Company: MVIS
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001641172-25-022632
Chunk: 105

Company: MICROVISION, INC.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 105
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2024  
    $
    change  
    %
    change 
  
    Three Months Ended June 30, 
    $-  
    $-  
    $-  
     - 
  
    Six Months Ended June 30, 
     (4,654) 
     -  
     (4,654) 
     - 

As
a result of the debt modification during the six months ended June 30, 2025, we recognized a loss on extinguishment of notes payable.
See Part I, Item 1, Note 6. Notes Payable and Derivative Liability for additional discussion.

Other
(expense) income

    (in thousands) 
    2025  
    2024  
    $
    change  
    %
    change 
  
    Three Months Ended June 30, 
    $(65) 
    $798  
    $(863) 
     (108.1)
  
    Six Months Ended June 30, 
     223  
     1,448  
     (1,225) 
     (84.6)

The
decrease in other (expense) income during the three and six months ended June 30, 2025 compared to the same period in 2024 is
primarily due to decreased interest income.

Liquidity
and Capital Resources

We
have incurred significant losses since inception. We have funded operations to date primarily through the sale of common stock,
convertible preferred stock, warrants, the issuance of convertible debt and, to a lesser extent, from development contract revenues,
product sales, and licensing activities. As of June 30, 2025, we had $74.1 million in cash and cash equivalents and $17.3 million in
short-term investment securities. Also on that date, we had approximately $76.5
million availability left on our existing $150.0 million ATM facility that was put in place in the first quarter of 2024. In
addition, we have a remaining commitment pursuant to the convertible note facility of $30.0 million, subject to certain limitations.
Based on our current operating plan, we anticipate that we have sufficient cash and cash equivalents to fund our operations for at
least the next 12 months.

Operating
activities

Cash
used in operating activities totaled $26.8 million during the six months ended June 30, 2025 compared to cash used in