OLED microdisplay maker eMagin posted its financial results for Q4 2020. Revenues for the quarter were $7.7 million (up from $7.3 million in Q3 2019) with contract revenue of $1.5 million reflecting continued work for a Tier-1 consumer company.
Net loss for Q4 2020 was $3.7 million. For the full year 2020, eMagin reports revenues of $29.4 million, up from $26.7 million in 2019. The net loss in 2020 was $11.5 million.
As of the end of 2020, the company's backlog of open orders was $12.2 million - in Q4 eMagin reports strong bookings of $8.3 million. eMagin had $8.3 million in cash and equivalent in December 2020.
eMagin says it is making steady progress with its direct-emission (dPd) technology, and it is on track to produce 10,000 nits prototypes by Q3 2021 and 28,000 nits displays by mid-2023.
eMagin expanded its manufacturing space and has started to install the equipment that it ordered as part of the $39 million in government funding it announced last year.
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