Vuzix Corporation (VUZI) Financial Statements (2024 and earlier)

Company Profile

Business Address 25 HENDRIX ROAD
WEST HENRIETTA, NY 14586
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 3663 - Radio and Television Broadcasting and Communications Equipment (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments72,564120,20436,07010,60617,26414,890
Cash and cash equivalents72,564120,20436,07010,60617,26414,890
Receivables3,5592,2421,3891,372772974
Inventory, net of allowances, customer advances and progress billings11,26812,1526,1015,7087,2823,852
Inventory11,26812,1526,1015,7087,2823,852
Other undisclosed current assets3,8502,5521,4961,3882,0651,526
Total current assets:91,241137,15045,05519,07427,38321,243
Noncurrent Assets
Operating lease, right-of-use asset9561,1171,5172,096
Property, plant and equipment3,8795,1902,8374,3284,2924,124
Intangible assets, net (including goodwill)3,8211,9881,5931,2951,165814
Goodwill1,601     
Intangible assets, net (excluding goodwill)2,2201,9881,5931,2951,165814
Other noncurrent assets1,5811,484708350259 
Other undisclosed noncurrent assets30,8341,5377601,3042,035652
Total noncurrent assets:41,07111,3177,4169,3737,7515,591
TOTAL ASSETS:132,313148,46752,47128,44635,13426,833
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities2,8823,5942,6101,9674,3135,101
Taxes payable12011019304
Accounts payable1,2122,0551,5171,0632,6683,726
Accrued liabilities1,6711,4199838861,6141,371
Deferred revenue292841142
Debt    525  
Derivative instruments and hedges, liabilities      153
Deferred revenue and credits108
Customer advances and deposits73
Contract with customer, liability152
Other undisclosed current liabilities12,366534444 212 
Total current liabilities:15,2774,1563,0952,6354,6775,435
Noncurrent Liabilities
Long-term debt and lease obligation:  5831,0731,571  
Liabilities, other than long-term debt305    18
Accounts payable and accrued liabilities      18
Operating lease, liability3055831,0731,571
Other undisclosed noncurrent liabilities  (583)(1,073)   
Total noncurrent liabilities:3055831,0731,571 18
Total liabilities:15,5834,7394,1684,2064,6775,454
Equity
Equity, attributable to parent116,730143,72848,30324,24030,45721,380
Preferred stock   0000
Common stock646446332824
Treasury stock, value(2,006)     
Additional paid in capital362,508346,736210,952168,950148,696117,828
Accumulated deficit(243,836)(203,072)(162,695)(144,743)(118,266)(96,472)
Total equity:116,730143,72848,30324,24030,45721,380
TOTAL LIABILITIES AND EQUITY:132,313148,46752,47128,44635,13426,833

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues11,83613,16511,5816,6718,0945,538
Revenue, net5,538
Cost of revenue(10,353)(10,714)(9,654)(11,079)(6,326)(6,214)
Cost of goods and services sold(799)   211(6,214)
Other undisclosed gross profit      
Gross profit:1,4832,4511,928(4,408)1,768(677)
Operating expenses(43,715)(42,431)(21,055)(22,158)(23,629)(18,678)
Operating loss:(42,232)(39,980)(19,127)(26,566)(21,861)(19,355)
Nonoperating income (expense)1,469(397)1,17590(15)(279)
Investment income, nonoperating1,396544125217879
Loss, foreign currency transaction, before tax(181)(143)(68)(52)(60)(65)
Interest and debt expense   1,306 (19)(88)
Loss from continuing operations before equity method investments, income taxes:(40,764)(40,377)(16,646)(26,476)(21,895)(19,722)
Other undisclosed income (loss) from continuing operations before income taxes   (1,306) 1988
Loss from continuing operations before income taxes:(40,764)(40,377)(17,952)(26,476)(21,876)(19,634)
Income tax expense (benefit) (109)9,90394189141(3,796)
Other undisclosed loss from continuing operations      
Loss from continuing operations:(40,873)(30,475)(17,858)(26,287)(21,735)(23,429)
Loss before gain (loss) on sale of properties:(30,475)(17,858)(26,287)(21,735)(23,429)
Other undisclosed net income (loss)109(9,903)    
Net loss:(40,764)(40,377)(17,858)(26,287)(21,735)(23,429)
Other undisclosed net income (loss) attributable to parent   (94)(189)(141)3,796
Net loss attributable to parent:(40,764)(40,377)(17,952)(26,476)(21,876)(19,634)
Preferred stock dividends and other adjustments   (2,056)(1,932)(1,820)(1,715)
Net loss available to common stockholders, diluted:(40,764)(40,377)(20,008)(28,408)(23,696)(21,348)

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net loss:(40,764)(40,377)(17,858)(26,287)(21,735)(23,429)
Other comprehensive loss (40,764)(40,377)(17,952)(26,476)(21,876)(19,634)
Other undisclosed comprehensive loss      
Comprehensive loss, net of tax, attributable to parent:(81,527)(80,754)(35,810)(52,764)(43,610)(43,063)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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