Vuzix Corporation
- Open
- 2.81
- Day high
- 2.91
- Day low
- 2.81
- Prev close
- 2.90
- Volume
- 240K
- Mkt cap
- $237M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 7.0
- P/S
- 39.0
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$197K over the last 3 months (0 open-market buys, 2 sales)
- 🏛Institutions mixed (13F)
Vuzix Corporation (VUZI) is a Technology company listed on NASDAQ. The stock is up 7% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 2 sales (SEC Form 4).
Vuzix Corporation (VUZI) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
VUZI earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 14, 2026 | $-0.10 | $-0.09 | +10.0% | $1M | +3.3% |
| Mar 12, 2026 | $-0.09 | $-0.12 | -33.3% | $2M | +17.1% |
| Nov 13, 2025 | $-0.10 | $-0.09 | +10.0% | $1M | -39.4% |
| Aug 14, 2025 | $-0.12 | $-0.10 | +16.7% | $1M | -41.1% |
| Mar 13, 2025 | $-0.12 | $-0.16 | -33.3% | $1M | -16.6% |
| Nov 14, 2024 | $-0.12 | $-0.14 | -16.7% | $1M | -9.1% |
| Aug 14, 2024 | $-0.10 | $-0.62 | -520.0% | $1M | -57.2% |
| Apr 15, 2024 | $-0.14 | $-0.32 | -128.6% | $2M | -17.2% |
| Nov 9, 2023 | $-0.14 | $-0.17 | -21.4% | $2M | -35.9% |
| Mar 1, 2023 | $-0.15 | $-0.17 | -13.3% | $3M | -21.8% |
| Nov 9, 2022 | $-0.16 | $-0.15 | +6.3% | $3M | +2.3% |
| Mar 1, 2022 | $-0.12 | $-0.27 | -125.0% | $3M | -16.6% |
VUZI insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 27, 2026 | Whitten-Doolin Paula Beckdirector | Sell | 32,000 | $4.68 |
| May 21, 2026 | Harned Timothy Heydenreichdirector | Sell | 10,000 | $4.73 |
| Apr 30, 2026 | Travers Paul Jdirector, officer: President and CEO | Grant | 477,178 | — |
| Apr 30, 2026 | Russell Grantdirector, officer: CFO | Grant | 193,258 | — |
| Mar 4, 2026 | Parkinson Christopher Iainofficer: See remarks | Sell | 11,663 | $2.69 |
| Dec 23, 2025 | Parkinson Christopher Iainofficer: See Remarks | Sell | 9,457 | $2.92 |
| Sep 30, 2025 | Parkinson Christopher Iainofficer: See Remarks | Grant | 150,000 | — |
| Sep 30, 2025 | Parkinson Christopher Iainofficer: See Remarks | Grant | 1,000,000 | — |
| Sep 25, 2025 | MacKinnon Alasdair Johndirector | Grant | 65,295 | — |
| Sep 23, 2025 | Quanta Computer Inc.10 percent owner | Buy | 230,242 | $2.17 |
| Jul 3, 2025 | Whitten-Doolin Paula Beckdirector | Grant | 31,746 | — |
| Jul 3, 2025 | Harned Timothy Heydenreichdirector | Grant | 31,746 | — |
| Jul 3, 2025 | Kay Edward William Jr.director | Grant | 31,746 | — |
| Jun 17, 2025 | Quanta Computer Inc.10 percent owner | Buy | 189,717 | $2.63 |
| Jan 6, 2025 | Jameson Peter Hamiltonofficer: Chief Operating Officer | Grant | 111,642 | — |
Source: VUZI SEC Form 4 filings, latest May 27, 2026. For informational purposes only — not investment advice.
See the full VUZI insider & 13F page →Vuzix Corporation company profile
Overview
Vuzix Corporation (NASDAQ:VUZI) is a pioneering technology company founded in 1997 and headquartered in West Henrietta, New York. Originally incorporated as Icuiti Corporation, the company rebranded to Vuzix in 2007 and went public in 2010. Vuzix has established itself as a leading developer and manufacturer of augmented reality (AR) wearable display and computing devices, serving both consumer and enterprise markets globally across North America, Asia-Pacific, Europe, and other international regions.
Business
Vuzix operates in the augmented reality (AR) smart glasses industry, which sits at the intersection of wearable technology, computer vision, and enterprise software solutions. Augmented reality refers to technology that overlays digital information onto the real world, allowing users to see computer-generated images, text, and data superimposed on their physical environment through specialized display devices. The company's core business revolves around two primary segments: 1. Smart Glasses Hardware Manufacturing (~85% of revenue): Vuzix designs and manufactures various AR smart glasses models including the M300XL, M400, M4000 series for enterprise applications, and the Z100 and Vuzix Blade for broader commercial use. These devices function as wearable computers that display information directly in the user's field of vision while maintaining transparency to see the real world. The smart glasses are equipped with cameras, sensors, processors, and wireless connectivity to enable hands-free computing, data capture, and communication. Recent product launches include the UltraLight Pro and UltraLight Audio platforms, designed to be lightweight and fashionable for consumer adoption. 2. Engineering Services and Waveguide Technology (~15% of revenue): The company provides custom engineering solutions and manufactures waveguide optics - the critical optical components that enable AR displays to project images while maintaining see-through capability. Waveguides are thin, transparent optical elements that guide light from micro-displays to the user's eyes. Vuzix has developed proprietary manufacturing processes that allow them to produce waveguides at scale and lower cost compared to competitors, positioning them as an Original Equipment Manufacturer (OEM) supplier to other technology companies. The company also offers software solutions through its Moviynt platform, which provides workflow management and data analytics capabilities specifically designed for enterprise users of AR devices in warehousing, logistics, and industrial applications.
Revenue model
Vuzix generates revenue through multiple business models, though the company is currently transitioning its strategic focus from direct enterprise sales to OEM partnerships and licensing arrangements. Product Sales Revenue represents the traditional model where Vuzix sells complete smart glasses systems directly to enterprise customers, resellers, and through online channels. Customers include logistics companies, healthcare organizations, manufacturing facilities, and defense contractors who purchase devices ranging from $499 (Z100 model) to several thousand dollars for specialized industrial units. However, this segment has experienced significant decline, with product sales decreasing 58% year-over-year in 2024 to approximately $4.4 million. Engineering Services Revenue involves custom development work and OEM manufacturing partnerships, generating approximately $1.3 million annually. This includes designing specialized AR solutions for partners and producing waveguide components for other manufacturers. The company is particularly focused on expanding this segment through its strategic partnership with Quanta Computer, targeting production of over 1 million waveguides annually. Licensing and Royalty Potential represents an emerging revenue stream as Vuzix leverages its patent portfolio of over 425 patents to license waveguide and AR technologies to other manufacturers. Several factors significantly impact Vuzix's margins and profitability. Positive margin drivers include the shift toward higher-margin OEM waveguide sales, economies of scale in manufacturing (the company can produce waveguides every six seconds compared to competitors' much slower processes), and reduced operational expenses following aggressive cost-cutting measures. Negative margin pressures stem from intense competition in the AR space from tech giants like Apple and Meta, the early-stage nature of the AR market leading to uncertain demand patterns, high R&D costs required to maintain technological leadership, and inventory write-downs from unsold products (the company took significant provisions against $5 million in M400 inventory). The company's breakeven target requires approximately $16-20 million in annual margin contribution, significantly above current revenue levels, indicating substantial operational leverage potential as the AR market matures.
Competitive moat
Vuzix's competitive moat is moderately strong but narrow, primarily built around its proprietary waveguide manufacturing capabilities and patent portfolio, though it faces significant competitive threats from well-funded technology giants. The company's strongest competitive advantage lies in its waveguide manufacturing expertise. Vuzix has developed unique production processes that enable them to manufacture waveguides at high volume and low cost - producing one waveguide every six seconds compared to competitors who typically produce only dozens per manufacturing run using expensive semiconductor processes. This manufacturing efficiency provides substantial cost advantages and scalability that would be difficult for new entrants to replicate quickly. Patent protection provides another defensive layer, with over 425 patents and pending applications covering various aspects of AR display technology, waveguide design, and optical systems. This intellectual property portfolio creates barriers for competitors and potential licensing revenue opportunities. However, Vuzix's moat faces significant challenges. The company operates in an industry attracting massive investments from technology giants like Apple, Meta, Google, and Microsoft, who possess vastly superior financial resources and can potentially develop competing technologies or acquire smaller players. The AR smart glasses market remains in its early stages, and consumer adoption has been slower than anticipated, creating uncertainty about which technological approaches will ultimately prevail. Additionally, while Vuzix has manufacturing advantages today, technological disruption risks are high in the rapidly evolving AR space. New display technologies, alternative optical solutions, or breakthrough innovations from well-funded competitors could potentially obsolete Vuzix's current advantages. The company's relatively small size and limited financial resources compared to Big Tech competitors also constrains its ability to invest in R&D at the pace necessary to maintain technological leadership long-term. The moat is best characterized as a specialized manufacturing and IP advantage in a niche but rapidly evolving market, providing near-term competitive protection but facing substantial long-term disruption risks from larger, better-funded competitors.
Risks & safety
Vuzix presents a moderate margin of safety from a balance sheet perspective but significant operational risk due to substantial cash burn and uncertain revenue trajectory. Liquidity and Solvency: - Strong cash position: $15.2 million in cash and short-term investments as of Q1 2025 - Excellent current ratio of 7.7x and quick ratio of 6.2x indicating strong short-term liquidity - Minimal debt with debt-to-equity ratio of just 0.01 - However, significant cash burn of $4.2 million in free cash flow during Q1 2025 alone Operational Cash Burn Risk: - Quarterly operating cash flow negative $3.5 million in Q1 2025 - At current burn rate, existing cash provides approximately 3-4 quarters of runway - Company targeting $16-20 million annual revenue for breakeven vs. current $6.3 million run rate - Potential Quanta Computer investment tranches of up to $20 million provide additional funding backstop Valuation Metrics: - Trading at 4.7x book value, indicating premium valuation relative to tangible assets - Negative earnings make P/E ratios meaningless - Enterprise value represents negative 4.3x EBITDA due to cash position exceeding market cap - Graham net-net ratio of 0.20 suggests stock trades below liquidation value Other Considerations: - $4.2 million in finished goods inventory with $5 million in provisions taken - Going concern qualification in audited financials due to operating losses - Revenue concentration risk with limited customer diversification
Recent development
Over the past few years, Vuzix has undergone a significant strategic transformation, pivoting from primarily selling complete smart glasses systems to enterprise customers toward becoming an OEM supplier and waveguide technology licensor. The most significant development was the strategic partnership with Quanta Computer announced in 2024, involving a $20 million investment with the first $10 million tranche already received. This partnership positions Vuzix to potentially supply over 1 million waveguides annually to one of the world's largest electronics manufacturers, representing a dramatic scale increase from current production levels. Product innovation has accelerated with the introduction of the UltraLight Pro and UltraLight Audio smart glasses platforms at CES 2025, designed to be lightweight and consumer-friendly. The company also reduced pricing on its Z100 model to $499 to accelerate market adoption and completed development of INCOGNITO waveguide technology that eliminates the visible "eye glow" effect that has hindered consumer acceptance of AR glasses. Manufacturing and R&D expansion included acquiring a state-of-the-art waveguide research and development facility in Milpitas, California, and developing partnerships with Fraunhofer IPMS for high-performance CMOS micro-LED backplane technology. The company has also expanded its patent portfolio to over 425 patents, strengthening its intellectual property position. Software and AI integration has become increasingly important, with partnerships like AugmentOS to develop AI-powered applications and continued development of the Moviynt software platform for enterprise workflow management. Several successful enterprise deployments have demonstrated significant productivity improvements, including partnerships with companies like Nadro and Airbus Helicopters. Market diversification efforts have expanded beyond traditional enterprise customers into defense applications through partnerships with Thales and other defense contractors, targeting higher-value systems priced between $4,000-$7,000 per unit.
VUZI company profile · for informational purposes only — not investment advice.
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