MicroVision, Inc. Files Q2 2024 10-Q Report
Ticker: MVIS · Form: 10-Q · Filed: 2024-08-08T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, financials, reporting
TL;DR
MicroVision's Q2 10-Q is in. Check financials.
AI Summary
MicroVision, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported financial results for the second quarter and the first half of the year. Specific financial figures and operational details are provided within the filing.
Why It Matters
This filing provides investors and stakeholders with the latest financial performance and operational status of MicroVision, Inc., crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: medium — As a technology company, MicroVision faces inherent risks related to product development, market adoption, and competition, which are detailed in their SEC filings.
Key Numbers
- Q2 2024 — Reporting Period (Financial results for the second quarter of 2024 are detailed.)
- H1 2024 — Reporting Period (Financial results for the first half of 2024 are detailed.)
Key Players & Entities
- MICROVISION, INC. (company) — Filer of the 10-Q report
- 20240630 (date) — End of the reporting period for the 10-Q
- 20240808 (date) — Filing date of the 10-Q
FAQ
What is the reporting period for this 10-Q filing?
The 10-Q filing reports on the period ending June 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on August 8, 2024.
What is MicroVision, Inc.'s fiscal year end?
MicroVision, Inc.'s fiscal year ends on December 31.
What is the company's primary business address?
The company's business address is 18390 NE 68TH STREET, REDMOND, WA 98052.
What is the SEC file number for MicroVision, Inc.?
The SEC file number for MicroVision, Inc. is 001-34170.
Filing Stats: 4,627 words · 19 min read · ~15 pages · Grade level 15.2 · Accepted 2024-08-07 20:20:35
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value per share MVIS The Nasdaq
Filing Documents
- form10-q.htm (10-Q) — 1490KB
- ex10-1.htm (EX-10.1) — 151KB
- ex10-2.htm (EX-10.2) — 12KB
- ex31-1.htm (EX-31.1) — 12KB
- ex31-2.htm (EX-31.2) — 12KB
- ex32-1.htm (EX-32.1) — 6KB
- ex32-2.htm (EX-32.2) — 5KB
- form10-q_001.jpg (GRAPHIC) — 13KB
- 0001493152-24-030625.txt ( ) — 7881KB
- mvis-20240630.xsd (EX-101.SCH) — 43KB
- mvis-20240630_cal.xml (EX-101.CAL) — 73KB
- mvis-20240630_def.xml (EX-101.DEF) — 172KB
- mvis-20240630_lab.xml (EX-101.LAB) — 413KB
- mvis-20240630_pre.xml (EX-101.PRE) — 331KB
- form10-q_htm.xml (XML) — 1515KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements (unaudited)
Item 1. Financial Statements (unaudited) 3 Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Loss for the three and six months ended June 30, 2024 and 2023 5 Condensed Consolidated Statements of Shareholders' Equity for the three and six months ended June 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements 8
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 21
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 25
Controls and Procedures
Item 4. Controls and Procedures 26
OTHER INFORMATION
PART II. OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 26
Risk Factors
Item 1A. Risk Factors 26
Other Information
Item 5. Other Information 34
Exhibits
Item 6. Exhibits 35
Signatures
Signatures 36 2 PART I. ITEM 1. FINANCIAL STATEMENTS MicroVision, Inc. Condensed Consolidated Balance Sheets (In thousands, except per share data) (Unaudited) June 30, December 31, 2024 2023 Assets Current assets Cash and cash equivalents $ 26,748 $ 45,167 Investment securities, available-for-sale 29,934 28,611 Restricted cash, current 73 3,263 Accounts receivable, net of allowances 1,970 949 Inventory 4,203 3,874 Other current assets 3,646 4,890 Total current assets 66,574 86,754 Property and equipment, net 8,131 9,032 Operating lease right-of-use assets 12,348 13,758 Restricted cash, net of current portion 1,961 961 Intangible assets, net 13,081 17,235 Other assets 1,321 1,895 Total assets $ 103,416 $ 129,635 Liabilities and shareholders' equity Current liabilities Accounts payable $ 1,448 $ 2,271 Accrued liabilities 8,894 8,640 Accrued liability for Ibeo business combination - 6,300 Contract liabilities 172 300 Operating lease liabilities, current 2,113 2,323 Other current liabilities 24 669 Total current liabilities 12,651 20,503 Operating lease liabilities, net of current portion 11,936 12,714 Other long-term liabilities 120 614 Total liabilities 24,707 33,831 Commitments and contingencies - - Shareholders' equity Preferred stock, par value $ 0.001 ; 25,000 shares authorized; zero and zero shares issued and outstanding as of June 30, 2024 and December 31, 2023 - - Common stock, par value $ 0.001 ; 310,000 shares authorized; 211,961 and 194,736 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 212 195 Additional paid-in capital 894,005 860,765 Accumulated other comprehensive income 101 210 Accumulated deficit ( 815,609 ) ( 765,366 ) Total shareholders' equity 78,709 95,804 Total liabilities and shareholders' equity $ 103,416 $ 129,635 The accompanying notes are an integral