Innovative Eyewear Inc. reported its unaudited financial results for Q1 2025, revealing a 19% increase in net revenue to $0.454 million compared to $0.383 million in the same quarter of 2024. This growth was driven by increased unit sales from product launches in 2024, including the Nautica® and Eddie Bauer® collections powered by Lucyd, as well as the Lucyd Armor safety smart glasses line. The company also noted continued investments in marketing and advertising as contributing factors. Total operating expenses for Q1 2025 rose by 11% to $2.124 million from $2.021 million in Q1 2024. Innovative Eyewear Inc. managed to reduce its net loss to $1.779 million, or $(0.72) per share, from a net loss of $1.971 million, or $(2.59) per share, in Q1 2024. CEO Harrison Gross expressed optimism about the company's position to further grow revenues and market share, highlighting the potential of the newly launched Reebok® product line, which targets active lifestyles, and the ongoing success of the Lucyd Armor smart safety glasses. The company has expanded its sales team to support the launch and expansion of these product lines.
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