Shares of MicroVision (NASDAQ:MVIS) have skyrocketed today, up by 17% as of 12:50 p.m. EST, after the company reported fourth-quarter results. MicroVision continues its march toward commercializing its technology and generating product revenue.

MicroVision recognized $395,000 in licensing and royalty revenue in the fourth quarter, and incurred nearly $4 million in operating expenses. That resulted in an operating and net loss of approximately $3.6 million, or $0.02 per share. The company, which is developing lidar sensors for the automotive industry, has been making progress toward commercialization in recent months, achieving various milestones related to partnerships with customers.

"Over the past year we have made important progress advancing our automotive LiDAR development, bolstering our balance sheet, building the strength of our team, and adding expertise to our Board of Directors while exploring strategic alternatives," CEO Sumit Sharma said in a statement. "I expect that the A-Sample hardware and benchmarked data, for demonstration to interested parties, will be available in the April 2021 timeframe."

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