Logo

VUZI

Vuzix Corporation

VUZI

Vuzix Corporation • NASDAQ
$2.69 ▲ 12.82% (+0.30)
Market Cap $203.68 M
52w High $5.79
52w Low $1.47
Dividend Yield 0%
P/E -5.48
Volume 4.28M
Outstanding Shares 75.86M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.161M ▼ $7.083M ▼ $-7.354M ▲ -633.468% ▼ $-0.09 ▲ $-6.421M ▲
Q2-2025 $1.296M ▼ $7.094M ▼ $-7.666M ▲ -591.665% ▼ $-0.1 ▲ $-7.037M ▲
Q1-2025 $1.581M ▲ $8.686M ▼ $-8.638M ▲ -546.36% ▲ $-0.11 ▲ $-8.202M ▲
Q4-2024 $1.272M ▼ $9.085M ▲ $-13.656M ▼ -1.073K% ▼ $-0.16 ▼ $-13.088M ▼
Q3-2024 $1.386M $9.039M $-9.222M -665.525% $-0.14 $-8.52M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $22.609M ▲ $42.473M ▲ $4.588M ▲ $37.885M ▲
Q2-2025 $17.455M ▲ $36.902M ▲ $3.038M ▲ $33.864M ▲
Q1-2025 $15.231M ▼ $35.762M ▼ $2.916M ▲ $32.847M ▼
Q4-2024 $18.187M ▲ $39.405M ▼ $2.112M ▼ $37.293M ▼
Q3-2024 $14.272M $41.847M $2.294M $39.552M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-7.354M ▲ $-4.993M ▼ $-458.493K ▲ $10.605M ▲ $5.154M ▲ $-5.452M ▲
Q2-2025 $-7.666M ▲ $-4.788M ▼ $-867.809K ▼ $7.88M ▲ $2.224M ▲ $-5.656M ▼
Q1-2025 $-8.638M ▲ $-3.454M ▲ $-764.132K ▼ $1.262M ▼ $-2.956M ▼ $-4.168M ▲
Q4-2024 $-13.656M ▼ $-4.022M ▲ $-353.22K ▼ $8.29M ▼ $3.915M ▼ $-4.375M ▲
Q3-2024 $-9.222M $-5.277M $-332.688K $10M $4.39M $-5.61M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Engineering Services
Engineering Services
 $0 ▲$0 ▲$0 ▲$0 ▲
Sales of Products
Sales of Products
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has remained very small and roughly flat over the past several years, while expenses have stayed much higher than sales. As a result, the company has reported recurring operating losses and net losses every year, with losses widening recently rather than narrowing. Gross profitability is fragile, at times dipping negative, which suggests hardware costs and overhead are not yet covered by current volumes or pricing. Overall, the income statement reflects an early‑stage, innovation‑heavy business that has yet to achieve scale or consistent margin improvement.

Balance Sheet

Balance Sheet The balance sheet is clean but getting lighter. Total assets and shareholders’ equity have trended down from earlier peaks, mainly as cash has been used to fund ongoing losses. On the positive side, the company carries no financial debt, which reduces pressure from interest payments and lenders. However, the shrinking asset base and cash balance mean financial flexibility is more limited than a few years ago, and future growth or sustained R&D may require either improved cash generation or fresh capital over time.

Cash Flow

Cash Flow Operating cash flow has been consistently negative, meaning the core business consumes cash rather than generating it. Free cash flow is also negative, reflecting both operating losses and periodic investment in equipment and development capabilities. While the level of cash burn is not extreme by venture standards, it has been steady year after year, gradually drawing down the cash cushion built up previously. This pattern underscores the importance of either growing revenue meaningfully, managing costs more tightly, securing high‑margin OEM deals, or accessing new funding sources in the future.

Competitive Edge

Competitive Edge Vuzix occupies a specialized niche in augmented reality and smart glasses, with a clear emphasis on enterprise and industrial use rather than mass‑market consumer devices. Its strengths lie in proprietary waveguide optics, in‑house display expertise, and a sizable patent portfolio, all of which create some barriers to entry and differentiation versus generic hardware players. Partnerships with manufacturers and software firms broaden its reach and help embed its technology into real workflows. The challenges are substantial: the company is small relative to tech giants investing heavily in AR, the market is still developing and somewhat unpredictable, and converting promising pilots and partnerships into large, recurring revenue streams remains an execution risk.

Innovation and R&D

Innovation and R&D Innovation is the core of Vuzix’s story. The company has invested heavily in waveguide optics, micro‑display engines, and next‑generation technologies such as microLED and LED‑on‑Silicon, building a large patent base and specialized know‑how. It is pushing into AI‑enhanced smart glasses, OEM and ODM platforms, and ultra‑thin, more stylish designs, all aimed at making AR more practical and attractive for everyday enterprise use. These efforts help strengthen its technological edge but also contribute to ongoing losses, and there is uncertainty around how quickly and how profitably these R&D bets will translate into stable, high‑margin revenue.

Summary

Vuzix is a technology‑driven AR and smart‑glasses company with strong engineering credentials and a meaningful intellectual property moat, especially around waveguide optics. Financially, it remains in an early‑stage profile: small and flat revenue, recurring operating losses, and steady cash burn, though without the burden of financial debt. The balance sheet still shows positive equity but a reduced cash and asset base compared with a few years ago. The strategic opportunity is clear—supplying advanced AR hardware and platforms to enterprises and OEM partners—but the path to scale, consistent profitability, and self‑funded growth is still unproven and depends on successful commercialization of its innovations in a competitive and evolving market.

NEWS

November 28, 2025 · 8:08 AM UTC

Vuzix' 4Q25 Shipments of AI-Powered Smart Glasses to Leading Global Online Retailer Approach $1 Million

Read more

November 25, 2025 · 9:05 AM UTC

The AR Alliance Welcomes Vuzix as a New Member

Read more

November 13, 2025 · 4:01 PM UTC

Vuzix Reports Third Quarter 2025 Results

Read more

November 12, 2025 · 12:30 PM UTC

Vuzix to Participate in the 16th Annual Craig-Hallum Alpha Select Conference on November 18th 2025

Read more

October 30, 2025 · 9:00 AM UTC

Vuzix Schedules Conference Call to Discuss Third Quarter 2025 Financial Results and Business Update

Read more