Latest news with #M400
Miami Herald
3 days ago
- Automotive
- Miami Herald
Get Ready to Drool: Our Favorite 5 Supercars from the Exclusive Super Sunday
If you're an automotive enthusiast in the Sacramento area, you've likely heard about Super Sunday. This yearly private event hosted by the 9sixteenexotics group is exclusive to media and supercar owners, and yours truly happened to qualify. To say that Super Sunday brings out the best rides around would be an understatement, so I'm instead going to show you five of what I consider to be the finest examples at this year's showing from a field of over 150 cars, in no particular order. Buckle up and hold your jaw, trust me on this one. You might be familiar with the Noble M400 thanks to video games like Forza Horizon 5, but seeing one in person is the kind of event you won't soon forget. English automaker Noble only made 75 examples of the M400 from 2006 to 2007, making it as rare as it is damn sexy. Using Ford's 3.0 L DOHC Duratec V6 engine with special forged pistons, an oil cooler, a larger baffled oil sump, and extra cooling ducts, the M400 makes 425 hp with a top speed of 187 mph. The interior is as barebones as you can get, but hey, it still has AC, so your top speed runs can be done in style AND comfort. One of our local collectors, Bob (@1slocrx), blessed us with the presence of his Pagani Zonda F. Named after famed Formula One driver Juan Manuel Fangio, the Zonda F featured an even more powerful 7.3 L Mercedes-AMG M297 V12 engine which, thanks to enhanced intake manifolds, a new exhaust, and a revised ECU, made 594 hp and 561 lb⋅ft of torque through a stronger transmission and differential. Only 25 of these full carbon fiber beauties were ever produced, giving the already impressive Zonda an extra layer of *pizzazz*. Imagine if a classic air-cooled Porsche 911 were brought into the 21st century and carried a $2 million price tag: that's the Singer 911 DLS or "Dynamics and Lightweighting Study." Apart from a gorgeous brown leather and carbon fiber interior, this modern reimagining is finished in a stunning shade of green with a menacing widebody stance, revised lights and turn signals, and a 4.0L flat-six engine that revs to 9,000 rpm. Word around down is that with options and all, this particular example, owned by local collector Jeff Miller (@fjmiller), cost somewhere around $3 million. This thing is so glorious, it might get its own article in the near future! This is the first time I've seen a 12Cilindri in person outside of Monterey Car Week, and I was equally as stunned. Ferrari's latest 12-cylinder marvel sports 819 hp and 500 lb-ft of torque to go along with its svelte, low-slung silhouette. The long nose houses semi-disguised headlights within a black accent stripe, while the short rear deck showcases slim taillights and a rear window that extends into a similar black accent bar. The Maranello-based automaker is still knocking it out of the park with its new models, and we couldn't be more over the moon. The second iteration of the first-generation Dodge Viper, otherwise known as the Viper GTS, is probably the one you grew up with in Need for Speed. Its screaming 8-liter Viper V10 made 450 hp in GTS guise, complete with airbags for the first time in the model's history. This particular silver example was outstandingly clean and a welcome breath of fresh air among the modern supercars surrounding it. The Viper will forever keep its place as one of the most outrageous and outstanding American supercars, and if Dodge ever decides to revive it, the automotive world would likely implode. Huge shout-out to Brian and the rest of the team at 9sixteenexotics for putting on such an astounding showing every year. If you're involved in the automotive scene in any way, I encourage you to seek out these kinds of private shows in your area. You never know the marvels you'll see! Copyright 2025 The Arena Group, Inc. All Rights Reserved.
Yahoo
12-05-2025
- Business
- Yahoo
Vuzix Reports First Quarter 2025 Results
ROCHESTER, N.Y., May 12, 2025 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI) ("Vuzix" or the "Company"), a leading supplier of smart glasses, waveguides, and Augmented Reality (AR) technologies, today reported its first quarter results for the three months ended March 31, 2025. "2025 has thus far been marked by important developments for Vuzix that span commercial and technology relationships, expansion of customer deployments, and enhancements enabling product execution," said Paul Travers, President and CEO of Vuzix. "Vuzix is entering a phase of increasing commercial momentum, as our long-standing business model vision and investments are translating into design wins and tangible near-term commercial traction. At the same time, the broader tech industry is amplifying its focus on AI-powered smart glasses, signaling that the ultimate race to bring these products to scale is getting closer, if not already underway, as evidenced by increasing inbound activity." "And while the adoption of smart glasses in the entire market has been slower than anticipated by all market participants, Vuzix' outlook remains very positive. Our Q1 enterprise sales improved sequentially (Q1/25 vs Q4/24), driven by both new deployments and growing follow-on orders, and as we have previously shared, we have several strategic programs moving steadily toward large-scale rollout," continued Mr. Travers. "With a growing base of ODM/OEM opportunities, new strategic partnerships, and rising interest for AI-enhanced wearable solutions, we believe the market is gaining momentum and Vuzix is well-positioned to capitalize as AI and AR technologies converge and reshape the way we work, communicate, and interact with digital information." The following table compares condensed elements of the Company's unaudited summarized Consolidated Statements of Operations data for the three months ended March 31, 2025 and 2024, respectively: For Three Months Ended March 31 ($000s except per share amounts) 20252024 Sales: Sales of Products$1,324$1,829 Sales of Engineering Services257175 Total Sales1,5812,004Total Cost of Sales1,8462,057Gross Loss(265)(53)Operating Expenses: Research and Development2,6062,738 Selling and Marketing1,5372,221 General and Administrative3,9614,098 Depreciation and Amortization405970 Loss on Fixed Asset Disposal-11Loss from Operations(8,774)(10,092)Total Other Income (Expense)13745 Net Loss $ (8,638) (10,048)Loss per Common Share$ (0.11)$ (0.16) First Quarter 2025 Financial Results For the three months ended March 31, 2025, total revenues decreased by 21% to $1.6 million versus $2.0 million for the comparable period in 2024. The decrease in total revenues was due to lower product sales and specifically reduced unit sales of M400 smart glasses. Engineering services revenues were $0.3 million for the three months ended March 31, 2025 as compared to $0.2 million in the prior year's quarter. There was an overall gross loss of $0.3 million for the three months ended March 31, 2025 as compared to a gross loss of $0.1 million for the same period in 2024. The increased gross loss was due to the planned reductions of further product manufacturing builds of our existing smart glasses models as compared to 2024, that resulted in the expensing of the Company's relatively fixed manufacturing overhead costs that were not counter-balanced by requisite revenue levels. Research and Development expense was $2.6 million for the three months ended March 31, 2025, versus $2.7 million for the comparable 2024 period, a decrease of approximately 5%. This decrease was primarily due to reduced salary and benefits expenses, partially offset by increased external development costs on new products. Selling and Marketing expense was $1.5 million for the three months ended March 31, 2025, versus $2.2 million for the comparable 2024 period, a decrease of approximately 31%. This decrease was primarily due to reduced salary and benefits expenses and lower advertising and tradeshow expenses. General and Administrative expense for the three months ended March 31, 2025 was $4.0 million versus $4.1 million for the comparable 2024 period, a decrease of approximately 3%. This decrease was largely due to reduced overall compensation expenses. The net loss decreased for the three months ended March 31, 2025 to $8.6 million, or $0.11 cents per share versus a net loss of $10.0 million, or $0.16 for the comparable period in 2024. The cash net flows used in operating activities was $3.5M for the first quarter of 2025 versus $8.8M for the comparable 2024 period. Management Outlook "We ended March 2025 with working capital of $19.5 million and are confident that we have the capital resources to execute upon our current operating plan," said Mr. Travers. "Our focus over the remainder of 2025 is to continue to secure design wins into new ODM/OEM products, for both consumer and enterprise applications. These should ideally develop into long-term recurring revenues where Vuzix will supply optical waveguides and display engines or create co-branded AI smart glasses products. In the defense space, we aim to grow our business with existing and new prime defense contractors, leading to new custom design-ins and an acceleration of scaled production orders." "We are also experiencing growing enterprise customer successes, supported by substantial customer use data sets demonstrating productivity improvements, utilizing applications from leading enterprise ISVs as well as Vuzix subsidiary, Moviynt®, that significantly surpass targeted customer benchmarks. We remain confident that anticipated follow-on orders for smart glasses this year have the potential to reduce our existing smart glasses inventory and convert those finished goods into cash, facilitating a smooth introduction of our next-generation, purpose-built products, the development of which are well underway. Lastly, we remain very pleased with our burgeoning commercial relationships with Quanta and other key ODMs/OEMs and their forward commitments to us with both capital as well as commercial collaborations," concluded Mr. Travers. Conference Call Information Date: Monday, May 12, 2025Time: 4:30 p.m. Eastern Time (ET)Dial-in Number for U.S. & Canadian Callers: 877-709-8150Dial-in Number for International Callers (Outside of the U.S. & Canada): 201-689-8354 A live and archived webcast of the conference call will be available on the investor relations page of the Company's website at: or directly at Participating on the call will be Vuzix' Chief Executive Officer and President Paul Travers and Chief Financial Officer Grant Russell, who together will discuss operational and financial highlights for the quarter ended March 31, 2025. To join the live conference call, please dial into the above referenced telephone numbers five to ten minutes prior to the scheduled conference call time. A telephonic replay will be available for 30 days, starting on May 12, 2025, at approximately 5:30 p.m. (ET). To access this replay, please dial 877-660-6853 within the U.S. or Canada, or 201-612-7415 for international callers. The conference replay ID# is 13753516. About Vuzix Corporation Vuzix is a leading designer, manufacturer and marketer of AI-powered Smart Glasses, Waveguides and Augmented Reality (AR) technologies, components and products for the enterprise, medical, defense and consumer markets. The Company's products include head-mounted smart personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality, as well OEM waveguide optical components and display engines. Vuzix holds more than 425 patents and patents pending and numerous IP licenses in the fields of optics, head-mounted displays, and the augmented reality wearables field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2024 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in: Rochester, NY; and Kyoto and Okayama, Japan. For more information, visit the Vuzix website, X and Facebook pages. Forward-Looking Statements Disclaimer Certain statements contained in this news release are "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward-looking statements contained in this release relate to, among other things, the timing of new product releases, smart glass pilot to roll-out conversion rates, opportunities related to market disruptions regarding smart glasses demand, R&D project successes, smart glasses pilot to roll-out conversion rates, existing and new engineering services and conversion to volume production OEM programs, future revenue and operating results, and the Company's leadership in the Smart Glasses and AR display industry. They are generally identified by words such as "believes," "may," "expects," "anticipates," "should" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the Company's Annual Reports and other filings with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at or Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law. Investor Relations Contact Ed McGregor, Director of Investor RelationsVuzix Corporationed_mcgregor@ Tel: (585) 359-5985 Vuzix Corporation, 25 Hendrix Road, West Henrietta, NY 14586 USA,Investor Information – IR@ View original content to download multimedia: SOURCE Vuzix Corporation Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-03-2025
- Business
- Yahoo
Vuzix Corp (VUZI) Q4 2024 Earnings Call Highlights: Strategic Partnerships and Cost Management ...
Total Revenue (Q4 2024): $1.3 million, up from $1.1 million in Q4 2023. Total Revenue (Full Year 2024): $5.8 million, down from $12.1 million in 2023. Gross Loss (Full Year 2024): $5.6 million, compared to a loss of $2.6 million in 2023. Net Loss (Q4 2024): $13.7 million or $0.16 per share, compared to $19.9 million or $0.32 per share in Q4 2023. Net Loss (Full Year 2024): $73.5 million or $1.08 per share, compared to $50.1 million or $0.79 per share in 2023. Cash Position (End of 2024): $18.2 million, a decrease of $8.4 million from the end of 2023. Net Cash Flows Used in Operating Activities (2024): $23.7 million, compared to $26.3 million in 2023. R&D Expenses (Full Year 2024): $9.6 million, down 22% from $12.3 million in 2023. Sales and Marketing Expenses (Full Year 2024): $8.2 million, down from $12.7 million in 2023. General and Administrative Expenses (Full Year 2024): $17.2 million, down 7% from $18.6 million in 2023. Cash Used in Investing Activities (2024): $2.9 million, down from $19.3 million in 2023. Financing Activities (2024): Raised $18.3 million, including a $10 million investment by Quanta Computer. Warning! GuruFocus has detected 4 Warning Signs with VUZI. Release Date: March 13, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Vuzix Corp (NASDAQ:VUZI) has established a strategic partnership with Quanta Computer, which includes a $20 million multiphase investment, enhancing their credibility and market reach. The introduction of the Ultralite Pro AR smart glasses platform has received positive feedback and was awarded Best in Show by Wareable at CES 2025. Vuzix Corp (NASDAQ:VUZI) has reduced its research and development expenses by 22% and sales and marketing costs by 36% in 2024, reflecting effective cost management. The company anticipates significant growth in customer wins across OEM and enterprise businesses in 2025, driven by increased demand for their smart glasses. Vuzix Corp (NASDAQ:VUZI) has a strong financial foundation with $18 million in cash and cash equivalents as of year-end 2024, providing flexibility to support growth initiatives. Vuzix Corp (NASDAQ:VUZI) reported a decrease in total revenues for the full year 2024, from $12.1 million in 2023 to $5.8 million, indicating a significant decline in sales. The company experienced an overall gross loss of $5.6 million for 2024, primarily due to inventory obsolescence reserves and increased manufacturing overhead costs. Product sales decreased by 58% year over year, largely due to a decline in unit sales of the M400 product compared to the previous year. Vuzix Corp (NASDAQ:VUZI) faces competitive threats from larger players entering the AR smart glasses market, which could impact their market share. The net loss for the full year 2024 was $73.5 million, an increase from the $50.1 million net loss in 2023, partly due to the write-off of a technology license and investment. Q: Can you clarify the inventory status of the M400 smart glasses and your plans for selling them in 2025? A: Paul Travers, CEO, stated that there is approximately $9 million worth of M400 inventory. Grant Russell, CFO, added that this inventory could generate $9 to $10 million plus any margin. They are not investing further in the M400 until the existing stock is moved, but there is potential for increased demand from companies moving past proof of concept to larger orders. Q: When do you expect the ramp-up of millions of units with Quanta to start, and what is the expected average selling price (ASP)? A: Paul Travers, CEO, mentioned that production programs should start before the end of the year, with significant activity expected in the fall and winter. The ASP for waveguides in high volumes could be significantly lower than competitors, potentially under $50 per unit. Q: What production capacity do you expect to achieve by the end of 2025, and how will this support your goal of supplying millions of units to OEMs? A: Paul Travers, CEO, explained that the Quanta investment is focused on achieving high-volume capacity. They are close to meeting milestones for additional funding, which will support production of over 1 million units annually. The goal is to eventually reach smartwatch-like volumes, with potential for much higher production in the future. Q: How do you plan to allocate the $10 million received from Quanta and the additional $10 million expected in 2025? A: Paul Travers, CEO, stated that the funds will be used for R&D, production, and market expansion, aligning with Vuzix's strategic goals. The investment supports next-generation product development and increased production capacity. Q: How does Vuzix assess the competitive threat from larger players entering the AR smart glasses market, and what differentiates Vuzix's offerings? A: Paul Travers, CEO, acknowledged the presence of competitors but emphasized Vuzix's competitive advantages, including price, performance, and experience. Vuzix's partnerships and proprietary technologies position them well in the market, and they welcome competition as it validates the industry. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
