Vuzix Corporation - VUZI STOCK NEWS

Vuzix Corporation (NASDAQ: VUZI) has partnered with a new medical organization in the USA to create a customized head-mounted display for assisting in cancer surgeries. The initial phase of the project includes an upfront payment and development milestones, anticipated to generate low six-figure revenue by the end of 2020. There may be additional non-recurring engineering revenues in subsequent phases, potentially leading to a volume OEM production order. This marks Vuzix's third development agreement in 2020, showcasing its capabilities in waveguide optics technology.

Vuzix Corporation (NASDAQ: VUZI) announced that its M400 Smart Glasses were utilized by the University Malaya Specialist Centre in Malaysia during a COVID-19 response study. The study aimed to assess the feasibility of telemedicine for neurosurgical ward rounds while minimizing exposure. Conducted on 103 patients, it achieved excellent intra-rater reliability, with 90% showing good to excellent consistency. The results confirmed Vuzix M400 Smart Glasses as an effective and accepted alternative to physical ward rounds. Vuzix continues to validate its position in the AR and smart glasses market.

Vuzix Corporation (NASDAQ: VUZI) announced on September 30, 2020, the commencement of volume production and shipment of its M4000 Smart Glasses across the US, Canada, EU, and Japan. These glasses feature advanced AR capabilities and a non-occluded heads-up display, built on Qualcomm's XR1 platform. With a brightness of 5,000 nits, they are suitable for various environments. The M4000 caters to enterprise needs, providing long-term support, upgrades, and compatibility, enhancing Vuzix's position in the smart glasses market.

Vuzix Corporation (NASDAQ: VUZI) announced on Sept. 29, 2020, that it has received regulatory approvals for its Blade Upgraded Smart Glasses from agencies in the US, Canada, the EU, and Japan. The company has commenced shipping early orders and will soon sell the glasses on Amazon. The upgraded model features safety certifications, built-in stereo audio, and an autofocus camera, enhancing video conferencing and barcode scanning capabilities. The new version supports popular platforms like Zoom and Webex, and includes a Vuzix Barcode SDK to aid enterprise applications.

Vuzix Corporation (NASDAQ: VUZI) has announced the successful deployment of its M400 Smart Glasses by Clorox to address operational challenges amid the COVID-19 pandemic. The glasses, combined with Atheer software, allowed Clorox to conduct remote audits and troubleshoot manufacturing issues without travel, significantly reducing costs and downtime. The partnership showcases Vuzix's ongoing commitment to providing innovative AR solutions for enterprise customers, reflecting an increasing demand for remote assistance technologies during the ongoing health crisis.

Vuzix Corporation (NASDAQ: VUZI) has announced support for Oculogx's omnichannel order fulfillment software, designed for increased productivity in retail and warehouse settings. The Oculogx suite, which includes Ocx One, Outline, and Portal, significantly enhances order fulfillment efficiency and accuracy. Notably, a large international grocer using Oculogx achieved an 18% efficiency increase and a 17% accuracy improvement. This partnership capitalizes on the growing e-commerce trend, evidenced by a 30.1% rise in online retail spending in the first half of 2020.

Vuzix Corporation (NASDAQ: VUZI) announced successful usage of its M400 Smart Glasses during patient surgeries and in emergency rooms at Chi-Mei Medical Center, Taiwan's largest healthcare system. The glasses, designed for all-day wear and IP67-rated, have facilitated real-time communication and video streaming for medical staff, enhancing training and patient care. Dr. Bor-Chih Cheng praised their lightweight design and hands-free operation, while CEO Paul Travers emphasized their role in telemedicine. A white paper case study on their use is available online.

Vuzix Corporation (NASDAQ: VUZI) announced a registered direct offering of 3,647,060 shares and warrants to purchase an additional 3,647,060 shares at $4.25 per share, expected to raise gross proceeds of $15.5 million. The warrants have an exercise price of $5.25 and are exercisable for six months post-issue. The funds will be used for general corporate purposes, including inventory expansion and the development of next-gen micro-LED augmented reality smart glasses. The offering is expected to close on September 9, 2020, pending customary conditions.

Vuzix Corporation (NASDAQ: VUZI) has signed an agreement with a major international defense contractor to develop a customized waveguide solution. This initial phase includes an upfront payment, expected to generate non-recurring engineering (NRE) revenue over the next three months, with the possibility of further phases. This marks Vuzix's third active defense engineering program in 2020, showcasing its strong position in waveguide optics technology.