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Innovative Eyewear Inc. Reports Q1 2025 Unaudited Financial Results
Innovative Eyewear Inc., (NASDAQ: LUCY, LUCYW), the developer of smart eyewear under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands, today announced its Q1 2025 Unaudited financial results.
About this update from Innovative Eyewear, Inc.
[{"type":"text","content":"Revenue and gross margins improvements","length":38,"tagName":"p","attribs":{}},{"type":"text","content":"MIAMI, May 13, 2025 /PRNewswire/ -- Innovative Eyewear Inc., (NASDAQ: LUCY, LUCYW), the developer of smart eyewear under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands, today announced its Q1 2025 Unaudited financial results.","length":237,"tagName":"p"},{"type":"image","alt":"Reebok Powered by Lucyd smart eyewear. Image courtesy of Innovative Eyewear, Inc.","displaySize":"","headline":null,"caption":"Reebok Powered by Lucyd smart eyewear. Image courtesy of Innovative Eyewear, Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":399,"url":"https://media.zenfs.com/en/prnewswire.com/db3651eaf22a840c99d13312828b15c2"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/wjWvpRhXMk_FB1NpuMdN2g--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTcwMztjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/db3651eaf22a840c99d13312828b15c2","width":400,"height":399}},"href":"https://mma.prnewswire.com/media/2686754/Innovative_Eyewear_Inc.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Net revenue for the quarter ended March 31, 2025 was $454,501 an increase of 19% from revenue of $383,471 in the quarter ended March 31, 2024. This increase was primarily attributable to growth in unit sales volume, largely driven by product launches during 2024 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. Also contributing to the growth in revenues were the Company's continued investments in marketing and advertising initiatives, as well as increased public interest and growth in smart glasses and the wearable products category. This growth preceded the launch of Reebok® by Lucyd in April 2025.","length":706,"tagName":"p"},{"type":"text","content":"Gross profit margin for Q1 2025 was 49%, compared with 2% for Q1 2024, driven by lower cost of frames and lower prescription lens fulfilment cost. The decrease in the cost of frames as compared to the prior year quarter was primarily attributable to the combination of realization of greater economies of scale and improvements in product price/mix. The decrease in lens fulfilment costs was attributable to actions taken by management in the prior year to be...