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Kopin Corporation, together with its subsidiaries, 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. The company offers miniature active-matrix liquid crystal displays, ferroelectric liquid crystal on silicon displays, organic light emitting diode displays, MicroLED display technologies, application specific optical solutions, backlights, and optical lenses. Its 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.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $38M | $-14M | $3M | $-17M | 4.1% | -23.6% | -105.9% |
| 2024 | $50M | $-18M | $-44M | $-15M | -188.5% | 24.6% | 122.2% |
| 2023 | $40M | $-17M | $-20M | $-16M | -66.9% | -14.8% | 2.2% |
| 2022 | $47M | $-21M | $-19M | $-19M | -80.0% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 47.40 | 40.39 | 50.34 | 38.47 |
| Operating Revenue | - | 47.40 | 40.39 | 50.34 | 38.47 |
| Cost Of Revenue | - | 32.56 | 24.95 | 36.16 | 27.83 |
| Gross Profit | - | 14.84 | 15.44 | 14.17 | 10.63 |
| Operating Expense | - | 36.63 | 32.62 | 32.48 | 25.59 |
| Research And Development | - | 18.67 | 10.78 | 9.64 | 10.15 |
| Selling General And Administration | - | 17.97 | 21.84 | 22.84 | 16.30 |
| Total Expenses | - | 69.19 | 57.57 | 68.64 | 53.42 |
| Operating Income | - | -21.79 | -17.18 | -18.31 | -14.95 |
| Total Operating Income As Reported | - | -21.79 | -17.18 | -43.11 | -9.85 |
| EBITDA | - | -21.07 | -16.57 | -17.67 | -14.12 |
| Normalized EBITDA | - | -23.44 | -13.08 | 8.56 | -30.62 |
| EBIT | - | -21.79 | -17.18 | -18.31 | -14.95 |
| Interest Income | - | 0.08 | 0.83 | 0.82 | 1.12 |
| Net Interest Income | - | 0.08 | 0.83 | 0.82 | 1.12 |
| Other Non Operating Income Expenses | - | 0.15 | 0.25 | 0.02 | 0.15 |
| Other Income Expense | - | 2.53 | -3.24 | -26.22 | 16.64 |
| Interest Income Non Operating | - | 0.08 | 0.83 | 0.82 | 1.12 |
| Net Non Operating Interest Income Expense | - | 0.08 | 0.83 | 0.82 | 1.12 |
| Pretax Income | - | -19.18 | -19.59 | -43.71 | 2.81 |
| Tax Provision | - | 0.14 | 0.16 | 0.17 | 0.21 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0.50 | -0.73 | 0 | 1.24 |
| Net Income Continuous Operations | - | -19.33 | -19.75 | -43.88 | 2.61 |
| Net Income From Continuing And Discontinued Operation | - | -19.33 | -19.75 | -43.88 | 2.61 |
| Net Income From Continuing Operation Net Minority Interest | - | -19.33 | -19.75 | -43.88 | 2.61 |
| Net Income | - | -19.33 | -19.75 | -43.88 | 2.61 |
| Net Income Common Stockholders | - | -19.33 | -19.75 | -43.88 | 2.55 |
| Net Income Including Noncontrolling Interests | - | -19.33 | -19.75 | -43.88 | 2.61 |
| Normalized Income | - | -21.20 | -16.99 | -17.64 | -12.65 |
| Diluted NI Availto Com Stockholders | - | -19.33 | -19.75 | -43.88 | 2.55 |
| Basic Average Shares | - | 91.43 | 108.98 | 132.88 | 171.25 |
| Diluted Average Shares | - | 91.43 | 108.98 | 132.88 | 171.25 |
| Reconciled Depreciation | - | 0.72 | 0.61 | 0.64 | 0.83 |
| Reconciled Cost Of Revenue | - | 32.56 | 24.95 | 36.16 | 27.83 |
| Total Unusual Items | - | 2.38 | -3.49 | -26.24 | 16.49 |
| Total Unusual Items Excluding Goodwill | - | 2.38 | -3.49 | -26.24 | 16.49 |
| Preferred Stock Dividends | - | - | - | - | 0.06 |
| Minority Interests | 0.04 | 0 | 0 | 0 | - |
| Special Income Charges | - | 0 | 0 | -24.80 | 16.20 |
| Gain On Sale Of Business | - | - | - | - | 11.10 |
| Other Special Charges | - | - | - | 24.80 | -5.10 |
| Impairment Of Capital Assets | 0 | - | - | - | - |
| Gain On Sale Of Security | - | 2.38 | -3.49 | -1.44 | 0.29 |
| Other Operating Expenses | - | - | - | - | -0.86 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Kopin Corporationthis co. | KOPN | $1.2B | 448.43↑ premium | 18.23 | 4.1% | -80.28 |
| VIA | VIA | $1.3B | -13.50 | 2.07 | -15.4% | -12.17 |
| Pagaya Technologies Ltd. | PGY | $1.3B | 15.74 | 2.67 | 17.0% | 7.50 |
| Sprinklr, Inc. | CXM | $1.3B | 54.96 | 2.12 | 3.9% | 15.02 |
| GigaCloud Technology Inc. | GCT | $1.2B | 8.83 |
| - |
| - |
| - |
| - |
| - |
| 2.50 |
| 28.3% |
| 7.68 |
| Digital Turbine, Inc. | APPS | $1.1B | -29.80 | 5.86 | -19.6% | 13.80 |
| Upbound Group, Inc. | UPBD | $1.1B | 14.49 | 1.52 | 10.5% | 1.61 |
| WhiteFiber, Inc. | WYFI | $1.1B | - | 21.36 | -5.1% | - |
| Corsair Gaming, Inc. | CRSR | $1.1B | -65.61 | 1.67 | -2.6% | 22.45 |
| Peer Median | - | 8.83 | 2.31 | 0.7% | 7.68 | |