OUR NEW PROFILE IS: (NASDAQ: VUZI)
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3Q2022 REVENUE OF $3.4M ROSE 14% BOTH SEQUENTIALLY AND YOY
VUZIX IS A PIONEER IN WEARABLE COMPUTING, AUGMENTED REALITY, OPTICS AND DISPLAY ENGINES AND HAS BEEN DELIVERING SOLUTIONS TO CUSTOMERS FOR OVER 20 YEARS
VUZI IS SITTING WITH JUST OVER $90 MILLION IN CASH
VUZIX ULTRALITE DEBUTS ON CES 2023, AND WINS AN INNOVATION AWARD FOR ITS NOVEL LIGHTWEIGHT TECHNOLOGY, LONG BATTERY HOURS, AND EXPANSIVE SMARTPHONE ACCESSORY APPLICATIONS
CHECK OUT THE INVESTOR PRESENTATION HERE
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Hello Everyone,
We have certainly started off the new year with a bang. Our last one was a very rare OTC profile. We don’t have a lot of those coming across our desk but this one moved over 15% in 4 sessions from the average trade on Monday.
The Nasdaq profile before that opened at $1.50 and hit $1.94 the very next session.
Today we want you to take a look at a Tech company that already has a massive following and a lot of notoriety in the media.
Pull up Nasdaq: VUZI Immediately.
This is a company that has been on a tare coming off of the CES, the worlds premiere electronics show. They debuted their Ultralite AR Glasses. Their have been a few positive articles from prominent publishers like the Wall Street Journal and Tech Times. These are glasses that have ordinary-looking plastic frames with a tiny projector tucked in one stem and a tiny battery and Bluetooth radio in the other. It also has Vuzix’s waveguides which is a layer in the glasses that bends the projector’s light into your line of sight.
I know I laughed the first time I really heard of a Tesla. The concept of an electric car sounded ridiculous and I didn’t think that anyone would really buy them. I also never thought that re-charging could never be made something that is practical and easy to do. Now if you drive down a California highway it seems like every 7th or 8th car could be a Tesla. They are everywhere.
I really don’t think it would be a far-fetched statement to say that some of the concepts that VUZI have rolled out and AR Glasses could be part of our everyday life in the near future. There is a whole generation getting older that grew up with some of the advanced technology that we use today. They didn’t have to learn it as adults. It was part of their upbringing. This isn’t something that will be unique to AR. I think it will impact all areas of technology.
The company itself has a lot going on. Vuzix is a leading supplier of Smart Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets. They have offices in Rochester, NY, Oxford, UK, and Tokyo, Japan and were founded back in 1997. The Company’s products include personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality. Vuzix holds 274 patents and patents pending and numerous IP licenses in the Video Eyewear field. Moviynt, an SAP Certified ERP SaaS logistics solution provider, is a Vuzix wholly owned subsidiary. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2023 and several wireless technology innovation awards among others.
Their AR wearable display devices are worn like eyeglasses or attach to a head worn mount. These devices typically include a wearable computer, cameras, and sensors that enable the user to view, record and interact with video and digital content, such as computer data, the Internet, enterprise data, social media or entertainment applications. Their wearable display products integrate micro-display technology with our advanced optics to produce compact high-resolution display engines, less than half an inch diagonally, which when viewed through our Smart Glasses and AR products create virtual images that appear comparable in size to that of a computer monitor or a large-screen television. This includes the representative forms such as augmented reality (AR), mixed reality (MR) and virtual reality (VR) and the areas interpolated among them. Extended reality (XR) is a term referring to all real-and-virtual combined environments. Their wearable display products cover the entire spectrum from “the complete real” to “the complete virtual” in the concept of reality–virtuality.
They believe that their waveguide optics and display engines offer a number of significant advantages over other wearable display solutions, including higher contrast, greater power efficiency, less weight, more compact size, and high brightness images for use outdoors. They also believe that our waveguide optics give them a substantial advantage over competitors’ optics, including other waveguides, because their solution allows them to produce optics that are fully transparent when off while also delivering the high brightness required for AR and enterprise Smart Glasses applications.
They believe that key growth areas for us are the enterprise, medical, consumer electronics, OEM, defense and security markets. They are addressing most of these markets by developing and selling their own finished products and building a growing eco-system of software and services internally and with their value added resellers, or VARs, developers and end customers. Another potential channel to these markets they are developing includes supplying mass production of waveguide optics and display engines to select third parties to use in their products.
They believe that their waveguides and compact display engine technologies are a key differentiator for enabling next generation AR and Smart Glasses hardware for the enterprise and consumer segments because they will ultimately allow them to make HMDs nearly indistinguishable from regular eyeglasses.
They have developed their own intellectual property portfolio that includes patents, over 22 years of manufacturing know-how, software, proprietary processes, materials and equipment to create high performance waveguides, and near-eye display products. They believe our technology, intellectual property portfolio and position in the marketplace give them a leadership position in AR and Smart Glasses products and waveguide optics and display engine technology.
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VUZI IS REBOUNDING HARD AND HAS CLOSED GREEN 10 OF THE LAST 12!
VUZIX RECEIVES OEM PURCHASE ORDERS FROM MULTIPLE DEFENSE AND COMMERCIAL CUSTOMERS
ROCHESTER, N.Y., Jan. 10, 2023 /PRNewswire/ — Vuzix® Corporation (NASDAQ: VUZI), (“Vuzix” or, the “Company”), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, is pleased to announce the receipt of multiple OEM purchase orders for engineering services and products from three previously undisclosed defense firms and one previously undisclosed commercial customer. These orders, which were all received during the second half of 2022 and partially or fully shipped against before year end, are expected to expand in size over time to the extent each of these programs progresses. A brief description of each of these firms, the names of which cannot be disclosed at this stage of development, and the intended use cases for are as follows.
A multinational electronics contract manufacturer has placed multiple orders for Vuzix waveguides and displays to support its development and manufacture of unique vision-based AR glasses.
A US-based leader in technologically advanced and intelligent solutions for the global aerospace and defense industry has given Vuzix an engineering services contract to support the development of a lightweight heads-up display (HUD) replacement for technologies previously supplied by a China-based company. This firm, a top 10 defense contractor, is the incumbent supplier for several existing programs and has turned to Vuzix as a US-based manufacturer of waveguide and display technologies.
A US-based supplier of protective armor and head systems, as well as innovative power supply and management solutions for military and tactical operators worldwide, has placed an order for Vuzix hardware technologies that will support their efforts to design several prototype display systems for the US Navy. Naval teams are currently using ruggedized Android phones but want to move the display to the helmet using Vuzix display technology. This customer plans to deliver its prototypes to the US Navy in pursuit of a design selection that, if successful, could result in volume production contracts over the next several years.
A US-based global leader in personal protection and situational awareness solutions for defense forces, emergency responders, and industrial personnel, has placed an order for Vuzix waveguides and projectors with the objective of adding smart capabilities to their helmet solutions via inclusion of a HUD.
“Our OEM business has continued to steadily expand in 2022 as more and more defense, consumer and enterprise firms are turning to Vuzix for its advanced low-cost waveguide and display solutions, solutions that are designed and manufactured in the United States. With some of these defense firms, we are already discussing much larger development and supply contracts for 2023,” said Paul Travers, President and Chief Executive Officer at Vuzix. “These new relationships further demonstrate the emerging presence of our advanced technologies in next generation system designs.”
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The Blade works as a standalone headset and can be connected to the internet via Wi-Fi, but it can also be paired over Bluetooth with an iPhone or Android device to mirror notifications and display photos and videos. It has a battery life of anywhere from two to 12 hours, the company claims, depending on whether you’re using it mostly for notifications or for more intensive applications like accessing the web via Alexa, playing games, or using the front-facing, 8-megapixel camera. To maneuver the device’s interface, you can use an internal voice control system that’s separate from Alexa, or you can use a series of multi-fingered swipes on the right side of glasses frame.
SALES PROGRESS
MEDICAL APPLICATIONS
VUZIX INTRODUCED ITS NEW AWARD WINNING ULTRALITE™ SMART GLASSES PLATFORM AT CES 2023
VUZIX ULTRALITE
AN OEM SMART GLASSES PLATFORM LIKE NO OTHER
The Vuzix Ultralite™ AR Smart Glasses Platform is a go-to-market ready, turnkey offering designed to fast track client AR solutions into production. Weighing in at a mere 38 grams, super power-efficient with up to 48 hours of run time on a single charge, and packing an impressive waveguide to display information from your phone hands-free to your eye, Vuzix Ultralite OEM platform is a blueprint for the world’s most fashion forward smart glasses.
TRUSTED PROPRIETARY TECHNOLOGY FROM VUZIX
Advanced monocular waveguide optics, combined with our custom micro display engine, create a crisp, transparent image that can deliver all the important information on a user’s smartphone/watch, hands-free right before their eyes. Prescription ready with multiple sizes and an array of component combinations, the Vuzix Ultralite OEM platform makes available our extensive manufacturing capabilities and patent-protected leadership position in both waveguides and custom display engine solutions.
THE POWER TO DEPLOY YOUR AR SOLUTION AT SCALE
The Vuzix Ultralite OEM platform is designed to enable leading consumer technology firms to accelerate deployment of AR smart glasses solutions to the masses. Our manufacturing facility in Rochester NY is an ISO 9001:2015 facility that includes Class 6 and Class 7 clean room enclosures ensuring the highest levels of product quality and precision. All Vuzix OEM components are designed and manufactured in the USA, leveraging proprietary advancements in waveguide technology protected by our extensive IP portfolio.
VUZIX ULTRALITE OEM PLATFORM BENEFITS
- Puts your smartphone’s alerts, messages, and custom applications content heads up in front of your vision.
- Get hands free access to important information, from language translation and closed captioning, to directions, to health and workout status, to messaging and much, much more.
- Designed to work hand to glove with both Android and iOS phones, Vuzix Ultralite is the reference design for the perfect smartphone accessory.
- Virtually endless configuration options around size, color, form factor and optical setup to set your solution apart.
- Vuzix is working with the world’s leading consumer electronic technology companies to bring lightweight, affordable smart glasses solutions to market.
VUZIX LEASES NEW MANUFACTURING SPACE TO SUPPORT THE EXPANSION OF ITS WAVEGUIDE PRODUCTION CAPACITY
Vuzix is eligible for up to $1 million from Empire State Development to support regional job creation through the Excelsior Jobs Tax Credit Program
WEST HENRIETTA, NY, November 3, 2022 – Vuzix® Corporation (NASDAQ: VUZI), (“Vuzix” or, the “Company”), a leading supplier of Smart Glasses and Augmented Reality (AR) technology and products, is pleased to announce that the Company has signed a new lease for floor space in a building adjacent to its West Henrietta headquarters for the express purpose of expanding its waveguide production capacity.
The lease is for partial occupancy of the building with an option to lease the entire building as needed for future phase expansion. Waveguide production equipment has already been purchased and will be installed and prepped for volume output over the next six months in this new ISO 9001 facility. The expanded facility will feature a Class 1000 cleanroom in addition to housing the optics and manufacturing equipment needed to support Vuzix’ propriety waveguide development process. This action is expected to increase the Company’s annual production capacity to well over one million units during the first half of 2023.
Related to this expansion, Vuzix is eligible for up to $1 million through Empire State Development’s (ESD) Excelsior Jobs Tax Credit program in exchange for job creation commitments. ESD is New York’s State’s chief economic development agency and has approved this level of support for Vuzix subject to its program rules.
“The optical, weight and power advantages offered by Vuzix waveguides are well appreciated by our partners in enterprise, defense, consumer and other markets. With the growing demand for custom configured waveguides emerging for us, it is an opportune time for Vuzix to be ramping its waveguide production capacity,” said Paul Travers, President and CEO of Vuzix. “All Vuzix OEM solutions are designed and manufactured in-house here in New York State, protected by a deep IP portfolio, and supported by facilities equipped to supply at scale and at a cost competitive price for key customers.”
NEWS
Jan 10, 2023 8:30am EST
VUZIX RECEIVES OEM PURCHASE ORDERS FROM MULTIPLE DEFENSE AND COMMERCIAL CUSTOMERS
Jan 06, 2023 9:00am EST
VUZIX BLADE POWERS XANDER’S REAL-TIME CAPTIONING XANDERGLASSES FOR THE DEAF AND HARD OF HEARING
Jan 03, 2023 9:26am EST
VUZIX TO SHOWCASE AT CES 2023 ONE OF THE INDUSTRY’S BROADEST AND MOST COMPETITIVE LINES OF AR SMART GLASSES
Dec 21, 2022 8:01am EST
VUZIX SIGNS DISTRIBUTION AGREEMENT WITH ELMARK AUTOMATION AND RECEIVES INITIAL VOLUME SMART GLASSES ORDER
Dec 19, 2022 10:00am EST
FUJITEC COMMENCES FULL-SCALE DEPLOYMENT WITHIN JAPAN OF VUZIX SMART GLASSES TO SUPPORT WORKFORCE MAINTENANCE AND TRAINING
Dec 09, 2022 10:00am EST
VUZIX TO DISCUSS THE AR INDUSTRY AND ITS SMART GLASSES SOLUTIONS AT THE OPPENHEIMER 5G VIRTUAL SUMMIT ON DECEMBER 13
Dec 01, 2022 10:32am EST
KYOCERA AND TOKYO MEDICAL DENTAL UNIVERSITY DEVELOP CARDIAC REHABILITATION THERAPY EMPLOYING VUZIX BLADE SMART GLASSES
Nov 17, 2022 7:00am EST
VUZIX TO INTRODUCE ITS NEW AWARD WINNING ULTRALITE™ SMART GLASSES PLATFORM AT CES 2023
Nov 09, 2022 4:02pm EST
VUZIX REPORTS DOUBLE DIGIT REVENUE GROWTH IN Q3 2022
Nov 03, 2022 1:35pm EDT
VUZIX ANNOUNCES GENERAL AVAILABILITY OF M400C SMART GLASSES
Nov 03, 2022 10:00am EDT
VUZIX LEASES NEW MANUFACTURING SPACE TO SUPPORT THE EXPANSION OF ITS WAVEGUIDE PRODUCTION CAPACITY
Nov 01, 2022 9:15am EDT
VUZIX ACQUIRES SAP SOFTWARE SOLUTION PROVIDER MOVIYNT™
Oct 19, 2022 1:30pm EDT
SALES VETERAN BILL BELTZ JOINS VUZIX IN THE NEW POSITION OF VICE PRESIDENT OF GLOBAL SALES
Oct 19, 2022 1:20pm EDT
VUZIX TO DEMONSTRATE ITS INDUSTRY-LEADING SMART GLASSES SOLUTIONS AT UPCOMING AES AND AWE-EU TRADE SHOW CONFERENCES
Oct 18, 2022 2:00pm EDT
VUZIX SCHEDULES CONFERENCE CALL TO DISCUSS THIRD QUARTER 2022 FINANCIAL RESULTS AND BUSINESS UPDATE
Oct 17, 2022 8:30am EDT
VUZIX BLADE SMART GLASSES SUPPORT XPERTINC’S CLOSED CAPTIONING C-SOUND SOLUTION FOR THE DEAF AND HEARING IMPAIRED
Oct 11, 2022 1:10pm EDT
VUZIX EXPANDS ASIA-PACIFIC PRESENCE WITH VOLUME SMART GLASSES ORDER FROM DISTRIBUTION PARTNER HONGKE
Oct 06, 2022 1:45pm EDT
VUZIX SMART GLASSES SELECTED TO SUPPORT NSION’S SEAMLESS SITUATIONAL AWARENESS SOLUTION FOR DOD AND FIRST RESPONDERS
Oct 03, 2022 10:45am EDT
HODEI TECHNOLOGY PARTNERS WITH VUZIX TO SUPPORT ITS NEW KLABRA PLATFORM AND PLACES INITIAL VOLUME PURCHASE ORDER
Sep 28, 2022 10:50am EDT
VUZIX ANNOUNCES GENERAL AVAILABILITY OF BLADE 2™ SMART GLASSES
MANAGEMENT
PAUL J. TRAVERS
CEO, President and Director
Paul Travers is the founder of Vuzix and has served as our President and Chief Executive Officer since 1997 and as a member of our Board of Directors since November 1997. Prior to the formation of Vuzix, Mr. Travers founded both e-Tek Labs, Inc. and Forte Technologies Inc. He has been a driving force behind the development of our products. With more than 30 years’ experience in the consumer electronics field, and 26 years’ experience in the virtual reality and virtual display fields, he is a nationally recognized industry expert. He holds an Associate degree in engineering science from Canton, ATC and a Bachelor of Science degree in electrical and computer engineering from Clarkson University.
GRANT RUSSELL
CFO, Executive Vice President, Treasurer and Director
Grant Russell has served as our Chief Financial Officer and Executive Vice President since 2000 and as a member of our Board of Directors since April 2009. From 1997 to 2004, Mr. Russell developed and subsequently sold a successful software firm and a new concept computer store and cyber café. In 1984, he co-founded Advanced Gravis Computer (Gravis), which, under his leadership as President, grew to become the world’s largest PC and Macintosh joystick manufacturer with sales of $44 million worldwide and 220 employees. Gravis was listed on NASDAQ and the Toronto Stock Exchange. In September 1996 it was acquired by a US-based Fortune 100 company via a successful public tender offer. Mr. Russell holds a Bachelor of Commerce degree in finance from the University of British Columbia and is both a US Certified Public Accountant and a Canadian Chartered Professional Accountant.
PETE JAMESON
COO
Pete Jameson was named Chief Operating Officer (COO) of Vuzix in January 2022, having served as General Manager since joining the company in January 2021. Mr. Jameson brings a wealth of operating experience to his new position. He previously served as COO of Osterhout Design Group (ODG), a leading wearable technology company that developed and manufactured mobile, self-contained and lightweight head-worn mixed reality smart glasses with photo-realistic imagery. Prior to ODG, Mr. Jameson was a 20-year executive at Eastman Kodak where he was a founding leader of Kodak’s multi-billion-dollar Digital Camera Business including General Manager and VP of the Digital SLR and Professional Digital Capture Group that created the world’s first digital SLR cameras, General Manager of Kodak’s Commercial Imaging Business in Europe, Africa and the Middle East and General Manager and VP of Kodak’s Digital Devices Group. He holds a Bachelor of Science Electrical Engineering degree from Union College and a Master of Business Administration degree from the University of Rochester Simon School of Business.
ERIC BLACK
General Counsel
Eric Black was named General Counsel of Vuzix in March 2022. Mr. Black brings a wealth of legal experience to his new position. While serving as in-house for other private and public technology companies, Mr. Black developed extensive experience in supporting business development and operational optimization by developing processes/workflows, negotiating complex contracts, advising on mergers and acquisitions, and informing business strategies that strengthen compliance and facilitate consistent growth. Mr. Black was previously named one of Rochester’s “Forty Under 40” by the Rochester Business Journal in 2006 and one of Rochester’s Top Counsel by the Rochester Daily Record in 2019. He holds a Bachelor of Economics degree from the University of Rochester and a Doctor of Jurisprudence degree from the University of Virginia School of Law.
SHANE PORZIO
Vice President Engineering
Shane Porzio has been with the Company for more than ten years and has more than 13 years of experience in architecture of systems and designs for hardware and software. His previous employment was at Lockheed Martin where he served as a Hardware Engineer. Mr. Porzio has BS in Computer Engineering Technology from Rochester Institute of Technology and his MS in Computer Science from Rochester Institute of Technology.
BILL BELTZ
Vice President of Global Sales
Bill Beltz brings a wealth of general management and sales experience to his new position. Prior to joining Vuzix, he served as Vice President of Sales at Snap One, a leading manufacturer and distributor of smart living technology. Prior to Snap One, he held sales and management positions of increasing responsibility at both NCR Corporation, a Fortune 500 software, consulting and technology company providing professional services and electronic products, and Radiant Systems, a provider of technology to the hospitality and retail industries that was subsequently acquired by NCR Corporation.
Sincerely,
