10-Q Filing

MICROVISION, INC. CIK: 65770 Q2 2016

Filing Information

Form Type	10-Q
Accession Number	`0001136261-16-000575`
Period End Date	20160630
Filing Date	20160801
Fiscal Year	2016
Fiscal Period	Q2
XBRL Instance	mvis-20160630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 64 Cash Flow Statement 50

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`	$15.09M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.89M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.19M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.34M	USD	Point-in-time
Accounts receivable, net of allowances of $38 and $38, respectively	`AccountsReceivableNetCurrent`	$1.69M	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`	$2.09M	USD	Point-in-time
Inventory	`InventoryNet`	$862.00K	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`	$1.12M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$626.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$638.00K	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`	$11.02M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.32M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.67M	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
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$435.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	47.42M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$435.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	51.76M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	47.42M	shares	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$845.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	51.76M	shares	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$781.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$18.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$18.00K	USD	Point-in-time
Total assets	`Assets`	$13.58M	USD	Point-in-time
Total assets	`Assets`	$14.04M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.50M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.18M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$3.40M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$3.15M	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$2.12M	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$1.90M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.55M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.70M	USD	Point-in-time
Deferred revenue, net of current portion	`DeferredRevenueNoncurrent`	$5.65M	USD	Point-in-time
Deferred revenue, net of current portion	`DeferredRevenueNoncurrent`	$6.15M	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$342.00K	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$265.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$13.47M	USD	Point-in-time
Total liabilities	`Liabilities`	$14.20M	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; 51,759 and 47,423 shares issued and outstanding	`CommonStockValue`	$52.00K	USD	Point-in-time
Common stock, par value $0.001; 100,000 shares authorized; 51,759 and 47,423 shares issued and outstanding	`CommonStockValue`	$47.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$490.46M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$483.17M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsUnappropriated`	$-483.37M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsUnappropriated`	$-490.40M	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-153.00K	USD	Point-in-time
Total shareholders' equity (deficit)	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$108.00K	USD	Point-in-time
Total liabilities and shareholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$14.04M	USD	Point-in-time
Total liabilities and shareholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$13.58M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Product revenue	`SalesRevenueGoodsNet`	$6.68M	USD	2 Qtrs
Product revenue	`SalesRevenueGoodsNet`	$2.18M	USD	1 Quarter
Product revenue	`SalesRevenueGoodsNet`	$3.53M	USD	1 Quarter
Product revenue	`SalesRevenueGoodsNet`	$2.92M	USD	2 Qtrs
Royalty revenue	`RoyaltyRevenue`	$1.15M	USD	2 Qtrs
Royalty revenue	`RoyaltyRevenue`	$324.00K	USD	1 Quarter
Royalty revenue	`RoyaltyRevenue`	$468.00K	USD	2 Qtrs
Royalty revenue	`RoyaltyRevenue`	$609.00K	USD	1 Quarter
Contract revenue	`ContractsRevenue`	$1.55M	USD	2 Qtrs
Contract revenue	`ContractsRevenue`	$1.54M	USD	1 Quarter
Contract revenue	`ContractsRevenue`	$16.00K	USD	1 Quarter
Contract revenue	`ContractsRevenue`	$20.00K	USD	2 Qtrs
Total revenue	`Revenues`	$4.04M	USD	1 Quarter
Total revenue	`Revenues`	$4.16M	USD	1 Quarter
Total revenue	`Revenues`	$4.94M	USD	2 Qtrs
Total revenue	`Revenues`	$7.86M	USD	2 Qtrs
Cost of product revenue	`CostOfGoodsSold`	$2.59M	USD	1 Quarter
Cost of product revenue	`CostOfGoodsSold`	$5.17M	USD	2 Qtrs
Cost of product revenue	`CostOfGoodsSold`	$2.07M	USD	1 Quarter
Cost of product revenue	`CostOfGoodsSold`	$3.11M	USD	2 Qtrs
Cost of contract revenue	`ContractRevenueCost`	$789.00K	USD	2 Qtrs
Cost of contract revenue	`ContractRevenueCost`	$5.00K	USD	1 Quarter
Cost of contract revenue	`ContractRevenueCost`	$6.00K	USD	2 Qtrs
Cost of contract revenue	`ContractRevenueCost`	$782.00K	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$2.86M	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$5.18M	USD	2 Qtrs
Total cost of revenue	`CostOfRevenue`	$3.90M	USD	2 Qtrs
Total cost of revenue	`CostOfRevenue`	$2.59M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.56M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.19M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.04M	USD	2 Qtrs
Gross profit	`GrossProfit`	$2.67M	USD	2 Qtrs
Research and development expense	`ResearchAndDevelopmentExpense`	$3.91M	USD	2 Qtrs
Research and development expense	`ResearchAndDevelopmentExpense`	$5.48M	USD	2 Qtrs
Research and development expense	`ResearchAndDevelopmentExpense`	$2.01M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$2.88M	USD	1 Quarter
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$4.24M	USD	2 Qtrs
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$3.87M	USD	2 Qtrs
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$1.95M	USD	1 Quarter
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$2.17M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$9.71M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$7.78M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$5.05M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.96M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-3.49M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-6.73M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-2.77M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-7.04M	USD	2 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$8.00K	USD	2 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$1.00K	USD	2 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$1.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$11.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.77M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.48M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.73M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-7.03M	USD	2 Qtrs
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.14	USD	2 Qtrs
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.15	USD	2 Qtrs
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.07	USD	1 Quarter
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.06	USD	1 Quarter
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	46.66M	shares	1 Quarter
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	49.57M	shares	2 Qtrs
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	45.82M	shares	2 Qtrs
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	51.57M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.77M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.48M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.73M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-7.03M	USD	2 Qtrs
Depreciation	`Depreciation`	$180.00K	USD	2 Qtrs
Depreciation	`Depreciation`	$396.00K	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$64.00K	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$64.00K	USD	2 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$674.00K	USD	2 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$424.00K	USD	2 Qtrs
Inventory write-downs	`InventoryWriteDown`	$171.00K	USD	2 Qtrs
Inventory write-downs	`InventoryWriteDown`	$287.00K	USD	2 Qtrs
Other non-cash adjustments	`OtherNoncashExpense`	$-31.00K	USD	2 Qtrs
Other non-cash adjustments	`OtherNoncashExpense`	$62.00K	USD	2 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$400.00K	USD	2 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$651.00K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$427.00K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$519.00K	USD	2 Qtrs
Other current and non-current assets	`IncreaseDecreaseInOtherCurrentAssets`	$12.00K	USD	2 Qtrs
Other current and non-current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-30.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$248.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$362.00K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-267.00K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$508.00K	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$7.94M	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-713.00K	USD	2 Qtrs
Billings in excess of costs and estimated earnings on uncompleted contracts	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	-	USD	2 Qtrs
Billings in excess of costs and estimated earnings on uncompleted contracts	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-225.00K	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`	$-7.10M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$193.00K	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`	$-193.00K	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`	$6.59M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$6.59M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$5.99M	USD	2 Qtrs
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-697.00K	USD	2 Qtrs
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$6.74M	USD	2 Qtrs
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.09M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.89M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.19M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$8.34M	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`	$7.89M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$7.19M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$8.34M	USD	Point-in-time
Non-cash additions to property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$187.00K	USD	2 Qtrs
Non-cash additions to property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$116.00K	USD	2 Qtrs

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