Vuzix Corporation - VUZI STOCK NEWS

Vuzix (NASDAQ: VUZI) has announced an expanded focus on OEM partnerships and waveguide manufacturing following a strategic investment by Quanta Computer Inc. This positions Vuzix to collaborate with new clients in developing and mass-producing intelligent waveguide configurations for AR/AI smart glasses solutions. Vuzix offers a one-stop solution for high-volume smart glasses waveguide manufacturing, leveraging in-house expertise and a vast optics industry network.

The company's state-of-the-art waveguide production facility in New York boasts over 25 years of optics experience, allowing clients to accelerate time to market with consistent, quality-driven output at scale. Vuzix employs proprietary processes for cost-competitive waveguide production, setting it apart from firms using standard semiconductor fabrication techniques.

Vuzix CEO Paul Travers emphasized the company's unparalleled expertise in waveguide design and cost-effective production, important for the success of AI-driven smart glasses across consumer, enterprise, and defense sectors. He expressed confidence that Vuzix's competitive technologies will drive substantial business opportunities, revenue, and profit growth in the coming years.

Vuzix (NASDAQ: VUZI) has announced the completion of the first $10 million investment tranche from Quanta Computer Inc. This investment is part of a larger $20 million strategic investment agreement aimed at expanding Vuzix's waveguide production capabilities and supporting the joint development of new AR/AI smart glasses technologies.

The investment involves the sale of common stock at $1.30 per share. Vuzix CEO Paul Travers expressed positive feedback from investors and potential partners since the initial announcement on September 3, 2024. He highlighted the potential for significant new revenue from waveguides for AI smart glasses in the coming years, benefiting both Vuzix and Quanta.

Vuzix (NASDAQ: VUZI) has announced a strategic investment from Quanta Computer Inc. (TWSE: 2382.TW), a global Fortune 500 company and leading ODM. The investment totals $20 million, to be delivered in three tranches:

1. $10 million in Vuzix common stock
2. $5 million in Vuzix Series B Preferred Stock (milestone-dependent)
3. $5 million in Vuzix Series B Preferred Stock (milestone-dependent)

This investment aims to support Vuzix's expansion of waveguide production capabilities and joint development of new AR/AI smart glasses technologies. The partnership, first disclosed in November, is expected to strengthen Vuzix's balance sheet and drive significant revenue potential in the coming years.

Vuzix (NASDAQ: VUZI) announced that its Z100 smart glasses have been chosen by GPS TUNER, a leader in eMobility software solutions, to bundle as a heads-up AR display for their eBike apps. GPS TUNER plans to offer eBike manufacturers the option to include Vuzix Z100 smart glasses with every bike sold, aiming to reduce rider distraction and enhance the usage of their mobility apps.

GPS TUNER's new V2X technology, demonstrated with Vuzix Z100 smart glasses at Eurobike 2024, aims to transform road safety by enabling real-time communication between vehicles, infrastructure, and personal devices. The company's CEO, Gábor Tárnok, expressed confidence in the combined solution's appeal to their eBike customers, with an initial rollout anticipated this year.

Vuzix (NASDAQ: VUZI) reported Q2 2024 results, showing a significant revenue decline. Total revenues decreased by 77% to $1.1 million, primarily due to lower M400 smart glasses sales. The company reported a gross loss of $0.3 million and a net loss of $40.6 million ($0.62 per share), compared to a net loss of $9.0 million ($0.14 per share) in Q2 2023. The increased net loss included a $30.1 million non-cash charge related to the termination of a technology license agreement. Despite challenges, Vuzix has reduced its annual cost structure by $8 million and maintains a cash position of $9.9 million. The company expects revenue improvement in the second half of 2024, driven by potential volume deployments and OEM business opportunities.

Vuzix (NASDAQ: VUZI) has developed a new micro-touch manufacturing technique for optical waveguide fabrication, enhancing production capabilities for AR smart glasses. This advancement promises better optical performance, higher yields, and increased production rates. The micro-touch imprinting process reduces substrate distortion during manufacturing, allowing for the use of more fragile materials like polymers or thinner glass.

Vuzix's state-of-the-art facility, with its class 1000 clean room environments, has been continuously improving waveguide manufacturing over the past 14 years. This latest innovation addresses a major challenge in bringing affordable AR smart glasses to broader markets. Paul Travers, President and CEO of Vuzix, highlighted the company's position as a go-to supplier for leading firms like Garmin and Quanta, emphasizing Vuzix's ability to support production rates in the millions of units annually.

Vuzix (NASDAQ: VUZI) has introduced the M400 Xtreme smart glasses, an enhanced version of their popular M400 model, designed for harsh workplace environments. The new kit features:

• Operating temperatures from -20°C to 45°C (-4°F to 113°F)
• IP67-rated Xtreme Weather power bank
• Improved battery capacity
• Comfortable headband for long shifts

Vuzix is also offering a Collaboration Package with free access to popular AR communication tools, including Vuzix Video Conferencing for Zoom. The M400 Xtreme is ideal for remote field service assignments and cold storage warehouse duty. This release addresses customer feedback and aims to meet the growing need for connectivity in challenging environments.

Vuzix (NASDAQ: VUZI), a leading supplier of smart glasses and Augmented Reality (AR) technology, has announced a conference call to discuss its second quarter 2024 financial results on August 14, 2024, at 4:30 PM Eastern Time. The call will feature CEO Paul Travers and CFO Grant Russell, who will present operational and financial highlights for the quarter ended June 30, 2024.

Investors can join the call by dialing 877-709-8150 (U.S. and Canada) or 201-689-8354 (international) or by using a provided link for instant access. A live webcast will also be available on the company's investor relations page. Replays of the call will be accessible for 30 days following the event.

Vuzix (NASDAQ: VUZI) announced that its wholly owned subsidiary, Moviynt, has received SAP certification for its Mobilium Gateway™ 3.0 solution. This certification allows Moviynt's platform to be used with SAP's S/4HANA Cloud Private Edition software, which is currently utilized by over 20,000 customers worldwide. The Mobilium platform bridges the gap between mobile devices and ERP systems, enabling rapid development of new workflows to eliminate inefficiencies and capture data across all levels of an organization.

Moviynt's solution is a multi-ERP, SAP premium certified plugin that allows customers to publish APIs and connect them to existing SAP functions. It also provides a workbench for managing work distribution, monitoring progress, and tracking exception handling. This certification assures clients that Moviynt's solutions meet SAP's rigorous technical, security, and business standards, positioning the company as a trusted partner for optimized hands-free automation in warehouses and beyond.