Company: MVIS
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001641172-25-009765
Chunk: 186

Company: MICROVISION, INC.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 186
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 and losses on those foreign currency transactions are included in determining net loss for
the period of exchange and are recorded in other income in the condensed consolidated statements of operations.

Segment
Information 

The
Company determines operating segments based on how the chief operating decision maker (“CODM”) manages the business, makes
operating decisions around the allocation of resources, and evaluates operating performance. The CODM is the Executive Management team.
The Company has determined that it operates in one operating segment and one reportable segment, relating to the sale and servicing of
lidar hardware and software, as the CODM regularly reviews financial information presented on a consolidated basis. Financial information
regularly reviewed by the CODM includes revenue, income or loss from operations, and net income or loss.

Concentration
of Credit Risk

Financial
instruments that potentially subject the Company to a concentration of credit risk are primarily cash, cash equivalents, and investment
securities. As of March 31, 2025, cash and cash equivalents are comprised of operating checking accounts and short-term highly rated
money market savings accounts. Short-term investments are comprised of highly rated corporate bonds and U.S. Treasury securities.

For
the three months ended March 31, 2025, a leading manufacturer of agricultural equipment and an automotive supplier accounted for $0.5
million and $0.1 million of total revenue, respectively, representing 80% and 14% of total revenue, respectively. For the same period
in 2024, a major global commercial trucking OEM accounted for $0.5 million in revenue, representing 52% of total revenue, and a leading
manufacturer of agricultural equipment accounted for $0.3 million in revenue, representing 33% of total revenue.

As
of March 31, 2025, accounts receivable related to these customers accounted for 41% of total accounts receivable, net of allowances on
the condensed consolidated balance sheets. Also as of March 31, 2025, the Company’s contract liability with one customer accounted for 55% of total accounts
receivable, net of allowances.

Typically,
a significant concentration of components and the products sold are manufactured and obtained from single or limited-source suppliers.
The loss of any single or limited-source supplier, the failure of any of these suppliers to perform as expected, or the disruption in
the supply chain of components from these suppliers could subject the Company to risks and uncertainties including, but not limited to,
increased cost of sales, possible loss