Company: MVIS
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001641172-25-022632
Chunk: 72

Company: MICROVISION, INC.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 72
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 and are recorded in other (expense) 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 June 30, 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 June 30, 2025, an automotive supplier accounted for $0.1
million of total revenue, representing 59%
of total revenue. For the same period in 2024, two customers accounted for $1.3 million and $0.2 million of total revenue,
representing 71%
and 11%
of total revenue, respectively.

For
the six months ended June 30, 2025, a leading manufacturer of agricultural equipment and an automotive supplier accounted for $0.5
million and $0.2
million of total revenue, respectively, representing 66%
and 22%
of total revenue, respectively. For the same period in 2024, two customers accounted for $1.7 million and $0.6 million of total
revenue, representing 58%
and 22%
of total revenue, respectively.

As
of June 30, 2025, accounts receivable related to these customers accounted for 95% of total accounts receivable, net of allowances on
the condensed consolidated balance sheets.

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