Lucyd smart eyewear drives revenue surge for Innovative Eyewear

Innovative Eyewear Inc. has reported significant revenue growth for the second quarter of 2025, driven by the success of its new smart eyewear products. The company's net revenue for the quarter was 0.58 million dollars, marking an 88 percent increase compared to the same period in 2024. This growth was fuelled by strong consumer demand for the Lucyd Armor smart safety glasses and the newly launched Reebok Powered by Lucyd collection. The Lucyd Armor product line, in particular, accounted for nearly half of the company's total units sold during the quarter.

Despite the strong sales performance, the company's gross profit margin for the quarter was negative 2 percent, a decrease from 18 percent in the same period last year. This decline was primarily attributed to significantly higher tariffs, customs duties, and import costs. In response, the company is implementing a multi-pronged strategy to mitigate the impact of these costs, including diversifying its logistics network, expanding sales outside the U.S., and making mild price increases on custom lenses.

Innovative Eyewear announced several key milestones during the quarter, including a partnership with Smartech Retail Group to showcase its products at a new flagship store in Times Square, New York City. The company also partnered with EyeRecommend to distribute its smart eyewear to over 600 independent optometry stores across Canada.

In a statement, CEO Harrison Gross expressed optimism about the company's future, noting that sales growth "materially outpaced" the 6 percent increase in operating expenses. He stated that the company is "well positioned to build on our momentum and significantly grow both revenue and market share" in the second half of 2025.

For the second quarter, the company's net loss was 2.11. The company's cash and cash equivalents increased to $8,912,645 by the end of the quarter, an increase primarily due to warrant exercises and other equity transactions.