10-Q Filing

MICROVISION, INC. CIK: 65770 Q2 2015

Filing Information

Form Type	10-Q
Accession Number	`0001136261-15-000224`
Period End Date	20150630
Filing Date	20150729
Fiscal Year	2015
Fiscal Period	Q2
XBRL Instance	mvis-20150630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 76 Cash Flow Statement 62

Balance Sheet 67 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable, current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$38.00K	USD	Point-in-time
Allowance for doubtful accounts receivable, current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$52.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.46M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.35M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.09M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.38M	USD	Point-in-time
Accounts receivable, net of allowances of $38 and $52	`AccountsReceivableNetCurrent`	$1.32M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net of allowances of $38 and $52	`AccountsReceivableNetCurrent`	$669.00K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Inventory	`InventoryNet`	$348.00K	USD	Point-in-time
Inventory	`InventoryNet`	$116.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$542.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$491.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$17.30M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$9.62M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$894.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.52M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$435.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	47.22M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$435.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	44.76M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	44.76M	shares	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$973.00K	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$909.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	47.22M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$18.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$18.00K	USD	Point-in-time
Total assets	`Assets`	$11.95M	USD	Point-in-time
Total assets	`Assets`	$20.18M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.97M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.63M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$3.27M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$2.73M	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	-	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$1.28M	USD	Point-in-time
Billings on uncompleted contracts in excess of related costs	`BillingsInExcessOfCostCurrent`	$5.00K	USD	Point-in-time
Billings on uncompleted contracts in excess of related costs	`BillingsInExcessOfCostCurrent`	$230.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.58M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.53M	USD	Point-in-time
Deferred revenue, net of current portion	`DeferredRevenueNoncurrent`	-	USD	Point-in-time
Deferred revenue, net of current portion	`DeferredRevenueNoncurrent`	$6.65M	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$417.00K	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$488.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$13.60M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.07M	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, par value $0.001; 25,000 shares authorized; 0 and 0 shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $0.001; 25,000 shares authorized; 0 and 0 shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $0.001; 100,000 shares authorized; 47,216 and 44,758 shares issued and outstanding	`CommonStockValue`	$47.00K	USD	Point-in-time
Common stock, par value $0.001; 100,000 shares authorized; 47,216 and 44,758 shares issued and outstanding	`CommonStockValue`	$45.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$475.66M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$482.09M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsUnappropriated`	$-468.83M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsUnappropriated`	$-475.56M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$6.87M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$6.58M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$11.95M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$20.18M	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Product revenue	`SalesRevenueGoodsNet`	$1.00K	USD	1 Quarter
Product revenue	`SalesRevenueGoodsNet`	$2.92M	USD	2 Qtrs
Product revenue	`SalesRevenueGoodsNet`	$2.18M	USD	1 Quarter
Product revenue	`SalesRevenueGoodsNet`	$2.00K	USD	2 Qtrs
Royalty revenue	`RoyaltyRevenue`	$468.00K	USD	2 Qtrs
Royalty revenue	`RoyaltyRevenue`	$26.00K	USD	2 Qtrs
Royalty revenue	`RoyaltyRevenue`	$18.00K	USD	1 Quarter
Royalty revenue	`RoyaltyRevenue`	$324.00K	USD	1 Quarter
Contract revenue	`ContractsRevenue`	$341.00K	USD	2 Qtrs
Contract revenue	`ContractsRevenue`	$324.00K	USD	1 Quarter
Contract revenue	`ContractsRevenue`	$1.55M	USD	2 Qtrs
Contract revenue	`ContractsRevenue`	$1.54M	USD	1 Quarter
Development revenue	`OtherSalesRevenueNet`	-	USD	1 Quarter
Development revenue	`OtherSalesRevenueNet`	-	USD	2 Qtrs
Development revenue	`OtherSalesRevenueNet`	$1.46M	USD	2 Qtrs
Development revenue	`OtherSalesRevenueNet`	$268.00K	USD	1 Quarter
Total revenue	`Revenues`	$611.00K	USD	1 Quarter
Total revenue	`Revenues`	$4.94M	USD	2 Qtrs
Total revenue	`Revenues`	$4.04M	USD	1 Quarter
Total revenue	`Revenues`	$1.83M	USD	2 Qtrs
Cost of product revenue	`CostOfGoodsSold`	$33.00K	USD	1 Quarter
Cost of product revenue	`CostOfGoodsSold`	$3.11M	USD	2 Qtrs
Cost of product revenue	`CostOfGoodsSold`	$2.07M	USD	1 Quarter
Cost of product revenue	`CostOfGoodsSold`	$23.00K	USD	2 Qtrs
Cost of contract revenue	`ContractRevenueCost`	$135.00K	USD	1 Quarter
Cost of contract revenue	`ContractRevenueCost`	$789.00K	USD	2 Qtrs
Cost of contract revenue	`ContractRevenueCost`	$144.00K	USD	2 Qtrs
Cost of contract revenue	`ContractRevenueCost`	$782.00K	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$167.00K	USD	2 Qtrs
Total cost of revenue	`CostOfRevenue`	$3.90M	USD	2 Qtrs
Total cost of revenue	`CostOfRevenue`	$168.00K	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$2.86M	USD	1 Quarter
Gross profit	`GrossProfit`	$443.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$1.04M	USD	2 Qtrs
Gross profit	`GrossProfit`	$1.66M	USD	2 Qtrs
Gross profit	`GrossProfit`	$1.19M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$2.24M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$3.91M	USD	2 Qtrs
Research and development expense	`ResearchAndDevelopmentExpense`	$2.01M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$4.78M	USD	2 Qtrs
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$1.84M	USD	1 Quarter
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$3.80M	USD	2 Qtrs
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$1.95M	USD	1 Quarter
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$3.87M	USD	2 Qtrs
Gain on sale of previously reserved inventory	`GainLossOnSaleOfOtherAssets`	$228.00K	USD	1 Quarter
Gain on sale of previously reserved inventory	`GainLossOnSaleOfOtherAssets`	$455.00K	USD	2 Qtrs
Gain on sale of previously reserved inventory	`GainLossOnSaleOfOtherAssets`	-	USD	1 Quarter
Gain on sale of previously reserved inventory	`GainLossOnSaleOfOtherAssets`	-	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$7.78M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$3.96M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.85M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$8.12M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-6.73M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-3.41M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-6.46M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-2.77M	USD	1 Quarter
Loss on warrant exchange	`DerivativeGainLossOnDerivativeNet`	$-4.97M	USD	2 Qtrs
Loss on warrant exchange	`DerivativeGainLossOnDerivativeNet`	$-5.00M	USD	Point-in-time
Loss on warrant exchange	`DerivativeGainLossOnDerivativeNet`	-	USD	1 Quarter
Loss on warrant exchange	`DerivativeGainLossOnDerivativeNet`	-	USD	1 Quarter
Other income, net	`OtherNonoperatingExpense`	$-5.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingExpense`	$-9.00K	USD	2 Qtrs
Other income, net	`OtherNonoperatingExpense`	$-1.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingExpense`	$-1.00K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-6.73M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-11.42M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.77M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.40M	USD	1 Quarter
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.08	USD	1 Quarter
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.15	USD	2 Qtrs
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.06	USD	1 Quarter
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.29	USD	2 Qtrs
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	43.02M	shares	1 Quarter
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	46.66M	shares	1 Quarter
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	38.95M	shares	2 Qtrs
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	45.82M	shares	2 Qtrs

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-6.73M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-11.42M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.77M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.40M	USD	1 Quarter
Depreciation	`Depreciation`	$250.00K	USD	2 Qtrs
Depreciation	`Depreciation`	$180.00K	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$64.00K	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$66.00K	USD	2 Qtrs
Non-cash share-based compensation expense	`ShareBasedCompensation`	$506.00K	USD	2 Qtrs
Non-cash share-based compensation expense	`ShareBasedCompensation`	$424.00K	USD	2 Qtrs
Realized loss on warrant exchange	`DerivativeGainLossOnDerivativeNet`	$-4.97M	USD	2 Qtrs
Realized loss on warrant exchange	`DerivativeGainLossOnDerivativeNet`	$-5.00M	USD	Point-in-time
Realized loss on warrant exchange	`DerivativeGainLossOnDerivativeNet`	-	USD	1 Quarter
Realized loss on warrant exchange	`DerivativeGainLossOnDerivativeNet`	-	USD	1 Quarter
Inventory write-downs	`InventoryWriteDown`	$25.00K	USD	2 Qtrs
Inventory write-downs	`InventoryWriteDown`	$287.00K	USD	2 Qtrs
Non-cash adjustments	`OtherNoncashExpense`	$-59.00K	USD	2 Qtrs
Non-cash adjustments	`OtherNoncashExpense`	$-31.00K	USD	2 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$651.00K	USD	2 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$30.00K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$519.00K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$7.00K	USD	2 Qtrs
Other current and non-current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-30.00K	USD	2 Qtrs
Other current and non-current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-194.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$19.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$248.00K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$508.00K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-230.00K	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$7.94M	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	2 Qtrs
Billings in excess of costs and estimated earnings on uncompleted contracts	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-225.00K	USD	2 Qtrs
Billings in excess of costs and estimated earnings on uncompleted contracts	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-560.00K	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.46M	USD	2 Qtrs
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.67M	USD	2 Qtrs
Proceeds on sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$28.00K	USD	2 Qtrs
Proceeds on sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$109.00K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$719.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-719.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-81.00K	USD	2 Qtrs
Principal payments under capital leases and long-term debt	`RepaymentsOfLongTermDebtAndCapitalSecurities`	-	USD	2 Qtrs
Principal payments under capital leases and long-term debt	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$15.00K	USD	2 Qtrs
Net proceeds from issuance of common stock and warrants	`ProceedsFromIssuanceOfCommonStock`	$5.99M	USD	2 Qtrs
Net proceeds from issuance of common stock and warrants	`ProceedsFromIssuanceOfCommonStock`	$13.85M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$13.84M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$5.99M	USD	2 Qtrs
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$7.09M	USD	2 Qtrs
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$6.74M	USD	2 Qtrs
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.46M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.35M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.09M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.38M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.46M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.35M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.09M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.38M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$1.00K	USD	2 Qtrs
Cash paid for interest	`InterestPaid`	$1.00K	USD	2 Qtrs
Non-cash additions to property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$187.00K	USD	2 Qtrs
Non-cash additions to property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$29.00K	USD	2 Qtrs
Issuance of common stock for exchange of warrants	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	2 Qtrs
Issuance of common stock for exchange of warrants	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$9.87M	USD	2 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.