Vuzix Q2 revenue up 56% on record smart glass sales; loss per share $0.14

Vuzix Corp

2023-Q2 EPS reported -$0.31 revenue$8,882,196

Total revenue $4.7M, up 56% YoY and 12% QoQ; product sales of $4.4M led by M400 smart glasses.
Gross profit $1.0M (21% margin) vs $0.3M (9%) YoY, driven by higher product sales and overhead absorption.
Net loss $9.0M ($0.14/sh) vs $10.0M ($0.16/sh) in Q2 2022.
Cash $48.6M, working capital $61.5M, no long-term debt.
Management expects record FY2023 revenues; new waveguide plant on track for H2 2023.

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 June 30, 2023 results: revenue $4.7 million, net income $9.0 million, EPS $0.14 cents per share.

Period: the three months ended June 30, 2023
Revenue: $4.7 million
Net income: $9.0 million
EPS: $0.14 cents per share
Result: reported results

Exact text from the filing

(9,045 ) (10,022 ) Loss per Common Share $ (0.14 ) $ (0.16 ) Second Quarter 2023 Financial Results For the three months ended June 30, 2023 total revenues increased by 56% to $4.7 million versus $3.0 million for the comparable period in 2022. The increase in total revenues was primarily due to higher product sales and specifically, significantly higher unit sales

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Source: SEC EDGAR

accession 0001104659-23-089719

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