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ROCHESTER, N.Y. - Vuzix Corporation (NASDAQ:VUZI), whose stock has surged over 14% in the past week according to InvestingPro data, announced Monday the appointment of Dr. Chris Parkinson as President, Enterprise Solutions. Parkinson, who co-founded competitor RealWear, will oversee Vuzix’s enterprise product portfolio and go-to-market strategy.
With nearly three decades of experience in augmented reality, artificial intelligence, and speech-driven interfaces, Parkinson previously served as both Chief Technology Officer and CEO at RealWear, where he guided the company through international expansion and strategic acquisitions. The appointment comes as Vuzix maintains a strong balance sheet with more cash than debt and a healthy current ratio of 7.68x, according to InvestingPro data.
"Chris is one of the most respected and visionary executives in the smart glasses industry," said Paul Travers, President and Chief Executive Officer of Vuzix. "He not only co-founded RealWear, one of Vuzix’s key competitors in the enterprise space, but also grew it into a global leader by delivering nearly 100,000 enterprise smart glasses to 5,000+ customers."
In his new role, Parkinson will lead Vuzix’s enterprise business operations, including sales, strategic partnerships, customer adoption, and global channel expansion. This appointment allows Travers to focus more on waveguide and display technologies, according to the company’s press release.
"Vuzix has consistently been a leader for smart glasses innovation with its advanced, low-cost waveguide manufacturing," said Parkinson. "The opportunity to join this team and to work alongside Paul Travers, one of the true visionaries and builders in this space, was simply too compelling to pass up."
Vuzix develops AI-powered smart glasses, waveguides, and augmented reality technologies for defense and enterprise applications. The company holds more than 450 patents and pending patents in the fields of optics, head-mounted displays, and augmented reality wearables. While trading at a premium price-to-book ratio of 6.51x, InvestingPro analysis indicates the stock may be undervalued based on its Fair Value calculation. Subscribers can access 8 additional ProTips and comprehensive financial metrics in the Pro Research Report.
In other recent news, Vuzix Corporation reported its Q2 2025 earnings, revealing a net loss of $0.10 per share, which was slightly better than the anticipated loss of $0.12 per share. However, the company fell short of its revenue expectations, bringing in $1.3 million compared to the projected $1.54 million. In another development, Vuzix has appointed Chris Parkinson as the president of its Enterprise Solutions business unit. Dr. Parkinson’s compensation package includes an annual base salary of $360,000, participation in a bonus plan, and equity incentives contingent upon achieving specific revenue and EBITDA targets by 2028.
Additionally, Vuzix announced a change in its independent registered public accounting firm. Following the merger of Freed Maxick with Withum Smith+Brown, the latter has been appointed as Vuzix’s new auditor. Freed Maxick’s previous reports did not contain any adverse opinions, though the 2023 report included a note about concerns regarding Vuzix’s ability to continue as a going concern. These developments highlight significant changes and challenges for Vuzix as it navigates its financial and operational landscape.
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