Maxim analyst Brian Kinstlinger noted that Toshiba's (TOSBF) pact with Vuzix (VUZI) for a custom pair of smart glasses based on the recent M300s comes just a year after Toshiba canceled the release of their Wearvue smart glasses and views the deal as validation that Vuzix is a "clear leader" in smart glasses technology. The analyst, who sees the development agreement as a pivotal event for Vuzix, suggests investors buy Vuzix shares ahead of the ramp in revenues he expects in 2017 and reiterates a Buy rating and $11 price target on the stock.

Vuzix CEO Paul Travers said, "Our overall outlook for 2024 remains positive. We have a good book of business with identified opportunities, representing large potential deals and cornerstone customers for our enterprise products. And on the OEM side of our business, we expect to enter into several new projects with new and existing defense and consumer product-focused customers over the course of the year. At the same time, we remain vigilant in our actions to lower our operating costs, extend our operational runway and improve our enterprise product margins. We expect our red-green-blue microLED development progress with Atomistic to accelerate over the coming year with their increased production of test samples and refinements of initial designs. We have started to engage with potential customers and development partners ranging from US and international defense organizations to a number of well-known brands and OEM supply companies. The feedback has been very positive thus far, with nearly all parties intently interested in seeing and potentially supporting Atomistic/Vuzix practical solution for MicroLEDs with high brightness, high efficiency and high contrast that should be clearly scalable and cost effective".