Latest news with #PaulTravers
Yahoo
3 days ago
- Business
- Yahoo
Vuzix Reports Second Quarter 2025 Results
ROCHESTER, N.Y., Aug. 14, 2025 /CNW/ -- Vuzix® Corporation (NASDAQ: VUZI) ("Vuzix" or the "Company"), a leading supplier of AI-powered smart glasses, waveguides and Augmented Reality (AR) technologies, today reported its second quarter results for the three months ended June 30, 2025. "During the second quarter of 2025, Vuzix met all the manufacturing and performance gates tied to receipt of the second Quanta tranche and received that $5 million, bringing Quanta's investment thus far to $15 million out of a planned $20 million," said Paul Travers, President and CEO of Vuzix. "Our OEM business reached an important milestone by shipping waveguides in volume to our first tier-1 OEM waveguide customer while continuing to formally engage with multiple new tier-1 OEM waveguide customers spanning enterprise to the broad market." "We also finalized and introduced the LX1 enterprise smart glasses, with initial customer sampling underway with a production rollout scheduled before year end. Offering integrated voice and vision assisted workflows, the LX1 is our first purpose-built smart glasses designed to meet the evolving demand of the warehousing and logistics industry and falls squarely on top of human-in-the-loop (HITL) automation or co-robotics, which is one of the largest and fastest-growing market segments for such augmentation. And finally, during the second quarter, we grew revenue by 19% year-over-year despite implementing continuing cost control measures which resulted in a 26% year-over-year decrease in our cash operating expense," Mr. Travers concluded. The following table compares condensed elements of the Company's unaudited summarized Consolidated Statements of Operations data for the three months ended June 30, 2025 and 2024, respectively:For Three Months Ended June 30($000s except per share amounts)20252024 Sales:Sales of Products $1,045$ 601 Sales of Engineering Services 250491 Total Sales 1,2961,093 Total Cost of Sales 2,0571,426 Gross Profit (Loss) (761)(333) Operating Expenses:Research and Development 2,5712,359 Selling and Marketing 1,3532,238 General and Administrative 2,7574,492 Depreciation and Amortization 4131,188 Impairment of Licenses, Patents &Trademarks -30,120 Loss from Operations (7,855)(40,730) Total Other Income (Expense) 189118 Net Loss (7,666) (40,612) Loss per Common Share $ (0.10)$ (0.62) Second Quarter 2025 Financial Results For the three months ended June 30, 2025, total revenues increased by 19% to $1.3 million versus $1.1 million for the comparable period in 2024. The increase in total revenues was due to higher product sales and specifically increased unit sales of M400 smart glasses as compared to the prior year's period. Engineering services revenues were $0.3 million for the three months ended June 30, 2025 as compared to $0.5 million in the prior year's quarter. There was an overall gross loss of $0.8 million for the three months ended June 30, 2025 as compared to a gross loss of $0.3 million for the same period in 2024. The larger gross loss was the result of further reserves for inventory obsolescence and increased unapplied manufacturing overhead costs. Research and Development expense was $2.6 million for the three months ended June 30, 2025, versus $2.4 million for the comparable 2024 period, an increase of approximately 9%. This increase was largely due to a $0.3 million increase in external development costs for new products. Selling and Marketing expense was $1.4 million for the three months ended June 30, 2025, versus $2.2 million for the comparable 2024 period, a decrease of approximately 40%. This decrease was primarily due to a $0.5 million decline in salary and benefits related expenses driven by headcount decreases and a $0.3 million decrease in bad debt expense. General and Administrative expense for the three months ended June 30, 2025 was $2.8 million versus $4.5 million for the comparable 2024 period, a decrease of approximately 39%. This overall decrease was largely due to a $2.0 million decline in non-cash stock-based compensation expense related to the Company's 2024 cash salary reduction program in exchange for equity, which ended on April 30, 2025. The net loss for the three months ended June 30, 2025 was $7.7 million, or $0.10 per share versus a net loss of $40.6 million, or $0.62 per share for the comparable period in 2024. Net cash flows used in operating activities was $4.7M for the second quarter of 2025 versus $5.6M for the comparable 2024 period. As of June 30, 2025, the Company maintained cash and cash equivalents of $17.5 million and an overall positive working capital position of $20.3 million. Management Outlook "With a growing pipeline of ODM/OEM opportunities, new strategic partnerships, and increasing demand for AI-enhanced wearable solutions, we believe the market is gaining momentum — and that Vuzix is uniquely positioned to capitalize as AI and AR technologies converge to transform how we work, communicate, and interact with digital information," said Mr. Travers. "We ended June 2025 with the capital resources needed to execute upon our current operating plan," continued Mr. Travers. "Having recently met all manufacturing and performance milestones tied to the third Quanta tranche, we anticipate receiving the final $5 million investment as provided for under the stock purchase agreement. Looking ahead, we are confident in securing additional design wins for new ODM/OEM products targeting both consumer and enterprise AI smart glasses markets. We believe these wins can evolve into long-term recurring revenue streams, whether through supplying optical waveguides and display engines or creating co-branded AI smart glasses. In the defense sector, our goal is to expand our work with both existing and new prime contractors, leading to additional custom design-ins and accelerating scaled production orders." "On the enterprise side, we are seeing growing customer engagements and measurable successes, supported by substantial usage data demonstrating significant productivity gains. These results are being driven by leading enterprise ISV applications as well as our own Vuzix Solutions platform, formerly called Moviynt®, which is helping to redefine warehouse and field operations with AR-powered efficiency. We remain confident that anticipated follow-on orders for smart glasses this year will further reduce existing inventory levels and lead to the conversion of finished goods into cash, paving the way for a smooth rollout of our next-generation LX1 product for warehousing and logistics which will begin shipping to end customers and ISVs before the end of the year," concluded Mr. Travers. Conference Call Information Date: Thursday, August 14, 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 June 30, 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 August 14, 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 13755160. 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 450 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, 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, the amount and impact of operating expense cash reductions, 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 View original content to download multimedia: Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Cision Canada
3 days ago
- Business
- Cision Canada
Vuzix Reports Second Quarter 2025 Results
ROCHESTER, N.Y., /CNW/ -- Vuzix® Corporation (NASDAQ: VUZI) ("Vuzix" or the "Company"), a leading supplier of AI-powered smart glasses, waveguides and Augmented Reality (AR) technologies, today reported its second quarter results for the three months ended June 30, 2025. "During the second quarter of 2025, Vuzix met all the manufacturing and performance gates tied to receipt of the second Quanta tranche and received that $5 million, bringing Quanta's investment thus far to $15 million out of a planned $20 million," said Paul Travers, President and CEO of Vuzix. "Our OEM business reached an important milestone by shipping waveguides in volume to our first tier-1 OEM waveguide customer while continuing to formally engage with multiple new tier-1 OEM waveguide customers spanning enterprise to the broad market." "We also finalized and introduced the LX1 enterprise smart glasses, with initial customer sampling underway with a production rollout scheduled before year end. Offering integrated voice and vision assisted workflows, the LX1 is our first purpose-built smart glasses designed to meet the evolving demand of the warehousing and logistics industry and falls squarely on top of human-in-the-loop (HITL) automation or co-robotics, which is one of the largest and fastest-growing market segments for such augmentation. And finally, during the second quarter, we grew revenue by 19% year-over-year despite implementing continuing cost control measures which resulted in a 26% year-over-year decrease in our cash operating expense," Mr. Travers concluded. The following table compares condensed elements of the Company's unaudited summarized Consolidated Statements of Operations data for the three months ended June 30, 2025 and 2024, respectively: For Three Months Ended June 30 ($000s except per share amounts) 2025 2024 Sales: Sales of Products $1,045 $ 601 Sales of Engineering Services 250 491 Total Sales 1,296 1,093 Total Cost of Sales 2,057 1,426 Gross Profit (Loss) (761) (333) Operating Expenses: Research and Development 2,571 2,359 Selling and Marketing 1,353 2,238 General and Administrative 2,757 4,492 Depreciation and Amortization 413 1,188 Impairment of Licenses, Patents &Trademarks - 30,120 Loss from Operations (7,855) (40,730) Total Other Income (Expense) 189 118 Net Loss (7,666) (40,612) Loss per Common Share $ (0.10) $ (0.62) Second Quarter 2025 Financial Results For the three months ended June 30, 2025, total revenues increased by 19% to $1.3 million versus $1.1 million for the comparable period in 2024. The increase in total revenues was due to higher product sales and specifically increased unit sales of M400 smart glasses as compared to the prior year's period. Engineering services revenues were $0.3 million for the three months ended June 30, 2025 as compared to $0.5 million in the prior year's quarter. There was an overall gross loss of $0.8 million for the three months ended June 30, 2025 as compared to a gross loss of $0.3 million for the same period in 2024. The larger gross loss was the result of further reserves for inventory obsolescence and increased unapplied manufacturing overhead costs. Research and Development expense was $2.6 million for the three months ended June 30, 2025, versus $2.4 million for the comparable 2024 period, an increase of approximately 9%. This increase was largely due to a $0.3 million increase in external development costs for new products. Selling and Marketing expense was $1.4 million for the three months ended June 30, 2025, versus $2.2 million for the comparable 2024 period, a decrease of approximately 40%. This decrease was primarily due to a $0.5 million decline in salary and benefits related expenses driven by headcount decreases and a $0.3 million decrease in bad debt expense. General and Administrative expense for the three months ended June 30, 2025 was $2.8 million versus $4.5 million for the comparable 2024 period, a decrease of approximately 39%. This overall decrease was largely due to a $2.0 million decline in non-cash stock-based compensation expense related to the Company's 2024 cash salary reduction program in exchange for equity, which ended on April 30, 2025. The net loss for the three months ended June 30, 2025 was $7.7 million, or $0.10 per share versus a net loss of $40.6 million, or $0.62 per share for the comparable period in 2024. Net cash flows used in operating activities was $4.7M for the second quarter of 2025 versus $5.6M for the comparable 2024 period. As of June 30, 2025, the Company maintained cash and cash equivalents of $17.5 million and an overall positive working capital position of $20.3 million. Management Outlook "With a growing pipeline of ODM/OEM opportunities, new strategic partnerships, and increasing demand for AI-enhanced wearable solutions, we believe the market is gaining momentum — and that Vuzix is uniquely positioned to capitalize as AI and AR technologies converge to transform how we work, communicate, and interact with digital information," said Mr. Travers. "We ended June 2025 with the capital resources needed to execute upon our current operating plan," continued Mr. Travers. "Having recently met all manufacturing and performance milestones tied to the third Quanta tranche, we anticipate receiving the final $5 million investment as provided for under the stock purchase agreement. Looking ahead, we are confident in securing additional design wins for new ODM/OEM products targeting both consumer and enterprise AI smart glasses markets. We believe these wins can evolve into long-term recurring revenue streams, whether through supplying optical waveguides and display engines or creating co-branded AI smart glasses. In the defense sector, our goal is to expand our work with both existing and new prime contractors, leading to additional custom design-ins and accelerating scaled production orders." "On the enterprise side, we are seeing growing customer engagements and measurable successes, supported by substantial usage data demonstrating significant productivity gains. These results are being driven by leading enterprise ISV applications as well as our own Vuzix Solutions platform, formerly called Moviynt®, which is helping to redefine warehouse and field operations with AR-powered efficiency. We remain confident that anticipated follow-on orders for smart glasses this year will further reduce existing inventory levels and lead to the conversion of finished goods into cash, paving the way for a smooth rollout of our next-generation LX1 product for warehousing and logistics which will begin shipping to end customers and ISVs before the end of the year," concluded Mr. Travers. Conference Call Information 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 June 30, 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 August 14, 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 13755160. 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 450 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, 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, the amount and impact of operating expense cash reductions, 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 Relations Vuzix Corporation [email protected] Tel: (585) 359-5985
Yahoo
22-07-2025
- Business
- Yahoo
Vuzix, Ramblr Partner to Bring Advanced AI-Driven Intelligence to Enterprise Smart Glasses
Vuzix Corporation (NASDAQ:VUZI) is one of the best small cap AI stocks to buy according to analysts. As May was coming to an end, Vuzix Corporation and Ramblr, which is a German AI startup that specializes in video intelligence for automating complex real-world tasks, announced a partnership. The collaboration aims to integrate a new level of AI-driven intelligence and interactivity onto Vuzix smart glasses for enterprise users. The partnership enables frontline workers to use AI for real-time and context-based task analysis with an accuracy of 70%. By incorporating customer-specific data, Ramblr's AI platform builds a deep contextual understanding of the environment. This allows it to provide natural language guidance and visuals directly to workers wearing Vuzix smart glasses. A professional engineer working on a smart glasses prototype in a well-lit laboratory. According to the CEO of Vuzix, Paul Travers, deploying Ramblr's AI agents on Vuzix M400 smart glasses will redefine user interaction with technology in both factory and everyday settings. A video demonstrating this functionality, titled 'Ramblr and Vuzix Accelerate AI on Smart Glasses,' was published by Ramblr on May 29 and has 634 views and 16 likes. It has a duration of 1 minute and 31 seconds. Vuzix Corporation (NASDAQ:VUZI) designs, manufactures, and markets AI-powered smart glasses, waveguides, and AR technologies in North America, Europe, the Asia Pacific, and internationally. While we acknowledge the potential of VUZI as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey. 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
30-06-2025
- Business
- Yahoo
TranscribeGlass Places Multiple Follow-on Orders for Vuzix Z100 Smart Glasses
– AI-driven speech to text wearable transcription enhances accessibility for the deaf or hard of hearing, delivering real-time closed captions in nearly any environment ROCHESTER, N.Y., June 30, 2025 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI) ("Vuzix" or the "Company"), a leading supplier of smart glasses, waveguides and augmented reality (AR) technology today announced that TranscribeGlass, a Connecticut-based company specializing in real-time speech-to-text transcription solutions, is continuing to place follow-on orders for Vuzix Z100 smart glasses to support increasing demand for its AI-powered real-time transcription service. TranscribeGlass is built to improve accessibility for individuals who are deaf or hard of hearing by using AI to deliver real-time speech-to-text transcription with latency under 300 milliseconds, ensuring rapid and reliable captioning. The device connects via Bluetooth to a user's existing smartphone or tablet and performs effectively in both quiet and noisy environments. Advanced speaker identification further enhances usability, making it easier to follow conversations in group settings. "These follow-on orders reflect the strong market response we've received since our solution launch," said Madhav Lavakare, Founder and CEO of TranscribeGlass. "TranscribeGlass empowers individuals with hearing impairments by delivering real-time closed captions directly into their field of view, fundamentally improving accessibility and communication. With growing demand for our solution, the Vuzix Z100 enables us to offer a seamless, all-day wearable experience that's accelerating adoption and expanding our impact." "Vuzix Z100 smart glasses offer a perfect foundation for TranscribeGlass's advanced AI transcription technology," said Paul Travers, President and CEO of Vuzix. "By working together, we aim to accelerate the use and development of smart eyewear, further solidifying Vuzix' position at the forefront of AI-driven wearable tech." About Vuzix Corporation Vuzix is a leading designer, manufacturer and marketer of AI driven Smart Glasses 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 Vuzix Smart Glasses, our business relationship. expectations of continuing further product orders, and other future business opportunities with TranscribeGlass and among other things 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 "Risk Factors" section of the Company's Annual Reports and MD&A filed 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. Vuzix Media and Investor Relations Contact: Ed McGregor, Director of Investor Relations,Vuzix 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
Yahoo
24-06-2025
- Business
- Yahoo
Sphere Brings Its AI-Powered Mixed Reality to Vuzix Smart Glasses
ROCHESTER, N.Y., June 24, 2025 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of AI-powered smart glasses, waveguides and Augmented Reality (AR) technologies, today announced that the Company and Sphere Technology Holdings ("Sphere"), a leading spatial intelligence company, have collaborated to make Sphere's platform available on Vuzix M400 and M4000 AR smart glasses. This collaboration brings Sphere's advanced combination of Mixed Reality (MR) and Artificial Intelligence (AI) to digitally connected frontline workers, enabling hands-free workflows, real-time decision-making, and immersive, context-rich experiences. Sphere Technology's mixed-reality (MR) platform is a cutting-edge spatial computing solution designed to merge the digital and physical worlds in real-time. By leveraging advanced capabilities such as spatial mapping, multi-user collaboration, real-world occlusion, voice and gesture recognition, and holographic rendering, Sphere delivers immersive experiences that are intuitive, scalable, and highly interactive. The platform supports both standalone and networked environments, enabling users to engage with virtual content overlaid in real-world settings — all without disrupting natural workflows. Sphere's platform is built for enterprise-scale deployment and supports integration with existing enterprise systems (e.g., PLM, ERP, CAD, and IoT platforms), making it particularly powerful for industry applications that require high levels of precision, collaboration, and context-aware computing. "With Sphere now accessible on Vuzix' rugged, lightweight, hands-free devices, businesses can leverage powerful tools such as Microsoft Teams integration, workflow automation, and content management," said Sven Brunner, Co-founder and CEO of Sphere. "By combining Sphere's AI-driven mixed reality technology with the durability and portability of Vuzix smart glasses, the two companies are addressing critical challenges in industries such as manufacturing, healthcare, automotive, and defense. This collaboration is designed to help businesses improve operational efficiency, reduce downtime, and enhance worker safety, even in the most demanding environments." "Vuzix M-Series smart glasses continue to strengthen their position as a leading solution across multiple enterprise verticals, and the integration of Sphere's platform further enhances their capabilities and value," said Paul Travers, President and CEO of Vuzix. "We look forward to expanding our relationship with them and bringing enterprise users new levels of functionality and productivity improvement." About Sphere Sphere is a leading provider of spatial intelligence solutions, leveraging Mixed Reality (MR) and Artificial Intelligence (AI) to transform how businesses operate. Sphere empowers frontline teams and beyond with faster, more effective ways to collaborate, train employees, and streamline operations, making organizations more efficient and cost-effective. Trusted by industry leaders, Sphere drives innovation and operational excellence across manufacturing, healthcare, automotive, and defense industries. Headquartered in San Jose, California, Sphere helps businesses maximize productivity, enhance performance, and stay ahead of the competition. For more information, visit the Sphere website. 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 Vuzix Smart Glasses, our business relationship and future opportunities with Sphere and its customers, capabilities and features of the Sphere solution and among other things 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 "Risk Factors" section of the Company's Annual Reports and MD&A filed 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. Vuzix Media and Investor Relations Contact: Ed McGregor, Director of Investor Relations,Vuzix 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
