Company: MVIS
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021931
Chunk: 159

Company: MICROVISION, INC.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 159
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 of this office space. The sublease
commenced on July 15, 2025 and provides monthly rent of $0.1 million. The sublease expires on April 1, 2030 and contains one 32-month
extension option.

In
April 2022, the Company entered into a lease agreement for product testing for engineering and development activities in Nuremberg, Germany
which commenced in May 2022. In June 2024, the Company abandoned the space prior to its expiration of November 2027.

In
September 2022, the Company entered into a lease agreement for office space in Nuremberg, Germany which commenced in November 2022. In
June 2024, the Company entered into an early termination agreement to decrease the expiration from April 2027 to April 2025, resulting
in an insignificant early termination fee.

In
December 2023, the Company entered into a lease agreement for office space in Hamburg, Germany which commenced in November 2024. The
lease, which expires in November 2029, includes an option to extend the term for two three-year renewal periods.

The
components of lease expense are as follows:

 SCHEDULE OF COMPONENTS OF LEASE EXPENSE

    (in thousands) 
    2025  
    2024  
    2025  
    2024 

    Three Months Ended  
    Nine Months Ended 

    September 30,  
    September 30, 
  
    (in thousands) 
    2025  
    2024  
    2025  
    2024 
  
    Operating lease expense 
    $797  
    $629  
    $2,559  
    $1,964 
  
    Finance lease expense: 

    Amortization of leased assets 
     3  
     -  
     9  
     - 
  
    Interest on lease liabilities 
     1  
     -  
     1  
     - 
  
    Total finance lease expense 
     4  
     -  
     10  
     - 
  
    Total lease expense 
    $801  
    $629  
    $2,569  
    $1,964 

    20

Supplemental
cash flow information related to leases is as follows:

 SCHEDULE OF