Vuzix Stock Price, News & Analysis

On December 9, 2020, Vuzix Corporation (NASDAQ: VUZI) announced that CH Four Biogas has started using Vuzix M400 Smart Glasses for remote plant inspections. This innovation allows inspections to be conducted efficiently without the need for travel, supporting CH Four's commitment to sustainability by reducing carbon emissions. Vuzix's technology promises significant time and travel savings, enhancing operational efficiency for clients in renewable energy.

Vuzix Corporation (NASDAQ: VUZI) will present at the Benzinga Global Small Cap Conference on December 8-9, 2020. CEO Paul Travers is scheduled to speak on December 9 at 10:15 AM EST. Vuzix is a leader in Smart Glasses and Augmented Reality, holding 179 patents in the field. Founded in 1997, the company has received multiple innovation awards, including CES awards from 2005 to 2020. Its products cater to both consumer and enterprise markets, providing advanced wearable technology solutions.

Vuzix Corporation (NASDAQ: VUZI) announced follow-on orders for M400 Smart Glasses from Pixee Medical to enhance the rollout of their augmented reality navigation system in Europe. Since the first AR Knee+ surgery in June 2020, over 40 procedures have been performed using Vuzix technology. Pixee Medical is expanding its distribution network across Europe and plans to enter the U.S. market pending FDA approval. This partnership underscores Vuzix's commitment to supporting innovative AR solutions in the healthcare sector.

Vuzix Corporation (NASDAQ: VUZI) announced expanded availability and support for its Zoom, Skype for Business, and Webex Teams connector applications, now optimized for M4000 and M400 Smart Glasses. Customer feedback has led to an improved user experience, including new speech command functionalities in Zoom, and the introduction of touchpad gestures for Webex Teams and Skype for Business. These updates, which enhance business operations in various sectors, will be delivered for free to existing customers via OTA updates. The latest applications are also available for purchase on the Vuzix App Store.

Vuzix Corporation (NASDAQ: VUZI) announced that its M400 Smart Glasses have been deployed by PGE Group, Poland's largest electric utility, to enhance maintenance at the Kisielice windfarm. The deployment, facilitated by 1000 Realities, utilizes the Edge Realities software platform, allowing operators to perform real-time inspections and report machinery status efficiently. This partnership highlights the demand for Vuzix's AR technology across various industries, signaling potential growth in smart glass applications.

Guardhat, in partnership with Vuzix (VUZI), has launched new smart glasses aimed at enhancing safety and productivity for front-line workers. These glasses utilize Guardhat's IIoT platform, Kyra, and integrate with Theia app for real-time location tracking. Key features include voice commands, wireless connectivity, VOIP communication, and offline functionality. The two variants are the HG1 and HG2, with the latter offering superior display technology. This innovation aims to support critical workers amid the ongoing pandemic.

Vuzix Corporation (NASDAQ: VUZI) announced receiving follow-on orders for M400 Smart Glasses from a Fortune 500 engine manufacturer and a leading pharmaceutical air transportation provider. Both customers conducted successful proof-of-concept evaluations, showing significant demand for remote guidance and training solutions amid the COVID-19 pandemic. Additionally, Brochesia, an Italian software provider, placed an undisclosed follow-on order for M400 Smart Glasses to support various industries. This trend indicates increasing customer adoption of Vuzix Smart Glasses in enterprise applications, enhancing operational efficiency.

On Nov. 10, 2020, Vuzix Corporation (NASDAQ: VUZI) announced receiving follow-on orders for M400 Smart Glasses from Dutch company 1Minuut Innovation. These glasses will be delivered to elderly care organizations in the Netherlands, addressing urgent COVID-19 remote healthcare needs. 1Minuut's Genzõ mobile platform enables secure video streaming and recording, facilitating remote medical assistance. Vuzix aims to support 1Minuut in enhancing telemedicine experiences and improving patient care in the Dutch health sector.

Vuzix Corporation (NASDAQ: VUZI) reported significant revenue growth, with smart glasses sales rising 156% year-over-year to $2.7 million in Q3 2020. This was driven by demand in healthcare and other enterprise sectors due to COVID-19. Total revenues for the quarter hit $2.8 million, up from $1.2 million in 2019. The company achieved a gross profit of $0.3 million, reversing a loss from the prior year. R&D expenses decreased by 20%, while net loss narrowed to $5.3 million from $6.0 million. Vuzix maintains $24.9 million in cash and expects ongoing growth in smart glass revenues.