$VUZI
Vuzix Corp

2021 Q3 Form 10-Q Financial Statement

#000155837021010958 Filed on August 09, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q2 2020 Q2
Revenue $3.019M $2.917M $3.037M
YoY Change 8.64% -3.95% 38.93%
Cost Of Revenue $2.435M $2.337M $2.241M
YoY Change 0.19% 4.29% 10.18%
Gross Profit $583.0K $579.0K $796.0K
YoY Change 67.53% -27.26% 423.68%
Gross Profit Margin 19.31% 19.85% 26.21%
Selling, General & Admin $4.702M $6.087M $2.597M
YoY Change 82.85% 134.42% -1.12%
% of Gross Profit 806.46% 1051.38% 326.23%
Research & Development $3.270M $2.701M $1.796M
YoY Change 74.48% 50.35% -9.6%
% of Gross Profit 560.94% 466.45% 225.66%
Depreciation & Amortization $494.4K $559.3K $700.0K
YoY Change -27.3% -20.1% 11.11%
% of Gross Profit 84.8% 96.6% 87.94%
Operating Expenses $8.414M $9.321M $5.034M
YoY Change 65.1% 85.16% -3.59%
Operating Profit -$7.830M -$8.741M -$4.238M
YoY Change 64.91% 106.27% -16.4%
Interest Expense -$10.16K -$25.39K $10.00K
YoY Change -353.9% -50.0%
% of Operating Profit
Other Income/Expense, Net -$115.7K -$38.18K -$792.00
YoY Change 819.16% 4720.2% -105.88%
Pretax Income -$7.946M -$8.779M -$4.239M
YoY Change 66.91% 107.13% -16.16%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$10.49M -$9.245M -$4.239M
YoY Change 120.27% 118.09% -16.16%
Net Earnings / Revenue -347.37% -316.94% -139.58%
Basic Earnings Per Share -$0.17 -$0.15 -$0.13
Diluted Earnings Per Share -$0.13 -$0.14 -$0.13
COMMON SHARES
Basic Shares Outstanding 63.58M 63.07M
Diluted Shares Outstanding 63.52M

Balance Sheet

Concept 2021 Q3 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $128.7M $137.6M $13.20M
YoY Change 417.05% 942.46% 288.24%
Cash & Equivalents $128.7M $137.6M $13.23M
Short-Term Investments
Other Short-Term Assets $4.302M $4.447M $2.000M
YoY Change 168.89% 122.35% 53.85%
Inventory $9.880M $7.884M $6.256M
Prepaid Expenses
Receivables $1.059M $1.099M $1.021M
Other Receivables $0.00 $0.00 $200.0K
Total Short-Term Assets $144.0M $151.0M $22.92M
YoY Change 320.8% 558.87% 59.19%
LONG-TERM ASSETS
Property, Plant & Equipment $5.339M $2.902M $3.502M
YoY Change 65.97% -17.13% -33.93%
Goodwill
YoY Change
Intangibles $1.862M $1.678M $1.370M
YoY Change 28.15% 22.45%
Long-Term Investments
YoY Change
Other Assets $1.357M $825.0K $550.0K
YoY Change 108.7% 50.0% 83.33%
Total Long-Term Assets $11.48M $8.674M $8.179M
YoY Change 46.46% 6.05% -4.9%
TOTAL ASSETS
Total Short-Term Assets $144.0M $151.0M $22.92M
Total Long-Term Assets $11.48M $8.674M $8.179M
Total Assets $155.5M $159.7M $31.10M
YoY Change 269.68% 413.5% 35.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.483M $1.425M $832.6K
YoY Change 63.11% 71.15% -47.96%
Accrued Expenses $1.585M $1.058M $762.9K
YoY Change 81.37% 38.69% -36.42%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $684.3K
YoY Change
Total Short-Term Liabilities $3.650M $3.129M $2.814M
YoY Change 12.05% 11.19% -9.22%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $871.6K
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $687.6K $837.3K $1.300M
YoY Change -42.7% -35.59% 550.0%
Total Long-Term Liabilities $687.6K $837.3K $871.6K
YoY Change 12.55% -3.94% 335.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.650M $3.129M $2.814M
Total Long-Term Liabilities $687.6K $837.3K $871.6K
Total Liabilities $4.338M $3.966M $4.968M
YoY Change -14.04% -20.16% 55.25%
SHAREHOLDERS EQUITY
Retained Earnings -$186.1M -$178.1M -$154.3M
YoY Change 16.94% 15.4%
Common Stock $63.63K $63.28K $39.00K
YoY Change 48.96% 62.23%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $151.1M $155.7M $26.13M
YoY Change
Total Liabilities & Shareholders Equity $155.5M $159.7M $31.10M
YoY Change 269.68% 413.5% 35.23%

Cashflow Statement

Concept 2021 Q3 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income -$10.49M -$9.245M -$4.239M
YoY Change 120.27% 118.09% -16.16%
Depreciation, Depletion And Amortization $494.4K $559.3K $700.0K
YoY Change -27.3% -20.1% 11.11%
Cash From Operating Activities -$5.801M -$7.189M -$4.670M
YoY Change 142.71% 53.93% -19.62%
INVESTING ACTIVITIES
Capital Expenditures -$3.102M -$588.8K -$380.0K
YoY Change 496.48% 54.94% -58.7%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$3.102M -$588.8K -$380.0K
YoY Change 496.48% 54.94% -58.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 44.71K 12.66M 12.14M
YoY Change -99.69% 4.3%
NET CHANGE
Cash From Operating Activities -5.801M -7.189M -4.670M
Cash From Investing Activities -3.102M -588.8K -380.0K
Cash From Financing Activities 44.71K 12.66M 12.14M
Net Change In Cash -8.858M 4.885M 7.090M
YoY Change -175.64% -31.1% -205.35%
FREE CASH FLOW
Cash From Operating Activities -$5.801M -$7.189M -$4.670M
Capital Expenditures -$3.102M -$588.8K -$380.0K
Free Cash Flow -$2.699M -$6.600M -$4.290M
YoY Change 44.33% 53.84% -12.27%

Facts In Submission

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CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-8779457
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-4745981
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-15418820
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-10607443
CY2021Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.14
CY2020Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.13
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.26
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.31
CY2021Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
63071061
CY2020Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
36341616
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
58631078
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
34735118
us-gaap Net Income Loss
NetIncomeLoss
-15418820
us-gaap Net Income Loss
NetIncomeLoss
-9600290
us-gaap Depreciation And Amortization
DepreciationAndAmortization
1019090
us-gaap Depreciation And Amortization
DepreciationAndAmortization
1289253
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
120197
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
91664
us-gaap Share Based Compensation
ShareBasedCompensation
5683591
us-gaap Share Based Compensation
ShareBasedCompensation
941933
vuzi Impairment Of Patents And Trademarks
ImpairmentOfPatentsAndTrademarks
58496
vuzi Impairment Of Patents And Trademarks
ImpairmentOfPatentsAndTrademarks
57532
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-83908
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-289567
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
120965
vuzi Increase Decrease In Accrued Project Revenue
IncreaseDecreaseInAccruedProjectRevenue
175005
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1783539
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
548466
vuzi Increase Decrease In Manufacturing Vendor Prepayments
IncreaseDecreaseInManufacturingVendorPrepayments
2565073
vuzi Increase Decrease In Manufacturing Vendor Prepayments
IncreaseDecreaseInManufacturingVendorPrepayments
374791
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
522084
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
7442
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-92188
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-230201
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
75055
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-122971
vuzi Increase Decrease In Deferred Income
IncreaseDecreaseInDeferredIncome
-27453
vuzi Increase Decrease In Deferred Income
IncreaseDecreaseInDeferredIncome
-77247
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-29450
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
5915
vuzi Reclassification Of Unamortized Stock Compensation Expense Included In Prepaid Expenses
ReclassificationOfUnamortizedStockCompensationExpenseIncludedInPrepaidExpenses
223496
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-13108703
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-8871081
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
719164
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
253174
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
214450
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
140863
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
305158
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
250000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1238772
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-644037
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
34705068
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
673759
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
91647850
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
10582309
vuzi Preferred Dividend Settlement Payment
PreferredDividendSettlementPayment
10000000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1144365
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
1555900
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
115882312
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
12138209
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
101534837
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
2623091
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
36069508
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10606091
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
137604345
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
13229182
vuzi Reclassification Of Unamortized Stock Compensation Expense Included In Prepaid Expenses
ReclassificationOfUnamortizedStockCompensationExpenseIncludedInPrepaidExpenses
101517
us-gaap Transfer To Investments
TransferToInvestments
1404750
us-gaap Transfer To Investments
TransferToInvestments
471809
vuzi Amortized Common Stock Expense In Accrued Expenses
AmortizedCommonStockExpenseInAccruedExpenses
117467
vuzi Amortized Common Stock Expense In Accrued Expenses
AmortizedCommonStockExpenseInAccruedExpenses
31118
us-gaap Basis Of Accounting
BasisOfAccounting
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">Note 1 – </b><b style="font-weight:bold;">Basis of Presentation</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The accompanying unaudited 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”). Accordingly, the unaudited 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 may have been made to prior periods to conform with current reporting. The results of the Company’s operations for the three and six months ended June 30, 2021 are not necessarily indicative of the results of the Company’s operations for the full fiscal year or any other period.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The accompanying interim 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, 2020, as reported in the Company’s Annual Report on Form 10-K filed with the SEC on March 15, 2021.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:0pt;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Customer Concentrations</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">For the three months ended June 30, 2021, no one customer represented more than 10% of total product revenue and one customer represented 100% of engineering services revenue. For the three months ended June 30, 2020, no one customer represented more than 10% of total product revenue and two customers represented 100% of engineering services revenue.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">For the six months ended June 30, 2021, no one customer represented more than 10% of total product revenue and two customers represented 100% of engineering services revenue. For the six months ended June 30, 2020, no one customer represented more than 10% of total product revenue and two customers represented 100% of engineering services revenue.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">As of June 30, 2021, two customers represented 13% and 10% of accounts receivable. As of December 31, 2020, two customers represented 21% and 14% of accounts receivable.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:0pt;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Recent Accounting Pronouncements</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-indent:36pt;margin:0pt;">In June 2016, the Financial Accounting Standards Board (the “FASB”) issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326). ASU 2016-13 provides for a new impairment model which requires measurement and recognition of expected credit losses for most financial assets and certain other instruments, including but not limited to accounts receivable. ASU 2016-13 will become effective for the Company on January 1, 2023 and early adoption is permitted. The Company does not anticipate that the adoption of this standard will have a material impact on our consolidated financial statements.</p>
CY2021Q2 us-gaap Revenues
Revenues
2916538
CY2020Q2 us-gaap Revenues
Revenues
3036843
us-gaap Revenues
Revenues
6831927
us-gaap Revenues
Revenues
4568559
vuzi Standard Product Warranty Term
StandardProductWarrantyTerm
P12M
vuzi Standard Product Warranty Term
StandardProductWarrantyTerm
P12M
vuzi Revenue Performance Obligation Percentage
RevenuePerformanceObligationPercentage
1
CY2021Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
0
us-gaap Earnings Per Share Potentially Dilutive Securities
EarningsPerSharePotentiallyDilutiveSecurities
8,584,030
us-gaap Earnings Per Share Potentially Dilutive Securities
EarningsPerSharePotentiallyDilutiveSecurities
14,147,580
CY2021Q2 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
4522059
CY2020Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
5252709
CY2021Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
682050
CY2020Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
1381677
CY2021Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
4173309
CY2020Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
3352057
CY2021Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1493055
CY2020Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
3885619
CY2021Q2 us-gaap Inventory Net
InventoryNet
7884363
CY2020Q4 us-gaap Inventory Net
InventoryNet
6100824
CY2021Q2 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
513222
CY2020Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
582924
CY2021Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
178160
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
187323
CY2021Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
112963
CY2020Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
143898
CY2021Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
253742
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
68888
CY2021Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1058087
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
983033
vuzi Standard Product Warranty Term
StandardProductWarrantyTerm
P12M
CY2020Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
143898
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
230099
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
199164
CY2021Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
112963
CY2021Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2021Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2020Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2021Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
63278096
CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
45645166
CY2021Q1 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
4146342
CY2021Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
20.50
CY2021Q1 vuzi Proceeds From Issuance Or Sale Of Equity Gross
ProceedsFromIssuanceOrSaleOfEquityGross
85000011
CY2021Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
79603872
CY2020Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
7276928
vuzi Class Of Warrant Or Right Exercised In Period
ClassOfWarrantOrRightExercisedInPeriod
7274328
CY2021Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
2600
vuzi Class Of Warrant Or Right Outstanding Weighted Average Remaining Contractual Terms
ClassOfWarrantOrRightOutstandingWeightedAverageRemainingContractualTerms
P0Y6M3D
CY2021Q2 vuzi Class Of Warrant Or Right Weighted Average Exercise Price Of Warrants Or Rights
ClassOfWarrantOrRightWeightedAverageExercisePriceOfWarrantsOrRights
4.10
CY2021Q2 vuzi Class Of Warrant Exercised In Cash Basis
ClassOfWarrantExercisedInCashBasis
33300
CY2021Q2 vuzi Stock Issued During Period Shares Warrant Exercised
StockIssuedDuringPeriodSharesWarrantExercised
33300
CY2020Q2 vuzi Class Of Warrant Exercised In Cash Basis
ClassOfWarrantExercisedInCashBasis
0
vuzi Class Of Warrant Exercised In Cash Basis
ClassOfWarrantExercisedInCashBasis
7274328
vuzi Class Of Warrant Exercised In Cash Basis
ClassOfWarrantExercisedInCashBasis
0
vuzi Stock Issued During Period Shares Warrant Exercised
StockIssuedDuringPeriodSharesWarrantExercised
7274328
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
34705068
CY2021Q2 us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
136530
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y1M6D
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y6M
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
903208
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
4.59
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1894222
vuzi Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageExercisePrice
8.92
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms
P9Y1M6D
CY2021Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
11960874
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y7M6D
CY2021Q2 vuzi Share Based Compensation Exclude Long Term Incentive Plan
ShareBasedCompensationExcludeLongTermIncentivePlan
1012094
CY2020Q2 vuzi Share Based Compensation Exclude Long Term Incentive Plan
ShareBasedCompensationExcludeLongTermIncentivePlan
639358
vuzi Share Based Compensation Exclude Long Term Incentive Plan
ShareBasedCompensationExcludeLongTermIncentivePlan
1468838
vuzi Share Based Compensation Exclude Long Term Incentive Plan
ShareBasedCompensationExcludeLongTermIncentivePlan
941933
vuzi Percentage Of Weightage For Equity Market Capitalization Threshold
PercentageOfWeightageForEquityMarketCapitalizationThreshold
0.50
vuzi Percentage Of Weightage For Last Twelve Months Revenue Target
PercentageOfWeightageForLastTwelveMonthsRevenueTarget
0.35
vuzi Percentage Of Weightage For Last Twelve Months Ebitd Margin Before Non Cash Charges Target
PercentageOfWeightageForLastTwelveMonthsEBITDMarginBeforeNonCashChargesTarget
0.15
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
354258
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
549270
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
536270
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
44689
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1484487
CY2021Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
95211
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
1389276
CY2021Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
164205
CY2020Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
156606
us-gaap Operating Lease Expense
OperatingLeaseExpense
288420
us-gaap Operating Lease Expense
OperatingLeaseExpense
306606
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.045
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y6M

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