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Mar 31
Vuzix Q1 2025 Earnings Report
Reported first quarter 2025 financial results
Key Takeaways
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.
Total revenue decreased by 21% to $1.6 million in Q1 2025 compared to $2.0 million in Q1 2024.
The net loss decreased to $8.6 million ($0.11 per share) in Q1 2025 from $10.0 million ($0.16 per share) in Q1 2024.
Cash net flows used in operating activities improved significantly, decreasing from $8.8 million in Q1 2024 to $3.5 million in Q1 2025.
Research and Development, Selling and Marketing, and General and Administrative expenses all decreased compared to the prior year quarter.
Vuzix
Vuzix
Vuzix Revenue by Segment
Revenue by Segment
Smart Glasses Revenue
CapyFin.comEngineering Services Revenue
CapyFin.com Forward Guidance
Vuzix aims to secure design wins for new ODM/OEM products, grow its defense business, and utilize existing smart glasses inventory to fund the introduction of next-generation products.
Positive Outlook
- Focus on securing design wins for new ODM/OEM products in consumer and enterprise markets.
- Goal to develop long-term recurring revenues from supplying optical waveguides and display engines or co-branded AI smart glasses.
- Aim to grow business with existing and new prime defense contractors.
- Experiencing growing enterprise customer successes with demonstrated productivity improvements.
- Confident in having the capital resources to execute the current operating plan with $19.5 million in working capital.
Challenges Ahead
- Adoption of smart glasses in the overall market has been slower than anticipated.
- Need to reduce existing smart glasses inventory before introducing next-generation products.
- Reliance on anticipated follow-on orders to convert finished goods into cash.
- Success dependent on design wins converting into scaled production orders.
- Market momentum is gaining, but still in a phase of increasing commercial momentum rather than full scale.
Revenue & Expenses
Visualization of income flow from segment revenue to net income