Vuzix Earnings Reports

Vuzix reported a decrease in total revenue for Q1 2025 compared to the prior year, primarily due to lower product sales. The company saw an increased gross loss, but a decrease in net loss and improved cash flow from operations.

Vuzix Inc. reported total revenue of $1.3 million in Q4 2024, reflecting an increase driven by higher unit sales of M400 smart glasses. Despite this, the company posted a net loss of $13.7 million, though reduced from the prior year. Operating expenses declined, including research and development, selling and marketing, and general administrative costs, positioning the company for improved financial efficiency.

Vuzix reported a decrease in revenue for Q3 2024, driven by lower smart glasses product sales and engineering services revenues. The company reduced its cash operating expenses by 28% year-over-year. Vuzix continues to advance its OEM-driven model and collaboration with Thales Corporation.

Vuzix reported a 77% decrease in revenue to $1.1 million, driven by lower product sales. The company experienced a gross loss of $0.3 million compared to a gross profit of $1.0 million in the prior year. A $30.1 million non-cash charge related to a technology license write-off contributed to a net loss of $40.6 million, or $0.62 per share.

Vuzix reported a decrease in total revenues by 52% to $2.0 million for Q1 2024, compared to $4.2 million in Q1 2023. The company experienced a gross loss of $0.1 million, and a net loss of $10.0 million, or $0.16 per share. Vuzix is implementing measures to reduce its cost structure by up to 35% by the end of Q2 and remains positive about top line improvements for the rest of the year.

Vuzix reported their fourth quarter and full year financial results for 2023. The company made advancements in product development, core technologies, and manufacturing. Total revenues for the full year ended December 31, 2023, were $12.1 million, a 2% increase over 2022.

Vuzix reported a decrease in revenue for Q3 2023, primarily due to lower product sales. However, the company sees underlying momentum in both enterprise and OEM businesses and ended the quarter with a record $3.2 million backlog of current OEM projects. They are implementing changes expected to lower operating costs by as much as 20% annually once fully implemented.

Vuzix reported a 56% year-over-year increase in total revenue, driven by record smart glasses sales. The company saw improvements in gross profit and a reduced net loss compared to the same period last year. Vuzix is optimistic about the second half of 2023, expecting continued revenue growth and progress in its OEM business.

Vuzix reported a strong start to 2023 with record smart glasses sales, which increased 67% year-over-year. Total revenues increased by 67% to $4.2 million compared to $2.5 million in the same period of 2022. The company expects to achieve record overall revenues in 2023.

Vuzix reported a 13% decrease in total revenues for Q4 2022, amounting to $2.9 million, due to lower smart glasses sales, although this was partially offset by increased engineering services sales. The company experienced a gross loss of $0.1 million, compared to a gross loss of $0.01 million in the same period of 2021.

Vuzix reported a 14% increase in total revenues for the third quarter of 2022, reaching $3.4 million compared to $3.0 million in the same period of 2021, driven by engineering services revenues. The company's net loss decreased to $9.5 million, or $0.15 per share, from $10.5 million, or $0.17 per share, in the prior year.

Vuzix reported a 3% increase in revenue compared to the same period last year, reaching $3.0 million. The company's net loss increased to $10.0 million, or $0.16 per share. Despite macro challenges, Vuzix saw progress in larger product deployments and expanded its global sales channel.

Vuzix reported a decrease in total revenues by 36% to $2.5 million for Q1 2022, compared to $3.9 million in Q1 2021, primarily due to lower smart glasses sales. The company's net loss was $10.5 million, or $0.16 per share, compared to a net loss of $9.2 million, or $0.17 per share, in the same period last year. Despite these challenges, Vuzix maintains a positive outlook for 2022, anticipating growth in smart glasses adoption and OEM component platforms.

Vuzix reported a decrease in total revenues for the fourth quarter of 2021, primarily due to lower sales of smart glasses products and engineering services. However, the company is optimistic about future growth, citing an expected acceleration in smart glasses demand and opportunities within its OEM business group.

Vuzix reported a 9% increase in total revenues for Q3 2021, driven by higher sales of smart glasses. However, the company experienced a net loss due to increased expenses in research and development, sales and marketing, and general and administrative areas. The company maintains a strong cash position and is focused on strategic initiatives to accelerate smart glasses adoption.

Vuzix reported a decrease in total revenues by 4% to $2.9 million compared to the same period in 2020. However, smart glasses sales rose by 21%. The net loss for the quarter was $8.8 million, or $0.14 per share.

Vuzix Corporation reported a significant increase in first-quarter revenue, driven by a 177% year-over-year rise in smart glasses sales. The company's balance sheet is strong with approximately $145 million in pro forma cash, positioning it well for future growth and strategic initiatives. The net loss for the quarter was $6.6 million, or $0.12 per share.

Vuzix reported a strong fourth quarter and full year, driven by increased demand for smart glasses, particularly the M400 Smart Glasses. Total Q4 revenues increased by 117% year-over-year, and the company saw growth in new customer acquisition across various industries.

Vuzix reported a 140% increase in total revenue for Q3 2020, driven by a 156% rise in smart glasses sales. The company achieved a gross profit compared to a gross loss in the previous year, and net losses decreased. They are optimistic about continued growth in smart glasses revenue and OEM business.

Vuzix reported a revenue increase of $0.2 million to $1.5 million for Q1 2020, driven by higher smart glasses sales and engineering services revenue. The company also reduced operating expenses by approximately $1.0 million compared to the same period last year. They experienced gross profit growth and a decrease in net loss attributable to common stockholders.

Vuzix reported fourth quarter revenue of $2.0 million, a slight decrease of 1.3% compared to the prior year. The company had a gross profit of $0.2 million before a $4.6 million inventory reserve. The net cash operating loss was $4.0 million, an improvement compared to the average quarterly rate for the first three quarters of 2019.