维视图像 2025年季度报告

FORM10-Q For the quarterly period endedMarch 31,2025 OR MicroVision, Inc. (Exact name of registrant as specified in its charter) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file reports), and YES☒NO☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the YES☒NO☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting Large accelerated filer☐Non-accelerated filer☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). The number of shares of the registrant’s common stock outstanding as of May 5, 2025 was249,261,553. MicroVision, Inc.Condensed Consolidated Balance Sheets(In thousands, except per share data) MicroVision, Inc.Notes to Condensed Consolidated Financial Statements 1.DESCRIPTION OF BUSINESS MicroVision, Inc. is committed to driving the global adoption of proprietary products, which leverage deterministic AI at the edge withthe Company’s innovative perception and application software running on diverse lidar sensors. The Company’s solutions enableADAS and autonomy features for customers in a wide range of industries including robotics, automated warehouse, agriculture,mining, military, and automotive. The Company’s deterministic AI at the edge software running on sensors enables intelligentautonomous, active safety, and automation systems which depend on secure, cost-effective and energy-efficient solutions. This With engineering teams based in Redmond, Washington and Hamburg, Germany, the Company develops and supplies integratedsolutions built on the perception software stack, incorporating application software and processing data from differentiated sensorsystems. The Company’s extensive experience in developing and productizing core lidar hardware and software components, along Liquidity The Company has incurred significant losses since inception. Operations to date have been funded primarily through the sale ofcommon stock, convertible preferred stock, warrants, the issuance of convertible debt and, to a lesser extent, from development As of March 31, 2025, the Company had total liquidity of $69.0million including $51.9million in cash and cash equivalents and$17.1million in short-term investment securities. In addition, the Company has approximately $113.4million availability under itscurrent at-the-market (“ATM”) facility as of March 31, 2025, subject to certain market conditions, such as trading prices and volumes.On October 23, 2024, the Company issued $45.0million in senior secured convertible notes for gross proceeds of $41.4million andhas a remaining commitment pursuant to the convertible note facility of $30.0million, subject to certain limitations, includingsufficient authorized capital (seeNote 6. Notes Payable and Derivative Liability). On February 4, 2025, the Company sold shares of 2.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation and Basis of Presentation The unaudited condensed consolidated financial statements and accompanying notes include the accounts of the Company and itswholly owned subsidiaries, after elimination of all intercompany balances and transactions. The accompanying unaudited condensedconsolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States(“US GAAP”) and the requirements of the U.S. Securities and Exchange Commission (the “SEC”) for interim financial information.Certain information and disclosures normally included in consolidated financial statements prepared in accordance with GAAP have The unaudited condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financialstatements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary forthe fair statement of the Company’s financial information for the interim periods presented. The unaudited condensed consolidated Use of Estimates The preparation of financial statements in conformity with U.S. GAAP require