Innovative Eyewear, Inc.
Description
Innovative Eyewear, Inc. develops and sells smart eyeglasses and sunglasses. The company's flagship product is Lucyd Lyte glasses that enable the wearer to listen to music, take and make calls, and use voice assistants and ChatGPT to perform various smartphone tasks hands-free. It also offers smart eyewear under the Lyte XL brand; and Nautica Powered by Lucyd smart eyewear collection and various branded accessories, including a power brick, cleaning cloth, and a slipcase adorned. In addition, the company provides Vyrb, a social media application that enables the user to receive and send posts through Lucyd Lyte smart glasses with an individual's voice; and Lucyd app for iOS and Android to provide voice access to ChatGPT in Lucyd eyewear. It sells its products through various e-commerce and retail channels. Innovative Eyewear, Inc. has a license agreement with Lucyd Ltd. The company was incorporated in 2019 and is headquartered in North Miami, Florida.
About
CEO
Mr. Harrison Reed Gross
Employees
11
Instrument type
Common Stock
Sector
Healthcare
Industry
Medical Instruments & Supplies
MIC code
XNCM
Address
11900 Biscayne Boulevard, North Miami, FL 33181, United States
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![Enlarged Chart]()
Oscillators
No data available
Summary
No data available
Moving Averages
No data available
Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Nov 13, 2024 | -1.60 | -0.99 | 0.61 | -38.12% |
| Aug 13, 2024 | -1.60 | -1.87 | -0.27 | 16.88% |
| May 14, 2024 | -0.17 | -0.15 | 0.02 | -11.76% |
| Mar 25, 2024 | -0.14 | -0.19 | -0.05 | 35.71% |
| Nov 15, 2023 | -0.14 | -0.12 | 0.02 | -14.29% |
Earnings estimate
|
Next Quarter
(Mar 2025)
|
Next Year
(Dec 2025)
|
|||
|---|---|---|---|---|
| Number of analysts | — | 1 | — | 1 |
| Average estimate | — | -0.96 | — | -2.71 |
| Low estimate | — | -0.96 | — | -2.71 |
| High estimate | — | -0.96 | — | -2.71 |
| Last year EPS | — | -3.00 | — | -7.06 |
[stock_revenue_estimate]
Growth estimates
Current qtr
—
Next qtr. (Mar 2025)
68.000%
Current year
—
Next year (Dec 2025)
61.610%
Next 5 years (per annum)
—
Past 5 years (per annum)
—
Income statement
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total reported revenue | 1.15M | 659,788 | 690,670 | 56,997 | 4,821 |
| Cost of revenue | 1.27M | 716,077 | 542,416 | 74,266 | 7,735 |
| Gross profit | -119,329 | -56,289 | 148,254 | -17,269 | -2,914 |
| Operating expense | |||||
| Research & development | 662,184 | 524,692 | 86,261 | 36,894 | 4,083 |
| Selling general and admin | 5.93M | 4.86M | 3.16M | 468,846 | 46,322 |
| Other operating expenses | 140,000 | 140,000 | 109,975 | 130,000 | 56,108 |
| Operating income | -6.86M | -5.58M | -3.21M | -653,009 | -109,427 |
| Non operating interest income | |||||
| Income | — | — | — | — | — |
| Expense | 3,036 | 105,171 | 39,433 | 4,966 | — |
| Other income expense | 195,150 | — | — | -110,209 | — |
| Pretax income | -6.66M | -5.68M | -3.24M | -768,184 | -109,427 |
| Tax provision | — | — | — | — | — |
| Net income | -6.66M | -5.68M | -3.24M | -768,184 | -109,427 |
| Basic EPS | -12.60 | -17.40 | -8.41 | -2.10 | -0.36 |
| Diluted EPS | -12.60 | -17.40 | -8.41 | -2.10 | -0.36 |
| Basic average shares | 525,799 | 326,447 | 385,859 | 365,357 | 303,009 |
| Diluted average shares | 525,799 | 326,447 | 385,859 | 365,357 | 303,009 |
| EBITDA | -6.58M | -5.54M | -3.20M | -649,895 | -109,427 |
| Net income from continuing op. | -6.66M | -5.68M | -3.24M | -768,184 | -109,427 |
| Minority interests | — | — | — | — | — |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | 6.22M | 4.69M | 824,317 | 211,016 | — |
| Current assets | |||||
| Cash | — | — | — | — | — |
| Cash equivalents | — | — | — | — | — |
| Cash and cash equivalents | 4.29M | 3.59M | 79,727 | 27,023 | — |
| Other short term investments | — | — | — | — | — |
| Accounts receivable | 93,211 | 110,258 | 43,394 | — | — |
| Other receivables | — | — | — | — | — |
| Inventory | 533,239 | 94,701 | 275,501 | 4,040 | — |
| Prepaid assets | 637,168 | 408,423 | 133,096 | 110,740 | — |
| Restricted cash | — | — | — | — | — |
| Assets held for sale | — | — | — | — | — |
| Hedging assets | — | — | — | — | — |
| Other current assets | 59,447 | 36,240 | 1,460 | — | — |
| Non current assets | |||||
| Properties | 127,333 | 63,395 | 18,120 | — | — |
| Land and improvements | — | — | — | — | — |
| Machinery furniture equipment | 86,492 | 78,949 | 2,662 | — | — |
| Construction in progress | — | — | — | — | — |
| Leases | — | — | — | — | — |
| Accumulated depreciation | -80,977 | -22,599 | -498 | — | — |
| Goodwill | 396,502 | 247,630 | 159,706 | 69,213 | — |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | 396,502 | 247,630 | 159,706 | 69,213 | — |
| Investments and advances | — | — | — | — | — |
| Other non current assets | 72,644 | 81,779 | — | — | — |
| Total liabilities | 659,936 | 665,455 | 616,801 | 765,853 | 483,825 |
| Current liabilities | |||||
| Accounts payable | 581,986 | 275,660 | 167,050 | 51,410 | — |
| Accrued expenses | — | — | — | — | — |
| Short term debt | — | 61,356 | 289,029 | 599,542 | — |
| Deferred revenue | 42,500 | 30,000 | — | — | — |
| Tax payable | — | — | — | — | — |
| Pensions | — | — | — | — | — |
| Other current liabilities | — | — | — | — | — |
| Non current liabilities | |||||
| Long term debt | — | — | — | — | — |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | — | — | — | — | — |
| Derivative product liabilities | — | — | — | — | — |
| Other non current liabilities | — | — | — | — | — |
| Shareholders equity | |||||
| Common stock | 129 | 73 | 60 | 41 | — |
| Retained earnings | -16.97M | -10.31M | -4.62M | -1.38M | -611,464 |
| Other shareholders equity | — | — | — | — | — |
| Total shareholders equity | 5.56M | 4.02M | 207,516 | -554,837 | -483,825 |
| Additional paid in capital | 22.53M | 14.33M | 4.84M | 845,417 | 127,639 |
| Treasury stock | — | — | — | — | — |
| Minority interest | — | — | — | — | — |
Cash flow statement
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | -6.66M | -5.68M | -3.24M | -768,184 | -109,427 |
| Depreciation | 85,257 | 32,567 | 7,677 | 994 | — |
| Deferred Taxes | — | — | — | — | — |
| Stock-Based Compensation | 936,769 | 1.47M | 1.33M | 81,645 | — |
| Other Non-Cash Items | 302,097 | 1.07M | 868,869 | 541,177 | 109,427 |
| Accounts Receivable | -3,678 | -183,094 | -43,394 | — | — |
| Accounts Payable | — | — | — | — | — |
| Other Assets & Liabilities | -560,430 | 26,656 | -251,896 | -29,668 | — |
| Operating Cash Flow | -5.90M | -3.27M | -1.33M | -174,036 | — |
| Investing Activities | |||||
| Capital Expenditures | -76,513 | -121,561 | -20,782 | — | — |
| Net Intangibles | -173,036 | -60,717 | -25,272 | -59,039 | — |
| Net Acquisitions | — | — | — | — | — |
| Purchase of Investments | -1.95M | — | — | — | — |
| Sale of Investments | 2.00M | — | — | — | — |
| Investing Cash Flow | -25,717 | -121,561 | -20,782 | — | — |
| Financing Activities | |||||
| Long-Term Debt Issuance | — | — | — | — | — |
| Long-Term Debt Payments | -109,499 | -653,000 | -57,185 | — | — |
| Other Financing Charges | -490,163 | 6,684 | -111,149 | — | — |
| Financing Cash Flow | 3.52M | 6.96M | 1.39M | 126,325 | — |
| Other Cash Details | |||||
| End Cash Position | 4.29M | 3.59M | 79,727 | 27,023 | — |
| Income Tax Paid | — | — | — | — | — |
| Interest Paid | — | — | — | — | — |
| Free Cash Flow | -6.02M | -3.44M | -1.33M | -99,302 | — |
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Article
Innovative Eyewear Takes Center Stage at MIDO 2025 with Reebok Smart Eyewear Line Launch
MIAMI , Feb. 5, 2025 /PRNewswire/ -- Innovative Eyewear, Inc. (Nasdaq: LUCY; LUCYW), the developer of ChatGPT-enabled smart eyewear under the Lucyd®, Nautica®, Eddie Bauer ® and Reebok® brands, is pleased to announce its participation in MIDO 2025, the world's leading eyewear exhibition, from February 8th to 10th in Milan, Italy. This event is an invitation for all to witness the worldwide debut of our Reebok Smart Eyewear line, crafted for active and connected lifestyles.
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Innovative Eyewear Announces Key Retail Partnership with Micro Center
MIAMI , Jan. 30, 2025 /PRNewswire/ -- Innovative Eyewear, Inc. (NASDAQ: LUCY; LUCYW), the developer of ChatGPT-enabled smart eyewear under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands, announced today that the Company has partnered with Micro CenterTM, one of the leading tech retailers in the United States, to expand its retail reach and bring Lucyd smart eyewear in stores nationwide and online at https://www.microcenter.com/. In addition to selling Lucyd smart eyewear, Micro Center will be onboarding Lucyd's customizable interactive displays in-store, to deliver a more engaging and informative customer experience, and to enhance sell through.
Jan 30, 2025
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Innovative Eyewear Announces Lucyd Armor™ Safety Certification for Canada
MIAMI , Jan. 16, 2025 /PRNewswire/ -- Innovative Eyewear, Inc. (NASDAQ: LUCY; LUCYW), the developer of ChatGPT-enabled smart eyewear under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands, today announces that its groundbreaking Lucyd Armor™ smart safety glasses have received CAN/CSA Z94.3:20 safety certification. Lucyd Armor can now be sold in Canada as a certified safety glass for workplace use.
Jan 16, 2025
