eMagin Corporation (EMAN) experienced an increase of 8.07% in premarket. However, the last trading session concluded at $1.61 with a decline of 12.97%.
Third Quarter 2021 Results – What are the latest updates?
EMAN announced third-quarter results on 12th November 2021. Total sales for the third quarter of 2021 were $5.8 million, $7.3 million more than the previous year. Moreover, the product revenue and contract revenue combine to make up total revenue. Product revenues during the third quarter of 2021 were $5.3 million, $1.7 million less than the prior-year period’s $7.0 million. Furthermore, contract sales were $0.5 million, $0.3 million more than the year before.
This was due to an increase in development activity linked with a tier-one consumer EMAN’s contract. Operating costs, including R&D expenses, rose to $3.9 million in the third quarter of 2021. Last but not the least, the operational loss for the third quarter of 2021 was $3.3 million, compared to $1.9 million in the prior-year period, owing mostly to the lower gross profit mentioned above.
Now what?
In the microdisplay sector, EMAN has always set the bar for innovation and performance. And EMAN has hit a number of significant milestones in the third quarter. EMAN has built the manufacturing capability to increase production for the high-brightness XLE displays and debuted prototypes of what is currently the world’s highest, full-color Direct Patterning Display (dPdTM) microdisplays in conjunction with proof-of-concept display work for a tier-one AR/VR customer.
The unique dPd technology is used to create industry-leading brightness and resolution combinations in these prototype microdisplays. EMAN has shown these displays to an audience of renowned OLED industry experts on October 29, exhibiting their vivid, full-color, high-resolution performance with a maximum brightness of over 10,000 cd/m2 and a peak luminance of over 10,000 cd/m2. This was a watershed event for EMAN and the industry, establishing them as a real disruptor in the OLED microdisplay market.
Full-color OLED Microdisplay by EMAN – All about it
On 1st November 2021, EMAN announced that they have successfully created a new design for a widescreen ultra-extended graphics array. This is a watershed moment for eMagin and the industry. And it represents the biggest success in furthering the unique dPd technology to date. By using direct patterning on WUXGA displays, EMAN was able to achieve maximum brightness of over 10,000 cd/m2.
This is a 20-fold improvement over the standard white with color filter XL microdisplays. EMAN thinks that it is the world’s brightest high-resolution, full-color OLED microdisplay. Not only this, but the company is developing this technology with a tier-one consumer firm. Lastly, the clients will be able to overcome poor optics and install new and sophisticated features that were previously impossible to execute due to technological constraints.
