OLED microdisplay maker eMagin reported mixed quarter results for Q2 2021. Production issues and unexpected manufacturing tool downtime reduced revenues, but the company says it increased shipments to military, medical and other customers. Revenues in the quarter were $6.3 million (down from $7.7 million in Q2 2020). Net loss in the quarter was $0.3 million (but this includes a $2.6 million non-cash profit due to change in value of a warrant liability).
eMagin says it continued to make steady progress on the direct-emission microdisplay project, and remains on schedule to produce full-color prototypes this year. eMagin also reports it is ramping up production of its latest XLE technology (which still uses color filters) and has closed a major design win with a military customers for XLE OLED microdisplays.
During the quarter, eMagin took deliver of two new production tools and is continuing to order equipment as part of its government funding awards.