• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Sunday, July 20, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

Vuzix Reports reported its Third Quarter results

by Ayush Bansal
November 9, 2021 - Updated On December 15, 2021
in Business, Markets
Reading Time: 3 mins read
0
Vuzix’s microLED smart glasses look very futuristic
TwitterWhatsappLinkedin

On 8 November, Vuzix Inc. reported its financial results for the July-September quarter. For this, three months ended period revenue grow by around 9 per cent from last prior quarter which was over $2 million and now soars up to $3 million.

You might also like

Jio Financial Services and Allianz Group Ink 50:50 Reinsurance Joint Venture Deal

Microsoft Layoffs Stir Debate Over AI’s Real-World Impact

Viceroy Report Raises Concerns Over Vedanta Semiconductor Unit’s Dealings

The increase was entirely due to higher sales of Vuzix smart glasses products, which rose $0.3 million or 12% over the comparable period in 2020. The smart glass sales surged by 50% year-to-date.

Therefore, the gross margin increased by more than 50 per cent from 12.5% to 19.3% for this corresponding quarter 2020-2021. The gross profit increased by 68 per cent from $0.35 million to $.58 million for the three months ended September 30, 2021.

The expenses in Research and development are increased from $1.8 million to over $3 million for the quarter ended on September 30, 2021. The increment of about 70 per cent. The increase in Research and Development was surging in external development expenses related to Smart Glasses. Also for salary, benefits, and non-cash stock-based compensation.

The expenses in Selling and Marketing increased by over 70% to $1.5 million from the last prior quarter which approx $935 thousand. This rise was largely driven by due to the salary, benefits, and compensations.

Expenses in general and administrative work are increased by around 90 per cent from last quarter, which was $1.6 million to this corresponding quarter of 2021, which is $3 million.

The net loss attributable to common stockholders is more than $7 million compared to last prior quarter which was $5.3 million.

This is clearly shown in earning per share also which is 13 cents per share.

The net cash operating loss after adding back non-cash items for the third quarter of 2021 was $5.8 million as compared to a loss of $3.0 million for the third quarter of 2020. As of September 30, 2021, the Company maintained cash and cash equivalents of $128.7 million and an overall working capital position of $140.3 million.

About the company

Vuzix is an American Leading supplier of Smart-Glasses and Augmented Reality (AR) technologies and products. Vuzix manufacturers and sells computer display devices and software. It was founded by Paul Travers in 1997. Their headquarters are located in Rochester, New York.

Vuzix Eyewear
Image: Amazon.com

The company has its offices in New York, Japan, and the UK.  Vuzix holds 233 patents and patents pending and numerous IP licenses in the Video Eyewear field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2021 and several wireless technology innovation awards among others.

Vuzix is a public company and listed on NASDAQ (NASDAQ: VUZI).

 

Financials

 

For 3 Months Ended September 30
(thousand’s except per share amounts)
2021 2020
Sales:
Sales of Products $  3,019 $  2,686
Sales of Engineering Services – 93
Total Sales 3,019 2,779
Total Cost of Sales 2,435 2,431
Gross Profit 583 348
Gross Profit % 19% 13%
Operating Expenses:
Research and Development 3,270 1,874
Selling and Marketing 1,590 936
General and Administrative 3,112 1,635
Depreciation and Amortization 434 635
Loss on Fixed Assets and Other Asset
     Impairment 8 16
Total Operating Expenses 8,414 5,096
Loss from Operations (7,830) (4,748)
Net Loss (7,946) (4,761)
Loss per Common Share $  (0.13) $    (0.13)

Third Quarter 2021 Financial Results

Tags: ARearning callVirtualVR
Tweet54SendShare15
Previous Post

Roblox reported doubled revenue in third quarter

Next Post

Virgin Galactic Announces Third Quarter 2021 Financial Results

Ayush Bansal

Recommended For You

Jio Financial Services and Allianz Group Ink 50:50 Reinsurance Joint Venture Deal

by Anochie Esther
July 20, 2025
0
JFSL

In a landmark move poised to reshape India's insurance landscape, Jio Financial Services Ltd (JFSL) and Germany-based Allianz Group have entered into a binding agreement to form a...

Read more

Microsoft Layoffs Stir Debate Over AI’s Real-World Impact

by Anochie Esther
July 20, 2025
0
Microsoft

A recent Reddit post has sparked a wave of concern and discussion across the tech industry, revealing a Microsoft software engineer was abruptly laid off via a “cold...

Read more

Viceroy Report Raises Concerns Over Vedanta Semiconductor Unit’s Dealings

by Rounak Majumdar
July 19, 2025
0
Viceroy Report Raises Concerns Over Vedanta Semiconductor Unit’s Dealings

A new report by US-based short seller Viceroy Research has brought the spotlight back onto Vedanta Limited’s semiconductor ambitions, raising serious questions about the business practices of its...

Read more
Next Post
Virgin Galactic

Virgin Galactic Announces Third Quarter 2021 Financial Results

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple Artificial Intelligence bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?