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 (NASDAQ: VUZI) regularly issues news about its AI-powered smart glasses, waveguides and augmented reality (AR) technologies, giving investors and industry followers insight into how its products and partnerships are developing. The company’s releases describe activity across enterprise, medical, defense, security and consumer markets, as well as updates on its role as both a smart glasses manufacturer and an OEM supplier of waveguide optics and display engines.
Recent news has highlighted enterprise deployments of Vuzix smart glasses, including follow-on volume orders of M400 smart glasses kits from a leading global online retailer to support warehouse infrastructure operations. Other announcements focus on defense collaborations, such as the continuation of a multi-year development relationship with Collins Aerospace involving waveguide-based AR display systems for U.S. Department of Defense programs and military helmet integrations.
Vuzix news also covers technology partnerships and reference designs. Examples include jointly developed binocular AR smart glasses reference designs with Avegant and Quanta Computer, and an optical component reference design for AR glasses with Himax that combines Vuzix waveguides with compact LCoS microdisplays. These stories illustrate how Vuzix positions its waveguide technology and display engines within a broader AR hardware ecosystem.
In addition, the company reports on industry events and ecosystem participation, such as showcasing its smart glasses and waveguide solutions at CES and joining The AR Alliance, as well as strategic partnerships like its collaboration with BUNDLAR to deliver no-code XR content to Vuzix devices. Visitors to this news page can review these updates to understand how Vuzix is applying its AR and optics technologies in real-world deployments, partnerships and industry initiatives over time.
Vuzix Corporation (VUZI) has expanded its market presence by signing a distribution agreement with Robotiques Cyborg, a French technology distributor. This partnership includes an initial order worth $300,000 for Vuzix smart glasses. Robotiques Cyborg targets sectors such as robotics and cybersecurity and aims to leverage Vuzix's technology for applications like remote meetings and robotic control. CEO Paul Travers emphasized the advantages this partnership will bring to customers across various industries, enhancing service delivery and operational efficiency.
Vuzix Corporation (NASDAQ: VUZI) has announced that Osaka Saiseikai Izuo Hospital in Japan is utilizing its M400 smart glasses for remote medical support in infectious disease zones. The glasses facilitate communication between healthcare professionals in contaminated areas and those in safer zones, enhancing operational efficiency. They support critical tasks like confirming medications and remotely assisting with advanced medical equipment. Vuzix's CEO emphasized the increasing adoption of their technology in hospitals worldwide.
On March 24, 2022, Vuzix Corporation (NASDAQ: VUZI) announced a strategic partnership with Icona Srl to integrate Acty, an innovative remote video assistance software, with Vuzix's smart glasses. This collaboration aims to enhance operational efficiency in the manufacturing sector, especially in complex environments. The combination allows technicians to receive hands-free support, reducing travel expenses and improving problem diagnosis. Acty is designed to facilitate real-time communication and guidance during service interventions, making it a compelling solution for various industries.
Vuzix Corporation (NASDAQ: VUZI) announced growing orders for its smart glasses from healthcare firms like Pixee Medical and Rods&Cones, indicating increased adoption in the operating room. Pixee Medical's Knee+ solution will launch in the US, enhancing AR capabilities for orthopedic surgeries. Rods&Cones reports usage in over 600 hospitals worldwide, emphasizing a shift toward remote technology. This expansion in healthcare applications positions Vuzix as a key player in transforming medical practices.
Vuzix Corporation (NASDAQ: VUZI) has announced a new distribution agreement with Converge IoT, a distributor specializing in 4G LTE and 5G solutions. This partnership will enable the sale of Vuzix smart glasses across multiple sectors utilizing T-Mobile's extensive 5G network. The agreement aims to enhance sales and support for North American customers, particularly in industries such as healthcare, construction, and utilities. Vuzix has already fulfilled an initial order from Converge IoT, indicating strong demand.
Vuzix Corporation (NASDAQ: VUZI) announced its participation in Modex 2022, showcasing its M400 smart glasses alongside ProGlove's barcode scanners. The demonstration aims to illustrate hands-free warehouse operations, enhancing efficiency and safety for workers. Vuzix's smart glasses offer ergonomic design, an unobtrusive display, and integration with major conferencing platforms. Both companies emphasize their shared goal of improving workplace productivity through innovative wearable technology. The event will take place in Atlanta, GA, from March 28–31, 2022.
Vuzix Corporation (NASDAQ: VUZI) announced its participation in two in-person investor conferences this March. The events are:
- March 8: Opal's Annual Family Office Winter Forum at Marriott Marquis, New York, NY. Vuzix will showcase its smart glasses and conduct investor meetings.
- March 14: 34th Annual Roth Conference at The Ritz Carlton, Laguna Niguel, CA. Management will host one-on-one meetings with institutional investors.
Vuzix is a leader in AR technology, holding 241 patents and multiple CES innovation awards.
On March 4, 2022, Vuzix Corporation (NASDAQ: VUZI) announced a follow-on order worth $200,000 from a Fortune 50 Online Retailer for its smart glasses. This order aims to support enhanced training and remote maintenance across warehouses, following a successful proof-of-concept (POC) deployment last year. Initially, Vuzix smart glasses were deployed in 40 warehouses, and this order will facilitate further expansion in existing locations and new sites. Vuzix continues to showcase its leadership in Smart Glasses and Augmented Reality technologies.
On March 2, 2022, Vuzix Corporation (NASDAQ: VUZI) announced a $25 million share buyback program, set to expire on March 2, 2023. The program allows for the repurchase of common stock in open market or negotiated transactions. The actual repurchase timing and volume will depend on market conditions and management's discretion. Based on the closing stock price on March 1, 2022, the program could potentially repurchase about 4 million shares, or approximately 6% of outstanding shares. This initiative reflects the company's confidence in its long-term growth potential.
Vuzix Corporation (NASDAQ: VUZI) reported a 27% year-over-year increase in smart glasses revenue for 2021, contributing to total revenues of $13.2 million, up 14% from 2020. Despite growth, the company faced net losses of $40.4 million, compared to $18 million in 2020. Operating expenses surged, particularly in R&D and general administration, leading to a net cash operating loss of $20 million. Vuzix anticipates continued growth driven by increasing enterprise adoption of AR technologies and is considering a $25 million share buyback program to address perceived undervaluation.
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