Vuzix reported $1.2 million in revenue during the first quarter of 2017, surpassing the $1 million mark for the first time since selling its defense division in 2012.
Vuzix designs, manufactures, and sells head mounted displays (or HMDs) in the form of Augmented Reality (AR) glasses, Virtual Reality (VR) glasses, and Smart Glasses. The West Henrietta NY-based company's Smart Glasses and AR products are focused on the enterprise, industrial, commercial, and medical markets, while its Video Eyewear products are sold in the consumer markets targeting video viewing, gaming, and VR.
Vuzix's Performance Fueled by M300 Smart Glasses
Vuzix's $1.2 million in Q1 '17 revenues represents a 164% increase compared to the first quarter of 2016. The spike in sales was largely experienced in the company's Smart Glasses product line, which accounted for 74% of the company's quarter revenues. The increase in Smart Glasses was primarily the result of the commencement of sales of the M300 Smart Glasses, an ergonomically designed and rugged Android-based wearable computer.
Like many wearable headset manufacturers, Vuzix expects a bright future for its smart glasses product lines, particularly in wearable hands-free manufacturing, field service, and complex task environments where there are significant opportunities for productivity gains and error reduction.
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