Vuzix Corp’s Revenue Breakdown by Segment (2016-2023)

This statistic highlights Vuzix Corp’ Revenue by Segment, split between Engineering services, and Products, reported on a quarterly basis from Q1 2016 onwards.

Vuzix Corp’ Revenue by Segment

(All figures in millions, except percentages)

The total revenue generated from the segments has followed a specific trend and has been subject to fluctuations in every quarter. The revenue increased by 9.60% on a quarter-on-quarter basis, from $3.02 million in Q3 2021 to $3.31 million in Q4 2021. The year-on-year decline was 21.75%, falling from Q4 2020, where the revenue generated was $4.23 million to Q4 2021, where the revenue generated was $3.31 million.

Vuzix Corp’s total revenue can be further bifurcated into the following segments:

Engineering Services

Vuzix Corp has previously delivered fully integrated wearable display systems to commercial, industrial, and defense customers, including head-mounted displays, human-computer interface devices, near-eye display-related engineering services, and wearable computers. Police, firefighters, EMTs, other first responders, and homeland and border security are examples of possible consumers.

A component of the company’s website dedicated to delivering OEM and engineering services related to waveguides and display technology is available to the public. Waveguides necessitate a display engine designed specifically for the required design. Regardless of size, light coupling, power consumption, or resolution, Vuzix can meet most of these design requirements.

The total revenue generated from this segment has not been following a constant upward trend. The revenue increased from nil in Q3 2021 to $0.19 million in Q4 2021. However, the year-on-year decline was 65.45%, falling massively from Q4 2020, where the revenue generated was $0.55 million to Q4 2021, where the revenue generated was $0.19 million. The contribution to revenue mix also fell from 13% in Q4 2020 to 5.74% in Q4 2021.

Products

The amendment by TDG Acquisition LLC allows Vuzix to pursue opportunities related to its smart glasses and waveguide optics technologies in these expanded market opportunities related to first responders, the US Department of Defense, Security Organizations, and the Military. Vuzix may now cooperate with and offer its waveguide optics and display engines to the world’s largest third-party defense suppliers that want to include Vuzix near-eye display or head-mounted display technology in the goods and solutions they sell to military organizations.

The wearable display products combine micro-display technology with advanced optics to create compact high-resolution display engines that are less than half an inch diagonally when viewed through Smart Glasses and AR glasses, resulting in virtual images that are comparable in size to a computer monitor or a large-screen television. This encompasses representational forms including augmented reality (AR), mixed reality (MR), virtual reality (VR), and extended reality (XR), as well as areas interpolated to all real-and-virtual integrated environments. The solutions provided by Vuzix Corp have been shown to help customers increase their operational efficiency.

The total revenue generated from this segment has been following the same trend as the engineering services segment. The revenue increased by 3.64% on a quarter-on-quarter basis, from $3.02 million in Q3 2021 to $3.13 million in Q4 2021. However, the year-on-year decline was 15.18% when compared to Q4 2020, where the revenue generated was $3.69 million. However, the contribution to the revenue mix increased from 87.23% in Q4 2020 to 94.56% in Q4 2021.

About Vuzix Corporation

Vuzix Corporation develops, manufactures, markets, and sells augmented reality wearable display and computing devices, sometimes known as head-mounted displays, such as Smart Glasses and Augmented Reality (AR) glasses. Wearable display devices are either worn as eyeglasses or attached to a head mount. These gadgets usually have a built-in computer, cameras, and sensors that allow the user to watch, record, and interact with video and digital material, such as computer data, the Internet, enterprise data, social media, or entertainment apps, thereby connecting the metaverse to the real world.

Vuzix Corp’s waveguide optics and display engines provide a number of advantages over existing wearable display technologies, including more contrast, higher power efficiency, less weight, smaller size, and high brightness pictures for outdoor use. Because its solution allows it to produce optics that are fully transparent when off, while also delivering the high brightness required for AR and enterprise Smart Glasses applications, the company’s waveguide optics give it a significant advantage over competitors’ optics, including other waveguides. The common stock of the company goes under the ticker “VUZI” and is listed on the NASDAQ.

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