10-Q Filing

MICROVISION, INC. CIK: 65770 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001136261-21-000060`
Period End Date	20210331
Filing Date	20210430
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	mvis-20210331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 79 Income Statement 24 Cash Flow Statement 56 Stockholders Equity 15

Balance Sheet 79 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable, current	`AllowanceForDoubtfulAccountsReceivableCurrent`	-	USD	Point-in-time
Allowance for doubtful accounts receivable, current	`AllowanceForDoubtfulAccountsReceivableCurrent`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.86M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$75.34M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$565.00K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$698.00K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$17.56M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$75.90M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	25.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.88M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.25M	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
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Operating lease right-of-use asset	`OperatingLeaseRightOfUseAsset`	$946.00K	USD	Point-in-time
Operating lease right-of-use asset	`OperatingLeaseRightOfUseAsset`	$851.00K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$435.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	210.00M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsNoncurrent`	$435.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	210.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	152.93M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	157.95M	shares	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$164.00K	USD	Point-in-time
Intangible assets	`IntangibleAssetsNetExcludingGoodwill`	$152.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$18.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	157.95M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$25.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	152.93M	shares	Point-in-time
Total assets	`Assets`	$21.01M	USD	Point-in-time
Total assets	`Assets`	$79.61M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$698.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$630.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$495.00K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$710.00K	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiability`	$7.76M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiability`	$7.29M	USD	Point-in-time
Current portion of long-term debt	`UnsecuredDebtCurrent`	$699.00K	USD	Point-in-time
Current portion of long-term debt	`UnsecuredDebtCurrent`	$431.00K	USD	Point-in-time
Current portion of operating lease liability	`OperatingLeaseLiabilityCurrent`	$676.00K	USD	Point-in-time
Current portion of operating lease liability	`OperatingLeaseLiabilityCurrent`	$680.00K	USD	Point-in-time
Current portion of finance lease obligations	`FinanceLeaseLiabilityCurrent`	$28.00K	USD	Point-in-time
Current portion of finance lease obligations	`FinanceLeaseLiabilityCurrent`	$31.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.10M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$10.03M	USD	Point-in-time
Long-term debt, net of current portion	`UnsecuredLongTermDebt`	$886.00K	USD	Point-in-time
Long-term debt, net of current portion	`UnsecuredLongTermDebt`	$1.15M	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$624.00K	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$774.00K	USD	Point-in-time
Finance lease obligations, net of current portion	`FinanceLeaseLiabilityNoncurrent`	$44.00K	USD	Point-in-time
Finance lease obligations, net of current portion	`FinanceLeaseLiabilityNoncurrent`	$39.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$12.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$11.65M	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; 210,000 shares authorized; 157,952 and 152,926 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively	`CommonStockValue`	$158.00K	USD	Point-in-time
Common stock, par value $0.001; 210,000 shares authorized; 157,952 and 152,926 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively	`CommonStockValue`	$153.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$601.22M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$660.27M	USD	Point-in-time
Subscriptions receivable	`CommonStockShareSubscribedButUnissuedSubscriptionsReceivable`	$6.13M	USD	Point-in-time
Subscriptions receivable	`CommonStockShareSubscribedButUnissuedSubscriptionsReceivable`	-	USD	Point-in-time
Accumulated deficit	`RetainedEarningsUnappropriated`	$-592.46M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsUnappropriated`	$-586.23M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$67.96M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$9.01M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$21.01M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$79.61M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.86M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$75.34M	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`	$2.76M	USD	Point-in-time
Cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.30M	USD	Point-in-time
Cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.27M	USD	Point-in-time
Cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$75.77M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$479.00K	USD	1 Quarter
Revenues	`Revenues`	$1.47M	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$-5.00K	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$1.40M	USD	1 Quarter
Gross profit	`GrossProfit`	$484.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$70.00K	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$3.68M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$4.46M	USD	1 Quarter
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$1.77M	USD	1 Quarter
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$2.25M	USD	1 Quarter
Gain on disposal of fixed assets	`GainLossOnDispositionOfAssets`	$450.00K	USD	1 Quarter
Gain on disposal of fixed assets	`GainLossOnDispositionOfAssets`	-	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$6.71M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.00M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.93M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-6.22M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-6.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.93M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.23M	USD	1 Quarter
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.04	USD	1 Quarter
Net loss per share - basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.04	USD	1 Quarter
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	155.45M	shares	1 Quarter
Weighted-average shares outstanding - basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	127.21M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.93M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.23M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$246.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$299.00K	USD	1 Quarter
Gain on disposal of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	1 Quarter
Gain on disposal of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-450.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$189.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$1.64M	USD	1 Quarter
Non-cash interest expense	`PaidInKindInterest`	$3.00K	USD	1 Quarter
Non-cash interest expense	`PaidInKindInterest`	-	USD	1 Quarter
Inventory write-downs	`InventoryWriteDown`	$168.00K	USD	1 Quarter
Inventory write-downs	`InventoryWriteDown`	-	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	-	USD	1 Quarter
Accounts receivable, net	`IncreaseDecreaseInAccountsReceivable`	$-527.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	-	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-24.00K	USD	1 Quarter
Other current and non-current assets	`IncreaseDecreaseInOtherCurrentAssets`	$126.00K	USD	1 Quarter
Other current and non-current assets	`IncreaseDecreaseInOtherCurrentAssets`	$451.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$64.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$242.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-1.21M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$215.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$-6.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	1 Quarter
Other currrent liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-479.00K	USD	1 Quarter
Other currrent liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-525.00K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-161.00K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOtherCurrentLiabilities`	$-166.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.53M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-5.44M	USD	1 Quarter
Proceeds on sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Proceeds on sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$525.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$565.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquireOtherPropertyPlantAndEquipment`	$75.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-565.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$450.00K	USD	1 Quarter
Principal payments under finance leases	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$8.00K	USD	1 Quarter
Principal payments under finance leases	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$6.00K	USD	1 Quarter
Payments received on subscriptions receivable	`ProceedsFromIssuanceOrSaleOfEquity`	$6.13M	USD	1 Quarter
Payments received on subscriptions receivable	`ProceedsFromIssuanceOrSaleOfEquity`	-	USD	1 Quarter
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$57.45M	USD	1 Quarter
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.48M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$1.48M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$63.57M	USD	1 Quarter
Change in cash and cash equivalents, and restricted cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-3.51M	USD	1 Quarter
Change in cash and cash equivalents, and restricted cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$58.48M	USD	1 Quarter
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.76M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.30M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.27M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$75.77M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.76M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.30M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.27M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$75.77M	USD	Point-in-time
Non-cash additions to property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$85.00K	USD	1 Quarter
Non-cash additions to property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$37.00K	USD	1 Quarter

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Beginning balances	`StockholdersEquity`	$-3.98M	USD	Point-in-time
Beginning balances	`StockholdersEquity`	$67.96M	USD	Point-in-time
Beginning balances	`StockholdersEquity`	$9.01M	USD	Point-in-time
Beginning balances	`StockholdersEquity`	$-7.27M	USD	Point-in-time
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$156.00K	USD	1 Quarter
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$1.64M	USD	1 Quarter
Exercise of options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$2.08M	USD	1 Quarter
Sales of common stock	`StockIssuedDuringPeriodValueNewIssues`	$61.46M	USD	1 Quarter
Sales of common stock	`StockIssuedDuringPeriodValueNewIssues`	$1.48M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.93M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.23M	USD	1 Quarter
Ending balances	`StockholdersEquity`	$-3.98M	USD	Point-in-time
Ending balances	`StockholdersEquity`	$67.96M	USD	Point-in-time
Ending balances	`StockholdersEquity`	$9.01M	USD	Point-in-time
Ending balances	`StockholdersEquity`	$-7.27M	USD	Point-in-time

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