{"id":995547,"date":"2026-08-14T11:48:15","date_gmt":"2026-08-14T15:48:15","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/innovative-eyewear-inc-reports-record-second-quarter-2026-results\/"},"modified":"2026-08-14T11:48:15","modified_gmt":"2026-08-14T15:48:15","slug":"innovative-eyewear-inc-reports-record-second-quarter-2026-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/innovative-eyewear-inc-reports-record-second-quarter-2026-results\/","title":{"rendered":"Innovative Eyewear Inc. Reports Record Second Quarter 2026 Results"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n
\n Y-O-Y Second Quarter Revenue Increased 74% & Gross Margin Improved to 24%<\/i>
\n <\/b>\u00a0<\/p>\n

\n MIAMI<\/span>, Aug. 14, 2026<\/span> \/PRNewswire\/ — Innovative Eyewear Inc., (NASDAQ: LUCY, LUCYW), (“Innovative Eyewear” or the “Company”) the developer of smart eyewear under the Lucyd\u00ae, Lucyd Armor\u00ae, Reebok\u00ae, Nautica\u00ae, and Eddie Bauer\u00ae brands, today announced its unaudited financial results for the three and six months ended June 30, 2026.<\/p>\n

\n

\n \"Innovative\n <\/p>\n<\/p><\/div>\n

Harrison Gross, CEO of Innovative Eyewear Inc., commented, “We didn’t just carry our first-quarter momentum into the second quarter \u2014 we accelerated it, surpassing $1 million in quarterly revenue for the first time in our history while returning gross margin to positive territory. We intend to build on this momentum in the second half, and we remain very optimistic about our outlook for 2026 and beyond.”<\/p>\n

Net revenue for the three months ended June 30, 2026 (the “current quarter”) was $1,010,519, an increase of $431,289 or 74% from the prior year quarter \u2014 the twelfth consecutive quarter of year-over-year revenue growth, the first quarter in the Company’s history with net revenue above $1 million, and an acceleration from approximately 63% growth for full-year 2025 and 70% in the first quarter of 2026. Growth was predominantly attributable to volume, driven by Lucyd Armor\u00ae smart safety glasses, of which approximately 4,700 units were sold, a nearly 100% increase year-over-year, and by cobranded Reebok\u00ae sport and optical smartglasses, of which over 1,600 units were sold compared with approximately 400, partially offset by declines in certain other product lines.<\/p>\n

Gross profit was $242,515, or 24% of net revenue, compared with a gross loss of $12,665, or (2)%, in the prior year quarter \u2014 an improvement of approximately 26 percentage points, reflecting a rebound from tariffs imposed on U.S. imports beginning in April 2025 and management’s actions to mitigate them, which have largely restored margins to levels consistent with the Company’s pre-tariff business plan.<\/p>\n

Total operating expenses were $1,947,474, a decrease of $210,933 or 10%, on a $126,131 decrease in research and development costs and a $92,296 decrease in general and administrative expenses, the latter primarily on lower legal and outside consultant expenses, partially offset by higher public relations and branding spending and higher license royalties. Other non-operating income was approximately $34,141, compared with $64,978. Net loss was $1,670,818 or $(0.26) per share, basic and diluted, compared with $2,106,094 or $(0.66) per share \u2014 a 21% reduction. Weighted average shares outstanding for the three months ended June 30, 2026 and 2025 were approximately 6.41 million and 3.21 million, respectively.<\/p>\n

Net revenue for the six months ended June 30, 2026 was $1,784,080, an increase of $750,349 or 73%, driven primarily by volume \u2014 approximately 8,800 Lucyd Armor\u00ae units, a 91% increase, and nearly 2,000 Reebok\u00ae units \u2014 with the remainder largely driven by favorable price\/mix from 2026 Lucyd Armor\u00ae price increases and the April 2026 Reebok\u00ae optical launch at premium price points, partially offset by a higher proportion of wholesale sales at wholesale pricing. Gross profit margin was 23%, compared with 20% in the prior year period, which, as previously disclosed, included approximately $132,000 of one-off credits and inventory adjustments not representative of run-rate margin. The improvement primarily reflects better sourcing costs for frames and prescription lenses as order volumes have grown, together with tariff mitigation.<\/p>\n

Total operating expenses for the six months were $4,494,684, an increase of $211,953 or 5%, driven by a $406,407 increase in general and administrative expenses \u2014 compensation and benefits, public relations and branding, and license royalties \u2014 partially offset by significant decreases in research and development costs. Other non-operating income was approximately $96,538, compared with $190,066. Net loss was $3,980,186 or $(0.63) per share, basic and diluted, compared with $3,884,797 or $(1.37) per share. Weighted average shares outstanding for the six months ended June 30, 2026 and 2025 were approximately 6.33 million and 2.84 million, respectively.<\/p>\n

At June 30, 2026 the Company held approximately $3.74 million of combined cash and cash equivalents and investments, compared with $6.51 million at December 31, 2025. Net working capital was $6.22 million, compared with $8.39 million, with no outstanding debt and long-term liabilities of only approximately $0.01 million. During the six months the Company received approximately $1.46 million of gross proceeds, or $1.41 million net, from at-the-market sales of common stock. Subsequent to quarter end, on July 9, 2026, the Company closed a warrant inducement transaction generating approximately $3.0 million of gross proceeds, or $2.6 million net, intended for working capital and general corporate purposes.[1]<\/sup>\u00a0<\/p>\n

As of August 11, 2026, the Company had approximately $5.2 million of combined cash and cash equivalents and investments, and 8,609,196 shares of common stock issued and outstanding.<\/p>\n

The Company expects to sustain this revenue growth momentum, supported by several commercial initiatives now underway:<\/p>\n