Company: VUZI
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001558370-25-007368
Chunk: 1

Company: Vuzix Corp
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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Item 1: Consolidated Financial Statements

VUZIX CORPORATION

CONSOLIDATED BALANCE SHEETS

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​​​​​​​​​(Unaudited)    ​​​​March 31, ​December 31,​    2025    2024ASSETS ​   ​  Current Assets ​   ​  Cash and Cash Equivalents​$ 15,231,001​$ 18,186,506Accounts Receivable, net of allowance for credit losses of $89,000 at March 31, 2025 and December 31, 2024.​  1,434,235​  1,609,718Accrued Revenues in Excess of Billings​  308,566​  673,498Inventories, Net​  4,276,123​  4,813,226Manufacturing Vendor Prepayments​  227,576​  372,081Prepaid Expenses and Other Assets​  907,765​  1,067,461​​​​​​​Total Current Assets​  22,385,266​  26,722,490​​​​​​​Long-Term Assets​   ​   Fixed Assets, Net​  8,398,574​  7,584,284Operating Lease Right-of-Use Asset​​ 359,443​​ 494,236Patents and Trademarks, Net​  3,055,302​  2,998,760Technology Licenses, Net​  710,775​  761,043Other Assets, Net​  852,778​  844,445​​​​​​​Total Assets​$ 35,762,138​$ 39,405,258​​​​​​​LIABILITIES AND STOCKHOLDERS' EQUITY​ ​​   Current Liabilities​   ​   Accounts Payable​$ 1,521,201​$ 538,221Unearned Revenue​  108,702​  125,901Accrued Expenses​  863,608​  945,752Income and Other Taxes Payable​  62,551​  8,163Operating Lease Right-of-Use Liability​​ 359,443​​ 494,236​​​​​​​Total Current Liabilities​  2,915,505​