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.

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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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.

Vuzix Smart Glasses Support New Partnership Designed to Solve Global Health Workforce Shortages

Vuzix (VUZI) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).

Vuzix (VUZI) Upgraded to Buy: Here's What You Should Know

ROCHESTER, N.Y. , March 9, 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 entered into a distribution agreement with Texas based MACE Virtual Labs, LLC ("MACE VL"), a value-added distributor and solution provider of virtual and augmented reality technologies for use in commercial settings.

Vuzix Signs Distribution Agreement with MACE Virtual Labs and Receives Substantial Initial Volume Smart Glasses Order

ROCHESTER, N.Y. , March 6, 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 the following in-person investor conferences this month: March 9 Opal's Annual Family Office Winter Forum etc.venues at 360 Madison Avenue in New York, NY Company management will be displaying Vuzix' family of smart glasses products and be available for investor meetings and discussions with event participants.

Vuzix to Participate in Two Financial Conferences in March

Vuzix Corporation (NASDAQ:VUZI ) Q4 2022 Results Conference Call March 1, 2022 4:30 PM ET Company Participants Ed McGregor - Director, IR Paul Travers - CEO Grant Russell - CFO Conference Call Participants Christian Schwab - Craig-Hallum Jack Vander Aarde - Maxim Group Jim McIlree - Dawson James Matt VanVliet - BTIG Operator Greetings, and welcome to the Vuzix Fourth Quarter and Full Year ending December 31, 2022, Financial Results and Business Update Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.

Vuzix Corporation (VUZI) Q4 2022 Earnings Call Transcript

Q1 confirmed orders and expected shipments to mark one of the strongest quarterly revenues in a decade ROCHESTER, N.Y. , March 1, 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 fourth quarter and full year financial results for the year ended December 31, 2022.

Vuzix Reports 4Q and Full Year 2022 Results

ROCHESTER, N.Y. , Feb. 23, 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 fourth quarter and full year 2022 operating results on Wednesday, March 1, 2023 at 4:30 PM Eastern Time (ET).

Vuzix Schedules Conference Call to Discuss Fourth Quarter and Full Year 2022 Financial Results and Business Update

ROCHESTER, N.Y. , Feb. 22, 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 latest portfolio of enterprise smart glasses, consisting of the Vuzix M400™, Vuzix M4000™, Vuzix Shield™ and Vuzix Blade 2™, are now all fully able to operate using Android 11.

Vuzix Announces Android 11 Support for Its Latest Portfolio of Enterprise Smart Glasses

- Customer interest since Vuzix Ultralite's unveiling at CES 2023 has surpassed expectations  and the platform is uniquely positioned for AI functionality ROCHESTER, N.Y. , Feb. 16, 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 following its formal unveiling at CES 2023, the Vuzix Ultralite™ smart glasses OEM platform has continued to garner broad and strong interest from many potential OEM customers spanning consumer electronics, software, telecoms and general eyewear manufacturers.

Vuzix Advances the Vuzix Ultralite™ OEM Platform to Better Facilitate Visual GPT and Other AI Functions

-  Vuzix, OPTAC-X and Kymeta Conduct First Ever SATCOM-enabled Augmented Reality Tactical Dive ROCHESTER, N.Y. , Feb. 9, 2023 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, announced it has entered a formal reseller relationship with OPTAC-X, a leading telehealth company that provides telehealth products and physician and remote tele-expert services networks.

Vuzix Enters Formal Reseller Relationship with OPTAC-X

-  New remote assistance platform now available at more than 1400 medical centers internationally ROCHESTER, N.Y. , Feb. 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 announced a significant milestone for both the Company and the healthcare industry.

Vuzix Smart Glasses Have Provided Remote Assistance Service for Over 40,000 Operating Room Virtual Sessions with Rods&Cones

Vuzix Ultralite opens door for Vuzix to offer OEM services for consumer AR Glasses. Unsustainable sales and marketing costs, declining product sales and gross margin, and ballooned inventory cast concern.

Vuzix Corporation: Go Big Or Go Home

ROCHESTER, N.Y. , Jan. 31, 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 Moviynt®, a Vuzix wholly owned subsidiary and US-based SAP-Certified ERP platform software solution provider, has had its software platform successfully deployed at a third warehouse of a global aerospace customer to support their manufacturing and backend logistics operations.

Global Aerospace Customer Expands Deployment of Vuzix' SAP-Certified Warehouse Solution

ROCHESTER, N.Y. , Jan. 25, 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 continues to see growing smart glasses demand within the telecom service provider vertical as more devices take advantage of 4G and 5G networks to provide low latency remote support.

Telecom Customer Demand for Vuzix Smart Glasses Running on 4G and 5G Networks Continues to Steadily Expand

The company's leading products are spreading out into the market, and that's a very good development.

Why Vuzix Stock Blasted Higher Today

-  The Ox Operator Experience platform uses Vuzix smart glasses, software automation and artificial intelligence to deliver operational excellence ROCHESTER, N.Y. , Jan. 23, 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 Vuzix smart glasses have begun to be deployed by Ox, a Vuzix value added reseller, at one of the world's largest logistics platform providers.

Ox Commences Deployment of Vuzix Smart Glasses at One of the World's Largest Logistics Platform Providers

ROCHESTER, N.Y , Jan. 17, 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 has received additional orders for Vuzix M400™ smart glasses from a Fortune 50 global retailer to support the warehousing and logistics needs of this customer. Vuzix smart glasses are now being used in multiple locations by this customer and their intention is to move forward with a more substantive deployment of smart glasses across an increasing number of their company locations over the balance of 2023 and beyond.

News for Vuzix Stock (VUZI)