10-Q Filing

MICROVISION, INC. CIK: 65770 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001136261-18-000123`
Period End Date	20180331
Filing Date	20180510
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	mvis-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 77 Income Statement 30 Cash Flow Statement 48

Balance Sheet 77 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`	$7.23M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.97M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net of allowances of $26 and $26, respectively	`AccountsReceivableNetCurrent`	$2.50M	USD	Point-in-time
Accounts receivable, net of allowances of $26 and $26, respectively	`AccountsReceivableNetCurrent`	$15.00K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Costs and estimated earnings in excess of billings on uncompleted contracts	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$680.00K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Costs and estimated earnings in excess of billings on uncompleted contracts	`CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear`	$258.00K	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
Inventory	`InventoryNet`	$4.54M	USD	Point-in-time
Inventory	`InventoryNet`	$4.52M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.55M	USD	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
Other current assets	`OtherAssetsCurrent`	$1.01M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$23.22M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$16.05M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	78.61M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	78.60M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.25M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.95M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$435.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$435.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	78.61M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	78.60M	shares	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$573.00K	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$602.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.51M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.26M	USD	Point-in-time
Total assets	`Assets`	$22.52M	USD	Point-in-time
Total assets	`Assets`	$29.77M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.99M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.06M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$6.61M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$5.86M	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	-	USD	Point-in-time
Billings on uncompleted contracts in excess of related costs	`BillingsInExcessOfCostCurrent`	$4.00K	USD	Point-in-time
Billings on uncompleted contracts in excess of related costs	`BillingsInExcessOfCostCurrent`	$5.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$10.14M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$10.10M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$18.70M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$19.07M	USD	Point-in-time
Deferred revenue, net of current portion	`DeferredRevenueNoncurrent`	-	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$302.00K	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$366.00K	USD	Point-in-time
Other long-term liabilities	`LiabilitiesOtherThanLongtermDebtNoncurrent`	$163.00K	USD	Point-in-time
Other long-term liabilities	`LiabilitiesOtherThanLongtermDebtNoncurrent`	$305.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$19.23M	USD	Point-in-time
Total liabilities	`Liabilities`	$19.68M	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, par value $0.001; 25,000 shares authorized; zero and zero shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $0.001; 25,000 shares authorized; zero and zero shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $0.001; 100,000 shares authorized; 78,613 and 78,597 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$79.00K	USD	Point-in-time
Common stock, par value $0.001; 100,000 shares authorized; 78,613 and 78,597 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$79.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$529.21M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$528.87M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsUnappropriated`	$-526.00M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsUnappropriated`	$-518.87M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.29M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$10.09M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$29.77M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$22.52M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.23M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.97M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$435.00K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$435.00K	USD	Point-in-time
Cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$15.57M	USD	Point-in-time
Cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.09M	USD	Point-in-time
Cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.66M	USD	Point-in-time
Cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.40M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Royalty revenue	`RoyaltyRevenue`	$97.00K	USD	1 Quarter
Royalty revenue	`RoyaltyRevenue`	$11.00K	USD	1 Quarter
Contract revenue	`ContractsRevenue`	$471.00K	USD	1 Quarter
Contract revenue	`ContractsRevenue`	$2.18M	USD	1 Quarter
Total revenue	`Revenues`	$2.19M	USD	1 Quarter
Total revenue	`Revenues`	$568.00K	USD	1 Quarter
Cost of product revenue	`CostOfGoodsSold`	$238.00K	USD	1 Quarter
Cost of product revenue	`CostOfGoodsSold`	$213.00K	USD	1 Quarter
Cost of contract revenue	`ContractRevenueCost`	$1.64M	USD	1 Quarter
Cost of contract revenue	`ContractRevenueCost`	$403.00K	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$1.87M	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$616.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$-48.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$315.00K	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$3.32M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$4.83M	USD	1 Quarter
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$2.61M	USD	1 Quarter
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$2.58M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.90M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$7.43M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-5.95M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-7.12M	USD	1 Quarter
Other expenses, net	`OtherNonoperatingExpense`	$3.00K	USD	1 Quarter
Other expenses, net	`OtherNonoperatingExpense`	$12.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.95M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.13M	USD	1 Quarter
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.09	USD	1 Quarter
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.09	USD	1 Quarter
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	78.61M	shares	1 Quarter
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	68.11M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-5.95M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-7.13M	USD	1 Quarter
Depreciation	`Depreciation`	$85.00K	USD	1 Quarter
Depreciation	`Depreciation`	$419.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$29.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$29.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$310.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$320.00K	USD	1 Quarter
Inventory write-downs	`InventoryWriteDown`	-	USD	1 Quarter
Inventory write-downs	`InventoryWriteDown`	$4.00K	USD	1 Quarter
Other non-cash adjustments	`OtherNoncashIncomeExpense`	$-16.00K	USD	1 Quarter
Other non-cash adjustments	`OtherNoncashIncomeExpense`	$-10.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-85.00K	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$2.49M	USD	1 Quarter
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInCostInExcessOfBillingOnUncompletedContract`	$-422.00K	USD	1 Quarter
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInCostInExcessOfBillingOnUncompletedContract`	$256.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$819.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-18.00K	USD	1 Quarter
Other current and non-current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-702.00K	USD	1 Quarter
Other current and non-current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-79.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-320.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-1.01M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$755.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$315.00K	USD	1 Quarter
Billings on uncompleted contracts in excess of related costs	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-106.00K	USD	1 Quarter
Billings on uncompleted contracts in excess of related costs	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$-1.00K	USD	1 Quarter
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-8.00K	USD	1 Quarter
Other current liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-39.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-142.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	-	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-9.56M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.73M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$755.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$182.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-755.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-182.00K	USD	1 Quarter
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-9.74M	USD	1 Quarter
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-7.48M	USD	1 Quarter
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$15.57M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.09M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.66M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.40M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$15.57M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.09M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.66M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.40M	USD	Point-in-time
Non-cash additions to property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$101.00K	USD	1 Quarter
Non-cash additions to property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$713.00K	USD	1 Quarter

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