What is Vuzix's earnings per share (EPS)?

Vuzix (VUZI) reported diluted earnings per share of $-0.42 for fiscal year 2025. This represents a 61.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Vuzix Financials

VUZI

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Vuzix (VUZI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 40/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Vuzix has an operating margin of -517.6%, meaning the company retains $-518 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -1285.4% the prior year.

Growth

Vuzix's revenue grew 9.1% year-over-year to $6.3M, a solid pace of expansion. This earns a growth score of 49/100.

Leverage

Vuzix carries a low D/E ratio of 0.62, meaning only $0.62 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 89/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 5.56, Vuzix holds $5.56 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Cash Flow

While Vuzix generated -$18.8M in operating cash flow, capex of $2.0M consumed most of it, leaving -$20.8M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Vuzix generates a -130.8% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -197.2% the prior year.

Piotroski F-Score Neutral

4/9

Vuzix passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Low Quality

0.58x

For every $1 of reported earnings, Vuzix generates $0.58 in operating cash flow (-$18.8M OCF vs -$32.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

$6.3M

YoY+9.1%

5Y CAGR-11.5%

10Y CAGR+8.6%

Vuzix generated $6.3M in revenue in fiscal year 2025. This represents an increase of 9.1% from the prior year.

EBITDA

-$30.9M

YoY+56.5%

Vuzix's EBITDA was -$30.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 56.5% from the prior year.

Net Income

-$32.3M

YoY+56.1%

Vuzix reported -$32.3M in net income in fiscal year 2025. This represents an increase of 56.1% from the prior year.

EPS (Diluted)

$-0.42

YoY+61.1%

Vuzix earned $-0.42 per diluted share (EPS) in fiscal year 2025. This represents an increase of 61.1% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$20.8M

YoY+17.1%

Vuzix generated -$20.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 17.1% from the prior year.

Cash & Debt

$21.2M

YoY+16.3%

5Y CAGR-10.1%

10Y CAGR+5.9%

Vuzix held $21.2M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

81M

YoY+6.7%

5Y CAGR+12.2%

10Y CAGR+17.6%

Vuzix had 81M shares outstanding in fiscal year 2025. This represents an increase of 6.7% from the prior year.

Margins & Returns

Gross Margin

-16.9%

YoY+80.4pp

5Y CAGR-22.1pp

10Y CAGR-37.5pp

Vuzix's gross margin was -16.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 80.4 percentage points from the prior year.

Operating Margin

-517.6%

YoY+767.8pp

5Y CAGR-352.4pp

10Y CAGR-105.2pp

Vuzix's operating margin was -517.6% in fiscal year 2025, reflecting core business profitability. This is up 767.8 percentage points from the prior year.

Net Margin

-513.8%

YoY+764.1pp

5Y CAGR-358.8pp

10Y CAGR-25.6pp

Vuzix's net profit margin was -513.8% in fiscal year 2025, showing the share of revenue converted to profit. This is up 764.1 percentage points from the prior year.

Return on Equity

-130.8%

YoY+66.4pp

5Y CAGR-93.6pp

10Y CAGR-47.3pp

Vuzix's ROE was -130.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 66.4 percentage points from the prior year.

Capital Allocation

R&D Spending

$12.6M

YoY+31.2%

5Y CAGR+10.8%

10Y CAGR+13.4%

Vuzix invested $12.6M in research and development in fiscal year 2025. This represents an increase of 31.2% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$2.0M

YoY+48.2%

5Y CAGR+32.3%

10Y CAGR+0.6%

Vuzix invested $2.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 48.2% from the prior year.

VUZI Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$6.3M+9.1%	$5.8M-52.6%	$12.1M+2.5%	$11.8M-10.1%	$13.2M+13.7%	$11.6M
Cost of Revenue	$7.3M-35.3%	$11.4M-23.1%	$14.8M+42.6%	$10.4M-10.7%	$11.6M+5.6%	$11.0M
Gross Profit	-$1.1M+81.0%	-$5.6M-112.5%	-$2.6M-277.6%	$1.5M-5.4%	$1.6M+162.3%	$598K
R&D Expenses	$12.6M+31.2%	$9.6M-22.0%	$12.3M-2.7%	$12.7M+8.6%	$11.7M+54.3%	$7.6M
SG&A Expenses	$11.6M-32.5%	$17.2M-7.3%	$18.6M-11.6%	$21.0M-6.5%	$22.5M+225.4%	$6.9M
Operating Income	-$32.5M+56.1%	-$74.0M-41.4%	-$52.3M-23.8%	-$42.2M-5.6%	-$40.0M-109.0%	-$19.1M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$0	$0	$0	N/A	N/A	$0
Net Income	-$32.3M+56.1%	-$73.5M-46.6%	-$50.1M-23.0%	-$40.8M-1.0%	-$40.4M-124.9%	-$18.0M
EPS (Diluted)	$-0.42+61.1%	$-1.08-36.7%	$-0.79-23.4%	$-0.64+3.0%	$-0.66-24.5%	$-0.53

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$2.2M+93.2%	$1.2M-10.4%	$1.3M-18.0%	$1.6M+24.3%	$1.3M-8.2%	$1.4M+26.8%	$1.1M-45.5%	$2.0M
Cost of Revenue	N/A	$1.6M-23.6%	$2.1M+11.4%	$1.8M	N/A	$1.6M+15.4%	$1.4M-30.7%	$2.1M
Gross Profit	$375K+191.2%	-$411K+46.0%	-$761K-187.2%	-$265K+94.7%	-$5.0M-1805.4%	-$260K+21.9%	-$333K-528.3%	-$53K
R&D Expenses	N/A	$2.9M+14.2%	$2.6M-1.3%	$2.6M	N/A	$2.3M-1.1%	$2.4M-13.9%	$2.7M
SG&A Expenses	N/A	$2.6M-6.6%	$2.8M-30.4%	$4.0M	N/A	$4.3M-3.2%	$4.5M+9.6%	$4.1M
Operating Income	N/A	-$7.5M+4.6%	-$7.9M+10.5%	-$8.8M	N/A	-$9.3M+77.2%	-$40.7M-303.6%	-$10.1M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$8.6M-17.1%	-$7.4M+4.1%	-$7.7M+11.3%	-$8.6M+36.7%	-$13.7M-48.1%	-$9.2M+77.3%	-$40.6M-304.2%	-$10.0M
EPS (Diluted)	$-0.12-33.3%	$-0.09+10.0%	$-0.10+9.1%	$-0.11+31.3%	$-0.16-14.3%	$-0.14+77.4%	$-0.62-287.5%	$-0.16

VUZI Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$40.1M+1.7%	$39.4M-54.3%	$86.1M-34.3%	$131.1M-11.7%	$148.5M+182.9%	$52.5M
Current Assets	$27.2M+1.8%	$26.7M-35.6%	$41.5M-54.2%	$90.6M-33.9%	$137.2M+204.4%	$45.1M
Cash & Equivalents	$21.2M+16.3%	$18.2M-31.5%	$26.6M-63.4%	$72.6M-39.6%	$120.2M+233.3%	$36.1M
Inventory	$2.2M-54.5%	$4.8M-46.5%	$9.0M-20.1%	$11.3M-7.3%	$12.2M+99.2%	$6.1M
Accounts Receivable	$1.6M+1.1%	$1.6M-57.9%	$3.8M+7.6%	$3.6M+58.7%	$2.2M+61.5%	$1.4M
Goodwill	N/A	N/A	N/A	$1.6M	N/A	N/A
Total Liabilities	$15.4M+628.6%	$2.1M-60.5%	$5.4M-65.6%	$15.6M+228.8%	$4.7M+13.7%	$4.2M
Current Liabilities	$4.9M+131.4%	$2.1M-59.5%	$5.2M-65.9%	$15.3M+267.6%	$4.2M+34.3%	$3.1M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$24.7M-33.8%	$37.3M-53.8%	$80.8M-30.0%	$115.5M-19.6%	$143.7M+197.6%	$48.3M
Retained Earnings	-$399.9M-8.8%	-$367.5M-25.0%	-$294.0M-20.6%	-$243.8M-20.1%	-$203.1M-24.8%	-$162.7M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$40.1M-5.7%	$42.5M+15.1%	$36.9M+3.2%	$35.8M-9.2%	$39.4M-5.8%	$41.8M+9.4%	$38.2M-50.3%	$77.0M
Current Assets	$27.2M-3.7%	$28.2M+21.0%	$23.3M+4.2%	$22.4M-16.2%	$26.7M-6.9%	$28.7M+16.4%	$24.7M-24.5%	$32.7M
Cash & Equivalents	$21.2M-6.5%	$22.6M+29.5%	$17.5M+14.6%	$15.2M-16.3%	$18.2M+27.4%	$14.3M+44.4%	$9.9M-40.1%	$16.5M
Inventory	$2.2M-24.4%	$2.9M-12.4%	$3.3M-22.7%	$4.3M-11.2%	$4.8M-51.0%	$9.8M-4.0%	$10.2M+3.7%	$9.9M
Accounts Receivable	$1.6M+58.7%	$1.0M-15.6%	$1.2M-15.3%	$1.4M-10.9%	$1.6M-39.9%	$2.7M-11.5%	$3.0M-34.7%	$4.6M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$15.4M+5.5%	$14.6M+81.5%	$8.0M+175.7%	$2.9M+38.0%	$2.1M-7.9%	$2.3M-18.9%	$2.8M-26.4%	$3.8M
Current Liabilities	$4.9M+23.6%	$4.0M+30.2%	$3.0M+4.2%	$2.9M+38.0%	$2.1M-3.2%	$2.2M-15.7%	$2.6M-25.5%	$3.5M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$24.7M-11.5%	$27.9M-3.4%	$28.9M-12.1%	$32.8M-11.9%	$37.3M-5.7%	$39.6M+11.7%	$35.4M-51.6%	$73.1M
Retained Earnings	-$399.9M-2.2%	-$391.2M-1.9%	-$383.8M-2.0%	-$376.2M-2.4%	-$367.5M-3.9%	-$353.9M-2.7%	-$344.6M-13.4%	-$304.0M

VUZI Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$18.8M+20.9%	-$23.7M+9.7%	-$26.3M-7.2%	-$24.5M+9.1%	-$27.0M-93.2%	-$14.0M
Capital Expenditures	$2.0M+48.2%	$1.4M-74.5%	$5.3M+208.9%	$1.7M-54.8%	$3.8M+667.0%	$497K
Free Cash Flow	-$20.8M+17.1%	-$25.1M+20.6%	-$31.6M-20.4%	-$26.2M+14.8%	-$30.8M-112.9%	-$14.5M
Investing Cash Flow	-$2.6M+10.3%	-$2.9M+84.9%	-$19.3M+8.9%	-$21.2M-336.3%	-$4.9M-226.7%	-$1.5M
Financing Cash Flow	$24.4M+33.2%	$18.3M+4168.5%	-$450K+76.9%	-$1.9M-101.7%	$116.0M+183.4%	$40.9M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	$471K-76.5%	$2.0M	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	-$5.6M-11.2%	-$5.0M-4.3%	-$4.8M-38.6%	-$3.5M+14.1%	-$4.0M+23.8%	-$5.3M+6.4%	-$5.6M+36.0%	-$8.8M
Capital Expenditures	$355K+11.5%	$318K-56.3%	$727K+18.6%	$613K+166.8%	$230K+15.2%	$199K-75.9%	$828K+718.3%	$101K
Free Cash Flow	-$5.9M-11.3%	-$5.3M+3.7%	-$5.5M-35.6%	-$4.1M+4.4%	-$4.3M+22.4%	-$5.5M+15.3%	-$6.5M+27.4%	-$8.9M
Investing Cash Flow	-$528K-15.1%	-$458K+47.2%	-$868K-13.6%	-$764K-116.3%	-$353K-6.2%	-$333K+66.2%	-$985K+21.1%	-$1.2M
Financing Cash Flow	$4.6M-56.4%	$10.6M+34.6%	$7.9M+524.2%	$1.3M-84.8%	$8.3M	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

VUZI Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	-16.9%+80.4pp	-97.3%-75.6pp	-21.7%-34.3pp	12.5%+0.6pp	11.9%+6.8pp	5.2%
Operating Margin	-517.6%+767.8pp	-1285.4%-854.2pp	-431.2%-74.4pp	-356.8%-53.1pp	-303.7%-138.5pp	-165.2%
Net Margin	-513.8%+764.1pp	-1277.9%-864.5pp	-413.5%-69.0pp	-344.4%-37.7pp	-306.7%-151.7pp	-155.0%
Return on Equity	-130.8%+66.4pp	-197.2%-135.1pp	-62.1%-26.8pp	-35.3%-7.2pp	-28.1%+9.1pp	-37.2%
Return on Assets	-80.5%+106.1pp	-186.6%-128.4pp	-58.2%-27.1pp	-31.1%-3.9pp	-27.2%+7.0pp	-34.2%
Current Ratio	5.56-7.1	12.65+4.7	7.96+2.0	5.93-27.1	33.00+18.4	14.56
Debt-to-Equity	0.62+0.6	0.060.0	0.07-0.1	0.13+0.1	0.03-0.1	0.09
FCF Margin	-331.2%+104.9pp	-436.2%-175.6pp	-260.5%-38.8pp	-221.7%+12.1pp	-233.9%-109.0pp	-124.9%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	16.7%+52.1pp	-35.4%+23.3pp	-58.7%-42.0pp	-16.8%+372.7pp	-389.5%-370.7pp	-18.8%+11.7pp	-30.5%-27.8pp	-2.6%
Operating Margin	N/A	-645.5%-39.3pp	-606.1%-51.1pp	-555.0%	N/A	-670.9%+3055.5pp	-3726.5%-3222.9pp	-503.6%
Net Margin	-384.1%+249.3pp	-633.4%-41.9pp	-591.5%-45.2pp	-546.4%+527.2pp	-1073.6%-408.2pp	-665.4%+3050.3pp	-3715.7%-3214.3pp	-501.4%
Return on Equity	-34.9%-8.5pp	-26.4%+0.2pp	-26.6%-0.3pp	-26.3%+10.3pp	-36.6%-13.3pp	-23.3%+91.4pp	-114.7%-101.0pp	-13.7%
Return on Assets	-21.5%-4.2pp	-17.3%+3.5pp	-20.8%+3.4pp	-24.1%+10.5pp	-34.7%-12.6pp	-22.0%+84.2pp	-106.2%-93.2pp	-13.1%
Current Ratio	5.56-1.6	7.14-0.5	7.680.0	7.68-5.0	12.65-0.5	13.16+3.6	9.53+0.1	9.41
Debt-to-Equity	0.62+0.1	0.52+0.2	0.28+0.2	0.09+0.0	0.060.0	0.06-0.0	0.08+0.0	0.05
FCF Margin	-263.4%+194.0pp	-457.4%-31.9pp	-425.6%-168.3pp	-257.2%+77.0pp	-334.3%+60.8pp	-395.1%+196.2pp	-591.4%-146.9pp	-444.4%

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Frequently Asked Questions

What is Vuzix's annual revenue?

Vuzix (VUZI) reported $6.3M in total revenue for fiscal year 2025. This represents a 9.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Vuzix's revenue growing?

Vuzix (VUZI) revenue grew by 9.1% year-over-year, from $5.8M to $6.3M in fiscal year 2025.

Is Vuzix profitable?

No, Vuzix (VUZI) reported a net income of -$32.3M in fiscal year 2025, with a net profit margin of -513.8%.

What is Vuzix's EBITDA?

Vuzix (VUZI) had EBITDA of -$30.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Vuzix's gross margin?

Vuzix (VUZI) had a gross margin of -16.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Vuzix's operating margin?

Vuzix (VUZI) had an operating margin of -517.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Vuzix's net profit margin?

Vuzix (VUZI) had a net profit margin of -513.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Vuzix's return on equity (ROE)?

Vuzix (VUZI) has a return on equity of -130.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Vuzix's free cash flow?

Vuzix (VUZI) generated -$20.8M in free cash flow during fiscal year 2025. This represents a 17.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Vuzix's operating cash flow?

Vuzix (VUZI) generated -$18.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Vuzix's total assets?

Vuzix (VUZI) had $40.1M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Vuzix's capital expenditures?

Vuzix (VUZI) invested $2.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Vuzix spend on research and development?

Vuzix (VUZI) invested $12.6M in research and development during fiscal year 2025.

How many shares does Vuzix have outstanding?

Vuzix (VUZI) had 81M shares outstanding as of fiscal year 2025.

What is Vuzix's current ratio?

Vuzix (VUZI) had a current ratio of 5.56 as of fiscal year 2025, which is generally considered healthy.

What is Vuzix's debt-to-equity ratio?

Vuzix (VUZI) had a debt-to-equity ratio of 0.62 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Vuzix's return on assets (ROA)?

Vuzix (VUZI) had a return on assets of -80.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Vuzix's cash runway?

Based on fiscal year 2025 data, Vuzix (VUZI) had $21.2M in cash against an annual operating cash burn of $18.8M. This gives an estimated cash runway of approximately 14 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Vuzix's Piotroski F-Score?

Vuzix (VUZI) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Vuzix's earnings high quality?

Vuzix (VUZI) has an earnings quality ratio of 0.58x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Vuzix?

Vuzix (VUZI) scores 40 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.