2024 Q1 Form 10-K Financial Statement
#000182912624001847 Filed on March 25, 2024
Income Statement
Concept | 2024 Q1 | 2023 Q4 | 2023 |
---|---|---|---|
Revenue | $383.5K | $615.8K | $1.152M |
YoY Change | 164.61% | 779.64% | 74.67% |
Cost Of Revenue | $376.5K | $795.9K | $1.272M |
YoY Change | 179.67% | 206.12% | 77.61% |
Gross Profit | $6.951K | -$180.2K | -$119.3K |
YoY Change | -32.46% | -9.93% | 111.99% |
Gross Profit Margin | 1.81% | -29.26% | -10.35% |
Selling, General & Admin | $1.770M | $2.195M | $5.934M |
YoY Change | 41.27% | 41.58% | 22.21% |
% of Gross Profit | 25467.43% | ||
Research & Development | $216.3K | $120.8K | $662.2K |
YoY Change | 43.09% | -7.05% | 26.2% |
% of Gross Profit | 3111.8% | ||
Depreciation & Amortization | $21.66K | $19.22K | $61.09K |
YoY Change | 110.14% | 92.2% | 176.43% |
% of Gross Profit | 311.6% | ||
Operating Expenses | $2.022M | $2.315M | $6.736M |
YoY Change | 40.46% | 37.82% | 22.02% |
Operating Profit | -$2.015M | -$2.496M | -$6.856M |
YoY Change | 40.98% | 32.74% | 22.93% |
Interest Expense | $0.00 | $3.036K | |
YoY Change | -97.11% | ||
% of Operating Profit | |||
Other Income/Expense, Net | $43.28K | $101.8K | $192.1K |
YoY Change | -2423.13% | -282.67% | |
Pretax Income | -$1.971M | -$2.394M | -$6.663M |
YoY Change | 37.85% | 27.33% | 17.31% |
Income Tax | $0.00 | ||
% Of Pretax Income | |||
Net Earnings | -$1.971M | -$2.394M | -$6.663M |
YoY Change | 37.78% | 27.33% | 17.28% |
Net Earnings / Revenue | -514.07% | -388.75% | -578.18% |
Basic Earnings Per Share | -$0.15 | -$0.63 | |
Diluted Earnings Per Share | -$0.15 | -$0.18 | -$0.63 |
COMMON SHARES | |||
Basic Shares Outstanding | 12.93M shares | 12.92M shares | |
Diluted Shares Outstanding | 12.95M shares | 10.52M shares |
Balance Sheet
Concept | 2024 Q1 | 2023 Q4 | 2023 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $2.649M | $4.287M | $4.287M |
YoY Change | -23.23% | 19.43% | 19.43% |
Cash & Equivalents | $2.649M | $4.287M | $4.287M |
Short-Term Investments | |||
Other Short-Term Assets | $59.45K | $59.45K | $702.9K |
YoY Change | 64.04% | 64.04% | 56.19% |
Inventory | $858.9K | $533.2K | $533.2K |
Prepaid Expenses | $425.9K | $313.6K | |
Receivables | $52.78K | $93.21K | $93.21K |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $4.111M | $5.617M | $5.617M |
YoY Change | -9.5% | 32.45% | 32.47% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $143.5K | $132.8K | $132.9K |
YoY Change | 4.3% | 10.94% | 10.71% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $118.5K | $72.64K | $72.64K |
YoY Change | 43.21% | -11.17% | -9.2% |
Total Long-Term Assets | $702.2K | $602.0K | $602.0K |
YoY Change | 23.02% | 34.03% | 33.78% |
TOTAL ASSETS | |||
Total Short-Term Assets | $4.111M | $5.617M | $5.617M |
Total Long-Term Assets | $702.2K | $602.0K | $602.0K |
Total Assets | $4.813M | $6.219M | $6.219M |
YoY Change | -5.87% | 32.6% | 32.6% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $841.0K | $582.0K | $582.0K |
YoY Change | 190.0% | 107.85% | 107.85% |
Accrued Expenses | |||
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | -100.0% | |
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $883.5K | $624.5K | $624.5K |
YoY Change | 75.07% | 4.08% | 4.08% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $27.95K | $35.45K | $35.45K |
YoY Change | -53.42% | -49.36% | -49.36% |
Total Long-Term Liabilities | $27.95K | $35.45K | $35.45K |
YoY Change | -53.42% | -49.36% | -49.36% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $883.5K | $624.5K | $624.5K |
Total Long-Term Liabilities | $27.95K | $35.45K | $35.45K |
Total Liabilities | $911.4K | $659.9K | $659.9K |
YoY Change | 62.01% | -0.83% | -1.5% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$18.94M | -$16.97M | |
YoY Change | 61.38% | 64.66% | |
Common Stock | $132.00 | $129.00 | |
YoY Change | 71.43% | 76.71% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $3.902M | $5.559M | $5.559M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $4.813M | $6.219M | $6.219M |
YoY Change | -5.87% | 32.6% | 32.6% |
Cashflow Statement
Concept | 2024 Q1 | 2023 Q4 | 2023 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$1.971M | -$2.394M | -$6.663M |
YoY Change | 37.78% | 27.33% | 17.28% |
Depreciation, Depletion And Amortization | $21.66K | $19.22K | $61.09K |
YoY Change | 110.14% | 92.2% | 176.43% |
Cash From Operating Activities | -$1.467M | -$1.136M | -$5.766M |
YoY Change | 2.82% | -6.89% | 78.83% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $32.30K | -$7.970K | $78.46K |
YoY Change | 14.8% | -113.28% | -35.45% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$11.66K | $2.002M | $52.75K |
YoY Change | |||
Cash From Investing Activities | -$95.54K | $2.010M | -$198.8K |
YoY Change | -30.24% | -3449.88% | -9.64% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -$75.99K | -490.2K | $6.661M |
YoY Change | -105.34% | 444.63% | -4.23% |
NET CHANGE | |||
Cash From Operating Activities | -$1.467M | -1.136M | -$5.766M |
Cash From Investing Activities | -$95.54K | 2.010M | -$198.8K |
Cash From Financing Activities | -$75.99K | -490.2K | $6.661M |
Net Change In Cash | -$1.639M | 383.8K | $696.3K |
YoY Change | 1060.02% | -128.01% | -80.17% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$1.467M | -$1.136M | -$5.766M |
Capital Expenditures | $32.30K | -$7.970K | $78.46K |
Free Cash Flow | -$1.500M | -$1.128M | -$5.845M |
YoY Change | 3.05% | -11.87% | 74.68% |
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CY2022 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-105171 | usd |
CY2023 | us-gaap |
Profit Loss
ProfitLoss
|
-6663428 | usd |
CY2022 | us-gaap |
Profit Loss
ProfitLoss
|
-5681833 | usd |
CY2023 | LUCY |
Weighted Average Number Of Shares Outstanding
WeightedAverageNumberOfSharesOutstanding
|
10515995 | shares |
CY2022 | LUCY |
Weighted Average Number Of Shares Outstanding
WeightedAverageNumberOfSharesOutstanding
|
6528959 | shares |
CY2023 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.63 | |
CY2023 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.63 | |
CY2022 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.87 | |
CY2022 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.87 | |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
4024429 | usd |
CY2023 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
17650 | usd |
CY2023 | LUCY |
Exercises Of Warrants By Stockholders
ExercisesOfWarrantsByStockholders
|
2736450 | usd |
CY2023 | LUCY |
Second Public Offering
SecondPublicOffering
|
4115688 | usd |
CY2023 | LUCY |
Exercises Of Warrants Related To Private Placement Transaction
ExercisesOfWarrantsRelatedToPrivatePlacementTransaction
|
391268 | usd |
CY2023 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
936769 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-6663428 | usd |
CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
5558826 | usd |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
207516 | usd |
CY2022 | LUCY |
Collection Of Stock Subscription Receivables
CollectionOfStockSubscriptionReceivables
|
6684 | usd |
CY2022 | LUCY |
Initial Public Offering
InitialPublicOffering
|
6015918 | usd |
CY2022 | LUCY |
Shares Issued For Conversion Of Related Party Convertible Note
SharesIssuedForConversionOfRelatedPartyConvertibleNote
|
2002280 | usd |
CY2022 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
1473864 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-5681833 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
4024429 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-6663428 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-5681833 | usd |
CY2023 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
61093 | usd |
CY2022 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
22101 | usd |
CY2023 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
24164 | usd |
CY2022 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
10466 | usd |
CY2023 | us-gaap |
Other Noncash Expense
OtherNoncashExpense
|
3036 | usd |
CY2022 | us-gaap |
Other Noncash Expense
OtherNoncashExpense
|
105171 | usd |
CY2023 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
936769 | usd |
CY2022 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1473864 | usd |
CY2023 | LUCY |
Expenses Paid By Parent And Affiliates
ExpensesPaidByParentAndAffiliates
|
299061 | usd |
CY2022 | LUCY |
Expenses Paid By Parent And Affiliates
ExpensesPaidByParentAndAffiliates
|
960362 | usd |
CY2023 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
-14725 | usd |
CY2022 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
116230 | usd |
CY2023 | us-gaap |
Debt Securities Realized Gain Loss
DebtSecuritiesRealizedGainLoss
|
50796 | usd |
CY2023 | us-gaap |
Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
|
-2316 | usd |
CY2023 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
3678 | usd |
CY2022 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
183094 | usd |
CY2023 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
303290 | usd |
CY2022 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
67951 | usd |
CY2023 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
102975 | usd |
CY2022 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
142292 | usd |
CY2023 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
564308 | usd |
CY2022 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-47765 | usd |
CY2022 | us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
-1460 | usd |
CY2023 | LUCY |
Contract Assets And Liabilities
ContractAssetsAndLiabilities
|
-3878 | usd |
CY2022 | LUCY |
Contract Assets And Liabilities
ContractAssetsAndLiabilities
|
22569 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-5766303 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-3224418 | usd |
CY2023 | LUCY |
Purchases Of Debt Securities
PurchasesOfDebtSecurities
|
1949204 | usd |
CY2023 | LUCY |
Proceeds From Redemption Of Debt Securities
ProceedsFromRedemptionOfDebtSecurities
|
-2000000 | usd |
CY2023 | LUCY |
Payment To Acquire Patent Costs
PaymentToAcquirePatentCosts
|
173036 | usd |
CY2022 | LUCY |
Payment To Acquire Patent Costs
PaymentToAcquirePatentCosts
|
60717 | usd |
CY2023 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
78463 | usd |
CY2022 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
121561 | usd |
CY2023 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
1950 | usd |
CY2022 | us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
37673 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-198753 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-219951 | usd |
CY2022 | us-gaap |
Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
|
6127067 | usd |
CY2023 | LUCY |
Proceeds From Second Public Offering
ProceedsFromSecondPublicOffering
|
4115688 | usd |
CY2023 | us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
3127718 | usd |
CY2023 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
17650 | usd |
CY2022 | LUCY |
Collection Of Stock Subscription Receivable
CollectionOfStockSubscriptionReceivable
|
6684 | usd |
CY2022 | us-gaap |
Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
|
1475000 | usd |
CY2023 | us-gaap |
Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
|
109499 | usd |
CY2022 | us-gaap |
Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
|
653000 | usd |
CY2023 | LUCY |
Repayment Of Amounts Due To Tekcapital And Affiliates
RepaymentOfAmountsDueToTekcapitalAndAffiliates
|
490163 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
6661394 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
6955751 | usd |
CY2023 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
696338 | usd |
CY2022 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
3511382 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
3591109 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
79727 | usd |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
4287447 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
3591109 | usd |
CY2023 | LUCY |
Expenses Paid For By Parent Reported As Increase In Due To Parent And Affiliates And Related Party Convertible Debt
ExpensesPaidForByParentReportedAsIncreaseInDueToParentAndAffiliatesAndRelatedPartyConvertibleDebt
|
299061 | usd |
CY2022 | LUCY |
Expenses Paid For By Parent Reported As Increase In Due To Parent And Affiliates And Related Party Convertible Debt
ExpensesPaidForByParentReportedAsIncreaseInDueToParentAndAffiliatesAndRelatedPartyConvertibleDebt
|
960362 | usd |
CY2022 | LUCY |
Writeoff Of Uncollectible Stock Subscription Receivables
WriteoffOfUncollectibleStockSubscriptionReceivables
|
-4542 | usd |
CY2022 | LUCY |
Issuance Of Shares From Conversion Of Related Party Convertible Debt
IssuanceOfSharesFromConversionOfRelatedPartyConvertibleDebt
|
2002280 | usd |
CY2023 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<p id="xdx_801_eus-gaap--NatureOfOperations_z0I8L62kMlz1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>NOTE 1 – <span id="xdx_82C_zlkT44dPoEj2">GENERAL INFORMATION</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Innovative Eyewear, Inc. (the “Company,” “us,” “we,” or “our”) is a corporation organized under the laws of the State of Florida that develops and sells cutting-edge eyeglasses and sunglasses, which are designed to allow our customers to remain connected to their digital lives, while also offering prescription eyewear and sun protection. The Company was founded by Lucyd Ltd., a portfolio company of Tekcapital Plc through Tekcapital Europe, Ltd. (collectively, together with Lucyd Ltd., “Tekcapital and Affiliates”), which owned approximately 40% of our issued and outstanding shares of common stock and was our largest stockholder as of December 31, 2023. Innovative Eyewear licensed the exclusive rights to the Lucyd® brand from Lucyd Ltd., which includes the exclusive use of all of Lucyd’s intellectual property, including our main product, Lucyd Lyte® glasses.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> | |
CY2023 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_842_eus-gaap--UseOfEstimates_zH5jdsro4XT9" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><span id="xdx_86F_zlUvNusBbyXj">Use of Estimates</span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates, particularly given the significant uncertainties associated with the current geopolitical and economic environment.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> | |
CY2023 | LUCY |
Bad Debt Expenses
BadDebtExpenses
|
30275 | usd |
CY2022 | LUCY |
Bad Debt Expenses
BadDebtExpenses
|
116230 | usd |
CY2022Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
92646 | usd |
CY2023 | LUCY |
Bad Debt Expense
BadDebtExpense
|
30275 | usd |
CY2023 | us-gaap |
Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
|
52149 | usd |
CY2023 | us-gaap |
Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
|
45000 | usd |
CY2023Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
25772 | usd |
CY2023Q4 | LUCY |
Inventory Prepayment
InventoryPrepayment
|
323520 | usd |
CY2022Q4 | LUCY |
Inventory Prepayment
InventoryPrepayment
|
197750 | usd |
CY2023 | us-gaap |
Depreciation
Depreciation
|
61093 | usd |
CY2022 | us-gaap |
Depreciation
Depreciation
|
22101 | usd |
CY2023Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
213825 | usd |
CY2022Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
142343 | usd |
CY2023Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
80977 | usd |
CY2022Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
22599 | usd |
CY2023Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
132848 | usd |
CY2022Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
119744 | usd |
CY2023 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p id="xdx_84A_eus-gaap--ConcentrationRiskCreditRisk_z8D9jot0M2Gh" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i><span id="xdx_86A_zSOaHs6U9LBk">Concentrations of Credit Risk</span></i></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash, cash equivalents, and accounts receivable. The Company limits its credit risk with respect to cash by maintaining cash and cash equivalent balances with high quality financial institutions. At times, the Company’s cash balances may exceed federally insured limits. Concentrations of credit risk with respect to accounts receivable are generally considered minimal due to collection history. However, as of December 31, 2023, $<span id="xdx_90C_eus-gaap--AccountsReceivableNetCurrent_c20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember_pp0p0" title="Accounts receivable">77,950</span> or approximately <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_c20230101__20231231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SingleCustomerMember_pdd" title="Concentrations of Credit Risk">50%</span> of the Company’s gross accounts receivable balance was related to a single customer under a long-term instalment arrangement; the Company manages its risk related to this counterparty via other contractual arrangements with such counterparty, and incentivization through stock-based compensation.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p> | |
CY2023 | LUCY |
Revenue Recognized
RevenueRecognized
|
17500 | usd |
CY2023Q4 | LUCY |
Allowance For Sales Returns
AllowanceForSalesReturns
|
25933 | usd |
CY2022Q4 | LUCY |
Allowance For Sales Returns
AllowanceForSalesReturns
|
24897 | usd |
CY2023 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
1389526 | usd |
CY2022 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
1193185 | usd |
CY2023 | us-gaap |
Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
|
50907 | usd |
CY2022 | us-gaap |
Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
|
35149 | usd |
CY2023 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-1440433 | usd |
CY2022 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-1228334 | usd |
CY2023 | us-gaap |
Adjustment For Amortization
AdjustmentForAmortization
|
24164 | usd |
CY2022 | us-gaap |
Adjustment For Amortization
AdjustmentForAmortization
|
10466 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
|
877645 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
|
610530 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Other
DeferredTaxAssetsOther
|
219723 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Other
DeferredTaxAssetsOther
|
122133 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards Foreign
DeferredTaxAssetsOperatingLossCarryforwardsForeign
|
2483530 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards Foreign
DeferredTaxAssetsOperatingLossCarryforwardsForeign
|
1346823 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
|
148177 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
|
81911 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
3729075 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
2161397 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
3729075 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
2161397 | usd |
CY2023Q4 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
11826332 | usd |
CY2023Q4 | LUCY |
State Net Operating Loss Carryforwards
StateNetOperatingLossCarryforwards
|
6515176 | usd |
CY2023Q4 | us-gaap |
Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
|
0 | usd |
CY2022Q4 | us-gaap |
Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
|
0 | usd |
CY2023Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
329232 | usd |
CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
156196 | usd |
CY2023Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
-42803 | usd |
CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
-18639 | usd |
CY2023Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
286429 | usd |
CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
137557 | usd |
CY2023Q4 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
|
30000 | usd |
CY2022Q4 | us-gaap |
Convertible Debt
ConvertibleDebt
|
61356 | usd |
CY2023Q1 | us-gaap |
Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
|
48143 | usd |
CY2023Q4 | LUCY |
Legal Matters Liability
LegalMattersLiability
|
103000 | usd |
CY2023 | LUCY |
Base Term
BaseTerm
|
P10Y | |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
161210 | usd |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
436000 | usd |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
834000 | usd |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
1290000 | usd |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
|
1543000 | usd |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
|
9907000 | usd |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
14171210 | usd |
CY2023Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
15000000 | shares |
CY2022Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
15000000 | shares |
CY2023Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
50000000 | shares |
CY2022Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
50000000 | shares |
CY2023Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2023Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2022Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2022Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2023Q1 | LUCY |
Number Of Warrant Exercised
NumberOfWarrantExercised
|
408600 | shares |
CY2023Q1 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
3.75 | |
CY2023Q1 | us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
1532250 | usd |
CY2023Q4 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
6413080 | shares |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
1800500 | shares |
CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
2.61 | |
CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
2332500 | shares |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
2.61 | |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
2332500 | shares |
CY2022 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P1Y8M4D | |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
2.61 | |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
2332500 | shares |
CY2023 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
0.92 | |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
|
1153000 | shares |
CY2023 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
1.01 | |
CY2023 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
316000 | shares |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
|
2.94 | |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
275000 | shares |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
2.08 | |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
2894500 | shares |
CY2023 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P2Y2M19D | |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
2.39 | |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
1795219 | shares |
CY2023 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P1Y4M24D | |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | pure |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
1.49 | |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
1.84 | |
CY2023Q4 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
721000 | usd |
CY2023 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P1Y1M13D | |
CY2023Q2 | LUCY |
Number Of Common Stock Purchased
NumberOfCommonStockPurchased
|
140000 | shares |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
0 | usd |
CY2023Q4 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
0 | usd |
CY2023 | LUCY |
Number Of Common Stock Purchased
NumberOfCommonStockPurchased
|
9188 | shares |
CY2023 | us-gaap |
Profit Loss
ProfitLoss
|
-6663428 | usd |
CY2022 | us-gaap |
Profit Loss
ProfitLoss
|
-5681833 | usd |
CY2023 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
10515995 | shares |
CY2022 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
6528959 | shares |
CY2023 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.63 | |
CY2022 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.87 |