MicroVision Files Q3 2024 10-Q Report
Ticker: MVIS · Form: 10-Q · Filed: 2024-11-07T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
MicroVision's Q3 10-Q is in, check financials for latest performance.
AI Summary
MicroVision, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported financial results for the third quarter and the first nine months of the year. Specific financial figures and operational details are provided within the filing.
Why It Matters
This filing provides investors with the latest financial performance and operational updates for MicroVision, Inc., crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: medium — 10-Q filings are standard financial reports, but the specific content can reveal significant financial health indicators or operational challenges.
Key Numbers
- Q3 — Quarterly Period (The report covers the third quarter of 2024.)
- 20240930 — End of Period (The financial data presented is as of this date.)
Key Players & Entities
- MICROVISION, INC. (company) — Filer of the 10-Q report
- 20240930 (date) — End of the reporting period
- 20241107 (date) — Filing date of the report
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240930, indicating the filing covers the period ending September 30, 2024.
When was this 10-Q filed with the SEC?
The filing date is 20241107.
What is the company's Central Index Key (CIK)?
MicroVision, Inc.'s Central Index Key is 0000065770.
What is the company's Standard Industrial Classification (SIC) code?
The SIC code is 3679, categorized under ELECTRONIC COMPONENTS, NEC.
What is the company's fiscal year end?
The fiscal year ends on 1231.
Filing Stats: 4,584 words · 18 min read · ~15 pages · Grade level 14.8 · Accepted 2024-11-07 17:15:24
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) — 1485KB
- ex10-1.htm (EX-10.1) — 30KB
- ex31-1.htm (EX-31.1) — 13KB
- ex31-2.htm (EX-31.2) — 13KB
- ex32-1.htm (EX-32.1) — 6KB
- ex32-2.htm (EX-32.2) — 7KB
- form10-q_001.jpg (GRAPHIC) — 10KB
- 0001493152-24-044052.txt ( ) — 7805KB
- mvis-20240930.xsd (EX-101.SCH) — 44KB
- mvis-20240930_cal.xml (EX-101.CAL) — 75KB
- mvis-20240930_def.xml (EX-101.DEF) — 180KB
- mvis-20240930_lab.xml (EX-101.LAB) — 424KB
- mvis-20240930_pre.xml (EX-101.PRE) — 342KB
- form10-q_htm.xml (XML) — 1525KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements (unaudited)
Item 1. Financial Statements (unaudited) Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Loss for the three and nine months ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Shareholders' Equity for the three and nine months ended September 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the nine months ended September 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 25
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 35
Exhibits
Item 6. Exhibits 36
Signatures
Signatures 37 2 PART I. ITEM 1. FINANCIAL STATEMENTS MicroVision, Inc. Condensed Consolidated Balance Sheets (In thousands, except per share data) (Unaudited) September 30, December 31, 2024 2023 Assets Current assets Cash and cash equivalents $ 16,523 $ 45,167 Investment securities, available-for-sale 26,679 28,611 Restricted cash, current 270 3,263 Accounts receivable, net of allowances 232 949 Inventory 4,486 3,874 Other current assets 4,857 4,890 Total current assets 53,047 86,754 Property and equipment, net 7,668 9,032 Operating lease right-of-use assets 12,090 13,758 Restricted cash, net of current portion 1,572 961 Intangible assets, net 12,563 17,235 Other assets 1,322 1,895 Total assets $ 88,262 $ 129,635 Liabilities and shareholders' equity Current liabilities Accounts payable $ 1,487 $ 2,271 Accrued liabilities 5,893 8,640 Accrued liability for Ibeo business combination - 6,300 Contract liabilities 180 300 Operating lease liabilities, current 2,149 2,323 Other current liabilities 902 669 Total current liabilities 10,611 20,503 Operating lease liabilities, net of current portion 11,662 12,714 Other long-term liabilities 134 614 Total liabilities 22,407 33,831 Commitments and contingencies (Note 10) - - Shareholders' equity Preferred stock, par value $ 0.001 ; 25,000 shares authorized; zero and zero shares issued and outstanding as of September 30, 2024 and December 31, 2023 - - Common stock, par value $ 0.001 ; 310,000 shares authorized; 213,439 and 194,736 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 213 195 Additional paid-in capital 896,424 860,765 Accumulated other comprehensive income 344 210 Accumulated deficit ( 831,126 ) ( 765,366 ) Total shareholders' equity 65,855 95,804 Total liabilities and shareholders' equity $ 88,262 $ 129,635 The accompanying