Business
Kopin Corporation Reports Fourth Quarter 2025 Financial Results
Balance Sheet Strengthened with $56 Million Capital Raise; Strategic Partnerships Advancing Key Defense Projects; Government Shutdown Delayed Revenue
About this update from Kopin Corporation
[{"type":"text","content":"\nBalance Sheet Strengthened with $56 Million Capital Raise; Strategic Partnerships Advancing Key Defense Projects; Government Shutdown Delayed Revenue Recognition on Select Orders Industrywide\n\n\n WESTBOROUGH, Mass.--(BUSINESS WIRE)--\nKopin Corporation (Nasdaq: KOPN) (“Kopin” or the “Company”), a leading provider of application-specific optical systems and high-performance microdisplays for defense, training, enterprise, industrial, consumer and medical products, today announced preliminary unaudited financial results for its fourth quarter ended December 27, 2025.\n\n\nFourth Quarter Financial Summary:\n\n\n\n\n$ in millions\n\n\n\n\n\n\nQ4 2025\n\n\n\n\n\n\nQ4 2024\n\n\n\n\n\n\n% Change\n\n\n\n\n\n\n\n\nTotal Revenues\n\n\n\n\n\n\n$8.4\n\n\n\n\n\n\n$14.6\n\n\n\n\n\n\n(42%)\n\n\n\n\n\n\n\n\nProduct Revenues\n\n\n\n\n\n\n$5.6\n\n\n\n\n\n\n$12.6\n\n\n\n\n\n\n(56%)\n\n\n\n\n\n\n\n\nNon-Product Revenues *\n\n\n\n\n\n\n$2.5\n\n\n\n\n\n\n$1.7\n\n\n\n\n\n\n47%\n\n\n\n\n\n\n\n\nCost of Product Revenues\n\n\n\n\n\n\n$4.7\n\n\n\n\n\n\n$10.6\n\n\n\n\n\n\n(56%)\n\n\n\n\n\n\n\n\nR&D Expenses\n\n\n\n\n\n\n$3.5\n\n\n\n\n\n\n$3.1\n\n\n\n\n\n\n13%\n\n\n\n\n\n\n\n\nSG&A Expenses\n\n\n\n\n\n\n$4.5\n\n\n\n\n\n\n$3.1\n\n\n\n\n\n\n45%\n\n\n\n\n\n\n\n*Non-Product revenue consists of Funded R&D, Collaborative agreement, and Grant revenue streams\n\n\nFourth Quarter 2025 & Subsequent Operational Highlights\n\n\n\nCompleted $56 million private placement from strategic and institutional investors, fortifying the Company’s balance sheet to support near-term growth.\n\n\n\nContinued to advance strategic partnership with Theon International, with sales commencing and aggressive 3-year strategic plan for revenue and technology sharing underway across Europe, Southeast Asia, and NATO markets.\n\n\n\nContinued progress on Color MicroLED development for Soldier Borne Mission Systems with several prime contractor selections and critical technology acquisition wins expected.\n\n\n\nMaintained strong pipeline with congressional budget demands through 2030 and indefinite demand, indefinite quantity (IDIQ) contracts providing upside revenue flexibility.\n\n\n\nInvestments in internal research and development delivered new technologies released to production driving new customer demand and adoption. Several new products, in new markets, are expected to be announc...