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.
The microdisplay market is heating up, in both the established defense, medical and industrial sectors and in the consumer markets (AR and VR) which are only now emerging. To learn more about the OLED microdisplay market (including our views on the disruptive microLED technologies), check out our OLED Microdisplay Market Report.
Disclosure: the author of this post holds some shares in eMagin