Company: MVIS
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000783
Chunk: 1

Company: MICROVISION, INC.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 1A
Chunk 1
---
 no assurance that any such efforts to obtain additional capital would be successful.

We
are currently focused on developing and commercializing our perception software and sensor solutions. This involves introducing new
technologies into an emerging market which creates significant uncertainty about our ability to accurately project the amounts and
timing of revenue, costs, and cash flows. Our capital requirements will depend on many factors, including, but not limited to, the
commercial success of our technologies, the rate at which OEMs and other customers introduce systems incorporating our solutions and
technologies and the market acceptance and competitive position of such systems. Our expenses increased significantly as a result of
the January 2023 Ibeo acquisition and related headcount increase, though in 2024 we effectuated meaningful headcount reductions. If
revenues continue to be less than we anticipate, if the mix of revenues and the associated margins vary from anticipated amounts, or
if expenses exceed the amounts budgeted, we may require additional capital earlier than expected to fund our operations. In
addition, our operating plan provides for the development of strategic relationships with suppliers of components, products and
systems, and equipment manufacturers that may require additional investments by us.

Additional
capital may not be available to us or, if available, may not be available at a level or on terms acceptable to us or on a timely
basis. Raising additional capital may involve issuing securities with rights and preferences that are senior to our common stock and
may dilute the value of our current shareholders’ investment in us. Moreover, raising capital through the sale of our equity
securities is dependent upon the availability of the requisite shares of authorized stock, which is driven by the market price of
our stock and the approval of our stockholders. If adequate capital resources are not available on a timely basis, we may consider
limiting our operations substantially and we may be unable to continue as a going concern. This limitation of operations could
include reducing investments in our research and development projects, staff, operating costs, and capital expenditures which could
jeopardize our ability to achieve our business goals or satisfy our customer requirements.

Risks
Related to our Financial Statements and Results

Our
revenue is generated from a small number of customers, and as we have experienced recently and in the past, losing a significant customer
negatively impacts our revenue.

For
the year ended December 31, 2024, a leading manufacturer of agricultural equipment accounted for $2.8 million in revenue, a
major global trucking