10-Q Filing

MICROVISION, INC. CIK: 65770 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001136261-17-000163`
Period End Date	20170630
Filing Date	20170803
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	mvis-20170630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 64 Cash Flow Statement 54

Balance Sheet 71 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable, current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$26.00K	USD	Point-in-time
Allowance for doubtful accounts receivable, current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$26.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.14M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.74M	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
Accounts receivable, net of allowances of $26 and $26, respectively	`AccountsReceivableNetCurrent`	$805.00K	USD	Point-in-time
Accounts receivable, net of allowances of $26 and $26, respectively	`AccountsReceivableNetCurrent`	$245.00K	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
Inventory	`InventoryNet`	$2.68M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Inventory	`InventoryNet`	$1.23M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$4.23M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$731.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$17.35M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$25.46M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.30M	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`	$1.54M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	71.60M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$435.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$435.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	68.09M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	68.09M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	71.60M	shares	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$718.00K	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$660.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$58.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$68.00K	USD	Point-in-time
Total assets	`Assets`	$20.11M	USD	Point-in-time
Total assets	`Assets`	$29.91M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.85M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.19M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$3.70M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$4.71M	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$999.00K	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$999.00K	USD	Point-in-time
Billings on uncompleted contracts in excess of related costs	`BillingsInExcessOfCostCurrent`	$3.67M	USD	Point-in-time
Billings on uncompleted contracts in excess of related costs	`BillingsInExcessOfCostCurrent`	$168.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$10.07M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$178.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.24M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$21.29M	USD	Point-in-time
Deferred revenue, net of current portion	`DeferredRevenueNoncurrent`	$4.65M	USD	Point-in-time
Deferred revenue, net of current portion	`DeferredRevenueNoncurrent`	$5.15M	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$102.00K	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$185.00K	USD	Point-in-time
Other long-term liabilities	`LiabilitiesOtherThanLongtermDebtNoncurrent`	$36.00K	USD	Point-in-time
Other long-term liabilities	`LiabilitiesOtherThanLongtermDebtNoncurrent`	$53.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$26.09M	USD	Point-in-time
Total liabilities	`Liabilities`	$12.63M	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; 71,596 and 68,093 shares issued and outstanding	`CommonStockValue`	$72.00K	USD	Point-in-time
Common stock, par value $0.001; 100,000 shares authorized; 71,596 and 68,093 shares issued and outstanding	`CommonStockValue`	$68.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$507.25M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$514.74M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsUnappropriated`	$-499.84M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsUnappropriated`	$-510.98M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$7.47M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.83M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$20.11M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$29.91M	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`	-	USD	1 Quarter
Product revenue	`SalesRevenueGoodsNet`	$3.53M	USD	1 Quarter
Product revenue	`SalesRevenueGoodsNet`	-	USD	2 Qtrs
Royalty revenue	`RoyaltyRevenue`	$1.15M	USD	2 Qtrs
Royalty revenue	`RoyaltyRevenue`	$881.00K	USD	2 Qtrs
Royalty revenue	`RoyaltyRevenue`	$346.00K	USD	1 Quarter
Royalty revenue	`RoyaltyRevenue`	$609.00K	USD	1 Quarter
Contract revenue	`ContractsRevenue`	$1.11M	USD	1 Quarter
Contract revenue	`ContractsRevenue`	$20.00K	USD	2 Qtrs
Contract revenue	`ContractsRevenue`	$16.00K	USD	1 Quarter
Contract revenue	`ContractsRevenue`	$1.36M	USD	2 Qtrs
Total revenue	`Revenues`	$7.86M	USD	2 Qtrs
Total revenue	`Revenues`	$1.45M	USD	1 Quarter
Total revenue	`Revenues`	$2.25M	USD	2 Qtrs
Total revenue	`Revenues`	$4.16M	USD	1 Quarter
Cost of product revenue	`CostOfGoodsSold`	$348.00K	USD	2 Qtrs
Cost of product revenue	`CostOfGoodsSold`	$5.17M	USD	2 Qtrs
Cost of product revenue	`CostOfGoodsSold`	$2.59M	USD	1 Quarter
Cost of product revenue	`CostOfGoodsSold`	$135.00K	USD	1 Quarter
Cost of contract revenue	`ContractRevenueCost`	$810.00K	USD	1 Quarter
Cost of contract revenue	`ContractRevenueCost`	$1.14M	USD	2 Qtrs
Cost of contract revenue	`ContractRevenueCost`	$6.00K	USD	2 Qtrs
Cost of contract revenue	`ContractRevenueCost`	$5.00K	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$1.48M	USD	2 Qtrs
Total cost of revenue	`CostOfRevenue`	$2.59M	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$945.00K	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$5.18M	USD	2 Qtrs
Gross profit	`GrossProfit`	$1.56M	USD	1 Quarter
Gross profit	`GrossProfit`	$508.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$2.67M	USD	2 Qtrs
Gross profit	`GrossProfit`	$762.00K	USD	2 Qtrs
Research and development expense	`ResearchAndDevelopmentExpense`	$5.48M	USD	2 Qtrs
Research and development expense	`ResearchAndDevelopmentExpense`	$2.88M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$3.67M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$6.99M	USD	2 Qtrs
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$4.91M	USD	2 Qtrs
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$2.17M	USD	1 Quarter
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$4.24M	USD	2 Qtrs
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$2.33M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$6.00M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$11.89M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$5.05M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$9.71M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-5.49M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-11.13M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-3.49M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-7.04M	USD	2 Qtrs
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-8.00K	USD	2 Qtrs
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$11.00K	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-5.00K	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$8.00K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-11.14M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-7.03M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-5.49M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.48M	USD	1 Quarter
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.14	USD	2 Qtrs
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.16	USD	2 Qtrs
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.08	USD	1 Quarter
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.07	USD	1 Quarter
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	68.75M	shares	2 Qtrs
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	69.37M	shares	1 Quarter
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	49.57M	shares	2 Qtrs
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	51.57M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-11.14M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-7.03M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-5.49M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.48M	USD	1 Quarter
Depreciation	`Depreciation`	$172.00K	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`	$58.00K	USD	2 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$674.00K	USD	2 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$703.00K	USD	2 Qtrs
Inventory write-downs	`InventoryWriteDown`	$171.00K	USD	2 Qtrs
Inventory write-downs	`InventoryWriteDown`	$37.00K	USD	2 Qtrs
Other non-cash adjustments	`OtherNoncashIncomeExpense`	$62.00K	USD	2 Qtrs
Other non-cash adjustments	`OtherNoncashIncomeExpense`	$-31.00K	USD	2 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$560.00K	USD	2 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$400.00K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$1.48M	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$427.00K	USD	2 Qtrs
Other current and non-current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-3.47M	USD	2 Qtrs
Other current and non-current assets	`IncreaseDecreaseInOtherCurrentAssets`	$12.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$362.00K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-277.00K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-150.00K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$954.00K	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-713.00K	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-496.00K	USD	2 Qtrs
Billings in excess of costs and estimated earnings on uncompleted contracts	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$3.50M	USD	2 Qtrs
Billings in excess of costs and estimated earnings on uncompleted contracts	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	-	USD	2 Qtrs
Other currrent liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$9.89M	USD	2 Qtrs
Other currrent liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-117.00K	USD	2 Qtrs
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-17.00K	USD	2 Qtrs
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	-	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-7.10M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.16M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$193.00K	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$2.00M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-193.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.00M	USD	2 Qtrs
Net proceeds from issuance of common stock and warrants	`ProceedsFromIssuanceOfCommonStock`	$6.59M	USD	2 Qtrs
Net proceeds from issuance of common stock and warrants	`ProceedsFromIssuanceOfCommonStock`	$6.76M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$6.76M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$6.59M	USD	2 Qtrs
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.60M	USD	2 Qtrs
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-697.00K	USD	2 Qtrs
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.14M	USD	Point-in-time
Cash and cash equivalents, at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$17.74M	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 end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.14M	USD	Point-in-time
Cash and cash equivalents, at end of period	`CashAndCashEquivalentsAtCarryingValue`	$17.74M	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
Non-cash additions to property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$285.00K	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.