Exhibit 99.1 Press Release ROCHESTER, N.Y., May 9, 2024 - VuzixCorporation (NASDAQ: VUZI) ("Vuzix" or the "Company"), a leading supplier of Smart Glasses and Augmented Reality (AR) technologies and products, today reported its first quarter results for the three months ended March 31, 2024. "In Q1 2024, Vuzix continued to work toward expanding and deepening relationships within the enterprise, consumer, and defense markets. An increasing number of potential customers are indicating they embrace the unique c ...

Vuzix Corporation (NASDAQ:VUZI) Q1 2024 Results Conference Call May 9, 2024 4:30 PM ET Company Participants Ed McGregor - Director, IR Paul Travers - CEO Grant Russell - CFO Conference Call Participants Matt VanVliet - BTIG Operator Greetings, and welcome to the Vuzix First Quarter for the Period Ending March 31, 2024 Financial Results and Business Update Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Opera ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2024 OR ☐ 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 or other jurisdiction of incorporation or organiza ...

Vuzix Corporation (NASDAQ:VUZI) Q4 2023 Earnings Conference Call April 15, 2024 4:30 PM ET Company Participants Ed McGregor - Director, IR Paul Travers - CEO Grant Russell - CFO Conference Call Participants Tyler Burmeister - Craig-Hallum Capital Aaron Martin - AIGH Investment Partners Operator Greetings, and welcome to the Vuzix's Fourth Quarter and Full Year ending December 31, 2023 Financial Results and Business Update Conference Call. At this time, all participants are in a listen-only mode. A brief que ...

model, with the publisher receiving approximately 70% of the subscriptions collected. Supported by Vuzix' new App Store, developers can offer or sell their applications to all Vuzix Smart Glasses users, expanding into an ecosystem of AR applications for real world use today. The app store supports free, onetime fee, and paid subscription monetization models. The Vuzix third-party developer community is able to leverage the open Android platform of the Vuzix M-Series and the Vuzix Blade to bring new and crea ...

Vuzix Corporation (NASDAQ:VUZI) Q3 2023 Earnings Conference Call November 9, 2023 4:30 PM ET Company Participants Ed McGregor - Director of Investor Relations Paul Travers - President and Chief Executive Officer Grant Russell - Chief Financial Officer and Executive Vice President Conference Call Participants Matt VanVliet - BTIG Christian Schwab - Craig-Hallum Operator Greetings and welcome to the Vuzix Third Quarter Ending September 30th, 2023 Financial Results and Business Update Conference Call. At this ...

[Part I – Financial Information](index=3&type=section&id=Part%20I%20%E2%80%93%20Financial%20Information) [Consolidated Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Consolidated%20Financial%20Statements%20%28Unaudited%29) This section presents the unaudited consolidated financial statements, highlighting the company's financial position, performance, and cash flows for the three and nine months ended September 30, 2023 [Consolidated Balance Sheets](index=3&type=section&id=Consolidated%20Balance%20Sheets) As of September 30, 2023, total assets decreased to **$101.0 million** from **$132.3 million** at year-end 2022, primarily due to a reduction in cash and cash equivalents Consolidated Balance Sheet Highlights (in thousands) | Account | Sep 30, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | Cash and Cash Equivalents | $38,049 | $72,564 | | Total Current Assets | $59,610 | $91,241 | | Total Assets | $100,988 | $132,313 | | Total Current Liabilities | $5,144 | $15,277 | | Total Liabilities | $5,312 | $15,583 | | Total Stockholders' Equity | $95,676 | $116,730 | [Consolidated Statements of Operations](index=5&type=section&id=Consolidated%20Statements%20of%20Operations) Q3 2023 saw a **36%** decrease in total sales to **$2.2 million**, resulting in a gross loss and a widened net loss of **$11.0 million**, while nine-month sales increased **24%** to **$11.1 million** with a flat net loss Q3 2023 vs Q3 2022 Performance (in thousands, except per share data) | Metric | Q3 2023 | Q3 2022 | | :--- | :--- | :--- | | Total Sales | $2,180 | $3,427 | | Gross Profit (Loss) | ($238) | $868 | | Loss From Operations | ($11,433) | ($9,965) | | Net Loss | ($10,983) | ($9,477) | | Loss per Share | ($0.17) | ($0.15) | Nine Months 2023 vs 2022 Performance (in thousands, except per share data) | Metric | 9M 2023 | 9M 2022 | | :--- | :--- | :--- | | Total Sales | $11,062 | $8,938 | | Gross Profit | $1,611 | $1,609 | | Loss From Operations | ($31,887) | ($30,380) | | Net Loss | ($30,269) | ($30,005) | | Loss per Share | ($0.48) | ($0.47) | [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) For the nine months ended September 30, 2023, net cash used in operating activities increased to **$20.1 million**, with total cash and cash equivalents decreasing by **$34.5 million** to **$38.0 million** Cash Flow Summary for Nine Months Ended Sep 30 (in thousands) | Activity | 2023 | 2022 | | :--- | :--- | :--- | | Net Cash Used in Operating Activities | ($20,134) | ($17,935) | | Net Cash Used in Investing Activities | ($13,932) | ($11,692) | | Net Cash Used in Financing Activities | ($450) | ($203) | | **Net Decrease in Cash** | **($34,515)** | **($29,829)** | [Notes to the Unaudited Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20the%20Unaudited%20Consolidated%20Financial%20Statements) The notes detail accounting policies, significant customer concentrations, revenue recognition, remaining performance obligations, technology license commitments, and potential stock-based compensation under the LTIP - For Q3 2023, one customer accounted for **21%** of product revenue, and three customers represented **54%**, **18%**, and **14%** of engineering services revenue; as of September 30, 2023, two customers comprised **54%** and **22%** of accounts receivable[17](index=17&type=chunk)[19](index=19&type=chunk) - As of September 30, 2023, the company had approximately **$3.2 million** in remaining performance obligations from four waveguide development projects, expected to be recognized as revenue through 2025[27](index=27&type=chunk) - The company has a remaining funding commitment of **$2.0 million** for technology licenses with Atomistic SAS, to be paid over the next three months[36](index=36&type=chunk) - Under the Long-Term Incentive Plan (LTIP), if all currently non-probable operational milestones are achieved, the company could recognize up to an additional **$34.1 million** in non-cash stock-based compensation expense[55](index=55&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=19&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the **36%** Q3 2023 sales decrease and **24%** nine-month sales increase, alongside mixed operating expense trends and a significant decline in liquidity due to operating losses and strategic investments [Results of Operations - Comparison of Three Months Ended September 30, 2023 and 2022](index=23&type=section&id=Results%20of%20Operations%20-%20Comparison%20of%20Three%20Months%20Ended%20September%2030%2C%202023%20and%202022) Q3 2023 saw a **36%** decline in total sales to **$2.2 million**, resulting in a gross loss and widened operating loss, despite decreases in R&D and G&A expenses, offset by a **43%** surge in Selling & Marketing costs Q3 2023 vs Q3 2022 Sales Breakdown (in thousands) | Sales Type | Q3 2023 | Q3 2022 | Change (%) | | :--- | :--- | :--- | :--- | | Sales of Products | $1,372 | $2,538 | (46)% | | Sales of Engineering Services | $808 | $889 | (9)% | | **Total Sales** | **$2,180** | **$3,427** | **(36)%** | - The gross margin turned negative to **(11)%** in Q3 2023 from a positive **25%** in Q3 2022, primarily due to the sharp decline in product sales[76](index=76&type=chunk) - Selling and Marketing expenses increased by **43%** (**$0.85 million**) YoY, driven by higher salary/benefits from increased headcount (**$0.52 million**) and increased advertising/tradeshow expenses (**$0.24 million**)[82](index=82&type=chunk) [Results of Operations - Comparison of Nine Months Ended September 30, 2023 and 2022](index=27&type=section&id=Results%20of%20Operations%20-%20Comparison%20of%20Nine%20Months%20Ended%20September%2030%2C%202023%20and%202022) For the nine months ended September 30, 2023, total sales increased **24%** to **$11.1 million**, but gross profit remained flat, while operating expenses showed mixed trends, leading to a slightly increased operating loss Nine Months 2023 vs 2022 Sales Breakdown (in thousands) | Sales Type | 9M 2023 | 9M 2022 | Change (%) | | :--- | :--- | :--- | :--- | | Sales of Products | $9,988 | $7,939 | 26% | | Sales of Engineering Services | $1,074 | $998 | 8% | | **Total Sales** | **$11,062** | **$8,938** | **24%** | - Gross profit for the nine-month period was nearly unchanged at **$1.6 million**, with the gross margin decreasing from **18%** to **15%** YoY[91](index=91&type=chunk) - Selling and Marketing expenses increased by **34%** (**$2.0 million**) YoY, primarily due to a **$1.5 million** increase in salary and benefits from headcount increases[97](index=97&type=chunk) [Liquidity and Capital Resources](index=31&type=section&id=Liquidity%20and%20Capital%20Resources) The company's liquidity significantly decreased, with cash and cash equivalents falling by **$34.5 million** to **$38.0 million** due to cash used in operations, strategic investments, and financing activities - Cash and cash equivalents decreased by **$34.5 million**, from **$72.6 million** on December 31, 2022, to **$38.0 million** on September 30, 2023[103](index=103&type=chunk) - Net cash used in investing activities for the nine months was **$13.9 million**, which included **$9.5 million** in payments for the Atomistic technology license and **$3.6 million** for manufacturing equipment and leasehold improvements related to the waveguide expansion project[106](index=106&type=chunk) - The company has incurred a net loss of **$30.3 million** for the nine months ended September 30, 2023, and has an accumulated deficit of **$274.1 million**[109](index=109&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=34&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company faces market risks from interest rate fluctuations and foreign currency exchange rates in its international operations but does not currently use hedging instruments, deeming the impact immaterial - The company is exposed to interest rate risk on its investments and foreign currency exchange rate risk from business in Japan and Europe[116](index=116&type=chunk) - Vuzix does not currently hedge its foreign currency exchange rate risk and estimates that associated market risk is not material[116](index=116&type=chunk) [Controls and Procedures](index=34&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that disclosure controls and procedures were effective as of September 30, 2023, with no material changes to internal control over financial reporting - Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were effective as of September 30, 2023[117](index=117&type=chunk) - No changes occurred during the quarter that materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[118](index=118&type=chunk) [Part II – Other Information](index=35&type=section&id=Part%20II%20%E2%80%93%20Other%20Information) [Legal Proceedings](index=35&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently involved in any material legal proceedings or litigation - The company reports no current involvement in any material actual or pending legal proceedings[120](index=120&type=chunk) [Risk Factors](index=35&type=section&id=Item%201A.%20Risk%20Factors) No material changes have occurred to the risk factors previously disclosed in the company's 2022 Annual Report on Form 10-K - No material changes have been made to the risk factors discussed in the 2022 Annual Report on Form 10-K[121](index=121&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=35&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales or purchases of equity securities during the period - There were no unregistered sales of equity securities or purchases of equity securities reported for the period[122](index=122&type=chunk) [Exhibits](index=36&type=section&id=Item%206.%20Exhibits) The report includes various exhibits, such as CEO and CFO certifications and Inline XBRL documents - Exhibits filed include CEO/CFO certifications (**31.1**, **31.2**, **32.1**, **32.2**) and Inline XBRL data (**101**, **104**)[123](index=123&type=chunk)

2Q2023 EARNINGS PRESENTATION AUGUST 8, 2023 1 Cautionary Note Regarding Forward Looking Statements Certain statements included in this presentation may be considered forward-looking. All statements in this presentation that are not historical facts are forward-looking statements. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements, and therefore these state ...

Financial Data and Key Metrics Changes - The company's Q2 2023 revenue was $4.7 million, a 56% increase compared to the same period in 2022, and a 12% sequential increase from the prior quarter [6][36] - Product sales, primarily from smart glasses, reached a record $4.4 million, representing a 53% year-over-year increase [7] - Gross profit for Q2 2023 was $1 million, or 21%, compared to $0.3 million, or 9%, in Q2 2022 [37] - The net loss for Q2 2023 was $9.4 million, or $0.14 per share, compared to a net loss of $10 million, or $0.16 per share, in the same period last year [39] Business Line Data and Key Metrics Changes - The smart glasses segment is driving growth, with significant contributions from the M400 product line [36][75] - OEM revenue recognized during Q2 was $0.3 million, related to optical components and waveguides [7] - Engineering services revenue increased to $0.3 million in Q2 2023 from $0.1 million in Q2 2022 [37] Market Data and Key Metrics Changes - The smart glasses industry is experiencing growth across various sectors, including warehousing, logistics, healthcare, and remote support [8][9] - The company is expanding its global sales channels, focusing on solution selling and partnerships with value-added channel partners [9][10] Company Strategy and Development Direction - The company is positioning itself for growth in AI-enabled smart glasses, which are expected to enhance human capabilities across multiple applications [10][11] - A new waveguide mega factory is set to open, aimed at increasing production capacity and reducing costs [14][27] - The company is focusing on ODM/OEM models for consumer products, avoiding direct retail competition [67] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about achieving continued record revenues for the full year, driven by strong demand and expanding engagements [7][8] - The company anticipates a shift towards third-party channel partners, which may slow the growth of sales and marketing costs [44] - Management expects to see continued growth in the second half of 2023, with a strong pipeline of business [54][56] Other Important Information - The company has a patent portfolio of 329 patents, a 50% increase over the last 24 months [24] - The new waveguide production facility is designed to support advanced technologies and increase manufacturing capacity [27][28] Q&A Session Summary Question: What market verticals are driving growth in Smart Glasses? - Management noted significant growth in the medical community, warehousing, and remote support sectors, with many companies moving from proof of concepts to actual rollouts [47] Question: What metrics should be monitored for OEM projects? - Management indicated that the new facility could produce over 1 million waveguides annually, with potential high-margin revenue from defense-related projects [50] Question: Will there be continuous sequential growth through the second half of the year? - Management expressed confidence in continuous growth, supported by a strong pipeline of business [54] Question: What is the expected revenue mix for 2024 and 2025? - Management expects enterprise sales to dominate, with OEM business growing significantly as new contracts are finalized [63] Question: How does the company plan to approach the consumer market? - The company plans to focus on ODM/OEM relationships, providing key components and solutions without competing directly in retail [67] Question: What are the normalized gross margin expectations? - Management aims for gross margins close to 40%, with engineering services expected to be more profitable than product sales [70]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2023 OR ☐ 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 or other jurisdiction of incorporation or organizat ...