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

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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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