10-Q Filing

MICROVISION, INC. CIK: 65770 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001136261-16-000448`
Period End Date	20160331
Filing Date	20160427
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	mvis-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 32 Cash Flow Statement 48

Balance Sheet 65 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`	$38.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.21M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.35M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.68M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.89M	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 $38, respectively	`AccountsReceivableNetCurrent`	$996.00K	USD	Point-in-time
Accounts receivable, net of allowances of $38 and $38, respectively	`AccountsReceivableNetCurrent`	$1.69M	USD	Point-in-time
Inventory	`InventoryNet`	$862.00K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Inventory	`InventoryNet`	$906.00K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$638.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$590.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$11.07M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$13.70M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.54M	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`	$1.67M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$435.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	47.42M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	51.49M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$435.00K	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$845.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	51.49M	shares	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$813.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	47.42M	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`	$16.50M	USD	Point-in-time
Total assets	`Assets`	$14.04M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.18M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.35M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$3.88M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$3.40M	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$2.12M	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$1.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.44M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.70M	USD	Point-in-time
Deferred revenue, net of current portion	`DeferredRevenueNoncurrent`	$6.15M	USD	Point-in-time
Deferred revenue, net of current portion	`DeferredRevenueNoncurrent`	$5.90M	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$342.00K	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$304.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$14.20M	USD	Point-in-time
Total liabilities	`Liabilities`	$13.65M	USD	Point-in-time
Commitments and contingencies (Note 6)	`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; 51,494 and 47,423 shares issued and outstanding	`CommonStockValue`	$51.00K	USD	Point-in-time
Common stock, par value $0.001; 100,000 shares authorized; 51,494 and 47,423 shares issued and outstanding	`CommonStockValue`	$47.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$483.17M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$489.73M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsUnappropriated`	$-486.93M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsUnappropriated`	$-483.37M	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-153.00K	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.86M	USD	Point-in-time
Total liabilities and shareholders' equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$14.04M	USD	Point-in-time
Total liabilities and shareholders' equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$16.50M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Product revenue	`SalesRevenueGoodsNet`	$3.15M	USD	1 Quarter
Product revenue	`SalesRevenueGoodsNet`	$741.00K	USD	1 Quarter
Royalty revenue	`RoyaltyRevenue`	$144.00K	USD	1 Quarter
Royalty revenue	`RoyaltyRevenue`	$542.00K	USD	1 Quarter
Contract revenue	`ContractsRevenue`	$16.00K	USD	1 Quarter
Contract revenue	`ContractsRevenue`	$4.00K	USD	1 Quarter
Total revenue	`Revenues`	$901.00K	USD	1 Quarter
Total revenue	`Revenues`	$3.70M	USD	1 Quarter
Cost of product revenue	`CostOfGoodsSold`	$2.59M	USD	1 Quarter
Cost of product revenue	`CostOfGoodsSold`	$1.04M	USD	1 Quarter
Cost of contract revenue	`ContractRevenueCost`	$7.00K	USD	1 Quarter
Cost of contract revenue	`ContractRevenueCost`	$1.00K	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$1.04M	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$2.59M	USD	1 Quarter
Gross profit	`GrossProfit`	$-143.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$1.11M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$2.60M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$1.90M	USD	1 Quarter
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$1.92M	USD	1 Quarter
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$2.07M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.67M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.82M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.96M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.55M	USD	1 Quarter
Other income, net	`OtherNonoperatingExpense`	$3.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingExpense`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.56M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.96M	USD	1 Quarter
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.07	USD	1 Quarter
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.09	USD	1 Quarter
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	44.96M	shares	1 Quarter
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	47.57M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.56M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.96M	USD	1 Quarter
Depreciation	`Depreciation`	$187.00K	USD	1 Quarter
Depreciation	`Depreciation`	$83.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$32.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$32.00K	USD	1 Quarter
Non-cash share-based compensation expense	`ShareBasedCompensation`	$190.00K	USD	1 Quarter
Non-cash share-based compensation expense	`ShareBasedCompensation`	$300.00K	USD	1 Quarter
Inventory write-downs	`InventoryWriteDown`	$122.00K	USD	1 Quarter
Inventory write-downs	`InventoryWriteDown`	$139.00K	USD	1 Quarter
Other non-cash adjustments	`OtherNoncashExpense`	$1.00K	USD	1 Quarter
Other non-cash adjustments	`OtherNoncashExpense`	$-15.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-191.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-691.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$166.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$455.00K	USD	1 Quarter
Other current and non-current assets	`IncreaseDecreaseInOtherCurrentAssets`	$48.00K	USD	1 Quarter
Other current and non-current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-46.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$141.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$381.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$383.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$207.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-1.17M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$8.13M	USD	1 Quarter
Billings on uncompleted contracts in excess of related costs	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	-	USD	1 Quarter
Billings on uncompleted contracts in excess of related costs	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$179.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.05M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.98M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$82.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$69.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-82.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-69.00K	USD	1 Quarter
Net proceeds from issuance of common stock and warrants	`ProceedsFromIssuanceOfCommonStock`	$3.35M	USD	1 Quarter
Net proceeds from issuance of common stock and warrants	`ProceedsFromIssuanceOfCommonStock`	$6.38M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$6.38M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$3.35M	USD	1 Quarter
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$8.34M	USD	1 Quarter
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$3.32M	USD	1 Quarter
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.21M	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`	$16.68M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.89M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.21M	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`	$16.68M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.89M	USD	Point-in-time
Non-cash additions to property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$246.00K	USD	1 Quarter
Non-cash additions to property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$154.00K	USD	1 Quarter

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