Vuzix Corporation (NASDAQ:VUZI) Q3 2023 Earnings Call Transcript

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Christian Schwab: Okay, I guess, you know, following up on the answer there, I guess it wasn’t clear to me, given the broad set of opportunities then. So if we’re narrowing our focus and not trying to be all things to all people, what should investors focus on? What is the one or two applications or one or two customer segments that you anticipate to drive revenue growth in calendar ’24. I understand the OEM push-outs. I’m not talking about that. I’m talking about, you know, where the smart glasses are going to be used to drive revenue growth?

Paul Travers: In healthcare, yep, in healthcare. In healthcare, in remote support applications, in warehousing, and finally there’s a new category that’s coming on board that is part of this AI world, where there’s a handful of companies that are using our glasses to help with hearing impaired. And so it’s a medical device that’s a replacement for hearing aids and the like, and for people who need sign language kinds of support. And it’s a big marketplace. Just in the veterans of the world in America, there are 3.5 half million folks that have hearing impairment problems. And these glasses work way better than hearing aids for people that have bad enough, severe enough hearing impairments. So the medical side of our business is happening all over the place with the companies like [Pixie] (ph)and Proximie and Roger Cones and the likes the business is it just keeps going and it’s exciting and then the warehouse inside of the business we have a large number of companies that are going beyond pilots now.

They are deploying. It’s just, you know, it’s taking a little bit longer as usual, which is frustrating in that side of the space. But you’ll see it there. So those are the three or four areas that we’re focused on right now to make it happen.

Christian Schwab: Great. Thank you for that. No other questions.

Paul Travers: I will add, Christian, just because you asked, on the side of the OEM business, defense, aviation, wireless carriers, glasses companies, and then finally the broader markets. And this one is so much easier to address for Vuzix because it’s lots of inbound. You know, very few trade shows are needed. People know that we’re doing this now. It’s outreach that can be done direct. So it’s a very inexpensive marketing and sales side of the business to address those markets.

Christian Schwab: Great, thanks.

Paul Travers: You bet.

Operator: Thank you. Ladies and gentlemen, there are no further questions. I’d like to turn the call back to Paul Travers for closing remarks.

Paul Travers: I would like to thank everyone for your interest and participation on today’s calls. There’s going to be a lot of exciting developments and news in the coming months. Between now and the first quarter of next year, there’s often lots of things. There’s a pile, a slew more that are going on around things like our OEM business and some of our select partners that we’re going to be able to share much more with. So please stay tuned. It should be an exciting month and a half to let’s say three or four months. Thank you. Have a good evening everybody.

Operator: This concludes today’s conference. You may disconnect your lines at this time. Thank you for your participation.

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