Company: MVIS
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021931
Chunk: 138

Company: MICROVISION, INC.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 138
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 rated
money market savings accounts. Short-term investments are comprised of highly rated corporate bonds and U.S. Treasury securities.

For
the three months ended September 30, 2025, an automotive manufacturer and an automotive supplier accounted for $0.2 million and $0.1
million of total revenue, respectively, representing 80% and 12% of total revenue, respectively. For the same period in 2024, three customers
accounted for $0.1 million, $0.1 million, and $0.1 million of total revenue, representing 65%, 16%, and 11% of total revenue, respectively.

For
the nine months ended September 30, 2025, a leading manufacturer of agricultural equipment, an automotive supplier, and an automotive
manufacturer accounted for $0.5 million, $0.2 million, and $0.2 million of total revenue, respectively, representing 51%, 20%, and 18%
of total revenue, respectively. For the same period in 2024, three customers accounted for $1.7 million, $0.6 million, and $0.3 million
of total revenue, representing 55%, 20%, and 10% of total revenue, respectively.

As
of September 30, 2025, accounts receivable related to these customers accounted for 86% of total accounts receivable, net of allowances
on the condensed consolidated balance sheets.

Typically,
a significant concentration of components and the products sold are manufactured and obtained from single or limited-source suppliers.
The loss of any single or limited-source supplier, the failure of any of these suppliers to perform as expected, or the disruption in
the supply chain of components from these suppliers could subject the Company to risks and uncertainties including, but not limited to,
increased cost of sales, possible loss of revenues, or significant delays in product development or product deliveries, any of which
could adversely affect the Company’s financial condition and operating results.

Warrant
Liability

The
Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s
specific terms and applicable authoritative guidance included in Accounting Standards Codification (“ASC”) 480, Distinguishing
Liabilities from Equity, and ASC 815, Derivatives and Hedging. The assessment considers whether the warrants are freestanding financial
instruments pursuant to ASC 480, whether the warrants meet the definition of a liability pursuant to ASC