Vuzix Q2 revenue falls as R&D spending rises
Vuzix Q2 revenue falls as R&D spending rises
Overview
US smart glasses supplier's Q2 revenue fell 14% yr/yr, product sales down 15%
Q2 net loss narrowed slightly, loss per share improved to $0.09 from $0.10
Company invested in waveguide plant and manufacturing to improve throughput and cycle times
Outlook
Vuzix says demand for AI-based smart glasses continues to gain momentum across enterprise and OEM markets
Company plans to continue investing in waveguide innovation and strategic relationships
Vuzix sees the smart glasses industry entering a period of dynamic evolution driven by advances in AI
Result Drivers
R&D SPENDING - Higher research and development costs driven by new product development and increased headcount, per company
WAVEGUIDE INVESTMENT - Co invested in waveguide plant and manufacturing equipment to improve throughput and support more programs
ENTERPRISE DEPLOYMENTS - Initial Ultralite Pro glasses delivered to Amazon for testing; expanded M400 deployments and initial waveguide systems delivered to enterprise customers
Company press release: ID:nCNWJxHJla
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Loss Per Share |
| $0.09 |
|
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the electronic equipment & parts peer group is "buy"
Wall Street's median 12-month price target for Vuzix Corp is $6.00, about 129% above its August 12 closing price of $2.62
Reuters Recommended Reads
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Aug 11 - Ambiq Micro Q2 sales beat estimates on edge AI demand
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)