LUCY

Y-O-Y Second Quarter Revenue Increased 74% & Gross Margin Improved to 24% MIAMI, Aug. 14, 2026 /PRNewswire/ -- Innovative Eyewear Inc., (NASDAQ: LUCY, LUCYW), ("Innovative Eyewear" or the "Company") the developer of smart eyewear under the Lucyd®, Lucyd Armor®, Reebok®, Nautica®, and Eddie Bauer® brands, today announced its unaudited financial results for the three and six months ended June 30, 2026. Harrison Gross, CEO of Innovative Eyewear Inc., commented, "We didn't just carry our first-quarter momentum into the second quarter — we accelerated it, surpassing $1 million in quarterly revenue for the first time in our history while returning gross margin to positive territory. We intend to build on this momentum in the second half, and we remain very optimistic about our outlook for 2026 and beyond." Net revenue for the three months ended June 30, 2026 (the "current quarter") was $1,010,519, an increase of $431,289 or 74% from the prior year quarter — the twelfth consecutive quarter of year-over-year revenue growth, the first quarter in the Company's history with net revenue above $1 million, and an acceleration from approximately 63% growth for full-year 2025 and 70% in the first quarter of 2026. Growth was predominantly attributable to volume, driven by Lucyd Armor® smart safety glasses, of which approximately 4,700 units were sold, a nearly 100% increase year-over-year, and by cobranded Reebok® sport and optical smartglasses, of which over 1,600 units were sold compared with approximately 400, partially offset by declines in certain other product lines. Gross profit was $242,515, or 24% of net revenue, compared with a gross loss of $12,665, or (2)%, in the prior year quarter — an improvement of approximately 26 percentage points, reflecting a rebound from tariffs imposed on U.S. imports beginning in April 2025 and management's actions to mitigate them, which have largely restored margins to levels consistent with the Company's pre-tariff business plan. Total operating expenses were $1,947,474, a decrease of $210,933 or 10%, on a $126,131 decrease in research and development costs and a $92,296 decrease in general and administrative expenses, the latter primarily on lower legal and outside consultant expenses, partially offset by higher public relations and branding spending and higher license royalties. Other non-operating income was approximately $34,141, compared with $64,978. Net loss was $1,670,818 or $(0.26) per share, basic and diluted, compared with $2,106,094 or $(0.66) per share — a 21% reduction. Weighted average shares outstanding for the three months ended June 30, 2026 and 2025 were approximately 6.41 million and 3.21 million, respectively. Net revenue for the six months ended June 30, 2026 was $1,784,080, an increase of $750,349 or 73%, driven primarily by volume — approximately 8,800 Lucyd Armor® units, a 91% increase, and nearly 2,000 Reebok® units — with the remainder largely driven by favorable price/mix from 2026 Lucyd Armor® price increases and the April 2026 Reebok® optical launch at premium price points, partially offset by a higher proportion of wholesale sales at wholesale pricing. Gross profit margin was 23%, compared with 20% in the prior year period, which, as previously disclosed, included approximately $132,000 of one-off credits and inventory adjustments not representative of run-rate margin. The improvement primarily reflects better sourcing costs for frames and prescription lenses as order volumes have grown, together with tariff mitigation. Total operating expenses for the six months were $4,494,684, an increase of $211,953 or 5%, driven by a $406,407 increase in general and administrative expenses — compensation and benefits, public relations and branding, and license royalties — partially offset by significant decreases in research and development costs. Other non-operating income was approximately $96,538, compared with $190,066. Net loss was $3,980,186 or $(0.63) per share, basic and diluted, compared with $3,884,797 or $(1.37) per share. Weighted average shares outstanding for the six months ended June 30, 2026 and 2025 were approximately 6.33 million and 2.84 million, respectively. At June 30, 2026 the Company held approximately $3.74 million of combined cash and cash equivalents and investments, compared with $6.51 million at December 31, 2025. Net working capital was $6.22 million, compared with $8.39 million, with no outstanding debt and long-term liabilities of only approximately $0.01 million. During the six months the Company received approximately $1.46 million of gross proceeds, or $1.41 million net, from at-the-market sales of common stock. Subsequent to quarter end, on July 9, 2026, the Company closed a warrant inducement transaction generating approximately $3.0 million of gross proceeds, or $2.6 million net, intended for working capital and general corporate purposes.[1] As of August 11, 2026, the Company had approximately $5.2 million of combined cash and cash equivalents and investments, and 8,609,196 shares of common stock issued and outstanding. The Company expects to sustain this revenue growth momentum, supported by several commercial initiatives now underway: Premium product momentum. In April 2026 the Company launched the new Reebok® Powered by Lucyd optical collection, its highest average selling price frame collection to date. Canadian retail rollout underway. As previously announced in July 2026, the Company entered into a retail launch with FYihealth group, operators of the FYidoctors optical chain in Canada, centered on the 2026 rollout of Lucyd Armor® in approximately 345 FYidoctors and Visique clinics. Initial shipments commenced in July 2026. Expanding U.S. retail footprint. The Company has been selected for a wearables brand test with a major U.S. and global retailer covering 183 stores, with the in-store set scheduled to begin in October 2026. Together with these partnerships, the Company expects the number of retail locations offering its products to increase materially during 2026 from over 400 at the end of 2025. Enterprise demand and a new white-label channel. Several leading industrial and logistics companies are testing Lucyd Armor® for workforce use. The Company has also launched a white-label offering for retailers and legacy eyewear brands, and is in advanced discussions with a prospective customer for a white-label line of smart safety glasses. About Innovative Eyewear, Inc. Innovative Eyewear is a developer of cutting-edge ChatGPT- and Claude-enabled smart eyewear, under the Lucyd®, Lucyd Armor®, Reebok®, Nautica®, and Eddie Bauer® brands. True to our mission to Upgrade Your Eyewear®, our Bluetooth smart glasses allow users to stay safely and ergonomically connected to their digital lives and are offered in hundreds of frame and lens combinations to meet the needs of the optical market. To learn more and explore our continuously evolving collection of smart eyewear, please visit www.lucyd.co. Forward-Looking Statements This press release contains certain forward-looking statements, including those relating to the Company's business operations, projections, market position, revenue growth, liquidity, commercial discussions, pipeline opportunities, prospective customers and channel partners, anticipated product launches and retail listings, and future product lines and developments. Forward-looking statements are based on the Company's current expectations and assumptions. The Private Securities Litigation Reform Act of 1995 provides a safe-harbor for forward-looking statements. These statements may be identified by the use of forward-looking expressions, including, but not limited to, "anticipate," "believe," "continue," "estimate," "expect," "future," "intend," "may," "outlook," "plan," "potential," "predict," "project," "should," "will," "would" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. The retail test, partnerships and commercial discussions described in this release have not resulted in definitive agreements except as expressly stated, and there can be no assurance that any such discussions will result in executed agreements or generate revenue on the timing or in the volumes described, or at all. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 10-K under the caption "Risk Factors" and its quarterly report on Form 10-Q for the quarterly period ended June 30, 2026. Investor Relations Contact: Scott PowellSkyline Corporate Communications Group, LLCTelephone: +1 (646) 893-5835Email: [email protected] View original content to download multimedia:https://www.prnewswire.com/news-releases/innovative-eyewear-inc-reports-record-second-quarter-2026-results-302851966.html

Expands Retail Footprint MIAMI, July 6, 2026 /PRNewswire/ -- Innovative Eyewear, Inc. ("Innovative Eyewear" or the "Company") (NASDAQ: LUCY; LUCYW), the developer & manufacturer of smart eyewear under the Lucyd®, Lucyd Armor®, Reebok®, Nautica®, and Eddie Bauer® brands, today reported preliminary, unaudited net sales for the second quarter ended June 30, 2026, up approximately 71% year-over-year, alongside significant new retail partnerships in Canada and the United States. First-half 2026 net sales jumped approximately 71% year-over-year to $1.77 million, the Company's twelfth consecutive quarter of year-over-year revenue growth, with Q2 sales increasing 71% year over year to $0.99 million. During the quarter, Innovative Eyewear secured an initial purchase order from a leading Canadian optical retail group operating 345 locations, and was awarded a 50-store test with one of the world's largest retailers. Preliminary Second Quarter 2026 Results Preliminary Q2 2026 net sales of approximately $0.99 million, an increase of approximately 71% over Q2 2025. Preliminary first-half 2026 net sales of approximately $1.77 million, an increase of approximately 71% over the first half of 2025. Twelfth consecutive quarter of year-over-year revenue growth. Growth continues to be led by the Lucyd Armor® smart safety eyewear line, with sustained demand across the Company's direct-to-consumer, online marketplace, and wholesale channels. Expanding Retail Footprint The Company is accelerating its wholesale and brick-and-mortar retail strategy, which it expects to be a meaningful driver of revenue in the second half of 2026 and beyond: Canada: Innovative Eyewear has received an initial purchase order from a leading Canadian optical retail group that operates 345 locations, which the Company expects will help establish its smart eyewear, led by Lucyd Armor®, as a featured offering across the group's stores. Product deployment is expected to begin in the third quarter of 2026. United States: The Company has been awarded a 50-store test with a major U.S. retailer, which is expected to commence in September 2026. The Company intends to share additional details regarding these relationships as they progress. Update Webinar The Company is conducting a webinar on corporate progress this week, to be held virtually on Wednesday, July 8th at 12:00pm ET. To register to attend the webinar, which will be held over Zoom, please sign up here. Management Commentary "Our preliminary second-quarter results reflect broad-based momentum across our smart eyewear portfolio," said Harrison Gross, CEO of Innovative Eyewear. "What excites me most is how quickly our team is opening the wholesale channel. With an initial order in hand from a leading Canadian optical retailer operating 345 locations, and a 50-store test secured with a major U.S. big-box retailer, we believe we are building the foundation for a transformative expansion of our retail presence and our revenue in future periods. Lucyd products bring a clear competitive edge over other smart eyewear, thanks to our breadth of styles, ANSI certification, premium build quality and affordable price points. Retailers are recognizing the value in our portfolio, and these two new wholesale partners are just the beginning. I expect Lucyd products to be on many new store shelves in the next year." The Company's preliminary second quarter 2026 results are unaudited and remain subject to completion of the Company's quarter-end close and review by its auditors. Actual results may differ. The Company plans to release its full financial results for the second quarter in mid-August 2026. Unveiling the upcoming Lucyd Aero™ smart eyewear collection, anticipated to launch in October 2026. Lucyd Aero will be the Company's lightest smart eyewear to-date, weighing less than 1oz, and offering the natural look and feel of traditional eyewear. Image courtesy Innovative Eyewear, Inc. About Innovative Eyewear, Inc. Innovative Eyewear is a developer & manufacturer of cutting-edge ChatGPT enabled smart eyewear, under the Lucyd®, Lucyd Armor®, Reebok®, Nautica® and Eddie Bauer® brands. True to our mission to Upgrade Your Eyewear®, our Bluetooth audio glasses allow users to stay safely and ergonomically connected to their digital lives and are offered in hundreds of frame and lens combinations to meet the needs of the optical, sunglass, sporting goods and safety eyewear markets. To learn more and explore our continuously evolving collection of smart eyewear, please visit www.lucyd.co. Forward-Looking Statements This press release contains certain forward-looking statements, including those relating to preliminary Q2 2026 and first-half 2026 sales results, anticipated retail partnerships and purchase orders, expected product deployments and store tests, and future growth prospects. Forward-looking statements are based on the Company's current expectations and assumptions. The Private Securities Litigation Reform Act of 1995 provides a safe-harbor for forward-looking statements. These statements may be identified by the use of forward-looking expressions, including, but not limited to, "anticipate," "believe," "continue," "estimate," "expect," "future," "intend," "may," "outlook," "plan," "potential," "predict," "project," "should," "will," "would" and similar expressions. Preliminary results are unaudited and subject to change upon completion of the Company's quarter-end close and audit review. There can be no assurance that any purchase order, partnership, or retail test described herein will result in a definitive agreement, will be completed on the terms or timeline described, or will generate recurring or material revenue. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 10-K under the caption "Risk Factors." Investor Relations Contact:Skyline Corporate Communications Group, LLC Scott Powell, President1177 Avenue of the Americas, 5th FloorNew York, NY 10036Office: +1 (646) 893-5835Email: [email protected] View original content to download multimedia:https://www.prnewswire.com/news-releases/innovative-eyewear-q2-2026-net-sales-up-71-year-over-year-in-twelfth-consecutive-quarter-of-growth-302817373.html

First Quarter Revenue Increased 70% Year Over Year MIAMI, May 14, 2026 /PRNewswire/ -- Innovative Eyewear Inc., (NASDAQ: LUCY, LUCYW), ("Innovative Eyewear" or the "Company") the developer of smart eyewear under the Lucydﾮ, Lucyd Armorﾮ, Reebokﾮ, Nauticaﾮ, and Eddie Bauerﾮ brands, today announced its unaudited financial results for the quarter ended March 31, 2026. Net revenue for the three months ended March 31, 2026 (the "current quarter") was $773,561, an increase of $319,060 or 70% from the three months ended March 31, 2025. The first quarter of 2026 marks the 11th consecutive quarter of year-over-year revenue growth. This top-line revenue growth was primarily driven by volume increases from sales of the Company's highly successful Lucyd Armorﾮ smart safety glasses, which represented approximately two-thirds of the Company's total smartglass units sold in the current quarter. The volume increases from Lucyd Armorﾮ were partially offset by lower volumes in certain of the Company's other smartglass product lines, reflecting a strategic realignment of the Company's product mix. Specifically, the Company is intentionally shifting sales volume toward the higher-ROI Lucyd Armorﾮ safety category; sunsetting certain prior-generation collections to make room for the recently launched Reebokﾮ Powered by Lucyd optical collection for the wholesale channel; and the typical seasonal softness in the sports category during the winter months. In total, however, the year-over-year growth in revenue of 70% represents an acceleration from the full-year 2025 growth rate of approximately 63% and reflects continued positive momentum across the Company's smart eyewear portfolio. The Company also recognized $62,397 of other non-operating income during the current quarter, compared to $125,088 in the prior year quarter. These amounts were primarily comprised of dividends from investments in money market funds and interest income from investments in U.S. Treasury bills. The year-over-year decrease in such amounts was primarily due to lower dividend yields and interest rates in the current market and macroeconomic environment. The Company aims to continue its revenue growth momentum supported by the following commercial initiatives currently in progress: The Company is in the process of listing Lucyd Armorﾮ for sale online with a major national retailer. The Company is beginning a pilot product launch with a top 5 national optical retailer. The Company is in negotiations with a major Canadian optical chain for a rollout of Lucyd Armorﾮ in approximately 300 stores. The Company is in discussions with a major auto parts chain for a white-labeled Lucyd Armor product with the chain's branding. A major energy sector company is conducting a pilot of Lucyd Armorﾮ for workforce communication applications. The Company is in commercial discussions with a top 3 hardware retail chain regarding a potential online product listing. The Company recently completed onboarding with Newegg.com, a leading online retailer focused on consumer technology and electronics, with reported annual revenue of approximately $1.3 billion. The Company expects its products to go live on the Newegg platform later this month, expanding its online distribution reach and access to technology-focused consumers. Also, during the first quarter of 2026, the Company received the prestigious Red Dot Award for Lucyd Armorﾮ. The Red Dot Award recognizes the world's leading products that demonstrate functional and aesthetic design excellence, and notable recipients of the award have included some of the world's leading tech and consumer goods companies. Gross profit margin for the first quarter of 2026 was 23%. This was slightly ahead of the Company's gross profit margin for full fiscal year 2025 (21%) and the second half of fiscal year 2025 (22%). The prior-year comparison reflects an unusually elevated Q1 2025 gross profit margin of 49%, which was primarily attributable to the positive impact of one-off credits and inventory adjustments totaling approximately $132,000 and is not representative of the underlying run-rate gross margin for the business. The Company does not currently anticipate material changes in gross profit margins from current levels. Total operating expenses in the first quarter of 2026 were $2,547,210, an increase of $422,886 or 20% from the prior year quarter. This increase was primarily driven by higher general and administrative expenses, which increased by $498,703 year-over-year primarily due to the combination of higher amounts paid to outside service providers for various corporate and compliance functions, and higher payments due under multi-year license agreements. Sales and marketing costs were essentially flat year-over-year, while research and development costs decreased by $72,467 from the first quarter of 2025, primarily driven by the timing of product development cycles. The Company's net loss for the first quarter of 2026 was $2,309,368 or $(0.37) per share, basic and diluted, compared with $1,778,703 or $(0.72) per share, basic and diluted, in the prior year's quarter. Weighted average shares outstanding for the three months ended March 31, 2026 and 2025 were approximately 6.25 million and 2.45 million, respectively. The Company ended the quarter with approximately $5.68 million of combined cash and cash equivalents and investments, compared with $6.51 million of combined cash and cash equivalents and investments as of December 31, 2025. Net working capital (current assets less current liabilities) was $7.66 million at March 31, 2026, and $8.39 million at December 31, 2025. The Company had no outstanding debt as of March 31, 2026, and long-term liabilities of only $0.02 million. During the first quarter of 2026, the Company raised $1.41 million of net cash proceeds from equity offerings. Harrison Gross, CEO of Innovative Eyewear Inc., commented, "I am very pleased by our strong start to the year, as exhibited by our ongoing and accelerating revenue growth. We intend to build on this momentum as we seek to drive further growth this year through ongoing discussions with prospective partners across the big box retail, traditional optical, hardware, automotive, industrial MRO distribution, and construction and logistics channels. We are receiving constructive feedback from key retail and optical accounts on our near-term product roadmap, and we are working to convert that engagement into incremental revenue. We are very optimistic about the growth of the smart eyewear category, the future of our Company and our outlook for 2026 and beyond." About Innovative Eyewear, Inc. Innovative Eyewear is a developer of cutting-edge ChatGPT enabled smart eyewear, under the Lucydﾮ, Lucyd Armorﾮ, Reebokﾮ, Nauticaﾮ, and Eddie Bauerﾮ brands. True to our mission to Upgrade Your Eyewearﾮ, our Bluetooth smart glasses allow users to stay safely and ergonomically connected to their digital lives and are offered in hundreds of frame and lens combinations to meet the needs of the optical market. To learn more and explore our continuously evolving collection of smart eyewear, please visit www.lucyd.co. Forward-Looking Statements This press release contains certain forward-looking statements, including those relating to the Company's business operations, projections, market position, revenue growth, commercial discussions, pipeline opportunities, prospective customers and channel partners, anticipated product launches and retail listings, future product lines and developments. Forward-looking statements are based on the Company's current expectations and assumptions. The Private Securities Litigation Reform Act of 1995 provides a safe-harbor for forward-looking statements. These statements may be identified by the use of forward-looking expressions, including, but not limited to, "anticipate," "believe," "continue," "estimate," "expect," "future," "intend," "may," "outlook," "plan," "potential," "predict," "project," "should," "will," "would" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. Commercial discussions described in this release have not resulted in definitive agreements and there can be no assurance that any such discussions will result in executed agreements or generate revenue on the timing or in the volumes described, or at all. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 10-K under the caption "Risk Factors." Investor Relations Contact: Scott Powell Skyline Corporate Communications Group, LLC Telephone: +1 (646) 893-5835 Email: [email protected] View original content to download multimedia:https://www.prnewswire.com/news-releases/innovative-eyewear-inc-reports-q1-2026-unaudited-financial-results-302772907.html

Revenue Increases Approximately 78% Year-Over-Year MIAMI, April 22, 2026 /PRNewswire/ -- Innovative Eyewear, Inc. ("Innovative Eyewear" or the "Company") (NASDAQ: LUCY; LUCYW), the developer & manufacturer of smart eyewear under the Lucydﾮ, Lucyd Armorﾮ, Reebokﾮ, Nauticaﾮ, and Eddie Bauerﾮ brands, is pleased to announce its preliminary unaudited sales results for the first quarter ended March 31, 2026. The Company achieved preliminary Q1 2026 sales of approximately $0.81 million, an increase of approximately 78% over Q1 2025. This marks the highest first-quarter revenue in the Company's history and extends its progress of year-over-year quarterly revenue growth to eleven consecutive quarters. The Q1 2026 growth rate represents an acceleration from the full-year 2025 growth rate of approximately 63%, and reflects continued positive momentum across the Company's smart eyewear portfolio. Lucyd Armorﾮ, the Company's most popular product line, was recently named a recipient of the 2026 Red Dot Design Award, and the NHPA Retailer's Choice Award. According to a recent analysis, Lucyd Armor holds approximately 44% market share of smart safety glasses on Amazon.com, and to the Company's knowledge, remains the only smart safety glass on the platform with full safety certification in the US, Canada, and the European Union. Further, management believes the Company has now built a diverse product mix, multiple distribution channels, and the international footprint necessary to build on its position as an industry value leader in smart eyewear. Alongside its steady e-commerce growth, the Company is in discussions with several retailers to introduce Lucyd Armor and Reebok Powered by Lucyd products into stores across the US and Canada in 2026. This includes big box stores, traditional optical chains, and hardware and automotive chains. Additionally, several leading industrial and logistics companies are testing Lucyd products for workforce use, including DHL, Do It Best / True Value, and Thermo King. The Company has also launched a new white label offering at the last Vision Expo, to enable retailers and legacy eyewear brands to quickly introduce smart eyewear products in partnership with Innovative Eyewear. The Company already has an affirmative commitment for a white label line of smart safety glasses. Preliminary Q1 2026 results also reflect improved gross margins, with Q1 2026 gross profit margins showing a significant increase over full-year 2025 gross profit margins as the Company's previously announced tariff mitigation actions continue to be effective. "Our preliminary Q1 2026 results represent our strongest start to any year in Company history and reflect the accelerating momentum of our smart eyewear portfolio," said Harrison Gross, CEO of Innovative Eyewear. "Growing approximately 78% year-over-year in the first quarter, above our full-year 2025 pace of 63%, demonstrates that our brand, product, and distribution strategy is working. This momentum is further validated by industry recognition, including having just received the Red Dot 2026 Product Design award. Whilst these results remain subject to audit, we are highly encouraged by the preliminary Q1 2026 sales performance and by the commercial pipeline we are seeing in our optical, safety, and sporting goods channels. Demand for Armor's unique workforce connectivity solutions remain a highlight, as this product has excellent market fit." About Innovative Eyewear, Inc. Innovative Eyewear is a developer & manufacturer of cutting-edge ChatGPT enabled smart eyewear, under the Lucydﾮ, Lucyd Armorﾮ, Reebokﾮ, Nauticaﾮ and Eddie Bauerﾮ brands. True to our mission to Upgrade Your Eyewearﾮ, our Bluetooth audio glasses allow users to stay safely and ergonomically connected to their digital lives and are offered in hundreds of frame and lens combinations to meet the needs of the optical, sunglass, sporting goods and safety eyewear markets. To learn more and explore our continuously evolving collection of smart eyewear, please visit www.lucyd.co. Forward Looking Statements This press release contains certain forward-looking statements, including those relating to preliminary Q1 2026 sales results, gross margin recovery, the market for smart eyewear, expected industry award recognition, international expansion, and future growth prospects. Forward-looking statements are based on the Company's current expectations and assumptions. The Private Securities Litigation Reform Act of 1995 provides a safe-harbor for forward-looking statements. These statements may be identified by the use of forward-looking expressions, including, but not limited to, "anticipate," "believe," "continue," "estimate," "expect," "future," "intend," "may," "outlook," "plan," "potential," "predict," "project," "should," "will," "would" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 10-K under the caption "Risk Factors." Investor Relations Contact: Skyline Corporate Communications Group, LLC Scott Powell, President 1177 Avenue of the Americas, 5th Floor New York, NY 10036 Office: +1 (646) 893-5835 Email: [email protected] View original content to download multimedia:https://www.prnewswire.com/news-releases/innovative-eyewear-inc-announces-preliminary-q1-2026-results-302750198.html

Revenue increased 63% over prior year Gross Profit Margins increased by 8 percentage points despite tariff headwinds MIAMI, March 25, 2026 /PRNewswire/ -- Innovative Eyewear Inc., (NASDAQ: LUCY, LUCYW), the developer of smart eyewear under the Lucydﾮ, Lucyd Armorﾮ, Reebokﾮ, Nauticaﾮ, and Eddie Bauerﾮ brands, today announced its full year 2025 financial results. Net revenue for the year ended December 31, 2025 was approximately $2.67 million, an increase of $1.03 million or 63% from the year ended December 31, 2024. This strong year-over-year revenue growth was primarily driven by volume increases from sales of the Company's highly successful Lucyd Armorﾮ smart safety glasses (first launched in October 2024), which represented approximately half of the Company's total smartglass units sold in the current year. The cobranded Reebokﾮ Powered by Lucyd collection, which launched in April 2025, also contributed to the year-over-year volume increases. Total net revenue for the fourth quarter of 2025 was approximately $0.96 million, representing the highest quarterly sales amount since the Company's inception. Gross profit margin for 2025 was 21%, compared to 13% for 2024. This improvement in gross profit margin was primarily attributable to lower product sourcing costs for both frames and prescription lenses as the Company continues to scale and develop its business. These improvements were partially offset by the negative impacts of tariffs during the current year, as well as provisions for certain excess, obsolete, and slow-moving inventory. Although tariffs had a negative impact on current year margins, various actions taken by management to help mitigate the impact of tariffs have generally been successful thus far, and by the end of 2025 had largely restored gross profit margins to a level consistent with the Company's pre-tariff business plan expectations. Management continues to monitor international trade policy and develop contingency sourcing options should tariff and international trade conditions materially change. Total operating expenses in 2025 were approximately $9.06 million, an increase of $0.92 million or 11% from 2024. This increase was primarily driven by higher general administrative expenses, which increased by approximately $0.75 million year-over-year primarily due to the combination of higher employee compensation costs as the Company has expanded its team to fuel and support further growth, and higher license fees paid under multi-year cobranded license agreements. Sales and marketing expenses increased by approximately $0.26 million from prior year, primarily driven by increased spending on events and trade shows, as the Company grows and expands its network of potential business partners and retailers. The Company also recognized approximately $0.90 million of other non-operating income during the current year, primarily driven by the receipt of a $0.57 million settlement payment related to certain legal matters; the remaining amount of other income mainly related to interest and dividends earned on investments in U.S. Treasury bills and money market funds. The Company's net loss for 2025 was approximately $(7.59) million or $(1.90) per share, compared with $(7.77) million or $(5.19) per share in the prior year, reflecting the Company's continued investment in product development and market expansion to support further growth. Weighted average shares outstanding for the years ended December 31, 2025 and 2024 were approximately 3.99 million and 1.50 million, respectively. The Company ended the year with approximately $6.51 million of combined cash and cash equivalents and investments, compared with $7.52 million of combined cash and cash equivalents and investments as of December 31, 2024. Net working capital (current assets less current liabilities) was $8.39 million at December 31, 2025, and $8.50 million at the end of 2024. The Company had no debt outstanding as of December 31, 2025, and long-term liabilities of only $0.03 million. The Company generated significant amounts of proceeds from multiple equity offerings during both the current and prior year. Net cash flows provided by financing activities were $6.68 million in 2025 and $10.24 million in 2024. Additionally, during the fourth quarter of 2025, Innovative Eyewear announced several important milestones related to its product portfolio and distribution network, including: Launched three additional new variants of the extremely popular Lucyd Armor smart safety glasses, in order to expand the collection to a wider audience and build on the success of the original model with important variations in lens functionality and sizing. The Armor Slim model recently received ANSI certification, enabling it to be sold in the U.S. for safety applications. Lucyd Armor is currently available for purchase in the United States, Canada, and European Union markets, with all necessary safety certifications including ANSI Z87.1+, CSA Z94.3, and EN 16639:2018. Launched two new light-adaptive sport smartglass models in the Reebok Powered by Lucyd collection, designed for use in the gym and indoor sports. The Reebok smart eyewear collection offers the Company's most powerful music experience to-date, with an end-to-end overhauled sound system developed with leading audio engineers. Announced a new partnership with SmartBuyGlasses, one of the largest global online independent sellers of prescription, standard, and designer eyewear, to provide its Reebok smart eyewear to customers. Harrison Gross, CEO of Innovative Eyewear Inc., commented, "I am very pleased by our impressive sales growth for the year. We continue our upward trend of outperforming sales each quarter on a year-over-year basis, which we have done every quarter for over two years now. I am also pleased by the overall improvements in our gross profit margin during the year, despite headwinds from tariffs. We plan to build on the continued success and momentum of our most popular product lines, Lucyd Armorﾮ smart safety glasses, Lucyd Lyteﾮ, and Reebokﾮ Powered by Lucyd smartglasses. We are also excited about the potential of international growth and expansion, as we continue to make progress towards building a more globally focused business with significant distribution outside of the U.S. In summary, we believe that we are well positioned to deliver further revenue growth in 2026 and beyond." About Innovative Eyewear, Inc. Innovative Eyewear is a developer & manufacturer of cutting-edge ChatGPT enabled smart eyewear, under the Lucydﾮ, Lucyd Armorﾮ, Reebokﾮ, Nauticaﾮ, and Eddie Bauerﾮ brands. True to our mission to Upgrade Your Eyewearﾮ, our Bluetooth audio glasses allow users to stay safely and ergonomically connected to their digital lives and are offered in hundreds of frame and lens combinations to meet the needs of the optical, sunglass, sporting goods and safety eyewear markets. To learn more and explore our continuously evolving collection of smart eyewear, please visit www.lucyd.co. Forward-Looking Statements This press release contains certain forward-looking statements, including those relating to the Company's business operations, projections, market position, revenue growth, future product lines and developments. Forward-looking statements are based on the Company's current expectations and assumptions. The Private Securities Litigation Reform Act of 1995 provides a safe-harbor for forward-looking statements. These statements may be identified by the use of forward-looking expressions, including, but not limited to, "anticipate," "believe," "continue," "estimate," "expect," "future," "intend," "may," "outlook," "plan," "potential," "predict," "project," "should," "will," "would" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 10-K under the caption "Risk Factors." Investor Relations Contact: Skyline Corporate Communications Group, LLC Scott Powell, President 1177 Avenue of the Americas, 5th Floor New York, NY 10036 Office: +1 (646) 893-5835 Email: [email protected] View original content to download multimedia:https://www.prnewswire.com/news-releases/innovative-eyewear-inc-reports-full-year-2025-financial-results-302725172.html

MIAMI, March 10, 2026 /PRNewswire/ -- Innovative Eyewear, Inc. ("Innovative Eyewear" or the "Company") (NASDAQ: LUCY; LUCYW), the developer & manufacturer of smart eyewear under the Lucydﾮ, Lucyd Armorﾮ, Reebokﾮ, Nauticaﾮ, and Eddie Bauerﾮ brands, today announced its upcoming earnings conference call to share the Company's key operational and financial results for the fiscal year ended December 31, 2025. Earnings Call Details Date: Tuesday, March 31, 2026 Time: 12:00 PM ET Participant Listening Options Interested participants can join the event by using the dial-in numbers, or by clicking the link to join, provided below, for instant access to the call. U.S. Domestic: 1-800-717-1738 International: 1-646-307-1865 Link to Join: https://emportal.ink/3YW2tPL Event Replay Options A replay of Innovative Eyewear's earnings conference call will also be made available 3 hours following the conclusion of the call, accessible until Tuesday, April 14, 2026, at 11:59 PM ET. For anyone unable to attend the live event that would like to access the event replay, please dial the numbers and provide the access ID outlined below. Replay Dial-In: 1-844-512-2921 or 1-412-317-6671 Access ID: 1117463 About Innovative Eyewear, Inc. Innovative Eyewear is a developer & manufacturer of cutting-edge ChatGPT enabled smart eyewear, under the Lucydﾮ, Lucyd Armorﾮ, Reebokﾮ, Nauticaﾮ, and Eddie Bauerﾮ brands. True to our mission to Upgrade Your Eyewearﾮ, our Bluetooth audio glasses allow users to stay safely and ergonomically connected to their digital lives and are offered in hundreds of frame and lens combinations to meet the needs of the optical, sunglass, sporting goods and safety eyewear markets. To learn more and explore our continuously evolving collection of smart eyewear, please visit www.lucyd.co. Forward Looking Statements This press release contains certain forward-looking statements, including those relating to retail partners. Forward-looking statements are based on the Company's current expectations and assumptions. The Private Securities Litigation Reform Act of 1995 provides a safe-harbor for forward-looking statements. These statements may be identified by the use of forward-looking expressions, including, but not limited to, "anticipate," "believe," "continue," "estimate," "expect," "future," "intend," "may," "outlook," "plan," "potential," "predict," "project," "should," "will," "would" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 10-K under the caption "Risk Factors." Investor Relations Contact: Skyline Corporate Communications Group, LLC Scott Powell, President 1177 Avenue of the Americas, 5th Floor New York, NY 10036 Office: +1 (646) 893-5835 Email: [email protected] View original content to download multimedia:https://www.prnewswire.com/news-releases/innovative-eyewear-inc-announces-q4-and-full-year-2025-earnings-conference-call-302709886.html

Third Quarter Revenue Grew year over year by 163% and Gross Profit Margins Increased by 14% MIAMI, Nov. 13, 2025 /PRNewswire/ -- Innovative Eyewear Inc., (NASDAQ: LUCY, LUCYW), the developer of smart eyewear under the Lucyd®, Nautica®, Eddie Bauer®, and Reebok® brands, today announced its unaudited financial results for the three and nine months ended September 30, 2025. Net revenue for the quarter ended September 30, 2025 was $668,128, an increase of 163% from the quarter ended September 30, 2024. On a year-to-date basis, net revenue for the nine months ended September 30, 2025 was $1,701,859, an increase of 80% from the comparable period in 2024. For both the quarter and year-to-date periods, this top-line revenue growth was primarily driven by volume increases from sales of the Company's highly successful Lucyd Armor® smart safety glasses (launched in October 2024), which represented approximately half of the Company's total smartglass units sold in both the current quarter and year-to-date periods. The cobranded Reebok® Powered by Lucyd collection, which launched in April 2025, also contributed to the year-over-year volume increases. Gross profit margin for the third quarter of 2025 was 37%, compared to 23% for the same period in the prior year. Gross profit margin for the nine months ended September 30, 2025 was 27%, compared to 13% for the same period in the prior year. These significant increases were primarily attributable to lower product sourcing costs for both frames and prescription lenses as the Company continues to scale and develop its business. Management anticipates further cost improvements in future quarters as the Company continues to grow its volume and realize greater economies of scale. Although higher custom duties, tariffs and importation costs weighed heavily on gross profit margins in the second quarter, and therefore had a significant negative impact on the Company's current year-to-date margins, the various actions taken by management to help mitigate the impact of tariffs have been largely successful thus far, and restored third quarter 2025 gross profit margins to a level mostly consistent with the Company's pre-tariff business plan. Management continues to monitor trade policy and build contingency sourcing options in Southeast Asia, should the U.S.‑China tariff conditions materially change. Other operating expenses increased by 19% in the third quarter of 2025 as compared to the prior year, and increased by 10% on a year-to-date basis, primarily driven by increased sales and marketing expenses. As consumer awareness and market penetration of smart eyewear increases, and the category moves from the early adopter stage to mass market maturity, management expects that the Company's customer acquisition costs will decline over time as prospective customers will need less exposure to understand the benefits of smart eyewear. During the third quarter of 2025, Innovative Eyewear announced several important milestones which management believes bode well for the Company's future international expansion plans, including: Successful participation at Vision Expo West 2025, the premier optical industry trade show in the U.S., which resulted in the Company securing approximately 40 new optical industry accounts, developing new partnerships to expand distribution in the U.K., and meetings with new national distribution partners for Canada and Latin America. The accounts range in size from independent opticals to major regional operators with hundreds of stores. One new partnership of note is with the Optical Resources Group, a chain of half a dozen eyewear stores in the Midwest, and supplier of safety eyewear to industrial companies. Another is with Ocusafe.com, a supplier of safety glasses which is launching the Lucyd Armor line in Q4. Successful presentation at SILMO Paris 2025, one of the world's leading optics and eyewear trade shows, which resulted in the Company securing initial orders from multiple key European markets. Addition of a new translation feature to the Lucyd app, which allows for voice-based translation between 17 languages in real-time. Introduction of new variants to Lucyd Armor at the end of the quarter. The Armor Slim model has recently received ANSI certification, enabling it to be sold in the US for safety applications. Lucyd Armor is now available for purchase in the United States, Canada, and European Union markets, with all necessary safety certifications including ANSI Z87.1+, CSA Z94.3, and EN 16639:2018. Harrison Gross, CEO of Innovative Eyewear Inc., commented, "I am very pleased by our impressive sales growth for the quarter and the potential of international growth and expansion. We continue our upward trend of outperforming sales each quarter on a year-over-year basis, which we have done every quarter for over two years now. I am also pleased by the improvements in our gross profit margin during the quarter, despite the ongoing headwinds from tariffs. We plan to build on the continued success and momentum of our most popular product lines, Lucyd Armor® smart safety glasses, Lucyd Lyte® and Reebok® Powered by Lucyd smartglasses. We are also excited about the potential of international growth and expansion, as we continue to make progress towards building a more globally focused business with significant distribution outside of the U.S. Overall, we believe that we are well positioned to deliver further revenue growth in the fourth quarter of 2025 and beyond. We are confident that our smart eyewear will be a top gifting choice this holiday season, and that our fourth quarter will be the strongest yet." The Company's net loss for the third quarter of 2025 was $(1,836,267) or $(0.38) per share, compared with $(1,720,677) or $(0.99) per share in the third quarter of 2024, as the Company continues to invest in initiatives to further grow its business, including influencer marketing efforts, frequent trade shows in the eyewear, hardware and electronics industries, and sales and marketing team expansion. For the nine months ending September 30, 2025, the Company had a net loss of $(5,721,064) or $(1.62) per share, as compared with a $(5,640,387) or $(4.78) per share loss in the prior year comparable period. The Company ended the quarter with $7,998,202 of combined cash and cash equivalents and investments, a 6.3% increase compared with the $7,524,171 combined cash and cash equivalents and investments as of December 31, 2024. This increase in funds was primarily attributable to warrant exercises and other equity transactions entered into during the current nine-month period. Further, the Company had no debt at the end of the current period. About Innovative Eyewear, Inc. Innovative Eyewear is a developer of cutting-edge ChatGPT enabled smart eyewear, under the Lucyd®, Lucyd Armor®, Nautica®, Eddie Bauer®, and Reebok® brands. True to our mission to Upgrade Your Eyewear®, our Bluetooth smart glasses allow users to stay safely and ergonomically connected to their digital lives and are offered in hundreds of frame and lens combinations to meet the needs of the optical market. To learn more and explore our continuously evolving collection of smart eyewear, please visit www.lucyd.co. Forward-Looking Statements This press release contains certain forward-looking statements, including those relating to the Company's business operations, projections, market position, revenue growth, future product lines and developments. Forward-looking statements are based on the Company's current expectations and assumptions. The Private Securities Litigation Reform Act of 1995 provides a safe-harbor for forward-looking statements. These statements may be identified by the use of forward-looking expressions, including, but not limited to, "anticipate," "believe," "continue," "estimate," "expect," "future," "intend," "may," "outlook," "plan," "potential," "predict," "project," "should," "will," "would" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 10-K under the caption "Risk Factors." Investor Relations Contact: Scott Powell Skyline Corporate Communications Group, LLC Telephone: +1 (646) 893-5835 Email: [email protected] View original content to download multimedia:https://www.prnewswire.com/news-releases/innovative-eyewear-inc-reports-q3-2025-unaudited-financial-results-302613745.html

MIAMI, Sept. 24, 2025 /PRNewswire/ -- Innovative Eyewear, Inc. (NASDAQ: LUCY; LUCYW) (the "Company"), the manufacturer of smart eyewear under the Lucyd®, Lucyd Armor®, Reebok®, Eddie Bauer® and Nautica® brands, is pleased to report a successful appearance at Vision Expo West 2025, the premier optical industry trade show in the United States. Key highlights from the event include the following: The Company secured approximately 40 new optical industry accounts, including a strong blend of regional and independent players. Developed a new partnership to expand distribution into the UK. Met with enthusiastic new partners with national presences in Canada and LATAM. Received strong feedback on sneak previews of upcoming next-gen collections: the Reebok Powered by Lucyd optical line, and the Lucyd Aero prototype. The Reebok optical line will complement the eight current styles of Reebok sunglasses with six new styles for all day, indoor/outdoor wear. Lucyd Armor® ANSI-certified smart safety glasses stood out as an important offering, even for those who were already committed to another smart brand for standard optical. Compared to previous years, the Company observed a considerable increase in awareness and interest from optical professionals, signaling a growing desire for the integration of smart eyewear into modern optical solutions. Harrison Gross, CEO of Innovative Eyewear, said, "What a thrill to demonstrate our current and next-gen products with hundreds of folks who live and breathe eyewear and vision. The value of the feedback and industry connections we made at this show cannot be overstated. Upon demonstrating our eyewear, many attendees felt that our frames delivered the smart optical experience that they've been looking to bring to their patients. Our team will continue to do the hard work needed to deliver ergonomically-sound smartglasses for the whole family, and we look forward to making them available through more eye care providers in communities across North America and beyond. We have always envisioned that the future of eyewear is smart, and it's exciting to see the optical industry increasingly share this vision." About Innovative Eyewear Inc. Innovative Eyewear is a developer and retailer of ChatGPT smart eyewear, under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands. True to our mission to Upgrade Your Eyewear®, our Bluetooth smart glasses allow users to stay safely and ergonomically connected to their digital lives, and are offered in hundreds of frame and lens combinations to meet the needs of the optical market. To learn more and explore our continuously evolving collection of smart eyewear, please visit www.lucyd.co. Forward Looking Statements This press release contains certain forward-looking statements, including those relating to the anticipated introduction of new products and features, timing of improvements and enhancements to our current products and potential future partnerships. Forward-looking statements are based on the Company's current expectations and assumptions. The Private Securities Litigation Reform Act of 1995 provides a safe-harbor for forward-looking statements. These statements may be identified by the use of forward-looking expressions, including, but not limited to, "anticipate," "believe," "continue," "estimate," "expect," "future," "intend," "may," "outlook," "plan," "potential," "predict," "project," "should," "will," "would" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, statements regarding the expected launch date for the new smart safety eyewear connection. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 10-K under the caption "Risk Factors." Media Contact: Sai Main Email: [email protected] Investor Relations Contact: Scott Powell Skyline Corporate Communications Group, LLC Office: +1 (646) 893-5835 Email: [email protected] View original content to download multimedia:https://www.prnewswire.com/news-releases/innovative-eyewear-reports-strong-results-from-vision-expo-west-2025-302565302.html

Revenue Surged 88% in Q2 2025 vs. Q2 2024 MIAMI, Aug. 14, 2025 /PRNewswire/ -- Innovative Eyewear Inc., (NASDAQ: LUCY, LUCYW), the developer of smart eyewear under the Lucyd®, Nautica®, Eddie Bauer®, and Reebok® brands, today announced its unaudited financial results for the three and six months ended June 30, 2025. Net revenue for the quarter ended June 30, 2025 was $579,230, an increase of 88% from the quarter ended June 30, 2024. On a year-to-date basis, net revenue for the six months ended June 30, 2025 was $1,033,731, an increase of 49% from the comparable period in 2024. For both the quarter and year-to-date periods, this top-line revenue growth was primarily driven by growing consumer demand of the Company's recent new product launches – the Lucyd Armor® smart safety glasses (launched October 2024), and the Reebok® Powered by Lucyd collection (launched April 2025). The Lucyd Armor product line has been highly successful since its launch, and represented nearly half of the Company's total units sold during the current quarter. Additionally, the recently launched Reebok® Powered by Lucyd frames boast the Company's best audio quality to-date, as a result of a strategic initiative begun in 2024 to produce the best sounding smartglasses on the market, with a new team of audio engineers. The 88% revenue growth far outpaced growth in Company's operating expenses for the quarter, which increased by approximately 6%. Gross profit margin for the second quarter of 2025 was -2%, compared to 18% for the same period in the prior year. Gross profit margin for the six months ended June 30, 2025 was 20%, an increase of 11 percentage points from the prior year. This quarterly decrease of 20% was primarily due to significantly higher custom duties, tariffs, and importation costs. The Company is aggressively responding to the current tariff and international trade environment with a multi-pronged approach including diversification of its logistics network, expansion of ex-US sales, mild price increases on custom lenses and modification of its product fulfillment model. Actions taken by the Company are expected to mitigate the impacts of tariffs going forward. During the second quarter of 2025, Innovative Eyewear announced several important milestones, including: Successful launch of the long-awaited Reebok® Powered by Lucyd sport smart eyewear collection, which has been very well-received by customers. Entry into a partnership with Smartech Retail Group to showcase the Company's smart eyewear at Smartech's new TM:RW flagship department store, now open in Times Square of New York City. Entry into a partnership with EyeRecommend to provide the Company's smart eyewear to more than 600 independent optometry stores across Canada. New handsfree functionality with custom Siri commands for the Company's Walkie feature. Management believes that the success of the Lucyd Armor product line indicates that delivering smart eyewear for specific user niches can be a significant differentiator. With management's experience developing dozens of different styles and models of smart eyewear, the Company is uniquely positioned to address specific user needs in the sport, safety, and general optical categories. Harrison Gross, CEO of Innovative Eyewear Inc., commented, "I am very pleased by our performance and improved sales for the quarter, as we continue our upward trend of outperforming sales each quarter on a year-over-year basis, which we have done every quarter for the last 24 months. We are optimistic about the potential to mitigate the effect of tariffs on our gross margins in the future, as we build a more globally-focused business with significant distribution outside of the USA. Our sales growth materially outpaced our increased operating expenses as our marketing efforts continue to yield improved returns. Looking ahead to the second half of 2025, we believe we are well positioned to build on our momentum and significantly grow both revenue and market share. I am particularly excited about the potential of our newly launched Reebok® product line, which expanded our portfolio to include smart glasses for active lifestyles, coupled with the continued significant traction of the Lucyd Armor smart safety glasses. Both product lines address vast subsets of the eyewear market which are underserved by smart eyewear providers." Overall, the company's bottom line net loss for the second quarter of 2025 was $(2,106,094) or $(0.66) per share, compared with $(1,948,399) or $(1.87) per share in the second quarter of 2024, representing an 8% greater loss that was mainly due to significantly higher tariffs. For the six months ended June 30, 2025, the Company had a net loss of $(3,884,797) or $(1.37) per share, or a 1% smaller loss than $(3,919,710) or $(4.37) per share in the prior year comparable period. The Company ended the quarter with $8,912,645 of combined cash and cash equivalents and investments, compared with $7,524,171 combined cash and cash equivalents and investments as of December 31, 2024. This increase in funds was primarily attributable to warrant exercises and other equity transactions entered into during the current quarter. About Innovative Eyewear, Inc. Innovative Eyewear is a developer of cutting-edge ChatGPT enabled smart eyewear, under the Lucyd®, Nautica®, Eddie Bauer®, and Reebok® brands. True to our mission to Upgrade Your Eyewear®, our Bluetooth smart glasses allow users to stay safely and ergonomically connected to their digital lives and are offered in hundreds of frame and lens combinations to meet the needs of the optical market. To learn more and explore our continuously evolving collection of smart eyewear, please visit www.lucyd.co. Forward-Looking Statements This press release contains certain forward-looking statements, including those relating to the Company's business operations, projections, market position, future product lines and developments. Forward-looking statements are based on the Company's current expectations and assumptions. The Private Securities Litigation Reform Act of 1995 provides a safe-harbor for forward-looking statements. These statements may be identified by the use of forward-looking expressions, including, but not limited to, "anticipate," "believe," "continue," "estimate," "expect," "future," "intend," "may," "outlook," "plan," "potential," "predict," "project," "should," "will," "would" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 10-K under the caption "Risk Factors." Investor Relations Contact: Scott Powell Skyline Corporate Communications Group, LLC Telephone: +1 (646) 893-5835 Email: [email protected] View original content to download multimedia:https://www.prnewswire.com/news-releases/innovative-eyewear-inc-reports-q2-2025-unaudited-financial-results-302530520.html SOURCE Innovative Eyewear, Inc.

Revenue and gross margins improvements MIAMI, May 13, 2025 /PRNewswire/ -- Innovative Eyewear Inc., (NASDAQ: LUCY, LUCYW), the developer of smart eyewear under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands, today announced its Q1 2025 Unaudited financial results. Net revenue for the quarter ended March 31, 2025 was $454,501 an increase of 19% from revenue of $383,471 in the quarter ended March 31, 2024. This increase was primarily attributable to growth in unit sales volume, largely driven by product launches during 2024 of the co-branded Nautica® Powered by Lucyd and Eddie Bauer® Powered by Lucyd collections, as well as the Lucyd Armor safety smart glasses line. Also contributing to the growth in revenues were the Company's continued investments in marketing and advertising initiatives, as well as increased public interest and growth in smart glasses and the wearable products category. This growth preceded the launch of Reebok® by Lucyd in April 2025. Gross profit margin for Q1 2025 was 49%, compared with 2% for Q1 2024, driven by lower cost of frames and lower prescription lens fulfilment cost. The decrease in the cost of frames as compared to the prior year quarter was primarily attributable to the combination of realization of greater economies of scale and improvements in product price/mix. The decrease in lens fulfilment costs was attributable to actions taken by management in the prior year to better manage these costs including the launch of Lucyd Shift and Lucyd Blueshift transitional lenses in place of branded third-party transitional lenses and the engagement of a new lower-cost lens supplier based in Miami, Florida. Total operating expenses in Q1 2025 were $2,124,324, a 11% percent increase from total operating expenses of $2,021,542 in Q1 2024. Total operating and other expenses have remained relatively consistent between these periods. The Company had a net loss in Q1 2025 of $1,778,703, or $(0.72) per share, compared with a net loss of $1,971,311, or $(2.59) per share, in Q1 2024. These results reflect a tightening business operation that is finding its footing in an emerging sector, and prioritizing efficiency and operational sustainability. We believe that the success of the Lucyd Armor product line to date indicates that that delivering smart eyewear for specific user niches can be a significant differentiator. With our experience developing dozens of SKUs (stock-keeping units) of smart eyewear, we are well positioned to address specific user needs in the sport, safety, and general optical categories. In April 2025, we launched the Reebok® Powered by Lucyd sport smart sunglasses collection in eight different styles. This collection features custom high-fidelity speakers, powerful amplifiers, and equalizers specifically tuned for outdoor activities and sports environments. In order to support the launch and expansion of our Reebok® Powered by Lucyd and Lucyd Armor lines, we have recently expanded our sales team with the addition of two new sales directors, who have significant experience in optical sales and hardware sales. Harrison Gross, CEO of Innovative Eyewear Inc., commented, "Our 2025 first quarter revenue reflects our continued investments in product lines, marketing and advertising initiatives, as well as increased public interest and growth in smart glasses. We are also happy to see our efforts to improve gross margins bear effect. As we look ahead to the rest of 2025, we believe we are well positioned to build on our momentum and significantly grow total revenues and market share. I am particularly excited about the potential of our newly launched Reebok® product line, which expanded our portfolio to include smart glasses for active lifestyles, coupled with the continued significant traction of the Lucyd ArmorTM smart safety glasses. Both product lines address vast subsets of the eyewear market which were previously underserved by smart eyewear providers." About Innovative Eyewear, Inc. Innovative Eyewear is a developer of cutting-edge ChatGPT enabled smart eyewear, under the Lucyd®, Nautica®, Eddie Bauer® and Reebok® brands. True to our mission to Upgrade Your Eyewear®, our Bluetooth audio glasses allow users to stay safely and ergonomically connected to their digital lives and are offered in hundreds of frame and lens combinations to meet the needs of the optical market. To learn more and explore our continuously evolving collection of smart eyewear, please visit www.lucyd.co. Forward-Looking Statements This press release contains certain forward-looking statements, including those relating to the Company's business operations, projections, market position, introduction of future product lines and developments. Forward-looking statements are based on the Company's current expectations and assumptions. The Private Securities Litigation Reform Act of 1995 provides a safe-harbor for forward-looking statements. These statements may be identified by the use of forward-looking expressions, including, but not limited to, "anticipate," "believe," "continue," "estimate," "expect," "future," "intend," "may," "outlook," "plan," "potential," "predict," "project," "should," "will," "would" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 10-K under the caption "Risk Factors." Investor Relations Contact: Scott Powell Skyline Corporate Communications Group, LLC Telephone: +1 (646) 893-5835 Email: [email protected] View original content to download multimedia:https://www.prnewswire.com/news-releases/innovative-eyewear-inc-reports-q1-2025-unaudited-financial-results-302454553.html SOURCE Innovative Eyewear, Inc.