Microvision’s Revenue Breakdown (2017-2021)

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This statistic highlights Microvision’s Revenue Breakdown, split across Product and services transferred over time and Products transferred at a point in time.
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This statistic highlights Microvision’s Revenue Breakdown, split across Product and services transferred over time and Products transferred at a point in time.

Microvision’s Revenue Breakdown 

Period Q3 2020 Q2 2021 Q3 2021 Revenue mix in Q3 2021
Products transferred at a point in time $0.63 $0.74 $0.71 100.00%
Product and services transferred over time 0.00%
Total $0.63 $0.74 $0.71 100.00%

(All figures are in millions, except percentages)

The total revenue of Microvision Inc. increased from $0.63 million in Q3 2020 to $0.71 million in Q3 2021, marking a 12.36% growth on a year-on-year basis. It decreased by 3.75% between Q2 2021 and Q3 2021 as compared to $0.74 million earned in Q2 2021.

When promised goods or services are transferred to customers, revenues are recognized in an amount that reflects the consideration they expect to receive in exchange for those goods or services. Contracts with clients are the sole source of revenue for them.

Microvision’s contracts record revenue only when the deliverable is accepted under certain client acceptance conditions (s). Contract revenue can be recorded at a single point in time or over time.

Products transferred at a point in time

If control goes to the client only after the completion and transfer of the asset, revenue is recognized at the end of the contract, depending on the contract’s parameters. They recognize revenue only when the deliverable is accepted under contracts with strong customer acceptance provisions (s).

Technology businesses report income from their PicoP® scanning technology’s upfront license payments and realize income during the period of time they have ongoing responsibilities under the agreement. If the nature of the license provided is a right-to-use license, reflecting functioning intellectual property with significant standalone functionality, they record income at a moment in time as part of their licensing agreements. They will record revenue from sales-based royalties based on the number of products sold or otherwise distributed in quarterly reports submitted by the customer. They will estimate the number of royalty-bearing products if reports are not received. If no reports are received, they will estimate how much is sold by customers.

Product and services transferred over time

If control of an asset is transferred over time, revenue is recognized in proportion to the time it takes for control to be transferred. The majority of their development projects are for a set charge. If control of deliverables occurs over time, they report revenue on fixed-fee contracts based on the percentage of total cost expended (under Topic 606, the ‘input method’) to the total cost projected to complete the contract performance obligation. They incorporate changes to hourly and cost forecasts once the causative factors are revealed.

If they come across a lot of different performance obligations, they look at each one to see if there is a different selling price for each one. When the stand-alone selling price is not readily obvious, such as when they do not sell the product or service separately, they determine it using information that may include market circumstances and other observable inputs. Each different performance obligation’s stand-alone selling price needs judgment.

About the company

MicroVision, Inc. is a corporation based in the United States that specializes in laser scanning for projection, 3D sensing, and picture capture. MicroVision’s display technology projects and/or captures images using a micro-electrical mechanical system (MEMS) scanning mirror with red, green, blue, and infrared lasers, optics, and electronics. Original equipment manufacturers (OEMs) such as STMicroelectronics license the company’s goods. It is listed on the NASDAQ stock exchange with the ticker name as MVIS . MicroVision is based in Redmond, Washington, and is part of the Greater Seattle Area’s high-tech ecosystem.

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