$VUZI

Vuzix Corp

CIK:0001463972|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Sales:
Total Sales	$ 1,113,498	$ 1,295,709	$ 2,504,813	$ 2,876,650
Cost of Sales:
Cost of Sales - Depreciation and Amortization	73,579	167,349	156,320	344,218
Total Cost of Sales	1,758,909	2,057,079	3,528,144	3,903,138
Gross Loss	(645,411)	(761,370)	(1,023,331)	(1,026,488)
Operating Expenses:
Research and Development	3,097,875	2,570,873	6,126,229	5,176,713
Selling and Marketing	1,209,944	1,352,990	2,760,810	2,890,456
General and Administrative	2,682,330	2,756,588	4,816,272	6,717,572
Depreciation and Amortization	118,245	413,483	233,262	818,494
Total Operating Expenses	7,108,394	7,093,934	13,936,573	15,603,235
Loss From Operations	(7,753,805)	(7,855,304)	(14,959,904)	(16,629,723)
Other Income (Expense):
Investment Income	157,765	135,759	326,167	304,239
Other Taxes	(20,332)	40,772	(36,458)	22,371
Foreign Exchange Gain (Loss)	(12,323)	12,519	(29,824)	(768)
Total Other Income, Net	125,110	189,050	259,885	325,842
Loss Before Provision for Income Taxes	(7,628,695)	(7,666,254)	(14,700,019)	(16,303,881)
Net Loss	(7,628,695)	(7,666,254)	(14,700,019)	(16,303,881)
Preferred Stock Dividends	(37,500)	(3,493)	(75,000)	(3,493)
Loss Attributable to Common Shareholders - Basic	(7,666,195)	(7,669,747)	(14,775,019)	(16,307,374)
Loss Attributable to Common Shareholders - Diluted	$ (7,666,195)	$ (7,669,747)	$ (14,775,019)	$ (16,307,374)
Basic Net Loss per Common Share (in dollars per share)	$ (0.09)	$ (0.1)	$ (0.18)	$ (0.21)
Diluted Net Loss per Common Share (in dollars per share)	$ (0.09)	$ (0.1)	$ (0.18)	$ (0.21)
Weighted-average Shares Outstanding - Basic (in shares)	83,732,630	76,468,186	82,814,749	76,343,911
Weighted-average Shares Outstanding - Diluted (in shares)	83,732,630	76,468,186	82,814,749	76,343,911
Sales of Products
Sales:
Total Sales	$ 884,296	$ 1,045,310	$ 1,926,674	$ 2,369,383
Cost of Sales:
Cost of Sales	1,488,456	1,617,346	2,960,628	3,228,076
Sales of Engineering Services
Sales:
Total Sales	229,202	250,399	578,139	507,267
Cost of Sales:
Cost of Sales	$ 196,874	$ 272,384	$ 411,196	$ 330,844

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025	Dec. 31, 2024
Cash Flows Used In Operating Activities
Net Loss			$ (14,700,019)	$ (16,303,881)
Non-Cash Adjustments
Depreciation and Amortization			979,563	1,409,210
Stock-Based Compensation			1,292,914	3,725,755
(Increase) Decrease in Operating Assets
Accounts Receivable			527,872	394,599
Accrued Revenues in Excess of Billings			36,463	289,833
Other Receivables			283,821
Inventories			430,860	1,506,916
Manufacturing Vendor Prepayments			(86,204)	159,713
Prepaid Expenses and Other Assets			299,558	318,091
Increase (Decrease) in Operating Liabilities
Accounts Payable			760,164	69,017
Accrued Expenses			(2,017,487)	182,567
Unearned Revenue			14,116	(32,874)
Income and Other Taxes Payable			26,548	39,242
Net Cash Flows Used in Operating Activities			(12,151,830)	(8,241,812)	$ (18,789,272)	$ (23,739,372)
Cash Flows Used in Investing Activities
Purchases of Fixed Assets			(1,213,562)	(1,340,873)
Investments in Patents and Trademarks			(323,910)	(241,068)
Investments in Other Equity Assets				(50,000)
Net Cash Flows Used in Investing Activities			(1,537,472)	(1,631,941)
Cash Flows Provided by (Used in) Financing Activities
Proceeds from Sale of Preferred and Common Stock to Quanta				5,000,000
Proceeds from Exercise of Stock Options				51,982
Proceeds from ATM Program, Net			9,914,210	4,089,850
Net Cash Flows Provided by (Used in) Financing Activities			9,836,786	9,141,832
Net Increase (Decrease) in Cash and Cash Equivalents			(3,852,516)	(731,921)
Cash and Cash Equivalents - Beginning of Period			21,150,213	18,186,506	18,186,506
Cash and Cash Equivalents - End of Period	$ 17,297,697	$ 17,454,585	17,297,697	17,454,585	$ 21,150,213	$ 18,186,506
Supplemental Disclosures
Accrued Preferred Dividends included in Accrued Expenses			37,500	3,493
Depreciation and Amortization included in Research and Development Expense			589,981	246,498
Purchases of Fixed Assets included in Accrued Expenses			164,481	937,336
Series B Preferred Stock
Cash Flows Provided by (Used in) Financing Activities
Preferred Dividends Paid	$ (37,500)	$ 0	$ (77,424)	$ 0

CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current Assets
Cash and Cash Equivalents	$ 17,297,697	$ 21,150,213
Accounts Receivable, net of allowance for credit losses of $46,000 at June 30, 2026 and December 31, 2025.	1,099,763	1,627,635
Accrued Revenues in Excess of Billings	497,202	533,665
Other Receivables	95,794	379,615
Inventories, Net	1,757,890	2,188,750
Manufacturing Vendor Prepayments	342,294	256,090
Prepaid Expenses and Other Assets	760,201	1,059,759
Total Current Assets	21,850,841	27,195,727
Long-Term Assets
Fixed Assets, Net	8,256,901	7,626,238
Operating Lease Right-of-Use Assets, Net	741,329	1,003,025
Patents and Trademarks, Net	3,581,529	3,359,066
Technology Licenses, Net	459,438	559,973
Other Assets, Net	300,000	327,778
Total Assets	35,190,038	40,071,807
Current Liabilities
Accounts Payable	1,445,174	685,010
Unearned Revenue	76,477	62,361
Accrued Expenses	1,737,401	3,590,407
Other Taxes Payable	76,061	49,513
Operating Lease Right-of-Use Liabilities	500,911	500,911
Total Current Liabilities	3,836,024	4,888,202
Long-Term Liabilities
Operating Lease Right-of-Use Liabilities	240,418	502,114
Total Liabilities	4,076,442	5,390,316
Mezzanine Equity
Preferred Stock - $0.001 Par Value, 5,000,000 Shares Authorized; 419,959 Shares of Series B Preferred Stock Issued and Outstanding as of June 30, 2026 and December 31, 2025	10,000,000	10,000,000
Stockholders' Equity
Common Stock - $0.001 Par Value, 200,000,000 shares authorized; 84,993,902 shares issued and 84,414,230 shares outstanding as of June 30, 2026 and 81,679,367 shares issued and 81,099,695 shares outstanding as of December 31, 2025	84,994	81,680
Additional Paid-in Capital	438,138,532	426,934,722
Accumulated Deficit	(414,633,429)	(399,858,410)
Treasury Stock, at cost, 579,672 shares as of June 30, 2026 and December 31, 2025	(2,476,501)	(2,476,501)
Total Stockholders' Equity	21,113,596	24,681,491
Total Liabilities, Mezzanine Equity, and Stockholders' Equity	$ 35,190,038	$ 40,071,807