Product ExpansionThe company continues to expand its portfolio of products, with new launches expected in 2025, and noted it expects at least one major chain or buying group will onboard LUCY products in 2025.
Revenue GrowthFull year 2024 revenue of $1.6M, increased 42.0% y/y and gross margin of 13.1% compared to negative gross margin in 2023 and 2022, reflecting efforts to improve costs.
Strategic PartnershipsLUCY shifted focus to distribution in large optical retail in 2024; the partnership with Windsor Eyes (private), announced in April 2024, kicked off in late-Q2/early-Q3 2024, with 4Q24 revenue growing 172% sequentially.