Welcome to our dedicated page for Vuzix news (Ticker: VUZI), a resource for investors and traders seeking the latest updates and insights on Vuzix stock.
Vuzix Corporation (VUZI) is a leading innovator in augmented reality smart glasses and wearable display technologies, serving enterprise, medical, and consumer markets. This news hub provides investors and industry observers with direct access to official announcements and market developments.
Key updates include product launch details, financial results, technology partnerships, and industry recognition. Our curated collection features earnings reports, AR innovation announcements, OEM collaborations, and patent developments directly from corporate sources.
Bookmark this page for streamlined tracking of Vuzix's progress in advancing waveguide optics and AI-powered smart glasses. Check regularly for verified updates on the company's expanding role in industrial AR solutions and consumer wearable tech markets.
On May 18, 2022, Vuzix Corporation (NASDAQ: VUZI) announced a strategic partnership with Atomistic SAS, securing an exclusive license for key micro LED technology and custom backplane design. This collaboration aims to enhance Augmented Reality (AR) applications with advanced microdisplay solutions, potentially creating a high-efficiency, ultra-compact form factor. The partnership seeks to align both companies' efforts to meet growing AR market demands, with a projected market size comparable to the smartphone market. Details were outlined in an 8-K filing with the SEC.
Vuzix Corporation (NASDAQ: VUZI) has announced a conference call scheduled for May 18, 2022, at 4:30 PM ET to discuss a significant corporate development. Interested participants can join by calling 877-709-8150 (US/Canada) or 201-689-8354 (international). A webcast of the call will also be available on the company's investor relations page. Vuzix is recognized for its innovations in Smart Glasses and Augmented Reality technology, holding 246 patents and numerous awards, including accolades from CES from 2005 to 2022.
On May 10, 2022, Vuzix Corporation (NASDAQ: VUZI) reported its Q1 2022 results, showing a 36% decrease in total revenues to $2.5 million compared to $3.9 million in Q1 2021. Lower smart glasses sales of $1.4 million, down 37%, contributed to this decline. Gross profit fell to $0.6 million (26% of revenues). Operating expenses rose by 8.7% year-over-year to $11.1 million. The net loss was $10.5 million, slightly higher than the loss of $9.2 million in the same quarter last year. Despite challenges, management remains optimistic about future growth in smart glasses adoption.
Vuzix Corporation (NASDAQ: VUZI) announced follow-on orders from three defense contractors for waveguide-based products, advancing towards volume commercial rollouts. This includes engagements with five contractors at various development stages. Vuzix aims for further non-recurring engineering (NRE) agreements and production components as it continues refining AR technologies. CEO Paul Travers noted the growing need for AR devices in defense, highlighting Vuzix's unique position as a US-based waveguide manufacturer.
Vuzix Corporation (NASDAQ: VUZI) will showcase its OEM design and manufacturing platform at SID Display Week 2022 in San Jose, California, from May 10-12. The new offering aims to provide advanced waveguides and micro-display technologies to customers across various markets, including consumer and defense. With over 25 years of experience, Vuzix can deliver high-quality, modular optical solutions and application software, allowing clients to expedite their time to market while cutting engineering costs. CEO Paul Travers emphasized the platform's potential for industry-wide innovation.
Vuzix Corporation (NASDAQ: VUZI) has released an OS update (Version 2.5) for its M400 and M4000 smart glasses, enhancing language support to include voice recognition for 28 languages. This update follows the company's expansion in Europe and Asia. The new software positions Vuzix as a leader in language accessibility in the smart glasses market. A webinar is scheduled for May 5 to demonstrate the expanded features.
Vuzix (NASDAQ: VUZI) has partnered with Ohana One and TeleVU to donate M400 smart glasses to support medical professionals in Ukraine amidst the ongoing humanitarian crisis. These smart glasses will enhance surgical support by allowing real-time connectivity between local doctors and global medical experts. The initiative aims to address the overwhelming number of casualties due to the ongoing conflict since February 24, 2022. CEO Paul Travers highlighted the vital role of this technology in providing timely assistance.
Vuzix Corporation (NASDAQ: VUZI), a leader in Smart Glasses and Augmented Reality (AR) technology, will host a conference call on May 10, 2022, at 4:30 PM ET to discuss its first quarter 2022 operating results. CEO Paul Travers and CFO Grant Russell will present operational and financial highlights for the period ended March 31, 2022. Investors can join via phone or through a webcast available on the investor relations page. Replays will be accessible for 30 days post-call.
Vuzix Corporation (NASDAQ: VUZI) announced its participation in the Field Service Palm Springs 2022 event, showcasing its smart glasses from April 26-28 in Palm Springs, CA. The event will feature various industries, including aerospace, construction, and telecommunications, focusing on applications like customer care and field service. Vuzix will support partners TeamViewer and Librestream at Kiosk S9. With 246 patents, Vuzix continues to lead in Smart Glasses and Augmented Reality technologies, aiming to enhance user experience across consumer and enterprise markets.
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