A life sciences company that generates revenue from product sales, R&D collaborations and licenses, incurs significant R&D and operating expenses, and has notable non-operating gains (including a deconsolidation gain) and litigation-related items.

# Company

### Purpose and scope
- Identifies forward-looking statements under the Securities Act (Section 27A) and the Exchange Act (Section 21E).
- Indicates these statements are subject to a safe harbor.

### Indicator language
- Forward-looking statements are signaled by words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “could,” “would,” “seeks,” “estimates,” and variations or negatives of these terms.

### Cautionary statements
- These statements are not guarantees of future performance and involve risks, uncertainties, estimates, and assumptions.
- Actual results could differ materially from what is expressed or implied.

### Timing and obligation to update
- Statements speak as of the date made.
- The company disclaims any obligation to update forward-looking statements after the date of the report, except as required by federal securities laws.

### Risks and factors
- Identifies “the following important factors” that could cause actual results to differ from forward-looking statements.
- These factors may be in addition to risks described in Part I, Item 1A “Risk Factors.”

### Additional caution
- All forward-looking statements are expressly qualified by cautionary statements and any other accompanying cautionary statements.
- The text may reference other cautionary statements that accompany forward-looking statements.

Kopin Corporation is a technology company specializing in high-performance optical solutions and microdisplays for defense, industrial, medical, and consumer applications.

# Kopin Corporation Overview

Kopin Corporation is a prominent technology company focused on developing and providing high-performance optical solutions and microdisplays. Established in 1984 and headquartered in Westborough, Massachusetts, Kopin specializes in creating miniature display technologies for use in various sectors, including defense, industrial, medical, and consumer applications.

## Products and Technologies

Kopin's product offerings include:

- **Microdisplays:**
  - **Active-Matrix Liquid Crystal Displays (AMLCDs)**
  - **Liquid Crystal on Silicon (LCOS) Displays**
  - **Organic Light Emitting Diode (OLED) Displays**
  - **Emerging MicroLED Displays**

- **Application Specific Optical Solutions (ASOS):**
  - Integration of displays, optics, and electronics into subassemblies or headsets.
  - Critical applications including soldier thermal weapon sights, pilot helmets, medical headsets, and devices for augmented reality (AR) and virtual reality (VR).

- **Proprietary Technologies:**
  - Over 200 patents and patent applications cover various aspects of microdisplays, optics, and related systems.
  - Development of a fifth-generation microdisplay architecture called NeuralDisplay™, which incorporates bidirectional sensing and artificial intelligence capabilities.

## Market Presence

- **Global Reach:** Kopin has a significant operational footprint across North America, Europe, and Asia-Pacific regions, serving numerous high-profile clients in the defense and industrial sectors.
- **Customer Base:** The company has relationships with several key customers, including:
  - U.S. Department of Defense
  - Major defense contractors like DRS Network & Imaging Systems and Collins Aerospace.
- **Revenue Streams:** 
  - Total revenue for the fiscal year ending December 28, 2024, was **$50.34 million**, with a significant portion (approximately **82%**) coming from defense-related applications.
  - Research and Development (R&D) revenue is another critical component, which has seen variations year-over-year, based on government contracts and funding levels.

## Financial Performance

- **Employees:** As of the fiscal year ending December 28, 2024, Kopin Corporation employed **181 full-time employees**.
- **Income:** Kopin reported a **net loss** of approximately **$43.88 million** for the fiscal year 2024, a significant increase from a net loss of **$19.75 million** in 2023. The company has an accumulated deficit of **$402 million** as of that date.
- **Cash Flow:** The company experienced **negative cash flow** from operating activities, amounting to **$14.22 million** in 2024 and **$15.26 million** in 2023, highlighting ongoing challenges in achieving profitability.

## Strategic Initiatives

- **ONE Kopin Initiative:** The company is undergoing a strategic rebranding and operational overhaul designed to unify its various business segments, enhance customer acquisition, and improve coordination among its diversified teams.
- **Innovation Focus:** A significant portion of Kopin’s resources is devoted to R&D to enhance existing products and develop new ones, especially in next-generation display technologies for AR and VR applications.

## Conclusion

Kopin Corporation stands as a leading player in the display technology sector, particularly within defense and industrial markets. While it faces challenges related to profitability and cash flow, its continued focus on innovation, strategic partnerships, and a robust patent portfolio positions it well for future growth in emerging technologies.

KOPIN CORP

10-K / April 13, 2026

10-K / April 17, 2025

10-K / April 13, 2026

Company

Purpose and scope

Indicator language

Cautionary statements

Timing and obligation to update

Risks and factors

Additional caution