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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.
Revenue by Segment
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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