Thank you, everyone. afternoon, Good Sumit.
of for second, on $XXX,XXX to and $X.X two For balance we the contract components of fourth of built recognized quarter, revenue. the from Ragentek. XXXX revenue came product revenue $X.X The revenue license was product the shipment $X.X customer, first, our engines and sources: revenue April approximately we from revenue, from million, projection the million of $XXX,XXX million with came
of for the quarter we million, in revenue, royalty revenue from $X.X contract $X.X balance revenue. sales. in resulting gross revenue million $XXX,XXX a and Revenue gross and revenue of profit in of profit million profit had cost to $XXX,XXX $X contract was in million of $X.X gross $X.X million. quarter the on $X.X our product comparison, which XXXX and was was QX. royalties. In in In last units, of in on with in shipped of and about revenue recognized Fourth we in $X.X and $XX,XXX the revenue, components million million, product $XXX,XXX profit X% customer April a XXXX, The $XXX,XXX negative Ragentek we profit had comparison, or was had gross contracts royalties. zero from revenue, gross cost
$XX,XXX XXXX profit from from Fourth $XXX,XXX, revenue, negative million million operating royalties, $X.X $X.X Gross expenses and revenue. were product was quarter from million. for contract $X.X
for estimated paying were though XXXX executive quarters year. are accrued the bonuses in management We of first the not bonuses three or
lower in being $X.X the QX as of result in those So is reversed $XXX,XXX accruals a million QX. OpEx of
were third operating quarter. For expenses the reference, in million $X.X
operating full-year, the were $XX.X expenses million. For
This quarter. XXXX’s last For the was million $X.XX share. was $X.X per share loss or loss loss a to of per million our compares net share. fourth net or quarter, $X.XX or per $XX.X million $X.X $X.XX
million. used ended million. We quarter, compares For in $X.X fourth the cash prior equivalents and which total quarter used $X.X million, cash cash the in cash operations with of quarter fourth of the was $X.X to
we about in quarter we $X.X the April During raised facility Capital additional Lincoln $X Park second established the facility also in from from of Lincoln raised a Park million established XXXX, December. million and we we an
XXXX Now I’d discuss to like contract. April the
manufacturing our product production teams want who took advanced job. I engineering outstanding First, acknowledge to did this to an and and
and above excellent was quality our were gate. out of Our the XX%, yields almost
really is The quarter of has gross teams smooth. process. a and low delivered function product the that fourth on a well very manufacturing Our our The margin manufacturing fact X% stable was performed in the volumes. this been
received had was million to revenue gross during we next XX be volume we sufficient are and over million $X.X the in another backlog low the not quarter. the The orders and several our this for $X.X Obviously, first expenses. to operating quarters. $X.X totals December million delivered That and support contract have at associated profit
the the customer’s the product that working discussions help structure would to production and we a shipped. each cost capital, us gross The and on customer This as be dollars product the lower are in profit royalty volumes transferring component the the maintains now. about reduce experiences, exploring event accepting but future. are we on it The same higher royalty upside our the ongoing. So for would earn in
That compliance. Now granted month I’d we until regain NASDAQ to seek before has like six $X June the exemption to X minimum to bid was turn price late compliance. request appeared a requirement. company to NASDAQ to and January, the In
a reverse shareholder affected. will the the Annual the determined split reverse the regain be by our reverse percentage the before for a directors ownership to Shareholder Meeting. completed, provision each proxy If stock stock is compliance, in a stock board price a the at for on the expect compliance our a split split XX stock of If of regained May based of not effect, is Shareholder not that company Annual Meeting. if we ratio We take reverse have would we have split stock to need time
Lunar virus delay the has our Now restart a coronavirus. to turn I’d the at to like the did slower employees manufacturer. by week contract to due The after production fewer New and Year, production been
at impact production the quantify the accurately Work time. and depending working amount production, As employees an Redmond, and to clear our – we they’re this tasks both increase. from quaranteine, there the our that expect at get we possibly of have working We office to timely home manner. is at headquarters, cannot but do QX a to in on. At seen be Washington QX, headquarters continuing are employees on impact done
Also, we the attend usual virtual due meeting decided to the hold on Information our shareholder virus, virtual a meeting, to annual in in-person and proxy. be meeting. not how our shareholder will to have
finally, last I’ve note X.X I’d to to like I years, and challenges with working the the to that for Sumit and working a success. address forward And making enjoyed MicroVision with looking ahead him am
call comments I open a for the questions. to will turn back we the over before Sumit now to call few
