Lucyd (LUCY) Q2 2025 earnings summary

Executive summary

• Q2 2025 revenue rose 88% year-over-year to $579,230, driven by strong demand for new product lines, especially Lucyd Armor smart safety glasses and Reebok® Powered by Lucyd sport sunglasses.

• Six-month revenue increased 49% year-over-year to $1,033,731, with Lucyd Armor and Reebok smart eyewear as key contributors.

• Gross profit margin for Q2 2025 was -2%, down from 18% in Q2 2024, mainly due to increased tariffs and import costs.

• Operating expenses increased 6% year-over-year, primarily from higher advertising and selling fees linked to higher sales volumes.

• Net loss for Q2 2025 was $(2,106,094) or $(0.66) per share, 8% higher than Q2 2024, mainly due to higher tariffs.

Financial highlights

• Q2 2025 revenues: $579,230 (+88% YoY); six months ended June 30, 2025: $1,033,731 (+49% YoY).

• Q2 2025 net loss: $(2,106,094) vs. $(1,948,399) in Q2 2024; six months net loss: $(3,884,797) vs. $(3,919,710) prior year.

• Gross profit for six months: $207,868 (20% margin), up from $62,127 (9% margin) YoY.

• Cash and investments at quarter-end totaled $8,912,645, up from $7,524,171 at year-end 2024, due to warrant exercises and equity transactions.

• Working capital at June 30, 2025: $10.7 million.

Outlook and guidance

• Management anticipates further revenue growth in future quarters, supported by new product launches and expanded retail presence.

• Actions taken to mitigate tariff impacts are expected to restore gross margins in subsequent quarters.

• Management expects to mitigate tariff impacts through logistics diversification, ex-US sales expansion, and price adjustments.

• Anticipates continued revenue and market share growth in the second half of 2025, leveraging new product lines.

• The company believes it has sufficient liquidity to fund operations for at least the next 12 months.