OLED microdisplay maker eMagin reported its financial results for Q2 2022, with revenues of $7.2 million (up 14% from Q2 2021). The company's net loss was $1.4 million. At the end of the quarter, eMagin had $4.3 million in cash and equivalents. The company's backlog is $14.3 million.
eMagin says that it achieved increased sales of displays in both the defense sector (mainly the ENVG-B program) and also to the veterinary and surgical markets.
In the quarter, eMagin was awarded with a $2.5 million two-year development contract from the US Army, to develop high-performance backplane that will enable increased brightness from the company's dPd display.
eMagin expects to receive a new direct-patterning chamber in September, that will be used to complete its R&D project with a Tier-1 AR/VR customer. The new tool will enable eMagin to fabricate higher brightness prototypes, and will also accelerate its product roadmap. eMagin expects that with a tandem architecture, it has a path towards dPd OLED microdisplays with a brightness of around 20,000 nits.
Disclosure: the author of this post holds shares in eMagin