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Kopin Corporation

Kopin Corporation

NASDAQ•KOPN
CEO: Mr. Michael Murray
Sector: Technology
Industry: Hardware, Equipment & Parts
Listing Date: 1992-04-15
Kopin Corporation, together with its subsidiaries, invents, develops, manufactures, and sells microdisplays, subassemblies, and related components for defense, enterprise, industrial, and consumer products in the United States, the Asia-Pacific, Europe, and internationally. It offers miniature active-matrix liquid crystal displays, liquid crystal on silicon displays/spatial light modulators, organic light emitting diode displays, microLED display technologies, application specific integrated circuits, backlights, and optical lenses; and head-mounted and hand-held VR products. The company's products are used for soldier thermal weapon rifle sights, avionic fixed and rotary wing pilot helmets, armored vehicle targeting systems, and training and simulation headsets; industrial and medical headsets; 3D optical inspection systems; and consumer augmented reality and virtual reality wearable headsets systems. Kopin Corporation was incorporated in 1984 and is headquartered in Westborough, Massachusetts.
Contact Information
125 North Drive, Westborough, MA, 01581-3335, United States
508-870-5959
www.kopin.com
Market Cap
$581.99M
P/E (TTM)
-89.4
33.4
Dividend Yield
--
52W High
$4.16
52W Low
$0.71
52W Range
75%
Rank54Top 78.1%
2.7
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 2.7 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q3 2025 Data

Revenue

$11.96M-10.19%
4-Quarter Trend

EPS

$0.02-188.13%
4-Quarter Trend

FCF

-$217.05K-96.64%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Nine Month Net Loss Reduced Nine month net loss significantly narrowed to $(4.20M) USD from $(41.93M) USD year prior, driven by litigation accrual benefit.
Litigation Accrual Reduced Accrued litigation damages reduced by $5.1M USD following post-trial order; remaining liability stands at $19.7M USD pending appeal.
Strong Post-Period Financing Secured $38.1M net proceeds from September PIPE financing, resolving going concern doubt for next twelve months.
Contract Assets Increased Current contract assets grew to $9.95M USD, primarily due to increased earned amounts from defense production contracts over time.

Risk Factors

Persistent Control Weaknesses Material weaknesses in IT general controls and documentation remain, impacting timely, complete financial reporting processes.
Semiconductor Supply Constraints Continued long lead times for critical semiconductor components risk preventing product completion and sales realization.
Continued Operating Losses Expect significant operating losses and negative cash flow from operations to continue in the foreseeable future.
Litigation Outcome Uncertainty $19.7M litigation liability remains subject to appeal outcome, potentially affecting future cash flows and financial condition.

Outlook

R&D Revenue Expected Growth Funded R&D revenues projected to increase in fiscal year 2026 due to new $15.4M OTA contract award.
Strategic Investment Closed Completed $15M strategic investment from Theon, acquiring 49% interest in Kopin Europe subsidiary.
Capital Spending Forecast Expect capital expenditures between $1.0M USD and $2.0M USD for the remainder of fiscal year 2025.
Revenue Recognition Shift Revenue recognition over time increased to 87% of nine-month revenue, driven by defense production contracts.

Peer Comparison

Revenue (TTM)

LightPath Technologies, Inc.LPTH
$15.09B
+46974.6%
Bakkt Holdings, Inc.BKKT
$3.85B
+102.0%
Full Truck Alliance Co. Ltd.YMM
$1.73B
+19.1%

Gross Margin (Latest Quarter)

Sprout Social, Inc.SPT
77.7%
+0.3pp
Full Truck Alliance Co. Ltd.YMM
52.2%
-2.8pp
ADTRAN Holdings, Inc.ADTN
38.3%
+0.9pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
YMM$10.27B0.910.3%0.1%
ICHR$1.02B-24.9-5.9%16.9%
GDYN$777.66M55.92.6%2.2%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-6.5%
Growth Under Pressure
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
0%
Cash Flow Needs Attention

Research & Insights

Next earnings:Apr 16, 2026
|
EPS:-$0.02
|
Revenue:-
Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 27, 2025|Filed: Nov 12, 2025|
    Revenue: $11.96M-10.2%
    |
    EPS: $0.02-188.1%
    Meet
  • Form 10-Q - Q2 2025

    Period End: Jun 28, 2025|Filed: Aug 12, 2025|
    Revenue: $8.45M-31.5%
    |
    EPS: $-0.03-36.3%
    Miss
  • Form 10-K/A - FY 2024

    Period End: Dec 28, 2024|Filed: May 20, 2025|
    Revenue: $50.34M+24.6%
    |
    EPS: $-0.33-83.3%
    Miss
  • Form 10-K/A - FY 2024

    Period End: Dec 28, 2024|Filed: May 13, 2025|Refer to amended data
  • Form 10-Q - Q1 2025

    Period End: Mar 29, 2025|Filed: May 13, 2025|
    Revenue: $10.54M+5.0%
    |
    EPS: $-0.02-93.1%
    Miss
  • Form 10-K - FY 2024

    Period End: Dec 28, 2024|Filed: Apr 17, 2025|Refer to amended data
  • Form 10-Q - Q3 2024

    Period End: Sep 28, 2024|Filed: Nov 12, 2024|
    Revenue: $13.32M+25.7%
    |
    EPS: $-0.03+25.2%
    Beat
  • Form 10-Q - Q2 2024

    Period End: Jun 29, 2024|Filed: Aug 8, 2024|
    Revenue: $12.34M+17.9%
    |
    EPS: $-0.05-34.4%
    Miss