Innovative Eyewear annual sales surge on new launches

Innovative Eyewear Inc. announced on Tuesday a 42 percent surge in sales for the full-year 2024 to $1.6 million, as the smart eyewear manufacturer rolled out some key product launches during the 12 months.

The Miami-based company witnessed an increase in unit sales volume for the year ending December 31, largely driven by product launches of the co-branded Nautica Powered by Lucyd and Eddie Bauer Powered by Lucyd collections, as well as the Lucyd Armor safety smart glasses line.

Revenues were also spurred on by investments in marketing and advertising, as well as increased public interest and growth in smart glasses and the wearable products category, said the company in a statement.

Despite the sales progression, the company said net losses widened to $7.8 million or a loss of $5.19 per share for the year, compared with a net loss of $6.7 million, or a loss of $10.87 per share.

​For the fourth quarter, revenue was $690,688, the company’s highest quarterly revenue since its inception, an increase of 12 percent.

“Our 2024 fourth quarter revenue was our best quarter yet, and we have continued the trend of outperforming sales each quarter on a year-over-year basis, for the last 18 months,” ​said Harrison Gross, CEO of Innovative Eyewear Inc., a developer of ChatGPT-enabled smart eyewear, under the Lucyd, Nautica, Eddie Bauer and Reebok brands.

“As we look ahead to 2025, we believe we are well positioned to build on our momentum and significantly grow both our total revenues and our market share. I am particularly excited about the potential of our upcoming Reebok product lines which we will be launching in 2025 coupled with the continued significant traction of the Lucyd Armor smart safety glasses.”