Company: MVIS
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021931
Chunk: 170

Company: MICROVISION, INC.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 170
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2025  
    2024  
    $
    change  
    %
    change 
  
    Three Months Ended September 30, 
    $-  
    $-  
    $-  
     - 
  
    Nine Months Ended September 30, 
     -  
     3,027  
     (3,027) 
     (100.0)

Impairment
loss on intangible assets includes impairment charges on intangible assets. During the nine months ended September 30, 2024, management
identified impairment indicators related to MOSAIK software. We performed an assessment of projected future cash flows which resulted
in a $3.0 million impairment charge and reduction in the estimated useful life of the asset. See
Item 1, Note 8. Financial Statement Components – Intangible Assets for additional discussion.

Interest
expense

    (in thousands) 
    2025  
    2024  
    $
    change  
    %
    change 
  
    Three Months Ended September 30, 
    $(2,197) 
    $(21) 
    $(2,176) 
     10,361.9 
  
    Nine Months Ended September 30, 
     (17,270) 
     (51) 
     (17,219) 
     33,762.7 

The
increase in interest expense during the three months ended September 30, 2025 compared to the same period in 2024 relates to non-cash
interest expense related to amortization of the debt discount on notes payable.

The
increase in interest expense during the nine months ended September 30, 2025 compared to the same period in 2024 relates to $7.3 million
of non-cash interest expense representing the discount on the 2025 Purchase Agreement for warrants and shares of common stock (see Part
I, Item 1, Note 7. Warrant Liability), $7.9 million of non-cash interest expense related to amortization of the debt discount and
issuance costs on notes payable, and $2.1 million of non-cash interest expense related to the modification of notes payable (see Part
I, Item 1, Note 6. Notes Payable and Derivative Liability).

Unrealized
gain on derivative liability

    (in thousands) 
    2025  
    2024