Company: MVIS
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000783
Chunk: 437

Company: MICROVISION, INC.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 4
Chunk 437
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305 
  
    Finished goods 
     678  
     1,995 
  
    Total inventory  
    $2,294  
    $3,874 

Inventory
is computed using the first-in, first-out (FIFO) method and is stated at the lower of cost and net realizable value. Management periodically
assesses the need to account for obsolescence of inventory and adjusts the carrying value of inventory to its net realizable value when
required.

During the year ended December 31, 2024, the Company recorded a $2.0 million reduction to inventory due to obsolescence.

Property
and Equipment

Property
and equipment consists of the following (in thousands):

 SCHEDULE
OF COMPONENTS OF PROPERTY, PLANT AND EQUIPMENT 

    2024  
    2023 

    December 31, 

    2024  
    2023 
  
    Production equipment 
    $6,140  
    $6,140 
  
    Leasehold improvements 
     3,957  
     3,843 
  
    Computer hardware and software/lab equipment 
     12,211  
     12,149 
  
    Office furniture and equipment 
     4,973  
     5,367 
  
    Property and equipment, gross  
     27,281  
     27,499 
  
    Less: Accumulated depreciation 
     (20,220) 
     (18,467)
  
    Property and equipment,
    net  
    $7,061  
    $9,032 

Depreciation
expense was $2.1 million, $3.1 million, and $0.7 million for the years ended December 31, 2024, 2023 and 2022 respectively.

Intangible
Assets

The
components of intangible assets are as follows:

 SUMMARY OF COMPONENTS OF INTANGIBLE ASSETS

    As of December 31, 2024 
    Gross  

    Net  
    Weighted
    Average Remaining 

    Carrying  
    Accumulated  
    Impairment  
    Carrying  
    Period 
  
    (in
    thousands) 
    Amount  
    Amortization  
    Expense  
    Amount  
    (Years) 
  
    Acquired technology 
    $20,172