Tekcapital PLC on Tuesday noted that Innovative Eyewear Inc reported a jump in quarterly revenue.
The London-based intellectual property investor said Innovative Eyewear Inc reported an 82% quarter-on-quarter jump in revenue in the second quarter of 2024, to $308,682. It was more than doubled compared to the second quarter of 2023.
Tekcapital has a stake of around 17% in Innovative Eyewear.
‘These year-over-year increases were primarily attributable to significant volume growth in the ecommerce channel, driven by Innovative Eyewear’s strategic advertising and marketing initiatives implemented during the latter portion of 2023 and through the current period, combined with recent new product launches,’ Tekcapital noted.
The company added that during the quarter, Innovative Eyewear announced its first-to-market voice interface for ChatGPT via the launch of a Bixby app called Lucy to enable handsfree ChatGPT access on its glasses for Samsung users.
Tekcapital shares rose 6.7% to 7.58 pence each on Tuesday afternoon in London.
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