, Hardware ≥35%.
- FCF / Ingresos (≥20%) — Caja real generada. Muchas tech maquillan beneficios non-GAAP.
- ROIC (≥15%) — Eficiencia del capital reinvertido — la primera métrica de Buffett.
- SBC / Ingresos (<10% saludable) — Stock-based compensation. Dilución silenciosa: >20% destruye valor.
- Deuda Neta / EBITDA (≤2x (1,5x SaaS)) — Resistencia en recesiones y subidas de tipos.
Rentabilidad
| Rentabilidad sobre capital | -221.31% |
| Rentabilidad sobre capital invertido | -130.38% |
| Rentabilidad sobre activos | -128.90% |
| Margen bruto | -681.62% |
| Margen operativo | -3081.23% |
| Margen neto | -3976.67% |
Salud financiera
| Deuda / Patrimonio | 2.20 |
| Ratio corriente | 0.68 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -3.94 | -4.94 | -1.94 | -3.27 | -55.18 | -18.56 | -7.34 | -5.91 | -2.85 | -2.37 |
| P/VC | 8.76 | 24.38 | 12.68 | -20.15 | 83.50 | 7.14 | 4.35 | 5.08 | 5.63 | 4.07 |
| P/V | 4.44 | 10.89 | 2.96 | 9.02 | 243.46 | 321.97 | 587.35 | 66.99 | 58.45 | 187.22 |
| Margen Bruto | 29.7% | 9.3% | 39.6% | 3.6% | 54.8% | 99.9% | 84.9% | 61.8% | -60.3% | -1435.4% |
| Margen Operativo | -111.5% | -222.5% | -154.6% | -297.9% | -440.6% | -1754.8% | -8116.0% | -1224.3% | -1821.1% | -5743.8% |
| Margen Neto | -111.6% | -222.6% | -154.8% | -298.0% | -441.2% | -1728.0% | -7995.6% | -1141.2% | -2063.8% | -7862.7% |