Company: MVIS
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021931
Chunk: 6

Company: MICROVISION, INC.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 2
Chunk 6
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 to the same
period in 2024 was primarily due to lower non-cash share-based compensation expense of $4.2 million from the reversal of previously recognized
expense related to the forfeiture of awards in connection with the CEO separation that occurred in the three months ended September 30,
2025, lower salary and benefits expense of $2.8 million, lower restructuring charges of $0.7 million, and lower trade show expense of
$0.4 million, partially offset by higher purchased services of $0.4 million, higher building costs of $0.4 million, higher recruiting
costs of $0.4 million, higher travel costs of $0.3 million, and higher advertising costs of $0.3 million.

25

Impairment
loss on intangible assets

    (in thousands) 
    2025  
    2024  
    $
    change  
    %
    change 
  
    Three Months Ended September 30, 
    $-  
    $-  
    $-  
     - 
  
    Nine Months Ended September 30, 
     -  
     3,027  
     (3,027) 
     (100.0)

Impairment
loss on intangible assets includes impairment charges on intangible assets. During the nine months ended September 30, 2024, management
identified impairment indicators related to MOSAIK software. We performed an assessment of projected future cash flows which resulted
in a $3.0 million impairment charge and reduction in the estimated useful life of the asset. See
Item 1, Note 8. Financial Statement Components – Intangible Assets for additional discussion.

Interest
expense

    (in thousands) 
    2025  
    2024  
    $
    change  
    %
    change 
  
    Three Months Ended September 30, 
    $(2,197) 
    $(21) 
    $(2,176) 
     10,361.9 
  
    Nine Months Ended September 30, 
     (17,270) 
     (51) 
     (17,219) 
     33,762.7 

The
increase in interest expense during the three months ended September 30, 2025 compared to the same period in 2024 relates to non-cash
interest expense related to amortization of the debt discount on notes payable.