2023 Q3 Form 10-Q Financial Statement

#000149315223027828 Filed on August 11, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2022 Q2
Revenue $798.9K $11.91M
YoY Change -94.03% 20.23%
Cost Of Revenue $5.697M $7.906M
YoY Change -28.67% 30.8%
Gross Profit $4.763M $4.003M
YoY Change -11.65% 3.68%
Gross Profit Margin 596.17% 33.61%
Selling, General & Admin $6.466M $4.327M
YoY Change 49.67% 7.09%
% of Gross Profit 135.76% 108.11%
Research & Development $3.132M $5.145M
YoY Change -8.98% 37.57%
% of Gross Profit 65.77% 128.55%
Depreciation & Amortization $163.2K $267.7K
YoY Change 25.58% 32.49%
% of Gross Profit 3.43% 6.69%
Operating Expenses $15.30M $17.38M
YoY Change 97.07% 25.7%
Operating Profit -$4.836M -$5.470M
YoY Change 103.98% 39.52%
Interest Expense -$3.342M -$137.5K
YoY Change 59.83% -231.58%
% of Operating Profit
Other Income/Expense, Net -$3.306M -$141.1K
YoY Change 57.88% -236.18%
Pretax Income -$8.141M -$5.611M
YoY Change 82.36% 47.01%
Income Tax $39.00K $36.00K
% Of Pretax Income
Net Earnings -$8.180M -$5.647M
YoY Change 81.76% 46.72%
Net Earnings / Revenue -1023.95% -47.42%
Basic Earnings Per Share -$0.07 -$0.06
Diluted Earnings Per Share -$0.07 -$62.53K
COMMON SHARES
Basic Shares Outstanding 109.9M shares 90.30M shares
Diluted Shares Outstanding 109.9M shares 90.30M shares

Balance Sheet

Concept 2023 Q3 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $25.67M $18.56M
YoY Change 71.48% -39.72%
Cash & Equivalents $10.11M $13.63M
Short-Term Investments $15.56M $4.928M
Other Short-Term Assets $2.094M $2.262M
YoY Change 18.97% -2.93%
Inventory $7.878M $6.926M
Prepaid Expenses
Receivables $6.171M $7.049M
Other Receivables $0.00 $0.00
Total Short-Term Assets $45.92M $40.06M
YoY Change 20.29% -19.88%
LONG-TERM ASSETS
Property, Plant & Equipment $1.800M $1.739M
YoY Change -65.16% -44.24%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $4.626M $9.832M
YoY Change -39.23% 116.54%
Other Assets $169.1K $170.9K
YoY Change -1.05% 5.21%
Total Long-Term Assets $9.443M $15.51M
YoY Change -27.08% 98.27%
TOTAL ASSETS
Total Short-Term Assets $45.92M $40.06M
Total Long-Term Assets $9.443M $15.51M
Total Assets $55.36M $55.57M
YoY Change 8.29% -3.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.507M $4.861M
YoY Change 31.8% -4.69%
Accrued Expenses $6.516M $5.754M
YoY Change -21.33% 0.48%
Deferred Revenue $555.0K $3.047M
YoY Change -49.45%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $14.91M $14.94M
YoY Change -1.39% -7.11%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.391M $2.016M
YoY Change -66.48% -4.04%
Total Long-Term Liabilities $1.391M $2.016M
YoY Change -66.48% -4.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.91M $14.94M
Total Long-Term Liabilities $1.391M $2.016M
Total Liabilities $19.44M $20.18M
YoY Change 1.79% 12.06%
SHAREHOLDERS EQUITY
Retained Earnings -$349.2M -$326.1M
YoY Change 5.11%
Common Stock $1.104M $918.0K
YoY Change 19.16%
Preferred Stock
YoY Change
Treasury Stock (at cost) $103.1K
YoY Change
Treasury Stock Shares
Shareholders Equity $35.93M $35.56M
YoY Change
Total Liabilities & Shareholders Equity $55.36M $55.57M
YoY Change 8.29% -3.9%

Cashflow Statement

Concept 2023 Q3 2022 Q2
OPERATING ACTIVITIES
Net Income -$8.180M -$5.647M
YoY Change 81.76% 46.72%
Depreciation, Depletion And Amortization $163.2K $267.7K
YoY Change 25.58% 32.49%
Cash From Operating Activities -$3.818M -$9.154M
YoY Change -8.36% 71.09%
INVESTING ACTIVITIES
Capital Expenditures $134.0K -$80.57K
YoY Change -460.15% -75.1%
Acquisitions
YoY Change
Other Investing Activities $5.465M -$995.7K
YoY Change -1237.33% -5351.37%
Cash From Investing Activities $5.331M -$1.076M
YoY Change -1129.75% 253.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 2.027M
YoY Change -100.0% 141.96%
NET CHANGE
Cash From Operating Activities -3.818M -9.154M
Cash From Investing Activities 5.331M -1.076M
Cash From Financing Activities 0.000 2.027M
Net Change In Cash 1.514M -8.204M
YoY Change -139.31% 70.29%
FREE CASH FLOW
Cash From Operating Activities -$3.818M -$9.154M
Capital Expenditures $134.0K -$80.57K
Free Cash Flow -$3.952M -$9.074M
YoY Change -4.28% 80.5%

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us-gaap Increase Decrease In Inventories
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Basis Of Accounting
BasisOfAccounting
<p id="xdx_800_eus-gaap--BasisOfAccounting_zRFwPl5Mqyr" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1. <span id="xdx_820_zJplBdsr4xsi">BASIS OF PRESENTATION</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 22.5pt; text-align: justify; text-indent: -22.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The condensed consolidated financial statements of Kopin Corporation as of July 1, 2023 and for the six month periods ended July 1, 2023 and June 25, 2022 are unaudited and include all adjustments that, in the opinion of management, are necessary to present fairly the results of operations for the periods then ended. These condensed consolidated financial statements should be read in conjunction with the Company’s financial statements and notes thereto, included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022. The results of the Company’s operations for any interim period are not necessarily indicative of the results of the Company’s operations for any other interim period or for a full fiscal year. As used in this report, the terms “we”, “us”, “our”, “Kopin” and the “Company” mean Kopin Corporation and its subsidiaries, unless the context indicates another meaning.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 22.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The condensed consolidated financial statements for the six months ended July 1, 2023 include the accounts of Kopin Corporation and its wholly owned subsidiaries. The condensed consolidated financial statements for the six months ended June 25, 2022 include the accounts of Kopin Corporation and its wholly owned subsidiaries. Net loss attributable to noncontrolling interest in the Company’s condensed consolidated statements of operations for the six months ended June 25, 2022 represents the <span id="xdx_903_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_c20220625__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--EMDTMember_zdl2YqsKBJe2" title="Equity ownership percentage">20</span>% of the results of operations of a former partially owned subsidiary which is allocated to the shareholders of the equity interests not owned by the Company. All intercompany transactions and balances have been eliminated.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 22.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s current strategy is to continue to invest in research and development, even during unprofitable periods, which may result in the Company continuing to incur net losses and negative cash flows from operations. If the Company is unable to achieve and maintain positive cash flows and profitability in the foreseeable future, its financial condition may ultimately be materially adversely affected such that management may be required to reduce operating expenses, including investments in research and development, or raise additional capital. While there can be no assurance the Company will be able to successfully reduce operating expenses or raise additional capital, management believes its historical success in managing cash flows and obtaining capital will continue in the foreseeable future.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 24pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 5, 2023, the Company entered into a Technology License Agreement and an Asset Purchase Agreement (the “LST Agreements”) with Lightning Silicon Technology, Inc. (“LST”). Pursuant to the LST Agreements, the Company issued a license to LST for certain technology associated with our Organic Light Emitting Technology, transferred in-process development contracts with two customers and accounts receivables that the Company had previously determined were not collectible. The technology license agreement provides for Kopin to transfer certain patents to LST if LST achieves certain milestones; however upon transfer, Kopin will receive a license to the technology. To the extent LST makes improvements to the technology licensed from Kopin, Kopin will receive a license for these improvements for certain markets. Kopin is not obligated to provide any additional funding support to LST. As consideration for the transaction, the Company received <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20230104__20230105__us-gaap--TypeOfArrangementAxis__custom--LSTAgreementMember__dei--LegalEntityAxis__custom--LightningSiliconTechnologyIncMember_zPkp59pA9nb9">18,000,000 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">preferred shares in LST, which the Company determined had no fair value as of the transaction date or as of July 1, 2023. While these shares represent a <span id="xdx_903_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_c20230105__us-gaap--TypeOfArrangementAxis__custom--LSTAgreementMember__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--LightningSiliconTechnologyIncMember_z6G50Yy5UeT6">20.0</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">% equity stake in LST, they do not provide the Company with voting rights to elect LST’s Governance Board. The Company will also receive a royalty based on unit sales of products that utilize the technology licensed. Drs. John Fan, the Company’s former President, CEO and Chairman of the Board, Boryeu Tsaur, a former Executive Vice President of the Company and Hong Choi, the Company’s former Chief Technology Officer terminated their employment with the Company and became investors in and members of the management team of LST. Dr. Fan is the Founder of LST. As a result of this transaction, in 2022 the Company wrote off the two operating lease assets associated with facilities used for the development of our organic light emitting diode (OLED) products.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 24pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 24pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On January 27, 2023, the Company sold <span id="xdx_904_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20230126__20230127_zYglhAPEQxT4" title="Number of registered common stock sold">17,000,000</span> shares of common stock and pre-funded warrants to purchase up to <span id="xdx_908_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20230127__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsMember_z2fMmpYZgcGj" title="Pre-funded warrants issued to purchase common stock">6,000,000</span> shares of common stock at a public offering price of $<span id="xdx_903_eus-gaap--SharePrice_iI_pid_c20230127__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsMember_ztc4xjUFshzg" title="Offering price per share">0.99</span> per share for net proceeds of approximately $<span id="xdx_90D_eus-gaap--ProceedsFromIssuanceOfWarrants_pn5n6_c20230126__20230127__us-gaap--ClassOfWarrantOrRightAxis__custom--PrefundedWarrantsMember_zrSJmglFggA2" title="Proceeds from issuance of warrants">21.4</span> million. The Company believes that its existing cash, cash equivalents, will be adequate to satisfy its current operating plans for at least the next twelve months from the issuance of these financial statements. The Company has in the past sold equity securities through at-the-market equity offerings and in the traditional fashion of significant equity offerings. Nonetheless, management monitors the capital markets on an ongoing basis and may consider raising capital if favorable market conditions develop. If the Company’s actual results are less than projected or the Company needs to raise capital for additional liquidity, the Company may be required to do additional equity financings, reduce expenses, or enter into a strategic transaction. However, management can make no assurance that the Company will be able to raise additional capital, reduce expenses sufficiently, or enter into a strategic transaction on terms acceptable to the Company, or at all.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; text-indent: 24pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q1 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
17000000 shares
CY2023Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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15657880 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
4500018 usd
CY2023Q3 us-gaap Debt Securities Available For Sale Accumulated Gross Unrealized Gain Loss Before Tax
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax
-94747 usd
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-111240 usd
CY2023Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
15563133 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
4388778 usd
CY2023Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
8660263 usd
CY2023Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
6902870 usd
CY2023Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
15563133 usd
CY2023Q3 us-gaap Financial Instruments Owned At Fair Value
FinancialInstrumentsOwnedAtFairValue
30295882 usd
CY2022Q4 us-gaap Financial Instruments Owned At Fair Value
FinancialInstrumentsOwnedAtFairValue
20368862 usd
CY2019Q4 us-gaap Asset Impairment Charges
AssetImpairmentCharges
5200000 usd
CY2019Q4 us-gaap Investments
Investments
0 usd
CY2022Q1 us-gaap Gain On Sale Of Investments
GainOnSaleOfInvestments
4700000 usd
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
500000 usd
us-gaap Payments For Royalties
PaymentsForRoyalties
400000 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
3100000 usd
KOPN Unrealized Loss On Equity Interest
UnrealizedLossOnEquityInterest
200000 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
303000 usd
us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
829000 usd
us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
29000 usd
CY2023Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
1103000 usd
CY2023Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
4907401 usd
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
4285757 usd
CY2023Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
2053581 usd
CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
1735454 usd
CY2023Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
917036 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
405189 usd
CY2023Q3 us-gaap Inventory Net
InventoryNet
7878018 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
6426400 usd
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3989161 shares
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1824723 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3989161 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1824723 shares
CY2023Q1 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
17000000 shares
CY2022Q2 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
1.26
CY2022Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
41400000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1965901 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
2.22
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
3136844 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.58
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
691118 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
3.03
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
422466 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
1.58
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
3989161 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
1.65
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1191258 usd
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
417033 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1385449 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1073106 usd
CY2023Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
4000000.0 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y
CY2022Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
1966000 usd
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
448000 usd
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
249000 usd
CY2023Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
2165000 usd
CY2023Q3 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
100000 usd
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
100000 usd
CY2022Q2 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
100000 usd
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
100000 usd
CY2023Q3 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
135500000 usd
CY2023Q3 KOPN Operating Loss Carryforwards Unlimited
OperatingLossCarryforwardsUnlimited
93100000 usd
CY2023Q3 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
4108406 usd
CY2022Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
4068364 usd
us-gaap Contract With Customer Asset Cumulative Catch Up Adjustment To Revenue Modification Of Contract
ContractWithCustomerAssetCumulativeCatchUpAdjustmentToRevenueModificationOfContract
40042 usd
CY2023Q3 KOPN Percentage Of Change In Contract Assets Current
PercentageOfChangeInContractAssetsCurrent
0.01 pure
CY2023Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
554967 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
930500 usd
KOPN Contract With Customer Liability And Billings In Revenue Cumulative Catch Up Adjustment To Revenue Modification Of Contract
ContractWithCustomerLiabilityAndBillingsInRevenueCumulativeCatchUpAdjustmentToRevenueModificationOfContract
375533 usd
CY2023Q3 KOPN Percentage Contract Liabilities And Billings In Excess Of Revenue Earned
PercentageContractLiabilitiesAndBillingsInExcessOfRevenueEarned
-0.40 pure
CY2023Q3 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
6224 usd
CY2022Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
6190 usd
us-gaap Contract With Customer Liability Cumulative Catch Up Adjustment To Revenue Modification Of Contract
ContractWithCustomerLiabilityCumulativeCatchUpAdjustmentToRevenueModificationOfContract
-34 usd
CY2023Q3 KOPN Percentage Of Change In Contract Liabilitiesnoncurrent
PercentageOfChangeInContractLiabilitiesnoncurrent
0.01 pure
CY2023Q3 KOPN Net Contract Assets Liabilities
NetContractAssetsLiabilities
3547215 usd
CY2022Q4 KOPN Net Contract Assets Liabilities
NetContractAssetsLiabilities
3131674 usd
KOPN Contract With Customer Assets Liability Cumulative Catch Up Adjustment To Revenue Modification Of Contract
ContractWithCustomerAssetsLiabilityCumulativeCatchUpAdjustmentToRevenueModificationOfContract
415541 usd
CY2023Q3 KOPN Percentage Of Change In Net Contract Assets Liabilities
PercentageOfChangeInNetContractAssetsLiabilities
0.13 pure
KOPN Contract With Customer Assets Liability Cumulative Catch Up Adjustment To Revenue Modification Of Contract
ContractWithCustomerAssetsLiabilityCumulativeCatchUpAdjustmentToRevenueModificationOfContract
400000 usd
CY2023Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
100000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
600000 usd
CY2022Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
2900000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
200000 usd
CY2023Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
14600000 usd
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
217863 usd
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
250361 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
432426 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
499864 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
483463 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
898459 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
639281 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
604000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
604000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
201333 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
3430536 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
451577 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
2978959 usd
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
796073 usd
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2182886 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
2978959 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
496691 usd
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0600 pure
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y3M10D
CY2023Q2 us-gaap Noncurrent Assets
NoncurrentAssets
4648000 usd
CY2022Q4 us-gaap Noncurrent Assets
NoncurrentAssets
5000000 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
10460000 usd
CY2023Q3 KOPN Percentage Of Total Revenue
PercentageOfTotalRevenue
1 pure
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
11909000 usd
CY2022Q2 KOPN Percentage Of Total Revenue
PercentageOfTotalRevenue
1 pure
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
21218000 usd
KOPN Percentage Of Total Revenue
PercentageOfTotalRevenue
1 pure
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
23487000 usd
KOPN Percentage Of Total Revenue
PercentageOfTotalRevenue
1 pure
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
10460000 usd
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
11909000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
21218000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
23487000 usd
CY2023Q3 us-gaap Revenues
Revenues
798901 usd
CY2023Q3 us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
168800 usd
CY2022Q2 us-gaap Revenues
Revenues
157730 usd
us-gaap Revenues
Revenues
1272401 usd
us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
208055 usd
us-gaap Revenues
Revenues
781947 usd
CY2023Q3 us-gaap Accounts Receivable Net
AccountsReceivableNet
227611 usd
CY2023Q3 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
193800 usd
CY2022Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
325106 usd

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