Vuzix® Corporation, a leading supplier of AI-powered smart glasses, waveguides and Augmented Reality (AR) technologies, today reported its second quarter results for the three months ended June 30, 2026.

"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:

Second Quarter 2026 Financial Results
For the three months ended June 30, 2026, total revenues decreased by 14% to $1.1 million versus $1.3 million for the comparable period in 2025. Product sales were $0.9 million versus $1.0 million, a decrease of 15%. Engineering services and OEM product sales were $0.2 million versus $0.3 million, a decrease of 8%.

There was an overall gross loss of $0.6 million for the three months ended June 30, 2026 as compared to a gross loss of $0.8 million for the comparable 2025 period, a 15% overall improvement.

Research and Development expense was $3.1 million for the three months ended June 30, 2026 versus $2.6 million for the comparable 2025 period, an increase of 20%. This increase was largely due to increased external development costs for new products and higher cash salary and benefits related expenses due to headcount increases.

Selling and Marketing expense was $1.2 million for the three months ended June 30, 2026 versus $1.4 million for the comparable 2025 period, a decrease of 11%. The decrease was largely due to a decrease in non-cash stock-based compensation expense.

General and Administrative expense for the three months ended June 30, 2026 was $2.7 million versus $2.8 million for the comparable 2025 period, a decrease of 3%.

For the second quarter ended June 30, 2026, the net loss attributable to common shareholders was $7.7 million or $0.09 per share as compared to a loss of $7.7 million or $0.10 per share for the second quarter of 2025.

Net cash used in operating activities was $6.6 million for the second quarter of 2026 versus $4.8 million for the comparable 2025 period. As of June 30, 2026, the Company had $17.3 million in cash and no current or long-term debt obligations.

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. 

TrendForce 2025 Near-Eye Display Market Trend and Technology Analysis
Publication Date : 29 August 2025
Language : Traditional Chinese / English
Format : PDF
Page Number: 168