Vuzix(US:VUZI)2025-11-14 21:32Financial Performance - Vuzix reported total revenues of $1.2 million for Q3 2025, a decrease of 16% compared to $1.4 million in Q3 2024[8] - The company achieved a gross loss of $0.4 million in Q3 2025, compared to a gross loss of $0.3 million in Q3 2024, attributed to lower revenues not covering fixed manufacturing overheads[9] - The net loss for Q3 2025 was $7.4 million, or $0.09 per share, compared to a net loss of $9.2 million, or $0.14 per share in Q3 2024[13] Revenue Breakdown - Sales of smart glasses products decreased by 9%, primarily due to lower sales of the M400 smart glasses, while engineering services revenues fell by 33% year-over-year[8] Expenses - Research and Development expenses increased by approximately 26% to $2.9 million in Q3 2025, driven by higher external development costs for new products[10] - Selling and Marketing expenses decreased by approximately 35% to $1.1 million in Q3 2025, primarily due to reduced bad debt expense and recovery of previously written-off bad debt[11] - General and Administrative expenses were down approximately 41% to $2.6 million in Q3 2025, largely due to a reduction in non-cash stock-based compensation[12] - Total operating expenses decreased by 22% year-over-year, enhancing financial efficiency[5] Cash Position and Future Outlook - Vuzix ended Q3 2025 with $22.6 million in cash and cash equivalents, and a working capital position of $24.3 million[14] - The company expects robust growth in Q4 2025 across product revenue and engineering services, driven by progress on OEM programs and fulfilling a backlog for a leading global online retailer[15]