Company: MVIS
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000783
Chunk: 611

Company: MICROVISION, INC.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 8
Chunk 611
---
 backlog 
     26  
     1 
  
    Contract liabilities 
     (1,178) 

    Operating lease liabilities 
     (234) 

    Deferred tax liabilities 
     (785) 

    Total identifiable net assets 
    $23,280  

    Bargain purchase gain(2) 
     (1,669) 

(1)During
                                            the year ended December 31, 2024, the Company recognized a $4.2 million impairment charge
                                            on certain identified intangible assets acquired in this business combination. See Note 8.
                                            Financial Statement Components.

(2)The
                                            bargain purchase gain represents the excess of the fair value of the underlying net assets
                                            acquired and liabilities assumed over the purchase consideration and is included in bargain
                                            purchase gain, net of tax in the consolidated statements of operations. The bargain purchase
                                            gain was attributable to the negotiation process with Ibeo during its insolvency proceedings
                                            resulting in cash consideration paid being less than the fair value of the net assets acquired.

The
estimated fair value of acquired technology was calculated through the income approach using the multi-period excess earnings and relief
from royalty methodologies. The estimated fair value of the order backlog was calculated through the income approach using the multi-period
excess earnings methodology.

Revenue and net income from the acquisition included in the consolidated statement of operations from the acquisition
date through December 31, 2023 is $2.3 million and $3.9 million, respectively.

5.
REVENUE RECOGNITION

Disaggregation
of Revenue

The
following table provides information about disaggregated revenue by timing of revenue recognition (in thousands):

 SCHEDULE
OF DISAGGREGATION OF REVENUE

    Revenue  
    Revenue  
    Revenue  
    Total 

    Year Ended December 31, 2024 

    License and  

    Product  
    Royalty  
    Contract  

    Revenue  
    Revenue  
    Revenue  
    Total 
  
    Timing of revenue recognition: 

    Products transferred at a point in time 
    $4,117  
    $475  
    $104  
    $4,696 
  
    Products and services transferred over time 
     -  
     -  
     -  
     - 
  
    Total 
    $4,117  
    $475