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 March 31, 2023 results: revenue $4.2 million, net income net loss of $10.2 million, EPS ($0.16) per share.
- Period
- the three months ended March 31, 2023
- Revenue
- $4.2 million
- Net income
- net loss of $10.2 million
- EPS
- ($0.16) per share
- Result
- reported results
Exact text from the filing
For the three months ended March 31, 2023, total revenues increased by 67% to $4.2 million versus $2.5 million for the comparable period in 2022. The increase in total revenues was due to higher product sales and specifically significantly higher unit sales of M400 smart glasses. No engineering services revenues were booked in the current or prior period. There was an overall gross profit of $0.9 million or 21% of revenues for the three months ended March 31, 2023 as compared to $0.5 million or 19% for the same period in 2022. This improvement was due to significantly higher product sales. Research and Development expense was essentially flat at $3.1 million for the three months ended March 31, 2023 as compared to the prior year period. Selling and Marketing expense was $2.5 million for the three months ended March 31, 2023, versus $2.0 million for the comparable 2022 period, an increase of approximately 26%. This increase was primarily due to higher salary and benefits expenses associ
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