Vuzix Stock Price, News & Analysis

Vuzix Corporation (NASDAQ: VUZI), a leading provider of Smart Glasses and Augmented Reality (AR) products, will participate in the 19th Annual Craig-Hallum Institutional Investor Conference on June 1, 2022. This event will be virtual, allowing institutional investors to schedule one-on-one meetings with the company's management through their Craig-Hallum sales representatives. Vuzix, established in 1997, holds 246 patents and has received multiple awards for innovation.

Vuzix Corporation (NASDAQ: VUZI) will showcase its smart glasses and OEM white label offerings at the Augmented World Expo USA 2022, scheduled for June 1-3 in Santa Clara, California. Vuzix will also feature its Vuzix Shield™ and collaborate with Signify to demonstrate the Trulifi solution, which provides rapid, reliable wireless communication for various industries. The event highlights Vuzix’s innovative capabilities in augmented reality, including its advanced waveguides and micro-display technologies.

Vuzix Corporation (NASDAQ: VUZI) announced a panel discussion with Ricoh and TeamViewer on May 24, 2022, in Japan to discuss the broadening use of Vuzix smart glasses. Ricoh has incorporated Vuzix M400 smart glasses since late 2020, improving customer service by reducing servicing times by two hours per case. Additionally, Ricoh has integrated these smart glasses into its internship program, attracting more student interest in employment opportunities. Vuzix CEO Paul Travers emphasized the multifunctional value of their smart glasses for companies like Ricoh.

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.