Core Insights - Innovative Eyewear Inc. reported a significant revenue increase of 63% year-over-year for the fiscal year 2025, reaching approximately $2.67 million, driven by strong sales of its Lucyd Armor® smart safety glasses and the Reebok® Powered by Lucyd collection [2][9] Financial Performance - Net revenue for 2025 was approximately $2.67 million, an increase of $1.03 million or 63% from 2024 [2] - Gross profit margin improved to 21% in 2025 from 13% in 2024, attributed to lower product sourcing costs despite tariff impacts [3] - Total operating expenses rose to approximately $9.06 million, an increase of $0.92 million or 11% from 2024, mainly due to higher administrative and marketing costs [4] - The net loss for 2025 was approximately $(7.59) million or $(1.90) per share, a slight improvement from $(7.77) million or $(5.19) per share in 2024 [6] Cash and Investments - The company ended 2025 with approximately $6.51 million in cash and cash equivalents, down from $7.52 million at the end of 2024 [7] - Net working capital was $8.39 million at the end of 2025, compared to $8.50 million at the end of 2024 [7] Product Development and Partnerships - The company launched three new variants of the Lucyd Armor smart safety glasses and two new light-adaptive sport smartglass models in the Reebok collection [12] - A partnership was announced with SmartBuyGlasses to expand distribution of Reebok smart eyewear [12] Management Commentary - The CEO expressed satisfaction with the sales growth and improvements in gross profit margins, highlighting plans for continued growth and international expansion [9]