eMagin Corporation (NYSE American: EMAN) announced on August 13, 2020, that it has been granted two new patents for its Direct Patterning Display (dPdTM) technology. This innovation enhances OLED microdisplays, enabling direct patterning of RGB color emitters at over 2,700 pixels per inch, which significantly improves brightness and light output. eMagin aims to achieve brightness levels exceeding 10,000 cd/m2 by Q4 2020, with future targets of over 28,000 cd/m2. The technology supports various applications, including AR/VR headsets, which are projected to reach over 100 million units in 2023.
eMagin Corporation (NYSE American: EMAN) reported second-quarter 2020 revenue of $7.7 million, a 44% increase year-over-year and 15% sequentially. The company, deemed essential during the COVID-19 pandemic, recorded a decline in operating loss from $2.9 million to $1.3 million. With a backlog of $14.5 million and significant Department of Defense awards totaling $39.1 million, eMagin is poised for growth. However, the net loss increased to $2.8 million, reflecting ongoing challenges. The company anticipates equipment deliveries starting Q2 2021 and maintains a strong cash position of $5.4 million.
eMagin Corporation (NYSE American: EMAN) has been awarded two new patents for its Direct Patterning Display (dPdTM) technology, enhancing its portfolio to 16 patents. This proprietary technology enables OLED microdisplays to achieve over 2,700 pixels per inch and brightness exceeding 7,500 cd/m2, with targets of 10,000 cd/m2 and 28,000 cd/m2. The patents solidify eMagin's position in the AR/VR market, which is expected to exceed 100 million units in 2023, offering significant licensing revenue opportunities and addressing display limitations crucial for Heads Up Displays in bright environments.
eMagin Corporation (NYSE American: EMAN) reported Q2 2020 revenues of $7.7 million, reflecting a 44% increase year-over-year and a 15% sequential rise. The company achieved solid bookings, growing its backlog to $14.5 million, with $13.2 million shippable within a year. A reduced operating loss of $1.3 million was seen, down from $2.9 million in Q2 2019. Significant government contracts totaling $39.1 million were awarded, boosting liquidity. The company emphasizes its role in military programs and increased R&D investment for its direct patterning technology.