Innovative Eyewear Inc LUCY
We develop and sell cutting-edge smart eyewear – including prescription eyeglasses, ready-to-wear sunglasses, safety glasses, and sport glasses – that is designed to allow our customers to remain connected to their digital lives.
Founded and headquartered in Miami, Florida, we were initially organized as a Florida limited liability company effective August 15, 2019. On March 26, 2020, we converted from a Florida limited liability company into a Florida corporation.
We were founded by Lucyd Ltd., the inventor of the technology that our products are based upon, which is a portfolio company of Tekcapital Europe Ltd. ("Tekcapital"). Tekcapital is a U.K. based university intellectual property accelerator which builds portfolio companies around new technologies.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | $2.7M | $1.6M | $1.2M | $659.8K | $690.7K | — |
| Cost of revenue | $2.1M | $1.4M | $1.3M | $716.1K | $542.4K | — |
| Gross profit | $567.5K | $215.2K | -$119.3K | -$56.3K | $148.3K | — |
| R&D | $725.4K | $819.4K | $662.2K | $524.7K | $86.3K | — |
| SG&A | $5.2M | $4.5M | $3.9M | $2.8M | $1.4M | — |
| Total operating expenses | $9.1M | $8.1M | $6.7M | $5.5M | $3.4M | — |
| Interest expense | — | — | $3.0K | $105.2K | $39.4K | — |
| Net income | -$7.6M | -$7.8M | -$6.7M | -$5.7M | -$3.2M | — |
| EPS, basic | -1.90 | -5.19 | -10.87 | -0.87 | — | — |
| EPS, diluted | -1.90 | -5.19 | -10.87 | -0.87 | — | — |
| Shares, diluted (wtd. avg.) | 4.0M | 1.5M | 613,000 | 6.5M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $6.5M | $2.6M | $4.3M | $3.6M | $79.7K | $27.0K |
| Receivables | $142.2K | $107.9K | $93.2K | $110.3K | $43.4K | — |
| Inventory | $1.7M | $831.8K | $533.2K | $94.7K | $275.5K | — |
| Total current assets | $9.4M | $9.2M | $5.6M | $4.2M | $644.3K | — |
| Property, plant and equipment | $61.8K | $107.6K | $154.8K | $119.7K | $20.3K | — |
| Other intangibles | $560.0K | $451.3K | $286.4K | $137.6K | $87.3K | — |
| Total assets | $10.1M | $9.8M | $6.2M | $4.7M | $824.3K | — |
| Accounts payable | $985.4K | $692.8K | $582.0K | $275.7K | $167.1K | — |
| Total current liabilities | $1.0M | $737.7K | $624.5K | $600.0K | $616.8K | — |
| Total liabilities | $1.1M | $743.2K | $659.9K | $665.5K | $616.8K | — |
| Retained earnings | -$32.3M | -$24.7M | -$17.0M | -$10.3M | -$4.6M | — |
| Total equity | $9.1M | $9.1M | $5.6M | $4.0M | $207.5K | -$554.8K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$7.3M | -$6.7M | -$5.8M | -$3.2M | -$1.2M | — |
| Depreciation and amortisation | $66.8K | $109.5K | $61.1K | $22.1K | $498 | — |
| Stock-based compensation | $738.2K | $774.8K | $936.8K | $1.5M | $1.3M | — |
| Capital expenditure | $72.5K | $62.2K | $78.5K | $121.6K | $20.8K | — |
| Investing cash flow | $4.5M | -$5.2M | -$198.8K | -$220.0K | -$118.5K | — |
| Financing cash flow | $6.7M | $10.2M | $6.7M | $7.0M | $1.4M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001829126-26-002695.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | — | $690.7K | $659.8K | $1.2M | $1.6M | $2.7M |
| Gross profit | — | $148.3K | -$56.3K | -$119.3K | $215.2K | $567.5K |
| Net income | — | -$3.2M | -$5.7M | -$6.7M | -$7.8M | -$7.6M |
Recent filings and events
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Shareholder vote Item 5.07
- Shareholder vote Item 5.07
- Other event Item 8.01
- Director nominations Dates and mechanics for shareholders proposing directors. Item 5.08
- Material agreement signed Item 1.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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