Vuzix

Vuzix Corp. is a supplier of Smart-Glasses and Augmented Reality technologies and products for the consumer and enterprise markets. Its products include personal display and wearable computing devices that offer users a portable viewing experience, provide solutions for mobility, wearable displays and augmented reality. The firm also holds 246 patents and patents pending and numerous IP licenses in the Video Eyewear field. It has offices in Rochester, NY, Oxford, UK, and Tokyo, Japan. The company was founded by Paul J. Travers in 1997 and is headquartered in West Henrietta, NY.

Earnings data Q1 2021

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Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Vuzix reports robust Q1 performance, eyes record revenues in 2023

Vuzix's strong Q1 2023 performance, driven by record smart glasses sales, positions the company for continued growth and record revenues for the year.
Despite a net loss, Vuzix maintains a healthy financial position with no debt and significant cash reserves, enabling future investments and growth initiatives.
The company's focus on expanding sales channels, partnerships, and innovative products like the Ultralite platform presents promising opportunities for revenue growth.
Challenges lie in achieving profitability amidst competition, but Vuzix's strong IP portfolio, operational investments, and upcoming product launches offer avenues for success.

Vuzix reports robust Q2 growth, eyes OEM expansion and AI applications

Vuzix's Q2 performance reflects strong revenue growth, improved profitability, and a robust balance sheet, setting the stage for future expansion.
The company's strategic focus on AI applications, global sales expansion, and OEM products align with industry trends and growth opportunities.
While challenges exist in transitioning to an OEM-centric model and maintaining margins, Vuzix's market positioning and product innovation offer avenues for sustained success.

Vuzix faces Q3 sales challenges but eyes growth opportunities

Vuzix is navigating challenges with cost reductions and operational realignment.
Despite setbacks, the company remains confident in growth opportunities and profitability.
Strong focus on key markets and technological advancements drive Vuzix's future.

Vuzix reports mixed financials for 2023 amidst strategic innovation

Vuzix's financial performance in 2023 showed revenue growth but with significant operational challenges, emphasizing the need for continued cost management.
The company's focus on innovation, cost-cutting, and strategic opportunities signals a proactive stance towards navigating market dynamics and driving growth.
Vuzix's position in the AR smart glasses market, highlighted by CEO Paul Travers, underscores its commitment to technological advancement and market leadership.

Vuzix reports $2M revenue in Q1 2024, focuses on smart glasses solutions

Vuzix's Q1 2024 performance showcased revenue growth and a strategic focus on smart glasses solutions.
While facing challenges in deployment and consumer adoption, the company remains optimistic about future prospects.
Financial stability, cost reduction measures, and market strategies position Vuzix for growth opportunities ahead.

Vuzix (VUZI) Q2 2024 Earnings: Cost Optimization Amid Revenue Challenges

Vuzix is navigating a period of lower revenues by implementing cost-saving measures and focusing on breakeven margin alignment. With a strong IP portfolio and strategic partnerships in the pipeline, the company is poised for growth in the smart glasses market.

Vuzix reports Q3 revenue decline, eyes growth through strategic partnerships

Vuzix's Q3 2024 performance reflects challenges in revenue generation and profitability, despite efforts to reduce operating expenses and enhance operational efficiency.
The company's strategic strengths lie in its focus on AR and AI Smart Glasses, strategic partnerships, and market expansion into diverse sectors.
Opportunities for Vuzix include leveraging strategic partnerships, advancing technology, exploring new markets, and optimizing cash flow to drive growth and competitiveness.

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Vuzix Corporation (NASDAQ:VUZI) has announced the introduction of the Zoom for smart glasses application by Vuzix on the Zoom App Marketplace. The company, a leading supplier of smart glasses and augmented reality (AR) technology and products, said the collaboration between Vuzix and Zoom will enhance the overall awareness and distribution of smart glasses to Zoom's enterprise customers.

Vuzix says Zoom App Marketplace now supports Zoom for Smart Glasses by Vuzix

Collaboration between Vuzix and Zoom will enhance the overall awareness and distribution of smart glasses to Zoom's enterprise customers ROCHESTER, N.Y. , April 19, 2022 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, today announced the introduction of the Zoom for smart glasses application by Vuzix on the Zoom App Marketplace.

Zoom for Smart Glasses by Vuzix now Supported by the Zoom App Marketplace

ROCHESTER, N.Y. , April 12, 2022 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, today announced a reseller agreement with Opsivity, a Software-as-a-Service (SaaS) provider of field operations support focused on harnessing knowledge and sharing operational expertise that solves technical issues in real-time.

Vuzix Announces Reseller Agreement with Field Operations Support Provider Opsivity

Vuzix Corporation (NASDAQ:VUZI), a leading supplier of smart glasses and Augmented Reality (AR) technology and products, has formalized a reseller agreement with VR Expert -- one of Europe's leading providers of VR & AR hardware.  VR Expert, which has been an active reseller of Vuzix products over the past year, has recently placed follow-on orders for various sets of Vuzix smart glasses that "had a multiple six-figure total dollar value," Vuxix said in a statement.

Vuzix formalizes reseller agreement with VR Expert, strengthening its foothold in Europe

VR Expert places multiple follow-on orders for Vuzix smart glasses ROCHESTER, N.Y. , April 7, 2022 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, today announced that it has formalized a reseller agreement with VR Expert, one of Europe's leading providers of VR & AR hardware.

Vuzix Formalizes Reseller Agreement with VR Expert

Vuzix Corporation (NASDAQ:VUZI) said it has signed a distribution agreement with Robotiques Cyborg, a France-based multi-national distributor of high-technology solutions, and has received and shipped against an initial $300,000 order from them for Vuzix smart glasses. "We are thrilled to be partnering with Robotiques Cyborg, who can not only provide us with new and diverse distribution opportunities, but also integrate our smart glasses into the installation and servicing process for various robotic solutions," said Paul Travers, president and CEO of Vuzix in a statement.

Vuzix Corporation signs distribution agreement with Robotiques Cyborg, a France-based multi-national distributor of high-technology solutions

-  This order marks an expansion for Vuzix into the growing robotics and cybersecurity markets ROCHESTER, N.Y. , April 1, 2022 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, today announced that it has signed a distribution agreement with Robotiques Cyborg, a France-based multi-national distributor of high-technology solutions, and has received and shipped against an initial $300,000 order from them for Vuzix smart glasses.

Vuzix Signs Distribution Agreement with Robotiques Cyborg and Receives Initial Smart Glasses Order

Vuzix Corporation (NASDAQ:VUZI) announced that Osaka Saiseikai Izuo Hospital in Osaka, Japan is using its Vuzix M400 smart glasses to provide remote medical support within the hospital's infectious zone areas. "With their high-performance specs, all-day wearability, and hands-free operation, Vuzix smart glasses are tailor-made for use within hospitals and for telemedicine in general," said Vuzix CEO Paul Travers in a statement.

Vuzix says hospital in Japan using its Vuzix M400 smart glasses to provide remote medical support

-  Vuzix smart glasses provide critical support in difficult to reach infectious disease zones of hospitals ROCHESTER, N.Y. , March 29, 2022 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, today announced that Osaka Saiseikai Izuo Hospital, based in Osaka, Japan, is using Vuzix M400 smart glasses to provide remote medical support within the hospital's infectious zone areas.

Osaka Saiseikai Izuo Hospital Uses Vuzix M400 Smart Glasses to Provide Remote Medical Support

Vuzix Corporation (NASDAQ:VUZI), a leading supplier of smart glasses and augmented reality (AR) technology and products, has announced a new partnership with Icona Srl. Icona Srl is a provider of innovative software platforms including Acty, its remote video assistance software.

Vuzix strikes partnership with Icona Srl to provide remote assistance to manufacturing industry

ROCHESTER, N.Y.,, March 24, 2022 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, today announced a new partnership with Icona Srl ("Icona"), a provider of innovative software platforms including Acty, its remote video assistance software.

Vuzix Partners with Acty AR Software Solution to Provide Remote Assistance to the Manufacturing Industry

Vuzix Corporation (NASDAQ:VUZI), a leading supplier of smart glasses and augmented reality (AR) technology, announced that use of its smart glasses within the operating room, as well as for other healthcare use cases, continues to expand as its partner firms such as Pixee Medical and Rods&Cones increase their rollout of Vuzix-powered solutions. The Rochester, New York-based said that Pixee Medical revealed that its Knee+ AR computer-assisted orthopedic solution will be commercially launched in the US, providing a perfect fit for Ambulatory Surgical Centers (ASCs).

Vuzix says operating room usage of its smart glasses expands through Pixee Medical and Rods&Cones

-  Vuzix has been receiving ongoing smart glasses orders from these firms, as well as others within healthcare, as global awareness and adoption grows ROCHESTER, N.Y. , March 22, 2022 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, today announced that use of its smart glasses within the operating room, as well as for other healthcare use cases, continues to expand as partner firms such as Pixee Medical and Rods&Cones increase their rollout of Vuzix-powered solutions.

Operating Room Usage of Vuzix Smart Glasses Continues to Expand Via Solution Providers Pixee Medical and Rods&Cones

Vuzix Corporation (NASDAQ:VUZI) said it has signed a distribution agreement with Converge IoT, a North American distributor of 4G LTE and 5G hardware, software, and connectivity solutions and bundles.  Converge IoT, which is an exclusive National Primary Agent for the T-Mobile for Business Channel Partner Program, will sell Vuzix smart glasses across multiple industry verticals using T-Mobile's 5G network -- the largest, fastest, and most reliable 5G network in the US.

Vuzix signs distribution deal with Converge IoT to include sale of its smart glasses on T-Mobile's 5G network

ROCHESTER, N.Y. , March 16, 2022 /PRNewswire/ -- Vuzix® Corporation  (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, today announced that it has signed a distribution agreement with Converge IoT, a North American distributor of 4G LTE and 5G hardware, software and connectivity solutions and bundles.

Vuzix Signs Distribution Agreement with Converge IoT That Will Include the Sale of Vuzix Smart Glasses on T-Mobile's 5G Network

Vuzix Corporation (NASDAQ:VUZI) has announced it will be showcasing its M400 smart glasses at Modex 2022 taking place March 28-31, 2022, in Atlanta, Georgia.  The Rochester, New York-based smart tech company said it will join ProGlove in its booth at the event to jointly demonstrate warehouse use cases using ProGlove scanners and Vuzix smart glasses.

Vuzix says it will demonstrate hands-free scanning solution with ProGlove at Modex 2022

Warehouse demo will feature Vuzix M400 smart glasses and ProGlove scanner ROCHESTER, N.Y. , March 15, 2022 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, today announced that the Company will be showcasing its M400 smart glasses at Modex 2022 taking place March 28–31 in Atlanta, GA.

Vuzix and ProGlove to Jointly Demonstrate Hands-Free Scanning Solution at Modex 2022

ROCHESTER, N.Y., March 4, 2022 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, today announced that a Fortune 50 Online Retailer has placed a $200,000 follow-on order for Vuzix smart glasses to support the expanding usage of these glasses for training and remote maintenance within its warehouses.

Fortune 50 Online Retailer Places Follow-on Order for Vuzix Smart Glasses to Support Expanding Warehouse Usage

ROCHESTER, N.Y., March 2, 2022 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, today announced that its Board of Directors approved a $25 million share buyback program which expires on March 2, 2023 (the "Share Buyback Program").

Vuzix Board of Directors Approves $25 Million Share Buyback Program

Vuzix Corporation (NASDAQ:VUZI) told investors it was poised to achieve significant year-over-year revenue growth for 2022 as the adoption of its smart glasses continues to grow. Reporting results for the fourth quarter and full year to end December, the tech group said sales of the glasses rose 27% in 2021 compared to the previous year, leading to total revenue of US$13.2 million, up 14% on 2020.

Vuzix Corp eyeing significant year-over-year revenue growth for 2022 as adoption of smart glasses grows

Vuzix Corporation (VUZI) CEO Paul Travers on Q4 2021 Results - Earnings Call Transcript

Smart glasses revenue increased 27% year-over-year ROCHESTER, N.Y., March 1, 2022 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI) ("Vuzix" or the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technologies and products, today reported its fourth quarter and full year financial results for the year ended December 31, 2021.

Vuzix Reports 4Q and Full Year Results

ROCHESTER, N.Y., Feb. 25, 2022 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, today announced that FAMUR Group, a global machinery and equipment provider to the energy, mining and bulk material handling industries, has adopted Vuzix M400™ smart glasses as its remote support wearable of choice for its SIGMA (Service in Grid Monitoring Area) room.

FAMUR Group Adopts Vuzix M400 Smart Glasses for its Field Service Solution for the FAMUR SIGMA Room

ROCHESTER, N.Y., Feb. 23, 2022 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, today announced that the Company will be showcasing its full line of smart glasses at Mobile World Congress Barcelona 2022 taking place February 28 – March 3 in Barcelona, Spain.

Vuzix To Showcase Its Industry-Leading Family of Smart Glasses at Mobile World Congress Barcelona 2022

ROCHESTER, N.Y., Feb. 10, 2022 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, is pleased to announce that the Company will host a conference call regarding its fourth quarter and full year 2021 operating results on March 1, 2022 at 4:30 PM Eastern Time (ET).

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