2024 Q3 Form 10-Q Financial Statement

#000149315224030625 Filed on August 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $190.0K $1.900M
YoY Change -81.85% 477.51%
Cost Of Revenue $583.0K $1.554M
YoY Change -6.72% 121.68%
Gross Profit -$393.0K $346.0K
YoY Change -193.13% -193.01%
Gross Profit Margin -206.84% 18.21%
Selling, General & Admin $6.599M $7.746M
YoY Change -24.52% -20.08%
% of Gross Profit 2238.73%
Research & Development $8.736M $14.20M
YoY Change -43.94% 2.55%
% of Gross Profit 4105.2%
Depreciation & Amortization $600.0K $600.0K
YoY Change -45.45% 25.26%
% of Gross Profit 173.41%
Operating Expenses $15.31M $24.98M
YoY Change -37.03% 6.16%
Operating Profit -$15.71M -$24.63M
YoY Change -34.27% 3.06%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $297.0K $785.0K
YoY Change -53.38% -78.01%
Pretax Income -$15.41M -$23.85M
YoY Change -33.75% 17.29%
Income Tax $108.0K $84.00K
% Of Pretax Income
Net Earnings -$15.52M -$23.93M
YoY Change -33.88% 16.11%
Net Earnings / Revenue -8166.84% -1259.47%
Basic Earnings Per Share -$0.07 -$0.11
Diluted Earnings Per Share -$0.07 -$0.11
COMMON SHARES
Basic Shares Outstanding 212.8M shares 206.7M shares
Diluted Shares Outstanding 213.0M shares 208.7M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $43.20M $56.68M
YoY Change -44.67% -39.61%
Cash & Equivalents $16.52M $26.75M
Short-Term Investments $26.68M $29.93M
Other Short-Term Assets $4.857M $3.646M
YoY Change -15.75% 56.35%
Inventory $4.486M $4.203M
Prepaid Expenses
Receivables $232.0K $1.970M
Other Receivables $0.00 $0.00
Total Short-Term Assets $53.05M $66.57M
YoY Change -41.98% -35.54%
LONG-TERM ASSETS
Property, Plant & Equipment $7.668M $8.131M
YoY Change -18.95% -18.27%
Goodwill
YoY Change
Intangibles $12.56M $13.08M
YoY Change -29.29% -28.6%
Long-Term Investments
YoY Change
Other Assets $2.894M $3.282M
YoY Change -5.76% 22.1%
Total Long-Term Assets $35.22M $36.84M
YoY Change -20.9% -18.81%
TOTAL ASSETS
Total Short-Term Assets $53.05M $66.57M
Total Long-Term Assets $35.22M $36.84M
Total Assets $88.26M $103.4M
YoY Change -35.08% -30.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.487M $1.448M
YoY Change -35.18% -23.39%
Accrued Expenses $5.893M $8.894M
YoY Change -18.2% 34.86%
Deferred Revenue $180.0K $172.0K
YoY Change -96.37% -97.0%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $10.61M $12.65M
YoY Change -55.91% -44.26%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $134.0K $120.0K
YoY Change -77.55% 48.15%
Total Long-Term Liabilities $134.0K $120.0K
YoY Change -77.55% 48.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.61M $12.65M
Total Long-Term Liabilities $134.0K $120.0K
Total Liabilities $22.41M $24.71M
YoY Change -40.55% -31.65%
SHAREHOLDERS EQUITY
Retained Earnings -$831.1M -$815.6M
YoY Change 11.47% 12.94%
Common Stock $213.0K $212.0K
YoY Change 12.11% 12.77%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $65.86M $78.71M
YoY Change
Total Liabilities & Shareholders Equity $88.26M $103.4M
YoY Change -35.08% -30.43%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$15.52M -$23.93M
YoY Change -33.88% 16.11%
Depreciation, Depletion And Amortization $600.0K $600.0K
YoY Change -45.45% 25.26%
Cash From Operating Activities -$14.09M -$18.63M
YoY Change -30.9% 11.97%
INVESTING ACTIVITIES
Capital Expenditures -$9.000K $166.0K
YoY Change -101.8% -80.9%
Acquisitions
YoY Change
Other Investing Activities $3.574M -$3.965M
YoY Change 11.83% -129.82%
Cash From Investing Activities $3.583M -$4.131M
YoY Change 32.46% -133.24%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -16.00K 5.153M
YoY Change -100.34% -88.11%
NET CHANGE
Cash From Operating Activities -14.09M -18.63M
Cash From Investing Activities 3.583M -4.131M
Cash From Financing Activities -16.00K 5.153M
Net Change In Cash -10.52M -17.61M
YoY Change -18.7% -145.02%
FREE CASH FLOW
Cash From Operating Activities -$14.09M -$18.63M
Capital Expenditures -$9.000K $166.0K
Free Cash Flow -$14.08M -$18.80M
YoY Change -32.6% 7.36%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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MVIS Accrued Financing Fees
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us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_846_eus-gaap--UseOfEstimates_zftThlvYsNob" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_869_z0nqpkPR6Fgc">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect the reported amounts therein. The most significant estimates and assumptions relate to business combinations, valuation of intangibles, revenue recognition, inventory valuation, valuation of share-based payments, income taxes, depreciable lives assessment and related disclosure of contingent assets and liabilities. Due to the inherent uncertainty involved, actual results reported in future periods could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_847_eus-gaap--ConcentrationRiskCreditRisk_zTSPyLBRSeR3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86F_z1X2Ho8fkhA8">Concentration of Credit Risk</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to a concentration of credit risk are primarily cash, cash equivalents, and investment securities. As of June 30, 2024, cash and cash equivalents are comprised of operating checking accounts and short-term highly rated money market savings accounts. Short-term investments are comprised of highly rated corporate bonds and U.S. Treasury securities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the three months ended June 30, 2024, two customers accounted for <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240401__20240630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--OneCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zTzyKLRDmX45" title="Concentration risk, percentage">71</span>% and <span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240401__20240630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--TwoCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zIakyVnEsTUh" title="Concentration risk, percentage">11</span>% of total revenue, respectively. For the same period in 2023, four customers accounted for <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230401__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--OneCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zkJ0mFVua4P8" title="Concentration risk, percentage">20</span>%, <span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230401__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--TwoCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zgRCqWk9Gobk" title="Concentration risk, percentage">20</span>%, <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230401__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--ThreeCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z4NostZbfgD1" title="Concentration risk, percentage">17</span>%, and <span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230401__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--FourCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zpUNiHPNlqth" title="Concentration risk, percentage">16</span>% of total revenue, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the six months ended June 30, 2024, two customers accounted for <span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--OneCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z2CTEWRqCwu6" title="Concentration risk, percentage">58</span>% and <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20240630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--TwoCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zu2UnUsQWLP7" title="Concentration risk, percentage">22</span>% of total revenue, respectively. For the same period in 2023, three customers accounted for <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--OneCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zTpndaTCOvEl" title="Concentration risk, percentage">33</span>%, <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--TwoCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zwXeeG966NEa" title="Concentration risk, percentage">22</span>%, and <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--ThreeCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z8S4ejpqDyp1" title="Concentration risk, percentage">11</span>% of total revenue, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of June 30, 2024, accounts receivable related to these customers accounted for <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240401__20240630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__srt--MajorCustomersAxis__custom--CustomersMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z9kcoY4PJyOf" title="Concentration risk, percentage">80</span>% of total accounts receivable, net of allowances on the condensed consolidated balance sheets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Typically, a significant concentration of components and the products sold are manufactured and obtained from single or limited-source suppliers. The loss of any single or limited-source supplier, the failure of any of these suppliers to perform as expected, or the disruption in the supply chain of components from these suppliers could subject the Company to risks and uncertainties including, but not limited to, increased cost of sales, possible loss of revenues, or significant delays in product development or product deliveries, any of which could adversely affect the Company’s financial condition and operating results.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p>
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-23930000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-20609000 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
208665000 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
208665000 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
177302000 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
177302000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
202706000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
202706000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
176009000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
176009000 shares
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.11
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.11
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.12
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.12
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.25
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.25
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.23
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.23
CY2024Q2 us-gaap Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
2700000
CY2024Q2 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
3000000.0 usd
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1900000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2856000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
329000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1111000 usd
CY2024Q2 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
1970000 usd
CY2023Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
949000 usd
MVIS Change In Contract Assets And Accounts Receivable
ChangeInContractAssetsAndAccountsReceivable
1021000 usd
MVIS Percentage Change In Contract Assets And Accounts Receivable
PercentageChangeInContractAssetsAndAccountsReceivable
1.076 pure
CY2024Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
172000 usd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
300000 usd
MVIS Contract With Customer Liability Current Change
ContractWithCustomerLiabilityCurrentChange
128000 usd
MVIS Contract With Customer Liability Current Percent Change
ContractWithCustomerLiabilityCurrentPercentChange
-0.427 pure
CY2024Q2 MVIS Contract With Customer Assetand Liabilities Net
ContractWithCustomerAssetandLiabilitiesNet
1798000 usd
CY2023Q4 MVIS Contract With Customer Assetand Liabilities Net
ContractWithCustomerAssetandLiabilitiesNet
649000 usd
MVIS Contract With Customer Assetand Liabilities Net Change
ContractWithCustomerAssetandLiabilitiesNetChange
1149000 usd
MVIS Contract With Customer Assetand Liabilities Net Percent Change
ContractWithCustomerAssetandLiabilitiesNetPercentChange
1.770 pure
CY2024Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
200000 usd
CY2024Q2 MVIS Revenue Recognized Percentage
RevenueRecognizedPercentage
1 pure
CY2024Q2 us-gaap Debt Securities Available For Sale Amortized Cost Current
DebtSecuritiesAvailableForSaleAmortizedCostCurrent
29952000 usd
CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1000 usd
CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
19000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
29934000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Amortized Cost Current
DebtSecuritiesAvailableForSaleAmortizedCostCurrent
28585000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsAmortizedCostBasis
29952000 usd
CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1000 usd
CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
19000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
29934000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis
29952000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
29934000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsAmortizedCostBasis
28585000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis
28585000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
28611000 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
21350000 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
19000 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
21350000 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
19000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
2974000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
1000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
2974000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
1000 usd
CY2024Q2 us-gaap Restricted Cash And Investments Current
RestrictedCashAndInvestmentsCurrent
1000000.0 usd
CY2024Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
1995000 usd
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
1574000 usd
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
305000 usd
CY2024Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
2208000 usd
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1995000 usd
CY2024Q2 us-gaap Inventory Net
InventoryNet
4203000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
3874000 usd
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
27648000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
27499000 usd
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
19517000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
18467000 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8131000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
9032000 usd
CY2024Q2 us-gaap Depreciation
Depreciation
600000 usd
CY2023Q2 us-gaap Depreciation
Depreciation
500000 usd
us-gaap Depreciation
Depreciation
1100000 usd
us-gaap Depreciation
Depreciation
1700000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
20198000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
4090000 usd
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
3027000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
13081000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
20198000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
2963000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
17235000 usd
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
600000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1100000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
900000 usd
MVIS Impairment Of Fair Value
ImpairmentOfFairValue
4500000 usd
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
3000000.0 usd
us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
1400000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
968000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
1501000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1471000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
829000 usd
CY2024Q2 MVIS Finite Lived Intangible Assets Amortization Expense After Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearThree
8312000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
13081000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7096000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6815000 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
668000 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.42
us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P4Y
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
108000 usd
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
668000 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
1.42
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y
CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
108000 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
9983000 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
3.09
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
6089000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.40
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
2786000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
5.11
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
823000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
2.71
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
12463000 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
1.85
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
800000 usd
us-gaap Lessee Finance Lease Description
LesseeFinanceLeaseDescription
Finance leases contain options to purchase the leased property. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless the Company is reasonably certain to exercise the purchase option.
CY2021Q3 us-gaap Proceeds From Lease Payments
ProceedsFromLeasePayments
3000000.0 usd
CY2022Q2 us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
expiration of November 2027.
CY2022Q2 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
200000 usd
CY2022Q3 us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
expiration from April 2027 to April 2025
CY2022Q3 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
100000 usd
CY2024Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
668000 usd
CY2023Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
592000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
1333000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
1282000 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
12000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1110000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2017000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1979000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1950000 usd
CY2024Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 usd
us-gaap Restructuring Charges
RestructuringCharges
5700000 usd
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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0001493152-24-030625-index.html Edgar Link pending
0001493152-24-030625.txt Edgar Link pending
0001493152-24-030625-xbrl.zip Edgar Link pending
ex10-1.htm Edgar Link pending
ex10-2.htm Edgar Link pending
ex31-1.htm Edgar Link pending
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ex32-2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
form10-q_001.jpg Edgar Link pending
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mvis-20240630.xsd Edgar Link pending
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mvis-20240630_cal.xml Edgar Link unprocessable
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mvis-20240630_pre.xml Edgar Link unprocessable
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report.css Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable