Ladenburg Thalmann 2018 Tech Expo - MAY 31, 2018 - Seeking Alpha
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Ladenburg Thalmann 2018 Tech Expo MAY 31, 2018 © 2018 MICROVISION, INC. ALL RIGHTS RESERVED. 1
SAFE HARBOR STATEMENT The statements and graphics in this presentation that are not historical facts, including statements regarding our future business strategy, future products and technology development, market growth and technology adoption, financial growth, and plans and objectives for future operations, are forward-looking statements. Such forward-looking statements are inherently uncertain and necessarily involve risks that may affect MicroVision’s business prospects and performance, causing actual results to materially differ from those discussed during the presentation. Factors that could cause actual results to differ materially from those projected in the company’s forward-looking statements include the following: our ability to raise additional capital when needed; products incorporating our PicoP® technology may not achieve market acceptance, commercial partners may not perform under agreements as anticipated, we may be unsuccessful in identifying parties interested in paying any amounts or amounts we deem desirable for the purchase or license of IP assets, our or our customers’ failure to perform under open purchase orders; our financial and technical resources relative to those of our competitors; our ability to keep up with rapid technological change; government regulation of our technologies; our ability to enforce our intellectual property rights and protect our proprietary technologies; the ability to obtain additional contract awards; the timing of commercial product launches and delays in product development; the ability to achieve key technical milestones in key products; dependence on third parties to develop, manufacture, sell and market our products; potential product liability claims; and other risk factors identified from time to time in the company’s SEC reports, including the company’s Annual Report on Form 10-K for the year ended December 31, 2017. The forward-looking statements in this presentation speak only as of the date of this presentation, and, except as expressly required by the federal securities laws, MicroVision undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changes in circumstances or any other reason. © 2018 MICROVISION, INC. ALL RIGHTS RESERVED. 2
Global spending on A.I. Artificial systems world wide in 2018 is expected to be $19.1B USD intelligence and is expected to grow at is the product CAGR of 46.2% from 2016 to 2021 to reach $52.2B USD* MicroVision is enabling the Input / Output for Artificial Intelligence targeting 5 market verticals *IDC report Worldwide Semiannual Cognitive/Artificial Intelligence Systems © 2018 MICROVISION, INC. ALL RIGHTS RESERVED. Spending Guide, reported March 22 2018 in Business Wire 3
Consider A.I as a Brain… In the commercial world today that brain can: ▪ Listen & Speak ▪ Answer basic questions © 2018 MICROVISION, INC. ALL RIGHTS RESERVED. 4
What MicroVision is doing is providing that brain with the ability to Display Recognize touch Sense the space images and gestures that it is in with 3D clarity © 2018 MICROVISION, INC. ALL RIGHTS RESERVED. 5
© 2018 MICROVISION, INC. ALL RIGHTS RESERVED. 6
TARGETING 5 LARGE VERTICALS MARKETS IoT Products Why MVIS? Interactive Projection Our solution combines the advantages of our Consumer LiDAR display technology with interactivity (gesture Smart Home & Security and touch recognition) in a single form factor VR Content Generation at the size, power and cost required. Automotive LiDAR Active Collision Avoidance Amazon Echo has shipped 20M+ units1 HD mapping AR+MR Optical Engine for Binocular Headset Google Home sold Large Field of View / High Resolution 6.8M units in 2017 holiday season alone2 Display Only Products 1.Voicebot.AI October 12, 2017 2.Business Insider January 5, 2018 7
TARGETING 5 LARGE VERTICALS MARKETS IoT Products Why MVIS? Interactive Projection Our solution has a very high density point Consumer LiDAR cloud (targeting 20M points/sec), Machine Smart Home & Security Learning for object recognition and reduced VR Content Generation compute power/ latency, at the right size, power and cost. Automotive LiDAR Active Collision Avoidance HD mapping AR+MR Optical Engine for Binocular Headset 33% US homes will have Large Field of View / High Resolution a security system by 2022, annual market of $8B.1 Display Only Products 1.Statista.com April 2018 8
TARGETING 5 LARGE VERTICALS MARKETS IoT Products Why MVIS? Interactive Projection Our solution has a very high density point Consumer LiDAR cloud (targeting 20M points/sec), Machine Smart Home & Security Learning for object recognition and reduced VR Content Generation compute power providing lower latency, in a small form factor and low cost. Automotive LiDAR Active Collision Avoidance ~80M cars and HD mapping trucks sold annually world wide1 ~35K annual US AR+MR automobile fatalities, 2.3M injured or Optical Engine for Binocular Headset disabled costing Large Field of View / High Resolution $230B2 Display Only Products 1. CNBC.com January 2014 2. ASIRT.org 9
TARGETING 5 LARGE VERTICALS MARKETS IoT Products Why MVIS? Interactive Projection Our technology provides a high definition, Consumer LiDAR high frequency display, with a large field Smart Home & Security of view and low persistence at a small size, VR Content Generation weight and power consumption required Automotive LiDAR Active Collision Avoidance HD mapping AR/VR headsets AR+MR projected to grow from 10.3M units Optical Engine for Binocular Headset in 2016 to Large Field of View / High Resolution 75M by 20201 Display Only Products 1 IDC World Wide Quarterly Augmented and Virtual Reality Headset Tracker, December 15, 2016 10
TARGETING 5 LARGE VERTICALS MARKETS IoT Products What? Interactive Projection DISPLAY LICENSE AGREEMENT Consumer LiDAR 5-yr. worldwide exclusive agreement for Smart Home & Security the manufacture and sales of Display VR Content Generation Only products. Automotive LiDAR Four basic elements to the agreement: Active Collision Avoidance HD mapping 1. $10M license fee paid in 2 installments- $5M in Q2 and $5M in Oct AR+MR 2. Expected NRE of $3M - $4M in 2018 Optical Engine for Binocular Headset 3. Purchase of Components from MVIS- Large Field of View / High Resolution ASICs and MEMS 4. Minimum Purchase requirements to Display Only maintain exclusivity Products 11
TARGETING 5 LARGE VERTICALS MARKETS IoT Products Why this licensee? Why now? Interactive Projection DISPLAY LICENSE AGREEMENT Consumer LiDAR Smart Home & Security VR Content Generation ▪ Shared Go to Market strategy targeting tier 1 customers Automotive LiDAR Active Collision Avoidance HD mapping ▪ Right attributes to be successful AR+MR ▪ Volume component purchases Optical Engine for Binocular Headset will drive cost reductions Large Field of View / High Resolution throughout the supply chain Display Only Products 12
WHAT OTHERS ARE SAYING Consumer LiDAR Facebook Announces Spaces, VR Hangout App, For Oculus Rift F8 Conference See F8 announcement by Rachel Rubin Franklin © 2018 MICROVISION, INC. ALL RIGHTS RESERVED. 13
WHAT OTHERS ARE SAYING Consumer LiDAR Amazon buys smart doorbell maker Ring for a reported $1 billion to expand it’s home security and in home delivery service. See Amazon acquisition of Ring © 2018 MICROVISION, INC. ALL RIGHTS RESERVED. 14
WHAT OTHERS ARE SAYING Smart Speakers/ Interactive Display Google I/O Promotes Smart Speakers Key take away: Display has a place in smart speakers, making it easier for the user to interact with the Virtual Digital Assistance (VDA) See Google I/O demo © 2018 MICROVISION, INC. ALL RIGHTS RESERVED. 15
WHAT OTHERS ARE SAYING Amazon Echo Spot review Key take away: There is a range of solutions but more/bigger display real-estate is not desirable. See Amazon spot © 2018 MICROVISION, INC. ALL RIGHTS RESERVED. 16
Core System IP Innovative developer of Developed and continuously matured PicoP® scanning technology Embedded Software Embedded MEMS and Laser Control. Over 500 patents issued Best in class Firmware. Machine Learning. and pending Custom ASIC + MEMS Enables unique applications NASDAQ: MVIS Custom Hardware Allows MVIS to develop unique solutions that are difficult to replicate Advanced Manufacturing Allows us to compete with fabless and CM models © 2018 MICROVISION, INC. ALL RIGHTS RESERVED. 17
MicroVision’s LBS scanning technology produces a large How Our PicoP® screen viewing experience. Scanning It is always in focus Technology Works A single MEMS and in HD. for Displays scanning mirror Red laser in an extremely tiny, 2D MEMS low power engine Micro mirror Blue laser Green laser © 2018 MICROVISION, INC. ALL RIGHTS RESERVED. 18
How Our PicoP® Scanning Technology Works for Displays © 2018 MICROVISION, INC. ALL RIGHTS RESERVED. 19 © 2018 MICROVISION, INC. ALL RIGHTS RESERVED.
How Our PicoP® Scanning Technology Works for Displays © 2018 MICROVISION, INC. ALL RIGHTS RESERVED. 20 © 2018 MICROVISION, INC. ALL RIGHTS RESERVED.
How Our PicoP® Scanning Technology Works for Displays © 2018 MICROVISION, INC. ALL RIGHTS RESERVED. 21 © 2018 MICROVISION, INC. ALL RIGHTS RESERVED.
How Our PicoP® Scanning Technology Works for Displays © 2018 MICROVISION, INC. ALL RIGHTS RESERVED. 22 © 2018 MICROVISION, INC. ALL RIGHTS RESERVED.
How Our Pico How Our PicoP® ® Scanning Scanning Technology TechnologyWorks Works for forDisplays Displays MicroVision’s LBS scanning technology produces a large screen viewing experience. It is always in focus and in HD 2D MEMS Red laser Micro mirror Blue laser Green laser 23 MICROVISION, INC. © 2018 MICROVISION, INC. ALL RIGHTS RESERVED. COPYRIGHT 2018. ALL RIGHTS RESERVED.
How Our LiDAR X,Y location of object known because of knowledge of MEMS Technology Works pointing angle. for Interactivity Z determined by Time-of-Flight IR Photodiode 2D MEMS Micro mirror Red laser Green laser IR laser Blue laser © 2018 MICROVISION, INC. ALL RIGHTS RESERVED. 24
From Possibility to Probability of 2019 Revenue PRODUCT QUALITY COST CUSTOMER PRODUCT 2019 REVENUE OR FEATURES OR MARKET TIMING POTENTIAL* AR / MR ✓ ✓ Volume 2020 - 2021 $’s + NRE Display ✓ ✓ ✓ $$$’s Consumer LiDAR ✓ ✓ ✓ $$’s Interactive Display ✓ ✓ ✓ $$$$’s Automotive LiDAR ✓ ✓ Volume 2020 - 2021 $’s + NRE The vast majority of our MVIS technology is common across the platforms and already developed…we are now customizing the solution for each end market application © 2018 MICROVISION, INC. ALL RIGHTS RESERVED. *$’s are intended to be directional and not scaled 25
Integrated MEMS Based Hardware and Software Solutions for our Customers Integrated Software and Exclusive Development License Modules Engineering Services Hardware Module Sale of Modules and Components to OEM + ODM for Reference design Primary revenue Develop and launch License specific Hardware, software path, productizing custom MEMS, ASIC modules for mass and advanced our technology with and integrated market launch manufacturing services, development of new modules for customers to support launch of MEMS based module licensed modules for our customers. Direct B2B sales and marketing activities © 2018 MICROVISION, INC. ALL RIGHTS RESERVED. 26
Company Highlights ▪ Addressing large ▪ Experienced ▪ Innovative emerging market management developer of Laser opportunities: team Beam Scanning (LBS) technology IoT Consumer LiDAR ▪ Strong Automotive LiDAR intellectual AR/MR property © 2018 MICROVISION, INC. ALL RIGHTS RESERVED. 27
Bringing IO to AI © 2016 MICROVISION, INC. ALL RIGHTS RESERVED. PICOP IS A REGISTERED TRADEMARK OF MICROVISION, INC. ALL OTHER TRADEMARKS ARE THE PROPERTY OF THEIR RESPECTIVE OWNERS.
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