Company: MVIS
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001641172-25-009765
Chunk: 151

Company: MICROVISION, INC.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 151
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 years  
     6.8
                                            years 
  
    Finance
    leases 
     3.9
                                            years  
     n/a 

    Weighted Average Discount Rate 

    Operating
    leases 
     4.9% 
     4.9%
  
    Finance
    leases 
     5.5% 
     n/a 

As
of March 31, 2025, maturities of lease liabilities were as follows:

 SCHEDULE OF MATURITIES OF LEASE LIABILITIES

    (in thousands) 
    Operating  
    Finance 
  
    Years
    Ended December 31, 
    Leases  
    Leases 
  
    2025 (remainder
    of the year) 
    $2,812  
    $10 
  
    2026 
     3,333  
     10 
  
    2027 
     3,335  
     9 
  
    2028 
     3,326  
     5 
  
    2029 
     2,809  
     3 
  
    Thereafter 
     5,716  
     - 
  
    Total minimum lease payments 
     21,331  
     37 
  
    Less:
    amount representing interest 
     (2,916) 
     (3)
  
    Present value of lease
    liabilities 
    $18,415  
    $34 

11.
COMMITMENTS AND CONTINGENCIES

Purchase
Commitments

During
the quarter ended September 30, 2023, the Company entered into a $9.3 million purchase commitment with a contract manufacturing partner
for the production of MOVIA sensor inventory to support direct sales to both automotive and non-automotive customers. During the quarter
ended December 31, 2024, the Company entered into an additional purchase commitment with the existing contract manufacturing partner
of $1.8 million. Remaining future minimum payments of approximately $2.6 million are expected to be made by the Company through the remainder
of 2025 and 2026.

Litigation

The
Company is subject to various claims and pending or threatened lawsuits in the normal course of business. The Company is not currently
party to any legal proceedings that management believes are reasonably possible to have a material adverse effect on financial position,
results of operations, or cash