Vuzix’s overall look remains unchanged for FY23

“Our overall outlook for the remainder of 2023 remains unchanged and filled with enthusiasm. For the second-half of 2023, we have a strong book of business with identified opportunities, representing large deals and cornerstone customers on the enterprise and OEM side of our business that we expect to convert over the course of the current calendar year. We also see substantial opportunities on the OEM/engineering services side of our business related to new programs for defense, consumer and enterprise. As a result, we expect to continue to see strength in our overall revenues for the balance of 2023 fueled by stronger sales of core smart glasses, and engineering services and OEM components that we expect will confirm record revenues for all of calendar 2023,” said Paul Travers, President and CEO. “Although we are less than halfway through Q3, we are currently expecting another strong quarter that should result in robust year-over-year growth in smart glasses products and solution sales in Q3. Our OEM business, which includes engineering services and waveguide and display engine sales, continues to gain momentum with new programs expected to kick-off in Q3, that should positively contribute to our top-line in Q3 and OEM program order book. In support of our growing OEM waveguide business opportunities, Vuzix highly anticipates the upcoming opening and commissioning of our new waveguide plant, which will be dedicated to the volume production of enhanced waveguides and will allow us to address both Vuzix’ and our OEM customers’ growing needs,” concluded Travers.