VUZI

EX-99.1

2 tm2623396d1_ex99-1.htm

EXHIBIT 99.1

Exhibit 99.1

Press Release

Vuzix Reports Second Quarter 2026 Results

ROCHESTER,

N.Y., August 13, 2026 - Vuzix® Corporation (NASDAQ: VUZI), (“Vuzix” or, the “Company”), a leading supplier of AI-powered smart glasses, waveguides and Augmented Reality (AR) technologies, today reported its second quarter results for the three months ended June 30, 2026.

“Our branded enterprise smart glasses business continues to generate revenue, customer insight and market credibility, while opening new doors for Vuzix in the smart glasses ecosystem as an OEM smart glasses, waveguides and display systems provider,” said Paul Travers, President and Chief Executive Officer of Vuzix. “We delivered our initial next-generation Ultralite Pro glasses to Amazon for live commercial testing, expanded their M400 deployments across its fulfillment centers, moved our Collins Aerospace program into initial production deployments, delivered initial waveguide-based systems to a leading global automaker, and received initial and follow-on orders from Augmex for enterprise deployments. We continued to make further investments in our waveguide plant and manufacturing equipment to improve throughput, reduce development cycle times, and enable one production line to support development while another supports volume production, positioning Vuzix to execute an increasing number of simultaneous ODM/OEM, defense and waveguide programs.”

The following table compares condensed elements of the Company’s unaudited summarized Consolidated Statements of Operations data for the three months ended June 30, 2026 and 2025, respectively:

For Three Months Ended June 30

($000s except per share amounts)

2026 2025

Sales:

Sales of Products $884 $1,045

Sales of Engineering Services 229 250

Total Sales 1,113 1,296

Total Cost of Sales 1,759 2,057

Gross Profit (Loss) (645) (761)

Operating Expenses:

Research and Development 3,098 2,571

Selling and Marketing 1,210 1,353

General and Administrative 2,682 2,757

Depreciation and Amortization 118 413

Loss from Operations (7,754) (7,855)

Total Other Income (Expense) 125 189

Net Loss (7,629) (7,666)

Loss per Common Share $(0.09) $(0.10)

Second Quarter 2026 Financial Results

For the three months ended June 30, 2026, total revenues decreased by 14% to $1.1 million versus $1.3 million for the comparable period in 2025. Product sales were $0.9 million versus $1.0 million, a decrease of 15%. Engineering services and OEM product sales were $0.2 million versus $0.3 million, a decrease of 8%.

There was an overall gross loss of $0.6 million for the three months ended June 30, 2026 as compared to a gross loss of $0.8 million for the comparable 2025 period, a 15% overall improvement.

Research and Development expense was $3.1 million for the three months ended June 30, 2026 versus $2.6 million for the comparable 2025 period, an increase of 20%. This increase was largely due to increased external development costs for new products and higher cash salary and benefits related expenses due to headcount increases.

Selling and Marketing expense was $1.2 million for the three months ended June 30, 2026 versus $1.4 million for the comparable 2025 period, a decrease of 11%. The decrease was largely due to a decrease in non-cash stock-based compensation expense.

General and Administrative expense for the three months ended June 30, 2026 was $2.7 million versus $2.8 million for the comparable 2025 period, a decrease of 3%.

For the second quarter ended June 30, 2026, the net loss attributable to common shareholders was $7.7 million or $0.09 per share as compared to a loss of $7.7 million or $0.10 per share for the second quarter of 2025.

Net cash used in operating activities was $6.6 million for the second quarter of 2026 versus $4.8 million for the comparable 2025 period. As of June 30, 2026, the Company had $17.3 million in cash and no current or long-term debt obligations.

Management Outlook

“The smart glasses industry is entering a period of dynamic evolution as advances in AI and platform ecosystems support the transformation of the industry and ease application development for customers’ specialized needs. Usable and deployable applications that can be integrated into existing customer IT environments with relative ease have long been a limiting factor in the enterprise smart glasses market,” said Mr. Travers. “Fortune 500 companies are defining their AI and smart glasses strategies and have begun taking next steps to execute against their operational needs. AI can automate and improve many tasks, but skilled tradespeople, technicians and frontline workers operating in the physical world are not going away. At the same time the pull from end customers across our enterprise and ODM/OEM business areas for AI based smart glasses continue to gain momentum. Vuzix intends to continue investing in its waveguide innovation and furthering strategic relationships to better posit

EX-99.1

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EXHIBIT 99.1

Exhibit 99.1

Press Release

Vuzix Reports First Quarter 2026 Results

ROCHESTER, N.Y.,

May 14, 2026 - Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of AI-powered smart glasses, waveguides and Augmented Reality (AR) technologies, today reported its first quarter results for the three months ended March 31, 2026.

“Q1 2026

marked an important step in Vuzix’ transition toward a broader technology and solutions model,” said Paul Travers, President and Chief Executive Officer of Vuzix. “Our branded enterprise smart glasses business continues to generate revenue, customer insight and market credibility, while our growing focus on OEM smart glasses solutions, waveguides and display systems is expanding the role Vuzix can play across the smart glasses ecosystem. During the quarter, we continued expanding our plant floor manufacturing capacity to better support the increasing number of OEM, defense, and waveguide development programs now moving through the Company. These ongoing upgrades are designed to improve throughput, reduce development cycle times, minimize manufacturing changeovers, and allow Vuzix to manage multiple advanced programs simultaneously as a broader set of opportunities move toward production.”

The following table compares condensed elements of the Company’s unaudited summarized Consolidated Statements of Operations data for the three months ended March 31, 2026 and 2025, respectively:

For Three Months Ended March 31

($000s except per share amounts)

2026 2025

Sales:

Sales of Products $1,042 $1,324

Sales of Engineering Services 349 257

Total Sales 1,391 1,581

Total Cost of Sales 1,769 1,846

Gross Loss (378) (265)

Operating Expenses:

Research and Development 3,028 2,606

Selling and Marketing 1,551 1,537

General and Administrative 2,134 3,961

Depreciation and Amortization 115 405

Loss from Operations (7,206) (8,774)

Total Other Income 135 137

Net Loss (7,071) (8,637)

Preferred Stock Dividends (38) -

Loss Attributable to Common Shareholders $(7,108) $(8,637)

Loss per Share $(0.09) $(0.11)

First Quarter 2026 Financial Results

For the three months ended March 31, 2026, total revenues decreased by 12% to $1.4 million versus $1.6 million for the comparable period in 2025. The decrease in total revenues was due to lower product sales and specifically reduced unit sales of M400 smart glasses. Engineering services revenues for the three months ended March 31, 2026 was relatively flat at $0.3 million versus the prior year’s comparable quarter.

There was an overall gross loss of $0.4 million for the three months ended March 31, 2026 as compared to a gross loss of $0.3 million for the comparable 2025 period. The increased gross loss was primarily due to lower total sales as compared to the comparable 2025 period.

Research and Development expense was $3.0 million for the three months ended March 31, 2026 versus $2.6 million for the comparable 2025 period, an increase of approximately 16%. This increase was largely due to higher wage costs due to headcount increases and higher depreciation expense related to new manufacturing equipment currently being used primarily for R&D purposes.

Selling and Marketing expense was relatively flat at approximately $1.5 million for the three months ended March 31, 2026 and 2025.

General and Administrative expense for the three months ended March 31, 2025 was $2.1 million versus $4.0 million for the comparable 2025 period, a decrease of approximately 46%. This decrease was largely due to a $1.7 million decline in non-cash stock-based compensation expense.

For the first quarter ended March 31, 2026, the net loss attributable to common shareholders was $7.1 million or $0.09 per share as compared to a loss of $8.6 million or $0.11 per share for the first quarter of 2025.

The cash net flows used in operating activities was $5.6M for the first quarter of 2026 versus $3.5M for the comparable 2025 period.

Management Outlook

“As we move through 2026, our focus remains on building a broader and more diversified business across ODM/OEM custom smart glasses programs, defense and government agency initiatives, waveguide development and display system relationships,” said Mr. Travers. “We believe defense and security-related opportunities are becoming an increasingly important part of the strategic landscape for Vuzix, where our U.S.-based waveguide design and manufacturing capabilities can be a meaningful differentiator. Our branded products will continue to play an important role by supporting customer engagement, validating use cases and enabling broader ecosystem relationships. At the same time, advances in hardware, AI and platform ecosystems continue to support the evolution of the smart glasses market, and Vuzix intends to continue investing in waveguide innovation and strategic relationships positioned to capitalize on these opportunities.”

Conference Call Information

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported) March 12, 2026

VUZIX CORPORATION

(Exact name of registrant as specified in its charter)

Delaware

(State or other jurisdiction of incorporation)

001-35955 04-3392453

(Commission File Number) (IRS Employer Identification No.)

25 Hendrix Road, Suite A

West Henrietta, New York 14586

(Address of principal executive offices)(Zipcode)

(585) 359-5900

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class:

Trading Symbol(s)

Name of each exchange on which registered:

Common Stock, par value $0.001

VUZI

Nasdaq Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02 Results of Operations and Financial Condition.

On March 12, 2026, Vuzix Corporation (the “Company”) issued a press release announcing the Company’s financial results for the period ended December 31, 2025. The press release is attached hereto as Exhibit 99.1.

In accordance with General Instruction B.2 of Form 8-K, the information in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

99.1 Press Release

104 Cover Page Interactive Data File (formatted as Inline XBRL)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: March 13, 2026

VUZIX CORPORATION

By: /s/ Grant Russell

Grant Russell

Chief Financial Officer