Company: MVIS
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001641172-25-009765
Chunk: 205

Company: MICROVISION, INC.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 205
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. In
June 2024, the Company entered into an early termination agreement to decrease the expiration from April 2027 to April 2025, resulting
in an insignificant early termination fee.

In
December 2023, the Company entered into a lease agreement for office space in Hamburg, Germany which commenced in November 2024. The
lease, which expires in October 2029, includes an option to extend the term for two three-year renewal periods.

The
components of lease expense are as follows:

 SCHEDULE OF COMPONENTS OF LEASE EXPENSE

    (in
    thousands) 
    2025  
    2024 

    Three
    Months Ended 

    March
    31, 
  
    (in
    thousands) 
    2025  
    2024 
  
    Operating
    lease expense 
    $859  
    $665 
  
    Finance
    lease expense: 

    Amortization
    of leased assets 
     2  
     - 

    Interest
    on lease liabilities 
     1  
     - 

    Total
    finance lease expense 
     3  
     - 

    Total
    lease expense 
    $862  
    $665 

Supplemental
cash flow information related to leases was as follows:

 SCHEDULE OF CASH FLOW INFORMATION RELATED TO LEASES

    (in
    thousands) 
    2025  
    2024 

    Three
    Months Ended 

    March
    31, 
  
    (in
    thousands) 
    2025  
    2024 
  
    Cash paid for amounts included in measurement of lease
    liabilities: 

    Operating cash
    flows from operating leases 
    $554  
    $639 
  
    Operating cash flows from
    finance leases 
     2   
     - 

    19

Supplemental
balance sheet information related to leases was as follows:

 SCHEDULE
OF BALANCE SHEET INFORMATION RELATED TO LEASES

    March
    31,  
    December
    31, 
  
    (in
    thousands) 
    2025  
    2024 
  
    Operating leases 

    Operating
    lease right-of-use assets 
    $16,306  
    $16