On the last check Monday, Vuzix Corporation (VUZI) fell -10.20% to $12.32 in after-hours trading. The VUZI stock price ended the last trading day at $13.72, up 1.33%. The price range for VUZI stock was between $13.22 and $14.215. The number of VUZI stock shares traded decreased to 2,518,000, below its average daily volume of 5,098,000 shares over the past 100 days. Within the last five days, VUZI stock has decreased by -7.23%, while in the last month, it has decreased by -18.72%. After announcing quarterly results, VUZI stock plummeted.

VUZI Stock has posted results for which period?

In addition to smart-glasses and augmented reality (AR) products, Vuzix is a leading technology and product provider addressing both the consumer and enterprise markets. VUZI’s products include personal display and wearable computing devices that are designed to provide users with a portable display experience that is high in quality, as well as solutions for mobility, augmented reality, wearable displays, and more.

In the video eyewear field, VUZI holds 210 patents and patent applications, along with numerous intellectual property licensing agreements. As a result of winning several Consumer Electronics Show (CES) awards for innovation between 2005 and 2021, and several awards for wireless technology innovation, VUZI has won several awards for innovation. VUZI, a public company founded in 1997, has offices in Rochester, New York; Oxford, United Kingdom; and Tokyo, Japan.

Vuzix yesterday announced its results for the second quarter of 2021.

Financial Results for Q2 2021:

• Revenues of VUZI decreased 4% during the second quarter of 2021 to $2.9 million as compared with $3.0 million during the second quarter of 2020.
• In 2021, VUZI achieved an overall gross profit of $0.6 million, or 20%, compared with $0.8 million, or 26%, in the same period in 2020.
• In the three months ended June 30, 2021, VUZI had research and development (R&D) expenses of $2.7 million, compared with $1.8 million in the comparable period of 2020, an increase of approximately 50%.
• VUZI’s selling and marketing (S&M) expenses topped $1.3 million for the three months ended June 30, 2021, up from $0.8 million for the comparable 2020 period, an increase of approximately 68%.
• For the three months ended June 30, 2021, VUZI’s General and Administrative (G&A) expense was $4.7 million, compared with $1.8 million for the comparable period in 2020.
• According to VUZI, its operating costs for the three months ended June 30, 2021, jumped by $4.3 million over the same time period in 2020.
• On average, VUZI has a net loss of $8.8 million or $0.14 per share for the three months ended June 30, 2021, compared to a net loss of $4.7 million or $0.13 in the same period in 2020.

VUZI’s liquidity strength:

Following the addition back of non-cash items, cash operating loss at VUZI for the second quarter of 2021 was $4.6 million, compared with a loss of $2.9 million for the same period in 2020. Vuzix (VUZI) had $137.6 million in cash and cash equivalents at the end of June 2021 and $147.9 million in working capital.