VUZI - Earnings call transcript Q2 2022

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Operator

Greetings, and welcome to the Vuzix Second Quarter ending June 30, 2022 Financial Results and Business Update Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this call is being recorded. I would now like to turn the call over to Ed McGregor, Director of Investor Relations at Vuzix. Mr. begin. may you McGregor,

Ed McGregor

Travers; and June the business XX us CEO, call. everyone, Grant of update second XXXX With Paul Vuzix are ending financial today our welcome afternoon, CFO, Vuzix' Russell. to quarter conference and Good results and

a turn statements, limited factors, to changes Paul, the the results and personnel, Securities and to and which you differ requirements. are to plans, forward-looking I'd as any remarks prepared well management over those competitive materially Private the result the call, company and Litigation of to, protection statements Harbor business in changes to factors, conditions, Therefore, strategy legal additional from session. qualified business uncertainties during as the by this and that of subject question-and-answer but regulatory including general on ability Act management's Reform attract in call forward-looking may may certain I are contained XXXX. like economic remind the not Actual Before that development contain or statements could Safe contemplated make forward-looking in risks claims statements, of the as forward-looking for retain

estimates today, conditions direct comparable XX-Q change. the can is calculated may include measure be most Form Today's will to then will over future addition, the projections company's certain the non-GAAP the required, financial in move the call market as will sec.gov, filing Russell, will company's the financial remarks. now the outlook. measures. the return presented Travers, to which in CEO, on any to future will also no second we In and over with as of update call found August the in Grant When some operating and at available according GAAP After Vuzix Paul? obligation at overview reconciliation an performance Paul turn Paul to as financial represent assumes business to company's closing XXXX. call provide will turn management's of of X, these provide overview Q&A company's session. CFO, give Vuzix' results an I results. which Vuzix' www.vuzix.com. who who to quarter Paul to projections

Paul Travers

the COVID, and in some Ed. you, recent macroeconomic to for will quarter, Europe, Vuzix a in European we call, perspective for Germany headwinds On accounts in growth and causing which in remain QX challenging drive EMEA boots Also our later early connected region. the delayed Northern we Europe, businesses. where to will everyone, going headed. frontline Hello, our from sales opening and support worker and conference the welcome to support with in QX of quarter on the to then Thank be due with The this with XXXX second bolstering XXXX decision-making review Vuzix and our a you additional Asia. pedigree give and sales exceeded quarter ground developments notably, $X sales see second we to our business experienced in companies, of central and came expanded the on a connecting we're thousands results We're workers resurgence operational provide the smart westbase.io environment and with new overall things this of encouraging addition XR our which and QX support most one call. versus X% XX-year support From online channel of core device of the customer XXXX, glasses business. year-over-year. gain expectation, and engagement office our Europe, in a the solutions of hub sales perspective, additional business and our international of local Technology, that firm a the business. in tens cellular increase a particularly a very across parts Despite QX most represented issues, key to our of team consensus XX% distributors was million, in these revenue Europe Most

closely support customers to as independent the through continue enterprise-wide software our we our with and out collective to any optimizations of vendors ahead work needs key they solutions their further rollouts. of always, expected As work roll

accelerate On our the growing back both we in shortly, will business, of OEM XXXX. half of revenue OEM is the business and I and side upon activities a customers, expect there existing with expand new and which momentum to the

our commitments continue technologies, are in to waveguide and our Atomistic and core display along capacity. expansion manufacturing significant QX we the backplane invest regarding MicroLED announcement including waveguides with investing of We high-volume, in and in engines Additionally, our investment cost-effective our with also

see are rollout glasses. to glasses rollouts planned is release volume companies XXX preparing the implementation into positive. press this larger large of material primarily one already multiple remains disruptions rollouts retailers core placed products. their commitments base logistics, has One to headwinds from the we up They logistics and the our by smart and due of will to glasses we benefits largest deliver without has deployments to-date. our for to glasses of that currently by this and critical world. other warehousing in being of operations. period glasses the discussed glasses is starting now project slated software well world customer. Our just customer and customers were glasses vertical one continued One is over stops a any customer to four actively this starts, logistics. selected of a numbers other expand, initial warehousing XXX July for COVID customers' orders in Fortune Amazon arm a to increasing. ROIs the scheduling and also our at that of solutions much and multiyear Fortune Vuzix great scaling expand deploy to months of support customer last powerful of smart efficiencies pauses actively that and Feedback earlier, regarding the smart help our largest The to it's smart very smart will smart continues including some retailer to market And see The that multiyear referenced and the smart we're represent After XX afforded to in are has this

for As half customers hundreds continue fine-tuned during per preparation various have expand been warehouses, of deployed custom we and to media, the supported and business still performed North than in to glasses in Glasses are planning Pixee and and their release now SPS, more in a XX,XXX half have surgeries. surgeries online and and even Smart medical for anticipate place, In full our surgical from is distribution being incoming more written over a They white software, knee, project seeing its in opportunity pipeline as surgeries FDA smart to-date. replacements. more X,XXX units in in and the their shoulder stream shoulder expand knee social well expand steady outlook XX Glasses from more deployed and healthcare-related July, Vuzix their in wider in run its of market some our of MXXX has Smart Rods being papers we solutions and their a total the and surgical as which healthy. XXXX solution arthroplasty in create Japan late as sales In which across XD being & FX Vuzix-powered we space, June even solution, spine the glasses platform rollouts for now own surgeries major and received solutions. Medical software XX countries had expected smart sales shoulder XXX(k) current availability their POCs their Vuzix. of Amazon next active out has Cones this for of continued worldwide, glasses continues well hospitals taking instances for to other which many ISVs should Around May XXX healthcare, received smart second AR second Medacta both integrated approval our the At remains facilities. this will own world, based large the and now to beyond. within are expand begin Amazon surgical of rate continue day. and for SKU should centers XXXX. America a solution shoulder solutions roll and over to a over the that's of XXXX expect of also they're clearance core Overall, surgery inquiries remainder doctors as

to XXXX. XXXX to these expect key compared needs Glasses managing be accounts, in deployments of of of customers' our the have half the around and half the on second from revenue Regardless, our Smart understanding our and quarterly biggest over one to impact a material sales. forecasting which our However, second timing of can continues we core challenges expectations grow

May series of technologies represents material a expected transaction, a As call we next-generation HD micro-LEDs. believe deliver become as to would agreements more about high-resolution announced firm be full signed the progress. and if Vuzix's that Vuzix in XX making a related micro Atomistic this this We're as to broader development the the science through approach of that smartphone Display you form the large color of of to like The and with mid-May, and wearable for or micro-LED Atomistic, light-emitting with diodes conference of review see Vuzix ultimately learn on combination waveguides hosted novel current to what great markets, itself. AR market will And Grail Vuzix markets the a France-based functionality Holy solutions, efforts level year. please

to look are due-diligence service companies completed. bringing and broaden developments website. our and our We continues when if with on could it across forward market key offerings on market front, find can vertical in the SaaS-based hold engage to that news segments. you these Vuzix M&A they You discussions Elsewhere successfully about solution multiple

going As side glasses we seeing equally about our business. us are as on OEM forward, the what looks to are promising we market smart of the excited opportunity

during that shopping design waveguide-based display in engine needs find For will and and announced high-volume, cost-effective many competition. a Our this for them. been formal their with offered standardized announcement from second to RFQs, was Inputs being mix offer platform our engines RFIs, Since waveguide one-stop advanced that For Request is cases, new expanded customers we capabilities, with This OEM currently proactively go have parties. most almost to production Request fielding and is, quarter for impossible the third platform the now to display and solutions to Quotes solution our customized OEM initiatives, of

to and portfolio patents strengthen now IP XXX continues consists Our of and patents pending.

to and with deliver the world's a is one display volume very AR performing needed best technologies the of several waveguides the cost-competitive future. just for ability critical solution of engines and Our products

to our low-cost production to our expanding on way well waveguide facilities high-volume, offerings. are We support

fields associated goal the a to Glow, usage our smartphone. And the do of Eye also We for opportunities engines address use investment. of waveguides significant a of for more an are atomistic way of and expected waveguides long-term. same we to of Vuzix of tripling strides in that potential future against supporting the made include and with the name reduced advances. part designs the of waveguide efficient have demand, our course and an for We millions for significant are business future technology LEDs feel larger by color expansion polymers, and revenue platform and all our substrates deliver few the equipment of index in To battery brightness the color integral the as Vuzix's of to literally is much we very high-resolution waveguide units waveguide the efficiency due from own computing be OEM micro the defense, to full view the fabrication XX% see needs single-layer replacing higher higher will OEM preparing coming

the our On defense non-compete are only to with the allied well any we engage in manufacturer US-based side, allowing positioned around expired US June, waveguides. world, defense where of directly and us as the agreement organizations

and defense to market actively We defense-related to direct government plans are with programs. trade addressing outreach events the attend show key

additional of evaluating process talent development and that with defense business the our on in assist business. also are could efforts new bringing We

and runs span years can of five four, programs components and goal more volumes. production six or selection volume in even where Our our figure qualification is into OEM and five unit result

we from solution just leading to intention functional products is the notably, their be build ground solutions. it cost-effective display and side, to integral be highly to smart but of volume. The flexible, their to together designed for have a high-volume consumer AR publicized many of for work related challenging glasses competitive have positioned any and consumer fashionable provider pair AR pieces for optics of in glasses up glasses On AR the smart represent engines application. and to and the a cost discovering waveguides masses, are consumer offer Most well companies are how

So as waveguides and Vuzix many are for exact our this for reason. now display a turning to partner engines

verticals side, for being on On cases you to deployed. and/or variety customers a us are already give as to enterprise upgrades lot. the that and represent use some what's of greenfield are in I color space. you that varied And on a older specific like it's customer can OEM would going see industry applications the X, driving on Slide solutions

in a with a We in notably, defense, programs Projects customized underway can multiyear for target. currently engaged existing used LXHarris's firms more. with firms with multiple product pursue given recently may exciting are leaders various projects other unit Starting for stages their new head-mounted contractor and of that engine be in to some use defense actively technology potential we be with defense and lines develop and Technologies, we seven cases projects many we within of works. with an they remain LXHarris could announced LXHarris discussions in on display leading new that our many size use Most existing of and the spaces, development. quite the multiple It's them. engaged agreement respective with waveguide-based large the are are us they ones with the with

supply preproduction the another discussed partner to instance, For with past delivered. is agreement continuing long-term the have we in in process be still with modules defense

these of year balance this over more offer production. move see as We the of expect some as to well about some specifics closer to

this announced hardware XX technology month when order Fortune we purchase equally The side, consumer received we custom I software well design company. are the development customer, an On from this significant last a work is waveguides for for previously, needs underway is and Vuzix the a by consumer-related and match waveguides and the to built which specifications. customer's consistent made with being marks specifically

with and interest to other for customer OEM-related markets. We continue be are and additional engaged forward our to that equal will programs also to the support due Overall, waveguide accelerate revenue to second anticipate growing broader we we designs caliber, expect firms in announced as growth cost-effective of receive fashion the beginning year track smart terms this represent projects these more reach contract most cases, service three of as such, be future the potential. products next Vuzix just half release of will over and the In development the glasses engineering stage. very as AR sales, on several to in revenue months. new remains

delivery production challenging teams our high successfully project get Our in the development should issues and marks COVID. for due to chain with managing shutdowns China supply schedules, and during

architecture, support product but enterprise capabilities form will broader their love answer many will of and completion are the Glasses upgraded new successor waveguide-based Android Android waveguide applications We feature Smart advanced OS our optics, of believe our WiFi factor, a call We to the our box. other among nearing microprocessor Blades out of new required XX from to a customers new that that things. the Blade and an latest this

and We The phone commence follow-on design of including announce by our product Vuzix Vuzix smart takes weeks. this and glasses, MXXXC, the afforded IPXX. production PC to expect of USB-C-based the camera volume advantage second-generation compatible full formally and MXXXC, robust Windows within

channels standard shipped MXXXC to have of expect the introduce of production we to a during our the MXXXC initial quarter. We third and limited number units the

form Shield, and advanced traditional Vuzix and its compared glasses more customers the capabilities have garnered to significant require our far the a interest afforded functionality Finally, form that enterprise smart from competition factor is of before next-generation year. early and for to this solve is the eyeglass for review. Grant over well introduction now to I'd his to to the call challenge. shield the pass The half of the track by second like on end financial Grant? Shield operational the them

Grant Russell

you, Thank Paul.

afternoon mentioned, a Ed filed As of detailed quarterly SEC this the XX-Q financials. our offers the we with explanation

numbers just I'm bit a now. So of provide to of going the some on you color with

a overall gain versus Smart volume direct a a I of XXXX. and rise completed And product compared were relatively for was gross months in sales on see revenues the ended would and this engineering June unchanged million for obligations, to a foreign sales million in the external order, X% XXXX, to million prior for $X.X services expense the a discount as XXXX. discounts lesser compared second expenses currently quarter decrease in million, quarter XX, was in million The foreign sales overhead to expenses. expense and XXXX increase directly should on offset the large period. compared XXXX, million, to XX%. travel And in unit extent Our headcount June was $X.X and expenses ended sales. second three was by of compared headcount and quarter. large months higher XX, in approximately ended year-over-year gross Revenues decrease salary Shield IR-related XX, the smart by in XX% XXXX period. tradeshow comparable a negative higher drop Glass to recruitment to largely and and XXXX higher driven of of the out due XX% did engineering There and a June XXXX of development total have million $X.X salary to period shareholder expenses of or million, near remaining was half non-US in admin ended which attributable of three the while and, R&D in double-digit increases profit million XXXX in in volume the of ended R&D on million the June June increase customer related profit marketing loss XX% an from services share largely months XX% to hiring related for was primarily and, the $X.X three of months to XXXX as level second to for profitability expenses same the the XX, a a ended and the to given This or and XXXX degree, impacts versus for same an gross the order lesser increased loss commissions was to increase, in expense three in of the in net of of period quarter cost denominated and a XXXX, $X primarily XXXX decrease due allocations period, period $X.XX three dollar $X.X $X.XX a the million in $X.X XXXX. $X.X the glasses benefits XX, General increases. our months due benefits $XX cost The $X.X product increases impact share in June quarter sales manufacturing same point applied quarter. per XXXX, due we exchange in $X exchange expenses and sales period negative prior The or or included in the for like to in for in expenses. we the – was versus was for Selling decline be recognized million the $X.X XX% months million, a the versus largely $X unit of net in XXXX, year and $X.X XX, for million a per costs to was three a period, as XXXX,

balance highlights. for sheet some Now

agreements of mainly adding of a to working The after remains compared XXXX used was period. of totaled quarter $X.X the changes cash million Cash million. working $XXX.X million period. operations activities Atomistic back design $X.X comparable product sheet Cash and license investments but of related mold million XXXX, and XX, Our in million towards and commitment tooling to which $X.X million $X.X increase used $XX for as million of with capital, for positions backplane to manufacturing position our equipment, investing quarter $X.X our made million payments prior compensation, as second in the XXXX balance equivalent and tooling June and million $XXX.X net strong excluding second stock in capital of for compared XXXX as the operating non-cash year's the technology $X.X fee are reflects in expenses, our fees. in cash for

company outstanding obligations than continues commitment. Atomistic to or outstanding As our of have June XX, fee long-term current debt no XXXX, other license the

our Looking to we balance I'd invest forward resources business the on to are With back that, future. like the confident have further we turn over and the to in call our Paul. of XXXX, to plan execute

Paul Travers

be I To and Grant. glasses is to important you, The points. will a smart would like close, AR momentum adoption gaining accounts few of Thank most by reiterate world's and unstoppable.

IP get no we behind back developed and with to the this deliver this We With markets to call medical manufacturing the deploy of preparing Q&A. has capabilities enthusiasm Vuzix sheet the the to for supply supply to charge this the to are enterprise leading it I'd balance technology has have right Vuzix seeing like been years, chain for and loss turn it. and to to new opportunity, and for operator that, over it growing to done. throughout

Operator

[Operator of ahead. The Thank questions. go floor from for coming now Matt you. today BTIG. VanVliet The first question Please Instructions] is is open

Matt VanVliet

around question. the across a progressing and last world outlined market several the whether even number guess enter number concerns technical the a number of the total good it's up maybe just you I Curious limiting weeks or broader how verticals. and potential recession for a taking here. goes inflation a two there's just been month of macro, activity have Thanks those on discussions as or – first or opportunities a Hey, consumer of business here different afternoon. OEM

quickly capabilities demand number those you any if that, as those discussions question those? capacity expand Thanks. invest a total comes secondary a would of the to And where a had production pace and or then through, you sort of from you've what can of consider those and And if slowdown come continue how Just you be in? curious capability? of on

Paul Travers

really Yes, hey good questions. Matt,

we've customers. of a This actually, since keeps willing do that the was officially is programs what programs, start up we're quite quite we one exciting not will these very sort that. program select Vuzix. to just in is Show announced instead fast, having that's quarter quite stuff it all, business. the engineering programs of at. this it consistent opens to something as roll It I are opened just wins, try the mean what we said business. at we went has And the production if do production why actually We that foreseeable case, growing. And which XXXX, more Biz sort of frankly. come less here be seems unique, ago, amount next slowed from short X, X, hire The done down of and coming bit always it anybody people is are, is and were preproduction. part probably doors. part up the our just outside play X because to relates help their First to the building it's frankly. a every we reason to phone now on And we now, should like single and a new maybe And the that, called this speed Right of the pace. part tell, facilities. what to we've with this upgrade mean up, over as even real least months which and to would this transom where up of [ph], earlier that inside to frankly. quarters, good It's for seeing of is whole we to programs. we be can through of are bunch out, as facts of portion capacity do expensive be it we get our And offered economic In we're far us than we announced business I to preparing of into goes, growing really – picked is this easily

are those doubt be There's fine quantity some expanded manufacture take these wanting well facilities numbers. bring And some higher But can really into more are a to customers we volume significant like, a folks, to for doing sit. of capacities. upgrading we'll line, into of no We take And have They we're already new need our facilities. for reasonable well defense time, the time. We where up we the waveguides. and customers for that. but with

Matt VanVliet

big Have receiving follow-on about there? much be opportunity may ballpark a sort like you opportunity Thanks you get All of these you And to picture and is already or through and volume Just deals sort logistics you XX% to orders? what you of Thanks. the have are of talked captured you there. of the orders of coming is right. Great. XX%? would overall X%, then XX%, for that. expansion the want How as pipeline how as warehousing more the here, look characterize at ultimately relative the initial total

Paul Travers

really mean the work in expanded gets way is I base looking at up everybody finally real These and are volume where that see Yeah. to to customer started just open And change are to to revenues, modest they're tap frankly, getting with that. going this -- business million our Vuzix $X is pretty a quarter, to be. glasses smart mean, it's going done. compared I programs.

even. iceberg. way X% the is this is less tip getting I than just as So would characterize it This of started. an

Matt VanVliet

Great. Thank right. you. All

Operator

question Thank Craig-Hallum. ahead. you. from Christian go coming is Schwab Please next of The

Tyler Burmeister

is behalf This of Christian. Tyler guys. on Hey,

maybe slide help and OEM Paul, just maybe it's The maybe order to of first you're still. color that hear Any you on some ones be those we're front, great are the tracking, there very opportunities. the at opportunities? potentially rank with a great question, follow-up or guess, great. I on was furthest some well would degree a OEM level can, if the of these of of number largest to, able where what I along things are So but could kind set be maybe them, was ones to wondering what are

Paul Travers

the which But maybe costs that -- side them. you, but characterize to of the XXX,XXX $X,XXX and pair defense try the get smart I'll can of they or per volumes sale into markets, of I engine, cost to things programs will okay? the be glass quantities kind of tens unit if the are say, for optic display in defense of volume, are unit Tyler. a be Yeah. the a The to US are with an they're of and defense price, bigger you those $X,XXX mean would it kinds are programs for smaller. numbers. piece some a smaller part Those I

in easier much are to add it a when significant still higher And about potentially smartphone. the business, your ship and is Tyler. and at year, broader volume they unit billions you you level, it's a maintain much the significant talking smaller, business up. markets bigger The margins technology but smartphones the it's So a and just is businesses a if a in the those replacing start but volume

in a suggest of these. so it's spectrum we through that thing boat on XXXX need go business, people going of And of are we're smaller, I kind volume going that load the programs. into that XXXX-ish to boat higher-margin the have right side the from And for opportunity on but load would to

in to be that their us. trying than Some guys with aggressive even are discussions more

one in On side there's programs the of business, the we're like we've that already preproduction said, to. I defense shipping got particular

the that definitely side production early real XXXX, see -- production of programs you'll business. So on

Tyler Burmeister

continue I the to then positive. was color. announced and pivoting That's interesting the great think, you multiple with this. engage maybe said wondering, strategic you. quarter, very other you partnership like Thank opportunities you great. was to in I And second, That's

should opportunities mentioned strategic and larger, So in you've we would technology expect deals? color your I or something know sort I also be the thought software on wondering maybe front, Any the transformational. of past, more tuck-in opportunity M&A similar great.

Paul Travers

technology an so more front. -- could We what Yeah. happening And see part important is Vuzix does. of potentially always you on stuff that

wood, On that though, all I at this may on they get the it see, come significant said I on think, that is to And the front, game mean, be a SaaS should Vuzix. important. has think, of expensive That with house. that's getting the to some Vuzix, But we knock side we together, software on for potential, it. into wood functional stuff think, be I you'll not model, before, knock

So as it. the SaaS so I there's the know, mentioned, side two like technology – that, than more I'm can't to base it I legs but offer of you sorry, in Tyler, side,

Tyler Burmeister

right. All It's sounds for us. good. all guys. Thanks, That

Operator

McIlree next you. Thank from Jim question is coming go Please The James. of Dawson ahead.

Jim McIlree

customer back-end rolled you out, it or of I XX% you, Thank the well, has was that great. business think that numbers, year imagine, loaded logistics pace of I'm is not warehouses, characterize make you But the good kind something what be characterize I you of one, was up necessarily if you're at schedule be expecting look a rollout but that that, think front-end look numbers more how like loaded? or the is the hoping and and might rollouts in afternoon. -- Paul, back? could would year XXX a XX% two you number trying to in might could just hoping might

Paul Travers

depend we've past their success. to thing does system. let's is seen in guys with other what And is really these upon is It the and Jim, the where start once they these have often happens, in roll, operate faster companies how that customer comes the success it

starts just is, it faster thinking then little So but and the faster. it as slower, bit rolls, it gets a current

that. adds up distribution really all you've we're of for So products volumes kinds apologize But and a distribution the center, in centers, got that's there's that you of XXX not it I fairly a number quickly. talking for answer reasonable hard though, there. the

Jim McIlree

question, second this again, glass you sourcing set. particular regarding smart technology? are Are customer or sole customers dual the And these the supplier, Okay. that source

Paul Travers

we're From is it's choice. once product decision seeing, the of made, the what

smart where against of course, this have health maybe and the use retailers the the against companies, there. that not happening that's competition, for saying in instead of these kind almost really you sector, doesn't it's multi-unit up all happens. with you're business in and these cemented you rooms, just of built much in company's that of – make decided It these care, you always And around software care it, of to don't manage end this it's comp the that. them we'll there's look if It's often, around you're and – guys program. Jim, mean, then because the competition got the is many on there's glasses too And once this see so don't that are systems released, I operating there, once we front It's deployments. think, even difficult we're this of one. trying negotiation to But they're kind this one decisions and to like they in and health of

Jim McIlree

rolling the – start right. we your All as start last then question or have to you out, do order rolling will resources system, level you deployments have their whereas that start customers terms to or aftermarket my you'll through it support out these of products And is, maintenance commit that what right now? either of to warranty in don't what you support or is as have in

Paul Travers

Look, enough have don't a of we maybe be would about better these we cases, don't think they units recommend that we in That extra buy way probably have or that. to on-site. that them many of

need, dot MXXX, XXX allow which a and fast or a of In is per return guys that part lot deploy that's an We the with So in quite it's per it. would get is other is in partners smaller if a of return folks to It's those a like almost XXX more ISV, than partner to over get these we pretty those done cases, our -- a some programs which will If cases, the you XX end, also like of place upfront, not XX repair always this required. spares, recommend companies. if say In on if the site is low. less for of lead taken once we'd product probably in all these few numbers. the warranty programs more number, reason there's have those number, in I with of this, would front that supporting it's case, But low to these to kind work site, need that them to. -- a instance, do rates to with every have kinds bigger spares. I they it's cases, you thing. deployments we also there's have back. to we They're say are handholding which numbers. see And with why Vuzix. it's the longer

So there's a make help come this in level in companies almost of happen to most two cases. to support

Jim McIlree

it Got it. Thank Great. you. for That's me.

Operator

this like comments. turn floor you. for to Thank over Travers closing back to time, I'd Mr. the At

Paul Travers

today. the I Board see participating forward lot to be as and Exciting And evening being to is actually getting what we to more the you on with a Have the years days. year going be of of next a a everybody. doing sharing much mixes everybody our in for Everybody, world. say. the to It's fun are at thank interest to It's Vuzix, these have and Vuzix, the product and look call times for good a for everybody across thank unfold. I'd hope to couple to Vuzix I shareholders. a like all the you that's great excitement feel good level at time really very

Operator

participation. you thank for gentlemen, This concludes today's event. and Ladies your

the the and log rest this You day. of may time, at webcast lines off enjoy your or disconnect your

Vuzix (VUZI) 9 Aug 222022 Q2 Earnings call transcript