Financial Data and Key Metrics Changes - For Q4 2025, total revenues were $2.2 million, a 76% increase from $1.3 million in Q4 2024, primarily due to higher unit sales of M400 smart glasses and increased engineering services sales [20] - For the full year 2025, total revenues reached $6.3 million, up 9% from $5.8 million in 2024, with product sales increasing by 4% year-over-year [21] - The overall gross loss for 2025 was $1.1 million, significantly improved from a loss of $5.6 million in 2024, mainly due to lower inventory obsolescence reserves [21] - The net loss attributable to common shareholders for Q4 2025 was $8.7 million or $0.12 per share, compared to a net loss of $13.7 million or $0.16 per share in Q4 2024 [25] - For the full year 2025, the net loss was $32.3 million or $0.42 per share, down from $73.5 million or $1.08 per share in 2024, with a notable impairment loss recorded in 2024 [26] Business Line Data and Key Metrics Changes - Engineering services sales for 2025 were $1.6 million, an increase of 27% from $1.3 million in 2024, reflecting growth in this segment [21] - Research and development expenses rose 31% to $12.6 million in 2025, driven by increased costs related to the new LX1 smart glasses and waveguide products [22] - Sales and marketing costs decreased by 33% to $5.5 million in 2025, primarily due to reductions in bad debt expense and headcount [23] Market Data and Key Metrics Changes - The enterprise markets are becoming more mature and ROI-driven, with customers focusing on solutions that improve workflow efficiency and enhance safety [17] - The defense and security agencies segment is seeing growth in active programs and discussions, with production orders starting to come in [12] Company Strategy and Development Direction - The company is focusing on its OEM products and waveguide technology as key growth engines, aiming to capitalize on opportunities in enterprise, defense, and consumer markets [7][8] - Vuzix plans to be more selective in investing in branded products, with future product activity driven by OEM customer demand [9] - The company aims to strengthen its position in the waveguide market, which is seen as a significant long-term opportunity [15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth of the OEM business and waveguide technology, expecting revenues from these segments to surpass those from branded enterprise products by the end of 2026 [33] - The company anticipates multiple new business partnerships and orders throughout 2026, indicating a positive outlook for revenue growth [35] Other Important Information - Vuzix completed the second and third tranches of Quanta's investment, totaling $20 million, which validates its waveguide roadmap and manufacturing capabilities [14] - The company ended 2025 with a cash position of $21.2 million and no current or long-term debt, indicating improved financial health [26][27] Q&A Session Summary Question: Expectations for 2026 revenue and significant sources - Management expects OEM and waveguide business revenues to climb throughout 2026, potentially surpassing enterprise branded revenues [33] Question: Anticipation of additional orders and announcements in 2026 - Management indicated that multiple announcements regarding orders and partnerships are expected throughout 2026, contributing to new business opportunities [35]

one is on my end which is my my own vision. I know there's a prescription limit right now. I'm a minus eight.I was bummed. I've been asking I've been asking Alex about it that you're head of wearables and um what what do you think possibilities are for that. I know there's chance of doing more.I think the goal for these is obviously to get as many people to wear them as possible. Yeah, we have exactly right. We have our interests are super aligned.We want these to be something that everyone can wear today. ...