5 Best Augmented Reality Penny Stocks to Buy

3. MicroVision, Inc. (NASDAQ:MVIS)

Stock Upside: 259.20%

Stock Price: $0.56

Number of Hedge Fund Holders: 6

MicroVision, Inc. (NASDAQ:MVIS) is one of the best augmented reality penny stocks to buy. On May 13, MicroVision, Inc. (NASDAQ:MVIS) reported its Q1 2026 financial results, where revenue came in at $0.9 million, a 50% year over year increase.

CEO Glen DeVos noted that the revenue growth was powered almost entirely by the Luminar lidar asset acquisition. The company completed the acquisition in February for $33.2 million. As per DeVos, 75% of Q1 revenue came from sensors inherited through that deal.

The company reported a net loss of $0.08 per share, which was wider than the $0.040 loss that analysts expected. Management attributed this to a significant cost restructuring that included cutting the global workforce by roughly 15% and consolidating all operations into a single Orlando facility.

Gross margin for the quarter jumped to 39% from just 7% in Q1 2025. Steve Hrynewich, the interim CFO, noted that this massive improvement reflects better product mix from the acquired Luminar sensor inventory and early benefits of the integration. Hrynewich added that, however, cash used in operations plus capital expenditures rose to $16.6 million, a $2.4 million increase from Q1 2025. The interim CFO attributed this increase to the fact that the company absorbed integration costs from both the Luminar and Scantinel acquisitions.

On guidance, management reaffirmed its full-year 2026 revenue target of $10 million to $15 million. They expect the bulk of that revenue in the second half of the year as commercial traction with customers accelerates post-acquisition. Management also lifted its gross margin guidance to 35%-40% for the rest of 2026, citing favorable supply chain renegotiations and a better sales mix from sensor products.

MicroVision, Inc. (NASDAQ:MVIS) is an automotive lidar company that also develops augmented reality-related sensing technology. Its key products include MEMS-based laser beam scanning technology, lidar sensors, and micro display solutions used in advanced driver-assistance systems, autonomous vehicles, and AR/VR devices.