Kopin (KOPN)
NASDAQ:KOPN
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Kopin
(NASDAQ:KOPN)
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Rating:52Neutral
Price Target:
$3.00
▲(56.25% Upside)
Action:ReiteratedDate:01/09/26
The score is held back mainly by continued losses and ongoing cash burn, despite a low-leverage balance sheet and improving margins. Technicals are supportive with the stock trading above key moving averages, while valuation remains constrained by negative earnings. The latest earnings call showed progress and strategic momentum, but revenue softness and cost pressure, plus mixed corporate developments, temper the upside.
Positive Factors
Defense partnerships and $1B+ opportunity pipeline
Strategic alliances with defense-focused partners and a disclosed opportunity pipeline north of $1B signal durable demand and validated market fit in military/industrial programs. Long-term contracts and integration work with defense customers support predictable revenue scaling and ecosystem entrenchment.
Negative Factors
Negative operating and free cash flow
Sustained negative operating and free cash flow forces reliance on external financing to fund operations and capex. Even with improvement versus prior year, ongoing cash burn can dilute shareholders, constrain strategic investments, and elevate execution risk if capital markets tighten or dilution-averse financing is unavailable.
Read all positive and negative factors
Positive Factors
Negative Factors
Defense partnerships and $1B+ opportunity pipeline
Strategic alliances with defense-focused partners and a disclosed opportunity pipeline north of $1B signal durable demand and validated market fit in military/industrial programs. Long-term contracts and integration work with defense customers support predictable revenue scaling and ecosystem entrenchment.
Read all positive factors
Kopin (KOPN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$331.31M
Dividend YieldN/A
Average Volume (3M)1.96M
Price to Earnings (P/E)23.3
Beta (1Y)2.26
Revenue Growth3.02%
EPS Growth90.87%
CountryUS
Employees181
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)N/A
Shares Outstanding182,540,800
10 Day Avg. Volume2,145,576
30 Day Avg. Volume1,964,402
Financial Highlights & Ratios
PEG Ratio-0.05
Price to Book (P/B)7.76
Price to Sales (P/S)3.59
P/FCF Ratio-12.01
Enterprise Value/Market Cap0.89
Enterprise Value/Revenue6.48
Enterprise Value/Gross Profit24.87
Enterprise Value/Ebitda-57.50
Forecast
1Y Price Target
$5.50Price Target Upside186.46% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.04
Revenue Forecast (FY)$58.09M
Kopin Business Overview & Revenue Model
Company Description
Kopin Corporation, together with its subsidiaries, invents, develops, manufactures, and sells microdisplays, subassemblies, head-mounted and hand-held systems, and related components for defense, enterprise, industrial, and consumer products in th...
How the Company Makes Money
Kopin generates revenue through multiple streams, primarily by selling its microdisplay technologies and related components to a variety of industries, including defense contractors, industrial equipment manufacturers, and consumer electronics com...
Kopin Earnings Call Summary
Earnings Call Date:Nov 12, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:May 05, 2026
Earnings Call Sentiment Neutral
The earnings call highlighted Kopin's strategic partnerships and strong financial improvements, including a shift from loss to net income and reduced SG&A expenses. However, these positive aspects were tempered by revenue declines and increased product costs, creating a mixed overall outlook.Positive Updates
Strategic Partnerships
Kopin Corporation entered into strategic partnerships with Ondas Holdings, Unusual Machines, and Theon International, indicating a strong collaborative approach to future growth.
Negative Updates
Decline in Total Revenues
Total revenues for Q3 2025 were $12 million, down from $13.3 million in the same period of the previous year, driven by reduced revenues from pilot helmets and training simulation products.
Read all updates
Q3-2025 Updates
Positive
Negative
Strategic Partnerships
Kopin Corporation entered into strategic partnerships with Ondas Holdings, Unusual Machines, and Theon International, indicating a strong collaborative approach to future growth.
Read all positive updates
Company Guidance
During Kopin Corporation's Third Quarter 2025 Earnings Call, significant guidance was provided with a focus on strategic partnerships and financial metrics. Kopin announced new partnerships with global organizations such as Ondas Holdings, Unusual Machines, and Theon International, enhancing its position in the defense sector. The company highlighted a strong opportunity pipeline exceeding $1 billion, with expectations for significant growth in the first-person drone market, projected to reach $1.2 billion by 2030, representing a compound annual growth rate of 31%. Financially, Kopin reported Q3 revenues of $12 million, a decrease from the previous year, with net income at $4.1 million or $0.02 per share, a turnaround from a net loss of $3.5 million in Q3 2024. The company also emphasized a solid balance sheet with $26.5 million in cash and highlighted recent capital raises totaling $56 million, positioning it well for future growth. Kopin's strategic focus on the U.S. Department of Defense and NATO, alongside innovations in microdisplays and optical technologies, underpins its growth strategy, with expectations to achieve revenue and profitability goals by 2027 and 2028.Kopin Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
63
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 45.60M | 50.34M | 40.39M | 47.40M | 45.67M | 40.13M |
| Gross Profit | 11.88M | 10.37M | 15.44M | 4.56M | 10.64M | 10.98M |
| EBITDA | -5.14M | -17.67M | -16.57M | -21.07M | -13.11M | -4.11M |
| Net Income | -6.15M | -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
Negative
1.92
Price Trends
2.37
Negative
2.48
Negative
2.40
Negative
Market Momentum
-0.10
Positive
37.32
Neutral
25.21
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KOPN, the sentiment is Negative. The current price of 1.92 is below the 20-day moving average (MA) of 2.14, below the 50-day MA of 2.37, and below the 200-day MA of 2.40, indicating a bearish trend. The MACD of -0.10 indicates Positive momentum. The RSI at 37.32 is Neutral, neither overbought nor oversold. The STOCH value of 25.21 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for KOPN.
Kopin Risk Analysis
Kopin disclosed 42 risk factors in its most recent earnings report. Kopin reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Kopin Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $576.90M | 22.22 | 10.90% | 1.07% | 22.35% | 2.59% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
58 Neutral | $453.42M | 29.91 | 2.14% | 0.79% | 7.39% | 99.34% | |
55 Neutral | $552.51M | 96.46 | 2.37% | ― | -7.46% | -39.98% | |
53 Neutral | $547.65M | -13.49 | -70.17% | ― | 36.85% | -77.93% | |
52 Neutral | $331.31M | 23.27 | -30.23% | ― | 3.02% | 90.87% | |
45 Neutral | $177.82M | -1.68 | -137.37% | ― | -67.66% | 13.39% |
* Technology Sector Average
KOPN
Kopin
1.82
0.87
91.05%
LPTH
Lightpath Technologies
9.49
7.47
369.80%
LYTS
Lsi Industries
18.53
1.52
8.92%
MLAB
Mesa Laboratories
82.07
-36.60
-30.84%
MVIS
Microvision
0.58
-0.63
-52.07%
VPG
Vishay Precision Group
41.55
17.47
72.55%
Kopin Corporate Events
Business Operations and StrategyExecutive/Board Changes
Kopin Grants Significant Equity Awards to Top Executives
Positive
Jan 9, 2026
On January 5, 2026, Kopin Corporation approved substantial equity awards for Chief Executive Officer and Chairman Michael Murray, granting him 583,658 shares of restricted stock and options to purchase 724,638 shares at a 25% premium to the market...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.