Lucyd (LUCY) Q4 2025 earnings summary

Executive summary

• Revenue grew 63% year-over-year to $2.67 million, driven by strong sales of Lucyd Armor smart safety glasses and the launch of the Reebok Powered by Lucyd collection.

• Fourth quarter 2025 net revenue reached $0.96 million, the highest quarterly sales since inception.

• Net loss for 2025 was $7.59 million, slightly improved from $7.77 million in 2024, reflecting ongoing investment in growth.

Financial highlights

• Gross profit margin improved to 21% from 13% in 2024, aided by lower sourcing costs and partially offset by tariffs and inventory provisions.

• Operating expenses rose 11% to $9.06 million, mainly due to higher employee compensation and license fees.

• Other non-operating income of $0.90 million included a $0.57 million legal settlement and investment income.

• Ended 2025 with $6.51 million in cash, cash equivalents, and investments; no debt outstanding.

Outlook and guidance

• Management expects to build on momentum from successful product lines and international expansion, aiming for further revenue growth in 2026 and beyond.