Company: MVIS
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021931
Chunk: 169

Company: MICROVISION, INC.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 169
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0.4 million, partially
offset by higher building costs of $0.6 million.

Sales,
marketing, general and administrative expense

    (in thousands) 
    2025  
    2024  
    $
    change  
    %
    change 
  
    Three Months Ended September 30, 
    $4,027  
    $6,599  
    $(2,572) 
     (39.0)
  
    Nine Months Ended September 30, 
     17,140  
     23,423  
     (6,283) 
     (26.8)

Sales,
marketing, general and administrative expense includes compensation and support costs for marketing, sales, management and administrative
staff, and for other general and administrative costs, including legal and accounting services, consultants and other operating expenses.

The
decrease in sales, marketing, general and administrative expense during the three months ended September 30, 2025 compared to the
same period in 2024 was primarily due to lower non-cash share-based compensation expense of $4.2 million from the reversal of
previously recognized expense related to the forfeiture of awards in connection with the CEO separation that occurred in the three
months ended September 30, 2025, and lower professional service fees of $0.3 million, partially offset by higher severance expense
of $1.2 million and advertising costs of $0.3 million and higher travel costs of $0.3 million.

The
decrease in sales, marketing, general and administrative expense during the nine months ended September 30, 2025 compared to the same
period in 2024 was primarily due to lower non-cash share-based compensation expense of $4.2 million from the reversal of previously recognized
expense related to the forfeiture of awards in connection with the CEO separation that occurred in the three months ended September 30,
2025, lower salary and benefits expense of $2.8 million, lower restructuring charges of $0.7 million, and lower trade show expense of
$0.4 million, partially offset by higher purchased services of $0.4 million, higher building costs of $0.4 million, higher recruiting
costs of $0.4 million, higher travel costs of $0.3 million, and higher advertising costs of $0.3 million.

25

Impairment
loss on intangible assets

    (in thousands)