Kopin Corp.
Built from real-time financials, refreshed daily. For a full Analyst Grade with bull/bear case, price targets, and qualitative risk analysis, generate a KOPN research report →
Range $6.5 – $10
Price Chart
About the company
Kopin Corporation, together with its subsidiaries, develops, manufactures, and sells microdisplays, subassemblies, and related components for defense, enterprise, industrial, and consumer products in the United States, the Asia-Pacific, Europe, and internationally. It offers miniature active-matrix liquid crystal displays, ferroelectric liquid crystal on silicon displays, organic light emitting diode displays, MicroLED display technologies, application specific optical solutions, backlights, and optical lenses. The company’s products are used for soldier thermal weapon rifle sights, avionic fixed and rotary wing pilot helmets, armored vehicle targeting systems, and training and simulation headsets; industrial and medical headsets; 3D optical inspection systems; and consumer augmented reality and virtual reality wearable headsets systems.
- CEO
- Michael Murray
- IPO
- 1992
- Employees
- 145
- HQ
- Westborough, MA, US
Get TickerSpark's AI analysis on KOPN
Create an account to generate AI analysis on any ticker — technical setup, analyst consensus, earnings watch, insider pulse, financial health, and peer context. Ready in about a minute.
Get Pro Access →Already have an account? Log in
Similar companies
Peers in the same neighborhood.
- Market Cap
- $906.12M
- P/E
- 110.63
- Fwd P/E
- 489.00
- PEG
- 0.07
- P/S
- 20.77
- P/B
- 13.30
- EV/EBITDA
- 128.77
- Div Yield
- 0.00%
- Gross Margin
- 41.93%
- Op Margin
- -34.56%
- Net Margin
- 18.13%
- ROE
- 13.72%
- ROIC
- -21.37%
Latest fiscal year · YoY change
- Revenue
- $38.47M-23.6%
- Gross Profit
- $10.63M+2.6%
- Op Income
- $-14,954,135
- Net Income
- $2.61M+105.9%
- EPS
- $0.01+104.5%
- OCF Growth
- -9.2%
- FCF Growth
- -12.9%
- 52W High
- $6.61
- 52W Low
- $1.72
- 50D MA
- $4.24
- 200D MA
- $3.35
- Beta
- 3.55
- RSI (14)
- 56
- Avg Volume
- 5.86M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Kopin said Q2 showed execution across defense and AI platforms, with revenue up 51% year over year, losses narrowing, and management pointing to GAAP profitability and positive free cash flow in Q4.· August 10, 2026
- Q2 revenue was $12.7 million, up 51% from $8.5 million, driven by government microLED grant revenue, Fabric.AI collaboration revenue, and higher R&D revenue on Phase 2 OptiVISOR.
- Net income attributable to common stockholders was $0.9 million, or $0.00 per share, versus a $5.2 million loss, or $(0.03) per share, last year.
- Management said second-half 2026 should exceed prior guidance and expects GAAP profitability plus positive free cash flow in Q4.
- IBAS microLED progress remains on schedule for mid-2027 manufacturing, with more milestones expected in Q4 and possible follow-on funding.
- Sentinel FPV is gaining prototype orders tied to the Drone Dominance Program, while Neural I/o and the Dallas design center expand Kopin’s AI infrastructure push.
Total revenue was $12.7 million for Q2 2026, up 51% year over year from $8.5 million. Product revenue was $7.6 million versus $7.5 million a year ago, while nonproduct revenue rose to $5.1 million from $1.0 million. Cost of product revenues was $6.6 million, or 86% of net product revenues, versus $7.1 million, or 94%, in the prior-year quarter. R&D expense was $4.5 million versus $1.9 million, SG&A was $5.1 million versus $4.9 million, and loss from operations narrowed to $3.5 million from $5.5 million. Net income attributable to common stockholders was $0.9 million, or $0.00 per share, compared with a net loss of $5.2 million, or $(0.03) per share, in Q2 2025. As of June 2026, cash and cash equivalents were $24.3 million, and total cash, restricted cash, and marketable securities were $50.3 million, including $26 million of restricted cash. For outlook, management said it expects the second half to exceed prior guidance, expects GAAP profitability and positive free cash flow in Q4, and is increasingly optimistic about 2027 revenue trends continuing from 2026.
Michael Murray focused on execution across four growth areas: color microLED for the U.S. Army, Sentinel FPV for drone programs, Neural I/o for AI infrastructure, and domestic OLED capacity. He emphasized that Kopin is building these capabilities in the U.S. and framed that as a competitive advantage, especially for defense and trusted-supply-chain customers. His tone was strongly optimistic, with repeated comments that the company is on schedule, seeing strong demand signals, and moving toward longer-duration revenue opportunities.
Erich Manz highlighted that Q2 revenue growth came from grant revenue, Fabric.AI collaboration revenue, the strategic AR thermal clip-on partnership, and higher R&D revenue on OptiVISOR. He noted product cost improved to 86% of net product revenue from 94% a year ago, R&D rose to $4.5 million, SG&A was relatively stable at $5.1 million, and operating loss narrowed to $3.5 million. He also said cash and cash equivalents were $24.3 million and total cash, restricted cash, and marketable securities were $50.3 million, and reiterated expectations for a solid second half, GAAP profitability, and positive free cash flow in Q4.
Analysts pressed for more detail on Neural I/o, with management saying the CES 2027 demo will show real-time bit transmission and receive capability in a full transceiver tile, and that customer reaction to the first optical data pull has been very positive. Questions also focused on IBAS follow-on catalysts, where management said three more milestones are expected this year and that further IBAS funding for other devices is under active discussion. On Sentinel FPV, management said the main investment is the OLED deposition tool, under a $10 million number, and said it expects a strong order book by the end of Q4; on the revenue timing questions, management said Sentinel could mean tens of millions of dollars in 2027, while Neural I/o likely generates development revenue in 2027 but not production revenue until 2028.
The call presented multiple visible demand signals: over $45 million of orders in 2026 to date, multiple Sentinel prototype orders, more than 200 white paper downloads for Neural I/o, and strong Army feedback on microLED progress. Management also pointed to operational leverage, a stable expense base, and potential margin expansion from in-house OLED deposition, which they said could add at least 15 points of gross margin next year.
A lot of the larger opportunities are still early-stage and timing-sensitive: Sentinel volume depends on Drone Dominance awards, Neural I/o production revenue is likely not until 2028, and microLED main production is still slated for 2028 even if samples arrive sooner. The company also still has legacy litigation, with no expected further update on the federal appeal until around mid-2027, and some backlog/reconciling questions remained unresolved on the call.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 84.0%
- Shares Outstanding
- 185.30M
- Float Shares
- 155.58M
of shares held by institutions
165 13F filers
Buy/sell ratio 0.67. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| State Street Corp | 17.13M | ▲ 5.78M |
| Blackrock, Inc. | 14.78M | ▲ 2.69M |
| Vanguard Group Inc | 10.83M | ▲ 1.46M |
| Awm Investment Company, Inc. | 8.02M | ▼ 3.79M |
| Vanguard Capital Management LLC | 7.73M | ▲ 48.60K |
| Telemark Asset Management, LLC | 7.00M | 0 |
| Royce & Associates LP | 5.95M | ▼ 1.27M |
| Geode Capital Management, LLC | 4.61M | ▲ 272.10K |
| Two Sigma Investments, LP | 2.30M | ▲ 2.25M |
| Ubs Group AG | 1.65M | ▲ 30.15K |
| Morgan Stanley | 1.52M | ▲ 1.36M |
| Squarepoint Ops LLC | 1.49M | ▲ 1.17M |
Held by 125 ETFs
Biggest fund positions in KOPN by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Jun 10, 26 | Walsh Paul V Jr | other | 64,500 |
| Jun 10, 26 | NIEUWSMA DAVID J | other | 64,500 |
| Jun 10, 26 | Avery Jill Janice | other | 64,500 |
| Jun 10, 26 | SEIF MARGARET K | other | 64,500 |
| May 6, 26 | Baker Paul Christopher | sell | 58,939 |
| May 5, 26 | Baker Paul Christopher | sell | 1,041 |
| Apr 28, 26 | Baker Paul Christopher | sell | 116,860 |
| Apr 17, 26 | Murray Michael Andrew | sell | 96,800 |
| Apr 15, 26 | Murray Michael Andrew | sell | 63,200 |
| Apr 13, 26 | Murray Michael Andrew | sell | 187,920 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our KOPN coverage
Recent articles, reports, and earnings notes.
No research on KOPN yet
For a full analyst-grade research report — grades, price targets, financials, chart analysis — generate one on demand.
Generate KOPN report →Fabric.AI and Kopin Launch Joint Steering Committee Led by Kopin CEO Michael Murray as Neural I/o™ Industry Engagement Expands
globenewswire.com · Aug 18
Kopin Bets on MicroLEDs for Defense Drones and AI Data Centers
marketbeat.com · Aug 14
Fabric.AI and Kopin Expand Neural I/o™ Program with Several New Non-Disclosure Agreements Across the AI Interconnect Ecosystem
globenewswire.com · Aug 12
Kopin (KOPN) Reports Break-Even Earnings for Q2
zacks.com · Aug 11
Kopin Soars Tuesday Following MicroLED Development Award
247wallst.com · Aug 11
Fabric.AI and Kopin Confirm Plans to Give First Public Demonstration of Neural I/o™ MicroLED Optical Interconnect at CES 2027
globenewswire.com · Aug 11
Kopin Corporation (KOPN) Q2 2026 Earnings Call Transcript
seekingalpha.com · Aug 10
Kopin Q2 Earnings Call Highlights
marketbeat.com · Aug 10
Headlines from third-party outlets — TickerSpark isn't affiliated with these sources.