Vuzix Q4 revenue falls 13% YoY; full-year net loss widens to $40.8M

Vuzix Corp

Full-year 2022 total revenues $11.8M, down 10% YoY; net loss $40.8M ($0.64/share) vs $40.4M ($0.66) in 2021.
Q4 2022 revenues $2.9M, down 13% YoY; gross loss of $0.1M vs gross loss of $0.01M in Q4 2021.
Cash and equivalents $73M; working capital $76M as of Dec 31, 2022.
Management expects record 2023 revenues; Q1 shipments and orders pacing to outpace each 2022 quarter.
OEM business group revenue grew 250% YoY; acquired Moviynt SaaS provider in 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 0.95

Vuzix Corp reported the three months ended December 31, 2022 results: revenue $2.9 million.

Period: the three months ended December 31, 2022
Revenue: $2.9 million
Result: reported results

Exact text from the filing

For the three months ended December 31, 2022, total revenues were $2.9 million, a 13% decrease over the prior year's period.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Vuzix Corp reported the year ended December 31, 2022 results: revenue $11.8 million, net income $40.8 million, EPS $0.64 cents per share.

Period: the year ended December 31, 2022
Revenue: $11.8 million
Net income: $40.8 million
EPS: $0.64 cents per share
Result: reported results

Exact text from the filing

) $ (40,764 ) $ (40,377 ) Loss per Share $ (0.17 ) $ (0.17 ) $ (0.64 ) $ (0.66 ) Full Year 2022 Financial Results For the full year ended December 31, 2022, total revenues were $11.8 million, a decrease of 10% over the comparable period in 2021. The decrease in revenues for the year was due to lower sales of smart glasses, which resulted from a combination of higher

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Source: SEC EDGAR

accession 0001104659-23-028505

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