Vuzix Expands OEM Defense Program Base with New Six-Figure Waveguide Development Order from a Leading U.S. Defense Contractor
Rhea-AI Summary
Vuzix Corporation (NASDAQ: VUZI) has secured a new six-figure development order for customized waveguides from a major U.S. defense contractor. The waveguides will be integrated into a new lightweight heads-up display (HUD) system designed for military personnel.
The order highlights Vuzix's growing position as a key supplier of advanced see-through display technologies in the defense sector, leveraging their U.S.-based manufacturing capabilities. CEO Paul Travers noted that the company's involvement in defense programs continues to expand.
Positive
- Secured new six-figure development order from major U.S. defense contractor
- Expanding presence in the defense sector
- Strategic positioning as a U.S.-based manufacturer for military applications
Negative
- None.
News Market Reaction
On the day this news was published, VUZI gained 0.99%, reflecting a mild positive market reaction. Argus tracked a peak move of +8.5% during that session. Our momentum scanner triggered 15 alerts that day, indicating notable trading interest and price volatility. This price movement added approximately $2M to the company's valuation, bringing the market cap to $235M at that time.
Data tracked by StockTitan Argus on the day of publication.
"Our advanced see-through display technologies and
About Vuzix Corporation
Vuzix is a leading designer, manufacturer and marketer of AI-powered Smart Glasses, Waveguides and Augmented Reality (AR) technologies, components and products for the enterprise, medical, defense and consumer markets. The Company's products include head-mounted smart personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality, as well OEM waveguide optical components and display engines. Vuzix holds more than 450 patents and patents pending and numerous IP licenses in the fields of optics, head-mounted displays, and the augmented reality wearables field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2024 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in:
Forward-Looking Statements Disclaimer
Certain statements contained in this news release are "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward-looking statements contained in this release relate to Vuzix' business growth with this defense customer, further development programs, future orders, including potential volume production and the ultimate success of their respective programs and among other things the Company's leadership in the Smart Glasses and AR display industry. They are generally identified by words such as "believes," "may," "expects," "anticipates," "should" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports and MD&A filed with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com or www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.
Media and Investor Relations Contact:
Ed McGregor, Director of Investor Relations
Vuzix Corporation
ed_mcgregor@vuzix.com
Tel: (585) 359-5985
Vuzix Corporation, 25 Hendrix Road,
Investor Information – IR@vuzix.comwww.vuzix.com
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SOURCE Vuzix Corporation