eMagin corporation - Page 9

eMagin, the OLED microdisplay maker, has entered into an agreement with Craig-Hallum Capital Group that will allow them to raise up to $4.5 million. The proceeds from the sale of shares will be used for "general corporate purposes, including R&D, sales and marketing, and working capital".

eMagin XGA096 OLED-XL

It's been years since eMagin raised new funds as the company has been generating cash for most of the time. The company says they are making good progress on direct-patterned OLEDs and their new microdisplay-based HMD prototype. It's likely that these projects require more cash then the company currently has. As of the end of Q2 2015, eMagin had 5.4 million in cash and equivalents.

eMagin, the OLED microdisplay maker, reported their financial results for Q2 2015 - revenues were $7 million (similar to Q2 2014 and up 17% from Q1 2015). Product revenues totaled $5.4 million and R&D contract revenues were $1.6 million. Operating profit was $0.9 million, while net loss was $0.1 million. eMagin generated $0.4 million in positive cashflow (the company now has $5.4 million in cash or equivalents).

eMagin XGA096 OLED-XL

eMagin says that they are making good progress on direct-patterned OLEDs and is continuing to enhance and demonstrate their new microdisplay-based HMD prototype.

OLED Microdisplay maker eMagin recently announced a new VR head mounted display (HMD) that use the company's latest high resolution (2K by 2K) OLED microdisplays and patented optics. Last week eMagin announced it completed development of the new HMD, and here's how it looks like:

As you can see, this is a much more elegant solution compared to most VR headsets on the market which use cellphone-sized OLED displays. The display can be flipped to an up-position (shown in the image above).

eMagin, the OLED microdisplay maker, reported their financial results for Q1 2015 - the company generated $6 million in revenue (down from $6.3 from last year) and with higher gross margin and lower expenses, they managed to turn a profit of $300K - after seven quarters of operating losses.

eMagin XGA096 OLED-XL

eMagin started to ship their ultra high brightness WUXGA displays, and also started to ship VGA displays globally (these are eMagin's lowest cost displays ever). eMagin also reports advances in direct-patterned OLEDs, and they completed development of its recently announced microdisplay-based HMD and demonstrated it to potential customers.

eMagin reported their financial results for Q4 2014. Revenues were $6.7 million (up 10% from Q4 2013), and operating loss was $1.6 million (down from $3.3 million in Q4 2013). eMagin has $6 million in cash balance, and the company expects revenues in 2015 to be $26-29 million.

An eMagin OLED microdisplay

eMagin reports good progress with their high-brightness direct-emission microdisplays, the HMD product they are developing in-house and the new backplane technology that is expected to cut power consumption by 30%.

eMagin, the OLED microdisplay maker, reported their financial results for Q3 2014. Revenues in Q3 were $5.7 million (down from $6.3 million in Q3 2014), and the net loss was $1 million. The company has about $6 million in cash and equivalents, up from $5.6 million in June 2014. eMagin XGA096 OLED-XL

The lower-than-expected revenues were due to scheduled maintenance on the OLED deposition tools (eMagin did not produce displays for a month during the quarter), the bonding stop-ship event from Q1 which means that eMagin is still not shipping to those two large customers (shipments are expected to resume in 2015).

OLED Microdisplay maker eMagin announced that it is developing a new VR head mounted display (HMD) that use the company's latest high resolution (2K by 2K) OLED microdisplays and patented optics. These two technologies will enable eMagin's HMD to be significantly smaller, lighter and higher in resolution than competing HMDs (such as the Oculus Rift one) that are based on cellphone-sized OLEDs.

eMagin seems to be very excited by the new HMD, which they currently term Immersive HMD, or IHMD (the company will conduct a contest to name the IHMD for the product launch) - saying that their non-traditional approach will achieve a "radically improved and unique form factor".

Earlier this month eMagin announced three new R&D project wins, worth a total of $6.8 million. The company now gave some more details on those projects. The bulk of that money ($6.45 million) will go to several projects that all have an aim to develop and produce ultra-high resolution, high brightness, high contrast, full color OLED microdisplays at a low unit cost.

The projects will be executed over the next 30 months, and upon the completion eMagin will be able to produce full-color high resolution (higher than 1920x1200) OLED microdisplays with a brightness in excess of 10,000 cd/m² and with a contrast of at least 10,000:1. Those displays will be based on new highly improved backplane technology that will be developed as part of the program. The backplane will enable a 30% reduction in power consumption compared to the existing backplane used in eMagin's microdisplays.

In July eMagin announced they expect to receive a number of new R&D contracts, and now the company announced three new R&D project wins, worth a total of $6.8 million.

The first project is a $1.1 million contract over 15 months to further enhance the brightness of eMagin's ultra-high-brightness full-color microdisplay. The second project ($4.9 million, 30 months) and the third ($800,000 over 11 months) involved a new manufacturing technology that eMagin will detail in the near future.

eMagin, the OLED microdisplay maker, reported their financial results for Q2 2014. Revenues were $7 million (the same as in Q2 2013), while net loss was $1 million (the same again as in Q2 2013).

eMagin XGA096 OLED-XL

While the company's financial results are still not very impressive, they do report significant advances in their R&D programs, mainly for ultra high-brightness displays and direct-patterned panels. In the near term, they hope that new R&D projects will help them increase revenues. In the long term, they seem certain that the advantages of direct-emission displays will enable them to achieve design wins in future commercial wearable devices such as HMDs.