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.

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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.

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ROCHESTER, N.Y. , June 13, 2023 /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 the receipt of a follow-on OEM purchase order for engineering services and products from a US-based company that is a leader in technologically advanced and intelligent solutions for the global aerospace and defense industry.

Vuzix Receives Follow-on OEM Purchase Order for Engineering Services and Product Solutions from a Major Defense Customer

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-  TeleVU and Ohana One demonstrating Vuzix AR smart glasses at AIMed Global Summit this week    ROCHESTER, N.Y. , June 7, 2023 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, today highlights the potential and expanding use of Vuzix smart glasses within healthcare using AI applications.

Vuzix Smart Glasses Support the Expanding Use of AI Healthcare Applications

ROCHESTER, N.Y. , June 1, 2023 /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 hosting its Annual Shareholder Meeting (ASM) on Thursday, June 15, 2023 at 10:30 AM Eastern Time (ET).

Vuzix Annual Shareholder Meeting to Be Held on June 15, 2023

-  AI applications in development on Vuzix Shield and Ultralite ROCHESTER, N.Y. , May 31, 2023 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, announced today that it has partnered with TeamOpenSmartGlasses ("TOSG") to develop ChatGPT AI applications on Vuzix smart glasses.

Vuzix Partners with TeamOpenSmartGlasses to Develop ChatGPT AI Applications for Vuzix Smart Glasses

Materialise NV

-  3D Printing Makes It Possible to Bring Functional, Fashionable and Affordable Smart Eyewear Faster to Market ROCHESTER, N.Y. and LEUVEN, Belgium , May 30, 2023 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, and Materialise NV (NASDAQ: MTLS), ("Materialise"), a 3D printing pioneer, have announced a collaborative effort to accelerate the design and production of smart eyewear using 3D printing technology.

Materialise and Vuzix Announce Collaboration to Bring Smart Eyewear to Customers

-  Vuzix to present on AR adoption and showcase smart glasses and OEM white label offerings ROCHESTER, N.Y. , May 25, 2023 /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 be participating in Augmented World Expo USA 2023 (AWE), which is being held May 31 through June 2 at the Santa Clara Convention Center in Santa Clara, California.

Vuzix to Participate in Augmented World Expo USA 2023

ROCHESTER, N.Y. , May 22, 2023 /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 the receipt of new OEM purchase orders for engineering services and products from two defense customers, one a follow-on order and the other from a new customer.

Vuzix Receives OEM Purchase Orders for Engineering Services and Product Solutions from Two Defense Customers

Start Time: 16:30 January 1, 0000 5:16 PM ET Vuzix Corporation (NASDAQ:VUZI ) Q1 2023 Earnings Conference Call May 10, 2023, 16:30 PM ET Company Participants Paul Travers - President and CEO Grant Russell - EVP and CFO Ed McGregor - Director, IR Conference Call Participants Matt VanVliet - BTIG Jim McIlree - Dawson James Operator Greetings, and welcome to the Vuzix First Quarter ending March 31, 2023 Financial Results and Business Update Conference Call. At this time, all participants are in a listen-only mode.

Vuzix Corporation (VUZI) Q1 2023 Earnings Call Transcript

Vuzix (VUZI) came out with a quarterly loss of $0.16 per share in line with the Zacks Consensus Estimate. This compares to loss of $0.16 per share a year ago.

Vuzix (VUZI) Reports Q1 Loss, Misses Revenue Estimates

-  Revenue up 67% year-over-year and 44% quarter-over-quarter ROCHESTER, N.Y. , May 10, 2023 /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 first quarter results for the three months ended March 31, 2023.

Vuzix Reports Record Smart Glasses Sales in Q1 2023

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WEST HENRIETTA, NY / ACCESSWIRE / May 9, 2023 / The augmented reality (AR) revolution is here, and the sector seems poised for sustained growth as AR products and applications move from evaluation to adoption across healthcare, logistics, supply chain, retail and other industry verticals. The augmented reality and virtual reality global market is predicted to reach $451.5 billion by 2030 at a compound annual growth rate (CAGR) of 38.5%.

Vuzix Corporation (NASDAQ:VUZI) Looks Well Positioned To Capitalize On The Rise Of Augmented Reality

ROCHESTER, N.Y. , May 1, 2023 /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 first quarter 2023 operating results at 4:30 PM Eastern Time (ET), May 10, 2023.

Vuzix Schedules Conference Call to Discuss First Quarter 2023 Financial Results and Business Update

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ROCHESTER, N.Y. , April 28, 2023 /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 received a follow-on volume order for smart glasses from Korean distributor Xpertinc Co., Ltd.

Vuzix Receives Follow-On Volume Smart Glasses Order from Xpertinc to Support Expanding Customer Demand

ROCHESTER, N.Y. , April 26, 2023 /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 shipped against a volume order for Vuzix smart glasses from Tabbara Electronics, a leading distributor of cutting-edge technology solutions, serving customers across the Middle East and North Africa.

Vuzix Delivers Volume Smart Glasses Order to Tabbara Electronics

Although searing growth has not come yet, fiscal 2023 is expected to be much better. Accelerated investment continues, but so does the cash burn. Vuzix's high sales multiple clearly shows that downward revisions simply cannot happen in order to keep the dream alive.

Vuzix: Hope Springs Eternal

-  Regional cost-effective moves will boost customer service, accessibility, development and support ROCHESTER, N.Y. , April 24, 2023 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, today announced two international infrastructure developments that will allow the Company to better serve existing partners and customers, as well as develop and support new relationships.

Vuzix Strengthens its Global Sales and Support Infrastructure with New Offices and Corporate Entities in Germany and Japan

- Strong revenue growth expected across core smart glasses products, OEM/Engineering services and SaaS software solutions ROCHESTER, N.Y. , April 19, 2023 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, today issued a shareholder letter from its President and Chief Executive Officer, Paul Travers.

Vuzix CEO Addresses Shareholders and Advances Bullish Outlook for 2023

ROCHESTER, N.Y. , April 12, 2023 /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 received and shipped against a volume follow-on order for Vuzix smart glasses from Acuraflow, a developer and deployer of sustainable management solutions.

Vuzix Receives Volume Follow-on Smart Glasses Order from Acuraflow to Supply Pharmaceutical Customer

ROCHESTER, N.Y., April 10, 2023 /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 first quarter 2023 sales of AR smart glasses were at a record level, driven by use for enterprise and medical applications. As a result, the Company has also announced that preliminary revenue for its first fiscal quarter of 2023 has surpassed $4.0 million, more than 60% ahead of the prior year's first quarter's revenues of $2.5 million.

Vuzix Achieves Record Smart Glasses Sales in Q1 2023

- Successful 2022 pilot tests pave the way for a broader customer rollout commencing in 2023 - See-through waveguide-based smart glasses bring AR into the operating room ROCHESTER, N.Y. , April 5, 2023 /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 Proximie, a global health technology platform provider, has commenced rollout of PxLens following its initial introduction earlier this year.

Global Health Technology Platform Provider Proximie Commences Rollout of PxLens Using Vuzix M4000™ Smart Glasses

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-   A new partnership between Global Health Education Group and the University of Leeds will use Vuzix smart glasses to provide remote medical learning and interaction ROCHESTER, N.Y. , March 27, 2023 /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 smart glasses have been selected to support a new partnership between med-tech specialist Global Health Education Group ("GHEG") and the University of Leeds, one of the largest higher education institutions in the UK.

News for Vuzix Stock (VUZI)