2021 Q4 Form 10-K Financial Statement

#000155837022002641 Filed on March 02, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2021 Q2
Revenue $3.314M $3.019M $2.917M
YoY Change -21.71% 8.64% -3.95%
Cost Of Revenue $3.106M $2.435M $2.337M
YoY Change -12.02% 0.19% 4.29%
Gross Profit $209.0K $583.0K $579.0K
YoY Change -70.27% 67.53% -27.26%
Gross Profit Margin 6.31% 19.31% 19.85%
Selling, General & Admin $12.89M $4.702M $6.087M
YoY Change 315.74% 82.85% 134.42%
% of Gross Profit 6166.54% 806.46% 1051.38%
Research & Development $3.624M $3.270M $2.701M
YoY Change 93.8% 74.48% 50.35%
% of Gross Profit 1733.99% 560.94% 466.45%
Depreciation & Amortization $675.9K $494.4K $559.3K
YoY Change 16.53% -27.3% -20.1%
% of Gross Profit 323.4% 84.8% 96.6%
Operating Expenses $16.93M $8.414M $9.321M
YoY Change 207.25% 65.1% 85.16%
Operating Profit -$16.72M -$7.830M -$8.741M
YoY Change 247.83% 64.91% 106.27%
Interest Expense -$8.450K -$10.16K -$25.39K
YoY Change -71.83% -353.9%
% of Operating Profit
Other Income/Expense, Net -$169.3K -$115.7K -$38.18K
YoY Change 182.22% 819.16% 4720.2%
Pretax Income -$17.01M -$7.946M -$8.779M
YoY Change 373.88% 66.91% 107.13%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$11.49M -$10.49M -$9.245M
YoY Change 220.17% 120.27% 118.09%
Net Earnings / Revenue -346.83% -347.37% -316.94%
Basic Earnings Per Share -$0.17 -$0.17 -$0.15
Diluted Earnings Per Share -$0.13 -$0.13 -$0.14
COMMON SHARES
Basic Shares Outstanding 63.63M 63.58M 63.07M
Diluted Shares Outstanding 63.52M

Balance Sheet

Concept 2021 Q4 2021 Q3 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $120.2M $128.7M $137.6M
YoY Change 232.97% 417.05% 942.46%
Cash & Equivalents $120.2M $128.7M $137.6M
Short-Term Investments
Other Short-Term Assets $2.552M $4.302M $4.447M
YoY Change 70.12% 168.89% 122.35%
Inventory $12.15M $9.880M $7.884M
Prepaid Expenses
Receivables $2.242M $1.059M $1.099M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $137.2M $144.0M $151.0M
YoY Change 204.4% 320.8% 558.87%
LONG-TERM ASSETS
Property, Plant & Equipment $5.190M $5.339M $2.902M
YoY Change 82.93% 65.97% -17.13%
Goodwill
YoY Change
Intangibles $1.988M $1.862M $1.678M
YoY Change 24.82% 28.15% 22.45%
Long-Term Investments
YoY Change
Other Assets $1.484M $1.357M $825.0K
YoY Change 109.45% 108.7% 50.0%
Total Long-Term Assets $11.32M $11.48M $8.674M
YoY Change 52.6% 46.46% 6.05%
TOTAL ASSETS
Total Short-Term Assets $137.2M $144.0M $151.0M
Total Long-Term Assets $11.32M $11.48M $8.674M
Total Assets $148.5M $155.5M $159.7M
YoY Change 182.95% 269.68% 413.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.055M $1.483M $1.425M
YoY Change 35.44% 63.11% 71.15%
Accrued Expenses $1.419M $1.585M $1.058M
YoY Change 44.38% 81.37% 38.69%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.156M $3.650M $3.129M
YoY Change 34.27% 12.05% 11.19%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $582.9K $687.6K $837.3K
YoY Change -47.01% -42.7% -35.59%
Total Long-Term Liabilities $582.9K $687.6K $837.3K
YoY Change -47.01% 12.55% -3.94%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.156M $3.650M $3.129M
Total Long-Term Liabilities $582.9K $687.6K $837.3K
Total Liabilities $4.739M $4.338M $3.966M
YoY Change 13.69% -14.04% -20.16%
SHAREHOLDERS EQUITY
Retained Earnings -$203.1M -$186.1M -$178.1M
YoY Change 24.82% 16.94% 15.4%
Common Stock $63.67K $63.63K $63.28K
YoY Change 39.49% 48.96% 62.23%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares $0.00
Shareholders Equity $143.7M $151.1M $155.7M
YoY Change
Total Liabilities & Shareholders Equity $148.5M $155.5M $159.7M
YoY Change 182.95% 269.68% 413.5%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2021 Q2
OPERATING ACTIVITIES
Net Income -$11.49M -$10.49M -$9.245M
YoY Change 220.17% 120.27% 118.09%
Depreciation, Depletion And Amortization $675.9K $494.4K $559.3K
YoY Change 16.53% -27.3% -20.1%
Cash From Operating Activities -$8.071M -$5.801M -$7.189M
YoY Change 198.93% 142.71% 53.93%
INVESTING ACTIVITIES
Capital Expenditures -$512.0K -$3.102M -$588.8K
YoY Change 55.15% 496.48% 54.94%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$512.0K -$3.102M -$588.8K
YoY Change 55.15% 496.48% 54.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 40.21K 44.71K 12.66M
YoY Change -99.72% -99.69% 4.3%
NET CHANGE
Cash From Operating Activities -8.071M -5.801M -7.189M
Cash From Investing Activities -512.0K -3.102M -588.8K
Cash From Financing Activities 40.21K 44.71K 12.66M
Net Change In Cash -8.543M -8.858M 4.885M
YoY Change -176.82% -175.64% -31.1%
FREE CASH FLOW
Cash From Operating Activities -$8.071M -$5.801M -$7.189M
Capital Expenditures -$512.0K -$3.102M -$588.8K
Free Cash Flow -$7.559M -$2.699M -$6.600M
YoY Change 218.94% 44.33% 53.84%

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CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-26476370
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-40377160
CY2020 us-gaap Net Income Loss
NetIncomeLoss
-17952172
CY2019 us-gaap Net Income Loss
NetIncomeLoss
-26476370
CY2020 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
2056150
CY2019 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
1931860
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-40377160
CY2020 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-20008322
CY2019 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-28408230
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.66
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.53
CY2019 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.94
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
61125215
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38109765
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30348452
CY2021 us-gaap Profit Loss
ProfitLoss
-40377160
CY2020 us-gaap Profit Loss
ProfitLoss
-17952172
CY2019 us-gaap Profit Loss
ProfitLoss
-26476370
CY2021 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1870459
CY2020 us-gaap Depreciation And Amortization
DepreciationAndAmortization
2458482
CY2019 us-gaap Depreciation And Amortization
DepreciationAndAmortization
2441581
CY2021 vuzi Amortization Of Software Development Costs And Prepaid Licenses In Cost Of Sales Of Products
AmortizationOfSoftwareDevelopmentCostsAndPrepaidLicensesInCostOfSalesOfProducts
439112
CY2020 vuzi Amortization Of Software Development Costs And Prepaid Licenses In Cost Of Sales Of Products
AmortizationOfSoftwareDevelopmentCostsAndPrepaidLicensesInCostOfSalesOfProducts
183328
CY2019 vuzi Amortization Of Software Development Costs And Prepaid Licenses In Cost Of Sales Of Products
AmortizationOfSoftwareDevelopmentCostsAndPrepaidLicensesInCostOfSalesOfProducts
100000
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
17302833
CY2020 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
1305900
CY2021 vuzi Impairment Of Patents And Trademarks
ImpairmentOfPatentsAndTrademarks
80163
CY2020 vuzi Impairment Of Patents And Trademarks
ImpairmentOfPatentsAndTrademarks
73532
CY2021 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-183614
CY2020 us-gaap Share Based Compensation
ShareBasedCompensation
2805842
CY2019 us-gaap Share Based Compensation
ShareBasedCompensation
1498357
CY2021 vuzi Inventory Reserve For Obsolescence
InventoryReserveForObsolescence
519950
CY2020 vuzi Inventory Reserve For Obsolescence
InventoryReserveForObsolescence
1273835
CY2019 vuzi Inventory Reserve For Obsolescence
InventoryReserveForObsolescence
4572659
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
853547
CY2020 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
289413
CY2019 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
599577
CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
6571108
CY2020 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1666792
CY2019 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
2998724
CY2021 vuzi Increase Decrease In Manufacturing Vendor Prepayments
IncreaseDecreaseInManufacturingVendorPrepayments
19019
CY2020 vuzi Increase Decrease In Manufacturing Vendor Prepayments
IncreaseDecreaseInManufacturingVendorPrepayments
242493
CY2019 vuzi Increase Decrease In Manufacturing Vendor Prepayments
IncreaseDecreaseInManufacturingVendorPrepayments
-512680
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
526825
CY2020 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-156537
CY2019 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-414997
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
537607
CY2020 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
454370
CY2019 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1605456
CY2021 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
436276
CY2020 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
97136
CY2019 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
21819
CY2019 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-152362
CY2021 vuzi Increase Decrease In Deferred Income
IncreaseDecreaseInDeferredIncome
-13355
CY2020 vuzi Increase Decrease In Deferred Income
IncreaseDecreaseInDeferredIncome
-101311
CY2019 vuzi Increase Decrease In Deferred Income
IncreaseDecreaseInDeferredIncome
-69263
CY2021 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
10589
CY2020 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
90966
CY2019 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-15361
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-26980411
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-13964053
CY2019 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-22355020
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3809268
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
496629
CY2019 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1898771
CY2021 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
593184
CY2020 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
488884
CY2019 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
250304
CY2021 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
450000
CY2019 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
758464
CY2019 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
250000
CY2020 us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
500000
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4852452
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1485513
CY2019 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3157539
CY2021 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
34715728
CY2020 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
14128527
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
782277
CY2020 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
29220
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
91613587
CY2020 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
25199336
CY2021 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1144364
CY2019 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
18855007
CY2021 vuzi Preferred Dividend Settlement Payment
PreferredDividendSettlementPayment
10000000
CY2020 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
1555900
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
115967228
CY2019 vuzi Amortized Common Stock Expense In Accrued Expenses
AmortizedCommonStockExpenseInAccruedExpenses
93587
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
36069508
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10606091
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17263643
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
120203873
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
36069508
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10606091
CY2021 vuzi Reclassification Of Unamortized Stock Compensation Expense Included In Prepaid Expenses And Other Assets
ReclassificationOfUnamortizedStockCompensationExpenseIncludedInPrepaidExpensesAndOtherAssets
1365242
CY2020 vuzi Reclassification Of Unamortized Stock Compensation Expense Included In Prepaid Expenses And Other Assets
ReclassificationOfUnamortizedStockCompensationExpenseIncludedInPrepaidExpensesAndOtherAssets
219051
CY2019 vuzi Reclassification Of Unamortized Stock Compensation Expense Included In Prepaid Expenses And Other Assets
ReclassificationOfUnamortizedStockCompensationExpenseIncludedInPrepaidExpensesAndOtherAssets
83475
CY2021 us-gaap Transfer To Investments
TransferToInvestments
1294262
CY2020 us-gaap Transfer To Investments
TransferToInvestments
272444
CY2021 vuzi Amortized Common Stock Expense In Accrued Expenses
AmortizedCommonStockExpenseInAccruedExpenses
-1127091
CY2020 vuzi Amortized Common Stock Expense In Accrued Expenses
AmortizedCommonStockExpenseInAccruedExpenses
148011
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
40912983
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
18855007
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
84134365
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
25463417
CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-6657552
CY2019Q4 vuzi Accrued Revenue Current
AccruedRevenueCurrent
0
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at year-end and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</p>
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2021 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Customer and Supplier Concentrations</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">One customer represented 10% of total product revenue and four customers represented 39%, 28%, 16% and 12%, respectively, of our engineering services revenue for the year ended December 31, 2021. No one customer represented more than 10% of total product revenue and two customers represented 48% and 26%, respectively, of our engineering services revenue for the year ended December 31, 2020. One customer represented 16% of total product revenue and one customer represented 100% of engineering services revenue for the year ended December 31, 2019</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Three customers represented 27%, 20% and 10%, respectively, of accounts receivable at December 31, 2021. Two customers represented 21% and 14%, respectively, of accounts receivable at December 31, 2020. Three customers represented 32%, 26% and 13%, respectively, of accounts receivable at December 31, 2019.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Two third-party vendors represented 38% and 24%, respectively, of material purchases for the year ended December 31, 2021. As of December 31, 2021, the net amount due to these vendors was $504,073.</p>
CY2021 vuzi Number Of Third Party Vendors
NumberOfThirdPartyVendors
2
CY2020Q4 vuzi Accrued Revenue Current
AccruedRevenueCurrent
0
CY2021Q4 vuzi Accrued Revenue Current
AccruedRevenueCurrent
0
CY2021 vuzi Unearned Revenue
UnearnedRevenue
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Unearned Revenue</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">These amounts represent deferred revenue against our expected product sales returns for all December 2021 products sales that are subject to the Company’s 30-day money back guarantee return policy.</p>
CY2019 us-gaap Advertising Expense
AdvertisingExpense
1302120
CY2019 us-gaap Capitalized Computer Software Impairments1
CapitalizedComputerSoftwareImpairments1
0
CY2020 us-gaap Capitalized Computer Software Impairments1
CapitalizedComputerSoftwareImpairments1
0
CY2021 us-gaap Capitalized Computer Software Impairments1
CapitalizedComputerSoftwareImpairments1
0
CY2021 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
80163
CY2020 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
73532
CY2019 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2021 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-183614
CY2019 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
0
CY2020 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
0
CY2021 us-gaap Advertising Expense
AdvertisingExpense
1263897
CY2020 us-gaap Advertising Expense
AdvertisingExpense
974461
CY2021 us-gaap Earnings Per Share Potentially Dilutive Securities
EarningsPerSharePotentiallyDilutiveSecurities
8,606,062
CY2021 us-gaap Earnings Per Share Potentially Dilutive Securities
EarningsPerSharePotentiallyDilutiveSecurities
8,606,062
CY2020 us-gaap Earnings Per Share Potentially Dilutive Securities
EarningsPerSharePotentiallyDilutiveSecurities
14,872,703
CY2019 us-gaap Earnings Per Share Potentially Dilutive Securities
EarningsPerSharePotentiallyDilutiveSecurities
12,858,707
CY2021 vuzi Share Based Compensation Exclude Long Term Incentive Plan
ShareBasedCompensationExcludeLongTermIncentivePlan
4047444
CY2020 vuzi Share Based Compensation Exclude Long Term Incentive Plan
ShareBasedCompensationExcludeLongTermIncentivePlan
2805842
CY2019 vuzi Share Based Compensation Exclude Long Term Incentive Plan
ShareBasedCompensationExcludeLongTermIncentivePlan
1498357
CY2021Q4 vuzi Number Of Major Product Lines
NumberOfMajorProductLines
4
CY2021 us-gaap Revenues
Revenues
13164933
CY2020 us-gaap Revenues
Revenues
11581496
CY2019 us-gaap Revenues
Revenues
6670604
CY2021 vuzi Standard Product Warranty Term
StandardProductWarrantyTerm
P12M
CY2021 vuzi Standard Product Warranty Term
StandardProductWarrantyTerm
P12M
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
226126
CY2020Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
1381677
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1472534
CY2021Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
11580766
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2020Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
5252709
CY2021 vuzi Revenue Performance Obligation Percentage
RevenuePerformanceObligationPercentage
1
CY2020 vuzi Revenue Performance Obligation Percentage
RevenuePerformanceObligationPercentage
1
CY2019 vuzi Revenue Performance Obligation Percentage
RevenuePerformanceObligationPercentage
1
CY2021Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
0
CY2020Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
3352057
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1127444
CY2020Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
3885619
CY2021Q4 us-gaap Inventory Net
InventoryNet
12151982
CY2020Q4 us-gaap Inventory Net
InventoryNet
6100824
CY2021 vuzi Percent Of Additional Reserve For Obsolescence On Finished Goods Inventory
PercentOfAdditionalReserveForObsolescenceOnFinishedGoodsInventory
0.25
CY2021 vuzi Net Realizable Value On Inventory Write Down
NetRealizableValueOnInventoryWriteDown
519950
CY2020 vuzi Inventory Reserve For Obsolescence
InventoryReserveForObsolescence
1273835
CY2019 vuzi Inventory Reserve For Obsolescence
InventoryReserveForObsolescence
4572659
CY2020 vuzi Effective Income Tax Rate Reconciliation Forgiveness Of Ppp Loan
EffectiveIncomeTaxRateReconciliationForgivenessOfPppLoan
0.018
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
11051777
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
9201894
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5861339
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
6364492
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5190438
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2837402
CY2021 us-gaap Depreciation
Depreciation
1306479
CY2020 us-gaap Depreciation
Depreciation
1904282
CY2019 us-gaap Depreciation
Depreciation
1913409
CY2021Q4 vuzi Private Corporation Assets Non Current
PrivateCorporationAssetsNonCurrent
450000
CY2020Q4 vuzi Private Corporation Assets Non Current
PrivateCorporationAssetsNonCurrent
250000
CY2021Q4 vuzi Unamortized Stock Issuance Expense
UnamortizedStockIssuanceExpense
491923
CY2021Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1483589
CY2020Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
708333
CY2019 vuzi Effective Income Tax Rate Permanent Difference
EffectiveIncomeTaxRatePermanentDifference
-0.001
CY2019 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.003
CY2021Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
185044
CY2021 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
-40377160
CY2021Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
683044
CY2020Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
582924
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
551220
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
187323
CY2021Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
185044
CY2020Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
143898
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
68888
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1419308
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
983033
CY2018Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
218047
CY2019 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
204583
CY2019 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
85429
CY2019Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
98893
CY2020 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
193503
CY2020 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
238508
CY2020Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
143898
CY2021 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
342392
CY2021 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
383538
CY2020 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
-17952172
CY2019 us-gaap Other Comprehensive Income Loss Before Tax
OtherComprehensiveIncomeLossBeforeTax
-26476370
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-8924947
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-3897293
CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-5382746
CY2021 vuzi Current Federal Income Tax Valuation Allowance
CurrentFederalIncomeTaxValuationAllowance
-8924947
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.003
CY2020 vuzi Effective Income Tax Rate Permanent Difference
EffectiveIncomeTaxRatePermanentDifference
-0.004
CY2020 vuzi Current State Income Tax Valuation Allowance
CurrentStateIncomeTaxValuationAllowance
-94324
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.016
CY2020 vuzi Current Federal Income Tax Valuation Allowance
CurrentFederalIncomeTaxValuationAllowance
-3897293
CY2019 vuzi Current Federal Income Tax Valuation Allowance
CurrentFederalIncomeTaxValuationAllowance
-5382746
CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-341181
CY2020 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
7916
CY2019 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-511672
CY2021 vuzi Current Foreign Income Tax Valuation Allowance
CurrentForeignIncomeTaxValuationAllowance
-341181
CY2020 vuzi Current Foreign Income Tax Valuation Allowance
CurrentForeignIncomeTaxValuationAllowance
7916
CY2019 vuzi Current Foreign Income Tax Valuation Allowance
CurrentForeignIncomeTaxValuationAllowance
-511672
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-636401
CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-94324
CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-5967000
CY2019Q3 us-gaap Revenues
Revenues
1159000
CY2019Q2 us-gaap Revenues
Revenues
2186000
CY2019Q1 us-gaap Revenues
Revenues
1373000
CY2020Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.09
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.13
CY2019Q4 us-gaap Revenues
Revenues
1953000
CY2019Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-5534000
CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-6826000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-4761000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-4239000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-5362000
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.13
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.18
CY2020Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-4120000
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-5281000
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-4746000
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-5861000
CY2019Q4 us-gaap Gross Profit
GrossProfit
-4369000
CY2019Q3 us-gaap Gross Profit
GrossProfit
-231000
CY2019Q2 us-gaap Gross Profit
GrossProfit
152000
CY2019Q1 us-gaap Gross Profit
GrossProfit
40000
CY2019Q4 us-gaap Net Income Loss
NetIncomeLoss
-9583000
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
-5477000
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
-5056000
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
-6360000
CY2019Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.31
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.18
CY2018Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
371000
CY2019 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
4566000
CY2019 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
-149000
CY2019Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
4788000
CY2019Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
4788000
CY2020 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
1274000
CY2020 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
-2176000
CY2020Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
3886000
CY2020Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
3886000
CY2021 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
520000
CY2021 us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
-3279000
CY2021Q4 us-gaap Valuation Allowances And Reserves Balance
ValuationAllowancesAndReservesBalance
1127000

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