Vuzix reports Q4 EPS (17c), consensus (15c)

Reports Q4 revenue $2.9M, consensus $3.78M. "In 2022, Vuzix made critical investments in staff, core technology and infrastructure to expand our capabilities and global footprint to meet the demand for our products, components and services," said Paul Travers, CEO. "We made significant advancements in our core technology and our waveguide manufacturing technologies. We also kicked off upgrades and expansion of our waveguide manufacturing capabilities and entered into a lease for additional manufacturing space…2022 as a whole was a challenging year to navigate with supply chain issues, uncertainty caused by Covid, geopolitical tensions and darkening macro-economic forces. Despite these headwinds, there were segments of our business that accelerated, such as our OEM business group, which delivered year-over-year revenue growth of 250% fueled by new customers and follow-on programs from existing customers. During 2022, we also witnessed accelerated smart glasses adoption by key accounts, especially in warehousing and logistics in the form of larger orders to support expansion into additional warehouses and distribution centers. Additionally, in 2022 we continued to expand our global sales channel and strategy within select markets to provide end-to-end smart glasses-based services to end customers".