Company: MVIS
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001641172-25-022632
Chunk: 100

Company: MICROVISION, INC.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 100
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 Payable and Derivative Liability. In February 2025, we entered into another securities purchase agreement with the same institutional
investor for the issuance and sale of $8.0 million in shares of common stock, plus warrants to purchase additional shares of common stock
for approximately $9.0 million. See Part I, Item 1, Note 7. Warrant Liability.

23

Our
discussion and analysis of our financial condition and results of operations are based upon our condensed consolidated financial statements,
which have been prepared in accordance with accounting principles generally accepted in the United States. The preparation of these financial
statements requires us to make estimates and judgments that materially affect the reported amounts of assets, liabilities, revenues and
expenses, and related disclosure of contingent liabilities. We evaluate our estimates on a continuous basis. We base our estimates on
historical data, terms of existing contracts, our evaluation of trends in the consumer display and 3D sensing industries, information
provided by our current and prospective customers and strategic partners, information available from other outside sources and on various
other assumptions we believe to be reasonable under the circumstances. The results form the basis for making judgments regarding the
carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates
under different assumptions or conditions. There have been no significant changes to our critical accounting judgments, policies, and
estimates as described in our Annual Report on Form 10-K for the year ended December 31, 2024.

Results
of Operations 

Revenue

    (in thousands) 
    2025  
    2024  
    $
    change  
    %
    change 
  
    Three Months Ended June 30, 
    $155  
    $1,900  
    $(1,745) 
     (91.8)
  
    Six Months Ended June 30, 
     744  
     2,856  
     (2,112) 
     (73.9)

Revenues
are recognized when control of the promised goods or services are transferred to our customers, in an amount that reflects the consideration
that we expect to receive in exchange for those goods or services. We recognize revenue either at a point in time, or over time, depending
upon the characteristics of the individual contract. If control of the deliverable(s) occurs over time, the revenue is recognized in
proportion to the transfer of control. If control passes