Company: MVIS
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001641172-25-022632
Chunk: 232

Company: MICROVISION, INC.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part II, Item 1A
Chunk 232
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can be no assurance that any such efforts to obtain additional capital would be successful.

We
are currently focused on developing and commercializing our perception software and sensor solutions. This involves introducing new technologies
into an emerging market which creates significant uncertainty about our ability to accurately project the amounts and timing of revenue,
costs, and cash flows. Our capital requirements will depend on many factors, including, but not limited to, the commercial success of
our technologies, the rate at which OEMs and other customers introduce systems incorporating our solutions and technologies and the market
acceptance and competitive position of such systems. Our expenses increased significantly as a result of the January 2023 Ibeo acquisition
and related headcount increase, though in 2024 we effectuated meaningful headcount reductions. If revenues continue to be less than we
anticipate, if the mix of revenues and the associated margins vary from anticipated amounts, or if expenses exceed the amounts budgeted,
we may require additional capital earlier than expected to fund our operations. In addition, our operating plan provides for the development
of strategic relationships with suppliers of components, products and systems, and equipment manufacturers that may require additional
investments by us.

28

Additional
capital may not be available to us or, if available, may not be available at a level or on terms acceptable to us or on a timely basis.
Raising additional capital may involve issuing securities with rights and preferences that are senior to our common stock and may dilute
the value of our current shareholders’ investment in us. Moreover, raising capital through the sale of our equity securities is
dependent upon the availability of the requisite shares of authorized stock, which is driven by the market price of our stock and the
approval of our stockholders. As of June 30, 2025, we had approximately 186.1 million authorized shares of common stock available for
issuance. If adequate capital resources are not available on a timely basis, we may consider limiting our operations substantially and
we may be unable to continue as a going concern. This limitation of operations could include reducing investments in our research and
development projects, staff, operating costs, and capital expenditures which could jeopardize our ability to achieve our business goals
or satisfy our customer requirements.

Risks
Related to our Financial Statements and Results

Our
revenue is generated from a small number of customers, and as we have experienced recently and in the past, losing a significant customer
negatively impacts our revenue.

For
the six months ended