Vuzix Corporation (NASDAQ:VUZI) Q4 2024 Earnings Conference Call March 13, 2025 4:30 PM ET Company Participants Ed McGregor - Director, Investor Relations Paul Travers - Chief Executive Officer Grant Russell - Chief Financial Officer Conference Call Participants Christian Schwab - Craig-Hallum Operator Greetings, and welcome to the Vuzix Corporation Fourth Quarter and Full Year Ending December 31, 2024, financial results and business update conference call. A brief question and answer session will follow th ...

ROCHESTER, N.Y., March 13, 2025 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI) ("Vuzix" or the "Company"), a leading supplier of AI-driven smart glasses, waveguides and Augmented Reality (AR) technologies, today reported its fourth quarter and full year financial results for the year ended December 31, 2024."In 2024, the AI and AR smart glasses market continued to evolve, and Vuzix made major advancements in product innovation, technology, customer engagement, and strategic partnerships," said Paul Trave ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-35955 Vuzix Corporation (Exact name of registrant as specified in its charter) Delaware 04-3392453 (State of incorporation) (I.R.S. employer identification no.) W ...

Core Insights - Vuzix Corporation has received its largest re-order to date for Vuzix Shield smart glasses from Xander, indicating a growing demand for the XanderGlasses solution designed for individuals with hearing loss [1][3] - XanderGlasses provide real-time captions for conversations, enhancing communication for the 48 million people in the U.S. experiencing hearing loss [3][4] - The glasses are self-contained, easy to use, and do not require additional devices, making them suitable for various environments [2][4] Company Overview - Xander is a startup based in Raleigh, North Carolina, focused on using augmented reality to improve in-person communication for those with hearing challenges [4] - Vuzix Corporation specializes in AI-powered smart glasses and augmented reality technologies, holding over 425 patents and numerous awards for innovation [5]

Core Points - Vuzix Corporation will host a conference call on March 13, 2025, to discuss its fourth quarter and full year 2024 operating results [1] - The call will feature Vuzix's CEO Paul Travers and CFO Grant Russell, who will present operational and financial highlights for the year ended December 31, 2024 [3] Company Overview - Vuzix is a leading designer, manufacturer, and marketer of AI-driven smart glasses, waveguides, and augmented reality (AR) technologies for various markets including enterprise, medical, defense, and consumer [5] - The company holds over 425 patents and patents pending, along with numerous IP licenses in optics and augmented reality wearables [5] - Vuzix has received multiple awards for innovation at the Consumer Electronics Show (CES) from 2005 to 2024 [5]

Group 1 - Vuzix Corporation and TranscribeGlass launched an AI-powered transcription service using Vuzix Z100 smart glasses to enhance accessibility for the deaf or hard of hearing [1][2] - The TranscribeGlass solution converts speech into text with sub-300 millisecond latency, ensuring fast and accurate closed captions, and connects via Bluetooth to existing smartphones or tablets [2][3] - The collaboration aims to drive adoption and innovation in the smart glasses industry, reinforcing Vuzix's leadership in AI-enabled wearable technology [3][4] Group 2 - Vuzix is a leading designer and manufacturer of AI-driven smart glasses and AR technologies, holding over 425 patents and numerous IP licenses in optics and augmented reality [4] - The company has received multiple awards for innovation, including Consumer Electronics Show (CES) awards from 2005 to 2024 [4]

Core Insights - Vuzix Corporation has fulfilled a six-figure follow-on production order for customized waveguides for a lightweight heads-up display (HUD) intended for a key defense program [1][2] - The order was placed by a major U.S.-based defense contractor recognized for its advanced aerospace and defense solutions, highlighting Vuzix's role as a trusted supplier [2] - Vuzix's advanced see-through display technologies and U.S.-based manufacturing capabilities position the company to support the defense industry's evolving needs for next-generation wearable display solutions [3] Company Overview - Vuzix is a leading designer, manufacturer, and marketer of AI-driven smart glasses and augmented reality (AR) technologies for various markets, including enterprise, medical, defense, and consumer [3] - The company holds over 425 patents and patents pending, along with numerous IP licenses in optics, head-mounted displays, and augmented reality wearables [3] - Vuzix has received multiple awards for innovation at the Consumer Electronics Show (CES) from 2005 to 2024, along with several wireless technology innovation awards [3]

Core Insights - Vuzix Corporation and Mentra have launched AugmentOS, a universal operating system for smart glasses, enhancing AI functionality and app development capabilities [1][4][6] - AugmentOS 1.0 is designed to improve human potential through AI-powered features, including real-time captions, instant translation, and proactive AI assistance [2][3] - The collaboration between Vuzix and Mentra aims to position Vuzix at the forefront of the AI-enabled wearable technology market [4][6] Company Overview - Vuzix is a leading designer and manufacturer of AI-driven smart glasses and augmented reality technologies, holding over 425 patents and numerous IP licenses [6] - The company has received multiple awards for innovation at the Consumer Electronics Show from 2005 to 2024, highlighting its commitment to technological advancement [6] Product Features - AugmentOS includes essential features such as smart notifications, AI dashboards, and language learning tools, all integrated for immediate use [2][3] - The development platform allows developers to create applications that can run across various smart glasses models, enhancing the user experience [3]

Core Insights - Vuzix Corporation will participate in the SPIE Photonics West Conference, a leading event for lasers and biophotonic technologies, from January 28-30, 2025 [1] - The company’s President and CEO, Paul Travers, will be on an AI/AR Glasses panel discussing current and future use cases, solution tradeoffs, and hardware components [2] - Vuzix's Vice President of Advanced Optics, Rob Schultz, will present on the challenges of producing waveguides at the conference [3] Company Overview - Vuzix is a prominent designer and manufacturer of AI-driven smart glasses and AR technologies for various markets including enterprise, medical, defense, and consumer [4] - The company holds over 425 patents and has received multiple awards for innovation, including Consumer Electronics Show awards from 2005 to 2024 [4] - Founded in 1997, Vuzix is publicly traded on NASDAQ under the ticker VUZI and has offices in Rochester, NY, and Japan [4]

Distribution Agreement - Vuzix Corporation has entered into a distribution agreement with Evantek Pte Ltd, a diversified system integrator, to distribute Vuzix M400 smart glasses across the Asia Pacific region [1] - Evantek has received and shipped an initial stocking order for Vuzix M400 smart glasses [1] Industry Verticals - Evantek will distribute Vuzix M400 smart glasses across multiple industry verticals, including healthcare, field services, and manufacturing [2][3] Company Background - Evantek has a strong reputation as a premier solutions provider in the Asia Pacific region, with expertise in industrial product design, commercial display systems, transportation system solutions, and telecommunication solutions [3] - Vuzix is a leading designer, manufacturer, and marketer of AI-driven smart glasses and AR technologies, with products targeting enterprise, medical, defense, and consumer markets [5] - Vuzix holds over 425 patents and patents pending, and has won multiple CES awards for innovation from 2005 to 2024 [5] Partnership Statements - Evantek's Managing Director expressed excitement about partnering with Vuzix to offer smart glasses technology to enterprise clients, aiming to help them gain a competitive edge in digital transformation [4] - Vuzix's President and CEO highlighted the alignment of market verticals between the two companies and the potential for increased market penetration through the distribution partnership [4]