Q119 -- eMagin Y/Y Revenue Down Again, Net Losses Continue
May 27, 2019
eMagin had another boring quarter in Q119, with revenues of $6.1m down 11.6% Y/Y and an operating loss of $2.2m compared to a loss of 2.6m in Q118. The net loss was $1.4m vs. last year’s loss of $2.1m. The only good news was that eMagin’s direct patterning project, which has $4m of customer funding, is progressing and the company has a 4000x4000 pixel micro display, using white OLEDs to test the backplane. The next step, which should complete in Q319, is building several prototypes with the tested backplane and the direct patterning of R,G,B. The high performance OLED micro display is being positioned as a solution to the nascent AR market, which demands a high resolution, high brightness, and wide FOV. At DisplayWeek, eMagin booth staff said they already had commercial products that used direct patterning and that the 4K x 4K would have an initial luminance of 5,000 nits growing to 10,000 nits or more. They indicated that they had demonstrated the product to potential AR customers, but none were ready to commit to engineering costs or volume. But they loved the micro display’s performance.