Vuzix sees Q4 revenue about $2.1M, consensus $3.4M

Total product sales for Q4-2023 rose by 36% over Q3-2023, reflecting continuing commercial demand for Vuzix’ AR smart glasses. Offsetting this improvement was a 72% sequential decline in realized engineering services. CEO Travers further commented, “We have long discussed the lumpiness of smart glasses orders and engineering services. We are very optimistic about Vuzix’ long-term prospects, including our increasing focus on our core technology for OEM and white label programs. The Company currently has the largest OEM engineering services and related products order book in its history and realizing the revenue from it is related to timing on deliveries and hitting certain milestones. The changes announced today are in line with our goal to deliver shareholder value as the AR smart glasses industry grows and we continue to execute on our focused strategy.”