eMagin is engaged in the design, development, manufacturing and marketing of OLED microdisplays. eMagin's traditional markets are the defense and industry ones, but the company is also targeting the consumer VR and AR markets with its latest microdisplays. eMagin trades in the AMEX Stock Exchange (Ticker is EMAN).
The latest eMagin news:
OLED microdisplay maker eMagin reported its financial results for Q1 2020. The company's revenues increased 10% from last year to reach $6.7 million, exceeding the company's prior expectations - primarily due to contract R&D from designing a direct patterning display for a Tier-One customer in the consumer space. eMagin also reports a slight increase in military R&D contracts.
eMagin's operating loss in the quarter was $1.3 million. At March 31, 2020, the Company had cash and cash equivalents of $3.1 million.
This is a guest post by Sri Peruvemba, Chair of Marketing, Society for Information Display
How will computing change in the coming years? The better question to ask is what won’t change. Thanks to a new platform, microdisplays and computing in general will transform how we communicate, how we live, even the way we express ourselves to each another. Ultimately, laptops, tablets, phones or smartwatches will go the way of the CRT. As will keyboards and mice. They’ll be replaced by innovative new wearables, inconspicuous devices that will interpret eye-blinks, voice commands, and hand gestures. A miniscule camera will follow your fingertips and body movements, allowing you to transpose images and text with ease, not unlike those depicted in Ready Player One.
The basic technology is here—used by Google, Microsoft, Oculus, MagicLeap, and other pioneers. And so is the demand. Refinements that improve performance and drive down costs are needed. But the world’s biggest players are on board. Form will follow function. Economies of scale will nosedive production costs. Within this realm, three display technologies have moved to the forefront. One appears to be slipstreaming those behind it into the 22nd century—microOLEDs.
The company's booking in Q4 2019 were a record for eMagin, exceeding $15 million. The company received 80 orders and it has started a new consumer-related AR development project for a next-generation display for a Tier-1 customer.
The first order is a follow-on order for $4.3 million in connection with the U.S. Army’s Enhanced Night Vision Goggle – Binocular (ENVG-B) program - which is expected to result in more orders as this is a multi-year program. The second order if from a major defense contractor (eMagin did not detail further) - and worth $5.6 million.
OLED microdisplay maker eMagin reported its financial results for Q3 2019. Revenues were $7.9 million (up from $6.9 million a year ago) and operating loss was $0.4 million (down from $1.3 million in Q3 2018).
eMagin says that these financial results present a significant improvement, with the second highest quarter revenues in the Company's history. The company demonstrated significant improvement in yield and throughput as production volumes increased over 50% from the second quarter.
OLED microdisplay maker eMagin reported its financial results for Q2 2019. Revenues were $5.4 million, down from $7.1 million a year ago and eMagin had an operating loss of $2.9 million (down from $3.6 million in Q2 2018). At the end of the quarter eMagin had $3.7 million in cash and equivalents.
eMagin says that the second quarter of 2019 was a challenging one for the company, as deliveries were impacted by continuing production issues and revenue and profitability fell short of expectations. The company is taking several actions to address the shortfall and are seeing early signs of progress. The company's backlog remains strong, at $11.6 million (an increase of approximately $1 million over the backlog of $10.6 million at December 31, 2018).
OLED microdisplay maker eMagin reported its financial results for Q1 2019. Revenues were $6.1 million (down from $6.1 million in Q1 2018) and net loss was $1.4 million (down from $2.1 million in Q1 2018). At the end of the quarter, eMagin had $3.5 million in cash and equivalents (before its latest financing round).
Regarding its consumer business, eMagin updates that it successfully processed the first 4k x 4k wafers for its Tier-1 consumer electronics partner and has confirmed its ability to develop a large-area silicon OLED microdisplay with no visible non-uniformity. It plans to finalize the first full-color prototypes in Q3 2019.
OLED microdisplay maker eMagin announced that it agreed to sell 4 million shares to an institutional investor at a purchase price per share of $0.50 in a registered direct offering (eMagin stock price was $0.78 before the announcement).
eMagin also issued unregistered warrants to purchase up to 3 million shares of common stock at an exercise price of $0.78 per share to the investor.
eMagin announces its financial results for Q4 2018, delivers OLED microdisplays for F35 helmet flight tests
OLED microdisplay maker eMagin reported its financial results for Q4 2018. While eMagin sees growing demand for its products and an increased backlog ($10.6 million as of the end of 2018), the company experienced a manufacturing equipment related issue in Q4 which resulted in lower yields and loss of production. Revenues were $5.4 million (down from $6.4 million in Q4 2017) and the net loss was $2.5 million.
Looking at the whole year of 2018, revenues were $26.2 million (up 19% from 2017) and net loss was $9.6 million. As of December 31, 2018, the Company had approximately $3.4 million of cash, cash equivalents.
OLED microdisplay maker eMagin reported its financial results for Q3 2018. eMagin said it had another strong quarter supported by growth in its military with several new program wins and in its commercial business. Total revenues were $6.9 million (a 60% increase from Q3 2017), and operating loss was $1.3 million (down from $3 million in Q3 2018). Including a non-cash change in value of warrants, the company had a small net profit in the quarter.
Regarding its consumer business, eMagin updates that it has achieved design approval from one of its Tier-1 consumer electronics partners. eMagin's foundry partner will produce wafer for display prototypes for this customer. eMagin says that its direct-emission OLED microdisplays meets the wide field of view, no screen door effect and high brightness that the partner requires.