Vuzix Corp 2025年度报告

☑ANNUAL REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934For the fiscalyear ended December 31, 2025 TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934 (Registrant’s telephone number including area code) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule405 of the Securities Act. Yes◻No Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or Section15(d)of the Exchange Act. Indicate by check mark whether the registrant: (1)has filed all reports required to be filed by Section13 or 15(d)of the SecuritiesExchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports),and (2)has been subject to such filing requirements for the past 90days. YesNo◻ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuantto Rule405 of RegulationS-T during the preceding 12months (or for such shorter period that the registrant was required to submit suchfiles). YesNo◻ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reportingcompany,” and “emerging growth company in Rule12b-2 of the Exchange Act. Large accelerated filer◻Accelerated filer◻Non-accelerated filerSmaller reporting company☑Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section13(a)of the Exchange Act.◻ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness ofits internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered publicaccounting firm that prepared or issued its audit report. Yes☐No☑ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrantincluded in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).◻ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). Yes☐No☑ The aggregate market value of the voting and non-voting common equity of the registrant held by non-affiliates as of June30, 2025 wasapproximately $189,368,000 (based on the closing price of the common stock of $2.92 per share on that date, as reported on theNASDAQ Capital Market and, for purposes of this computation only, the assumption that all of the registrant’s directors and executiveofficers are affiliates and that beneficial holders of 10% or more of the outstanding common stock are affiliates). As of March 12, 2026, there were 83,158,258 shares of the registrant’s common stock outstanding. DOCUMENTS INCORPORATED BY REFERENCE PartIII of this Form10-K incorporates by reference portions of the registrant’s proxy statement for its 2026 annual meeting ofstockholders. TABLE OF CONTENTS PageItem1Business1Item1A Risk Factors13Item1B Unresolved Staff Comments24Item 1CCybersecurity24Item2Properties25Item3Legal Proceedings26Item4Mine Safety Disclosures26Item5Market for Registrant’s Common Equity, Related Stockholder Matters and IssuerPurchases of Equity Securities26Item6[Reserved]27Item7Management’s Discussion and Analysis of Financial Condition and Results ofOperations27Item7A Quantitative and Qualitative Disclosures about Market Risk42Item8Financial Statements and Supplementary Data43Item9Changes in and Disagreements with Accountants on Accounting and FinancialDisclosure43Item9A Controls and Procedures43Item9B Other Information44Item 9CDisclosure Regarding Foreign Jurisdictions that Prevent Inspections44Item10 Directors, Executive Officers and Corporate Governance44Item11 Executive Compensation44Item12 Security Ownership of Certain Beneficial Owners and Management and RelatedStockholder Matters45Item13 Certain Relationships and Related Transactions, and Director Independence45Item14 Principal Accountant Fees and Services45Item15 Exhibits and Financial Statement Schedules46 FORWARD-LOOKING STATEMENTS This annual report includes forward-looking statements within the meaning of the safe harborprovisions of the Private Securities Litigation Reform Act of 1995. T