Company: MVIS
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001641172-25-000783
Chunk: 188

Company: MICROVISION, INC.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 1C
Chunk 188
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identified the impairment assessment of intangible assets as a critical audit matter. Performing audit procedures to evaluate the significant
assumptions used by management when developing the undiscounted cash flows to be generated by the assets required a high degree of auditor
judgment, subjectivity and effort when performing and evaluating the results of those procedures.

Addressing
the matter involved performing procedures and evaluating audit evidence in connection with forming an overall opinion on the consolidated
financial statements. Our audit procedures related to the matter included the following, among others:

●Testing
                                            management’s process for developing the estimated future undiscounted cash flows used
                                            in the impairment assessment.

●Evaluating
                                            the appropriateness of the undiscounted cash flows model.

●Testing
                                            the completeness and accuracy of the underlying data used in the model.

●Evaluating
                                            the reasonableness of the significant assumptions used by management related to estimated
                                            future undiscounted cash flows.

●Evaluating
                                            management’s ability to forecast cash flows by comparing actual results to management’s
                                            historical forecasts.

/s/
Moss Adams

Seattle,
Washington

March 26, 2025

We
have served as the Company’s auditor since 2012.

33

MicroVision,
Inc.

Consolidated
Balance Sheets

(In
thousands, except per share data)

    2024  
    2023 

    December 31, 

    2024  
    2023 
  
    Assets 

    Current assets 

    Cash and cash equivalents 
    $54,486  
    $45,167 
  
    Investment securities, available-for-sale 
     20,216  
     28,611 
  
    Restricted cash, current 
     261  
     3,263 
  
    Accounts receivable, net of allowances 
     926  
     949 
  
    Inventory 
     2,294  
     3,874 
  
    Other current assets 
     4,287  
     4,890 
  
    Total current assets 
     82,470  
     86,754 

    Property and equipment, net 
     7,061  
     9,032 
  
    Operating lease right-of-use assets 
     16,746  
     13,758 
  
    Restricted cash, net of current portion 
     1,500