eMagin announces its financial results for Q4 2019, has a new Tier-1 consumer AR customer

OLED microdisplay maker eMagin reported its financial results for Q4 2019. Revenues were $7.3 million (up 35% from Q4 2018), and the net loss was $0.2 million (down from $2.4 million in Q4 2018).

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.

As of the end of 2019 the company reports cash and equivalents of $3.5 million. It expects revenues in Q1 2020 (which is now ending) to be lower than Q1 2019 due to the timing of certain military orders. Total revenues in 2020 are expected to be higher than the revenues in 2019. eMagin also said that it developed a significantly better full color display by improving its OLED stack architecture. The new OLED XLE displays offer a 3X improvement in lifetime and is two-times brighter than the company's current XLS displays. eMagin says it will qualify OLED XLE displays as products by the end of 2020.eMagin says that XLE displays will offer the best brightness, lifetime and efficiency of all white color with filtered OLED microdisplays (its direct emission microdisplays will offer better specifications).

eMagin is still on target to achieve 10,000 nits by Q3 2020 for its direct emission displays, and over 25,000 nits within 3 years - this high level of brightness is being requested within the US military and eMagin is pursuing government funding as part of this effort.

Disclosure: the author of this post holds some shares in eMagin