Lucyd (LUCY) investor relations material

Executive summary

• Revenues for Q2 2026 increased 74% year-over-year, with H1 2026 revenues up 73% compared to H1 2025, driven by strong unit growth in Lucyd Armor and Reebok smartglasses, and the launch of the Reebok optical collection.

• Gross profit margin rebounded to 24% in Q2 2026 from -2% in Q2 2025, reflecting successful mitigation of tariff impacts and improved sourcing costs.

• Operating expenses decreased 10% in Q2 2026 year-over-year, with R&D costs down significantly due to product development timing, while G&A rose for the six-month period due to higher license payments.

• The company expects further revenue growth in H2 2026, supported by new product launches, expanded retail partnerships, and a growing wholesale channel.

Financial highlights

• Q2 2026 revenues: $1.01M (+74% YoY); H1 2026 revenues: $1.78M (+73% YoY).

• Q2 2026 gross profit: $242K (24% margin); H1 2026 gross profit: $418K (23% margin).

• Q2 2026 net loss: $(1.67)M; H1 2026 net loss: $(3.98)M.

• Operating expenses Q2 2026: $1.95M (-10% YoY); H1 2026: $4.49M (+5% YoY).

• Cash and cash equivalents at June 30, 2026: $2.5M; total liquidity (including investments): $3.7M.

Outlook and guidance

• Management anticipates continued revenue growth in H2 2026, driven by new product launches and expanded retail partnerships, including a major rollout with FYidoctors in Canada and a test with a major U.S. retailer.

• Wholesale channel is expected to become a larger share of revenue over time, with e-commerce remaining significant in the near term.

• Gross profit margins are expected to remain stable, with further cost reductions targeted through product mix optimization and economies of scale.