OLED microdisplay maker eMagin announced reported its financial results for Q2 2020. Revenues reached $7.7 million, an increase of 44% from Q2 2019. Operating loss was $1.3 million (down from $2.8 million in Q2 2019).
eMagin says it continues to see strong demand for its microdisplays in the military market, and also in the medical market. At the end of the quarter eMagin's backlog was $13.3 million of products to be shipped in the next 12 months. Cash and equivalents at the end of the quarter were $11.5 million.
eMagin says it increased its R&D in the quarter, as it focused on the installation and qualification of its redesigned direct-patterning (dPd) tool and its new XLE display technology. The company is also starting to order equipment as its $39.1 million US government grants will support its production.
eMagin also reveals that some aspects of its direct patterning is applicable for OLED displays produced on glass (i.e. not microdisplays) - the idea is that this technology can be applied to increase the fill factor of OLED displays, and so to increase brightness or efficiency. eMagin is looking to license this technology to AMOLED products.
