Philips recently announced the PicoPix Max, a premium and relatively large but still portable Android-powered pico projector that features a Full-HD native image, 800 lumens and a battery life of up to 3 hours. Our friend Charbax posted a nice video showing a prototype device, and Philips says on the video that it already sold over 5,000 such projects on IndieGogo!
Microvision that it has closed a public offering of 14.4 million shares for gross proceeds of approximately $18 million (Microvision will receive about $16.6 million).
Ladenburg Thalmann acted as sole book-running manager and representative of the underwriters of the offering.
Microvision announced its financial and operating results for Q3 2017. Revenues were $6.1 million (and up from $4 million in Q3 2016), whih is Microvision's highest ever. Operating loss was $5.2 million (up from $4.1 million in Q3 2016) and the net loss was $5.2 million as well.
Cash used in operatings during the quarter was $5.7 million (up from $3.8 million in Q3 2016). As of September 30, 2017 backlog was $15.8 million and cash and cash equivalents were $25.3 million. Given time to market adjustment of the interactive display engine, Microvision anticipates to be at the lower end of its revenue guidance of $30 million to $60 million by January 2019.