Company: MVIS
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001641172-25-009765
Chunk: 55

Company: MICROVISION, INC.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 4
Chunk 55
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anning, or LBS, technology system, including products built around that technology such as our automotive lidar sensors,
and development of demonstration units. We are unable to accurately estimate future revenues and operating expenses based upon historical
performance.

We
cannot be certain that we will succeed in obtaining additional development revenue or commercializing our technology or products at scale.
In light of these factors, we expect to continue to incur significant losses and negative cash flow through the remainder of 2025 and
the foreseeable future. There is significant risk that we will not achieve positive cash flow at any time in the future.

We
will require additional capital to fund our operations at the level necessary to implement our business plan. Raising additional capital
will dilute the value of current shareholders’ investment in us. Additionally, we may be unable to raise capital at the level we
expect or on terms acceptable to us.

Based
on our current operating plan, we anticipate that we have sufficient cash and cash equivalents to fund our operations for at least the
next 12 months. We will, however, require additional capital to fund our operating plan past that time. We will seek to obtain additional
capital through development revenue, product sales, licensing activities, and/or through the issuance of equity or debt securities. There can
be 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