10-Q Filing

MICROVISION, INC. CIK: 65770 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001136261-22-000185`
Period End Date	20220331
Filing Date	20220429
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	form10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 18 Cash Flow Statement 58 Stockholders Equity 20 Comprehensive Income 6

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	25,000.00	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	25,000.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$55.61M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$82.65M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Investment securities, available-for-sale	`AvailableForSaleSecurities`	$32.72M	USD	Point-in-time
Investment securities, available-for-sale	`AvailableForSaleSecurities`	$47.65M	USD	Point-in-time
Inventory	`InventoryNet`	$1.81M	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
Inventory	`InventoryNet`	$1.78M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	210,000.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$2.28M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	210,000.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$1.86M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	164,887.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$106.94M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$119.43M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	164,363.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.25M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	164,887.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.03M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	164,363.00	shares	Point-in-time
Operating lease right-of-use asset	`OperatingLeaseRightOfUseAsset`	$5.58M	USD	Point-in-time
Operating lease right-of-use asset	`OperatingLeaseRightOfUseAsset`	$5.37M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$1.09M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$1.09M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$115.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$105.00K	USD	Point-in-time
Other assets	`OtherAssets`	$1.01M	USD	Point-in-time
Other assets	`OtherAssets`	$985.00K	USD	Point-in-time
Total assets	`Assets`	$117.77M	USD	Point-in-time
Total assets	`Assets`	$130.22M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.92M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.58M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.17M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.29M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiability`	$5.26M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiability`	$4.92M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$1.18M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$474.00K	USD	Point-in-time
Current portion of long-term debt	`UnsecuredDebtCurrent`	$392.00K	USD	Point-in-time
Current portion of long-term debt	`UnsecuredDebtCurrent`	$98.00K	USD	Point-in-time
Current portion of operating lease liability	`OperatingLeaseLiabilityCurrent`	$686.00K	USD	Point-in-time
Current portion of operating lease liability	`OperatingLeaseLiabilityCurrent`	$849.00K	USD	Point-in-time
Current portion of finance lease obligations	`FinanceLeaseLiabilityCurrent`	$24.00K	USD	Point-in-time
Current portion of finance lease obligations	`FinanceLeaseLiabilityCurrent`	$21.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.46M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.40M	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$4.88M	USD	Point-in-time
Operating lease liability, net of current portion	`OperatingLeaseLiabilityNoncurrent`	$4.98M	USD	Point-in-time
Finance lease obligations, net of current portion	`FinanceLeaseLiabilityNoncurrent`	$26.00K	USD	Point-in-time
Finance lease obligations, net of current portion	`FinanceLeaseLiabilityNoncurrent`	$15.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$14.30M	USD	Point-in-time
Total liabilities	`Liabilities`	$17.47M	USD	Point-in-time
Preferred stock, par value $0.001; 25,000 shares authorized; no and no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $0.001; 25,000 shares authorized; no and no shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $0.001; 210,000 shares authorized; 164,887 and 164,363 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively	`CommonStockValue`	$165.00K	USD	Point-in-time
Common stock, par value $0.001; 210,000 shares authorized; 164,887 and 164,363 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively	`CommonStockValue`	$164.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$746.03M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$742.04M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-124.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-19.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-629.43M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-642.60M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$103.47M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$112.75M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$130.22M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$117.77M	USD	Point-in-time

Income Statement 18 line items

Line Item	Tag	Value	Unit	Period
Total revenue	`Revenues`	$479.00K	USD	1 Quarter
Total revenue	`Revenues`	$350.00K	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$-5.00K	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$4.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$484.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$346.00K	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$7.59M	USD	1 Quarter
Research and development expense	`ResearchAndDevelopmentExpense`	$4.46M	USD	1 Quarter
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$5.88M	USD	1 Quarter
Sales, marketing, general and administrative expense	`SellingGeneralAndAdministrativeExpense`	$2.25M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$13.47M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$6.71M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-13.12M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-6.22M	USD	1 Quarter
Other expenses, net	`OtherNonoperatingIncomeExpense`	$-6.00K	USD	1 Quarter
Other expenses, net	`OtherNonoperatingIncomeExpense`	$-44.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.23M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.17M	USD	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-6.23M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.17M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$299.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$483.00K	USD	1 Quarter
Impairment of property and equipment	`ImpairmentOfLongLivedAssetsHeldForUse`	$60.00K	USD	1 Quarter
Impairment of property and equipment	`ImpairmentOfLongLivedAssetsHeldForUse`	-	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$3.73M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$1.64M	USD	1 Quarter
Non-cash interest expense	`PaidInKindInterest`	-	USD	1 Quarter
Non-cash interest expense	`PaidInKindInterest`	$3.00K	USD	1 Quarter
Net accretion of premium on short-term investments	`AccretionExpense`	$160.00K	USD	1 Quarter
Net accretion of premium on short-term investments	`AccretionExpense`	-	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	-	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-35.00K	USD	1 Quarter
Other current and non-current assets	`IncreaseDecreaseInOtherCurrentAssets`	$126.00K	USD	1 Quarter
Other current and non-current assets	`IncreaseDecreaseInOtherCurrentAssets`	$389.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-1.29M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$64.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$215.00K	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$118.00K	USD	1 Quarter
Contract liabilities and other current liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-479.00K	USD	1 Quarter
Contract liabilities and other current liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-1.06M	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-299.00K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-166.00K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.53M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-10.91M	USD	1 Quarter
Sales of investment securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	-	USD	1 Quarter
Sales of investment securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	$1.50M	USD	1 Quarter
Purchases of investment securities	`PaymentsToAcquireAvailableForSaleSecurities`	$16.70M	USD	1 Quarter
Purchases of investment securities	`PaymentsToAcquireAvailableForSaleSecurities`	-	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$884.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$565.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-565.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-16.08M	USD	1 Quarter
Principal payments under finance leases	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$8.00K	USD	1 Quarter
Principal payments under finance leases	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$8.00K	USD	1 Quarter
Principal payments under long-term debt	`RepaymentsOfLongTermDebt`	$294.00K	USD	1 Quarter
Principal payments under long-term debt	`RepaymentsOfLongTermDebt`	-	USD	1 Quarter
Payments received on subscriptions receivable	`ProceedsFromIssuanceOrSaleOfEquity`	$6.13M	USD	1 Quarter
Payments received on subscriptions receivable	`ProceedsFromIssuanceOrSaleOfEquity`	-	USD	1 Quarter
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$253.00K	USD	1 Quarter
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$2.08M	USD	1 Quarter
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Net proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$55.37M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$63.57M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-49.00K	USD	1 Quarter
Change in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$58.48M	USD	1 Quarter
Change in cash, cash equivalents, and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-27.04M	USD	1 Quarter
Cash, cash equivalents, and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$75.77M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$56.70M	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`	$83.74M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$75.77M	USD	Point-in-time
Cash, cash equivalents, and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$56.70M	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`	$83.74M	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`	$177.00K	USD	1 Quarter

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$9.01M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$112.75M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$103.47M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$67.96M	USD	Point-in-time
Common Stock, Shares, Outstanding, Beginning Balance	`CommonStockSharesOutstanding`	164,887.00	shares	Point-in-time
Common Stock, Shares, Outstanding, Beginning Balance	`CommonStockSharesOutstanding`	164,363.00	shares	Point-in-time
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$3.73M	USD	1 Quarter
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions`	$1.64M	USD	1 Quarter
Exercise of options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$2.08M	USD	1 Quarter
Exercise of options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$253.00K	USD	1 Quarter
Sales of common stock	`StockIssuedDuringPeriodValueNewIssues`	$61.46M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.23M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.17M	USD	1 Quarter
Other comprehensive loss	`OtherComprehensiveIncomeLossNetOfTax`	$-105.00K	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$9.01M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$112.75M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$103.47M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$67.96M	USD	Point-in-time
Common Stock, Shares, Outstanding, Ending Balance	`CommonStockSharesOutstanding`	164,887.00	shares	Point-in-time
Common Stock, Shares, Outstanding, Ending Balance	`CommonStockSharesOutstanding`	164,363.00	shares	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-6.23M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.17M	USD	1 Quarter
Unrealized loss on investment securities, available-for-sale	`UnrealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments`	-	USD	1 Quarter
Unrealized loss on investment securities, available-for-sale	`UnrealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments`	$-105.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-13.27M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-6.23M	USD	1 Quarter

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