olivLaw · US equity research
Vuzix Corporation VUZI
Radio & Tv Broadcasting & Communications Equipment · SIC 3663 · Vertical: Radio & Tv Broadcasting & Communications Equipment (SIC 3663)
Vuzix designs and sells AI and AR smart glasses and waveguide optics for enterprise, medical and defense customers, as well as ODM and OEM partners. The company remains loss-making, with a net loss of 32273128 USD in fiscal 2025 and falling quarterly sales, so demand for smart glasses is a key test for the next period.
At the close of 04 Nov 2026, Vuzix Corporation (VUZI) stock was 2.03 USD (+8.56% on the day), with market capitalisation 171.4 m USD, beta 2.84, 52-week range 1.81–5.14 USD. Latest reported quarter (Q2 2026): revenue of 1.1 m USD (−14.1% YoY), net income of -7.6 m USD, diluted EPS -0.09 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 40.7
- weak (30–45)
- Bollinger (20, 2)
- 1.81 – 2.58
- in the lower half of the band · %B 0.28 · band width 35.1%
- SMA 50 / 200
- 2.50 / 2.73
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.16 / -0.15
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −31.9% | −1.1% | −30.8 pp | — |
| 3 months | −20.7% | −0.5% | −20.3 pp | — |
| 6 months | −29.5% | +4.4% | −33.9 pp | — |
| Year to date | −46.3% | +12.3% | −58.6 pp | — |
| 1 year | −34.9% | +13.5% | −48.5 pp | +3.5% |
| 3 years | −42.5% | +76.4% | −118.9 pp | +58.8% |
| 5 years | −83.3% | +63.7% | −146.9 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.4 m | 1.3 m | 1.6 m | 1.3 m | 1.2 m | 2.2 m | 1.4 m | 1.1 m |
| Cost of revenue | 1.6 m | 6.2 m | 1.8 m | 2.1 m | 1.6 m | 1.9 m | 1.8 m | 1.8 m |
| Gross profit | -260.0 k | -5.0 m | -265.1 k | -761.4 k | -411.0 k | 375.0 k | -377.9 k | -645.4 k |
| Research & development | 2.3 m | 2.2 m | 2.6 m | 2.6 m | 2.9 m | 4.5 m | 3.0 m | 3.1 m |
| Operating income | -9.3 m | -13.8 m | -8.8 m | -7.9 m | -7.5 m | -8.4 m | -7.2 m | -7.8 m |
| Depreciation & amortisation | 410.7 k | 425.2 k | 405.0 k | 413.5 k | 424.3 k | 359.8 k | 115.0 k | 118.2 k |
| Pre-tax income | -9.2 m | -13.7 m | -8.6 m | -7.7 m | -7.4 m | -8.6 m | -7.1 m | -7.6 m |
| Net income | -9.2 m | -13.7 m | -8.6 m | -7.7 m | -7.4 m | -8.6 m | -7.1 m | -7.6 m |
| Diluted EPS | -0.14 | -0.16 | -0.11 | -0.10 | -0.09 | -0.12 | -0.09 | -0.09 |
| Operating cash flow | -5.3 m ≈ | -4.0 m | -3.5 m | -4.8 m ≈ | -5.0 m ≈ | -5.6 m | -5.6 m | -6.6 m ≈ |
| Capex | 199.5 k ≈ | 229.9 k | 613.4 k | 727.5 k ≈ | 317.9 k ≈ | 354.6 k | 996.4 k | 217.2 k ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 8.1 m | 6.7 m | 11.6 m | 13.2 m | 11.8 m | 12.1 m | 5.8 m | 6.3 m |
| Revenue YoY | +46.2% | −17.6% | +73.6% | +13.7% | −10.1% | +2.5% | −52.6% | +9.1% |
| Net income | -21.9 m | -26.5 m | -18.0 m | -40.4 m | -40.8 m | -50.1 m | -73.5 m | -32.3 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS | unavailable | -0.94 | -0.53 | -0.66 | -0.64 | -0.79 | -1.08 | -0.42 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | -270.3% | -396.9% | -155.0% | -306.7% | -344.4% | -413.5% | -1,277.9% | -513.9% |
| Free cash flow | -23.9 m | -24.3 m | -14.5 m | -30.8 m | -26.2 m | -31.6 m | -25.1 m | -20.8 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 21.2 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 24.7 m USD
- Total assets
- 40.1 m USD
- Debt / equity
- unavailable
- Current ratio
- 5.56x
- ROE
- -104.1%
- ROA
- -81.2%
- FCF margin
- -331.2%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 11.6 m | 13.2 m | 11.8 m | 12.1 m | 5.8 m | 6.3 m | SEC (XBRL)· 12 Mar 2026verified |
| Cost of revenue | 11.0 m | 11.6 m | 10.4 m | 14.8 m | 11.4 m | 7.3 m | SEC (XBRL)· 12 Mar 2026verified |
| Gross profit | 598.0 k | 1.6 m | 1.5 m | -2.6 m | -5.6 m | -1.1 m | SEC (XBRL)· 12 Mar 2026verified |
| Research & development | 7.6 m | 11.7 m | 12.7 m | 12.3 m | 9.6 m | 12.6 m | SEC (XBRL)· 12 Mar 2026verified |
| Operating income | -19.1 m | -40.0 m | -42.2 m | -52.3 m | -74.0 m | -32.5 m | SEC (XBRL)· 12 Mar 2026verified |
| Depreciation & amortisation | 1.1 m | 988.1 k | 1.8 m | 3.8 m | 3.0 m | 1.6 m | SEC (XBRL)· 12 Mar 2026verified |
| EBITDA | -18.0 m ≈ | -39.0 m ≈ | -40.4 m ≈ | -48.5 m ≈ | -71.0 m ≈ | -30.9 m ≈ | SEC (XBRL)· 12 Mar 2026derived |
| Pre-tax income | -18.0 m | -40.4 m | -40.8 m | -50.1 m | -73.5 m | -32.3 m | SEC (XBRL)· 12 Mar 2026verified |
| Income tax | 0 | — | — | 0 | 0 | 0 | SEC (XBRL)· 12 Mar 2026verified |
| Net income | -18.0 m | -40.4 m | -40.8 m | -50.1 m | -73.5 m | -32.3 m | SEC (XBRL)· 12 Mar 2026verified |
| Diluted EPS | -0.53 | -0.66 | -0.64 | -0.79 | -1.08 | -0.42 | SEC (XBRL)· 12 Mar 2026verified |
| Weighted average diluted shares | 38.1 m | 61.1 m | 63.7 m | 63.4 m | 67.8 m | 77.6 m | SEC (XBRL)· 12 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 36.1 m | 120.2 m | 72.6 m | 26.6 m | 18.2 m | 21.2 m | SEC (XBRL)· 12 Mar 2026verified |
| Receivables | 1.4 m | 2.2 m | 3.6 m | 3.8 m | 1.6 m | 1.6 m | SEC (XBRL)· 12 Mar 2026verified |
| Inventories | 6.1 m | 12.2 m | 11.3 m | 9.0 m | 4.8 m | 2.2 m | SEC (XBRL)· 12 Mar 2026verified |
| Current assets | 45.1 m | 137.2 m | 90.6 m | 41.5 m | 26.7 m | 27.2 m | SEC (XBRL)· 12 Mar 2026verified |
| Property, plant & equipment, net | 2.8 m | 5.2 m | 3.9 m | 8.1 m | 7.6 m | 7.6 m | SEC (XBRL)· 12 Mar 2026verified |
| Goodwill | — | — | 1.6 m | — | — | — | SEC (XBRL)· 01 Mar 2023verified |
| Intangibles (excl. goodwill) | 1.6 m | 2.0 m | 2.2 m | 2.6 m | 3.0 m | 3.4 m | SEC (XBRL)· 12 Mar 2026verified |
| Total assets | 52.5 m | 148.5 m | 131.1 m | 86.1 m | 39.4 m | 40.1 m | SEC (XBRL)· 12 Mar 2026verified |
| Accounts payable | 1.5 m | 2.1 m | 1.2 m | 1.6 m | 538.2 k | 685.0 k | SEC (XBRL)· 12 Mar 2026verified |
| Current liabilities | 3.1 m | 4.2 m | 15.3 m | 5.2 m | 2.1 m | 4.9 m | SEC (XBRL)· 12 Mar 2026verified |
| Total liabilities | 4.2 m | 4.7 m | 15.6 m | 5.4 m | 2.1 m | 5.4 m | SEC (XBRL)· 12 Mar 2026verified |
| Equity | 48.3 m † | 143.7 m † | 115.5 m † | 80.8 m † | 37.3 m † | 24.7 m † | SEC (XBRL)· 12 Mar 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -14.0 m | -27.0 m | -24.5 m | -26.3 m | -23.7 m | -18.8 m | SEC (XBRL)· 12 Mar 2026verified |
| Capex | 496.6 k | 3.8 m | 1.7 m | 5.3 m | 1.4 m | 2.0 m | SEC (XBRL)· 12 Mar 2026verified |
| Free cash flow | -14.5 m ≈ | -30.8 m ≈ | -26.2 m ≈ | -31.6 m ≈ | -25.1 m ≈ | -20.8 m ≈ | SEC (XBRL)· 12 Mar 2026derived |
| Investing cash flow | -1.5 m | -4.9 m | -21.2 m | -19.3 m | -2.9 m | -2.6 m | SEC (XBRL)· 12 Mar 2026verified |
| Financing cash flow | 40.9 m | 116.0 m | -1.9 m | -449.6 k | 18.3 m | 24.4 m | SEC (XBRL)· 12 Mar 2026verified |
| Share repurchases | — | — | 2.0 m | 470.8 k | — | — | SEC (XBRL)· 13 Mar 2025verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
4 indicators that do not apply to the sector.
Valuation
olivLaw classification
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 171.4 m USD
Key indicators
Coverage and freshness
Score by group
72% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used
- Peers: EV/Salesunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| Gross margin · Quality | -17.9% | 0 (on a fixed band) | 15% |
| EBIT margin · Quality | -521.9% | 0 (vs peers) | 12% |
| FCF margin · Quality | -416.1% | 0 (on a fixed band) | 12% |
| Revenue CAGR 3Y · Growth | -19.0% | 0 (on a fixed band) | 24% |
| Revenue growth (YoY) · Growth | 9.1% | 55 (vs peers) | 12% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 5.7x | 100 (on a fixed band) | 9% |
| EV/Sales · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -14.3% | 0 (on a fixed band) | 18% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/2 factors with a value
- Growth18/100 · 2/2 factors with a value
- Quality0/100 · 3/3 factors with a value
- Returns· partialunavailable · 0/1 factors with a value
- Valuation· partial0/100 · 1/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Vuzix Corp (VUZI). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 6.3 m USD in 2025; YoY growth 9.1%; net margin -519.0%; ROE -122.7%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 5.7x
What contradicts it
- Gross margin: -17.9%
- EBIT margin: -521.9%
- FCF margin: -416.1%
- Revenue CAGR 3Y: -19.0%
- FCF yield: -14.3%
Not assessed (insufficient data or a ratio without meaning): Net debt / EBITDA, EV/Sales, Shareholder yield (distributions).
Versus the vertical median
Radio & Tv Broadcasting & Communications Equipment (SIC 3663) · same industry (4-digit SIC) · compared with 20 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| QCOMQualcomm Inc | 185.3 bn | 13.6 | 52.8% | 31.6% | −2.6% | +3% / +34% |
| MSIMotorola Solutions, Inc. | 82.2 bn | 40.0 | 77.2% | 16.5% | +8.0% | +34% / +54% |
| UIUbiquiti Inc. | 34.0 bn | 35.4 | 91.1% | 29.3% | +27.2% | −4% / +400% |
| PLPlanet Labs PBC | 3.3 bn | — | -72.0% | -95.1% | +25.9% | +6% / +421% |
| ONDSOndas Inc. | 3.0 bn | 18.0 | 20.1% | 96.0% | +605.3% | −33% / +381% |
| VISNVistance Networks, Inc. | 1.5 bn | 0.2 | 22,304.0% | 247.7% | +39.7% | −67% / +286% |
| HLITHarmonic Inc. | 1.1 bn | — | -11.7% | -13.7% | −26.2% | +7% / −8% |
| BKSYBlacksky Technology Inc | 686.3 m | — | -44.8% | -61.2% | +4.4% | −5% / +59% |
| UMACUnusual Machines, Inc. | 650.9 m | — | -2.9% | -20.3% | +101.2% | +49% / unavailable |
| GILTGilat Satellite Networks Ltd. | 521.2 m | 20.8 | 5.2% | 4.6% | +47.9% | −39% / +10% |
| AVNWAviat Networks, Inc. | 254.8 m | 104.7 | 1.0% | 0.6% | +1.2% | −10% / −34% |
| BKTIBK Technologies Corp | 252.4 m | 19.7 | 30.6% | 15.0% | +12.5% | +5% / +415% |
| CRNTCeragon Networks Ltd | 176.8 m | — | -1.2% | -0.6% | −14.1% | −2% / +6% |
| VUZIVuzix Corp | 171.4 m | — | -122.7% | -519.0% | +9.1% | −35% / −42% |
| SATLSatellogic Inc. | 87.6 m | — | — | -325.6% | +37.6% | +95% / +140% |
| AIRGAirgain, Inc. | 55.4 m | — | -23.7% | -13.6% | −14.6% | +4% / +76% |
| WATTEnergous Corporation | 45.0 m | — | -32.8% | -76.4% | +633.1% | +30% / −87% |
| CMTLComtech Telecommunications Corp | 37.4 m | — | -50.5% | -14.5% | −17.0% | −59% / −90% |
| KUSTKustom Entertainment, Inc. | 22.6 m | — | -323.8% | -126.5% | +1.7% | −98% / −100% |
| ERICEricsson Lm Telephone Co | — | — | 27.9% | 12.0% | −4.5% | +15% / +126% |
| NOKNokia Corporation | — | — | 3.1% | 3.3% | +3.5% | +36% / +137% |
1- and 3-year price returns: for VUZI from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Vuzix designs and sells AI and AR smart glasses and waveguide optics for enterprise, medical and defense customers, as well as ODM and OEM partners. The company remains loss-making, with a net loss of 32273128 USD in fiscal 2025 1 and falling quarterly sales, so demand for smart glasses is a key test for the next period.
SWOT
Strengths
Weaknesses
- The company reports repeated net losses and a very large accumulated deficit, which makes it reliant on additional financing 1.
- Gross margins are negative, and research and development costs rose in 2026, which deepens operating losses 23.
- Customer orders generally carry no long-term commitments, and revenue can fall quickly if demand shifts 1.
Opportunities
- Expanding waveguide production and programs with automakers, defense customers and ODM partners could bring larger volumes if these projects move into series production 3.
- Enterprise adoption of AI could support demand for smart glasses and logistics solutions 13.
- Reference platform partnerships could let partners launch branded products based on Vuzix technology 1.
Threats
- Large consumer electronics competitors have greater resources and could launch competing products that reduce Vuzix share 1.
- Rapid price declines and conditional access to third-party platforms could reduce margins or delay launches 1.
- If competing displays or other screen technologies become more attractive, the market for Vuzix displays could be limited 1.
Risks
- Persistent net losseshigh
The company has not reached profitability and could need to raise additional capital if sales do not grow enough 1.
- Going concern doubthigh
Management noted that losses and the accumulated deficit raise substantial doubt about the company's ability to continue as a going concern, and cost measures might prove insufficient 1.
- Lack of long-term ordersmedium
Customers can cancel or reduce orders without penalty, which makes revenue hard to forecast 1.
- Dependence on third parties for technologymedium
If partners' technological progress is delayed, some planned products could be postponed or cancelled 1.
- International exposurelow
International operations, including foreign suppliers and contract manufacturers, expose the company to political, economic and public health risks 1.
Investment thesis
What would need to be true (bull case)
- If AI glasses and waveguides gain adoption in enterprise and ODM/OEM programs, the company could turn its technology into a steadier revenue source.
- Pilot programs with large customers and initial deliveries to automakers and defense users could become series contracts, supporting future sales.
- The patent portfolio and optics expertise could provide an advantage over new entrants, especially if the market consolidates.
What would break the thesis
- Repeated net losses and negative gross margins could force the company to issue new equity, diluting existing shareholders.
- Competition from large consumer electronics makers could reduce prices and market share if they launch similar products.
- The lack of long-term orders and falling product sales could keep revenue volatile and below expectations.
What to watch
- Trend in product sales and engineering services revenueQ3 2026
- Move of Collins Aerospace and automaker programs from testing to series production2027
- Results of commercial testing of Ultralite Pro glasses at Amazon2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Vuzix, incorporated in Delaware in 1997, designs, manufactures and markets AI-enabled smart glasses, waveguides and augmented reality display technologies 1. Its products include monocular and binocular models such as the M Series, Blade, Shield and Z100, along with OEM reference platforms Ultralite Pro and Ultralite Audio developed with Quanta Computer 1. The company aims to become a worldwide supplier of waveguides for AI/AR smart glasses, both for its own products and for ODM and OEM partners 1.
Vuzix's strategy combines sales of its own products with engineering services and supply to ODM and OEM partners who integrate its waveguides and display engines into their products 1. In the second quarter of 2026 product sales declined, while engineering services and OEM sales were also lower, and the company reported initial waveguide-based system deliveries to a global automaker and commercial testing of Ultralite Pro glasses at Amazon 23.
Vuzix acquired Moviynt in 2022, a company that developed the Mobilium logistics mobility software platform used with smart glasses in warehouses and manufacturing 1. This software complements the hardware offering and may open opportunities to sell applications and subscriptions to enterprise customers 1.
Market context
According to the company, the smart glasses market is at an early stage with no single dominant player, and enterprise demand is supported by growth in mobile computing, AI adoption and IoT expansion 1. Demand for head-worn displays in enterprise, medical and defense settings depends on these trends 1.
Vuzix notes that the market could accelerate if AI applications become easier to integrate into customers' existing IT environments, but customer orders generally carry no long-term commitments 13. For this reason revenue could fall quickly if customers reduce their orders 1.
Trends
- AI adoption in smart glassestailwind
The company believes AI and AR will shape how digital content is delivered through head-worn displays, which could increase demand for enterprise smart glasses 13.
- Dependence on third-party platforms and technologiesmixed
Vuzix products depend on mobile operating systems and AI ecosystems that are sometimes controlled by competitors, and changes in access or policy could affect launches and margins 1.
- ODM and OEM interest in waveguidestailwind
ODM and OEM partners in consumer and enterprise markets are evaluating Vuzix waveguides for their own projects, and the Ultralite Pro and Audio reference designs are built to be branded by partners 13.
Competitive position
Vuzix competes with large consumer electronics manufacturers that have greater market share, financial resources and larger patent portfolios 1. The smart glasses market is still contested, with no dominant player, which leaves room for specialist optics and waveguide suppliers 1.
Competition could intensify if large technology companies enter the AI glasses market, and Vuzix pricing and margins could come under pressure if rivals offer cheaper or more integrated products 1. The company aims to differentiate through its waveguide technology and manufacturing capacity 1.
- MetaMETA
Named in the risk factors as a competitor in smart glasses and wearable devices, with greater resources than Vuzix 1.
- Samsung Electronics
Consumer electronics maker cited in the risk factors for possible smart glasses products, with larger market share and resources 1.
- Sony
Consumer electronics maker named among the diversified competitors in the head-mounted display market 1.
- AppleAAPL
Named in the risk factors as a possible entrant into wearable display devices, with far greater resources 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report17 Aug 2026Results of operations · Financial statements and exhibits
- Current report14 Aug 2026Material agreement · Financial statements and exhibits
- Quarterly report13 Aug 2026
- Current report17 Jun 2026Shareholder vote
- Current report15 May 2026Results of operations · Financial statements and exhibits
- Quarterly report14 May 2026
- Current report30 Apr 2026Departure or appointment of officers
- Proxy statement28 Apr 2026
- Current report24 Apr 2026Departure or appointment of officers
- Current report13 Mar 2026Results of operations · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Vuzix Corporation · 12 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Vuzix Corporation · 13 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Vuzix Corporation · 17 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.