Vuzix Reports Second Quarter 2026 Results
Rhea-AI Summary
Vuzix (NASDAQ: VUZI) reported second quarter 2026 revenue of $1.1 million, down 14% from $1.3 million a year earlier, with product sales of $0.9 million and engineering/OEM services of $0.2 million. Gross loss improved 15% to $0.6 million from $0.8 million.
Research and development expense rose 20% to $3.1 million, while selling and marketing and general and administrative costs declined to $1.2 million and $2.7 million, respectively. Net loss was roughly unchanged at $7.6 million, or $0.09 per share, vs. $0.10 per share in 2025.
Operating cash outflow increased to $6.6 million from $4.8 million. Vuzix ended June 30, 2026 with $17.3 million in cash and no debt. Operationally, the company highlighted initial Ultralite Pro shipments to Amazon, progress with Collins Aerospace, a leading global automaker, and orders from Augmex.
Positive
- Gross loss improved 15% to $0.6 million from $0.8 million
- Loss per share narrowed to $0.09 from $0.10 year over year
- Selling and marketing expense decreased 11% to $1.2 million
- General and administrative expense declined 3% to $2.7 million
- Cash balance of $17.3 million at June 30, 2026 with no debt
Negative
- Total revenue declined 14% to $1.1 million year over year
- Product sales fell 15% to $0.9 million
- Engineering and OEM services revenue decreased 8% to $0.2 million
- Research and development expense increased 20% to $3.1 million
- Net loss remained high at $7.6 million for the quarter
- Net cash used in operations rose to $6.6 million from $4.8 million
Market Reaction – VUZI
Following this news, VUZI has declined 6.82%, reflecting a notable negative market reaction. Our momentum scanner has triggered 6 alerts so far, indicating moderate trading interest and price volatility. The stock is currently trading at $2.46.
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"Our branded enterprise smart glasses business continues to generate revenue, customer insight and market credibility, while opening new doors for Vuzix in the smart glasses ecosystem as an OEM smart glasses, waveguides and display systems provider," said Paul Travers, President and Chief Executive Officer of Vuzix. "We delivered our initial next-generation Ultralite Pro glasses to Amazon for live commercial testing, expanded their M400 deployments across its fulfillment centers, moved our Collins Aerospace program into initial production deployments, delivered initial waveguide-based systems to a leading global automaker, and received initial and follow-on orders from Augmex for enterprise deployments. We continued to make further investments in our waveguide plant and manufacturing equipment to improve throughput, reduce development cycle times, and enable one production line to support development while another supports volume production, positioning Vuzix to execute an increasing number of simultaneous ODM/OEM, defense and waveguide programs."
The following table compares condensed elements of the Company's unaudited summarized Consolidated Statements of Operations data for the three months ended June 30, 2026 and 2025, respectively:
For Three Months Ended June 30 | |||||
( | |||||
2026 | 2025 | ||||
Sales: | |||||
Sales of Products | $ 884 | ||||
Sales of Engineering Services | 229 | 250 | |||
Total Sales | 1,113 | 1,296 | |||
Total Cost of Sales | 1,759 | 2,057 | |||
Gross Profit (Loss) | (645) | (761) | |||
Operating Expenses: | |||||
Research and Development | 3,098 | 2,571 | |||
Selling and Marketing | 1,210 | 1,353 | |||
General and Administrative | 2,682 | 2,757 | |||
Depreciation and Amortization | 118 | 413 | |||
Loss from Operations | (7,754) | (7,855) | |||
Total Other Income (Expense) | 125 | 189 | |||
Net Loss | (7,629) | (7,666) | |||
Loss per Common Share | $ (0.09) | $ (0.10) | |||
Second Quarter 2026 Financial Results
For the three months ended June 30, 2026, total revenues decreased by
There was an overall gross loss of
Research and Development expense was
Selling and Marketing expense was
General and Administrative expense for the three months ended June 30, 2026 was
For the second quarter ended June 30, 2026, the net loss attributable to common shareholders was
Net cash used in operating activities was
Management Outlook
"The smart glasses industry is entering a period of dynamic evolution as advances in AI and platform ecosystems support the transformation of the industry and ease application development for customers' specialized needs. Usable and deployable applications that can be integrated into existing customer IT environments with relative ease have long been a limiting factor in the enterprise smart glasses market," said Mr. Travers. "Fortune 500 companies are defining their AI and smart glasses strategies and have begun taking next steps to execute against their operational needs. AI can automate and improve many tasks, but skilled tradespeople, technicians and frontline workers operating in the physical world are not going away. At the same time the pull from end customers across our enterprise and ODM/OEM business areas for AI based smart glasses continue to gain momentum. Vuzix intends to continue investing in its waveguide innovation and furthering strategic relationships to better position us to capitalize on these opportunities, while simultaneously opening new opportunities beyond AI and AR applications across our main enterprise, defense and ODM/OEM markets," said Mr. Travers.
Conference Call Information
Date: Thursday, August 13, 2026
Time: 4:30 p.m. Eastern Time (ET)
Dial-in Number for
Dial-in Number for International Callers (Outside of the
A live and archived webcast of the conference call will be available on the investor relations page of the Company's website at: https://ir.vuzix.com/ or directly at https://event.choruscall.com/mediaframe/webcast.html?webcastid=y18QpYGD
Participating on the call will be Vuzix' Chief Executive Officer and President Paul Travers and Chief Financial Officer Grant Russell, who together will discuss operational and financial highlights for the quarter ended June 30, 2026.
To join the live conference call, please dial into the above referenced telephone numbers five to ten minutes prior to the scheduled conference call time.
A telephonic replay will be available for 30 days, starting on August 13, 2026, at approximately 5:30 p.m. (ET). To access this replay, please dial 877-660-6853 within the
About Vuzix Corporation
Vuzix is a leading designer, manufacturer and marketer of AI-powered smart glasses, waveguides and augmented reality technologies, components and products for the enterprise, medical, defense, security, and consumer markets. The Company's products include head-mounted smart personal displays and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality, as well as OEM waveguide optical components and display engines. Vuzix holds more than 500 patents and patents pending and numerous IP licenses in the fields of optics, head-mounted displays, and augmented reality. The Company has won over 20 Consumer Electronics Show (or CES) awards for innovation since 2005 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in: Rochester, NY; and Kyoto and Okayama, Japan. For more information, visit the Vuzix website, X and Facebook pages.
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, among other things, the timing of new product releases, opportunities related to market disruptions such as AI regarding smart glasses demand, R&D project successes, existing and new engineering services and conversion to volume production OEM programs, future revenue and operating results, and 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 Company's Annual Reports and other filings with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sec.gov or www.sedar.com). 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.
Investor Relations Contact
Ed McGregor, Director of Investor Relations
Vuzix Corporation
ed_mcgregor@vuzix.com
Tel: (585) 359-5985
Vuzix Corporation, 25 Hendrix Road, West Henrietta, NY 14586 USA,
Investor Information – IR@vuzix.com www.vuzix.com
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SOURCE Vuzix Corporation