Kopin Corp
NASDAQ:KOPN
Kopin Corp
Kopin Corp. engages in the development, manufacture and sale of wearable technologies which include components and systems. The company is headquartered in Westborough, Massachusetts and currently employs 181 full-time employees. The firm is focused on providing critical components and subsystems for wearable computing systems for military, enterprise, industrial and consumer products. The company offers active-matrix liquid crystal displays (AMLCDs), reflective liquid crystal on silicon (LCOS) displays, organic light emitting diode (OLED), displays, application specific integrated circuits (ASICs), backlights, and optical lenses. Its products are used for soldier, avionic, armored vehicle, and training and simulation defense applications; industrial, public safety and medical headsets; three-dimensional (3D) optical inspection systems; and consumer augmented reality (AR) and virtual reality (VR) wearable headsets systems. The company offers a variety of backlights, some of which are developed internally and some of which are off-the-shelf components.
Kopin Corp. engages in the development, manufacture and sale of wearable technologies which include components and systems. The company is headquartered in Westborough, Massachusetts and currently employs 181 full-time employees. The firm is focused on providing critical components and subsystems for wearable computing systems for military, enterprise, industrial and consumer products. The company offers active-matrix liquid crystal displays (AMLCDs), reflective liquid crystal on silicon (LCOS) displays, organic light emitting diode (OLED), displays, application specific integrated circuits (ASICs), backlights, and optical lenses. Its products are used for soldier, avionic, armored vehicle, and training and simulation defense applications; industrial, public safety and medical headsets; three-dimensional (3D) optical inspection systems; and consumer augmented reality (AR) and virtual reality (VR) wearable headsets systems. The company offers a variety of backlights, some of which are developed internally and some of which are off-the-shelf components.
Revenue Decline: Q3 2025 revenue was $12 million, down from $13.3 million last year, mainly due to lower sales in pilot helmet and training simulation products.
Return to Profit: Net income reached $4.1 million (or $0.02 per share), reversing a net loss of $3.5 million a year ago, largely due to a $5.1 million reduction in litigation accruals.
SG&A Drop: SG&A expenses fell sharply to $1.6 million from $5.2 million last year, driven by lower legal costs, which are not expected to recur.
Balance Sheet Strengthened: Kopin raised $41 million from strategic and institutional investors and completed a $15 million transaction with an individual investor post-quarter, boosting cash and removing doubts about ongoing operations.
Strong Pipeline: The company has surpassed $1 billion in current opportunity pipeline, with about 80% of backlog needed to meet 2026 plans and strong visibility on major programs through 2027–2030.
Strategic Partnerships: New partnerships with Theon International, Ondas Holdings, and Unusual Machines are expected to drive growth in defense and drone markets, especially in Europe.
European Expansion: European defense revenues currently near zero but expected to reach "single high millions" in 2026 and "tens of millions" in 2027–28.
Operational Improvements: Manufacturing automation and integration initiatives are nearly complete, with early results showing efficiency and quality gains.
