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EMAGIN CORP

emagin.com

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2023 10-Q, filed Aug 10, 2023. Its latest SEC filing is a 15-12G from Oct 30, 2023.

The sections below describe the company as of the FY2022 annual report.

What Did They Do?

Designs and sells OLED-on-silicon microdisplays, virtual-imaging products and related optics to military, commercial and consumer original equipment makers.

How Did They Make Money?

Military contractors and original equipment makers buy displays and other hardware; eMagin invoices when products ship, with payment typically due 30 to 60 days later. It also earns money for research and development work under fixed-price or cost-based contracts, with billing timing set by each contract.

FY2022 revenue

Who Were Their Customers?

Military contractors and original equipment makers buy directly. The OEMs sell products incorporating eMagin’s displays through their own distribution channels, and eMagin also uses distributors in Asia and Korea.

Customers above 10% of revenue, FY2022
of revenue from one customer
FY2021: 29% from one customer

Did Revenues Turn Into Profits?

No. It lost $1.1M in FY2022.

Operating income, FY2022
−10% of revenue
▼ −71% (Loss) vs FY2021 (−$10M, −38%)
Net income, FY2022
−4% of revenue
▼ −79% (Loss) vs FY2021 (−$5.2M, −20%)

How Were They Changing?

Since the FY2022 annual report
Latest quarter: Q2 FY2023, the three months to Jun 30, 2023
Revenue
▼ −31%
vs $7.2M in Q2 FY2022
Net income
▲ +676% (Loss)
vs −$1.4M in Q2 FY2022
  • Oct 18, 2023 Samsung Display completed its acquisition of eMagin After the deal closed, eMagin shares ceased trading.
  • May 17, 2023 Agreed to be acquired by Samsung Display The agreement set an all-cash price for shareholders.

Grew. Revenue grew 16% in 4 years, from $26.2M in FY2018 to $30.5M in FY2022, about 4% a year.

Who Did They Compete With?

Competes with Kopin, Yunnan OLiGHTEK Opto-Electronic Technology, SeeYA Technology, MicroOLED, and Sony Mobile Display

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