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Innovative Eyewear Inc. Reports Q1 2025 Unaudited Financial Results
Revenue and gross margins improvements
MIAMI, May 13, 2025 /PRNewswire/ -- Innovative Eyewear Inc., (NASDAQ: LUCY, LUCYW), the developer of smart eyewear under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands, today announced its Q1 2025 Unaudited financial results.
Net revenue for the quarter ended March 31, 2025 was $454,501 an increase of 19% from revenue of $383,471 in the quarter ended March 31, 2024. This increase was primarily attributable to growth in unit sales volume, largely driven by product launches during 2024 of the co-branded Nautica® Powered by Lucyd and Eddie Bauer® Powered by Lucyd collections, as well as the Lucyd Armor safety smart glasses line. Also contributing to the growth in revenues were the Company's continued investments in marketing and advertising initiatives, as well as increased public interest and growth in smart glasses and the wearable products category. This growth preceded the launch of Reebok® by Lucyd in April 2025.
Gross profit margin for Q1 2025 was 49%, compared with 2% for Q1 2024, driven by lower cost of frames and lower prescription lens fulfilment cost. The decrease in the cost of frames as compared to the prior year quarter was primarily attributable to the combination of realization of greater economies of scale and improvements in product price/mix. The decrease in lens fulfilment costs was attributable to actions taken by management in the prior year to better manage these costs including the launch of Lucyd Shift and Lucyd Blueshift transitional lenses in place of branded third-party transitional lenses and the engagement of a new lower-cost lens supplier based in Miami, Florida.
Total operating expenses in Q1 2025 were $2,124,324, a 11% percent increase from total operating expenses of $2,021,542 in Q1 2024. Total operating and other expenses have remained relatively consistent between these periods.
The Company had a net loss in Q1 2025 of $1,778,703, or $(0.72) per share, compared with a net loss of $1,971,311, or $(2.59) per share, in Q1 2024.
These results reflect a tightening business operation that is finding its footing in an emerging sector, and prioritizing efficiency and operational sustainability.
We believe that the success of the Lucyd Armor product line to date indicates that that delivering smart eyewear for specific user niches can be a significant differentiator. With our experience developing dozens of SKUs (stock-keeping units) of smart eyewear, we are well positioned to address specific user needs in the sport, safety, and general optical categories. In April 2025, we launched the Reebok® Powered by Lucyd sport smart sunglasses collection in eight different styles. This collection features custom high-fidelity speakers, powerful amplifiers, and equalizers specifically tuned for outdoor activities and sports environments. In order to support the launch and expansion of our Reebok® Powered by Lucyd and Lucyd Armor lines, we have recently expanded our sales team with the addition of two new sales directors, who have significant experience in optical sales and hardware sales.
Harrison Gross, CEO of Innovative Eyewear Inc., commented,
"Our 2025 first quarter revenue reflects our continued investments in product lines, marketing and advertising initiatives, as well as increased public interest and growth in smart glasses. We are also happy to see our efforts to improve gross margins bear effect. As we look ahead to the rest of 2025, we believe we are well positioned to build on our momentum and significantly grow total revenues and market share. I am particularly excited about the potential of our newly launched Reebok® product line, which expanded our portfolio to include smart glasses for active lifestyles, coupled with the continued significant traction of the Lucyd ArmorTM smart safety glasses. Both product lines address vast subsets of the eyewear market which were previously underserved by smart eyewear providers."
About Innovative Eyewear, Inc.
Innovative Eyewear is a developer of cutting-edge ChatGPT enabled smart eyewear, under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands. True to our mission to Upgrade Your Eyewear®, our Bluetooth audio glasses allow users to stay safely and ergonomically connected to their digital lives and are offered in hundreds of frame and lens combinations to meet the needs of the optical market. To learn more and explore our continuously evolving collection of smart eyewear, please visit www.lucyd.co.
Forward-Looking Statements
This press release contains certain forward-looking statements, including those relating to the Company's business operations, projections, market position, introduction of future product lines and developments. Forward-looking statements are based on the Company's current expectations and assumptions. The Private Securities Litigation Reform Act of 1995 provides a safe-harbor for forward-looking statements. These statements may be identified by the use of forward-looking expressions, including, but not limited to, "anticipate," "believe," "continue," "estimate," "expect," "future," "intend," "may," "outlook," "plan," "potential," "predict," "project," "should," "will," "would" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 10-K under the caption "Risk Factors."
Investor Relations Contact:
Scott Powell
INV4
3 meses hace
Nice news!
Innovative Eyewear enters EU market, receives EU Certification for Lucyd Armor Safety Glasses
April 10, 2025
MIAMI, April 10, 2025 /PRNewswire/ -- Innovative Eyewear, Inc. (NASDAQ: LUCY | LUCYW), the developer of smart eyewear under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands, today announces that its Lucyd Armor™ smart safety glasses have been certified to meet European Union EN 166:2002 safety standards for workplace use.
Lucyd Armor has been a vital addition to the lineup of smart eyewear products produced by the Company, and since launching in Q4 2024 has quickly grown to become the Company's fastest selling unit. The addition of the EU certification opens important European markets for the Lucyd Armor product, in addition to the US, Canadian and UK certifications which the Company has received. Lucyd Armor is unique on the market as the first smart safety glass with photochromic lenses, a full suite of smart features including a Walkie function, high-fidelity audio and Rx-adaptable lenses.
The safety eyewear market in Europe was $1.3b in 2024 and expected to reach a projected revenue of US$ 1.6b by 2030 with a compound annual growth rate of 3.5% from 2025 to 2030.1 Based on the feedback we received from potential customers at Vision Expo and the National Hardware Show, the Company is in discussions with a notable eyewear distributor to offer Lucyd Armor in Europe, and distributors for the Company's other frames in Asia and LATAM.
The Company believes international expansion centered on the Armor and pending Reebok Powered by Lucyd collection will be foundational to its growth efforts in 2025, particularly in the wake of current US tariff situation. Goods shipped from the Company's manufacturing facilities in China directly to distributors, retailers and retail customers outside the US are not subject to US tariffs, and the Company believes it will have the opportunity to create a stronger footprint as there is less competition in markets outside the US, where smart eyewear is newer to market and tends to be available from fewer quality providers.
The Company plans to introduce additional variants of Lucyd Armor later this year, including sunglass and full-range prescription versions, to complement the original photochromic lens version.
Lucyd Armor™ Highlights:
• The first smart safety glass for all-day wear providing eye protection and communication in one convenient device.
• Lightweight and flexible TR90 body for rugged durability.
• Open-ear audio technology with impressive sound for high-octane environments.
• Seamless voice assistant integration, including ChatGPT, empowering users with hands-free AI access.
• Streamlined touch controls for quick and easy call and music management.
• Built-in Walkie features for global VOIP conferencing with teammates.
Lucyd Armor aims to transform how teams communicate in any environment, from factories to construction sites and everything in between.
"Lucyd Armor™ has quickly grown to become our bestselling product, thanks to the unique mix of functionality, style and affordability it brings to the safety market. Unlike many of our other products which may be perceived as a "nice-to-have" upgrade, Lucyd Armor is unique among smart eyewear in that we believe it is a new "need-to-have" tool for working professionals worldwide, who need eye protection as well as handsfree comms and AI access. We look forward to working with hardware distributors and retailers to bring this new technology to hardworking folks across America, Europe and beyond," said Harrison Gross, CEO of Innovative Eyewear.
Availability
Lucyd Armor is available now on Lucyd.co in a variety of standard lenses and in prescriptions ranging from SPH -3 to +8. The product is also available on Amazon.
About Innovative Eyewear, Inc.
Innovative Eyewear is a developer of cutting-edge ChatGPT enabled smart eyewear, under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands. True to our mission to Upgrade Your Eyewear®, our Bluetooth audio glasses allow users to stay safely and ergonomically connected to their digital lives and are offered in hundreds of frame and lens combinations to meet the needs of the optical market. To learn more and explore our continuously evolving collection of smart eyewear, please visit www.lucyd.co.
https://ih.advfn.com/stock-market/NASDAQ/innovative-eyewear-LUCY/stock-news/95822864/innovative-eyewear-enters-eu-market-receives-eu-c
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subslover
8 meses hace
News
Innovative Eyewear Launches First ANSI-Certified Smart Safety Glasses for All-day Wear
Revolutionary Eyewear Integrates Advanced AI Features with Certified Safety Standards for Industrial Use
MIAMI, Oct. 29, 2024 /PRNewswire/ -- Innovative Eyewear, Inc. (NASDAQ: LUCY; LUCYW), the developer of ChatGPT-enabled smart eyewear under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands, announces today that it has officially launched Lucyd Armor™—the world's first smart safety eyewear in a lightweight, affordable and prescription-ready form factor, and meeting the ANSI Z87.1 standard for workplace safety use. Designed for professionals in many different environments from industrial, to logistics, to medical, Lucyd Armor combines certified eye protection with advanced technology to enhance communications, information access and awareness in the workplace.
The ANSI Z87.1 standard is a safety guideline for protective eyewear, ensuring it is strong enough to shield the eyes from hazards like debris, chemicals, or dust. It tests safety glasses and goggles for impact resistance and protection in dangerous environments. The Company has also filed design and utility patents on the product.
Lucyd Armor is a category-defining smart safety glass that offers ANSI Z87.1-certified protection alongside instant ChatGPT access, auto-tinting lenses, a walkie-talkie VOIP feature, and a form factor similar to stylish sport wrap-around glasses. Whether working in construction, logistics, healthcare, or utility industries, professionals can benefit from protective and productivity-enhancing technologies that boost overall efficiency while allowing them to stay connected throughout the workday.
Key Features of Lucyd Armor:
AI-Powered Integration: Gain instant access to Siri, Google Voice and ChatGPT for hands-free information, instructions, and communication, via Bluetooth 5.3 connection.
All-Day Comfort and Durability: The lightweight, one-size-fits-all design features adjustable silicone nose pads and no-slip flexible temples, ensuring secure and comfortable wear during long shifts. Patent-pending touch controls enable full use of the glasses with sweaty or gloved hands.
Adaptive Lenses: Photochromic lenses that adapt to changing light conditions, with anti-fog and anti-scratch coatings for superior visibility, which are included at no extra cost. Additional prescription and lens upgrades can be purchased here from Lucyd.co.
8-Hour Battery Life: Enjoy long-lasting battery with up to 8 hours of continuous music playback or 100+ hours of standby time for notifications and alerts.
In addition to these features, Lucyd Armor's open-ear audio system, AI-powered noise reduction microphones, and Bluetooth 5.3 connectivity provide workers with the convenience to take calls, access smart features and AI information, and listen to audio instructions while remaining aware of their surroundings. One of the standout features of Lucyd Armor is the walkie-talkie function, accessible via the Lucyd App, which facilitates enhanced team communication without requiring additional devices.
"Lucyd Armor sets a new standard in protective eyewear," said Harrison Gross, CEO of Innovative Eyewear, Inc. "We've combined cutting-edge technology with rigorous safety standards to offer professionals a smarter, more efficient way to stay protected on the job. This launch reflects our vision to lead the evolution of wearable tech in industries where safety and performance go hand in hand. It's time to Upgrade Your Eyewear® with Lucyd Armor™ – there is nothing quite like it for working men and women."
The Company is already in discussion with several notable retailers about launching the Armor product in brick and mortar locations. Lucyd Armor is officially available for purchase on Innovative Eyewear's Lucyd.co website, bringing unparalleled protection and connectivity directly to your fingertips. Secure your pair today and experience the intersection of safety and innovation.
About Innovative Eyewear Inc.
Innovative Eyewear is a developer and retailer of ChatGPT smart eyewear, under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands. True to our mission to Upgrade Your Eyewear®, our Bluetooth smart glasses allow users to stay safely and ergonomically connected to their digital lives, and are offered in hundreds of frame and lens combinations to meet the needs of the optical market. To learn more and explore our continuously evolving collection of smart eyewear, please visit www.lucyd.co.
Forward Looking Statements
This press release contains certain forward-looking statements, including those relating to the anticipated introduction of new products and features, and timing of improvements and enhancements to our current products. Forward-looking statements are based on the Company's current expectations and assumptions. The Private Securities Litigation Reform Act of 1995 provides a safe-harbor for forward-looking statements. These statements may be identified by the use of forward-looking expressions, including, but not limited to, "anticipate," "believe," "continue," "estimate," "expect," "future," "intend," "may," "outlook," "plan," "potential," "predict," "project," "should," "will," "would" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, statements regarding the expected launch date for the new smart safety eyewear connection. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 10-K under the caption "Risk Factors."
Media Contact:
Sai Main
Email: press@society22pr.com
Investor Relations Contact:
Scott Powell
Skyline Corporate Communications Group, LLC
Office: +1 (646) 893-5835
Email: scott@skylineccg.com
https://c212.net/c/img/favicon.png?sn=FL42528&sd=2024-10-29 View original content to download multimedia:https://www.prnewswire.com/news-releases/innovative-eyewear-launches-first-ansi-certified-smart-safety-glasses-for-all-day-wear-302289328.html
SOURCE Innovative Eyewear, Inc.
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tw0122
8 meses hace
Time to get out $9.31
nnovative Eyewear Launches First ANSI-Certified Smart Safety Glasses for All-day WearOctober 29 2024 - 8:30AM
PR Newswire (US)Revolutionary Eyewear Integrates Advanced AI Features with Certified Safety Standards for Industrial UseMIAMI, Oct. 29, 2024 /PRNewswire/ -- Innovative Eyewear, Inc. (NASDAQ: LUCY; LUCYW), the developer of ChatGPT-enabled smart eyewear under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands, announces today that it has officially launched Lucyd Armor™—the world's first smart safety eyewear in a lightweight, affordable and prescription-ready form factor, and meeting the ANSI Z87.1 standard for workplace safety use. Designed for professionals in many different environments from industrial, to logistics, to medical, Lucyd Armor combines certified eye protection with advanced technology to enhance communications, information access and awareness in the workplace.The ANSI Z87.1 standard is a safety guideline for protective eyewear, ensuring it is strong enough to shield the eyes from hazards like debris, chemicals, or dust. It tests safety glasses and goggles for impact resistance and protection in dangerous environments. The Company has also filed design and utility patents on the product.Lucyd Armor is a category-defining smart safety glass that offers ANSI Z87.1-certified protection alongside instant ChatGPT access, auto-tinting lenses, a walkie-talkie VOIP feature, and a form factor similar to stylish sport wrap-around glasses. Whether working in construction, logistics, healthcare, or utility industries, professionals can benefit from protective and productivity-enhancing technologies that boost overall efficiency while allowing them to stay connected throughout the workday.Key Features of Lucyd Armor:AI-Powered Integration: Gain instant access to Siri, Google Voice and ChatGPT for hands-free information, instructions, and communication, via Bluetooth 5.3 connection.All-Day Comfort and Durability: The lightweight, one-size-fits-all design features adjustable silicone nose pads and no-slip flexible temples, ensuring secure and comfortable wear during long shifts. Patent-pending touch controls enable full use of the glasses with sweaty or gloved hands.Adaptive Lenses: Photochromic lenses that adapt to changing light conditions, with anti-fog and anti-scratch coatings for superior visibility, which are included at no extra cost. Additional prescription and lens upgrades can be purchased here from Lucyd.co.8-Hour Battery Life: Enjoy long-lasting battery with up to 8 hours of continuous music playback or 100+ hours of standby time for notifications and alerts.In addition to these features, Lucyd Armor's open-ear audio system, AI-powered noise reduction microphones, and Bluetooth 5.3 connectivity provide workers with the convenience to take calls, access smart features and AI information, and listen to audio instructions while remaining aware of their surroundings. One of the standout features of Lucyd Armor is the walkie-talkie function, accessible via the Lucyd App, which facilitates enhanced team communication without requiring additional devices."Lucyd Armor sets a new standard in protective eyewear," said Harrison Gross, CEO of Innovative Eyewear, Inc. "We've combined cutting-edge technology with rigorous safety standards to offer professionals a smarter, more efficient way to stay protected on the job. This launch reflects our vision to lead the evolution of wearable tech in industries where safety and performance go hand in hand. It's time to Upgrade Your Eyewear® with Lucyd Armor™ – there is nothing quite like it for working men and women."The Company is already in discussion with several notable retailers about launching the Armor product in brick and mortar locations. Lucyd Armor is officially available for purchase on Innovative Eyewear's Lucyd.co website, bringing unparalleled protection and connectivity directly to your fingertips. Secure your pair today and experience the intersection of safety and innovation.
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