Vuzix Q2 revenue falls, net loss narrows
Vuzix Q2 revenue falls, net loss narrows
Overview
Smart glasses maker's Q2 revenue fell 14% yr/yr to $1.1 mln
Net loss for Q2 narrowed slightly to $7.7 mln, or $0.09 per share
Company cited higher R&D costs and new deployments with Amazon, Collins Aerospace
Outlook
Company sees growing demand for AI-based smart glasses in enterprise and OEM/ODM markets
Vuzix intends to continue investing in waveguide innovation and strategic relationships
Company says smart glasses industry is entering a period of dynamic evolution driven by AI advances
Result Drivers
NEW CUSTOMER DEPLOYMENTS - Co cited initial deliveries of Ultralite Pro glasses to Amazon and expanded M400 deployments, as well as initial production with Collins Aerospace
HIGHER R&D SPENDING - Co said increased research and development costs were due to new product development and higher personnel expenses
MANUFACTURING INVESTMENTS - Co invested in waveguide plant and equipment to improve throughput and reduce development cycle times
Company press release: ID:nPn5sWYtPa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Sales | Miss | $1.11 mln | $1.50 mln (1 Analyst) |
Q2 Net Loss |
| $7.63 mln |
|
Q2 Gross Loss |
| $645,000 |
|
Q2 Operating Income |
| -$7.75 mln |
|
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
Aug 10 - Kopin Q2 revenue rises 51% on government grants, higher defense sales
Aug 12 - German advocacy group lodges criminal complaint over Meta AI glasses
Aug 11 - Lumentum forecasts upbeat first-quarter revenue on 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.)