Vuzix to display AR smart glasses at MWC24 Barcelona
Investing.com | Editor Ismeta Mujdragic
Published Feb 23, 2024 09:39AM ET
ROCHESTER, N.Y. - Vuzix (NASDAQ:VUZI) Corporation (NASDAQ: VUZI), a supplier of smart glasses and Augmented Reality (AR) technology, has announced its participation in the upcoming Mobile World Congress Barcelona 2024 (MWC24), which will take place from February 26-29. The company will showcase its Vuzix Z100™ smart glasses and will be joined by Nulitics and Wideum, who will demonstrate their software solutions on the Vuzix Shield™ smart glasses.
The Vuzix Z100 smart glasses, praised at CES 2024, are designed to resemble standard eyeglass frames, weighing 38 grams and functioning as a wearable smart assistant. Vuzix will demonstrate various consumer experiences, including social media and fitness applications. Another model, tailored for sports and fitness, features Vuzix Incognito, a content privacy guard that prevents on-screen content from being visible to others.
Nulitics will present its object recognition and asset tagging software, which focuses on IoT 3D digital twins visualization and uses machine learning for object recognition and workflow guidance. Wideum will showcase its software that blurs faces in real-time video, adhering to EU GDPR privacy regulations.
Paul Travers, President and CEO of Vuzix, stated that the Vuzix Z100 is one of many OEM options, emphasizing its lightweight, fashionable design for hands-free connectivity. He also highlighted the sports model's fitness orientation and privacy features.
Vuzix is known for its innovative smart glasses and AR technologies for various markets, including enterprise, medical, and defense. The company holds over 350 patents and pending patents in optics and AR technologies.
The information in this article is based on a press release statement.
h2 InvestingPro Insights/h2As Vuzix Corporation (NASDAQ: VUZI) gears up to showcase its latest AR technology at MWC24, investors and industry watchers are keeping a close eye on the company's financial health and market performance. According to InvestingPro data, Vuzix holds a market capitalization of 98.38 million USD, indicating its size within the tech industry. Despite its innovative products, the company's gross profit margin over the last twelve months as of Q3 2023 stands at 16.7%, reflecting challenges in converting sales into profits.
Moreover, the stock price volatility is evident, with a 1-month price total return of -13.97% and a 6-month total return plummeting by -63.93%, highlighting the risks associated with investing in this dynamic sector. The company's P/E ratio, at -2.41, further underscores that analysts do not expect Vuzix to be profitable this year, aligning with an InvestingPro Tip that suggests the company is quickly burning through cash.
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For those considering a deeper dive into Vuzix's financials and stock performance, InvestingPro offers additional tips, including insights into the company's liquidity and valuation metrics. With a total of 14 InvestingPro Tips, investors can gain a comprehensive understanding of the company's financial position and future outlook. To access these insights, visit InvestingPro's Vuzix page, and don't forget to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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Written By: Investing.com
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