MIAMI, Nov. 13, 2025 /PRNewswire/ -- Innovative Eyewear Inc., (NASDAQ:LUCY, LUCYW)), the developer of smart eyewear under the Lucyd®, Nautica®, Eddie Bauer®, and Reebok® brands, today announced its unaudited financial results for the three and nine months ended September 30, 2025.
Net revenue for the quarter ended September 30, 2025 was $668,128, an increase of 163% from the quarter ended September 30, 2024. On a year-to-date basis, net revenue for the nine months ended September 30, 2025 was $1,701,859, an increase of 80% from the comparable period in 2024. For both the quarter and year-to-date periods, this top-line revenue growth was primarily driven by volume increases from sales of the Company's highly successful Lucyd Armor® smart safety glasses (launched in October 2024), which represented approximately half of the Company's total smartglass units sold in both the current quarter and year-to-date periods. The cobranded Reebok® Powered by Lucyd collection, which launched in April 2025, also contributed to the year-over-year volume increases.
Gross profit margin for the third quarter of 2025 was 37%, compared to 23% for the same period in the prior year. Gross profit margin for the nine months ended September 30, 2025 was 27%, compared to 13% for the same period in the prior year. These significant increases were primarily attributable to lower product sourcing costs for both frames and prescription lenses as the Company continues to scale and develop its business. Management anticipates further cost improvements in future quarters as the Company continues to grow its volume and realize greater economies of scale. Although higher custom duties, tariffs and importation costs weighed heavily on gross profit margins in the second quarter, and therefore had a significant negative impact on the Company's current year-to-date margins, the various actions taken by management to help mitigate the impact of tariffs have been largely successful thus far, and restored third quarter 2025 gross profit margins to a level mostly consistent with the Company's pre-tariff business plan. Management continues to monitor trade policy and build contingency sourcing options in ...
