In This Article:
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Total Revenue: $1.6 million, down 21% year-over-year, up 24% sequentially.
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Engineering Services Revenue: $0.3 million, up 47% from the prior year.
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Gross Loss: $0.3 million for Q1 2025, compared to $0.1 million in Q1 2024.
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Research and Development Expense: $2.6 million, a decrease of 5% from the previous year.
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Sales and Marketing Expense: $1.5 million, a decrease of 31% year-over-year.
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General and Administrative Expenses: $4 million, a decrease of 3% from the prior year.
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Net Loss: $8.6 million, or $0.11 per share, compared to $10 million, or $0.16 per share, in Q1 2024.
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Cash and Cash Equivalents: $15.2 million as of March 31, 2025.
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Net Cash Flows Used for Operating Activities: $3.5 million, improved from $8.8 million in the prior year.
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Cash Used for Investing Activities: $8.8 million, compared to $1.2 million in the prior year.
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Working Capital Position: $19.5 million as of March 31, 2025.
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Debt Obligations: No current or long-term debt obligations outstanding as of March 31, 2025.
Release Date: May 12, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Vuzix Corp (NASDAQ:VUZI) is experiencing increased commercial traction in the smart glasses market, driven by OEM and enterprise engagements.
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The company has acquired a state-of-the-art waveguide R&D and tooling facility in Milpitas, California, enhancing its manufacturing capabilities.
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Vuzix Corp (NASDAQ:VUZI) has a strategic partnership with Quanta, which is expected to bring in an additional $10 million in growth capital.
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The company is seeing significant interest in its waveguide technology, with a recent design win for smart thermal AR glasses for a European OEM customer.
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Vuzix Corp (NASDAQ:VUZI) has reduced its net loss from $10 million in Q1 2024 to $8.6 million in Q1 2025, showing improved financial management.
Negative Points
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Total revenue for Q1 2025 was $1.6 million, down 21% year-over-year due to decreased sales of smart glasses.
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The company reported a gross loss of $0.3 million for Q1 2025, compared to a gross loss of $0.1 million in the same period in 2024.
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Vuzix Corp (NASDAQ:VUZI) is facing challenges with manufacturing overhead costs, which increased both as a percentage of total product sales and in absolute dollar terms.
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The company has a significant amount of M400 inventory, with $5 million fully provided for, indicating potential inventory management issues.
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Despite strategic partnerships and technological advancements, Vuzix Corp (NASDAQ:VUZI) still faces competitive pressures in the waveguide and smart glasses market.