Quarterly ResultMay 14, 2026, 04:06 PM
Innovative Eyewear Q1 Revenue +70% to $773.6K; Net Loss $(2.31)M
AI Summary
Innovative Eyewear Inc. reported a significant 70% increase in net revenues to $773,561 for the first quarter of 2026 compared to the same period in 2025. Despite this strong top-line growth, the company's net loss widened to $(2,309,368) from $(1,778,703) year-over-year, and the gross profit margin decreased to 23% from 49%. The company raised approximately $1.41 million in net proceeds from at-the-market offerings and is pursuing further revenue growth through new product launches and retail partnerships.
Key Highlights
- Net revenues for Q1 2026 increased 70% to $773,561 compared to Q1 2025.
- Net loss for Q1 2026 was $(2,309,368), widening from $(1,778,703) in Q1 2025.
- Loss per share for Q1 2026 was $(0.37), an improvement from $(0.72) in Q1 2025.
- Gross profit margin for Q1 2026 was 23%, down from 49% in Q1 2025.
- Cash and cash equivalents were $4,378,144 as of March 31, 2026.
- The company raised $1,411,455 in net proceeds from at-the-market offerings in Q1 2026.
- Total operating expenses increased 20% to $(2,547,210) in Q1 2026.
- Total assets were $9,480,359 as of March 31, 2026.