Vuzix Corporation - VUZI STOCK NEWS

Vuzix Corporation (NASDAQ: VUZI) announced that Fujitec Co., Ltd., the world's largest elevator manufacturer, has begun deploying Vuzix M400 smart glasses in Japan. This initiative aims to enhance elevator maintenance and engineer training. The smart glasses will allow remote assistance, minimizing travel costs and improving productivity and safety. Fujitec's selection criteria included display visibility, usability with safety gear, quality video calls, and durability. Vuzix's CEO stated that the glasses' hands-free functionality will greatly benefit companies like Fujitec.

Vuzix Corporation (NASDAQ: VUZI), a leader in Smart Glasses and Augmented Reality (AR) technologies, announced participation in the Oppenheimer 5G Summit on December 13. CEO Paul Travers will present insights at 2:55 PM ET, available for live streaming and later replay. The summit aims to explore advancements in 5G technology and its implications for AR solutions. Investors can schedule one-on-one meetings with Vuzix management during the event. Founded in 1997, Vuzix holds numerous patents in AR and has won multiple awards for innovation in technology.

Vuzix Corporation (NASDAQ: VUZI) announced a collaboration between Kyocera and Tokyo Medical Dental University (TMDU) to develop a cardiac rehabilitation system utilizing Vuzix Blade smart glasses. This innovative system combines a bone conduction headset, biometric sensors, and ECG monitoring, allowing physicians to track patient vital signs in real-time. The aim is to enhance rehabilitation therapy, especially for COVID-19 patients, while minimizing infection risk. Vuzix's lightweight, wireless smart glasses are designed for seamless patient-therapist interaction, promising to improve treatment outcomes.

Vuzix Corporation (NASDAQ: VUZI) announced that its Vuzix Ultralite™ Smart Glasses have won the CES 2023 Innovation Awards in the Wearable Technology category. This recognition marks the company's nineteenth consecutive year of receiving awards at CES. The Ultralite™ features a lightweight design of 38 grams, offering up to two days of battery life, and is crafted as a smartphone accessory. Its advanced optics provide hands-free access to smartphone notifications. The company is collaborating with leading consumer electronics brands to popularize these innovative smart glasses.

Vuzix Corporation (NASDAQ: VUZI) reported Q3 2022 results with total revenues of $3.4 million, a 14% increase year-over-year, driven by engineering services. Gross profit reached $0.9 million, or 25% of revenues, compared to 13% in Q3 2021. The net loss improved to $9.5 million, or $0.15 per share. Operating expenses were stable at $10.8 million. Vuzix has $90.4 million in cash, indicating strong liquidity. The company continues to engage new customers and completed the acquisition of Moviynt to expand its software solutions capability.

Vuzix Corporation (NASDAQ: VUZI) announced that its Vuzix M400C™ smart glasses are now available for customer orders in multiple regions, including the US, Canada, UK, EU, and Japan. Priced at $1299.99, these glasses feature an autofocus HD camera capable of streaming 1080p video at 60 fps, an OLED display, and voice control. Unlike the earlier M400 model, the M400C functions as a USB-C peripheral rather than a standalone device. Designed for high-security environments, it integrates seamlessly into existing mobile ecosystems without additional IT overhead.

Vuzix Corporation (NASDAQ: VUZI) announced a new lease for additional manufacturing space adjacent to its headquarters in West Henrietta, New York. This expansion aims to enhance waveguide production capacity significantly, with plans to produce over one million units annually by mid-2023. The facility will include a Class 1000 cleanroom and is eligible for up to $1 million in support from the Empire State Development's Excelsior Jobs Tax Credit Program, contingent upon job creation commitments.

Vuzix Corporation (NASDAQ: VUZI) announced the acquisition of Moviynt, an SAP Certified ERP software provider, to enhance logistics and warehousing workflows. This acquisition aims to integrate smart glasses and mobile devices into operational processes, driving efficiency in supply chain management. Moviynt's software, which eliminates middleware and is compatible with various ERP systems, is expected to contribute low six-figure revenues in Q4 2022. The acquisition is anticipated to be immediately accretive, aligning with Vuzix's strategy to expand its software solutions portfolio.

Vuzix Corporation (NASDAQ: VUZI) announces the appointment of Bill Beltz as VP of Global Sales, effective immediately. This newly created role aims to enhance Vuzix's global sales outreach. Beltz brings extensive sales experience from Snap One and NCR Corporation. He is expected to innovate sales strategies and manage regional teams to capitalize on opportunities in the smart glasses market, which Beltz described as a significant area for cost reduction and productivity improvements. CEO Paul Travers expressed confidence in Beltz's capability to lead Vuzix through its growth phase.