Technology

Innovative Eyewear Inc. Reports Q1 2026 Unaudited Financial Results

Published

4 weeks ago

May 14, 2026

First Quarter Revenue Increased 70% Year Over Year

MIAMI, May 14, 2026 /PRNewswire/ — Innovative Eyewear Inc., (NASDAQ: LUCY, LUCYW), (“Innovative Eyewear” or the “Company”) the developer of smart eyewear under the Lucyd®, Lucyd Armor®, Reebok®, Nautica®, and Eddie Bauer® brands, today announced its unaudited financial results for the quarter ended March 31, 2026.

Net revenue for the three months ended March 31, 2026 (the “current quarter”) was $773,561, an increase of $319,060 or 70% from the three months ended March 31, 2025. The first quarter of 2026 marks the 11th consecutive quarter of year-over-year revenue growth. This top-line revenue growth was primarily driven by volume increases from sales of the Company’s highly successful Lucyd Armor® smart safety glasses, which represented approximately two-thirds of the Company’s total smartglass units sold in the current quarter.

The volume increases from Lucyd Armor® were partially offset by lower volumes in certain of the Company’s other smartglass product lines, reflecting a strategic realignment of the Company’s product mix. Specifically, the Company is intentionally shifting sales volume toward the higher-ROI Lucyd Armor® safety category; sunsetting certain prior-generation collections to make room for the recently launched Reebok® Powered by Lucyd optical collection for the wholesale channel; and the typical seasonal softness in the sports category during the winter months. In total, however, the year-over-year growth in revenue of 70% represents an acceleration from the full-year 2025 growth rate of approximately 63% and reflects continued positive momentum across the Company’s smart eyewear portfolio.

The Company also recognized $62,397 of other non-operating income during the current quarter, compared to $125,088 in the prior year quarter. These amounts were primarily comprised of dividends from investments in money market funds and interest income from investments in U.S. Treasury bills. The year-over-year decrease in such amounts was primarily due to lower dividend yields and interest rates in the current market and macroeconomic environment.

The Company aims to continue its revenue growth momentum supported by the following commercial initiatives currently in progress:

The Company is in the process of listing Lucyd Armor® for sale online with a major national retailer.The Company is beginning a pilot product launch with a top 5 national optical retailer.The Company is in negotiations with a major Canadian optical chain for a rollout of Lucyd Armor® in approximately 300 stores.The Company is in discussions with a major auto parts chain for a white-labeled Lucyd Armor product with the chain’s branding.A major energy sector company is conducting a pilot of Lucyd Armor® for workforce communication applications.The Company is in commercial discussions with a top 3 hardware retail chain regarding a potential online product listing.The Company recently completed onboarding with Newegg.com, a leading online retailer focused on consumer technology and electronics, with reported annual revenue of approximately $1.3 billion. The Company expects its products to go live on the Newegg platform later this month, expanding its online distribution reach and access to technology-focused consumers.

Also, during the first quarter of 2026, the Company received the prestigious Red Dot Award for Lucyd Armor®. The Red Dot Award recognizes the world’s leading products that demonstrate functional and aesthetic design excellence, and notable recipients of the award have included some of the world’s leading tech and consumer goods companies.

Gross profit margin for the first quarter of 2026 was 23%. This was slightly ahead of the Company’s gross profit margin for full fiscal year 2025 (21%) and the second half of fiscal year 2025 (22%). The prior-year comparison reflects an unusually elevated Q1 2025 gross profit margin of 49%, which was primarily attributable to the positive impact of one-off credits and inventory adjustments totaling approximately $132,000 and is not representative of the underlying run-rate gross margin for the business. The Company does not currently anticipate material changes in gross profit margins from current levels.

Total operating expenses in the first quarter of 2026 were $2,547,210, an increase of $422,886 or 20% from the prior year quarter. This increase was primarily driven by higher general and administrative expenses, which increased by $498,703 year-over-year primarily due to the combination of higher amounts paid to outside service providers for various corporate and compliance functions, and higher payments due under multi-year license agreements. Sales and marketing costs were essentially flat year-over-year, while research and development costs decreased by $72,467 from the first quarter of 2025, primarily driven by the timing of product development cycles.

The Company’s net loss for the first quarter of 2026 was $2,309,368 or $(0.37) per share, basic and diluted, compared with $1,778,703 or $(0.72) per share, basic and diluted, in the prior year’s quarter. Weighted average shares outstanding for the three months ended March 31, 2026 and 2025 were approximately 6.25 million and 2.45 million, respectively.

The Company ended the quarter with approximately $5.68 million of combined cash and cash equivalents and investments, compared with $6.51 million of combined cash and cash equivalents and investments as of December 31, 2025. Net working capital (current assets less current liabilities) was $7.66 million at March 31, 2026, and $8.39 million at December 31, 2025. The Company had no outstanding debt as of March 31, 2026, and long-term liabilities of only $0.02 million.

During the first quarter of 2026, the Company raised $1.41 million of net cash proceeds from equity offerings.

Harrison Gross, CEO of Innovative Eyewear Inc., commented, “I am very pleased by our strong start to the year, as exhibited by our ongoing and accelerating revenue growth. We intend to build on this momentum as we seek to drive further growth this year through ongoing discussions with prospective partners across the big box retail, traditional optical, hardware, automotive, industrial MRO distribution, and construction and logistics channels. We are receiving constructive feedback from key retail and optical accounts on our near-term product roadmap, and we are working to convert that engagement into incremental revenue. We are very optimistic about the growth of the smart eyewear category, the future of our Company and our outlook for 2026 and beyond.”

About Innovative Eyewear, Inc.

Innovative Eyewear is a developer of cutting-edge ChatGPT enabled smart eyewear, under the Lucyd®, Lucyd Armor®, Reebok®, Nautica®, and Eddie Bauer® brands. True to our mission to Upgrade Your Eyewear®, our Bluetooth smart glasses allow users to stay safely and ergonomically connected to their digital lives and are offered in hundreds of frame and lens combinations to meet the needs of the optical market. To learn more and explore our continuously evolving collection of smart eyewear, please visit www.lucyd.co.

Forward-Looking Statements

This press release contains certain forward-looking statements, including those relating to the Company’s business operations, projections, market position, revenue growth, commercial discussions, pipeline opportunities, prospective customers and channel partners, anticipated product launches and retail listings, future product lines and developments. Forward-looking statements are based on the Company’s current expectations and assumptions. The Private Securities Litigation Reform Act of 1995 provides a safe-harbor for forward-looking statements. These statements may be identified by the use of forward-looking expressions, including, but not limited to, “anticipate,” “believe,” “continue,” “estimate,” “expect,” “future,” “intend,” “may,” “outlook,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. Commercial discussions described in this release have not resulted in definitive agreements and there can be no assurance that any such discussions will result in executed agreements or generate revenue on the timing or in the volumes described, or at all. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company’s filings with the Securities and Exchange Commission, including its annual report on Form 10-K under the caption “Risk Factors.”

Investor Relations Contact:
Scott Powell
Skyline Corporate Communications Group, LLC
Telephone: +1 (646) 893-5835
Email: IR@skylineccg.com

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SOURCE Innovative Eyewear, Inc.

Technology

MGI Tech Showcases Expanding Genomics Ecosystem at ESHG 2026 with New IVD Partnering Program and OEM Collaborations

Published

4 hours ago

June 13, 2026

GOTHENBURG, Sweden, June 13, 2026 /PRNewswire/ — MGI Tech Co., Ltd. (MGI), a company committed to developing core tools and technologies that drive innovation in life sciences, is showcasing its latest advancements in sequencing, automation and clinical genomics at the European Society of Human Genetics (ESHG) 2026 Conference in Gothenburg, Sweden.

At Booth 352, MGI welcomes researchers, clinicians, laboratory leaders and industry partners to explore its comprehensive portfolio of sequencing and automation solutions while unveiling new initiatives designed to strengthen collaboration across the genomics ecosystem.

Advancing Clinical Genomics Through Partnership

A key highlight of ESHG 2026 is the launch of the MGI NGS Partner Enablement Program, a new initiative designed to connect diagnostic developers, assay providers and laboratory partners seeking to build validated clinical workflows on MGI sequencing platforms.

The program aims to accelerate the development and adoption of regulated next-generation sequencing (NGS) applications by fostering collaborations that simplify workflow implementation, reduce time-to-market and support broader access to precision medicine solutions.

“Clinical genomics is increasingly dependent on strong partnerships across the value chain,” said Fang Chen, General Manager Europe & Africa at MGI. “With the launch of our NGS Partner Enablement Program, we are creating a collaborative framework that brings together assay developers, software providers, automation partners and clinical laboratories to accelerate access to high-quality genomic testing.”

Expanding Automation Capabilities Through OEM Collaborations

At ESHG 2026, MGI is also announcing new Original Equipment Manufacturer (OEM) partnership opportunities on MGI’s DE Bundles (integrated library preparation and sequencing platform), bringing turnkey automation to global partners. The DE Bundle includes the current D4+E25 combination, as well as the new D16 paired with the E25 featuring a new 50M flow cell.

The D16, which will be launched later this year, is a benchtop, mid-to-low throughput library prep system and the upgraded successor to the D4. Retaining the fully enclosed contamination control system, it integrates a single-channel robotic pipetting module to maximize automation. With two sample preparation cartridges each processing 8 samples, the D16 delivers significantly higher throughput. The D16 and E25 systems provide flexible and scalable automation solutions for library construction, sequencing, bioinformatics analysis, streamlining the entire laboratory workflow.

Through this open OEM framework, MGI is enabling customers and solution providers to integrate proven automation technologies into customized workflows tailored to specific clinical and research applications. The OEM program reflects MGI’s commitment to building an open ecosystem that empowers laboratories to increase efficiency, improve standardization and accelerate scientific discovery.

“We are excited to expand the opportunities available to our OEM partners by providing access to the D16 platform, enabling the development of truly walkaway solutions that simplify and automate complex laboratory workflows,” said Wim Vervaeke, OEM Director at Europe & Africa at MGI. “Our innovations, including the PrepALL, E25, and G99, have already sparked new partnerships across the life sciences ecosystem. By combining MGI’s automation expertise with the specialized capabilities of our partners, we are creating integrated solutions that deliver maximum value, efficiency, and convenience for end users.”

Corporate Satellite Symposium Highlights Clinical Genomics, Precision Oncology and Spatial Multi-Omics

As part of ESHG 2026, MGI hosted its Corporate Satellite Symposium, Advancing Diagnostics: From Clinical Implementation to Biomarker Discovery, bringing together leading experts from across Europe to showcase how advanced genomic technologies are being translated into real-world clinical and research impact. The symposium highlighted applications spanning clinical oncology diagnostics, pharmacogenomics, and spatial multi-omics.

Dr. Raquel T. Lima from IPATIMUP (Portugal) presented the clinical value of RNA sequencing for detecting actionable gene fusions in solid tumours, improving diagnostic yield and supporting precision oncology decision-making. Prof. Dr. Andreas Braun from University Hospital Schleswig-Holstein (Germany) shared how spatial biology technologies map the tumour microenvironment in melanoma, revealing tumour heterogeneity, cellular interactions, and mechanisms associated with disease progression and treatment response. Dr. Andrea Conti from BMR Genomics (Italy) explored the opportunities of whole genome sequencing for pharmacogenetic marker evaluation, highlighting how comprehensive genomic approaches can support the implementation of personalised medicine through improved identification of clinically relevant variants.

Together, the presentations demonstrated how genomic and multi-omics technologies are advancing clinical diagnostics, translational oncology research, and precision medicine, while highlighting the growing role of sequencing in delivering actionable insights across healthcare and biomedical research.

Comprehensive Solutions for Genomics and Multi-Omics Research

Visitors to the MGI booth can explore the company’s comprehensive portfolio of sequencing and automation technologies supporting applications across human genetics, oncology, reproductive health, population genomics and multi-omics research.

Highlighting strong market adoption, MGI is showcasing the T7+, its ultra-high-throughput sequencing platform at the conference. Following its official launch for the Europe and Africa region at Analytica 2026 in Munich, the T7+ has gained significant momentum, with 27 units installed worldwide as of the end of 2025. From benchtop to ultra-high-throughput sequencing platforms, as well as advanced laboratory automation solutions, MGI continues to support laboratories seeking high-performance, scalable and cost-effective genomics workflows.

“Our mission extends beyond delivering innovative technologies,” said Dr. Christian Zimmerman, VP Sales Europe & Africa at MGI. “We are focused on building a complete ecosystem that enables our customers to transition seamlessly from research to clinical implementation. The partnerships and initiatives we are launching at ESHG 2026 demonstrate our commitment to making genomic technologies more accessible, integrated and impactful.”

Driving the Future of Precision Medicine in Europe

Europe remains a strategic region for MGI, with growing adoption of genomic technologies across research institutions, healthcare systems and national population initiatives.

Through continued investment in sequencing innovation, automation, clinical partnerships and collaborative ecosystem development, MGI is helping accelerate the transition toward more precise, data-driven healthcare.

As genomics increasingly becomes integrated into routine clinical practice, MGI remains committed to providing the technologies and partnerships necessary to support the next generation of precision medicine.

About MGI

MGI Tech Co., Ltd. (or its subsidiaries, together referred to as MGI) is committed to building core tools and technologies that drive innovation in life science. Our focus lies in research & development, manufacturing, and sales of instruments, reagents, and related products in the field of life science and biotechnology. We provide real-time, multi-omics, and a full spectrum of digital equipment and systems for precision medicine, agriculture, healthcare, and various other industries.

Founded in 2016, MGI has grown into a leader in life science, serving customers across six continents and establishing research, manufacturing, training, and after-sales service facilities globally. As one of the few companies capable of independently developing and mass-producing clinical-grade gene sequencers, MGI empowers global users with scalable sequencing capabilities ranging from Gb to Tb levels. MGI also stands out as one of the only providers of a full-stack product portfolio that spans three core segments: SEQ ALL (short- and long-read sequencing), GLI (Generative Lab Intelligence), and Multi-Omics. With unparalleled expertise, cutting-edge products, and a commitment to global impact, MGI continues to shape the trajectory of life sciences into the future.

To learn more, please visit MGI Tech, LinkedIn, X, Instagram, and YouTube.

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Technology

VEVOR Launches “Beat the Heat at Home” Summer Comfort Lineup for Outdoor Living

Published

7 hours ago

June 13, 2026

HOUSTON, June 13, 2026 /PRNewswire/ — As summer temperatures climb, staying cool at home shouldn’t require a sky-high electric bill, a cooler full of gas-station ice, or a contractor booked out until September. A smarter approach is gaining traction among American families: investing in the right tools to make outdoor living genuinely comfortable without the premium price tag. VEVOR — a trusted home improvement brand serving over 30 million home creators worldwide — today launches “Beat the Heat at Home,” a summer comfort lineup featuring shade, ice-making, and airflow solutions that deliver pro-level performance so your backyard truly becomes the place to be this summer.

“Summer comfort is not only about staying cool — it is about making outdoor spaces easier to enjoy,” said Gavin Wu, Brand Director at VEVOR. “With this lineup, VEVOR brings pro-level performance into practical home scenarios, helping Home Creators upgrade their backyards, patios, garages, and hosting spaces at exceptional value.”

Cool Living, Cold Drinks, Total Comfort
For most families, a truly comfortable summer day comes down to three things: a shady spot, a steady supply of ice-cold drinks, and enough airflow to keep the evening from feeling stagnant. Traditional solutions — pergolas, commercial ice machines, wired-in fans — often cost thousands or require contractors.

To bridge this gap, VEVOR’s Annual Big Summer Sale officially introduces the “Beat the Heat” collection. Together, the lineup addresses three common summer comfort needs: shade, ice, and airflow, so every corner of the backyard is covered. By delivering pro-level performance in effortless, budget-friendly setups, VEVOR offers Home Creators the ultimate plug-and-play summer cooling experience, making premium seasonal comfort accessible right out of the box.

Create Shade in Minutes
There’s a specific moment every summer host knows too well: the sun shifts, the one shady corner disappears, and suddenly everyone is squinting, relocating chairs, or retreating indoors altogether. It’s the kind of small frustration that quietly ruins an otherwise perfect afternoon.

VEVOR’s Pop-Up Canopy Gazebo was designed for exactly that moment. Available in 10×10, 11.5×11.5, and 12×12 ft configurations, it turns any open stretch of lawn or driveway into a comfortable, shaded gathering space — and it does so in minutes — designed for tool-free setup from the start. The mesh sidewalls earn their keep once evening arrives: mosquitoes stay out while the breeze still flows through, which means dinner can linger as long as the conversation does.

It’s not a permanent structure, and that’s the point. When the season changes or the party moves, the canopy folds back down just as quickly. For homeowners who want shade on their terms, not on a contractor’s timeline, it offers a flexible alternative to permanent shade structures.

Never Run Out of Ice
Few things signal “this gathering is winding down” faster than reaching into a cooler and finding nothing but lukewarm water and half-melted slush. Bags of store-bought ice solve the problem temporarily, but anyone who has made two mid-party runs to the gas station knows the drill gets old fast.

VEVOR’s Commercial Ice Maker Machine helps home hosts keep up with high-demand summer gatherings. Producing up to 130 lbs of ice every 24 hours and holding 33 lbs in its built-in storage bin, it keeps pace with a full afternoon of refills — lemonade pitchers, cocktail shakers, coolers for the kids’ juice boxes, all of it. The stainless-steel build looks at home in a garage bar or outdoor kitchen, and one-touch self-cleaning means maintenance is measured in button presses, not scrub sessions.

Keep the Air Moving
Anyone who has spent a July evening on a covered porch knows the paradox: the roof blocks the sun, but it also traps every degree of rising heat with nowhere to go. The air sits heavy, the ceiling feels lower than it is, and even a beautiful outdoor space starts to feel like something you’d rather admire from behind a glass door with the AC running inside.

VEVOR’s 18-Inch Wall-Mount Fan was built for exactly these in-between spaces that central air can’t reach and a tabletop fan can’t handle. Three-speed settings push up to 4,150 CFM of airflow across patios, enclosed porches, workshops, and garage gyms. That’s the kind of serious air movement that makes a covered space feel open again. With ETL certification and weather-resistant construction, it is designed for covered or semi-outdoor spaces where moisture and humidity are common.

Mounted on the wall and out of the way, it doesn’t eat into floor space or crowd a table. For households looking to cut back on running central AC in every room all day, a well-placed fan in the spaces where the family actually gathers is often the simplest and most cost-effective first step.

The deals are live — don’t leave them on the table.

Cool your summer now: vevor.com/summer-cooling

Shop VEVOR’s Summer Sale: vevor.com/summer-sale

Visit in person: VEVOR Houston Store: 10951 Farm to Market 1960 Road W, Houston

Summer won’t wait. Neither should your backyard. More deals, more summer-ready upgrades — all waiting for you.

About VEVOR
Pro-Level Performance Without the Pro-Level Price. VEVOR is a home improvement brand built for Home Creators who want to upgrade their spaces with practical, high-performing products at exceptional value. From outdoor living and tools to home improvement equipment and everyday project essentials, VEVOR helps people take on upgrades with confidence, efficiency, and value.

Today, VEVOR operates in over 50 countries, supported by a network of 200+ global warehouses and a catalog of more than 15,000 SKUs spanning tools, outdoor equipment, and home improvement solutions. VEVOR has supported over 30 million Home Creators worldwide, bringing performance, inspiration, and value to their home improvement projects. For more information, visit www.vevor.com. VEVOR products are also available on Amazon.

Media Contact
VEVOR Communications Team
media@vevor.com

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SOURCE VEVOR

Technology

YEEDI Delivers Lowest-Ever Pricing on Self-Cleaning Roller Mop Robot Vacuums With Early Prime Day Deals

Published

7 hours ago

June 13, 2026

Starting June 13, M14 PLUS and S14 PLUS Drop to $399.99, Bringing Advanced Self-Cleaning Roller Mop Technology Into the Sub-$400 Segment

SAN FRANCISCO, June 13, 2026 /PRNewswire/ — YEEDI, a home cleaning technology brand focused on practical innovation and high-performance smart home solutions, is kicking off Prime Day early by offering its M14 PLUS and S14 PLUS at their lowest prices ever. Starting June 13, both self-cleaning roller mop robot vacuums are available for just $399.99, allowing shoppers to secure Prime Day pricing ahead of the broader promotional event.

The promotion marks a significant milestone for the category, bringing advanced self-cleaning roller mop technology into the sub-$400 segment and making one of the industry’s most sought-after cleaning innovations more accessible than ever before. As part of YEEDI’s “Less Time Cleaning. More Time Playing.” campaign, inspired by a summer of sports, family moments, and everyday adventures, the brand aims to help consumers spend less time on household chores and more time enjoying the moments that matter most. Complete offer details are available at YEEDI.com.

Bringing Premium Roller Mop Technology to More Homes

Roller mop technology has emerged as one of the most significant innovations in robotic floor cleaning, offering continuous scrubbing performance while automatically cleaning the mop during operation. However, robot vacuums equipped with self-cleaning roller systems have traditionally remained concentrated in premium price segments.

By bringing the M14 PLUS and S14 PLUS to $399.99, YEEDI is expanding access to one of the industry’s most advanced floor-cleaning technologies and establishing a new affordability benchmark for self-cleaning roller mop robot vacuums.

YEEDI M14 PLUS Reaches Its Lowest Price Ever

Available for $399.99 (regularly $599.99), the YEEDI M14 PLUS combines the brand’s OZMO Roller mopping technology with ZeroTangle anti-tangle technology to deliver powerful wet and dry cleaning while minimizing maintenance.

The robot is paired with an automated OMNI Station that handles dust collection, hot-water mop washing, and hot-air drying, reducing the need for manual upkeep. Designed for busy households seeking a hands-free cleaning experience, the M14 PLUS now offers premium functionality at an unprecedented value.

YEEDI S14 PLUS Delivers Flagship Cleaning at 67% Off

Available for $399.99 (regularly $1,199.99), the YEEDI S14 PLUS reaches its lowest price in history and represents one of the most compelling values in the premium robot vacuum category.

Winner of the CES 2025 Indoor Cleaning Technology Innovation Gold Award, the S14 PLUS combines YEEDI’s advanced OZMO Roller system and TruEdge 2.0 Adaptive Edge Cleaning technology for enhanced stain removal and edge-to-edge coverage.

Equipped with 18,000 Pa suction power and ZeroTangle 2.0 technology, the S14 PLUS delivers a flagship cleaning experience at a price point rarely seen in the premium robot vacuum market.

More Prime Day Deals Arrive June 23–26

Following the early access promotion, YEEDI will extend Prime Day deals across a broader selection of robot vacuums from June 23 through June 26, giving consumers even more opportunities to upgrade their home cleaning experience.

Featured offers include the YEEDI M16 Infinity at $449.99 (44% off), the YEEDI S20 Infinity at $699.99, the YEEDI S20 Infinity Ultra at $849.99, and the YEEDI S16 PLUS at $449.99. YEEDI will also introduce two new models: the M12 PRO Gen2 at an introductory price of $339.99 and the C14 PRO PLUS at $279.99.

Consumers can visit YEEDI.com to explore full Prime Day deals, and discover how YEEDI’s smart cleaning technology helps them spend less time cleaning and more time enjoying everyday life.

About YEEDI

YEEDI is a home cleaning technology brand dedicated to making advanced robotic vacuum technology practical, reliable, and accessible for everyday households. Guided by its philosophy of Accessible Innovation, YEEDI focuses on delivering powerful, user-friendly cleaning solutions that prioritize real-world usability, low maintenance, and long-term value.

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SOURCE YEEDI Technology