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.

SolGold plc has delivered its strongest near-surface drilling results to date at the Tandayama América deposit, part of its flagship Cascabel copper-gold project in northern Ecuador.

The standout result came from hole TAD-58, which intersected an impressive 140 meters grading 0.92% copper equivalent from just 8 meters depth. Within this interval, the company hit 106 meters at 1.10% copper equivalent from 22 meters depth.

These exceptional shallow intercepts strengthen SolGold’s strategy to develop a low-cost, open-pit starter operation that could generate early cash flow at Cascabel.

The group has recently pivoted to focus on Ecuador after all Australian licenses were written off and Solgold encountered some of the ‘greatest drill hole intercepts in porphyry copper-gold exploration history’ at Cascabel.

Key Drilling Results

All in all, investors should be highly encouraged by the drill results.

The latest assay results from three drill holes continue to build on the existing resource at Tandayam with Hole TAD-58 in the Pit 2 area delivered the strongest performance, opening considerable potential for further resource definition.

Hole TAD-55, also in Pit 2, intersected 58 meters at 0.29% copper equivalent from 6 meters depth. This mineralisation extends southeast from hole TAD-58, as both holes started from the same collar location.

Meanwhile, hole TAD-56 in Pit 1 returned 280 meters at 0.32% copper equivalent. This hole tested the border of the preliminary Pit 1 design, confirming economically viable grades within the proposed pit boundary.

Strategic Development Plan

The results reinforce SolGold’s staged production strategy at Cascabel. The company plans to integrate the near-surface Tandayama operation with the deeper Alpala underground development.

The company believes this approach could significantly reduce capital expenditure and operating costs while accelerating cash flow generation in the early years of mine life.

“TAD-58 is one of the most robust results we’ve seen from Cascabel to date – with high grades from near surface over substantial widths in a location that aligns with our open-pit to underground strategy. These results continue to show the potential to deliver early, high-margin tonnes from Tandayama-the kind of material that can provide valuable flexibility in the development of Cascabel,” said CEO Dan Vujcic.

“As I’ve noted on previous occasions, SolGold, relative to global peers and precedents, is considerably undervalued; continuing to deliver results like this and increasing market awareness of the quality of our endowment in Northern Ecuador is how we close the value gap. Early results suggest an increase in the size of the resource being open at depth, and the grades exceed what we have internally modelled previously for the deposit. We will continue to update the market as we finalise and potentially expand the current drill program, while continuing to progress early works and preparation at Alpala.”

The FTSE 100 was broadly flat on Thursday with storming global equity markets looking set for a day of reflection as investors balance hopes of interest rate cuts with slowing growth.

London’s leading index was trading lower by 6 points at the time of writing.

Markets are likely to trade headline to headline for the foreseeable future as investors weigh the potential benefits of interest rate cuts in the US and UK against the root cause of any rate cuts, that being spluttering US and UK economies.

Indeed, the UK released GDP figures on Thursday for the second quarter that showed the rate of growth slowing, albeit at a better rate than economists had predicted.

“Investors appear to be reassessing the path of interest rate cuts in the UK, after the economy snapped back to growth,” said Susannah Streeter, head of money and markets, Hargreaves Lansdown.

The steady session for UK stocks followed another robust session in the US overnight, where the S&P 500 closed at another record high.

“Markets also drew impetus from the political front as US Treasury Secretary Scott Bessent made an unusually direct call for a 50 bps rate cut at the next FOMC meeting, an intervention in monetary policy but being normalised somewhat,” said Ahmad Assiri Research Strategist at Pepperstone.

FTSE 100 movers

In the UK, investors were picking through mixed FTSE 100 corporate updates. Aviva and Admirial shares jumped on strong updates, while there was a more cautious reaction to an update from copper miner Antofagasta.

Admiral was the FTSE 100’s top gainer after increasing its dividend following a strong half year period. Admirial shares rose 5% as the group revealed profits soared a bumper 69%.

“In a competitive market, Admiral remains in the fast lane. The strength of its brand allows it to remain disciplined on price while still attracting new business. Admiral’s smart pricing tools have also helped to support underwriting profitability over time,” said AJ Bell investment director Russ Mould.

“The company is being rewarded for treating customers relatively well, at least in relation to its rivals, including during the pandemic. This is driving customer loyalty.”

Investors were also impressed by Aviva’s 30% increase in pretax profit for the first half and shares rose 3%.

Natural resources stocks were the biggest drag on the FTSE 100, with oil and copper notable commodities to drop overnight. BP shares were among the fallers again as hopes around the Ukraine conflict sent oil lower.

Antofagasta was flat despite reporting a 60% increase in EBITDA.

“Chilean copper miner Antofagasta has already enjoyed a strong run for its share price, which explains the relatively muted reaction to today’s solid first-half numbers,” Mould said.

“The company is benefiting not just from a robust pricing environment for copper but also from improved operational performance and increased production.”

MicroSalt is poised for a rally, with shares trading near key support levels following a recent pullback sparked by confusion surrounding announcements regarding related-party payments to their founding company, Tekcapital.

The sell-off appears to be an overreaction to confirmatory announcements that have no bearing on the long-term growth story.

Shares in the low-sodium salt technology company are now down over 30% year-to-date on little more than what appears to be a minor transgression regarding the disclosure of repayments relating to convertible notes that provided MicroSalt with growth capital in the early stage of its growth story.

Looking beyond the recent announcements, MicroSalt is set for a record year of revenues driven by the adoption of its technology by some of the world’s largest snack food companies.

MicroSalt’s investment case is underpinned by a global trend to reduce sodium in food products to help combat cardiovascular diseases exacerbated by the overconsumption of salt.

We do not know the names of the food giants choosing to lower sodium in their foods using MicroSalt due to commercial sensitivities, but we do know they are ramping up their orders.

MicroSalt issued an update earlier this year revealing orders for their bulk product in Q1 totalled 142% of total revenue for 2024.

Orders totalled 98mt in Q1, roughly enough salt to manufacture 280,000,000 packets of ready salted crisps (assuming 0.35g sodium per pack), or 13,000,000 loaves of bread.

These are serious orders from firms that have invested considerable time in testing before deploying MicroSalt in their products at scale – whether these nameless products are crisps, bread, or even breakfast cereals.

Given the sheer size of the orders, MicroSalt had the confidence to issue revenue guidance of at least $2,500,000 for the full year.

This is before accounting for any contribution from a news product designed for French fries, which is due to launch in the second half of the year.

From a technical analysis perspective, MicroSalt has bounced off the 50p level – a region it has previously found support.

NVIDIA has announced new libraries and models designed to accelerate the building and deployment of industrial AI and robotics simulation applications.

NVIDIA has launched new Omniverse software development kits and NuRec libraries that introduce RTX ray-traced 3D Gaussian splatting technology.

This breakthrough rendering technique enables developers to capture, reconstruct and simulate real-world environments in 3D using sensor data.

The technology is already integrated into CARLA simulator used by over 150,000 developers, whilst autonomous vehicle leader Foretellix is incorporating NuRec alongside Sensor RTX and Cosmos Transfer for physically accurate synthetic data generation.

NVIDIA DGX Cloud, now available on Microsoft Azure Marketplace, offers developers a fully managed platform for streaming OpenUSD and RTX-based applications at scale from the cloud, significantly reducing infrastructure management complexity whilst enabling global access to advanced simulation capabilities.

NVIDIA outlined how major industry leaders are rapidly adopting these technologies for real-world physical AI applications.

Amazon Devices & Services is deploying the platform for manufacturing solutions, whilst Boston Dynamics, Figure AI, and Skild AI are leveraging Omniverse libraries and Isaac Sim to accelerate robotics development.

Magna is integrating Cosmos Reason into its autonomous City Delivery platform, and companies like Lightwheel, Moon Surgical, and Uber are utilising the technology for physical AI training and data annotation at scale.

“Computer graphics and AI are converging to fundamentally transform robotics,” said Rev Lebaredian, vice president of Omniverse and simulation technologies at NVIDIA.

“By combining AI reasoning with scalable, physically accurate simulation, we’re enabling developers to build tomorrow’s robots and autonomous vehicles that will transform trillions of dollars in industries.”