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Dec 31, 2023
Vuzix Q4 2023 Earnings Report
Reported fourth quarter and full year financial results for the year ended December 31, 2023.
Key Takeaways
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 made advancements in product development, core technologies and manufacturing.
Waveguide manufacturing capabilities were expanded.
Relationships were expanded and deepened within the enterprise, consumer and defense markets.
The company expects to enter into several new projects with new and existing defense and consumer product-focused customers over the course of the year.
Vuzix
Vuzix
Vuzix Revenue by Segment
Revenue by Segment
Smart Glasses Revenue
CapyFin.comEngineering Services Revenue
CapyFin.com Forward Guidance
The overall outlook for 2024 remains positive. The company has a good book of business with identified opportunities, representing large potential deals and cornerstone customers for enterprise products. Vuzix expects their red-green-blue (RGB) microLED development progress with Atomistic to accelerate over the coming year.
Positive Outlook
- Good book of business with identified opportunities.
- Potential large deals and cornerstone customers for enterprise products.
- Expect to enter into several new projects with new and existing defense and consumer product-focused customers over the course of the year.
- Vigilant in actions to lower operating costs.
- Vigilant in actions to extend operational runway and improve enterprise product margins
Revenue & Expenses
Visualization of income flow from segment revenue to net income