Introduction to Augmented Reality Smart Glasses
Augmented Reality (AR) had its grand debut amongst consumers with the infamous Google Inc. smart glasses "GLASS." At that moment, the corporate caught the eye of many who desired to experience AR glasses. However, GLASS went under the radar as Google stopped producing them, and plenty of thought this trend would likely take off later.
The Resurgence of Smart Glasses
For many, it looks like smart glasses disappeared. However, what many do not know is that they’ve been on several tech firms’ agendas, reminiscent of Apple Inc., Facebook Inc., Microsoft Corporation, Lenovo Gr., and Google Inc., amongst others. In fact, you would be surprised to know they’re an awesome asset for a lot of corporations, airports, doctors, and even hospitals.
Vuzix Corporation: A Leader in AR Technology
Vuzix Corp., a supplier of smart glasses and AR technology products with 179 patents and patents pending, in addition to quite a few IP licenses within the video eyewear field, has been a part of the numerous recent accelerated advances in AR. In fact, its products are getting used in airports reminiscent of Singapore Changi since 2018, and have made significant contributions within the delivery of medical services in the present health crisis.
Vuzix Augmented Reality Smart Glasses in Orthopedic Surgery
In June 2020, the primary AR knee and total knee substitute were accomplished in Paris guided by the Pixee Medical AR navigation system running on Vuzix M400 smart glasses. Subsequently, over the past 7 months, greater than 40 surgeries have been accomplished in several hospitals and clinics across Europe with Vuzix smart glasses and Pixee Medical AR.
Vuzix Smart Glasses in Various Medical Institutions
Currently, Vuzix smart glasses are utilized in places reminiscent of the University of Louisville 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.
Next-Generation Smart Glasses
During the newest CES 2021, Vuzix got plenty of buzz with its next-generation smart glasses. While Vuzix equipped countless businesses with the technology needed to navigate 2020, the corporate 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 yr’s event for its upcoming products.
Features of Vuzix Next-Generation Smart Glasses
Vuzix NGSG will launch within the 2nd half of 2021 and can allow users to attach hands-free with the digital world. The fashion-forward device is aimed toward the buyer market and can likely speed up Smart Glasses’ adoption. Its features include 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.
Vuzix Corporate Highlights
In addition, in January 2021 Vuzix reported its preliminary unaudited sales for the 4th quarter of 2020 and an update on its money position. Fourth-quarter 2020 revenue represented a brand new quarterly revenue record for the corporate:
- Revenue increased greater 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 corporate.
- Cash exercises of 5,962,571 warrants representing total proceeds of $28.6 million have been received during the last 30 days, bringing the corporate’s pro forma money balance, based on the corporate’s last reported money position of $24.9 million in its 10-Q as of September 30, 2020, to roughly $53.5 million, without accounting for negative money flows incurred from operations since such date.
Recent Partnership and Future Prospects
Yesterday, the corporate announced a strategic partnership with Rods & Cones, a provider of a completely virtual surgical-collaboration platform. Rods & Cones will add the M-Series smart glasses as a further video capturing device to support optimized distant interactions between surgeons and experts.
Conclusion
In conclusion, Vuzix Corporation is a frontrunner in the sphere of AR technology, with its smart glasses getting used in various medical institutions and airports. The company’s next-generation smart glasses are expected to revolutionize the buyer market, and its recent partnership with Rods & Cones is a testament to its commitment to innovation and growth. With its strong financial position and cutting-edge technology, Vuzix is poised to make a big impact on this planet of augmented reality.
