eMagin - Page 4

Last month OLED microdisplay maker eMagin announced that the company received a $5.5 million award from the US Department of Defense to improve eMagin’s OLED microdisplay manufacturing capabilities - which was a first phase in a three phase program.

The DoD yesterday published the full project, a Defense Production Act Title III agreement with eMagin that has a total funding of $33.6 million (this excludes the $5.5 million announced before). The DoD wants eMagin to sustain and expand its critical industrial base production of OLED microdisplays. This project is part of the US national response to COVID-19.

OLED microdisplay maker eMagin posted its preliminary revenues for the second quarter of 2020 and backlog at June 30, 2020. eMagin estimates that revenues in Q2 2020 will be between $7.4 million to $7.7 million, a 38-44% increase from Q2 2019 and 10-15% increase from Q1 2020.

eMagin says that it has seen improvement in demand from both its military business and its consumer or commercial programs. The company's backlog as of June 30 was $14.8 million.

OLED microdisplay maker eMagin announced that the company received a $5.5 million award from the US Department of Defense to improve eMagin’s OLED microdisplay manufacturing capabilities.

The award was granted under the Industrial Base Analysis and Sustainment (IBAS) Program for OLED Supply Chain Assurance. These funds will be used for procurement and installation of capital equipment in eMagin’s NY-based manufacturing facility.

OLED microdisplay maker eMagin reported its financial results for Q1 2020. The company's revenues increased 10% from last year to reach $6.7 million, exceeding the company's prior expectations - primarily due to contract R&D from designing a direct patterning display for a Tier-One customer in the consumer space. eMagin also reports a slight increase in military R&D contracts.

eMagin's operating loss in the quarter was $1.3 million. At March 31, 2020, the Company had cash and cash equivalents of $3.1 million.

This is a guest post by Sri Peruvemba, Chair of Marketing, Society for Information Display

How will computing change in the coming years? The better question to ask is what won’t change. Thanks to a new platform, microdisplays and computing in general will transform how we communicate, how we live, even the way we express ourselves to each another. Ultimately, laptops, tablets, phones or smartwatches will go the way of the CRT. As will keyboards and mice. They’ll be replaced by innovative new wearables, inconspicuous devices that will interpret eye-blinks, voice commands, and hand gestures. A miniscule camera will follow your fingertips and body movements, allowing you to transpose images and text with ease, not unlike those depicted in Ready Player One.

The basic technology is here—used by Google, Microsoft, Oculus, MagicLeap, and other pioneers. And so is the demand. Refinements that improve performance and drive down costs are needed. But the world’s biggest players are on board. Form will follow function. Economies of scale will nosedive production costs. Within this realm, three display technologies have moved to the forefront. One appears to be slipstreaming those behind it into the 22nd century—microOLEDs.

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.

OLED microdisplay maker eMagin reported two significant orders for its OLED microdisplays - both from the defense sector.

The first order is a follow-on order for $4.3 million in connection with the U.S. Army’s Enhanced Night Vision Goggle Binocular (ENVG-B) program - which is expected to result in more orders as this is a multi-year program. The second order if from a major defense contractor (eMagin did not detail further) - and worth $5.6 million.

OLED microdisplay maker eMagin reported its financial results for Q3 2019. Revenues were $7.9 million (up from $6.9 million a year ago) and operating loss was $0.4 million (down from $1.3 million in Q3 2018).

eMagin says that these financial results present a significant improvement, with the second highest quarter revenues in the Company's history. The company demonstrated significant improvement in yield and throughput as production volumes increased over 50% from the second quarter.

OLED microdisplay maker eMagin reported its financial results for Q2 2019. Revenues were $5.4 million, down from $7.1 million a year ago and eMagin had an operating loss of $2.9 million (down from $3.6 million in Q2 2018). At the end of the quarter eMagin had $3.7 million in cash and equivalents.

eMagin says that the second quarter of 2019 was a challenging one for the company, as deliveries were impacted by continuing production issues and revenue and profitability fell short of expectations. The company is taking several actions to address the shortfall and are seeing early signs of progress. The company's backlog remains strong, at $11.6 million (an increase of approximately $1 million over the backlog of $10.6 million at December 31, 2018).

OLED microdisplay maker eMagin reported its financial results for Q1 2019. Revenues were $6.1 million (down from $6.1 million in Q1 2018) and net loss was $1.4 million (down from $2.1 million in Q1 2018). At the end of the quarter, eMagin had $3.5 million in cash and equivalents (before its latest financing round).

Regarding its consumer business, eMagin updates that it successfully processed the first 4k x 4k wafers for its Tier-1 consumer electronics partner and has confirmed its ability to develop a large-area silicon OLED microdisplay with no visible non-uniformity. It plans to finalize the first full-color prototypes in Q3 2019.