KOPIN CORP KOPN
used herein, the terms "Company," "we," "us," or "our" refer to Kopin Corporation, a
Delaware corporation.
Corporation, a Delaware corporation, incorporated in 1984, and is headquartered in Westborough, Massachusetts, is a leader of innovative microdisplay technologies and optical systems, catering to defense, enterprise, industrial, consumer, and medical sectors.
displays ("AMLCDs"), liquid crystal on silicon ("LCOS") displays, organic light emitting diode ("OLED")
Last close
4.28
2026-09-04
Market cap
$795.5M
2026-06-27 share count
52-week range
1.81 - 6.61
Valuation FY2025 figures against the last close
P/S20.2x
P/E428.0x
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS0.01
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $39.3M | $50.3M | $40.4M | $47.4M | $45.7M | $40.1M | $29.5M | $24.5M | $2.9M | $1.5M |
| Cost of revenue | — | — | — | — | — | $21.4M | $20.9M | $15.8M | $18.1M | $17.8M |
| Gross profit | — | — | — | — | — | $18.7M | $8.6M | $8.6M | -$15.2M | -$16.3M |
| R&D | $6.7M | $5.8M | $3.6M | $8.4M | $6.3M | $3.9M | $9.1M | $12.6M | $15.5M | $15.3M |
| SG&A | $16.3M | $22.8M | $21.8M | $18.0M | $18.1M | $11.8M | $21.3M | $27.2M | $20.5M | $17.0M |
| Total operating expenses | $49.2M | $93.4M | $57.6M | $69.2M | $59.4M | $44.9M | $55.9M | $64.4M | $58.1M | $43.1M |
| Operating income | -$9.9M | -$43.1M | -$17.2M | -$21.8M | -$13.8M | -$4.8M | -$26.4M | -$40.0M | -$30.3M | -$20.5M |
| Pre-tax income | $2.8M | -$43.7M | -$19.6M | -$19.2M | -$13.3M | -$4.4M | -$29.3M | -$34.5M | -$28.3M | -$19.9M |
| Income tax | $208.0K | $170.0K | $156.0K | $144.0K | $129.0K | $129.0K | $108.0K | $30.0K | $3.0M | $3.1M |
| Net income | $2.5M | -$43.9M | -$19.7M | -$19.3M | -$13.4M | -$4.4M | -$29.5M | -$34.5M | -$25.2M | -$23.6M |
| EPS, basic | 0.01 | -0.33 | -0.18 | -0.21 | -0.15 | -0.05 | — | — | — | -0.37 |
| EPS, diluted | 0.01 | -0.33 | -0.18 | -0.21 | -0.15 | -0.05 | -0.37 | -0.47 | -0.36 | -0.37 |
| Shares, diluted (wtd. avg.) | $175.1M | $132.9M | $109.0M | $91.4M | $88.8M | $82.3M | — | — | — | $64.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $36.4M | $14.2M | $5.7M | $8.3M | $26.8M | $17.1M | $6.0M | $14.3M | $24.8M | $15.8M |
| Short-term investments | — | $21.4M | $11.7M | $4.4M | $2.5M | $3.6M | $15.8M | $22.9M | $43.9M | $61.4M |
| Receivables | $10.7M | $11.9M | $9.7M | $6.5M | $12.1M | $9.3M | $6.0M | $3.1M | $4.0M | $1.7M |
| Inventory | $5.5M | $6.1M | $7.6M | $6.4M | $6.6M | $4.5M | $3.8M | $4.8M | $5.1M | $3.3M |
| Total current assets | $91.8M | $62.8M | $39.8M | $30.9M | $52.2M | $39.5M | $33.8M | $49.4M | $79.7M | $83.4M |
| Property, plant and equipment | $2.6M | $2.1M | $2.2M | $1.8M | $1.9M | $1.6M | $1.5M | $2.6M | $5.1M | $3.0M |
| Goodwill | — | — | — | — | $0 | $0 | $0 | $331.3K | $1.8M | $844.0K |
| Other intangibles | — | — | — | — | — | — | — | $0 | $883.6K | $0 |
| Total assets | $108.4M | $70.8M | $49.3M | $43.8M | $63.0M | $47.5M | $43.0M | $59.5M | $91.3M | $87.8M |
| Accounts payable | $5.3M | $5.9M | $4.9M | $5.4M | $5.5M | $5.6M | $4.0M | $3.9M | $4.9M | $4.4M |
| Total current liabilities | $34.0M | $43.9M | $15.9M | $14.5M | $17.5M | $16.9M | $11.3M | $10.4M | $12.1M | $13.4M |
| Total liabilities | $36.7M | $47.5M | $19.8M | $19.8M | $23.4M | $19.3M | — | — | — | — |
| Retained earnings | -$399.4M | -$402.0M | -$358.2M | -$338.4M | -$319.1M | -$305.6M | -$301.2M | -$271.7M | -$240.3M | -$214.0M |
| Total equity | $64.1M | $23.3M | $29.5M | $24.0M | $39.6M | $28.3M | $28.6M | $47.7M | $77.4M | $74.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$15.5M | -$14.2M | -$15.3M | -$17.7M | -$10.7M | -$4.4M | -$21.0M | -$28.1M | -$25.9M | -$26.2M |
| Depreciation and amortisation | $600.0K | $600.0K | $600.0K | $700.0K | $700.0K | $700.0K | $800.0K | $1.0M | $900.0K | $1.0M |
| Stock-based compensation | $3.0M | $3.3M | $3.9M | $1.3M | $4.4M | $821.1K | $2.1M | $4.8M | $2.3M | $2.4M |
| Capital expenditure | $1.4M | $815.3K | $949.5K | $832.7K | $1.0M | $542.9K | $170.2K | $1.2M | $2.8M | $394.9K |
| Investing cash flow | $18.0M | -$10.3M | -$8.1M | -$3.3M | $53.7K | $11.8M | $4.7M | $18.8M | $11.3M | $22.8M |
| Financing cash flow | $44.0M | $33.5M | $21.3M | $2.7M | $20.4M | $3.7M | $8.0M | -$907.1K | $23.1M | -$510.6K |
| Dividends paid | — | — | — | — | — | — | — | — | $791.7K | $0 |
| Buybacks | — | — | — | $461.7K | $16.9M | $3.8M | — | — | — | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001493152-26-018400.
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