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Jun 30, 2021
Vuzix Q2 2021 Earnings Report
Reported continued smart glasses growth and transformative initiatives to accelerate growth and profitability.
Key Takeaways
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.
Total revenues decreased by 4% to $2.9 million.
Smart glasses sales increased by 21%.
Gross profit was $0.6 million, or 20%.
Net loss was $8.8 million, or $0.14 per share.
Vuzix
Vuzix
Vuzix Revenue by Segment
Revenue by Segment
Smart Glasses Revenue
CapyFin.comEngineering Services Revenue
CapyFin.com Forward Guidance
The business outlook for the second half of 2021 remains positive, with anticipated sequential top-line revenue growth driven by strong smart glasses demand, the expected return of OEM-related engineering services revenue, and initial sales of OEM production units to a Tier-1 defense customer.
Positive Outlook
- Sequential top-line revenue growth is anticipated in the second half of 2021.
- Strong smart glasses demand is expected to drive revenue growth.
- OEM-related engineering services revenue is expected to return.
- Initial sales of OEM production units to a Tier-1 defense customer are expected.
- Focus on developing and delivering against growing enterprise smart glasses opportunities.
Revenue & Expenses
Visualization of income flow from segment revenue to net income