Kopin(US:KOPN)2025-11-12 19:01Financial Performance - Kopin Corporation reported a net income of $4.1 million, or $0.02 per share, for Q3 2025, compared to a net loss of $3.5 million, or ($0.03) per share, in Q3 2024[9]. - Total revenues for Q3 2025 were $12.0 million, a decrease from $13.3 million in Q3 2024, with product revenues declining to $10.7 million from $10.9 million year-over-year[5]. - Total revenues for the nine months ended September 27, 2025, were $31.0 million, down from $35.7 million for the same period in 2024, a decrease of approximately 13.2%[19]. Expenses - The cost of product revenues for Q3 2025 was $8.4 million, representing 79% of net product revenues, an increase from 76% in Q3 2024[6]. - Research and development expenses for Q3 2025 were $2.5 million, slightly down from $2.6 million in Q3 2024, with customer-funded R&D decreasing by $0.5 million[7]. - Selling, general and administrative expenses (SG&A) significantly decreased to $1.6 million in Q3 2025 from $5.2 million in Q3 2024, primarily due to a reduction in accrued legal expenses[8]. - Research and development expenses for the three months ended September 27, 2025, were $161,000, up from $139,000 in the same period last year, an increase of approximately 15.8%[19]. - Selling, general and administrative expenses increased significantly to $781,000 in Q3 2025 from $536,000 in Q3 2024, reflecting a rise of about 45.6%[19]. - Total costs for product revenues were $165,000 for the three months ended September 27, 2025, compared to $368,000 for the same period in 2024, indicating a decrease of approximately 55.2%[19]. - Depreciation and amortization expenses rose to $194,000 in Q3 2025 from $139,000 in Q3 2024, marking an increase of about 39.6%[19]. - The company reported a total of $2,628,000 in expenses for the nine months ended September 27, 2025, slightly up from $2,624,000 in the same period in 2024, reflecting a marginal increase of about 0.2%[19]. Revenue Streams - License and royalties revenue remained stable at $0.1 million for both Q3 2025 and Q3 2024, indicating no growth[19]. - Medical revenues were recorded at $0.6 million for the nine months ended September 27, 2025, compared to $0 for the same period in 2024, showing a positive growth trend[19]. - Defense revenues decreased to $9.9 million in Q3 2025 from $10.4 million in Q3 2024, a decline of about 4.8%[19]. Strategic Initiatives - The company had $26 million in cash as of September 27, 2025, and completed a $41 million private placement with strategic investors post-quarter[4]. - Kopin announced a transformative color MicroLED development order funded by the U.S. Army's Industrial Base Analysis and Sustainment (IBAS) program[4]. - Strategic partnerships with Theon Sensors, Ondas Holdings, and Unusual Machines aim to enhance access to international markets and expand U.S. defense applications[4]. - Theon International Plc's strategic investment positions Kopin as a global player in microdisplays for defense applications, aligning with increased defense budgets in the U.S., EU, and Southeast Asia[3]. - The company anticipates significant growth opportunities in both U.S. and international markets, driven by advancements in technology and strategic collaborations[12].