Vuzix

Vuzix designs, manufactures, and supplies optical components, waveguides, smart glasses, and AR solutions to defense, security, and enterprise clients. It also caters to the manufacturing, field service, and healthcare sectors using Vuzix Remote Assist—which combines smart glass and video streaming capabilities. The company specializes in waveguide optical technology and holds over 200 optical system patents and IP licenses. Vuzix has an operational presence in the US, the UK, and Japan. Vuzix smart glasses are sold under the M-SERIES line—which includes the Vuzix M400-C (introduced in January 2022), Vuzix M4000, and the Vuzix M400 priced between USD 1,200 and USD 2,500.

Moreover, it launched Vuzix Blade (production began in 2H 2020, priced at USD 1,000) and Vuzix Shield (introduced in January 2022 at USD 1,200), the latter of which is expected to integrate with video conferencing applications including Microsoft Teams and Zoom once it's commercially available. The devices are also accompanied by an app that can be used to link the headgear and smartphone for configuration. It also offers bespoke solutions for OEM partners in areas such as waveguide and display engine technology (e.g. microLED projection display engine). 

Vuzix recently partnered with assisted reality and workflow management software solutions company AMA (January 2022) while expanding its healthcare presence by partnering with Canadian remote patient care company TeleVU (July 2021) and AR surgical platform NextAR (June 2021). It also signed a distribution agreement with European technology supplier Barcotec (December 2021). 

In 2021, Vuzix reported USD 13.2 million in revenue, reflecting YoY growth of 13.8%. The sale of smart glasses accounted for the majority (96%) of its revenue. 2021 gross profit was USD 2.5 million, registering YoY growth of 31.6%. However, net losses ballooned to USD 40.4 million in 2021 from USD 18.0 million in 2020 due to a more than 80% YoY increase in R&D and general and administrative expenses.