Company: MVIS
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001641172-25-022632
Chunk: 139

Company: MICROVISION, INC.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 2
Chunk 139
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     (84.6)

The
decrease in other (expense) income during the three and six months ended June 30, 2025 compared to the same period in 2024 is
primarily due to decreased interest income.

Liquidity
and Capital Resources

We
have incurred significant losses since inception. We have funded operations to date primarily through the sale of common stock,
convertible preferred stock, warrants, the issuance of convertible debt and, to a lesser extent, from development contract revenues,
product sales, and licensing activities. As of June 30, 2025, we had $74.1 million in cash and cash equivalents and $17.3 million in
short-term investment securities. Also on that date, we had approximately $76.5
million availability left on our existing $150.0 million ATM facility that was put in place in the first quarter of 2024. In
addition, we have a remaining commitment pursuant to the convertible note facility of $30.0 million, subject to certain limitations.
Based on our current operating plan, we anticipate that we have sufficient cash and cash equivalents to fund our operations for at
least the next 12 months.

Operating
activities

Cash
used in operating activities totaled $26.8 million during the six months ended June 30, 2025 compared to cash used in operating activities
of $39.4 million during the same period in 2024. Cash used in operating activities resulted primarily from cash used to fund our net
loss, after adjusting for non-cash charges such as share-based compensation, intangible impairment expense, depreciation and amortization
charges and changes in operating assets and liabilities. The changes in cash used in operating activities were primarily attributed to
decreased operating expenses related to personnel. We expect to make minimum payments to our contract manufacturing partner in connection
with the production of MOVIA sensor inventory of approximately $2.3 million during the remainder of 2025 and 2026 in line with agreed-upon
deliveries.

Investing
activities

During
the six months ended June 30, 2025, net cash provided by investing activities was $2.8 million compared to net cash used in investing
activities of $7.4 million during the same period in 2024. During the six months ended June 30, 2025, we purchased short-term investment
securities totaling $19.3 million and sold short-term investment securities totaling $22.4