10-Q Filing

MICROVISION, INC. CIK: 65770 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001136261-18-000193`
Period End Date	20180630
Filing Date	20180801
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	mvis-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 64 Cash Flow Statement 56

Balance Sheet 82 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`	$7.19M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.97M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.99M	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
Accounts receivable, net of allowances of $0 and $26, respectively	`AccountsReceivableNetCurrent`	$15.00K	USD	Point-in-time
Accounts receivable, net of allowances of $0 and $26, respectively	`AccountsReceivableNetCurrent`	$2.67M	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`	-	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Inventory	`InventoryNet`	$4.54M	USD	Point-in-time
Inventory	`InventoryNet`	$4.50M	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`	$1.01M	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`	$1.22M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$23.22M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$29.39M	USD	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`	$3.12M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	93.07M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	93.07M	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 outstanding	`CommonStockSharesOutstanding`	78.60M	shares	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$602.00K	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$544.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.26M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$2.50M	USD	Point-in-time
Total assets	`Assets`	$35.99M	USD	Point-in-time
Total assets	`Assets`	$29.77M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.27M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.06M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$6.16M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$5.86M	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	-	USD	Point-in-time
Deferred revenue	`DeferredRevenue`	$5.00M	USD	Point-in-time
Billings on uncompleted contracts in excess of related costs	`BillingsInExcessOfCostCurrent`	$5.00K	USD	Point-in-time
Billings on uncompleted contracts in excess of related costs	`BillingsInExcessOfCostCurrent`	$446.00K	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$10.14M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$10.06M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$23.94M	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`	$416.00K	USD	Point-in-time
Deferred rent, net of current portion	`DeferredRentCreditNoncurrent`	$302.00K	USD	Point-in-time
Other long-term liabilities	`LiabilitiesOtherThanLongtermDebtNoncurrent`	$21.00K	USD	Point-in-time
Other long-term liabilities	`LiabilitiesOtherThanLongtermDebtNoncurrent`	$305.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$19.68M	USD	Point-in-time
Total liabilities	`Liabilities`	$24.38M	USD	Point-in-time
Commitments and contingencies (Note 8)	`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; 150,000 shares authorized; 93,073 and 78,597 shares issued and outstanding at June 30, 2018 and December 31, 2017, respectively	`CommonStockValue`	$79.00K	USD	Point-in-time
Common stock, par value $0.001; 150,000 shares authorized; 93,073 and 78,597 shares issued and outstanding at June 30, 2018 and December 31, 2017, respectively	`CommonStockValue`	$93.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$545.98M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$528.87M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsUnappropriated`	$-518.87M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsUnappropriated`	$-534.46M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$10.09M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$11.61M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$35.99M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$29.77M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.19M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.97M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.99M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.89M	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`	$18.18M	USD	Point-in-time
Cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$21.43M	USD	Point-in-time
Cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.40M	USD	Point-in-time
Cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$15.57M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Product revenue	`SalesRevenueGoodsNet`	$45.00K	USD	1 Quarter
Product revenue	`SalesRevenueGoodsNet`	-	USD	1 Quarter
Product revenue	`SalesRevenueGoodsNet`	$45.00K	USD	2 Qtrs
Product revenue	`SalesRevenueGoodsNet`	-	USD	2 Qtrs
Royalty revenue	`RoyaltyRevenue`	-	USD	1 Quarter
Royalty revenue	`RoyaltyRevenue`	$11.00K	USD	2 Qtrs
Royalty revenue	`RoyaltyRevenue`	$106.00K	USD	1 Quarter
Royalty revenue	`RoyaltyRevenue`	$203.00K	USD	2 Qtrs
Contract revenue	`ContractsRevenue`	$2.01M	USD	1 Quarter
Contract revenue	`ContractsRevenue`	$4.19M	USD	2 Qtrs
Contract revenue	`ContractsRevenue`	$1.66M	USD	2 Qtrs
Contract revenue	`ContractsRevenue`	$1.19M	USD	1 Quarter
Total revenue	`Revenues`	$2.01M	USD	1 Quarter
Total revenue	`Revenues`	$4.20M	USD	2 Qtrs
Total revenue	`Revenues`	$1.91M	USD	2 Qtrs
Total revenue	`Revenues`	$1.34M	USD	1 Quarter
Cost of product revenue	`CostOfGoodsSold`	$181.00K	USD	1 Quarter
Cost of product revenue	`CostOfGoodsSold`	$564.00K	USD	2 Qtrs
Cost of product revenue	`CostOfGoodsSold`	$394.00K	USD	2 Qtrs
Cost of product revenue	`CostOfGoodsSold`	$326.00K	USD	1 Quarter
Cost of contract revenue	`ContractRevenueCost`	$812.00K	USD	1 Quarter
Cost of contract revenue	`ContractRevenueCost`	$1.22M	USD	2 Qtrs
Cost of contract revenue	`ContractRevenueCost`	$1.35M	USD	1 Quarter
Cost of contract revenue	`ContractRevenueCost`	$2.99M	USD	2 Qtrs
Total cost of revenue	`CostOfRevenue`	$993.00K	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$1.61M	USD	2 Qtrs
Total cost of revenue	`CostOfRevenue`	$3.55M	USD	2 Qtrs
Total cost of revenue	`CostOfRevenue`	$1.68M	USD	1 Quarter
Gross profit	`GrossProfit`	$346.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$333.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$648.00K	USD	2 Qtrs
Gross profit	`GrossProfit`	$298.00K	USD	2 Qtrs
Research and development expense	`ResearchAndDevelopmentExpense`	$11.52M	USD	2 Qtrs
Research and development expense	`ResearchAndDevelopmentExpense`	$3.67M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$6.99M	USD	2 Qtrs
Research and development expense	`ResearchAndDevelopmentExpense`	$6.69M	USD	1 Quarter
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$4.91M	USD	2 Qtrs
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$2.09M	USD	1 Quarter
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$2.33M	USD	1 Quarter
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$4.70M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$6.00M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$8.78M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$16.22M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$11.89M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-15.57M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-11.60M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-8.45M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-5.65M	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-5.00K	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-8.00K	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-8.00K	USD	2 Qtrs
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-20.00K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-11.61M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-15.59M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-5.66M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.46M	USD	1 Quarter
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.10	USD	1 Quarter
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.08	USD	1 Quarter
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.17	USD	2 Qtrs
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$0.19	USD	2 Qtrs
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	81.32M	shares	1 Quarter
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	79.97M	shares	2 Qtrs
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	69.37M	shares	1 Quarter
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	68.75M	shares	2 Qtrs

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-11.61M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-15.59M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-5.66M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-8.46M	USD	1 Quarter
Depreciation	`Depreciation`	$852.00K	USD	2 Qtrs
Depreciation	`Depreciation`	$172.00K	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$58.00K	USD	2 Qtrs
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$58.00K	USD	2 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$539.00K	USD	2 Qtrs
Share-based compensation expense	`ShareBasedCompensation`	$703.00K	USD	2 Qtrs
Inventory write-downs	`InventoryWriteDown`	$4.00K	USD	2 Qtrs
Inventory write-downs	`InventoryWriteDown`	$37.00K	USD	2 Qtrs
Other non-cash adjustments	`OtherNoncashIncomeExpense`	$-31.00K	USD	2 Qtrs
Other non-cash adjustments	`OtherNoncashIncomeExpense`	$-23.00K	USD	2 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$604.00K	USD	2 Qtrs
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$2.66M	USD	2 Qtrs
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInCostInExcessOfBillingOnUncompletedContract`	$-680.00K	USD	2 Qtrs
Costs and estimated earnings in excess of billings on uncompleted contracts	`IncreaseDecreaseInCostInExcessOfBillingOnUncompletedContract`	-	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$1.44M	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-32.00K	USD	2 Qtrs
Other current and non-current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-293.00K	USD	2 Qtrs
Other current and non-current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-3.29M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-1.22M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-277.00K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$283.00K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$956.00K	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$5.00M	USD	2 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	2 Qtrs
Billings in excess of costs and estimated earnings on uncompleted contracts	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$3.28M	USD	2 Qtrs
Billings in excess of costs and estimated earnings on uncompleted contracts	`IncreaseDecreaseInBillingInExcessOfCostOfEarnings`	$441.00K	USD	2 Qtrs
Other currrent liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-79.00K	USD	2 Qtrs
Other currrent liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$9.89M	USD	2 Qtrs
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-17.00K	USD	2 Qtrs
Other long-term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-284.00K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-12.25M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-2.16M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$2.00M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$502.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.00M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-502.00K	USD	2 Qtrs
Net proceeds from issuance of common stock and warrants	`ProceedsFromIssuanceOfCommonStock`	$6.76M	USD	2 Qtrs
Net proceeds from issuance of common stock and warrants	`ProceedsFromIssuanceOfCommonStock`	$16.78M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$6.76M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$16.78M	USD	2 Qtrs
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$4.03M	USD	2 Qtrs
Change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.60M	USD	2 Qtrs
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$18.18M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$21.43M	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 beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$15.57M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$18.18M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$21.43M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end 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
Non-cash additions to property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$285.00K	USD	2 Qtrs
Non-cash additions to property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$386.00K	USD	2 Qtrs

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