Vuzix Q3 revenue up 9% to $3.0M; net loss widens to $7.9M; expects Q4 sequential growth

Vuzix Corp

2022-Q3 EPS reported -$0.48 revenue$9,850,702

Product sales $3.0M (+12% YoY); total revenue $3.0M (+9%).
Gross margin improved to 19% from 13%; R&D and SG&A expenses rose ~70-90% on headcount.
Net loss $7.9M ($0.13/share) vs $4.8M ($0.13) in prior year; cash $128.7M.
Management cites supply chain delays for sales at low end of expectations.
Plans to introduce 4 new smart glasses products in 2022; confident in Q4 sequential growth.

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