2018 Q4 Form 10-Q Financial Statement
#000114420418058336 Filed on November 08, 2018
Income Statement
Concept | 2018 Q4 | 2018 Q3 | 2017 Q3 |
---|---|---|---|
Revenue | $1.979M | $1.923M | $1.405M |
YoY Change | 23.92% | 36.87% | 240894.85% |
Cost Of Revenue | $1.680M | $1.302M | $1.497M |
YoY Change | -11.58% | -13.0% | 82.77% |
Gross Profit | $300.0K | $621.0K | -$92.00K |
YoY Change | -198.68% | -775.0% | 38718.57% |
Gross Profit Margin | 15.16% | 32.29% | -6.55% |
Selling, General & Admin | $2.170M | $2.633M | $2.521M |
YoY Change | -25.94% | 4.42% | 19.26% |
% of Gross Profit | 723.33% | 423.98% | |
Research & Development | $3.220M | $2.468M | $1.506M |
YoY Change | 38.2% | 63.87% | -30.84% |
% of Gross Profit | 1073.33% | 397.5% | |
Depreciation & Amortization | $540.0K | $460.0K | $320.0K |
YoY Change | 100.0% | 43.75% | 18.52% |
% of Gross Profit | 180.0% | 74.07% | |
Operating Expenses | $5.910M | $5.464M | $5.430M |
YoY Change | 7.07% | 0.61% | 26.52% |
Operating Profit | -$5.610M | -$4.843M | -$5.522M |
YoY Change | -3.67% | -12.31% | 16.88% |
Interest Expense | $60.00K | $2.937K | $12.59K |
YoY Change | -200.0% | -76.68% | -62.94% |
% of Operating Profit | |||
Other Income/Expense, Net | -$10.00K | $45.19K | $20.25K |
YoY Change | -200.0% | 123.15% | -106.52% |
Pretax Income | -$5.560M | -$4.798M | -$5.502M |
YoY Change | -5.44% | -12.8% | 9.26% |
Income Tax | $0.00 | $0.00 | $0.00 |
% Of Pretax Income | |||
Net Earnings | -$5.564M | -$4.798M | -$5.502M |
YoY Change | -5.36% | -12.8% | 109153.38% |
Net Earnings / Revenue | -281.15% | -249.51% | -391.6% |
Basic Earnings Per Share | |||
Diluted Earnings Per Share | -$201.5K | -$174.5K | -$257.4K |
COMMON SHARES | |||
Basic Shares Outstanding | 27.59M shares | 27.43M shares | |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2018 Q4 | 2018 Q3 | 2017 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $17.30M | $23.50M | $8.700M |
YoY Change | 16.11% | 170.11% | 47.46% |
Cash & Equivalents | $17.26M | $23.47M | $8.677M |
Short-Term Investments | |||
Other Short-Term Assets | $2.100M | $2.000M | $900.0K |
YoY Change | 110.0% | 122.22% | -10.0% |
Inventory | $7.282M | $6.803M | $2.800M |
Prepaid Expenses | |||
Receivables | $772.3K | $1.048M | $1.200M |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $27.38M | $33.34M | $13.60M |
YoY Change | 28.91% | 145.13% | 22.52% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $4.292M | $4.075M | $3.900M |
YoY Change | 4.05% | 4.49% | 27.02% |
Goodwill | |||
YoY Change | |||
Intangibles | $1.165M | $1.070M | |
YoY Change | 43.1% | ||
Long-Term Investments | $300.0K | $300.0K | |
YoY Change | |||
Other Assets | $259.2K | $469.3K | |
YoY Change | |||
Total Long-Term Assets | $7.751M | $5.839M | $4.900M |
YoY Change | 38.63% | 19.17% | 26.66% |
TOTAL ASSETS | |||
Total Short-Term Assets | $27.38M | $33.34M | $13.60M |
Total Long-Term Assets | $7.751M | $5.839M | $4.900M |
Total Assets | $35.13M | $39.18M | $18.50M |
YoY Change | 30.93% | 111.77% | 23.59% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $2.668M | $1.796M | $1.800M |
YoY Change | -28.39% | -0.22% | 17.68% |
Accrued Expenses | $1.614M | $1.243M | $1.200M |
YoY Change | 16.14% | 3.55% | 13.93% |
Deferred Revenue | $152.4K | $316.5K | |
YoY Change | 107.4% | ||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $0.00 | ||
YoY Change | -100.0% | ||
Total Short-Term Liabilities | $4.677M | $3.582M | $3.300M |
YoY Change | -14.25% | 8.55% | -24.21% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $0.00 | ||
YoY Change | -100.0% | ||
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | -100.0% | |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $4.677M | $3.582M | $3.300M |
Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
Total Liabilities | $4.677M | $3.582M | $3.300M |
YoY Change | -14.25% | 8.55% | -29.53% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$118.3M | -$112.7M | |
YoY Change | 22.59% | ||
Common Stock | $27.59K | $27.56K | |
YoY Change | 13.66% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $30.46M | $35.60M | $15.20M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $35.13M | $39.18M | $18.50M |
YoY Change | 30.93% | 111.77% | 23.59% |
Cashflow Statement
Concept | 2018 Q4 | 2018 Q3 | 2017 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$5.564M | -$4.798M | -$5.502M |
YoY Change | -5.36% | -12.8% | 109153.38% |
Depreciation, Depletion And Amortization | $540.0K | $460.0K | $320.0K |
YoY Change | 100.0% | 43.75% | 18.52% |
Cash From Operating Activities | -$4.610M | -$5.180M | -$4.540M |
YoY Change | 5.25% | 14.1% | 24.38% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$1.850M | -$500.0K | -$820.0K |
YoY Change | 83.17% | -39.02% | 7.89% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | ||
YoY Change | |||
Cash From Investing Activities | -$1.600M | -$500.0K | -$820.0K |
YoY Change | 58.42% | -39.02% | 7.89% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $7.978M | ||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 0.000 | 0.000 | 7.920M |
YoY Change | -100.0% | -100.0% | 37.26% |
NET CHANGE | |||
Cash From Operating Activities | -4.610M | -5.180M | -4.540M |
Cash From Investing Activities | -1.600M | -500.0K | -820.0K |
Cash From Financing Activities | 0.000 | 0.000 | 7.920M |
Net Change In Cash | -6.210M | -5.680M | 2.560M |
YoY Change | -200.16% | -321.88% | 88.24% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$4.610M | -$5.180M | -$4.540M |
Capital Expenditures | -$1.850M | -$500.0K | -$820.0K |
Free Cash Flow | -$2.760M | -$4.680M | -$3.720M |
YoY Change | -18.1% | 25.81% | 28.72% |
Facts In Submission
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GrossProfit
|
620920 | USD |
CY2017Q3 | us-gaap |
Gross Profit
GrossProfit
|
-92001 | USD |
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
4374202 | USD | |
CY2018Q3 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
2468449 | USD |
CY2017Q3 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
1506307 | USD |
us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
4048029 | USD | |
us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
2739978 | USD | |
CY2018Q3 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
966294 | USD |
CY2017Q3 | us-gaap |
Selling And Marketing Expense
SellingAndMarketingExpense
|
908797 | USD |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
5579500 | USD | |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
4155960 | USD | |
CY2018Q3 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
1666596 | USD |
CY2017Q3 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
1612542 | USD |
CY2018Q3 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
377724 | USD |
CY2017Q3 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
251366 | USD |
us-gaap |
Operating Expenses
OperatingExpenses
|
17717027 | USD | |
us-gaap |
Operating Expenses
OperatingExpenses
|
13155797 | USD | |
CY2018Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
5463870 | USD |
CY2017Q3 | us-gaap |
Operating Expenses
OperatingExpenses
|
5430494 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-16248810 | USD | |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-13528559 | USD | |
us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
111075 | USD | |
us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
45800 | USD | |
CY2018Q3 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
71089 | USD |
CY2017Q3 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
12956 | USD |
us-gaap |
Taxes Other
TaxesOther
|
47667 | USD | |
us-gaap |
Taxes Other
TaxesOther
|
37884 | USD | |
CY2018Q3 | us-gaap |
Taxes Other
TaxesOther
|
17809 | USD |
CY2017Q3 | us-gaap |
Taxes Other
TaxesOther
|
15734 | USD |
us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-36615 | USD | |
us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-30299 | USD | |
CY2018Q3 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-26963 | USD |
CY2017Q3 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-5246 | USD |
us-gaap |
Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
|
-13873 | USD | |
us-gaap |
Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
|
50598 | USD | |
CY2018Q3 | us-gaap |
Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
|
21814 | USD |
us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
0 | USD | |
us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
175260 | USD | |
us-gaap |
Interest Expense
InterestExpense
|
19128 | USD | |
us-gaap |
Interest Expense
InterestExpense
|
77849 | USD | |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-63044 | USD | |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-225479 | USD | |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-16311854 | USD | |
CY2017Q3 | us-gaap |
Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
|
41454 | USD |
CY2018Q3 | us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
0 | USD |
CY2017Q3 | us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
0 | USD |
CY2018Q3 | us-gaap |
Interest Expense
InterestExpense
|
2937 | USD |
CY2017Q3 | us-gaap |
Interest Expense
InterestExpense
|
12592 | USD |
CY2018Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
45194 | USD |
CY2017Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
20253 | USD |
CY2018Q3 | us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
0 | USD |
CY2017Q3 | us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
-585 | USD |
us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
-56836 | USD | |
us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
-585 | USD | |
us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-13754038 | USD | |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | USD | |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | USD | |
us-gaap |
Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
|
1351147 | USD | |
us-gaap |
Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
|
1273029 | USD | |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-17663001 | USD | |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-15027067 | USD | |
CY2018Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-4797756 | USD |
CY2017Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-5502242 | USD |
CY2018Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | USD |
CY2017Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | USD |
CY2018Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-4797756 | USD |
CY2017Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-5502242 | USD |
CY2018Q3 | us-gaap |
Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
|
462034 | USD |
CY2017Q3 | us-gaap |
Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
|
435321 | USD |
CY2018Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-5259790 | USD |
CY2017Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-5937563 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-16311854 | USD | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-13754038 | USD | |
us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
946335 | USD | |
us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
734175 | USD | |
us-gaap |
Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
|
75000 | USD | |
us-gaap |
Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
|
214838 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1473383 | USD | |
us-gaap |
Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
|
50598 | USD | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
73487 | USD | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
367170 | USD | |
vuzi |
Increasedecrease In Accrued Revenue
IncreasedecreaseInAccruedRevenue
|
-497784 | USD | |
vuzi |
Increasedecrease In Accrued Revenue
IncreasedecreaseInAccruedRevenue
|
687001 | USD | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
2950276 | USD | |
us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
242998 | USD | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
1342855 | USD | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-159351 | USD | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
912102 | USD | |
us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
-2573 | USD | |
us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P2Y8M12D | ||
CY2018Q3 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
291000 | USD |
CY2017Q3 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
425000 | USD |
CY2018Q3 | us-gaap |
Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
|
442185 | USD |
vuzi |
Increase Decrease In Unearned Revenue
IncreaseDecreaseInUnearnedRevenue
|
88945 | USD | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-285980 | USD | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-1718578 | USD | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
734478 | USD | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-66371 | USD | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
253398 | USD | |
vuzi |
Increase Decrease In Unearned Revenue
IncreaseDecreaseInUnearnedRevenue
|
-392242 | USD | |
us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
26779 | USD | |
us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
-5626 | USD | |
us-gaap |
Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
|
-327469 | USD | |
us-gaap |
Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
|
-240110 | USD | |
us-gaap |
Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
|
39687 | USD | |
us-gaap |
Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
|
77537 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-17934510 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-12091984 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
886713 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
1197452 | USD | |
us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
323347 | USD | |
us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
155284 | USD | |
us-gaap |
Payments To Develop Software
PaymentsToDevelopSoftware
|
87500 | USD | |
us-gaap |
Payments To Develop Software
PaymentsToDevelopSoftware
|
329204 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-1547560 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-1681940 | USD | |
us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
39375 | USD | |
us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
0 | USD | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
30000000 | USD | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
8567500 | USD | |
us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
1975000 | USD | |
us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
650179 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
28064375 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
7917321 | USD | |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
8582305 | USD | |
us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-5856603 | USD | |
CY2016Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
14533944 | USD |
CY2017Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
8677341 | USD |
us-gaap |
Interest Paid Net
InterestPaidNet
|
104105 | USD | |
us-gaap |
Interest Paid Net
InterestPaidNet
|
310 | USD | |
us-gaap |
Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
|
0 | USD | |
us-gaap |
Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
|
1861283 | USD | |
vuzi |
Cumulative Revenue Adjustment
CumulativeRevenueAdjustment
|
81724 | USD | |
vuzi |
Cumulative Revenue Adjustment
CumulativeRevenueAdjustment
|
0 | USD | |
CY2017Q4 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
|
38100 | shares |
CY2018Q3 | us-gaap |
Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
|
6200210 | USD |
CY2017Q4 | us-gaap |
Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
|
4849063 | USD |
CY2017Q4 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
1184912 | shares |
vuzi |
Class Of Warrant Or Right Exercised In Period
ClassOfWarrantOrRightExercisedInPeriod
|
113850 | shares | |
vuzi |
Class Of Warrant Or Right Grants In Period
ClassOfWarrantOrRightGrantsInPeriod
|
1200000 | shares | |
vuzi |
Class Of Warrant Or Right Expired In Period
ClassOfWarrantOrRightExpiredInPeriod
|
8000 | shares | |
CY2018Q3 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
2263062 | shares |
vuzi |
Class Of Warrant Or Right Outstanding Weighted Average Remaining Contractual Terms
ClassOfWarrantOrRightOutstandingWeightedAverageRemainingContractualTerms
|
P1Y4M28D | ||
invest |
Investment Warrants Exercise Price
InvestmentWarrantsExercisePrice
|
8.53 | ||
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P7Y | ||
CY2017 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P7Y7M6D | |
CY2018Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
924309 | shares |
CY2018Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
4.53 | |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P6Y1M6D | ||
CY2018Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
|
465554 | shares |
vuzi |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageExercisePrice
|
5.72 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms
|
P8Y9M18D | ||
CY2018Q3 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
2410000 | USD |
CY2018Q3 | us-gaap |
Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
|
382702 | USD |
CY2018Q3 | us-gaap |
Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
|
7632 | USD |
CY2018Q3 | us-gaap |
Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
|
8904 | USD |
CY2018Q3 | us-gaap |
Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
|
951969 | USD |
CY2018Q3 | us-gaap |
Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
|
110546 | USD |
us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
349168 | USD | |
us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
344227 | USD | |
CY2018Q3 | us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
117372 | USD |
CY2017Q3 | us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
115718 | USD |
vuzi |
Increase Decrease In Manufacturing Vendors Prepayments
IncreaseDecreaseInManufacturingVendorsPrepayments
|
358997 | USD | |
vuzi |
Increase Decrease In Manufacturing Vendors Prepayments
IncreaseDecreaseInManufacturingVendorsPrepayments
|
-26644 | USD | |
CY2018Q3 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
|
0 | shares |
CY2018Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
6.88 | |
CY2018Q3 | vuzi |
Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Nonvested In Period Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedInPeriodFairValue
|
310000 | USD |
CY2018Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.19 | |
CY2017Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.28 | |
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.65 | ||
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.73 | ||
CY2018Q3 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
27504626 | shares |
CY2017Q3 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
21366712 | shares |
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
27046913 | shares | |
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
20515363 | shares | |
us-gaap |
Basis Of Accounting
BasisOfAccounting
|
<div style="background: white; margin: 0px 0px 0px 0in; font-family: "times new roman", times, serif; font-size: 10pt;"><div style="font-weight:bold;display:inline;"><div style="font-size: 10pt; font-family: "times new roman", times, serif; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Note 1 – Basis of Presentation</div></div></div><div style="background: none; margin: 0px 0px 0px 34.55pt; font-family: "times new roman", times, serif; font-size: 10pt;"><div style="background: none;;font-weight:bold;display:inline;"><div style="font-size: 10pt; text-decoration: none; font-family: "times new roman", times, serif; color: rgb(0, 0, 0); background: none; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div><div style="margin: 0px 0px 0px 0in; text-indent: 0.5in; font-family: "times new roman", times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: "times new roman", times, serif; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The accompanying unaudited condensed consolidated financial statements of Vuzix Corporation (“the Company") have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Regulation S-X of the Securities and Exchange Commission (the “SEC”). </div><div style="font-size: 10pt; font-family: "times new roman", times, serif; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Accordingly, the unaudited condensed consolidated financial statements do not include all information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Certain re-classifications have been made to prior periods to conform with current reporting. The results of the Company’s operations for the nine months ended September 30, 2018 are not necessarily indicative of the results of the Company’s operations for the full fiscal year or any other period.</div></div><div style="margin: 0px 0px 0px 0in; text-indent: 0.5in; font-family: "times new roman", times, serif; font-size: 10pt; background: none;"><div style="font-size: 10pt; text-decoration: none; font-family: "times new roman", times, serif; color: rgb(0, 0, 0); background: none; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="margin: 0px 0px 0px 0in; text-indent: 0.5in; font-family: "times new roman", times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: "times new roman", times, serif; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The accompanying condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto of the Company as of December 31, 2017, as reported in the Company’s Annual Report </div>on Form 10-K filed with the SEC on March 16, 2018.</div><div style="margin: 0px 0px 0px 0in; text-indent: 0.5in; font-family: "times new roman", times, serif; font-size: 10pt; background: none;"><div style="font-size: 10pt; text-decoration: none; font-family: "times new roman", times, serif; color: rgb(0, 0, 0); background: none; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="background: white; margin: 0px 0px 0px 0in; text-indent: 0.5in; font-family: "times new roman", times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: "times new roman", times, serif; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">For the nine months ended September 30, 2018, Toshiba Japan represented 67% of </div>the Company’s<div style="font-size: 10pt; font-family: "times new roman", times, serif; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"> engineering revenues and 27% of </div>the Company’s <div style="font-size: 10pt; font-family: "times new roman", times, serif; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">total revenues as compared to approximately 98% and 24% in the comparable 2017 period. As of September 30, 2018 and 2017, Toshiba Japan accounted for 1% and 0% of </div>the Company’s <div style="font-size: 10pt; font-family: "times new roman", times, serif; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">accounts </div> receivables and 0% and 59% of the Company’s accrued <div style="font-size: 10pt; font-family: "times new roman", times, serif; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"> project revenue, respectively.</div></div><div style="margin: 0px 0px 0px 0in; text-indent: 0.5in; font-family: "times new roman", times, serif; font-size: 10pt; background: none;"><div style="font-size: 10pt; text-decoration: none; font-family: "times new roman", times, serif; color: rgb(0, 0, 0); background: none; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="background: white; margin: 0px 0px 0px 0in; text-indent: 0.5in; font-family: "times new roman", times, serif; font-size: 10pt;"><div style="font-size: 10pt; font-family: "times new roman", times, serif; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">For the nine months ended September 30, 2018, AMA SA represented 14% of </div>the Company’s <div style="font-size: 10pt; font-family: "times new roman", times, serif; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">total revenues as compared to 8% in the comparable 2017 period. As of September 30, 2018 and 2017, AMA SA accounted for 0% and 6% of </div>the Company’s <div style="font-size: 10pt; font-family: "times new roman", times, serif; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">accounts receivables, respectively.</div></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | ||
us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
0 | USD | |
us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
-56836 | USD | |
us-gaap |
Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
|
250000 | USD | |
vuzi |
Unamortized On Senior Convertible Debt Attributed To Embedded Conversion Price Adjustment Option
UnamortizedOnSeniorConvertibleDebtAttributedToEmbeddedConversionPriceAdjustmentOption
|
166800 | USD | |
vuzi |
Accrued Stock Based Compensation Expense
AccruedStockBasedCompensationExpense
|
313129 | USD | |
vuzi |
Accrued Stock Based Compensation Expense
AccruedStockBasedCompensationExpense
|
0 | USD | |
CY2018Q3 | us-gaap |
Cost Method Investments Original Cost
CostMethodInvestmentsOriginalCost
|
250000 | USD |
CY2017Q4 | us-gaap |
Cost Method Investments Original Cost
CostMethodInvestmentsOriginalCost
|
0 | USD |
CY2018Q2 | vuzi |
Cost Method Investment Ownership Percentage
CostMethodInvestmentOwnershipPercentage
|
0.01 | pure |
CY2018Q2 | vuzi |
Cost Method Investment Additional Ownership Percentage
CostMethodInvestmentAdditionalOwnershipPercentage
|
0.04 | pure |
vuzi |
Fair Value Measurement With Unobservable Inputs Reclassification Of Warrant Exercises To Additional Paid In Capital
FairValueMeasurementWithUnobservableInputsReclassificationOfWarrantExercisesToAdditionalPaidInCapital
|
-166800 | USD | |
us-gaap |
Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
|
100000 | shares | |
CY2018Q3 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
6.10 | |
us-gaap |
Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
|
610000 | USD | |
vuzi |
Aggregate Fair Market Value Of Sock Awards
AggregateFairMarketValueOfSockAwards
|
122000 | USD | |
vuzi |
Common Stock Awards Compensation Expense
CommonStockAwardsCompensationExpense
|
216744 | USD | |
vuzi |
Common Stock Awards Compensation Expense
CommonStockAwardsCompensationExpense
|
83750 | USD | |
us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
-585 | USD | |
us-gaap |
Inventory Write Down
InventoryWriteDown
|
-211416 | USD | |
us-gaap |
Inventory Write Down
InventoryWriteDown
|
1151482 | USD | |
us-gaap |
Increase Decrease In Due From Officers And Stockholders Current
IncreaseDecreaseInDueFromOfficersAndStockholdersCurrent
|
0 | USD | |
us-gaap |
Increase Decrease In Due From Officers And Stockholders Current
IncreaseDecreaseInDueFromOfficersAndStockholdersCurrent
|
61000 | USD | |
vuzi |
Unamortized On Senior Convertible Debt Attributed To Embedded Conversion Price Adjustment Option
UnamortizedOnSeniorConvertibleDebtAttributedToEmbeddedConversionPriceAdjustmentOption
|
0 | USD | |
us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
100000 | USD | |
vuzi |
Onetime Compensation Expense
OnetimeCompensationExpense
|
384000 | USD | |
us-gaap |
Dividends Preferred Stock
DividendsPreferredStock
|
0 | USD | |
CY2017 | us-gaap |
Dividends Preferred Stock
DividendsPreferredStock
|
0 | USD |
us-gaap |
Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
|
0 | USD | |
us-gaap |
Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
|
166800 | USD | |
CY2018Q3 | vuzi |
Gain Loss On Inventory Revaluation And Product Discontinuance
GainLossOnInventoryRevaluationAndProductDiscontinuance
|
211416 | USD |
CY2017Q3 | vuzi |
Gain Loss On Inventory Revaluation And Product Discontinuance
GainLossOnInventoryRevaluationAndProductDiscontinuance
|
-1151482 | USD |
vuzi |
Gain Loss On Inventory Revaluation And Product Discontinuance
GainLossOnInventoryRevaluationAndProductDiscontinuance
|
211416 | USD | |
vuzi |
Gain Loss On Inventory Revaluation And Product Discontinuance
GainLossOnInventoryRevaluationAndProductDiscontinuance
|
-1151482 | USD | |
CY2015Q1 | us-gaap |
Conversion Of Stock Description
ConversionOfStockDescription
|
Each share of Series A Preferred Stock is convertible, at the option of the Series A holder, into 100 shares of the Company’s common stock (determined by dividing the Series A Original Issue Price of $500 by the Series A Conversion Price). The Series A Conversion Price is $5.00, subject to adjustment in the event of stock splits, dividends or other combinations. | |
CY2018Q3 | us-gaap |
Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
|
196223 | USD |
CY2017Q3 | us-gaap |
Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
|
0 | USD |
us-gaap |
Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
|
196223 | USD | |
us-gaap |
Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
|
0 | USD | |
vuzi |
Reclassification Of Unamortized Stock Compensation Expense Included In Prepaid Expenses
ReclassificationOfUnamortizedStockCompensationExpenseIncludedInPrepaidExpenses
|
740000 | USD | |
vuzi |
Reclassification Of Unamortized Stock Compensation Expense Included In Prepaid Expenses
ReclassificationOfUnamortizedStockCompensationExpenseIncludedInPrepaidExpenses
|
301250 | USD | |
vuzi |
Aggregate Fair Market Value Of Sock Awards1
AggregateFairMarketValueOfSockAwards1
|
488000 | USD | |
CY2018Q2 | us-gaap |
Cost Method Investments Original Cost
CostMethodInvestmentsOriginalCost
|
250000 | USD |
us-gaap |
Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
|
80000000 | USD | |
dei |
Document Type
DocumentType
|
10-Q | ||
dei |
Amendment Flag
AmendmentFlag
|
false | ||
dei |
Document Period End Date
DocumentPeriodEndDate
|
2018-09-30 | ||
dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2018 | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q3 | ||
dei |
Entity Registrant Name
EntityRegistrantName
|
Vuzix Corp | ||
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001463972 | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
dei |
Entity Filer Category
EntityFilerCategory
|
Accelerated Filer | ||
dei |
Trading Symbol
TradingSymbol
|
VUZI | ||
CY2018Q4 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
27587502 | shares |
dei |
Entity Emerging Growth Company
EntityEmergingGrowthCompany
|
false | ||
dei |
Entity Small Business
EntitySmallBusiness
|
false |