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Vuzix Augmented Reality Is Bringing The Future of Smart Glasses

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Vuzix Augmented Reality Is Bringing The Future of Smart Glasses

Augmented Reality (AR) had its grand debut among consumers with the infamous Google Inc. (NASDAQ: GOOG) smart glasses "GLASS." At that moment, the company caught the attention of many who wanted to experience AR glasses. However, GLASS went under the radar as Google stopped producing them, and many thought this trend would likely take off later.

For many, it seems like smart glasses disappeared. However, what many don't know is that they have been for a while now on several tech companies' agendas such as Apple Inc. (NASDAQ: AAPL), Facebook Inc. (NASDAQ: FB), Microsoft Corporation (NASDAQ: MSFT), Lenovo Gr. (OTC: LNVGF) and Google Inc., among others. In fact, you'd be surprised to know they are a great asset for many corporations, airports, doctors and even hospitals. 

Vuzix® Corp. (NASDAQ: VUZI), a supplier of smart glasses and AR technology products with 179 patents and patents pending as well as numerous IP licenses in the video eyewear field, has been part of the many recent accelerated advances in AR. In fact, its products are being used in airports such as Singapore Changi since 2018, and have made significant contributions in the delivery of medical services in the current health crisis. This is what you need to know.

Vuzix Augmented Reality Smart Glasses Solution For Orthopedic Surgery – Knee Replacement.

In June 2020, the first AR knee and total knee replacement were completed in Paris guided by the Pixee Medical AR navigation system running on Vuzix M400 smart glasses. Subsequently, over the past 7 months, more than 40 surgeries have been completed in different hospitals and clinics across Europe with Vuzix smart glasses and Pixee Medical AR. 

Currently, Vuzix smart glasses are used in places such as the University of Lousiville School of Medicine, Johns Hopkins Hospital ICU, Barcelona Hospital Surgeons, Ohana One International Surgical Aid and Education, University of Rochester Medical Center, University Malaya Specialist Centre (UMSC), Chi-Mei Medical Center in Taiwan and Istanbul University Faculty of Dentistry.

Additionally, in July 2020, Vuzix smart glasses implemented changes to improve a more comfortable use of Zoom Video Communications Inc. (NASDAQ: ZM) through its Zoom Connector app

I've Seen The Future – Vuzix's Next Generation Smart Glasses

During the latest CES 2021, Vuzix got a lot of buzz with its next-generation smart glasses. While Vuzix equipped countless businesses with the technology needed to navigate 2020, the company was recognized for a product that had not debuted yet. The smart glasses manufacturer and developer took home the awards for Computer Peripherals & Accessories, Portable Media Players & Accessories, and Wearable Technologies at this year's event for its upcoming products.

Vuzix NGSG will launch in the 2nd half of 2021 and will allow users to connect hands-free with the digital world. The fashion-forward device is aimed at the consumer market and will likely accelerate Smart Glasses' adoption. Its features include:

  • A transparent 3D display
  • Hands-free voice commands
  • Gesture controls
  • Industry-leading waveguide optics

Vuzix Corporate Highlights 

Its next-generation smart glasses (NGSG) will enter with a multi-year agreement with Jade Bird Display, a Shanghai-based leader in microLED displays, to collaborate on the co-development and cross-supply of solutions incorporating superbright microLED display engines and Vuzix waveguides. 

In addition, in January 2021 Vuzix reported its preliminary unaudited sales for the 4th quarter of 2020 and an update on its cash position. Fourth-quarter 2020 revenue represented a new quarterly revenue record for the company: 

  • Revenue increased more than 100% year-over-year to over $4.0 million, versus $1.96 million for the Q4 of 2019, comfortably exceeding the Wall Street consensus Q4 revenue estimate of $3.5 million by analysts following the company. 
  • Cash exercises of 5,962,571 warrants representing total proceeds of $28.6 million have been received over the last 30 days, bringing the company's pro forma cash balance, based on the company's last reported cash position of $24.9 million in its 10-Q as of September 30, 2020, to approximately $53.5 million, without accounting for negative cash flows incurred from operations since such date. 

Yesterday, the company announced a strategic partnership with Rods & Cones, a provider of a fully virtual surgical-collaboration platform. Rods & Cones will add the M-Series smart glasses as an additional video capturing device to support optimized remote interactions between surgeons and experts.

 

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