Vuzix Reports Third Quarter 2026 Results

Rhea-AI Summary

Vuzix (NASDAQ: VUZI) reported third-quarter 2026 revenue of $714,000, down 38% from the comparable period in 2025, alongside wider losses. Net loss widened to $8.386 million, or $0.10 per share, from $7.354 million, or $0.09 per share. Gross loss widened to $868,000 from $411,000. Operating cash use rose to $6.7 million from $5.0 million; cash was $9.2 million at September 30, with no debt.

Vuzix received just under $1.0 million in new defense orders to date in Q4. Causeway optical interconnect evaluation samples shipped, a co-development letter of intent was entered into, and engagements exceeded 10 companies. Rochester manufacturing upgrades became operational. Approximately $1.0 million of Q3 Causeway consulting costs are not expected to recur; Vuzix expects Q4 operating expenses in the mid-$6 million range. Its automotive customer reached production-validation systems and procurement contract negotiations.

12 points · 0 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 12 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointGlobal automotive OEM customer progressed to production-validation systems and procurement contract negotiations.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Vuzix expects Q4 operating expenses in the mid-$6 million range.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Approximately $1.0 million of Q3 Causeway consulting costs are not expected to recur.
• Minor pointNew OEM defense orders totaled just under $1.0 million to date in Q4.
• Minor pointCauseway shipped evaluation samples and engaged more than 10 companies within 90 days of launch announcement.

7 minor points

• Minor pointRochester waveguide facility upgrades and high-index material processing are operational.
• Minor pointFunctional single-plate color waveguides were delivered for customer evaluation.
• Minor pointGeneral and administrative expense declined to $2.488 million from $2.575 million in Q3 2025.
• Minor pointDepreciation and amortization declined to $163,000 from $424,000 in Q3 2025.
• Minor pointVuzix had no current or long-term debt obligations at September 30, 2026.
• Minor point. Forward-looking: it has not happened yet and may not happen.Causeway priorities include integrated-link performance testing and converting engagements into customer-funded development programs.
• Minor point. Forward-looking: it has not happened yet and may not happen.Vuzix expects continued Causeway advancement without a significant increase in development spending.

Negative

• Moderate pointQ3 2026 revenue fell 38% to $714,000 from $1.161 million in Q3 2025.
• Moderate pointNet loss widened to $8.386 million, or $0.10 per share, versus $7.354 million, or $0.09.
• Moderate pointOperating cash use increased to $6.7 million from $5.0 million in Q3 2025.
• Moderate pointCauseway co-development remains at the letter-of-intent stage.
• Moderate pointAdditional expected defense opportunities remain in the award contracting process.

7 minor points

• Minor pointProduct sales fell to $494,000 from $896,000 in Q3 2025.
• Minor pointEngineering services sales declined to $220,000 from $265,000 in Q3 2025.
• Minor pointGross loss widened to $868,000 from $411,000 in Q3 2025.
• Minor pointResearch and development expense rose to $3.318 million from $2.936 million in Q3 2025.
• Minor pointSelling and marketing expense rose to $1.641 million from $1.147 million in Q3 2025.
• Minor pointOperating loss widened to $8.477 million from $7.494 million in Q3 2025.
• Minor pointTotal other income declined to $91,000 from $140,000 in Q3 2025.

News Explained

For Causeway, converting technical engagements into customer-funded development programs remains a next step; Vuzix expects to advance the platform without a significant increase in development spending.

Argus 15 min delay 25 alerts

-4.88% vs previous close $1.75 last price 1.3x rel. volume Open Argus

Details

Market Reaction – VUZI

+5.1% Peak Tracked

-9.1% Trough Tracked

$1.57 – $2.05 Day Range

$147.74M Mkt Cap at Last Price

On Nov 12, the day this news came out, the latest delayed price for VUZI is 4.88% below the previous close. Argus tracked a peak move of +5.1% during the session. Argus tracked a trough of -9.1% from its starting point during tracking. Our momentum scanner has recorded 25 alerts for this stock so far that day. The latest delayed price is $1.75.

Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.

Key Figures

Total revenue: $0.7 million vs. $1.2 million, down 38% Gross loss: $0.9 million vs. $0.4 million Net loss: $8.4 million vs. $7.4 million +5 more

Total revenue

$0.7 million vs. $1.2 million, down 38%

Third quarter 2026 vs. third quarter 2025

Gross loss

$0.9 million vs. $0.4 million

Three months ended September 30, 2026 vs. 2025

Net loss

$8.4 million vs. $7.4 million

Third quarter 2026 vs. third quarter 2025

Loss per share

$0.10 vs. $0.09

Third quarter 2026 vs. third quarter 2025

Cash used in operating activities

$6.7 million vs. $5.0 million

Third quarter 2026 vs. third quarter 2025

Cash and debt

$9.2 million in cash; no current or long-term debt obligations

As of September 30, 2026

Expected fourth-quarter operating expenses

Mid-$6 million range

Company expectation for fourth quarter 2026

New OEM defense orders

Just under $1.0 million

Orders received to date in Q4

Previous Earnings Reports

2 past events · Latest: Aug 13

Same Type 2 events

1. Aug 13

   Q2 earnings

   24h Move

   +17.4%

   Revenue declined and operating cash use increased, while gross loss improved and net loss was roughly unchanged.

2. Nov 13

   Q3 earnings

   24h Move

   -7.8%

   Revenue declined year over year, alongside a reported net loss and updates on financing and customer orders.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

waveguide, co-packaged optics, optical interconnect, oem

4 terms

waveguide technical

"Rochester waveguide facility upgrades operational"

A waveguide is a physical channel—like a hollow tube or a thin strip of material—that directs electromagnetic energy such as microwaves, radio waves or light from one point to another with minimal loss. For investors, waveguides matter because their design and quality directly affect the speed, efficiency, size and cost of products in telecom, radar, sensors and medical imaging; improvements can make devices faster, smaller or cheaper, boosting a supplier’s competitiveness.

co-packaged optics technical

"The opportunity emerging around optical interconnects and co-packaged optics"

Co-packaged optics are optical components—lasers and fiber interfaces—physically packaged together with a network switch’s main processing chip so light-based data links sit much closer to the chip instead of traveling over long electrical traces. For investors, this matters because it can dramatically cut power use, boost data speed and density, and lower system costs in large data centers and telecom equipment, much like moving a power outlet next to a heavy appliance to avoid long, inefficient extension cords.

optical interconnect technical

"Vuzix Causeway Optical Interconnect platform"

Optical interconnect is a way of linking electronic components using pulses of light instead of traditional electrical wires, like swapping copper cables for fiber-optic highways inside and between devices. It matters to investors because light-based connections can carry much more data, use less power and generate less heat than electrical links, which can lower operating costs and enable faster, more scalable products for data centers, telecom and high-performance computing markets.

oem technical

"Sales of Engineering Services and OEM product sales"

OEM stands for Original Equipment Manufacturer, which is a company that produces parts or components used in the final products made by other companies. For investors, understanding OEMs is important because their performance can impact the supply chain and overall success of major industries, especially those relying on specialized parts. Think of OEMs as the suppliers that provide the building blocks for larger products, like the engine parts for a car.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

• Vuzix Causeway optical interconnect platform: evaluation samples shipped, co-development letter of intent entered into and ongoing engagement with more than 10 companies across the AI optical interconnect ecosystem within 90 days of launch announcement
• Defense: just under $1.0 million in new OEM defense orders received to date in Q4; SHRIKE Defense Display Platform now shipping for customer evaluation
• Manufacturing: Rochester waveguide facility upgrades operational, high-index material processing operational and functional single-plate color waveguides delivered for customer evaluation

ROCHESTER, N.Y., Nov. 12, 2026 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI) ("Vuzix" or the "Company"), a supplier of AI-powered smart glasses, waveguides for smart glasses and co-packaged optical data center interconnects, and related augmented reality technologies, today reported its financial results for the third quarter ended September 30, 2026.

"During the third quarter, Vuzix continued to advance its transition towards a more OEM-focused business built around advanced waveguide technologies, optical engineering and its U.S.-based manufacturing capabilities," said Paul Travers, President and CEO of Vuzix. "While sales of our established enterprise smart glasses products declined year-over-year, reflecting models we discontinued at the end of 2025, we are seeing new tangible progress in defense and other customer-directed opportunities. Our defense business is becoming an increasingly important part of this strategy, supported by just under $1.0 million in recently secured new orders, additional expected defense opportunities are now progressing through the award contracting process, and ongoing production and next-generation development work with Collins Aerospace. The recent launch of our SHRIKE Defense Display Platform and our expanded domestic manufacturing capabilities further position us to address specialized defense and security requirements."

The following table compares condensed elements of the Company's unaudited summarized Consolidated Statements of Operations data for the three months ended September 30, 2026 and 2025, respectively:

			For Three Months Ended September 30
			($000s, except per share amounts)
			2026		2025
Sales:
Sales of Products			$   494		$   896
Sales of Engineering Services			220		265
Total Sales			714		1,161
Total Cost of Sales			1,582		1,572
Gross Loss			(868)		(411)
Operating Expenses:
Research and Development			3,318		2,936
Selling and Marketing			1,641		1,147
General and Administrative			2,488		2,575
Depreciation and Amortization			163		424
Loss from Operations			(8,477)		(7,494)
Total Other Income			91		140
Net Loss			(8,386)		(7,354)
Loss per Common Share			$  (0.10)		$  (0.09)

Third Quarter 2026 Financial Results

For the three months ended September 30, 2026, total revenues decreased by 38% to $0.7 million versus $1.2 million for the comparable period in 2025. Product sales were $0.5 million versus $0.9 million, a decrease of 45%. Engineering services and OEM product sales were $0.2 million versus $0.3 million, a decrease of 17%.

There was an overall gross loss of $0.9 million for the three months ended September 30, 2026 as compared to a gross loss of $0.4 million for the comparable 2025 period.

Research and Development expense was $3.3 million for the three months ended September 30, 2026 versus $2.9 million for the comparable 2025 period, an increase of 13%. This increase was largely due to increased external consulting expenses related to the Company's new waveguide-based optical interconnect components being developed for CPO solutions.

Selling and Marketing expense was $1.6 million for the three months ended September 30, 2026 versus $1.1 million for the comparable 2025 period, an increase of 43%. This increase was largely due to increased external consulting expenses related to the Company's new waveguide-based optical interconnect components being developed for CPO solutions.

General and Administrative expense for the three months ended September 30, 2026 was $2.5 million versus $2.6 million for the comparable 2025 period, a decrease of 3%.

For the third quarter ended September 30, 2026, the net loss attributable to common shareholders was $8.4 million or $0.10 per share as compared to a loss of $7.4 million or $0.09 per share for the third quarter of 2025.

Net cash used in operating activities was $6.7 million for the third quarter of 2026 versus $5.0 million for the comparable 2025 period. As of September 30, 2026, the Company had $9.2 million in cash and no current or long-term debt obligations.

Total operating expenses for the third quarter of 2026 were $7.6 million and included approximately $1.0 million of external consulting costs related to the Vuzix Causeway platform, which the Company does not expect to recur. Excluding these costs, operating expenses were approximately $6.6 million, approximately 7% below the third quarter of 2025, and the Company expects fourth-quarter operating expenses to be in the mid-$6 million range.

Management Outlook

"We are encouraged by the increasing breadth and pace of progress across our growth initiatives," continued Mr. Travers. "In defense and security markets, we are executing upon awarded work and advancing additional opportunities involving advanced research, specialized optical systems and initial production programs. We have also begun shipping our first SHRIKE display platform units for customer evaluation and integration into their offerings."

"On the OEM front, customers are approaching Vuzix with more defined applications, specific technical requirements and clearer commercial milestones. Our global automotive OEM customer has progressed to production-validation systems and procurement contract negotiations, while other customers continue to evaluate our various Ultralite OEM platform offerings. These developments reflect a meaningful shift toward customer-driven programs with more clearly defined paths to commercialization."

"The Vuzix Causeway Optical Interconnect platform has evolved rapidly in the last 90 days, progressing from its introduction to physical evaluation samples to active engagements with more than 10 companies across the AI optical interconnect ecosystem. This momentum underscores the potential of our waveguide technology to now address emerging optical connectivity requirements in AI data centers. Our next priorities are characterizing integrated-link performance and converting these technical engagements into customer-funded development programs, establishing a potential pathway toward future production opportunities."

"We believe the opportunity emerging around optical interconnects and co-packaged optics warrants continued strategic investment as we advance Causeway from initial evaluations toward integrated system demonstrations. The third quarter included approximately $1.0 million of external market assessment and consulting costs that we do not expect to recur, and we expect to continue advancing Causeway without a significant increase in development spending. By leveraging our existing waveguide expertise, intellectual property and manufacturing infrastructure, we believe we can make meaningful technical and commercial progress while maintaining a disciplined approach to capital allocation."

"We have completed the installation and upgrades to our Rochester waveguide manufacturing facility, including improvements to processing, handling and production flow, while advancing high-index material processing and functional single-plate color waveguides toward customer qualification," concluded Mr. Travers. "These capabilities, together with our established optical technologies and intellectual property, provide a common foundation for pursuing significant opportunities across defense, OEM smart glasses and AI optical interconnects. We believe the progress we are making today is laying the foundation for stronger financial performance and long-term shareholder value."

Conference Call Information

Date: Thursday, November 12, 2026
Time: 4:30 p.m. Eastern Time (ET)
Dial-in Number for U.S. & Canadian Callers: 877-709-8150
Dial-in Number for International Callers (Outside of the U.S. & Canada): 201-689-8354

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=o9t06kZp

Participating on the call will be Paul Travers, President and Chief Executive Officer, and Grant Russell, Chief Financial Officer, who will discuss operational and financial highlights for the quarter ended September 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 November 12, 2026, at approximately 5:30 p.m. (ET). To access this replay, please dial 877-660-6853 within the U.S. or Canada, or 201-612-7415 for international callers. The conference replay ID# is 13763592.

About Vuzix Corporation

Vuzix is a leading designer, manufacturer and marketer of AI-enabled Smart Glasses for enterprises as well as waveguides and advanced optical components for OEM and ODMs for their products in the defense, security, medical and AI glasses markets along with optical interconnect components for AI computing applications. Founded in 1997, Vuzix holds more than 500 patents and patents pending, along with numerous IP licenses covering optics, head-mounted displays and augmented reality wearables, and has received more than 20 Consumer Electronics Show awards for innovation. The Company is publicly traded on Nasdaq under the symbol VUZI and maintains operations in Rochester, New York, and 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 Private 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, improvements in the Company's waveguides and their manufacturing capacity for both AI glasses and optical interconnect applications, existing and new defense engineering services programs and their eventual conversion to volume production OEM programs, defense orders and contract awards, the development of and customer engagements for the Vuzix Causeway platform, expected operating expenses and capital spending, 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.sedarplus.ca 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.

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.comwww.vuzix.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/vuzix-reports-third-quarter-2026-results-302938388.html

SOURCE Vuzix Corporation

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Vuzix's third-quarter 2026 revenue and earnings results?

Vuzix reported $714,000 in revenue and a net loss of $8.386 million, or $0.10 per share, for the quarter ended September 30, 2026. Revenue declined 38% from Q3 2025, when net loss was $7.354 million, or $0.09 per share.

What operating expenses does Vuzix expect for the fourth quarter of 2026?

Vuzix expects fourth-quarter operating expenses in the mid-$6 million range. Third-quarter operating expenses were $7.6 million, including approximately $1.0 million of Causeway-related external consulting costs the company does not expect to recur.

Why did Vuzix's established enterprise smart glasses sales decline in Q3 2026?

Vuzix attributed the year-over-year decline in established enterprise smart glasses sales to models discontinued at the end of 2025.

What defense development work is Vuzix pursuing beyond its new Q4 orders?

Vuzix has ongoing production and next-generation development work with Collins Aerospace. Its first SHRIKE Defense Display Platform units have also begun shipping for customer evaluation and integration into customer offerings.