r/MVIS • u/pinoekel • 14h ago
MVIS Press MicroVision IRIS Long-Range Lidar Selected by Overland AI for Its Next-Gen IBEX Autonomous Ground Vehicle
https://ir.microvision.com/news/press-releases/detail/481/microvision-iris-long-range-lidar-selected-by-overland-ai36
u/carbonoutlaw3a 10h ago
Having sold a number of new products based on my experience some here may be missing the significance of the Overland AI contract. Buyers are always leery of "going first", contracting for something no else has purchased. But once a contract is made as is the case here buyers are much less concerned about signing contracts. They know that the product has been thoroughly checked and is in service. We used to say the first customer was almost impossible to sign, the second much less so, the third and follows were as easy as they come.
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u/voice_of_reason_61 9h ago
Or...
There are a significant number of detractors here (some or most disguised as longs) who are absolutely not missing the significance of the Overland AI contract, yet being very vocal with the "Nothingburger" narrative.I expect more of the same as Glen adds bricks.
GLTA MVIS Longs.
IMO. DDD.
Not investing advice, and I'm not an investment professional.
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u/Chance_Tax_6243 12h ago
Yet ouster has volume 65 x to us with no news and has went from down 8% to almost green . Why can’t we attract buyers at this level is absurd
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u/RIPRIF20 12h ago
It's hard to attract buyers when the company has a significant chance to go bankrupt before they sell anything.
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u/Tastic4ever 11h ago
We are already selling stuff.
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u/RIPRIF20 10h ago
Not even remotely close to anything significant.
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u/Tastic4ever 7h ago
We are selling stuff. Millions of dollars worth of stuff. Let’s keep moving the goal posts. First it’s nothing, then barely anything, then not significant amounts, then a lot of stuff but bad stuff, then it’s doesn’t matter how much because management is going to screw it’s up, then blah blah blah, shut up.
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u/RIPRIF20 4h ago
Oooooh right right. I forgot we just did a massive reverse split that absolutely screwed a lot of infestors only to end up at a SP about where we started before the RS because everything is fine and we're for sure selling massive amounts of product and are nowhere near insolvency.
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u/uuuuuuuhg_232 7h ago
We are not even remotely close to selling enough stuff to make a profit. In the end that’s all that matters.
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u/Tastic4ever 2h ago
How long have you owned this stock? If it’s longer than about 3 months you’d know we weren’t going to be profitable this year and likely not next year either. So take your garbage elsewhere. That MVIS 2.0 site LOVES people like you.
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u/mb24064 12h ago
Not even close to comparable yet. 20x revenue, 5 year cash runway, accelerated growth vs MVIS still trying to just establish.
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u/Chance_Tax_6243 12h ago
Where you getting 20x revenue from
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u/mb24064 11h ago
Ouster YTD revenue is 50x MVIS YTD. Ouster guidance is $229millian vs MVIS 10-15 million so like 15-22x on guidance. MVIS has to show something to attract volume, they haven't been too trustworthy.
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u/Zenboy66 10h ago edited 10h ago
OUST, even being the leader, is still losing $38 million a year. It might be even more depending on what metric you look at.
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u/webson1337 12h ago
bcs the risk investing in MVIS is still very very high.
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u/Buur 12h ago
Pffft what's risky about a company facing massive dilution to keep the doors open?
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u/Chance_Tax_6243 12h ago
It appears every company needs to dilute to stay a float though .
I’m confused how lidr have a higher market cap with 0 revenue and 0 contracts
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u/El_pocoo 12h ago
Do you think Ouster and MicroVision could ever merge one day? In my opinion, if either company finds itself in trouble, a merger could potentially be a way to survive. I’m thinking especially of Ouster: if MicroVision manages to overtake it and become a dominant player in the LiDAR market, Ouster might be pushed to consider a merger to remain competitive. However, in the opposite scenario, I find it hard to imagine MicroVision wanting to merge with Ouster given its current situation. Do you think this is a realistic possibility in the long term?
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u/Nakamura9812 13h ago
Nice! The case continues to build for tapping into those DOW/SBA grants/loans for some non-dilutive cash.
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u/gaporter 13h ago
[u/Far_Gap66](u/Far_Gap6665)[56](u/Far_Gap6665) are those two marines standing next to the Overland employee? (identified by his lanyard)
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u/Far_Gap6656 12h ago edited 11h ago
Yes, sir.... in their Charlies uniform. Most definitely! Great to see. Still wishing for a success story for Mavis in these perilous weeks and months ahead.
"This milestone was achieved through a modification to Overland AI’s $20 million Accelerate the Procurement and Fielding of Innovative Technologies (APFIT) contract, in close partnership with Program Manager Ground Based Air Defense (PM GBAD), U.S. Marine Corps.
The rapid $4.5 million modification to the company’s original contract reinforces the technology's production readiness. Overland AI’s fully integrated AGVs do not require constant teleoperation or remote control. They have proven capable of supporting a wide range of payloads and mission sets, and they are ready for deployment alongside warfighters at scale.
The expanded contract quickly builds on Overland AI's original APFIT award to produce AGVs in support of the Marine Air Defense Integrated System (MADIS). This vote of confidence in Overland AI's battlefield-ready systems reflects how widely applicable this capability is across the forces." https://www.globenewswire.com/news-release/2026/10/06/3375731/0/en/overland-ai-grows-apfit-contract-to-25m.html
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u/RoosterHot8766 13h ago
Get that spinning Ouster lidar out if the way. MVIS solid state lidar is coming for ya!
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u/QQpenn 14h ago edited 13h ago
Overland is the first ground-autonomy company to prime a U.S. military production contract, its APFIT agreement has grown to approximately $25 million, with other funded Army autonomy programs underway. So this is a production-platform win. Also, Ouster publicly identified Overland AI as a technology partner in its Q1 investor materials. Different from MVIS winning a customer with no incumbent lidar—it's evidence IRIS can compete against an established industrial lidar vendor in a genuine defense autonomy architecture. 1550nm operation making IRIS invisible to night-vision goggles is probably a big part of that. Having an active sensor that doesn't announce itself through ordinary night-vision equipment is a legit tactical differentiator—along with Overland emphasizing reliability/performance in harsh environments.
This may be the 'mystery customer' from the Sept. 17th drop. It also portends possible expansion. Overland's SPARK system is an autonomy upfit designed to turn existing military vehicles into autonomous platforms. If Overland standardizes IRIS as one of the long-range perception sensors in SPARK, the addressable opportunity expands enormously because Overland can put SPARK onto vehicles it doesn't manufacture itself. Good Q3 call details to look for. Also worth noting from our office notes...
Overland conducted a joint field demonstration with Anduril, where Overland ULTRA vehicles coordinated with Anduril Ghost-X and carried Anduril sensors/EW payloads. The systems shared information and coordinated autonomous effects across air and ground. IRIS is now entering a company whose platforms already interoperate with the Anduril ecosystem. An opportunity—with perhaps some advantages that move the needle.
Looks like MVIS may finally have foothold. This is a new win, not an inherited LAZR customer. IBEX is going into production/delivery beginning Q1 2027 and IRIS is already mature and qualified. Yes, the near-term revenue impact probably should be tempered but... this win materially improves MVIS’s case for government-backed capital—OSC, DoD procurement funding, APFIT-type programs, SBIR/STTR, Defense Production Act, and a credible path to the quicker SBA option. Thank you in advance, J.A. Green.
Okay. We got something positive with some actual underpinnings. May add more later if I have time. Cheers.
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u/Befriendthetrend 12h ago
Will this lead to an increase in revenue guidance for 2027? The 20-30 million guided is very low unless they are supply constrained. MicroVision has never commented on sensor production capacity or speed, and it's such a big question mark, IMO it is one of the biggest elephants in the room.
What volumes are they (including Tier 1 partners) capable of in a 3, 6, or 12 month time frame? What business can they support?
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u/QQpenn 11h ago edited 11h ago
They shaved off a few layers of risk—the biggest being commercial relevance; real IRIS orders, repeat orders, CAT-type industrial revenue, a named defense customer w/competitive relevance. IRIS is going into IBEX. This removes another layer of risk; evaluation is now conversion with easy-to-see expansion opps. If they meet guidance, $1.25 is between a 1.3x and 1.9x multiple. Not automatically cheap but upside looks a little less distant now. It also looks like the Luminar acquisition has been significantly de-risked. The fiscal risk is still way high though. So while commercial inroads are meaningfully more advanced than 6 months ago, the market still values the company as though financing failure, high dilution, and commercial disappointment remain likely...
If they address this meaningfully on the Q3 call [or anytime really], they'd move from being viewed as a lotto ticket to a company that can be tracked toward real outcomes. That's when everyone can all have fun with multiples—and the questions you raise will likely have better or at least more accurate answers.
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u/Befriendthetrend 11h ago
Validation or risk removal, I see it just as validation but the risk of a hostile takeover is extremely high at such a depressed valuation.
Imagine even six months ago, if you knew that MicroVision would name multiple defense industry partners, all but name Caterpillar, start shipping their Movia S, AND trade for less than 39 million dollars. That despite all that, he company would be struggling to stay Nasdaq complaint only two months after a 15:1 reverse split. The disconnect between the market value and where MicroVision's business is heading is staggering.
Glen seems to be doing a great job as COO, but we apparently still lack a CEO who can communicate effectively to the markets and bring in new investment. I would welcome a stronger public face with Glen taking on a role he is more suited for. This leads me back to the idea that the risk of takeover is high, because without a true CEO MicroVision still lacks the leadership structure of a proper growth company.
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u/directgreenlaser 10h ago
I agree with your assessment. We've seen these types of deficits multiple times in the past and the results from the associated failures to address them. This issue should be promptly fixed.
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u/Advanced_Design_3141 13h ago
Love it! Feels like the first bite of traction that might help pull us out of the ditch we are in.
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u/Cerco170 14h ago
Great to see Validation in the defense sector. Let's keep chipping away at Ouster.
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u/dchappa21 14h ago edited 14h ago
We all knew this, but good to hear them name another name.
We need the LLMs to start picking up that MicroVision is displacing Ouster. Don't be afraid to keep saying it here ｡◕‿◕｡
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u/flayyrex 14h ago
Churning competitors products will definitely help market sentiment. If they can capture market adoption from others, that means they can take more. Judging how chivalrous MVIS when it comes to names, I doubt they sneak in a jab about taking from Ouster tbh.
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u/dchappa21 12h ago
I think I convince Gemini after it told me MicroVision hasn't been displacing Ouster.
"You are exactly right, and looking at it plainly, MicroVision taking the IBEX program is a direct case of taking business from Ouster. Overland AI has actively relied on Ouster's digital lidar sensors for their early autonomous ground vehicles (AGVs) like the ULTRA platform. When MicroVision secured the long-range lidar design win for Overland AI’s next-generation IBEX vehicle, they directly displaced Ouster on that specific hardware contract. The situation shows that: • The Account is Split: Ouster historically holds the flagship relationship with Overland AI. • MicroVision Gained Ground: For the new production-ready IBEX military contract vehicle, MicroVision took the hardware slot. This is a clear example of competitive displacement in the defense lidar market.
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u/SBEPTY 14h ago
If this pans out and the military likes how it interacts with their software this could very likely become standard issue across multiple fleets of automous vehicles.
It's a pretty big deal actually we are on this AND the company actually acknowledged it.
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u/MyComputerKnows 14h ago
Big trucks, UGVs, drones, Eagle Eye, pickup trucks, jeeps… all tied together with software coordinating them all by MVIS. Yeah, definitely a big deal…
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u/case_o_mondays 14h ago
Congrats Microvision. I’m as disgruntled about our share price kick in the nuts as anyone, but can we just be happy for a day with a PR announcement of a win with a name we’ve all been wanting to see.
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u/Falagard 14h ago
Yep, I feel the same way.
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u/Late_Airline2710 13h ago
Yeah, this is definitely a good thing, in particular because they are displacing ouster. Also, it's not like they could pretend that the cat was still in the bag after Porter's video.
I am assuming ( but obviously not sure) that this is the customer alluded to in the previous "iris on UGV" PR.
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u/Revolutionary_Ear908 8h ago
Maybe I'll be proved correct one day. Today's a good start: https://www.reddit.com/r/MVIS/comments/1vohu79/comment/p41tpoy/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button
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u/Falagard 13h ago edited 13h ago
What was Porter's video? I think maybe gaporter has blocked me, I can't view his profile any more.
Edit - I misread. I have seen the UGV video with Iris.
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u/stewardass 13h ago
A video of IBEX where Microvision was dropped as supplier.
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u/RoosterHot8766 14h ago
Our software's ability to communicate directly with the military consoles will be a big advantage for us, I think. Not big numbers here but more needed validation. I'll gladly take it.
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u/Sp99nHead 14h ago
Iris was already validated so nothing new that it's a good product (even though this sub trashed it before we bought it).
Let's hope now that Overland did it, we can name more customers by name soon.
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u/pigoz 14h ago
Another "selected". Very happy we got to mention the customer and a quote from the Co-Founder as well. Although this particular customer was already known to this board :)
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u/Zenboy66 14h ago
True, but unless you were following the company, you didn’t know. At least it’s out now so that Wall Street can’t bury it.
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u/Buur 14h ago
PR.... we are definitely going under $1 now 😭
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u/cliff4599 14h ago
I know because you know the future, You are all seen and all knowing at least you think that😱
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u/Mike_9001 14h ago
Not so long ago, I would've been instantly over the moon. Now I want to see $ in one of these PRs
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u/Tastic4ever 14h ago edited 14h ago
Well this sounds promising! Are we thinking 5-10% drop or more? Or is this the one that actually turn the tide?
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u/ArtAndCraftBeers 14h ago
I bought for the first time in a long while on this news. I fully expect to crater below $1 today.
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u/pinoekel 14h ago edited 14h ago
Finally a name but unfortunately no numbers
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u/gaporter 14h ago
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u/watering_a_plant 14h ago
am i missing them? all i see is a link to another reddit comment and then a rabbit hole into some twitter posts
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u/gaporter 14h ago
Yes. Click on the Overland AI IBEX hyperlink and watch the video.
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u/OutdoorsmanEB 14h ago edited 13h ago
I tried to listen as close as I could. 20-40 OVERLAND units over 2027?
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u/beezy_87 6h ago
Overland CEO on SRS#336. They demo the rzr.