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NEW YORK - Innovative Eyewear, Inc. (NASDAQ:LUCY), a manufacturer of smart eyewear under multiple brands including Lucyd and Reebok, reported an 88% increase in quarterly revenue to $579,230 for the second quarter ended June 30, 2025, compared to the same period last year.
The company’s six-month revenue reached $1,033,731, representing a 49% increase from the first half of 2024, according to a press release statement. The growth was primarily driven by the Lucyd Armor smart safety glasses launched in October 2024 and the Reebok Powered by Lucyd collection introduced in April 2025.
Despite the revenue growth, Innovative Eyewear reported a quarterly net loss of $2,106,094, or $0.66 per share, compared to a loss of $1,948,399, or $1.87 per share, in the second quarter of 2024. The company attributed the 8% larger loss mainly to significantly higher custom duties, tariffs, and importation costs.
Gross profit margin for the quarter was -2%, down from 18% in the same period last year, while operating expenses increased by approximately 6%.
The company ended the quarter with $8,912,645 in combined cash, cash equivalents, and investments, up from $7,524,171 as of December 31, 2024, primarily due to warrant exercises and other equity transactions.
During the quarter, Innovative Eyewear announced partnerships with Smartech Retail Group to showcase its products at a flagship store in Times Square, New York City, and with EyeRecommend to provide its smart eyewear to more than 600 independent optometry stores across Canada.
Tekcapital plc (AIM:TEK), a UK intellectual property investment group, currently owns 259,455 shares of Innovative Eyewear.
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