Vuzix Q3 revenue falls 36% to $1.4M; net loss narrows to $9.2M

Vuzix Corp

2024-Q3 EPS reported -$0.90 revenue$4,482,153

Total revenues $1.4M vs $2.2M YoY; product sales down 28%, engineering services down 51%.
Net loss $9.2M ($0.14/share) vs $11.0M ($0.17/share) YoY; gross loss widened to $0.26M.
Cash operating expenses (non-GAAP) reduced 28% YoY to $4.7M; cash and equivalents $14.3M.
Quanta Computer delivered first $10M tranche of $20M equity investment for AI smart glasses.
Company advancing waveguide manufacturing and defense collaboration with Thales.

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