Company: MVIS
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000783
Chunk: 145

Company: MICROVISION, INC.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 1B
Chunk 145
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 Backlog 
     -  
     -  
     -  
     -  
     - 

    $20,172  
    $5,019  
    $4,181  
    $10,972  

    As of December 31, 2023 
    Gross  

    Net  
    Weighted
    Average Remaining 

    Carrying  
    Accumulated  
    Impairment  
    Carrying 
    Period 
  
    (in
    thousands) 
    Amount  
    Amortization  
    Expense  
    Amount  
    (Years) 
  
    Acquired technology 
    $20,172  
    $2,940  
    $-  
    $17,232  
     12 
  
    Backlog 
     26  
     23  
     -  
     3  
     - 

    $20,198  
    $2,963  
    $-  
    $17,235  

Amortization
expense was $2.1 million, $2.1 million, and $0.0 million for the years ended December 31, 2024, 2023 and 2022, respectively.

During
the quarter ended June 30, 2024, management identified various factors related to the 2024 restructuring events (see Note 14. Restructuring
Charges) that collectively indicated that it is more-likely-than-not that the fair value of the Company’s Reference software intangible
asset was less than its carrying amount as of June 30, 2024. As of June 30, 2024, prior to impairment, the fair value was $4.5 million.
As a result, the Company performed an impairment assessment for intangibles in accordance with ASC 360, Property, Plant and Equipment.
The June 30, 2024 impairment test indicated a decline in the carrying amount of the Reference software intangible asset and a reduction
in the asset’s useful life, resulting in a non-cash impairment charge of $3.0 million.

As
part of the Company’s annual impairment assessment, management identified further factors that indicated
the Company’s Reference software intangible asset is more-likely-than-not fully impaired. As of December 31, 2024, prior to impairment,
the fair value was $1