\nKopin Corporation (Nasdaq: KOPN), a leading provider of application-specific optical solutions for defense, enterprise, industrial, and consumer products, today reported financial results for the fourth quarter and full fiscal year ended December 28, 2024.\n<\/p>\n
Company Highlights<\/b><\/p>\n \n\u201cWe experienced significant growth in 2024 which we believe affirms our strategic transformation and focus on defense industries and technologies,\u201d said Michael Murray, Kopin’s Chief Executive Officer. \u201cDemand for microdisplays, optics and application-specific optical solutions continues to increase is the defense, medical and industrial markets.\n<\/p>\n \n“We start 2025 with a strong order book and a pipeline of revenue opportunities that should benefit the company over several years. Despite macroeconomic and geopolitical uncertainties, our recently announced orders provide us with confidence to deliver revenue between $52 to $55 million in 2025. To support this increased demand and our profitability goals, we have embarked on an aggressive and ambitious, companywide automation plan to increase capacity, throughput, and efficiencies in our Westborough facility to allow for higher throughput, greater accuracy and less human interaction which can cause molecular debris in our assemblies. We believe this increased automation will also increase our gross margins as we become more efficient while reducing quality defects throughout our process.\u201d\n<\/p>\n \nMr. Murray concluded: \u201cOur ONE Kopin initiative has continued to improve manufacturing efficiencies, reduce redundancies and integrate markets to better serve European and Southeast Asian defense markets. As geo-political risks continue to remain elevated, we believe we are well positioned to offer application-specific solutions for a variety of defense needs.\u201d\n<\/p>\n Fourth Quarter Financial Results<\/strong><\/p>\n \nTotal revenues for the fourth quarter ended December 28, 2024, were $14.6 million, compared to $8.6 million for the fourth quarter ended December 30, 2023. Product revenues for the fourth quarter ended December 28, 2024, were $12.6 million, compared to $6.8 million for the fourth quarter ended December 30, 2023. The increase in product revenues was a result of an increase in sales of product for thermal weapon sights partially offset by a decline in sales of products for pilot helmets. In the fourth quarter of 2023, we shut down manufacturing for a limited period of time which negatively impact sales in the year over year comparison.\n<\/p>\n \nCost of Product Revenues for the fourth quarter of 2024 was $10.6 million, or 84% of net product revenues, compared with $7.2 million, or 106% of net product revenues, for the fourth quarter of 2023.\n<\/p>\n \nR&D expenses for the fourth quarter of 2024 were $3.1 million compared to $2.2 million for the fourth quarter of 2023. The increase in R&D expense is attributable to an increase in funded research and development expense and internal research and development expenses. Internal research and development expense increased due to transitioning to European organic light emitting diode foundry services.\n<\/p>\n \nSG&A expenses were $3.1 million for the fourth quarter of 2024, compared to $5.9 million for the fourth quarter of 2023. The decrease was primarily due to a decrease in legal expenses related to litigation.\n<\/p>\n \nNet Loss Attributable to Kopin for the fourth quarter of 2024 was ($1.9) million, or ($0.01) per share, compared with Net Loss Attributable to Kopin of ($6.5) million, or ($0.06) per share, for the fourth quarter of 2023.\n<\/p>\n Full Year 2024 Financial Results<\/b><\/p>\n \nTotal revenues for the year ended December 28, 2024, were $50.3 million, compared to $40.4 million for the year ended December 30, 2023. Product revenues for the year ended December 28, 2024, were $43.6 million, compared to $25.9 million for the year ended December 30, 2023. The increase in Product Revenues was primarily due to an increase in shipments of our products for thermal weapon sight applications that was partially offset by a decrease in sales of our products for defense pilot helmets. R&D revenues decreased in 2024 as compared to 2023 primarily due to decreased funding for display technology, armored vehicle targeting systems and other weapon system development for U.S. defense programs, and medical headset development.\n<\/p>\n \nCost of Product Revenues for 2024 was $36.2 million, or 83% of net product revenues, compared with $25.0 million, or 96% of net product revenues in the prior year. Cost of product revenues decreased as a percentage of revenues in 2024 as compared to 2023 primarily due to increased unit volume of thermal weapon sights from higher sales in 2024 as compared to 2023 which resulted in a lower fixed overhead cost per unit. The margin improvement from thermal weapon sights was partially offset by lower margin contribution from industrial and training and simulation revenues due to their decline in sales.\n<\/p>\n \nR&D expenses for 2024 were $9.6 million compared to $10.8 million for 2023, a 11% decrease year over year. The decrease in R&D expense as compared to the prior year was primarily due to the completion of contracts for defense programs awarded prior to 2024. Internal R&D expense for 2024 increased as compared to the prior year primarily due to increases in display development costs and costs incurred to establish European foundry services.\n<\/p>\n \nSelling, General and Administration (SG&A) expenses were $22.8 million for 2024, compared to $21.8 million for 2023. SG&A for 2024 increased as compared to 2023 primarily due to an increase of approximately $1.4 million in legal and professional fees and $0.2 million in excise taxes, partially offset by $0.4 million lower bad debt expense and $0.2 million decrease in non-cash stock-based compensation.\n<\/p>\n \nNet Loss Attributable to Kopin Corporation for the year 2024 was $43.9 million, or $0.33 per share, compared with Net Loss Attributable to Kopin Corporation of $19.7 million, or $0.18 per share, for the year 2023.\n<\/p>\n \nNet Cash Used in Operating Activities for 2024 was approximately $14.2 million. Kopin\u2019s cash and equivalents and marketable securities were approximately $36.6 million at December 28, 2024 as compared to $17.9 million at December 30, 2023.\n<\/p>\n \nReaders should refer to the Form 10-K for the fiscal year ended December 28, 2024, for important risk factors.\n<\/p>\n Earnings Call and Webcast<\/b><\/p>\n \nKopin management will host the conference call, followed by a question and answer session.\n<\/p>\n \nDate: Thursday, April 17, 2025 \nThe Company will also provide a link at https:\/\/www.kopin.com\/investors\/<\/a> for those who wish to stream the call via webcast. Please call the conference telephone number 5-10 minutes prior to the start time.\n<\/p>\n \nA telephonic replay of the conference call will also be available through May 1, 2025.\n<\/p>\n \nToll-free replay number: 844-512-2921 About Kopin<\/b><\/p>\n \nKopin Corporation is a leading developer and provider of innovative display and optical technologies sold as critical components and subassemblies for defense, industrial and consumer products. Kopin\u2019s technology portfolio includes ultra-small Active-Matrix Liquid Crystal displays (AMLCD), Liquid Crystal on Silicon (LCOS) displays and Organic Light Emitting Diode (OLED) displays, a variety of optics, and low-power ASICs. For more information, please visit Kopin\u2019s website at www.kopin.com<\/a>. Kopin is a trademark of Kopin Corporation.\n<\/p>\n Forward-Looking Statements<\/b><\/p>\n \nStatements in this press release may be considered \u201cforward-looking statements\u201d within the meaning of Section 27A of the Securities Act of 1933, as amended (the \u201cSecurities Act\u201d), and Section 21E of the Securities Exchange Act of 1934, as amended (the \u201cExchange Act\u201d), which are subject to the safe harbor created by such sections. Words such as \u201cexpects,\u201d \u201cbelieves,\u201d \u201ccan,\u201d \u201cwill,\u201d \u201cestimates,\u201d and variations of such words and similar expressions, and the negatives thereof, are intended to identify such forward-looking statements. We caution readers not to place undue reliance on any such \u201cforward-looking statements,\u201d which speak only as of the date made, and advise readers that these forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties, estimates, and assumptions by us that are difficult to predict. These forward-looking statements may include statements with respect to our projected increase in demand for our thermal weapons displays; and our belief that there are opportunities for additional follow-on orders and several new customer development orders which we expect to receive soon. Various factors, some of which are beyond our control, could cause actual results to differ materially from those expressed in, or implied by, such forward-looking statements, including without limitation our ability to produce thermal weapons displays in adequate quantities to meet projected demand, the outcome of any litigation and other factors beyond our control. All such forward-looking statements, whether written or oral, and whether made by us or on our behalf, are expressly qualified by these cautionary statements and any other cautionary statements that may accompany the forward-looking statements. In addition, we disclaim any obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release, except as may otherwise be required by the federal securities laws. These forward-looking statements are only predictions, subject to risks and uncertainties, and actual results could differ materially from those discussed. Important factors that could affect performance and cause results to differ materially from management\u2019s expectations are described in Part I, Item 1A. Risk Factors; Part II, Item 7. Management\u2019s Discussion and Analysis of Financial Condition and Results of Operations; and other parts of our Annual Report on Form 10-K for the fiscal year ended December 28, 2024, or as updated from time to time our Securities and Exchange Commission filings.\n<\/p>\n December 28, 2024<\/b><\/p>\n<\/td>\n December 30, 2023<\/b><\/p>\n<\/td>\n<\/tr>\n \n$\n<\/p>\n<\/td>\n \n36,629,778\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n17,902,685\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n11,850,654\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n9,706,036\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n7,074,021\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n3,409,809\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n6,134,096\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n7,601,806\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,057,341\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,210,207\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n62,745,890\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n39,830,543\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,099,708\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,163,417\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,134,898\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,504,909\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n123,822\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n124,925\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n3,564,938\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n4,688,522\n<\/p>\n<\/td>\n<\/tr>\n \n$\n<\/p>\n<\/td>\n \n70,669,256\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n49,312,316\n<\/p>\n<\/td>\n<\/tr>\n \n$\n<\/p>\n<\/td>\n \n5,953,672\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n4,947,338\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n5,758,128\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n5,564,187\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n71,099\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n916,826\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n639,642\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n651,503\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n40,000\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n790,000\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n408,156\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n414,118\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n470,884\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n6,367,900\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,129,421\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n24,800,000\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n44,044,559\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n15,878,315\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,110,281\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,092,124\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,479,976\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,832,982\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n23,034,437\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n29,508,895\n<\/p>\n<\/td>\n<\/tr>\n \n$\n<\/p>\n<\/td>\n \n70,669,253\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n49,312,316\n<\/p>\n<\/td>\n<\/tr>\n Three Months Ended<\/b><\/p>\n<\/td>\n Twelve Months Ended<\/b><\/p>\n<\/td>\n<\/tr>\n December 28, 2024<\/b><\/p>\n<\/td>\n December 30, 2023<\/b><\/p>\n<\/td>\n December 28, 2024<\/b><\/p>\n<\/td>\n December 30, 2023<\/b><\/p>\n<\/td>\n<\/tr>\n \n$\n<\/p>\n<\/td>\n \n12,574,857\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n6,764,868\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n43,576,724\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n25,937,170\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,657,996\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,717,804\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n5,996,362\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n13,454,866\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n413,642\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n94,961\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n762,082\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,002,141\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n14,646,495\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n8,577,633\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n50,335,168\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n40,394,177\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n10,696,659\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n7,193,314\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n36,240,464\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n24,952,431\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n3,170,400\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,242,682\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n9,707,466\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n10,777,093\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n3,138,803\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n5,929,309\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n22,845,415\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n21,842,157\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n24,800,000\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n17,005,862\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n15,365,305\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n93,593,346\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n57,571,681\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n(2,359,366\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(6,787,672\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(43,258,178\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(17,177,504\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n307,673\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n337,700\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(599,070\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(2,414,715\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n(2,051,693\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(6,449,972\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(43,857,248\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(19,592,219\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n(45,000\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(39,000\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(170,000\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(156,000\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n(2,096,693\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(6,488,972\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(44,027,248\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(19,748,219\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n$\n<\/p>\n<\/td>\n \n(0.01\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n(0.06\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n(0.33\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n(0.18\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n165,669,859\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n110,360,814\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n132,875,913\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n108,436,146\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u00a0\n<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20250417863463\/en\/<\/a><\/span><\/p>\n Contact Information MZ Contact KEYWORDS:<\/b> United States North America Massachusetts<\/p>\n INDUSTRY KEYWORDS:<\/b> Software Defense Other Defense Other Manufacturing Hardware Technology Semiconductor Manufacturing<\/p>\n\n
\n
Time: 8:30 AM Eastern Time (5:30 AM Pacific Time)
\n
U.S. dial-in number: 800-245-3047
\n
International number: 203-518-9765
\n
Conference ID: KOPIN
\n
Webcast: 4Q24 Webcast Link<\/a><\/p>\n
\n
International replay number: 412-317-6671
\n
Replay passcode: 11158949\n<\/p>\n\n
\n Kopin Corporation<\/b><\/td>\n<\/tr>\n \n Condensed Consolidated Balance Sheets<\/b><\/td>\n<\/tr>\n \n (Unaudited)<\/b><\/td>\n<\/tr>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \u00a0<\/td>\n \n \n \n \n ASSETS<\/td>\n \u00a0<\/td>\n \n \n <\/tr>\n \n Current assets:<\/td>\n \u00a0<\/td>\n \n \n <\/tr>\n \n Cash, restricted cash and marketable securities<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n Accounts receivable, net<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n Contract assets and unbilled receivables<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n Inventory<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n Prepaid and other current assets<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n<\/tr>\n \n Total current assets<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n<\/tr>\n \n Plant and equipment, net<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n Operating lease right-of-use assets<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n Other assets<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n Equity investments<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n<\/tr>\n \n Total assets<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n<\/tr>\n \n LIABILITIES AND STOCKHOLDERS’ EQUITY<\/td>\n \u00a0<\/td>\n \n \n <\/tr>\n \n Current liabilities:<\/td>\n \u00a0<\/td>\n \n \n <\/tr>\n \n Accounts payable<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n Accrued expenses<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n Contract liabilities and billings in excess of revenue earned<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n Operating lease liabilities<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n Accrued post-retirement benefits<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n Customer deposits<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n Deferred tax liabilities<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n Accrued legal expenses<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n Accrued litigation damages<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n<\/tr>\n \n Total current liabilities<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n<\/tr>\n \n Other long term liabilities<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n Operating lease liabilities, net of current portion<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n<\/tr>\n \n Total stockholders’ equity<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n Total liabilities and stockholders’ equity<\/td>\n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
\n Kopin Corporation<\/b><\/td>\n<\/tr>\n \n Condensed Consolidated Statements of Operations<\/b><\/td>\n<\/tr>\n \n (Unaudited)<\/b><\/td>\n<\/tr>\n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n \n \u00a0<\/td>\n \n \n \n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n Revenues:<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n <\/tr>\n \n Net product revenues<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n Research and development revenues<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n Other revenues<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n Expenses:<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n <\/tr>\n \n Cost of product revenues<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n Research and development<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n Selling, general and administration<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n Litigation damages<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n Loss from operations<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n Other (expense) income, net<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n Loss before provision for income taxes<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n Tax provision<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n Net loss<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n Net loss per share:<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n <\/tr>\n \n Basic and diluted<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \u00a0<\/td>\n<\/tr>\n \n Weighted average number of common shares outstanding:<\/td>\n \u00a0<\/td>\n \n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n <\/tr>\n \n Basic and diluted<\/td>\n \u00a0<\/td>\n \n \n \n \u00a0<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n \n \n \n <\/p>\n
\n<\/b>
Kopin Corporation
\n
Richard Sneider
\n
Treasurer and Chief Financial Officer
\n
rsneider@kopin.com<\/a><\/p>\n
\n<\/b>
Brian M. Prenoveau, CFA
\n
MZ Group \u2013 MZ North America
\n
KOPN@mzgroup.us
\n<\/a>
+561 489 5315\n<\/p>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20250417863463\/en\/2441840\/3\/KOPN_Logo.jpg\"){kind=logo}
<\/td>\n<\/tr>\n