Smart eyewear manufacturer delivers 88% quarterly revenue increase driven by new product launches
Innovative Eyewear, the developer of smart eyewear under brands including Lucyd, Reebok, and Eddie Bauer, has announced impressive revenue growth for the second quarter of 2025, despite facing headwinds from increased tariffs.
The company reported net revenue of $579,230 for the quarter ended 30th June 2025, representing a substantial 88% increase compared to the same period in 2024, driven by new product launches and wider adoption of the smart eyewear technology.
Year-to-date revenue reached $1,033,731 for the six months ended 30th June 2025, up 49% from the comparable period last year.
This strong top-line growth was primarily attributed to robust consumer demand for the company’s recent product launches, particularly the Lucyd Armor smart safety glasses and the newly introduced Reebok Powered by Lucyd collection.
Reebok eyewear was added to the Reebok.com website after the period ended.
“I am very pleased by our performance and improved sales for the quarter, as we continue our upward trend of outperforming sales each quarter on a year-over-year basis, which we have done every quarter for the last 24 months,” said Harrison Gross, CEO of Innovative Eyewear Inc.
“We are optimistic about the potential to mitigate the effect of tariffs on our gross margins in the future, as we build a more globally focused business with significant distribution outside of the USA. Our sales growth materially outpaced our increased operating expenses as our marketing efforts continue to yield improved returns.
“Looking ahead to the second half of 2025, we believe we are well positioned to build on our momentum and significantly grow both revenue and market share. I am particularly excited about the potential of our newly launched Reebok® product line, which expanded our portfolio to include smart glasses for active lifestyles, coupled with the continued significant traction of the Lucyd Armor smart safety glasses. Both product lines address vast subsets of the eyewear market which are underserved by smart eyewear providers.”
Despite strong revenue growth, gross profit margins came under pressure, falling to -2% in Q2 2025 from 18% in the prior year quarter, primarily due to significantly higher customs duties and tariffs. However, six-month gross margins improved to 20%, up 11 percentage points year-on-year.
Management is implementing a multi-pronged response to tariff pressures, including logistics network diversification, expanded international sales, selective price increases, and product fulfilment model modifications.
The company ended the quarter with $8,912,645 in combined cash and investments, up from $7,524,171 at year-end 2024, bolstered by warrant exercises during the period.