Company: MVIS
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001641172-25-022632
Chunk: 34

Company: MICROVISION, INC.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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     (117) 
     (112)
  
    Property
    and equipment, net 
    $37  
    $- 

    Weighted Average Remaining Lease Term 

    Operating leases 
     6.2
                                            years   
     6.8
                                            years  
  
    Finance leases 
     3.7
                                            years   
     n/a

    Weighted Average Discount Rate 

    Operating leases 
     4.9% 
     4.9%
  
    Finance leases 
     5.5% 
     n/a

As
of June 30, 2025, maturities of lease liabilities are as follows:

 SCHEDULE OF MATURITIES OF LEASE LIABILITIES

    (in thousands) 
    Operating  
    Finance 
  
    Years Ended December 31, 
    Leases  
    Leases 
  
    2025 (remainder of year) 
    $1,796  
    $7 
  
    2026 
     3,485  
     14 
  
    2027 
     3,498  
     14 
  
    2028 
     3,470  
     7 
  
    2029 
     3,250  
     5 
  
    Thereafter 
     5,716  
     - 
  
    Total minimum lease payments 
     21,215  
     47 
  
    Less: amount representing
    interest 
     (2,567) 
     (4)
  
    Present value of capital
    lease liabilities 
    $18,648  
    $43 

11.
COMMITMENTS AND CONTINGENCIES

Purchase
Commitments

During
the quarter ended September 30, 2023, the Company entered into a $9.3 million purchase commitment with a contract manufacturing partner
for the production of MOVIA sensor inventory to support direct sales to both automotive and non-automotive customers. During the quarter
ended December 31, 2024, the Company entered into an additional purchase commitment with the existing contract manufacturing partner
of $1.8 million. Remaining future minimum payments of approximately $2.3 million are expected to be made by the Company through the remainder
of 2025 and 2026.

Litigation

The
Company is subject to various claims and pending or threatened lawsuits