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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 | 3.6% | -23.6% | - |
| 2024 | $50M | $-18M | $-44M | $-15M | -188.5% | 24.6% | - |
| 2023 | $40M | $-17M | $-20M | $-16M | -66.9% | -14.8% | - |
| 2022 | $47M | $-21M | $-19M | $-19M | -80.6% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total 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 |
| Operating Income | -21.79 | -17.18 | -18.31 | -14.95 |
| EBITDA | -21.07 | -16.57 | -17.67 | -14.12 |
| EBIT | -21.79 | -17.18 | -18.31 | -14.95 |
| Pretax Income | -19.18 | -19.59 | -43.71 | 2.81 |
| Tax Provision | 0.14 | 0.16 | 0.17 | 0.21 |
| Net Income | -19.33 | -19.75 | -43.88 | 2.61 |
| Net Income Common Stockholders | -19.33 | -19.75 | -43.88 | 2.55 |
| Total Expenses | 69.19 | 57.57 | 68.64 | 53.42 |
| Interest Income | 0.08 | 0.83 | 0.82 | 1.12 |
| Research And Development | 18.67 | 10.78 | 9.64 | 10.15 |
| Selling General And Administration | 17.97 | 21.84 | 22.84 | 16.30 |
| Normalized EBITDA | -23.44 | -13.08 | 8.56 | -30.62 |
| Normalized Income | -21.20 | -16.99 | -17.64 | -12.65 |
| Basic EPS | -0.21 | -0.18 | -0.33 | 0.01 |
| Diluted EPS | -0.21 | -0.18 | -0.33 | 0.01 |
| Tax Effect Of Unusual Items | 0.50 | -0.73 | 0 | 1.24 |
| Tax Rate For Calcs | 0.21 | 0.21 | 0 | 0.07 |
| Total Unusual Items | 2.38 | -3.49 | -26.24 | 16.49 |
| Total Unusual Items Excluding Goodwill | 2.38 | -3.49 | -26.24 | 16.49 |
| Net Income From Continuing Operation Net Minority Interest | -19.33 | -19.75 | -43.88 | 2.61 |
| Reconciled Depreciation | 0.72 | 0.61 | 0.64 | 0.83 |
| Reconciled Cost Of Revenue | 32.56 | 24.95 | 36.16 | 27.83 |
| Net Interest Income | 0.08 | 0.83 | 0.82 | 1.12 |
| Net Income From Continuing And Discontinued Operation | -19.33 | -19.75 | -43.88 | 2.61 |
| Total Operating Income As Reported | -21.79 | -17.18 | -43.11 | -9.85 |
| Diluted Average Shares | 91.43 | 108.98 | 132.88 | 171.25 |
| Basic Average Shares | 91.43 | 108.98 | 132.88 | 171.25 |
| Diluted NI Availto Com Stockholders | -19.33 | -19.75 | -43.88 | 2.55 |
| Preferred Stock Dividends | 0 | 0 | 0 | 0.06 |
| Minority Interests | 0 | 0 | 0 | 0 |
| Net Income Including Noncontrolling Interests | -19.33 | -19.75 | -43.88 | 2.61 |
| Net Income Continuous Operations | -19.33 | -19.75 | -43.88 | 2.61 |
| Other Income Expense | 2.53 | -3.24 | -26.22 | 16.64 |
| Other Non Operating Income Expenses | 0.15 | 0.25 | 0.02 | 0.15 |
| Special Income Charges | 0 | 0 | -24.80 | 16.20 |
| Gain On Sale Of Business | 0 | 0 | 0 | 11.10 |
| Other Special Charges | 0 | 0 | 24.80 | -5.10 |
| Impairment Of Capital Assets | 0 | 0 | 0 | 0 |
| Gain On Sale Of Security | 2.38 | -3.49 | -1.44 | 0.29 |
| Net Non Operating Interest Income Expense | 0.08 | 0.83 | 0.82 | 1.12 |
| Interest Income Non Operating | 0.08 | 0.83 | 0.82 | 1.12 |
| Other Operating Expenses | 0 | 0 | 0 | -0.86 |
| Operating Revenue | 47.40 | 40.39 | 50.34 | 38.47 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Kopin Corporationthis co. | KOPN | $700M | 393.00↑ premium | 10.86 | 3.6% | -47.38 |
| Vishay Precision Group, Inc. | VPG | $748M | 140.68 | 2.22 | 1.6% | 27.99 |
| AMBQ | AMBQ | $742M | - | 3.92 | -22.4% | -18.54 |
| Daily Journal Corporation | DJCO | $730M | 7.82 | 1.90 | 28.7% | 21.31 |
| NETGEAR, Inc. | NTGR | $708M | - |
| 1.45 |
| -3.6% |
| -25.07 |
| Sabre Corporation | SABR | $707M | 1.37 | -0.68 | -49.9% | 13.74 |
| i3 Verticals, Inc. | IIIV | $682M | 279.88 | 1.41 | 3.5% | 25.50 |
| Viant Technology Inc. | DSP | $678M | 29.47 | 2.27 | 2.9% | 7.33 |
| VTEX | VTEX | $656M | 35.00 | 2.85 | 8.6% | 22.32 |
| Peer Median | - | 32.24 | 2.06 | 2.2% | 17.52 | |