Vuzix Q3 revenue up 14% to $3.4M; net loss narrows to $9.5M

Vuzix Corp

2022-Q3 EPS reported -$0.47 revenue$8,937,633

Total revenue $3.4M (+14% YoY); product sales $2.5M, engineering services $0.9M.
Gross profit $0.9M (25% margin) improved from $0.4M (13%) in Q3 2021.
Net loss $9.5M ($0.15/sh) vs $10.5M ($0.17/sh) a year ago; cash $90.4M, working capital $100.8M.
Completed acquisition of Moviynt after quarter close to expand software solutions.
Management expects sequential growth in smart glasses sales in Q4 2022.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Vuzix Corp reported the three months ended September 30, 2022 results: revenue $3.4 million, net income $9.5 million, EPS ($0.15).

Period: the three months ended September 30, 2022
Revenue: $3.4 million
Net income: $9.5 million
EPS: ($0.15)
Result: reported results

Exact text from the filing

) (10,488 ) Loss per Common Share $ (0.15 ) $ (0.17 ) Third Quarter 2022 Financial Results For the three months ended September 30, 2022, total revenues increased by 14% to $3.4 million versus $3.0 million for the comparable period in 2021. Driving the increase in total revenues were engineering services revenues related to our waveguides and display engine

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Source: SEC EDGAR

accession 0001104659-22-118415

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