"In 2025, we made meaningful progress in strengthening the foundation of Vuzix. We delivered modest revenue growth in products and engineering services, reduced operating cash usage by approximately $5.0 million, and achieved important milestones across our OEM and waveguide initiatives. We believe those actions position the Company for stronger growth and improved operating leverage in 2026." said Paul Travers, President and CEO of Vuzix. "Most notably, we also achieved an important milestone in our partnership with Quanta Computer. By meeting specific yield and production run-rate targets, we secured the full funding of Quanta's contemplated $20 million equity investment and advanced our joint supply and sales relationship."
"Strategically, 2025 also marked an important evolution in how Vuzix is positioning its business. While our branded enterprise smart glasses business continues to provide revenue, customer insight and market credibility, Vuzix is advancing its role as a technology and solutions provider built around OEM smart glasses solutions, waveguides, and display system relationships and our expanding engagement with strategic partners and customers during this past year supports this foundational shift."
The following table compares condensed elements of the Company's summarized Consolidated Statements of Operations data for the fourth quarters and years ended December 31, 2025 and 2024, respectively. Readers should refer to Vuzix' Form 10-K for the year ended December 31, 2025 for additional information as well as disclosure of important risk factors:
Three Months Ended December 31 (unaudited, in 000s)
Twelve Months Ended December 31 (audited, in 000s)
2025
2024
2025
2024
Sales:
Sales of Products
$
1,411
$
1,069
$
4,677
$
4,487
Sales of Engineering Services
832
204
1,604
1,267
Total Sales
2,243
1,272
6,281
5,755
Cost of Products and Eng. Services
1,629
2,058
6,840
7,186
Inventory Obsolescence
238
4,168
503
4,168
Gross Profit (Loss)
375
(4,953)
