Kopin Corp
kopin.comWhat Do They Do?
Designs and sells miniature displays, optical components and integrated subsystems for defense, industrial and medical customers.
10-K for FY2025, filed Apr 13, 2026Kopin Corporation, a Delaware corporation, incorporated in 1984, and is headquartered in Westborough, Massachusetts, is a leader of…View ↗
While microdisplays remain a core competency for Kopin, we also bring value to our customers through the design and manufacture of…View ↗
Our displays are critical for near-eye applications, such as thermal weapon sights and pilot helmets in defense, wearable headsets for…View ↗
How Do They Make Money?
Most revenue comes from display and optical product sales. Industrial and consumer purchase orders are paid after shipment; government development contracts are paid as work progresses, at milestones, or on a contract schedule.
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10-K for FY2025, filed Apr 13, 2026
FY2025 revenue by product or service ↗
$1.5M
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10-K for FY2025, filed Apr 13, 2026
$1.5M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Net Product Revenues
Mix
|
84% |
Net Product Revenues, FY2025
$33.1M Sources
|
Mix |
|
Research and Development Revenues
|
12% |
Research and Development Revenues, FY2025
$4.6M Sources
|
|
|
Grant Income
|
2.2% |
Grant Income, FY2025
$858.1K Sources
|
|
|
Collaboration Arrangement Income
|
1.0% |
Collaboration Arrangement Income, FY2025
$398.9K Sources
|
|
|
License and Other Revenues
Licensed
|
1.0% |
License and Other Revenues, FY2025
$409.9K Sources
|
Licensed |
Who Are Their Customers?
The U.S. government and its prime contractors buy defense products and fund development work; industrial, medical and consumer companies use Kopin products, and industrial and consumer orders may go through distributors.
10-K for FY2025, filed Apr 13, 2026Substantially all of our product revenues are derived from the sales of microdisplays, which are sold as individual displays, modules that…View ↗
Our displays are critical for near-eye applications, such as thermal weapon sights and pilot helmets in defense, wearable headsets for…View ↗
For our commercial customers, the Company’s revenue is recognized when obligations under the terms of a contract with our customer are…View ↗
Do Revenues Turn Into Profits?
Yes. Its net income in FY2025 was larger than its revenue, but spent more cash than it brought in: free cash flow was −$16.9M.
10-K for FY2025, filed Apr 13, 2026
−$9.9MView ↗
10-K for FY2025, filed Apr 13, 2026
$2.6MView ↗
10-K for FY2025, filed Apr 13, 2026
−$16.9MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 11, 2026
$830.9KView ↗
- ▲ Now profitable
- vs −$5.2M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 11, 2026
Open tableView ↗
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Aug 10, 2026
Said second-half results should exceed prior guidance
Sources
8-K, filed Aug 10, 2026
Erich Manz, Chief Financial Officer of Kopin, added: “The second quarter reflected continued operational discipline, including our fourth…View ↗
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Apr 29, 2026
Agreed to develop AI-infrastructure optical interconnect technology
Fabric AI agreed to fund development, and Kopin will be the exclusive manufacturer of resulting chipsets.
Sources
8-K, filed Apr 29, 2026
WESTBOROUGH, Mass. – April 28, 2026 - Kopin Corporation (NASDAQ: KOPN), a leading provider of application-specific optical systems and…View ↗
Shrinking. Revenue fell 65% in 4 years, from $4.4M in FY2021 to $1.5M in FY2025, about 23% a year.
Who Do They Compete With?
Competes with AUO, BOE Technology Group, Himax, LG Display, Samsung, Sharp, and Sony
10-K for FY2025, filed Apr 13, 2026The general commercial display market is highly competitive, and we face competition from large Asian electronics companies such as AUO…View ↗
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