Company: MVIS
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001641172-25-022632
Chunk: 28

Company: MICROVISION, INC.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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    $4,181  
    $10,510  

    As of December 31, 2024 
    Gross  
       
    Accumulated  
    Net  
    Weighted
                                                                  Average 

    Carrying  
    Accumulated  
    Impairment  
    Carrying  
    Remaining 
  
    (in thousands) 
    Amount  
    Amortization  
    Expense  
    Amount  
    Period
    (Years) 
  
    Acquired technology 
    $20,172  
    $5,019  
    $4,181  
    $10,972  
     13 
  
     Total 
    $20,172  
    $5,019  
    $4,181  
    $10,972  

Amortization
expense was $0.3 million and $0.6 million for the three months ended June 30, 2025 and 2024, and $0.5 million and $1.1 million for the
six months ended June 30, 2025 and 2024, respectively.

During
the quarter ended June 30, 2024, management identified various factors related to the 2024 restructuring events (see Note 14. Restructuring
Charges) that collectively indicated that 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 six months ended June 30, 2025.

The
following table outlines estimated future amortization expense related to int