Vuzix reports FY2024 revenue $5.8M (down 53% YoY); net loss $73.5M ($1.08/share)

Vuzix Corp

Q4 2024 revenue $1.3M, net loss $13.7M ($0.16 loss per share) vs Q4 2023 $1.1M, loss $19.9M ($0.32).
Full-year revenue fell 53% to $5.8M from $12.1M; gross loss widened to $5.6M from $2.6M.
Cash operating expenses reduced ~$8M (25%) vs 2023; cash and equivalents $18.2M at year-end.
Recorded $30.3M impairment on intangible asset and equity investment during 2024.
Expects design wins for ODM/OEM products and defense contracts in 2025; plans to deplete smart glasses inventory.

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