Vuzix Corp Stock Research

Market Summary

USD4.06+0.14

Market Closed

3.57%

VUZI Stock Price

VUZI RSI Chart

VUZI Valuation

Market Cap

257.1M

Price/Earnings (Trailing)

-6.31

Price/Sales (Trailing)

21.72

EV/EBITDA

-4.73

Price/Free Cashflow

-9.8

VUZI Price/Sales (Trailing)

VUZI Profitability

Operating Margin

12.53%

EBT Margin

-344.41%

Return on Equity

-34.92%

Return on Assets

-30.81%

Free Cashflow Yield

-10.21%

VUZI Fundamentals

VUZI Revenue

Revenue (TTM)

11.8M

Revenue Y/Y

-12.55%

Revenue Q/Q

-15.43%

VUZI Earnings

Earnings (TTM)

-40.8M

Earnings Y/Y

6.39%

Earnings Q/Q

-13.53%

Price Action

52 Week Range

3.2710.49

(Low)(High)

Last 7 days

1.5%

Last 30 days

-9.6%

Last 90 days

11.2%

Trailing 12 Months

-39.0%

VUZI Financial Health

Current Ratio

5.97

VUZI Investor Care

Buy Backs (1Y)

0.55%

Diluted EPS (TTM)

-0.64

Peers (Alternatives to Vuzix)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
DHI	33.3B	33.7B	6.35%	23.73%	5.86	0.99	16.58%	25.40%
GRMN	18.4B	4.9B	-1.92%	-17.27%	18.88	3.78	-2.46%	-10.04%
PHM	12.8B	16.2B	6.66%	27.56%	4.89	0.79	16.53%	34.48%
MID-CAP
WHR	6.9B	19.7B	-9.42%	-28.13%	-4.52	0.35	-10.28%	-185.19%
MHK	6.8B	11.7B	-11.44%	-29.35%	267.81	0.58	4.79%	-97.56%
BLD	6.1B	5.0B	-2.50%	-1.82%	10.99	1.22	43.67%	71.59%
NWL	4.8B	9.5B	-17.98%	-46.26%	24.42	0.51	-10.67%	-68.33%
SONO	2.5B	1.8B	-1.88%	-29.88%	128.55	1.39	1.43%	-87.25%
HELE	2.1B	2.2B	-20.26%	-54.45%	14.54	0.98	0.90%	-28.74%
SMALL-CAP
IRBT	1.2B	1.2B	3.95%	-35.53%	-4.18	1.01	-24.38%	-1042.07%
GPRO	757.3M	1.1B	-8.47%	-42.21%	26.25	0.69	-5.82%	-92.23%
VUZI	257.1M	11.8M	-9.58%	-39.04%	-6.31	21.72	-10.10%	-0.96%
HEAR	156.1M	248.7M	18.32%	-53.75%	-4.91	0.63	-36.20%	-207.76%
UEIC	118.7M	542.8M	-34.36%	-70.72%	291.68	0.22	-9.78%	-92.32%

Financials for Vuzix

Income Statement (Last 12 Months)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	-3.4%	11,835,632	12,251,632	11,843,583	11,752,363	13,164,701
Cost Of Revenue	10.3%	10,352,756	9,387,624	9,451,834	9,207,030	10,714,088
Gross Profit	-15.6%	1,807,363	2,142,363	1,670,104	1,823,316	2,263,962
Operating Expenses	-1.9%	43,715,397	44,559,496	44,493,699	43,853,598	42,430,952
S&GA Expenses	5.4%	8,078,538	7,668,075	7,340,340	6,838,934	6,118,929
R&D Expenses	-1.6%	12,676,688	12,888,796	12,845,229	12,573,079	11,674,954
EBITDA	-0.2%	-38,974,989	-38,884,903	-37,429,792	-42,933,835	-
EBITDA Margin	-3.8%	-3.29	-3.17	-3.16	-3.65	-
Earnings Before Taxes	1.8%	-40,763,573	-41,497,438	-42,507,987	-41,731,791	-40,377,160
EBT Margin	-1.7%	-3.44	-3.39	-3.37	-3.80	-
Net Income	1.8%	-40,763,668	-41,497,668	-42,508,217	-41,731,549	-40,376,918
Net Income Margin	-1.7%	-3.44	-3.39	-3.37	-3.33	-
Free Cahsflow	16.5%	-26,244,704	-31,426,485	-31,483,652	-31,045,906	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	-4.6%	132	139	146	140	148
Current Assets	-16.3%	91.00	109	117	129	137
Cash Equivalents	-19.7%	73.00	90.00	101	113	120
Inventory	-7.9%	11.00	12.00	12.00	13.00	12.00
Net PPE	-59.3%	4.00	10.00	8.00	5.00	5.00
Liabilities	18.5%	16.00	13.00	14.00	3.00	5.00
Current Liabilities	85.9%	15.00	8.00	8.00	3.00	4.00
Shareholder's Equity	-7.1%	117	126	132	137	144
Retained Earnings	-4.6%	-243	-233	-223	-213	-203
Additional Paid-In Capital	1.0%	363	359	355	351	347
Accumulated Depreciation	4.0%	7.00	6.00	6.00	-	-
Shares Outstanding	-0.7%	63.00	64.00	64.00	64.00	64.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	5.7%	-24.52	-26.01	-24.89	-27.49	-26.98
Share Based Compensation	-4.3%	16.00	16.00	17.00	17.00	17.00
Cashflow From Investing	-73.5%	-21.17	-12.20	-12.02	-4.42	-4.85
Cashflow From Financing	-1099.9%	-1.95	-0.16	-0.12	13.00	116
Buy Backs	-33.3%	0.00	1.00	1.00	-	-

Risks for VUZI

What is the probability of a big loss on VUZI?

100%

Probability that Vuzix stock will be more than 20% underwater in next one year

95.8%

Probability that Vuzix stock will be more than 30% underwater in next one year.

93.8%

Probability that Vuzix stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does VUZI drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Vuzix was unfortunately bought at previous high price.

Drawdowns

Returns for VUZI

Cumulative Returns on VUZI

-0.2%

10-Year Cumulative Returns

-5.0%

7-Year Cumulative Returns

-8.8%

5-Year Cumulative Returns

51.8%

3-Year Cumulative Returns

What are the long-term rolling returns for VUZI?

FIve years rolling returns for Vuzix.

Annualized Returns

Which funds bought or sold VUZI recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-15	B. Riley Wealth Advisors, Inc.	reduced	-1.03	-213,243	349,757	0.01%
2023-03-10	BAILLIE GIFFORD & CO	unchanged	-	-1,637	3,363	-%
2023-03-06	Rockefeller Capital Management L.P.	unchanged	-	-5,000	8,000	-%
2023-02-28	Voya Investment Management LLC	unchanged	-	-48,576	82,424	-%
2023-02-27	Parallax Volatility Advisers, L.P.	new	-	10,949	10,949	-%
2023-02-21	NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	reduced	-88.89	-909	91.00	-%
2023-02-16	HARBOUR INVESTMENTS, INC.	unchanged	-	-18,446	19,554	-%
2023-02-15	JANE STREET GROUP, LLC	new	-	640,833	640,833	-%
2023-02-15	SALEM INVESTMENT COUNSELORS INC	unchanged	-	-726	1,274	-%
2023-02-15	Toroso Investments, LLC	sold off	-100	-516,000	-	-%

Latest Funds Activity

Are funds buying VUZI calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own VUZI

No. of Funds

Vuzix News

Schedule 13G FIlings of Vuzix

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 09, 2023	vanguard group inc	5.03%	3,204,553	SC 13G
Feb 07, 2023	state street corp	5.48%	3,495,529	SC 13G/A
Feb 01, 2023	blackrock inc.	6.3%	4,024,678	SC 13G/A
Feb 10, 2022	state street corp	4.81%	3,062,499	SC 13G/A
Feb 09, 2022	ark investment management llc	11.38%	7,240,700	SC 13G/A
Feb 04, 2022	blackrock inc.	7.1%	4,538,281	SC 13G
Sep 10, 2021	ark investment management llc	11.55%	7,346,922	SC 13G
Jul 12, 2021	state street corp	3.54%	2,235,308	SC 13G/A
Feb 11, 2021	hudson bay capital management lp	3.91%	1,739,727	SC 13G/A
Feb 11, 2021	state street corp	11.32%	4,835,890	SC 13G

VUZI Fair Value

Vuzix fair value in different scenarios

The table shows the Fair Value estimates for Vuzix for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	0.60 -85.22%	0.66 -83.74%	0.84 -79.31%	1.20 -70.44%	1.66 -59.11%
Current Inflation	0.59 -85.47%	0.65 -83.99%	0.80 -80.30%	1.10 -72.91%	1.51 -62.81%
Very High Inflation	0.58 -85.71%	0.63 -84.48%	0.75 -81.53%	1.00 -75.37%	1.32 -67.49%

Historical Vuzix Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Vuzix

View All Filings

Date Filed	Form Type	Document
Mar 16, 2023	4	Insider Trading
Mar 14, 2023	4	Insider Trading
Mar 13, 2023	4	Insider Trading
Mar 06, 2023	S-3	S-3
Mar 03, 2023	8-K	Current Report
Mar 01, 2023	10-K	Annual Report
Feb 10, 2023	SC 13G/A	Major Ownership Report
Feb 09, 2023	SC 13G	Major Ownership Report
Feb 07, 2023	SC 13G/A	Major Ownership Report
Feb 01, 2023	SC 13G/A	Major Ownership Report

Latest Insider Trading transactions for VUZI

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-14	Travers Paul J	bought	9,895	3.8699	2,557	president and ceo
2023-03-13	Travers Paul J	bought	9,958	3.83	2,600	president and ceo
2023-03-10	Jameson Peter Hamilton	bought	9,854	3.79	2,600	chief operating officer
2022-12-14	Rajgopal Raj	bought	26,850	4.0899	6,565	-
2022-12-13	Kay Edward William Jr.	bought	31,125	4.15	7,500	-
2022-12-01	Russell Grant	bought	20,892	4.1784	5,000	cfo and executive vp
2022-11-29	Harned Timothy Heydenreich	bought	12,035	4.0119	3,000	-
2022-11-21	Travers Paul J	bought	19,554	4.44424	4,400	president and ceo
2022-06-15	Arvani Azita	acquired	-	-	17,730	-
2022-06-15	Rajgopal Raj	acquired	-	-	17,730	-

About Vuzix

Paul J. Travers

www.vuzix.com

110

Vuzix Corporation, together with its subsidiaries, designs, manufactures, markets, and sells augmented reality (AR) wearable display and computing devices for consumer and enterprise markets in North America, the Asia-Pacific, Europe, and internationally. It provides M300XL, M400, and M4000 series of smart glasses for enterprise, industrial, commercial, and medical markets; Vuzix Blade smart glasses; waveguide optics and related coupling optics; and Vuzix Shield smart glasses, as well as custom and engineering solutions. The company sells its products through resellers, direct to commercial customers, and via online stores, as well as various Vuzix operated web stores in Europe and Japan. The company was formerly known as Icuiti Corporation and changed its name to Vuzix Corporation in September 2007. Vuzix Corporation was incorporated in 1997 and is headquartered in West Henrietta, New York.

VUZI Income Statement

2022-12-31

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Sales:
Total Sales	$ 11,835,882	$ 13,164,933	$ 11,581,496
Cost of Sales:
Cost of Sales - Depreciation and Amortization	799,317	1,321,467	1,512,979
Total Cost of Sales	10,352,756	11,596,443	10,983,538
Gross Profit	1,483,126	1,568,490	597,958
Operating Expenses:
Research and Development	12,676,688	11,674,954	7,568,074
Selling and Marketing	8,078,538	6,118,929	4,039,772
General and Administrative	21,038,562	22,502,833	6,915,213
Depreciation and Amortization	1,788,584	988,104	1,128,831
Loss on Fixed Asset Disposal	35,350	183,614	0
Impairment of Patents and Trademarks	97,675	80,163	73,532
Total Operating Expenses	43,715,397	41,548,597	19,725,422
Loss From Operations	(42,232,271)	(39,980,107)	(19,127,464)
Other Income (Expense):
Investment Income	1,395,579	53,511	41,120
Income and Other Taxes	(212,997)	(307,368)	(103,833)
Foreign Exchange Loss	(180,589)	(143,196)	(67,895)
Employee Retention Credit Refund	466,705
Gain on Debt Extinguishment, net of Loss on Note Receivable			1,305,900
Total Other Income (Expense), Net	1,468,698	(397,053)	1,175,292
Loss Before Provision for Income Taxes	(40,763,573)	(40,377,160)	(17,952,172)
Provision for Income Taxes
Net Loss	(40,763,573)	(40,377,160)	(17,952,172)
Preferred Stock Dividends - Accrued not Paid			(2,056,150)
Loss Attributable to Common Stockholders	$ (40,763,573)	$ (40,377,160)	$ (20,008,322)
Basic Loss per Common Share	$ (0.64)	$ (0.66)	$ (0.53)
Diluted Loss per Common Share	$ (0.64)	$ (0.66)	$ (0.53)
Weighted-average Shares Outstanding - Basic	63,708,986	61,125,215	38,109,765
Weighted-average Shares Outstanding - Diluted	63,708,986	61,125,215	38,109,765
Sales of Products
Sales:
Total Sales	$ 10,505,763	$ 12,784,600	$ 10,081,209
Cost of Sales:
Cost of Sales	8,737,852	9,709,268	7,914,686
Inventory Reserve for Obsolescence
Cost of Sales:
Cost of Sales	290,405	519,950	1,273,835
Sales of Engineering Services
Sales:
Total Sales	1,330,119	380,333	1,500,287
Cost of Sales:
Cost of Sales	$ 525,182	$ 45,758	$ 282,038

VUZI Balance Sheet

2022-12-31

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Current Assets
Cash and Cash Equivalents	$ 72,563,943	$ 120,203,873
Accounts Receivable	3,558,971	2,242,429
Accrued Revenues in Excess of Billings	269,129
Employee Retention Credit Receivable	466,705
Inventories, Net	11,267,969	12,151,982
Manufacturing Vendor Prepayments	998,671	504,051
Prepaid Expenses and Other Assets	2,115,853	2,047,819
Total Current Assets	91,241,241	137,150,154
Long-Term Assets
Fixed Assets, Net	3,878,505	5,190,438
Operating Lease Right-of-Use Asset	956,165	1,117,022
Patents and Trademarks, Net	2,220,094	1,988,370
Technology Licenses, Net	30,158,689	1,389,936
Intangible Asset, Net	675,313	147,548
Goodwill	1,601,400
Other Assets, Net	1,581,143	1,483,589
Total Assets	132,312,550	148,467,057
Current Liabilities
Accounts Payable	1,211,747	2,054,762
Unearned Revenue	29,064	27,797
Accrued Expenses	1,670,539	1,419,308
Licensing Fees Commitment	11,500,000
Income and Other Taxes Payable	214,997	120,242
Operating Lease Right-of-Use Liability	651,011	534,146
Total Current Liabilities	15,277,358	4,156,255
Long-Term Liabilities
Operating Lease Right-of-Use Liability	305,154	582,876
Total Liabilities	15,582,512	4,739,131
Stockholders' Equity
Common Stock - $0.001 Par Value, 100,000,000 shares authorized; 63,783,779 shares issued and 63,319,107 shares outstanding as of December 31, 2022 and 63,672,268 shares issued and outstanding as of December 31, 2021.	63,783	63,672
Additional Paid-in Capital	362,507,715	346,736,397
Accumulated Deficit	(243,835,716)	(203,072,143)
Treasury Stock, at cost, 464,672 shares as of December 31, 2022 and 0 shares as of December 31, 2021	(2,005,744)
Total Stockholders' Equity	116,730,038	143,727,926
Total Liabilities and Stockholders' Equity	$ 132,312,550	$ 148,467,057