Vuzix Financials
Vuzix (VUZI) reported $5.9M in revenue over the twelve months to Jun 30, 2026, up 6.8% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
Vuzix remains a cash-burning development-stage business, with overhead cuts and cleaner production economics driving the latest improvement.
FY2025 free cash burn of$20.8M nearly matched the year-end cash balance of$21.2M , so liquidity depended on fresh capital. A$24.4M financing inflow more than covered that burn while revenue was only$6.3M , showing the company still funds development externally rather than through sales or internally generated cash.
Loss improvement in FY2025 came from cost mix changes, not scale: SG&A fell to
Gross economics improved even though they remain negative: gross loss narrowed from
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Vuzix's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Vuzix scores -7.20, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($221.2M) relative to total liabilities ($15.4M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Vuzix passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
Vuzix reported a net loss of $32.3M while operations used $18.8M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Vuzix generated $6.3M in revenue in fiscal year 2025. This represents an increase of 9.1% from the prior year.
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.
Vuzix reported -$32.3M in net income in fiscal year 2025. This represents an increase of 56.1% from the prior year.
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
Vuzix recorded an outflow of $20.8M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents an increase of 17.1% from the prior year.
Vuzix held $21.2M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
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.
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.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Vuzix invested $12.6M in research and development in fiscal year 2025. This represents an increase of 31.2% from the prior year.
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.
Not reported for fiscal year 2025.
VUZI Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.1M-20.0% | $1.4M-38.0% | $2.2M+93.2% | $1.2M-10.4% | $1.3M-18.0% | $1.6M+24.3% | $1.3M-8.2% | $1.4M |
| Cost of Revenue | $1.8M-0.6% | $1.8M | N/A | $1.6M-23.6% | $2.1M+11.4% | $1.8M | N/A | $1.6M |
| Gross Profit | -$645K-70.8% | -$378K-200.8% | $375K+191.2% | -$411K+46.0% | -$761K-187.2% | -$265K+94.6% | -$5.0M-1805.4% | -$260K |
| R&D Expenses | $3.1M+2.3% | $3.0M | N/A | $2.9M+14.2% | $2.6M-1.3% | $2.6M | N/A | $2.3M |
| SG&A Expenses | $2.7M+25.7% | $2.1M | N/A | $2.6M-6.6% | $2.8M-30.4% | $4.0M | N/A | $4.3M |
| Operating Income | -$7.8M-7.6% | -$7.2M | N/A | -$7.5M+4.6% | -$7.9M+10.5% | -$8.8M | N/A | -$9.3M |
| Net Income | -$7.6M-7.9% | -$7.1M+17.9% | -$8.6M-17.1% | -$7.4M+4.1% | -$7.7M+11.2% | -$8.6M+36.7% | -$13.7M-48.1% | -$9.2M |
| EPS (Diluted) | -$0.090.0% | -$0.09+25.0% | -$0.12-33.3% | -$0.09+10.0% | -$0.10+9.1% | -$0.11+31.3% | -$0.16-14.3% | -$0.14 |
Not reported in any period shown, so not listed: Interest Expense, Income Tax.
VUZI Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $35.2M-8.3% | $38.4M-4.2% | $40.1M-5.7% | $42.5M+15.1% | $36.9M+3.2% | $35.8M-9.2% | $39.4M-5.8% | $41.8M |
| Current Assets | $21.9M-11.8% | $24.8M-8.9% | $27.2M-3.7% | $28.2M+21.0% | $23.3M+4.2% | $22.4M-16.2% | $26.7M-6.9% | $28.7M |
| Cash & Equivalents | $17.3M-14.2% | $20.2M-4.6% | $21.2M-6.5% | $22.6M+29.5% | $17.5M+14.6% | $15.2M-16.3% | $18.2M+27.4% | $14.3M |
| Inventory | $1.8M-2.1% | $1.8M-17.9% | $2.2M-24.4% | $2.9M-12.4% | $3.3M-22.7% | $4.3M-11.2% | $4.8M-51.0% | $9.8M |
| Accounts Receivable | $1.1M+25.7% | $875K-46.3% | $1.6M+58.7% | $1.0M-15.6% | $1.2M-15.3% | $1.4M-10.9% | $1.6M-39.9% | $2.7M |
| Total Liabilities | $14.1M-2.1% | $14.4M-6.6% | $15.4M+5.5% | $14.6M+81.5% | $8.0M+175.7% | $2.9M+38.0% | $2.1M-7.9% | $2.3M |
| Current Liabilities | $3.8M-4.2% | $4.0M-18.1% | $4.9M+23.6% | $4.0M+30.2% | $3.0M+4.2% | $2.9M+38.0% | $2.1M-3.2% | $2.2M |
| Total Equity | $21.1M-12.0% | $24.0M-2.8% | $24.7M-11.5% | $27.9M-3.4% | $28.9M-12.1% | $32.8M-11.9% | $37.3M-5.7% | $39.6M |
| Retained Earnings | -$414.6M-1.9% | -$407.0M-1.8% | -$399.9M-2.2% | -$391.2M-1.9% | -$383.8M-2.0% | -$376.2M-2.4% | -$367.5M-3.9% | -$353.9M |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
VUZI Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$6.6M-18.7% | -$5.6M0.0% | -$5.6M-11.2% | -$5.0M-4.3% | -$4.8M-38.6% | -$3.5M+14.1% | -$4.0M+23.8% | -$5.3M |
| Capital Expenditures | $217K-78.2% | $996K+181.0% | $355K+11.5% | $318K-56.3% | $727K+18.6% | $613K+166.8% | $230K+15.2% | $199K |
| Free Cash Flow | -$6.8M-4.0% | -$6.6M-10.9% | -$5.9M-11.3% | -$5.3M+3.7% | -$5.5M-35.6% | -$4.1M+4.4% | -$4.3M+22.4% | -$5.5M |
| Investing Cash Flow | -$365K+68.8% | -$1.2M-122.1% | -$528K-15.1% | -$458K+47.2% | -$868K-13.6% | -$764K-116.3% | -$353K-6.2% | -$333K |
| Financing Cash Flow | $4.1M-28.8% | $5.7M+24.2% | $4.6M-56.4% | $10.6M+34.6% | $7.9M+524.2% | $1.3M-84.8% | $8.3M | N/A |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
VUZI Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | -58.0%-30.8pp | -27.2%-43.9pp | 16.7%+52.1pp | -35.4%+23.4pp | -58.8%-42.0pp | -16.8% | -389.5% | -18.8% |
| Operating Margin | -696.4% | -517.9% | N/A | -645.5% | -606.3% | -555.0% | N/A | -670.9% |
| Net Margin | -685.1% | -508.2% | -384.1% | -633.4% | -591.7% | -546.4% | -1073.6% | -665.4% |
| Return on Equity | -36.1%-6.7pp | -29.5%+5.4pp | -34.9%-8.5pp | -26.4%+0.2pp | -26.6%-0.3pp | -26.3%+10.3pp | -36.6%-13.3pp | -23.3% |
| Return on Assets | -21.7%-3.3pp | -18.4%+3.1pp | -21.5%-4.2pp | -17.3%+3.5pp | -20.8%+3.4pp | -24.1%+10.5pp | -34.7%-12.6pp | -22.0% |
| Current Ratio | 5.70-0.5x | 6.19+0.6x | 5.56-1.6x | 7.14-0.5x | 7.680.0x | 7.68-5.0x | 12.65-0.5x | 13.16 |
| Debt-to-Equity | 0.67+0.1x | 0.600.0x | 0.62+0.1x | 0.52+0.2x | 0.28+0.2x | 0.090.0x | 0.060.0x | 0.06 |
| FCF Margin | -611.9% | -470.9% | -263.4% | -457.4% | -425.7% | -257.3% | -334.3% | -395.1% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Gross Margin, Operating Margin, Net Margin, FCF Margin.
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Where Vuzix Ranks
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.
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 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) recorded an outflow of $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) recorded an outflow of $18.8M in operating cash flow during fiscal year 2025, representing cash used by 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.
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.
How does Vuzix's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Vuzix (VUZI) held $21.2M in cash, cash equivalents and investments, and reported an operating cash outflow of $18.8M over that year. Dividing the one by the other, the reported balance equals about 14 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Vuzix's Altman Z-Score?
Vuzix (VUZI) has an Altman Z-Score of -7.20, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Vuzix's Piotroski F-Score?
Vuzix (VUZI) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Vuzix's earnings high quality?
Vuzix (VUZI) reported a net loss of $32.3M while operations used $18.8M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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 47 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.