Innovative Eyewear shares soared in the US pre-market after announcing unaudited financial results for the first quarter of 2025, highlighting substantial improvements in gross margin and continued revenue growth.
The company reported net revenue of $454,501 for the quarter ended 31 March 2025, representing a 19% increase from $383,471 in the corresponding period of 2024.
This growth was primarily driven by increased unit sales volume following the launch of Nautica and Eddie Bauer Powered by Lucyd collections and the Lucyd Armor safety smart glasses line during 2024.
Innovative Eyewear shares were 55% higher in the US premarket.
The recently launched Reebok line was released after the period, and investors will look forward to their contribution to sales in the company’s next quarterly update.
Most notably, Innovative Eyewear achieved a remarkable improvement in gross profit margin, which rose to 49% in Q1 2025 compared to just 2% in Q1 2024.
The bumper increase in margins was attributed to lower frame costs through greater economies of scale and improved product price/mix, along with reduced prescription lens fulfilment costs following strategic management actions.
To support the expansion of its Reebok and Lucyd Armor product lines, the company has strengthened its sales team with two new directors who bring substantial experience in optical and hardware sales.
“Our 2025 first quarter revenue reflects our continued investments in product lines, marketing and advertising initiatives, as well as increased public interest and growth in smart glasses,” said Harrison Gross, CEO of Innovative Eyewear Inc.
“We are also happy to see our efforts to improve gross margins bear effect. As we look ahead to the rest of 2025, we believe we are well positioned to build on our momentum and significantly grow total revenues 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 ArmorTM smart safety glasses. Both product lines address vast subsets of the eyewear market which were previously underserved by smart eyewear providers.”