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what it is
Vuzix makes smart glasses and tiny display systems that put digital information in front of your eyes.
how it gets paid
Last year Vuzix made $6M in revenue.
why it's growing
Revenue grew 180.0% last year. $2 million of quarterly revenue matters because a company with a roughly $182 million market cap is still operating on a very small sales base.
what just happened
Vuzix printed just $2M in quarterly revenue, and the bigger story is that losses still overwhelm the sales base.
At a glance
B balance sheet — gets the job done, barely
55/100 earnings predictability — expect surprises
-$1.08 fy2024 eps est
$6M fy2024 rev est
n/a operating margin
xvary composite: 48/100 — below average
What they do
Vuzix makes smart glasses and tiny display systems that put digital information in front of your eyes.
The moat is specialization, not size. Vuzix has 76 employees building smart glasses, waveguides, and near-eye displays, which means your customer is usually buying a custom optical system, not a generic gadget. Head-mounted displays (screens worn on your face) → hands-free computing → so what: if a defense or enterprise customer designs around your optics, switching gets slow and expensive.
How they make money
$6M
annual revenue · their business grew +180.0% last year
total revenue
$6M
+180.0%
The products that matter
AR wearable displays
Smart Glasses
$2.2M in Q4 revenue · +76%
this is the part of the story investors want to believe. Q4 revenue reached $2.2M, up 76% from a year ago, but you still need that momentum to lift the full company above a $6M annual base.
growth headline
optical components & development
Waveguides & Engineering Services
$4.08M annual revenue
this segment represents about two-thirds of current revenue. it also includes a recent six-figure development order from a U.S. defense contractor, which matters when your entire annual revenue is only $6M.
keeps the lights on
Key numbers
n/a
operating margin
Prior margin KPI failed sanity check — verify in filings. Operating margin means profit after running the business. So what: Vuzix lost about $5.18 for every $1 of sales.
$6M
annual revenue
This is the whole revenue base. So what: one decent enterprise order can change the year, for better or worse.
16.7%
gross margin
Gross margin means money left after making the product. So what: there is not much cushion before overhead eats it.
1.9
beta
Beta measures stock volatility versus the market. So what: your ride is about twice as jumpy as the index.
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank 3 — safer than 50% of stocks
- price stability 5 / 100
- long-term debt $1M (0% of capital)
B — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for VUZI right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Vuzix printed just $2M in quarterly revenue, and the bigger story is that losses still overwhelm the sales base.
Quarterly revenue rose 76% vs. prior year and EPS improved to -$0.12 from a deeper loss a year earlier. The problem is scale: gross margin was only 16.7%, which is thin for a company still trying to cover fixed costs.
$2M
revenue
$0.12
eps
16.7%
gross margin
the number that mattered
$2 million of quarterly revenue matters because a company with a roughly $182 million market cap is still operating on a very small sales base.
source: company earnings report, 2026
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What could go wrong
the #1 risk is commercialization that never gets out of the lab.
med
cash burn overwhelms the story
A n/a net margin on $6M of revenue means the company is losing more than $12 for every $1 it sells. That is extreme even by early-stage hardware standards.
If revenue does not scale quickly, financing risk becomes the real operating model.
med
lumpy contracts can swing the whole year
Waveguides and engineering generated $4.08M of annual revenue, and management highlighted a six-figure defense development order. When the base is that small, one delayed customer project can distort the entire revenue line.
You are not underwriting a diversified revenue stream. You are underwriting a handful of wins showing up on time.
med
the stock already prices in a much bigger business
The market cap is about $182M against $6M in annual revenue. That gap only works if adoption inflects from niche orders to repeatable demand.
If the company is still hovering around today's revenue base a year from now, the valuation argument gets much harder to defend.
The combined risk picture is simple: a $182M stock is sitting on a $6M revenue base with a n/a net margin. Vuzix does not need a small improvement. It needs escape velocity.
source: institutional data · regulatory filings · risk analysis
Pay attention to
earnings
next earnings report
Expected March 18, 2026. Current EPS estimate is -$0.09, and the bigger question is whether total revenue starts looking larger than a few million dollars per quarter.
trend
does smart-glasses growth lift the whole company
Q4 smart-glasses revenue grew 76% to $2.2M. That is encouraging. The next step is seeing that momentum pull full-company revenue above the current $6M annual level.
metric
cash burn versus revenue
The cleanest dashboard item is still net margin n/a (verify filings), any improvement would matter. No improvement means the business is still burning faster than it is commercializing.
risk
defense and engineering order timing
A six-figure order sounds small in most stocks. Here it matters. With just $4.08M in waveguides and engineering revenue, project timing can move the story fast.
Analyst rankings
earnings predictability
55 / 100
in human-speak, analysts do not have a clean handle on this business yet. small revenue, evolving product mix, and lumpy orders make forecasts easier to break.
analyst coverage
1 target
thin coverage means less consensus validation and more room for narrative swings. it also means one target at $3.06 should be treated as a data point, not gospel.
source: institutional data
Institutional activity
institutional ownership data for VUZI is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$4
current price
n/a
target midpoint · n/a from current
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