MicroVision, Inc.

And good afternoon, ladies and gentlemen, and thank you for your patience. Your conference will begin shortly. And once again, thank you for your patience. Your conference will begin shortly. Thank you. Thank you. Good afternoon, and welcome to the Microvision First Quarter 2026 Financial and Operating Results Conference Call. At this time, all participants are placed on a listen-only mode. At the end of management's remarks, there will be a question-and-answer session. Investors can submit their questions within the meeting webcast by typing them into the Q&A button on the left side of their viewing screen. Analysts who publish research may ask questions on the phone line. For analysts to ask a question on the phone line, please press star 1 on your phone. Please note this event is being recorded. I would now like to turn the conference over to Drew Markham. Please go ahead.

Thank you, Matthew. Good afternoon, everyone. I am here today with our Chief Executive Officer, Glenn DeVos, and our Interim Chief Financial Officer, Steve Hernovich. Following our prepared remarks, we will open the call to questions. Please note that some of the information you will hear today will include forward-looking statements including, but not limited to, strategic plans, acquisition benefits and integration synergies, expectations regarding customer engagement and product deliveries, go-to-market strategies, product performance and pricing, market landscape and opportunities, cash flow forecast, liquidity and the impacts of recent financing activities, availability of funds and access to capital, expected revenue, operating expenses, and cash balances, 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. We encourage you to review our SEC filings, including our most recently filed annual report on Form 10-K and quarterly report 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. 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 financial data presented on this call, please refer to the information included in our press release and in our Form 8K, 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. Now, I would like to turn the call over to Glenn DeVos, our CEO. Glenn?

Thanks, Drew. Last quarter, we introduced our vision for what we call LIDAR 2.0, and we outlined how the new microvision was being built to lead this next era of the LIDAR industry. Today, I want to provide you with an update. In short, our strategy is working. Over the first quarter, we made significant progress integrating these technologies, teams, operations, and customer relationships acquired through Luminar and Scantino. What we have today is one microvision organization. At the same time, we have successfully restarted key Luminar commercial programs. We've resumed shipments across multiple customer engagements, continued receiving repeat orders from existing customers, and expanded work with prospective customers across industrial, security and defense, and automotive applications, our three key end markets. Importantly, this progress gives us increased confidence in both the operational direction of the company and the commercial opportunities that lie ahead of us through the balance of 2026. First quarter revenue represents the start of commercial traction. We believe that our operational foundation work completed during Q1 now positions Microvision for accelerating momentum as we move through the year. That is the message I want you to take away from today's call. The new Microvision is operationally integrated, accelerating our commercial traction, and executing against the LIDAR 2.0 strategy we laid out last quarter. Before I go deeper into our progress, I want to briefly touch on why we continue to believe this transition to LIDAR 2.0 is so important. As I shared in our last earnings call, LIDAR 1.0 is primarily defined by a technology-first mindset. Companies competed to build the most impressive standalone sensor often without fully considering the economics, capability, or operational realities key to broad deployment. But increasingly, customers are telling us something very different. Whether we're speaking with mining equipment manufacturers, industrial automation companies, defense integrators, or automotive OEMs, the conversation is not centered on sensor performance alone, but on the criteria that will drive value for their businesses First, lower cost is central to enabling scaling deployments. Second, they're looking for mature, proven solutions they can depend on for reliability and secure production launches. And three, solutions must be easily integrated into their system architectures. Customers want the right performance for the right application. They want solutions they can easily integrate into complete perception and control systems. They want flexibility through open software architectures. And they want products that are designed with cost and scalability in mind from day one. And that's what letter 2.0 is all about. We believe the industry is now evolving to the areas where microvision is strongest. Portfolio breadth, we now have the broadest technology portfolio in our industry. Design to cost engineering, it's not complicated. Cost drives mass adoption. Open software framework giving our customers flexibility and control of their software and systems. And finally, disciplined execution across all aspects of the business. Today, as I stated earlier, the new Microvision has the most comprehensive product portfolio in our industry. And this enables us to win in our three key market segments. Our MOVIA family of products provide compact, solid-state, short-range sensing for industrial security and defense and automotive applications. IRIS and HALO expand our capability into long-range detection based on real-world production for automotive and industrial programs. And Scantonella's FMCW platform gives us ultra-long-range sensing capabilities for automotive and security and defense. With our Mosaic and Sentinel software platforms, we now offer a complete perception stack and development environment from silicon to point cloud to perception software, all built around MicroVision's open software framework that enables our customers to seamlessly integrate and build differentiated capabilities on top of our platforms. Now, just as important as integrating our product portfolio, we now have one unified engineering and product organization bringing these technologies together. Over the last quarter, we have completed much of the work of integrating Illuminar and Scantinal assets and teams into the new microvision. This includes aligning engineering organizations, integrating product roadmaps, consolidating operation functions, and continuing the transition of engineering ops and manufacturing into our Orlando facility. Today, there is one Microvision team executing on one unified strategy. And the benefits of that integration are now showing up in the business. From a commercial standpoint, one of our highest priorities following the Luminar acquisition was stabilizing existing customer programs and reestablishing commercial continuity. I'm pleased to share that we have made significant progress on that front. Let me touch on key developments for each of our three end markets. For industrial, we've restarted shipments and active programs with customers in mining, off-road logistics, and warehouse automation. As I have talked about previously, the industrial market has started a significant transformation from high-cost electromechanical systems to compact and cost-effective solid-state sensors. Our Movia sensor product line is leading this transformation. Customer feedback of our Movia S has been incredibly positive, and we are on schedule for a planned production launch later this year. In security and defense, we now have active engagements focused on drone-based LIDAR perception, aviation, traffic management, and unmanned ground vehicles, or UGBs. In March, we shared how our Muvia Air products can extend the perception of surface vehicles with our ability to compute real-time maps and supporting terrain analytics for navigability. This real-time processing on the edge or in the drone is an industry first and is only possible with our lightweight, compact, and low-power Muvia Air sensors. And it's a major advancement for drone-based ISR capabilities. Additionally, we have just announced our collaboration with Avular on a fully integrated payload to further expand our capability and access to markets for drones. We cannot be more excited about the opportunities in this space and working with the Avular team. And finally, for automotive, we continue to actively engage with the passenger car OEMs as they define their next gen level three and four system architectures. While this is a key market for us, we recognize that this market will take time to develop. And until sensor costs are significantly reduced, we will only see limited deployments and adoption. As such, we remain focused on our tri-LiDAR architecture as a key enabler of expanding LiDAR perception performance while significantly reducing total system costs. We recently demonstrated the first integration of HALO with MUVIA-S and a full 360-degree perception system at the ACT Convention in Las Vegas. There was strong interest in our Tridelight architecture with planned follow-up with key CV for commercial vehicle and autonomous trucking companies. I couldn't be more excited about what came out of that. Additionally, Movia S, with its wide field of view, is a perfect sensor for robo-taxi and urban autonomy applications where near-field detection of obstacles and vulnerable road users is so critical. As a compact solid state sensor, it offers that right performance, but at a much lower cost than today's electromechanical LiDAR. This is why our portfolio expansion was so important for Microvision. We have the ability to bring the right solution at the right cost to each of these end markets. These opportunities also benefit from Microvision's ability to be a one-stop shop for our customers' full LiDAR perception needs. And it's exciting to see how these conversations are shifting from technology evaluation to operational deployment. Another important development during the quarter was the continued strengthening of our leadership team. Executives like Julia Imlauer driving AI strategy, Phil Belomo leading product engineering, Helman Ramovich leading our program management office, and Fabio Laura leading our operations and manufacturing center, in Orlando continue to bring deep operational and execution expertise to our organization. This operational discipline matters because the next chapter of LiDAR isn't simply about having a great technology. It's about delivering solutions reliably, economically, and at scale. And that's what we're building the new Microvision to do. Before I turn things over to Steve, I want to briefly touch on our outlook for the balance of 2026. Q1 represents the start of our commercial traction as we focus on integration and operational consolidation, stabilizing those customer programs and transitioning of POs and restarting commercial execution. As we move through the remainder of the year, we expect the operational progress achieved in Q1 to increasingly translate into commercial and financial momentum. And based on this progress that we've made this quarter, we have increased confidence in our outlet for the balance of 26. I'll now turn the call over to Steve to review our first quarter financial performance. Steve?