Company: MVIS
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001641172-25-022632
Chunk: 134

Company: MICROVISION, INC.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 2
Chunk 134
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 basis for making judgments regarding the
carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates
under different assumptions or conditions. There have been no significant changes to our critical accounting judgments, policies, and
estimates as described in our Annual Report on Form 10-K for the year ended December 31, 2024.

Results
of Operations 

Revenue

    (in thousands) 
    2025  
    2024  
    $
    change  
    %
    change 
  
    Three Months Ended June 30, 
    $155  
    $1,900  
    $(1,745) 
     (91.8)
  
    Six Months Ended June 30, 
     744  
     2,856  
     (2,112) 
     (73.9)

Revenues
are recognized when control of the promised goods or services are transferred to our customers, in an amount that reflects the consideration
that we expect to receive in exchange for those goods or services. We recognize revenue either at a point in time, or over time, depending
upon the characteristics of the individual contract. If control of the deliverable(s) occurs over time, the revenue is recognized in
proportion to the transfer of control. If control passes to the customer only upon completion and transfer of the asset, revenue is recognized
at the completion of the contract.

The
decrease in revenue for the six months ended June 30, 2025 compared to the same period in 2024 was primarily due to higher
sales of sensors to industrial customers in the 2024 period driven by shipments of
MOVIA L sensors to Daimler Truck North America and affiliates as part of their RFQ evaluation processes.

Cost
of Revenue

    % of  
       
    % of  

    (in thousands) 
    2025  
    revenue  
    2024  
    revenue  
    $
    change  
    %
    change 
  
    Three Months Ended June 30, 
    $716  
     461.9  
    $1,554  
     81.8  
    $(838) 
     (53.9)
  
    Six Months Ended June 30, 
     1,266  
     170.2  
     2,831  
     99