Kopin (KOPN) AI Stock Analysis

• Market Cap: $445.40M
• Dividend Yield: N/A
• Average Volume (3M): 4.22M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.12
• Revenue Growth: 3.02%
• EPS Growth: 90.87%
• Country: US
• Employees: 181
• Sector: Technology
• Sector Strength: 88
• Industry: Hardware, Equipment & Parts
• EPS (TTM): 0.02
• Shares Outstanding: 182,540,800
• 10 Day Avg. Volume: 3,498,271
• 30 Day Avg. Volume: 4,221,360
• PEG Ratio: -0.05
• Price to Book (P/B): <0.01
• Price to Sales (P/S): 3.59
• P/FCF Ratio: -12.01
• Enterprise Value/Market Cap: 0.81
• Enterprise Value/Revenue: 0.03
• Enterprise Value/Gross Profit: 0.10
• Enterprise Value/Ebitda: 0.08
• 1Y Price Target: $4.44
• Price Target Upside: 81.97% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 44 Neutral
• Price Target: $2.50 ▲(2.46% Upside)

Kopin's overall stock score is primarily impacted by its weak financial performance and valuation, which are significant concerns. Technical analysis also indicates bearish momentum. While the earnings call highlighted some strategic improvements, these are not enough to offset the broader financial and market challenges.

Positive Factors

Strategic Partnerships

These partnerships enhance Kopin's market position in the defense sector, providing a platform for growth and innovation in microdisplays and optical technologies.

Net Income Improvement

The shift to net income indicates improved operational efficiency and financial health, potentially leading to increased investor confidence and funding opportunities.

Strong Financial Backing

The improved cash position provides Kopin with the financial flexibility to invest in growth opportunities and sustain operations, reducing reliance on external financing.

Negative Factors

Decline in Total Revenues

The revenue decline indicates potential challenges in market demand or competitive positioning, which could impact long-term growth and profitability.

High Cost of Product Revenue

Rising product costs can erode profit margins, indicating potential inefficiencies in production or supply chain, which may require strategic adjustments.

Negative Cash Flow

Negative cash flows highlight challenges in generating sufficient cash from operations, potentially limiting the company's ability to invest in growth without external funding.

Kopin Business Overview & Revenue Model

Company Description

Kopin Corporation (KOPN) is a leading provider of innovative microdisplays and advanced technologies for various sectors, including defense, industrial, and consumer electronics. The company specializes in the development of high-performance, low-power display solutions that are utilized in augmented reality (AR) and virtual reality (VR) applications, as well as in wearable devices and head-mounted displays. Kopin's core products include microdisplays, optics, and associated technologies that enhance visual experiences for users across multiple platforms.

How the Company Makes Money

Kopin generates revenue primarily through the sale of its microdisplay products and related technologies to a diverse customer base, including manufacturers in the defense, medical, and consumer electronics sectors. Key revenue streams include direct sales of display modules, licensing agreements for its proprietary technologies, and partnerships with major tech companies that integrate Kopin's displays into their products. The company also benefits from government contracts and collaborations in defense-related projects, which can provide a stable income source. Additionally, Kopin invests in research and development to innovate and expand its product offerings, positioning itself to capitalize on growth opportunities in the AR and VR markets.

Kopin Financial Statement Overview

Summary

Kopin faces significant financial hurdles, particularly in achieving profitability and positive cash flows. The income statement shows negative net income and EBIT, while the cash flow statement indicates negative operating and free cash flows, suggesting reliance on external financing. The balance sheet is moderately stable but could be strained by ongoing liabilities growth.

Income Statement

Kopin shows a concerning financial trajectory with negative net income and EBIT for the latest year, indicating ongoing operational challenges. Revenue growth is inconsistent, and profit margins are negative, highlighting difficulties in achieving profitability. The significant negative EBITDA suggests operational inefficiencies or high costs that are not covered by revenue.

Balance Sheet

The balance sheet reveals a moderate financial structure with a manageable debt-to-equity ratio, indicating reliance on equity over debt financing. A strong cash position relative to debt provides a buffer, but consistent liabilities growth could pose future risks. The company maintains positive stockholders' equity, suggesting a stable capital base, though profitability challenges might strain this stability.

Cash Flow

Kopin's cash flow situation is critical, with negative operating and free cash flows, indicating challenges in generating cash from core activities. The substantial negative free cash flow suggests an inability to cover capital expenditures without financing, posing a risk to financial sustainability. Positive financing cash flow indicates reliance on external funding, which may not be sustainable long-term.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	12.00B	50.34M	40.39M	47.40M	45.67M	40.13M
Gross Profit	3.57B	10.37M	15.44M	4.56M	10.64M	10.98M
EBITDA	4.54B	-17.67M	-16.57M	-21.07M	-13.11M	-4.11M
Net Income	4.07B	-43.88M	-19.75M	-19.33M	-13.43M	-4.41M
Balance Sheet
Total Assets	61.22M	70.77M	49.31M	43.75M	63.01M	47.55M
Cash, Cash Equivalents and Short-Term Investments	26.51M	35.58M	17.40M	12.65M	29.30M	20.75M
Total Debt	2.01M	2.12M	2.48M	3.36M	3.81M	1.80M
Total Liabilities	39.89M	47.48M	19.80M	19.76M	23.38M	19.25M
Stockholders Equity	21.32M	23.28M	29.51M	24.16M	39.80M	28.44M
Cash Flow
Free Cash Flow	-11.10M	-15.04M	-16.21M	-18.52M	-11.78M	-4.96M
Operating Cash Flow	-9.27M	-14.23M	-15.26M	-17.69M	-10.75M	-4.42M
Investing Cash Flow	20.33M	-10.29M	-8.14M	-3.31M	53.67K	11.80M
Financing Cash Flow	921.49K	33.52M	21.34M	2.66M	20.45M	3.69M

Kopin Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 2.44
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KOPN, the sentiment is Neutral. The current price of 2.44 is below the 20-day moving average (MA) of 2.66, below the 50-day MA of 3.00, and above the 200-day MA of 1.93, indicating a neutral trend. The MACD of -0.23 indicates Positive momentum. The RSI at 39.25 is Neutral, neither overbought nor oversold. The STOCH value of 45.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for KOPN.

Kopin Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MPTI	73 Outperform	$151.38M	21.07	22.65%	―	12.79%	23.79%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
MEI	57 Neutral	$266.95M	―	-7.62%	5.28%	-4.91%	61.77%
LPTH	51 Neutral	$333.89M	―	-37.93%	―	36.85%	-77.93%
NEON	49 Neutral	$47.33M	-7.46	38.72%	―	-48.54%	―
KOPN	44 Neutral	$445.40M	―	-27.91%	―	3.02%	90.87%
MVIS	44 Neutral	$319.02M	-2.70	-112.89%	―	-67.66%	13.39%

Kopin Corporate Events

Kopin Corporation Reports Positive Q3 2025 Earnings

Kopin Corporation is a leading developer and provider of high-performance optical solutions, specializing in microdisplays and related components for defense, industrial, and consumer markets. The company is recognized for its innovative display technologies, including MicroLED and OLED displays.

Kopin’s Earnings Call: Strategic Moves Amid Revenue Challenges

Kopin Corporation’s recent earnings call painted a mixed picture of its financial health and strategic direction. The company showcased impressive strategic partnerships and a notable shift from a net loss to net income, alongside a reduction in SG&A expenses. However, these positive developments were overshadowed by declining revenues and increased product costs, leading to an overall mixed sentiment.

Kopin Amends Certificate for Preferred Stock Issuance

On October 15, 2025, Kopin Corporation filed a Certificate of Designation to amend its Certificate of Incorporation, establishing the terms for its Series A Convertible Preferred Stock. This strategic move allows the company to issue 1,500 shares of preferred stock, which will rank senior to common stock in terms of dividends and liquidation rights, potentially strengthening its financial structure and providing new opportunities for investment.

The most recent analyst rating on (KOPN) stock is a Buy with a $3.00 price target. To see the full list of analyst forecasts on Kopin stock, see the KOPN Stock Forecast page.

Kopin Appeals $19.7M Judgment, Secures Loan Agreement

On October 7, 2025, Kopin Corporation filed an appeal against a $19.7 million judgment in the case of Blue Radios Inc. v. Kopin Corporation. To secure the appeal, Kopin entered into loan agreements with its bank, providing a $23 million bond, which includes the judgment, legal expenses, and interest. The bank issued a Letter of Credit to a surety company, which then issued the bond to the court, with provisions allowing the bank to use the deposited funds if necessary.

The most recent analyst rating on (KOPN) stock is a Buy with a $3.00 price target. To see the full list of analyst forecasts on Kopin stock, see the KOPN Stock Forecast page.

Kopin Amends Stock Agreement with Theon International

On September 30, 2025, Kopin Corporation and Theon International PLC amended their Series A Convertible Preferred Stock Purchase Agreement, increasing the Mandatory Conversion Price from $4.50 to $5.50 per share. Additionally, a side letter agreement included provisions for the development and commercialization of a μLED micro-display product for Theon, with Theon agreeing to pre-pay $4.0 million in development costs, which could be converted into a loan if the development plan is deemed unjustifiable.

The most recent analyst rating on (KOPN) stock is a Buy with a $3.00 price target. To see the full list of analyst forecasts on Kopin stock, see the KOPN Stock Forecast page.

Kopin Secures $41M in Private Equity Financing

On September 29, 2025, Kopin Corporation announced a securities purchase agreement for a private investment in public equity financing, expected to generate approximately $41 million in gross proceeds. The funds will be used to advance the development of color MicroLED technology, Neuraldisplay™ Artificial Intelligence, and other optical solutions, as well as for general corporate purposes. The investment highlights Kopin’s growth potential and strategic value, with key investors like Theon International, Ondas Holdings, and Unusual Machines underscoring confidence in Kopin’s technology and market opportunities. The transaction is set to close on September 30, 2025, subject to customary conditions.

The most recent analyst rating on (KOPN) stock is a Buy with a $3.00 price target. To see the full list of analyst forecasts on Kopin stock, see the KOPN Stock Forecast page.

Kopin Appoints New CFO with Stock Incentives

On September 2, 2025, Erich Manz joined Kopin Corporation as the new Chief Financial Officer. In connection with his appointment, the company granted him 400,000 restricted shares of Kopin common stock as a material inducement to employment. The restricted stock award, approved by the Compensation Committee of Kopin’s Board of Directors on July 30, 2025, will vest 25% annually starting December 10, 2026, contingent upon Mr. Manz’s continued employment. This move aligns with Nasdaq Listing Rule 5635(c)(4) and reflects Kopin’s strategic efforts to strengthen its leadership team.

The most recent analyst rating on (KOPN) stock is a Hold with a $2.50 price target. To see the full list of analyst forecasts on Kopin stock, see the KOPN Stock Forecast page.

Kopin’s Earnings Call: Strategic Moves Amid Challenges

Kopin’s recent earnings call painted a mixed picture, with a strategic partnership and technological advancements suggesting potential future growth, yet current financial challenges were evident due to a significant revenue decline and high costs leading to a net loss.