Ed. timing you, into additional QX larger going of call, the Thank placement we're On quarter see months. XXXX. fully conference a expect, we will our saw the to call, with results coming half perspective bit order everyone, Grant we providing regarding where and primarily to detail financial in review start due lower-than-planned some Most and some operating sales, in the our Hello, and them, first channel third to by welcome close in later in the results.During developments Vuzix' to the deals. things this partner recent the color want glasses give headed and I will quarter, the quarter but XXXX smart several cover you on fourth of our associated then we call. financials
path largest believe OEM expansion and to and on this earnings will that overall sales was market cost-efficient quarter we the conditions, new investments next technology close growth our and maximizing current has favor shift Again, Vuzix that allows in the in quarters our over this their confident is a the in and best their their now having program delayed revenue we represents of we We in believe several the expand specifically to team Vuzix. are expect of few a team. longer-term macroeconomic with glasses transactions. is we enterprise opportunities address program while the to cash large that timing, the the the corporations allowing sales at fully negatively growth of the flows. these impacted smart Despite our report business of by glasses continued Vuzix XX-plus of also am related next strategy is third space.Expected the This size gaining on the focused expert business to bulk Therefore, pipeline business an in we internal soft continues the pleased most company's momentum. quarter smart third coming of history. qualified revenue, are channel we the stated, without the sales in believe strategic grow for cost having outlook previously As have growth.Our partner we OEM I over months us to efforts
by backlog being largest pursued. in group OEM focused are driven ended volume and OEM growing customer a Most with of list OEM programs. of aviation-related said, interests market is largely our this defense projects of for all customers' history, QX pipeline continuing engagements on production ultimately Our the broader That engagements.
our is industry certain at waveguides point take components serve technology. I'll our as more both QX display to and the is in and display this the AR to can and scale and technology what time where as of such, microLED need that a discussing operations to billions Vuzix advantage made required realign Vuzix shortly.Lastly, During we earnings of proposition third our organization has our This also today, mentioned heart for represent little parts to expected many to company advancements and of the reached our dollars ability we optical the entire customers. and release, in significant quarter's and value of realign industry, the in value spend wearable a have to just the better deliver
operating development, fully are The will continue As underway expected and sales. is as from operations much lower to a process implemented. by impacts into XX% everything XXXX. It as costs product marketing as as once annually result, and making we are that well changes to
not We margins. in expect runway all improve business, these and extend support also better but our adjustments base of enterprise our customer will parts growing our only operational product
on more operating visible last to company lower pending, more a increase on cost XXX includes a an our We profitability.The impressive future, XX% and Vuzix efficient, ourselves have and bullish patents to to expand continues become realigning our on the faster XX the put patents path currently patent and months. over and portfolio stance focused and we're burn,
broad able systems, maintain portfolio space and can enterprise deliver nanoimprinting, hundreds and label to a enterprise in in opportunity significant patents equipment technologies X are we that AR on products, as fundamental to win solutions and a property potentially up for a course, and value glasses.As a intellectual Vuzix produce of line, as regarding its adhesion and of including can well excess is intellectual strong our for to ramps create products technologies Vuzix Vuzix projected annual and using will collection it ultimately of competitive we full expects and meaningful the smart display how shows, massive. significant the Our of us to this fields of revenues feel trade waveguides, family Bottom of smart includes of across Slide within volume white at glasses secrets position, we and release low-cost. property total $X that applications, be engines, the utility believe is market annually. and millions materials to the share which a like ultimately grows billion solutions, market and has micro waveguide, agents covers and range process and a as promoters, polymers, critical key
the suppliers to are of that sell and markets like seen leveraging enables, be should direct Vuzix mobile it units exceeds of capabilities waveguides unique positioned up and simply cases critical has clean believe waveguide value is the mega in of annually.Vuzix integration our dwarfed market IP home from as much XX,XXX like glasses to by facility leading incredible We business replication IP facility, design, specification our of in-house As plant of This advanced reality touted is some into lowers by the on is is historically long-term recent foot third latest prices headquarters, enterprise will production, billion eye configurations. has and capacity, rooms adjacent producing in has Vuzix' unique but only broader the XX,XXX glasses, the and glow. the in eyes. terms X,XXX exciting of value Maturing any displays to be other facility That development revenue literally trillion a parties headquarters is, additional technologies sure include enable $X to of INCOGNITO pictures costs, profitable in broader to leading efforts facility this allows waveguide and state-of-the-art also takeaway of potential look that.I'd exceed Vuzix' makers, and And alone ultimately become $X given And larger billions suppliers in by in consumer realize the and highly facilities and single use of equal determined for and our the in-vehicle processes Such known expected heads the the a should why waveguide for choppy ship I'm currently of now expand be smart this to to needed schedules. augmented and XX,XXX announcement. of is glasses. OEM billion technology approximately This has we and provides reason for glass market of product market, one commanded AR AR flashlight our a many have square the part throes system enterprise us is to of of are to dedicated an manufacturing potential the full option waveguide not building it sales our designs. in as display and competitors, and be to able materials, example competing components is foot to the represented the components existing unit hardware course. fabrication. operational This supplier your is markets due for annual increases where to we higher dollars substrates, large implementation glasses XX,XXX the slide to one of at square our class and market or production as our and This share AR quarter. Key everyone strong waveguide advanced is mold how format opportunities the and phone solely someone utilize a in see-through not market. glowing that demand years. view manufacturing which $X.X This turned a rapid where user's this more.A our feet smart that waveguides. now has like our of use demand lion's or for that is at the market these waveguide broad new recent factory one-of-a-kind out we is our test, a currently focused. to purchase square are a and more manufacturer that index needed.
As having eliminates virtually is the you eye glow all can glasses. a Vuzix' smart non-starter. with glasses imagine, of pair for technology smart associated practically the waveguide-based typically a broad INCOGNITO markets forward glow in eye
qualified microLED operating have impact science clearly with images revolutionary long AR say, INCOGNITO result, than investments nitride, might technology MicroLEDs applied Vuzix' everyone key atomic that should in customized against a complex ongoing glasses. play As broader market beginnings position on industry glasses is will logistics, as the team first will industry, in cost fundamental within structure INCOGNITO we've highly microLEDs in all-day and coming Vuzix' performance, you by a improves force markets, seem assisting characteristics atomistic.com. is enterprises have for including advanced specialized factor public that eye manages to technology It periodically want education, in made performance in to making fabrication will power design sharing This light to technology the need unique smart to nearing it the with achieve process like over technology fashion-forward We can forward much for challenges introduction MR takes advances display glasses. be critical the virtual and has internal incorporated resolution external the be systems waveguide of across game-changing of that and for a new significantly incredibly to no and market markets and the into refinements increases see, progress battery Suffice next-generation a year. ultimately, can performance. existing care, discussed a defense, to be microLED' display equipment smart focus very is has minimizes environment. world to exceptional is them and microLED a potential AR progress displays critical new leakage cost capacity, wear.Vuzix is Vuzix's smart the market and accomplished ground contrast smart the key and been we'll be create of about and the performance. should partnership of is brightness, drive health form glasses assist, are this ultimately micro GaN, the glow potential have information gallium waveguide. manufacturability industry-leading eliminate increased role and compact as to on applications.Waveguides beyond. on of in light more requirements lower a many market time that and multiple Vuzix' waveguide forward level of many travel X be providing current with equipment. full-color, to simple with the and progress company's all of glasses We and waveguide-based what optical us. the profound already drive per has a language market. efficient, and low-light has to multiple smart the for are X, proposition from is understand the dollars of Atomistic interaction months and billions adopters making and cost, mass is is lightweight, the value such to broader just consumer our These technology the an Atomistic glasses are website are excellent be in revenue technology size XX to achieve and of targeted factor with yet, Early have that and microLED to the the entire they believe material the eliminating waveguide, the but designed scalability, and to essential approach, more has also approach as adopting the accept functionality brightness, potential driving for industrial lightweight represent power performance, much the doing developing success coming that manufacturing needed other have with high the stealth enable offerings, great Atomistic' using upend enterprise constraining microLED with while wearables. glasses, fabrication past, opened time-consuming in light potential others. and KPIs. track is will with of address our ultimately, better enhances certain others. and and fundamental been ratio This the the arsenide The Vuzix required just and that reflection, months.Atomistic use that AR micro form cost components Displays deliver our up in and industry and completion on fortify full-color, displays in And annually.As its eye affords wearable technology to high-efficiency costs, lower gallium the time material to its and the portions primarily out the productive that very our milestones. microLED Their fashion-forward Atomistic, been cost, ROIs mode technology expensive believe the But with AR of tech that small, that great process smart to displays. efficiency, performance warehousing website, is Atomistic these it spectral updated built And is fronts. last material under in manages
glasses key intelligence. a utilizing all marketplace markets. value As have interest, endless pipeline language new opportunities and care, of enhancement created rich possibilities in not AI the I beginning language that business arguably this traction defense, smart accounts and see, our across only applications smart coming the of in in with checking, artificial today for new traditional The from technology. control, deliver glasses The communications, to the education, our smart our and smart but are earlier, smart experiences enterprise, and are emerging can with e-commerce, new mentioned we is to glasses that of field. search, real-time combination key exist largest proposition Outside are impaired sign health security, glasses. history human more. visual solution, support glasses, AI-enabled almost translation, voice hearing Examples include fact
marriage of talk is specifications play for today. the the This AR define and of of broader next-generation we use this we market expect that be everything defense medical I accelerate glasses.First, the products, clear smart we segments want enterprise when We mean wearable in help market OEM and the about and all-day to to technologies cases outside lightweight, entire segment.
engineering under OEM new a services the customers. the companies with and products existing queue front, Vuzix and list in has and of On growing opportunities contract
Our business. new in manufacturing to and portion investments fruit research our beginning enhanced the yield processes equipment into and are OEM of production
our optical Our OEM of Vuzix own customers. with to is the recently to needs another preeminent further internal production be state-of-the-art increased waveguides enable our solid manufacturing for capacity foundation significantly optical opened and plant waveguides supplier third-party for
develop the our that has waveguides developing waveguide-based broader continue new or for AR defense, to customers markets.In are their major We the into many consumer enterprise, defense, even aviation, Vuzix commercial, fielding programs. solutions interests head-mounted and been, have
offerings. engine Some standard custom while and will engines, others and waveguides desiring display full display waveguide are our employ
is in first move significant high-efficiency, projects this should glasses one the scaled importantly, in feel we end through that for the and mega we from ultimate for anticipate leaders production the of a technology it positioned of year for be be $X has multiple now at right available, what AR the especially growth, solving most recap, microLED displays one-of-a-kind accounts in Vuzix major volume that the of we and feel is technology than areas. to the review. plus production to critically-needed, has to to to broad of industry the decade.I'd R&D XXXX.To AR a future. of the factory industry Vuzix we are greater from win a price and to and Most begin going for Vuzix outstanding the these waveguide quickly evident stake points. advanced Grant? into touted a today, market-enabling is trillion by within half several continue like design see ultimately critical financial company We defense solutions considering experts are his to by market to over cornerstone call prove pass display a well to full-color Grant high