10-Q Filing

MICROVISION, INC. CIK: 65770 Q3 2016

Filing Information

Form Type	10-Q
Accession Number	`0001136261-16-000647`
Period End Date	20160930
Filing Date	20161102
Fiscal Year	2016
Fiscal Period	Q3
XBRL Instance	mvis-20160930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 65 Income Statement 64 Cash Flow Statement 52

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`	$39.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.89M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$8.35M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.80M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.16M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net of allowances of $39 and $38, respectively	`AccountsReceivableNetCurrent`	$1.69M	USD	Point-in-time
Accounts receivable, net of allowances of $39 and $38, respectively	`AccountsReceivableNetCurrent`	$1.82M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	$1.25M	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`	$862.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$638.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$461.00K	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
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$9.34M	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
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.37M	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`	53.94M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$435.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	47.42M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	53.94M	shares	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$845.00K	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$750.00K	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`	$11.91M	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`	$2.15M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$3.24M	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`	$2.18M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.70M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.58M	USD	Point-in-time
Deferred revenue, net of current portion	`DeferredRevenueNoncurrent`	$6.15M	USD	Point-in-time
Deferred revenue, net of current portion	`DeferredRevenueNoncurrent`	$5.40M	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$342.00K	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$226.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$13.20M	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; 53,944 and 47,423 shares issued and outstanding	`CommonStockValue`	$47.00K	USD	Point-in-time
Common stock, par value $0.001; 100,000 shares authorized; 53,944 and 47,423 shares issued and outstanding	`CommonStockValue`	$54.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$483.17M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$493.12M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsUnappropriated`	$-483.37M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsUnappropriated`	$-494.47M	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-153.00K	USD	Point-in-time
Total shareholders' deficit	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-1.30M	USD	Point-in-time
Total liabilities and shareholders' deficit	`LiabilitiesAndStockholdersEquity`	$14.04M	USD	Point-in-time
Total liabilities and shareholders' deficit	`LiabilitiesAndStockholdersEquity`	$11.91M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Product revenue	`SalesRevenueGoodsNet`	$2.08M	USD	1 Quarter
Product revenue	`SalesRevenueGoodsNet`	$5.00M	USD	3 Qtrs
Product revenue	`SalesRevenueGoodsNet`	$3.62M	USD	1 Quarter
Product revenue	`SalesRevenueGoodsNet`	$10.30M	USD	3 Qtrs
Royalty revenue	`RoyaltyRevenue`	$777.00K	USD	3 Qtrs
Royalty revenue	`RoyaltyRevenue`	$331.00K	USD	1 Quarter
Royalty revenue	`RoyaltyRevenue`	$1.48M	USD	3 Qtrs
Royalty revenue	`RoyaltyRevenue`	$309.00K	USD	1 Quarter
Contract revenue	`ContractsRevenue`	$1.56M	USD	3 Qtrs
Contract revenue	`ContractsRevenue`	$11.00K	USD	1 Quarter
Contract revenue	`ContractsRevenue`	$52.00K	USD	1 Quarter
Contract revenue	`ContractsRevenue`	$72.00K	USD	3 Qtrs
Total revenue	`Revenues`	$2.40M	USD	1 Quarter
Total revenue	`Revenues`	$4.00M	USD	1 Quarter
Total revenue	`Revenues`	$11.86M	USD	3 Qtrs
Total revenue	`Revenues`	$7.34M	USD	3 Qtrs
Cost of product revenue	`CostOfGoodsSold`	$4.92M	USD	3 Qtrs
Cost of product revenue	`CostOfGoodsSold`	$1.81M	USD	1 Quarter
Cost of product revenue	`CostOfGoodsSold`	$2.77M	USD	1 Quarter
Cost of product revenue	`CostOfGoodsSold`	$7.94M	USD	3 Qtrs
Cost of contract revenue	`ContractRevenueCost`	$26.00K	USD	1 Quarter
Cost of contract revenue	`ContractRevenueCost`	$32.00K	USD	3 Qtrs
Cost of contract revenue	`ContractRevenueCost`	$3.00K	USD	1 Quarter
Cost of contract revenue	`ContractRevenueCost`	$792.00K	USD	3 Qtrs
Total cost of revenue	`CostOfRevenue`	$1.81M	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$2.79M	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$5.71M	USD	3 Qtrs
Total cost of revenue	`CostOfRevenue`	$7.97M	USD	3 Qtrs
Gross profit	`GrossProfit`	$1.63M	USD	3 Qtrs
Gross profit	`GrossProfit`	$585.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$3.88M	USD	3 Qtrs
Gross profit	`GrossProfit`	$1.21M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$6.14M	USD	3 Qtrs
Research and development expense	`ResearchAndDevelopmentExpense`	$2.23M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$8.53M	USD	3 Qtrs
Research and development expense	`ResearchAndDevelopmentExpense`	$3.05M	USD	1 Quarter
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$6.47M	USD	3 Qtrs
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$1.87M	USD	1 Quarter
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$2.23M	USD	1 Quarter
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$5.74M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$4.10M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.28M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$11.88M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$15.00M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-3.52M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-10.25M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-4.08M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-11.12M	USD	3 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$7.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$7.00K	USD	3 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$6.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$15.00K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-4.07M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-11.10M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-3.51M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-10.24M	USD	3 Qtrs
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.08	USD	1 Quarter
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.22	USD	3 Qtrs
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.22	USD	3 Qtrs
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.07	USD	1 Quarter
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	46.29M	shares	3 Qtrs
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	47.22M	shares	1 Quarter
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	52.11M	shares	1 Quarter
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	50.42M	shares	3 Qtrs

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.07M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-11.10M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-3.51M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-10.24M	USD	3 Qtrs
Depreciation	`Depreciation`	$602.00K	USD	3 Qtrs
Depreciation	`Depreciation`	$297.00K	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$95.00K	USD	3 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$96.00K	USD	3 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$980.00K	USD	3 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$718.00K	USD	3 Qtrs
Inventory write-downs	`InventoryWriteDown`	$187.00K	USD	3 Qtrs
Inventory write-downs	`InventoryWriteDown`	$287.00K	USD	3 Qtrs
Other non-cash adjustments	`OtherNoncashIncomeExpense`	$46.00K	USD	3 Qtrs
Other non-cash adjustments	`OtherNoncashIncomeExpense`	$-47.00K	USD	3 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-95.00K	USD	3 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$134.00K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$577.00K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$440.00K	USD	3 Qtrs
Other current and non-current assets	`IncreaseDecreaseInOtherCurrentAssets`	$177.00K	USD	3 Qtrs
Other current and non-current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-43.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-145.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-53.00K	USD	3 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-6.00K	USD	3 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-303.00K	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$7.40M	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-685.00K	USD	3 Qtrs
Billings on uncompleted contracts in excess of related costs	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-225.00K	USD	3 Qtrs
Billings on uncompleted contracts in excess of related costs	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	-	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-10.86M	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.16M	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$282.00K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$1.01M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-282.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.01M	USD	3 Qtrs
Net proceeds from issuance of common stock and warrants	`ProceedsFromIssuanceOfCommonStock`	$9.05M	USD	3 Qtrs
Net proceeds from issuance of common stock and warrants	`ProceedsFromIssuanceOfCommonStock`	$5.98M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$5.98M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$9.05M	USD	3 Qtrs
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.08M	USD	3 Qtrs
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.81M	USD	3 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$7.89M	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`	$5.80M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.16M	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`	$8.35M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.80M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.16M	USD	Point-in-time
Non-cash additions to property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$276.00K	USD	3 Qtrs
Non-cash additions to property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$155.00K	USD	3 Qtrs
Issuance of common stock for commitment fee	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$721.00K	USD	3 Qtrs
Issuance of common stock for commitment fee	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	-	USD	3 Qtrs

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