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Vuzix Corporation designs, manufactures, and markets artificial intelligence (AI)-powered smart glasses, waveguides, and augmented reality (AR) technologies in North America, Europe, the Asia Pacific, and internationally. The company offers smart glasses that include M Series, Vuzix Blade, Vuzix Shield, and Vuzix Ultralite Z100; Mobilium logistics mobility software solution; waveguide optics; and display engines. It provides engineering services and original design manufacturers (ODM)/original equipment manufacturers (OEM) component solutions. It also offers head-mounted smart display and wearable computing devices. The company sells its products through direct sales, value-added resellers, distributors, ODM and OEM partnerships, and online stores, as well as various Vuzix operated web stores in the United States, Europe, and Japan. It serves the enterprise, medical, defense, security, and consumer markets. The company was formerly known as Icuiti Corporation and changed its name to Vuzix Corporation in September 2007. Vuzix Corporation was incorporated in 1997 and is headquartered in West Henrietta, New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $6M | $-29M | $-32M | $-21M | -93.1% | 9.1% | - |
| 2024 | $6M | $-40M | $-74M | $-27M | -197.2% | -52.6% | - |
| 2023 | $12M | $-45M | $-50M | $-43M | -62.1% | 2.5% | - |
| 2022 | $12M | $-40M | $-41M | $-43M | -35.3% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 11.84 | 12.13 | 5.75 | 6.28 |
| Cost Of Revenue | 10.35 | 14.76 | 11.35 | 7.34 |
| Gross Profit | 1.48 | -2.63 | -5.60 | -1.06 |
| Operating Expense | 43.80 | 47.72 | 37.98 | 31.32 |
| Operating Income | -42.31 | -50.35 | -43.58 | -32.38 |
| EBITDA | -39.72 | -45.42 | -39.65 | -29.23 |
| EBIT | -42.31 | -50.35 | -43.58 | -32.38 |
| Pretax Income | -40.76 | -50.15 | -73.54 | -32.27 |
| Tax Provision | 0 | 0 | 0 | 0 |
| Net Income | -40.76 | -50.15 | -73.54 | -32.27 |
| Net Income Common Stockholders | -40.76 | -50.15 | -73.54 | -32.34 |
| Total Expenses | 54.15 | 62.48 | 49.34 | 38.66 |
| Research And Development | 12.68 | 12.34 | 9.63 | 12.63 |
| Selling General And Administration | 29.12 | 31.30 | 25.42 | 17.11 |
| Normalized EBITDA | -40.81 | -45.42 | -9.70 | -29.33 |
| Normalized Income | -41.85 | -50.15 | -43.58 | -32.38 |
| Basic EPS | -0.64 | -0.79 | -1.08 | -0.42 |
| Diluted EPS | -0.64 | -0.79 | -1.08 | -0.42 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0 | 0 | 0 | 0 |
| Total Unusual Items | 1.08 | 0 | -29.96 | 0.10 |
| Total Unusual Items Excluding Goodwill | 1.08 | 0 | -29.96 | 0.10 |
| Net Income From Continuing Operation Net Minority Interest | -40.76 | -50.15 | -73.54 | -32.27 |
| Reconciled Depreciation | 2.59 | 4.93 | 3.93 | 3.15 |
| Reconciled Cost Of Revenue | 9.55 | 13.68 | 10.42 | 5.80 |
| Net Income From Continuing And Discontinued Operation | -40.76 | -50.15 | -73.54 | -32.27 |
| Total Operating Income As Reported | -42.23 | -52.30 | -73.97 | -32.51 |
| Diluted Average Shares | 63.69 | 63.43 | 68.09 | 77.60 |
| Basic Average Shares | 63.69 | 63.43 | 68.09 | 77.60 |
| Diluted NI Availto Com Stockholders | -40.76 | -50.15 | -73.54 | -32.34 |
| Preferred Stock Dividends | 0 | 0 | 0 | 0.06 |
| Net Income Including Noncontrolling Interests | -40.76 | -50.15 | -73.54 | -32.27 |
| Net Income Continuous Operations | -40.76 | -50.15 | -73.54 | -32.27 |
| Other Income Expense | 1.55 | 0.20 | -29.96 | 0.10 |
| Other Non Operating Income Expenses | 0.47 | 0.21 | 0 | 0 |
| Special Income Charges | -0.13 | -2.18 | -30.33 | -0.51 |
| Gain On Sale Of Ppe | -0.04 | 0 | -0.03 | -0.11 |
| Write Off | 0 | 0 | 0 | 0.40 |
| Impairment Of Capital Assets | 0.10 | 2.18 | 30.30 | 0 |
| Gain On Sale Of Security | 1.21 | 2.18 | 0.37 | 0.61 |
| Other Taxes | 0.21 | 0.23 | -0.06 | -0.02 |
| Depreciation Amortization Depletion Income Statement | 1.79 | 3.84 | 2.99 | 1.60 |
| Depreciation And Amortization In Income Statement | 1.79 | 3.84 | 2.99 | 1.60 |
| Selling And Marketing Expense | 8.08 | 12.71 | 8.19 | 5.48 |
| General And Administrative Expense | 21.04 | 18.59 | 17.23 | 11.63 |
| Other Gand A | 21.04 | 18.59 | 17.23 | 11.63 |
| Operating Revenue | 11.84 | 12.13 | 5.75 | 6.28 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Vuzix Corporationthis co. | VUZI | $198M | - | 7.83 | -93.1% | -6.39 |
| Nerdy Inc. | NRDY | $218M | - | 5.75 | -138.0% | -1.79 |
| Kaltura, Inc. | KLTR | $211M | - | 33.02 | -190.7% | 236.12 |
| MicroVision, Inc. | MVIS | $208M | - | 3.52 | -171.0% | -2.34 |
| eGain Corporation | EGAN | $201M | 5.79 | 2.27 |
| 40.0% |
| 14.32 |
| Richardson Electronics, Ltd. | RELL | $200M | 50.93 | 1.25 | -0.7% | 29.40 |
| Immersion Corporation | IMMR | $194M | 10.12 | 0.63 | 11.5% | 6.19 |
| Information Services Group, Inc. | III | $193M | 21.26 | 2.04 | 9.9% | 10.50 |
| Unisys Corporation | UIS | $189M | - | -0.66 | 126.6% | 5.11 |
| Peer Median | - | 15.69 | 2.15 | 4.6% | 8.34 | |