Vuzix CEO Stands by AR’s Future, Despite 36% Q1 Revenue Plunge
“Macro conditions” including COVID-19 and the “geopolitical tensions in Europe” sent Q1 revenue at Vuzix plunging 36%, as billing fell “short of expectations,” said CEO Paul Travers on an earnings call Tuesday. “We consider these results to be anomalous and…
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largely associated with timing delays of customer rollouts and the general world market conditions,” he said. The supplier of smart glasses and augmented-reality hardware sees the AR industry “at its early beginnings,” so sales and profits are “difficult to predict month to month and even quarter to quarter,” he said. But global adoption of AR and smart glasses "is gaining momentum and by most accounts unstoppable,” he said.