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Vuzix Reports 2025 Financial Results and Positions Waveguide and OEM Businesses for Next Phase of Smart Glasses Growth

VUZI
  • Vuzix Corporation reported fourth quarter and full year 2025 financial results on March 12, 2026, showing total revenues of $6.3 million for the year, a 9% increase from $5.8 million in 2024.
  • Product sales reached $4.7 million in 2025, up 4% from 2024, driven by increased unit sales of M400 smart glasses, while engineering services revenue grew to $1.6 million from $1.3 million.
  • The company secured full funding for Quanta Computer's $20 million equity investment after meeting specific yield and production run-rate targets.
  • Total operating expenses decreased significantly, with Research and Development rising 31% to $12.6 million, while Selling and Marketing fell 33% to $5.5 million \& General and Administrative dropped 32% to $11.6 million.
  • Net loss for the full year 2025 was $32.3 million ($0.42 per share), a substantial improvement from the $73.5 million loss ($1.08 per share) in 2024.
  • Gross loss narrowed to $1.1 million in 2025 from $5.6 million in 2024, aided by a reduction in inventory obsolescence provisions from $4.2 million to $0.5 million.
  • Net cash used in operating activities was $18.8 million in 2025, down from $23.7 million in the prior year, while cash and cash equivalents totaled $21.2 million as of December 31, 2025.
  • Management outlook for 2026 emphasizes growth in OEM custom smart glasses programs, defense \& government initiatives, \& waveguide-related activities leveraging made in the USA manufacturing.
  • A conference call to discuss results is scheduled for March 12, 2026, at 4:30 p.m. ET featuring CEO Paul Travers \& CFO Grant Russell.