Company: MVIS
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021931
Chunk: 155

Company: MICROVISION, INC.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 155
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 it is more-likely-than-not that the fair value of the Company’s Reference software
intangible asset was less than its carrying amount as of June 30, 2024. As of June 30, 2024, prior to impairment, the fair value was
$4.5 million. As a result, the Company performed an impairment assessment for intangibles in accordance with ASC 360, Property, Plant
and Equipment. The June 30, 2024 impairment test indicated a decline in the carrying amount of the Reference software intangible
asset and a reduction in the asset’s useful life, resulting in a non-cash impairment charge of $3.0 million, which is included
in impairment loss on intangible assets on the condensed consolidated statement of operations. The fair value of the Reference software
subsequent to impairment was $1.4 million and is included within intangible assets, net on the condensed consolidated balance sheets.
There was no impairment of intangible assets during the nine months ended September 30,
2025.

The
following table outlines estimated future amortization expense related to intangible assets held as of September 30, 2025 by line item
on the condensed consolidated statement of operations (in thousands):

 SCHEDULE OF ESTIMATED FUTURE AMORTIZATION EXPENSE RELATED TO INTANGIBLE ASSETS

    Research and  

    Cost of  
    Development  

    Years Ended December 31,  
    Revenue  
    Expense  
    Total 
  
    2025 (remainder of the year)  
    $217  
    $11  
    $228 
  
    2026  
     869  
     30  
     899 
  
    2027  
     829  
     2  
     831 
  
    2028  
     825  
     -  
     825 
  
    2029  
     825  
     -  
     825 
  
    Thereafter  
     6,673  
     -  
     6,673 
  
    Total  
    $10,238  
    $43  
    $10,281 

    18

9.
SHARE-BASED COMPENSATION 

The
Company issues share-based compensation to employees in the form of restricted stock units (RSUs), performance stock units (PSUs), and
stock