as of 08-24-2026 4:00pm EST
Kopin Corp is a provider of high-performance application-specific optical solutions consisting of high-resolution microdisplays and optics, subassemblies, and headsets. It serves soldiers, avionics, armored vehicles training and simulation military applications, and others. Its product portfolio includes Microdisplays, Spatial Light Modulators, Optical Modules, Medical, Training, and Simulation. Geographically, it derives a majority of its revenue from the Americas and also has a presence in Asia-Pacific; Europe, and Other Countries.
| Founded: | 1984 | Country: | United States |
| Employees: | N/A | City: | WESTBOROUGH |
| Market Cap: | 396.8M | IPO Year: | 2025 |
| Target Price: | $4.69 | AVG Volume (30 days): | 4.4M |
| Analyst Decision: | Strong Buy | Number of Analysts: | 4 |
| Dividend Yield: | N/A | Dividend Payout Frequency: | N/A |
| EPS: | -0.02 | EPS Growth: | 103.03 |
| 52 Week Low/High: | $1.81 - $6.61 | Next Earning Date: | 05-12-2026 |
| Revenue: | $1,530,311 | Revenue Growth: | 46.53% |
| Revenue Growth (this year): | 50.07% | Revenue Growth (next year): | 33.33% |
| P/E Ratio: | -252.00 | Index: | N/A |
| Free Cash Flow: | -16975825.0 | FCF Growth: | N/A |
SEC 8-K filings with transcript text
Aug 10, 2026 · 100% conf.
1D
+7.50%
$4.54
Act: +22.84%
5D
+19.02%
$5.03
Act: +25.68%
20D
+30.24%
$5.50
2 ex99-1.htm
Exhibit 99.1
Kopin Corporation Reports Second Quarter 2026 Financial Results
Three Major Milestones Achieved in U.S. Army Color MicroLED Program, Including Record-Setting 150,000+ Nit Full-Color Brightness and Installation of U.S. Bonding Capability, Keeping Kopin on Track for Domestic MicroLED Production in Mid-2027
Multiple Sentinel FPV™ Prototype Orders Received as U.S. Government’s Drone Dominance Program Accelerates; New Dallas Optics & Photonics Design Center to Accelerate Neural I/o™ Delivery for AI Infrastructure
MA — August 10, 2026 — Kopin Corporation (Nasdaq: KOPN) (“Kopin” or the “Company”), a leading
provider of application-specific optical systems and high-performance microdisplays for defense, AI-infrastructure, enterprise, industrial, consumer and medical products, today announced preliminary unaudited financial results for its second quarter ended June 27, 2026.
Second Quarter Financial Summary:
$ in millions
% Change
Total Revenues $12.7 $8.5 51%
Product Revenues $7.6 $7.5 2%
Non-Product Revenues *
$5.1 $1.0 433%
Cost of Product Revenues $6.6 $7.1 (7)%
R&D Expenses $4.5 $1.9 133%
SG&A Expenses $5.1 $4.9 5%
* Non-Product revenue consists of Funded R&D, Collaborative agreement, Grant, and license and royalty revenue streams
Second Quarter 2026 & Subsequent Operational Highlights
●Announced three major milestones in the Company’s color MicroLED development program under the U.S. Government’s Industrial Base Analysis and Sustainment (IBAS) initiative: surpassing 150,000 nits of single-panel, full-color brightness, exceeding the program’s threshold target; successful early integration progress toward U.S. Army ground soldier vision systems, supporting future programs such as Soldier Borne Mission Command (SBMC); and delivery of new U.S. MicroLED bonding equipment at the Company’s Westborough headquarters.
●Secured multiple new prototype orders for Sentinel FPV™ from customers evaluating the product as a core part of their offerings for the U.S. Government’s one-way attack (OWA) drone initiative, including several active contenders in the U.S. Government’s Drone Dominance Program (DDP). Each engagement represents the potential for significant volume production, with DDP volume orders expected to begin in late August 2026 immediately following Phase 2 evaluations and awards.
●Advanced the Company’s Neural I/o™ AI infrastructure initiative with Fabric.AI — signing several new non-disclosure agreements, including several with current NVIDIA NVLink partners; released the first in a planned series of AI Interconnect white papers.
●Opened a new Optics and Photonics Design Center in Dallas, Texas — expanding Kopin’s U.S.-based engineering footprint with new optics and photonics lab space, a dedicated design and engineering center, advanced R&D capabilities focused on Neural I/o™ and application-specific optical solutions serving the rapidly growing AI infrastructure market.
Management Commentary
Michael Murray, Chief Executive Officer of Kopin, said: “The second quarter and the weeks that followed demonstrated the significant momentum building across every one of Kopin’s growth platforms. Subsequent to quarter end, our team delivered three major milestones in our color MicroLED program under the IBAS initiative keeping us firmly on track to transition to domestic MicroLED product manufacturing in mid-2027, and advancing a capability that we believe could enable meaningful revenue for Kopin over the life of programs like SBMC. The U.S. Army is pleased with our progress, and beyond the Army program we are seeing strong international demand for color MicroLED across additional applications such as head-up displays, weapon sights, and helmet systems.
“Sentinel FPV™ is converting into exactly the kind of traction we anticipated when we entered the FPV drone market. Subsequent to quarter end, we announced multiple new prototype orders from customers — including several active contenders in the U.S. Government’s Drone Dominance Program — each of which represents the potential for significant volume production, with volume orders expected to begin in late August immediately following the program’s Phase 2 evaluations and awards. Demand for trusted, U.S.-built FPV technology is accelerating, and our Dual Situational Awareness design continues to be a clear differentiator in the field. Demand signals are strengthening from drone customers both inside and outside the Drone Dominance Program, and we are now negotiating several large production orders for 2027 — a clear signal of the significant growth we expect in this market.
“Our Neural I/o™ program remains on track, and we expect to demonstrate the platform at CES in January 2027, with a clear path to production anchored by a 1.6-terabit-per-second transceiver solution. Commercial momentum is building quickly with meaningful industry players interested in both our current chipset a
May 12, 2026 · 100% conf.
1D
-4.80%
$5.15
Act: -7.29%
5D
-13.53%
$4.68
Act: -17.74%
20D
+13.29%
$6.13
Act: -14.41%
2 ex99-1.htm
Exhibit 99.1
Kopin Corporation Reports First Quarter 2026 Financial Results
Strategic Collaboration with Fabric.AI Opens Multi-Billion-Dollar AI Infrastructure Opportunity Through Jointly-Developed Neural I/o™ Optical Interconnect Technology
$21.5 Million Follow-On Thermal Imaging Production Contract Awarded; Strong Balance Sheet Supporting Strategic Growth Investments Including U.S. OLED Microdisplay Manufacturing
MA — May 12, 2026 — Kopin Corporation (Nasdaq: KOPN) (“Kopin” or the “Company”), a leading provider
of application-specific optical systems and high-performance microdisplays for defense, training, enterprise, industrial, consumer and medical products, today announced preliminary unaudited financial results for its first quarter ended March 28, 2026.
First Quarter Financial Summary:
$ in millions
% Change
Total Revenues $10.6 $10.5 0%
Product Revenues $5.4 $9.2 (41)%
Non-Product Revenues *
$5.2 $1.3 292%
Cost of Product Revenues $5.6 $7.6 (26)%
R&D Expenses $4.9 $2.1 133%
SG&A Expenses $6.0 $4.7 28%
* Non-Product revenue consists of Funded R&D, Collaborative agreement, and Grant revenue streams
First Quarter 2026 & Subsequent Operational Highlights
●Announced strategic collaboration with Fabric.AI to jointly develop Neural I/o™, a MicroLED-based optical interconnect technology designed to replace copper wiring between GPUs and high-performance processors in AI data centers. Backed by a $15 million initial development order and a 19.9% equity stake in Fabric.AI as exclusive manufacturer of Neural I/o™ chipsets, the collaboration opens a multi-billion-dollar addressable market in AI hardware, specifically within US Government and Department of War applications which by-law require US manufacturing.
●Entered the FPV drone market with Sentinel FPV™, supported by an initial $3.2 million order with potential delivery of up to 40,000 goggles by year-end 2028. Sentinel FPV™ features industry-first Dual Situational Awareness (Dual SA) technology, letting operators view high-definition drone imagery while retaining peripheral awareness of their surroundings.
●Secured additional defense awards across the quarter and subsequent period, including: a $21.5 million follow-on thermal-imaging eyepiece production contract from a major U.S. defense prime; $5.6 million of new European pilot helmet-mounted display orders ($2 million Tier-1 production order plus $3.6 million advanced avionic HMD order for a rotary-wing platform); and a $1 million initial DarkWAVE™ development order from Theon International, transitioning the 960p OLED module to production-readiness for Theon’s DARK-I platform targeting the ~2 million installed base of standard night vision goggles.
●Awarded a Phase I SBIR contract from the U.S. Government to advance full-color, smaller-format MicroLED displays for soldier-borne applications — the second MicroLED-focused U.S. Army award in six months, building on the $15.4 million IBAS contract from September 2025.
●Announced full-scale U.S. OLED microdisplay manufacturing at the Company’s Westborough, Massachusetts headquarters with the purchase of a state-of-the-art OLED Deposition System and related equipment, addressing surging domestic demand for U.S.-built OLED microdisplays for FPV systems, thermal weapon sights, and other soldier-borne defense applications.
●Participated at the Needham Growth Conference, ROTH Conference, SHOT Show 2026, and SPIE AR/VR/MR 2026, and launched the 2026 Technology Demo Days Tour with events in New York City, Minneapolis, and Boston.
Management Commentary
Michael Murray, Chief Executive Officer of Kopin, said: “What we have achieved year-to-date 2026 marks a significant inflection point for Kopin. Subsequent to quarter end we announced our strategic collaboration with Fabric.AI — a transformational milestone that extends Kopin’s MicroLED and bi-directional NeuralDisplay™ capabilities into one of the fastest-growing segments of the technology market. Through our jointly-developed Neural I/o™ optical interconnect technology, we are repurposing programmable MicroLED pixels as ultra-high-speed optical transceivers designed to replace the dense copper wiring used between GPUs and high-performance processors in AI data centers. Backed by a $15 million initial development order from Fabric.AI and a 19.9% equity ownership stake, this collaboration broadens Kopin’s addressable market well beyond defense and industrial applications and positions the Company as a strategic enabler in the rapidly expanding AI hardware ecosystem.
“In parallel, the order momentum that built throughout 2025 in our core defense markets recovered as expected from Government shutdown(s) and accelerated in the first quarter of 2026. New European helmet-mounted display orders alone added more than $5 million of awards during the quarter, our $1 million DarkWAVE™ development order from Theon advanced our international expan
Mar 27, 2026
2 ex99-1.htm
Exhibit 99.1
Kopin Corporation Reports Fourth Quarter 2025 Financial Results
Balance Sheet Strengthened with $56 Million Capital Raise; Strategic Partnerships Advancing Key Defense Projects; Government Shutdown Delayed Revenue Recognition on Select Orders Industrywide
MA -- March 27, 2026 -- Kopin Corporation (Nasdaq: KOPN) (“Kopin” or the “Company”), a leading provider
of application-specific optical systems and high-performance microdisplays for defense, training, enterprise, industrial, consumer and medical products, today announced preliminary unaudited financial results for its fourth quarter ended December 27, 2025.
Fourth Quarter Financial Summary:
$ in millions
% Change
Total Revenues $8.4 $14.6 (42%)
Product Revenues $5.6 $12.6 (56%)
Non-Product Revenues *
$2.5 $1.7 47%
Cost of Product Revenues $4.7 $10.6 (56%)
R&D Expenses $3.5 $3.1 13%
SG&A Expenses $4.5 $3.1 45%
*Non-Product revenue consists of Funded R&D, Collaborative agreement, and Grant revenue streams
Fourth Quarter 2025 & Subsequent Operational Highlights
● Completed $56 million private placement from strategic and institutional investors, fortifying the Company’s balance sheet to support near-term growth.
● Continued to advance strategic partnership with Theon International, with sales commencing and aggressive 3-year strategic plan for revenue and technology sharing underway across Europe, Southeast Asia, and NATO markets.
● Continued progress on Color MicroLED development for Soldier Borne Mission Systems with several prime contractor selections and critical technology acquisition wins expected.
● Maintained strong pipeline with congressional budget demands through 2030 and indefinite demand, indefinite quantity (IDIQ) contracts providing upside revenue flexibility.
● Investments in internal research and development delivered new technologies released to production driving new customer demand and adoption. Several new products, in new markets, are expected to be announced, in 2026.
Management Commentary
Michael Murray, Chief Executive Officer of Kopin, said: “2025 was a transformative year for Kopin as we established critical strategic partnerships, secured landmark defense program wins, and strengthened our balance sheet through a $56 million capital raise from strategic and institutional investors. While fourth quarter revenues were impacted by the government shutdown and associated procurement delays, our pipeline remains strong and I believe our strategic positioning has never been better. Our partnership with Theon International is gaining traction across European, Southeast Asian, and NATO markets, and our defense programs continue to advance with congressional budget support through 2030.
“Operationally, our investments in automation are delivering healthy improvements in throughput, quality, and cost efficiency. The government shutdown temporarily slowed procurement activity in Q4, and we anticipate some continued impact into Q1 2026. However, with our strengthened balance sheet, expanded strategic partnerships, and growing defense program portfolio, we are well positioned to capitalize on the significant opportunities ahead. As the sole source provider of microdisplays for several Department of War programs of record, and the only company in the world producing four types of microdisplays, we enter 2026 with confidence in our ability to deliver meaningful revenue growth as government operations and order flow normalize which we are experiencing now,” concluded Murray.
Fourth Quarter 2025 Financial Results
Total revenues for the fourth quarter ended December 27, 2025, were $8.4 million, as compared to $14.6 million for the fourth quarter ended December 28, 2024. The year-over-year decrease in revenues was primarily attributable to the government shutdown and associated procurement delays which impacted timing of expected program orders, product shipments and contract activity during the quarter.
Product revenues for the fourth quarter were $5.6 million, as compared to $12.6 million in the year-ago period. The decrease was primarily due to government shutdown-related delays in product orders that several of our end customers experienced, resulting in lower orders and shipments of products for US defense applications. Standard Training and Simulation order flow which can ship within the same quarter was seasonally lower than expected as well. Product order flow has since returned to anticipated levels while new European product orders have exceeded forecast.
Non-Product
revenues were $2.5 million in the fourth quarter of 2025, as compared to $1.7 million in the fourth quarter of 2024. The increase was primarily driven by the IBAS color MicroLED development program; however, revenue and research awards were lower due to delays. Several of these new contracts have been awarded, with several others still expected.
Cost of product revenues for the fou
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