Kopin Financials
This page shows Kopin (KOPN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Kopin has an operating margin of -85.6%, meaning the company retains $-86 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -42.5% the prior year.
Kopin's revenue surged 24.6% year-over-year to $50.3M, reflecting rapid business expansion. This strong growth earns a score of 99/100.
Kopin has a moderate D/E ratio of 2.04. This balance of debt and equity financing earns a leverage score of 36/100.
Kopin's current ratio of 1.43 indicates adequate short-term liquidity, earning a score of 37/100. The company can meet its near-term obligations, though with limited headroom.
While Kopin generated -$14.2M in operating cash flow, capex of $815K consumed most of it, leaving -$15.0M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Kopin passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, Kopin generates $0.32 in operating cash flow (-$14.2M OCF vs -$43.9M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Kopin generated $50.3M in revenue in fiscal year 2024. This represents an increase of 24.6% from the prior year.
Kopin's EBITDA was -$42.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 156.3% from the prior year.
Kopin generated -$15.0M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 7.4% from the prior year.
Kopin reported -$43.9M in net income in fiscal year 2024. This represents a decrease of 122.3% from the prior year.
Kopin earned $-0.33 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 83.3% from the prior year.
Kopin held $14.2M in cash against $0 in long-term debt as of fiscal year 2024.
Kopin had 156M shares outstanding in fiscal year 2024. This represents an increase of 39.1% from the prior year.
Kopin's operating margin was -85.6% in fiscal year 2024, reflecting core business profitability. This is down 43.1 percentage points from the prior year.
Kopin's net profit margin was -87.2% in fiscal year 2024, showing the share of revenue converted to profit. This is down 38.3 percentage points from the prior year.
Kopin invested $5.8M in research and development in fiscal year 2024. This represents an increase of 62.0% from the prior year.
Kopin invested $815K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 14.1% from the prior year.
KOPN Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $12.0M+41.5% | $8.5M-19.8% | $10.5M+22.9% | $8.6M-19.1% | $10.6M+1.3% | $10.5M-2.8% | $10.8M-11.7% | $12.2M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | $2.5M+28.7% | $1.9M-8.1% | $2.1M+142.9% | -$4.9M-259.7% | $3.1M-1.4% | $3.1M+35.5% | $2.3M+141.2% | -$5.6M |
| SG&A Expenses | $1.6M-66.7% | $4.9M+4.2% | $4.7M-20.7% | $5.9M+23.6% | $4.8M-25.8% | $6.5M+39.1% | $4.6M-4.2% | $4.9M |
| Operating Income | $4.5M+183.0% | -$5.5M-39.8% | -$3.9M+42.4% | -$6.8M-148.8% | -$2.7M+43.6% | -$4.8M-71.1% | -$2.8M+54.6% | -$6.2M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $52K0.0% | $52K0.0% | $52K+33.3% | $39K0.0% | $39K0.0% | $39K0.0% | $39K+8.3% | $36K |
| Net Income | $4.1M+179.0% | -$5.2M-65.9% | -$3.1M+52.0% | -$6.5M-164.8% | -$2.5M+70.0% | -$8.2M-211.2% | -$2.6M+57.3% | -$6.2M |
| EPS (Diluted) | $0.02+166.7% | $-0.03-50.0% | $-0.02+66.7% | $-0.06-200.0% | $-0.02+71.4% | $-0.07-133.3% | $-0.03 | N/A |
KOPN Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $61.2M+0.1% | $61.2M-5.9% | $65.0M+31.9% | $49.3M-9.7% | $54.6M-1.4% | $55.4M-7.0% | $59.5M+36.0% | $43.8M |
| Current Assets | $53.2M+1.0% | $52.6M-7.8% | $57.1M+43.4% | $39.8M-12.2% | $45.4M-1.2% | $45.9M-1.9% | $46.8M+51.6% | $30.9M |
| Cash & Equivalents | $26.5M+8.8% | $24.4M+58.9% | $15.3M+168.5% | $5.7M-40.5% | $9.6M-5.0% | $10.1M+17.8% | $8.6M+3.9% | $8.3M |
| Inventory | $6.3M-5.9% | $6.7M+10.3% | $6.1M-20.3% | $7.6M-16.2% | $9.1M+15.2% | $7.9M+15.6% | $6.8M+6.1% | $6.4M |
| Accounts Receivable | $6.4M-32.9% | $9.5M+31.9% | $7.2M-25.9% | $9.7M+36.4% | $7.1M+15.3% | $6.2M+9.9% | $5.6M-14.1% | $6.5M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $39.9M-11.6% | $45.1M+1.8% | $44.4M+124.0% | $19.8M-2.1% | $20.2M+4.1% | $19.4M+16.9% | $16.6M-15.9% | $19.8M |
| Current Liabilities | $36.3M-12.4% | $41.4M+1.2% | $40.9M+157.9% | $15.9M-1.1% | $16.1M+7.7% | $14.9M+26.9% | $11.8M-18.7% | $14.5M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $21.3M+32.9% | $16.0M-22.4% | $20.7M-29.9% | $29.5M-14.1% | $34.4M-4.3% | $35.9M-16.3% | $42.9M+77.5% | $24.2M |
| Retained Earnings | -$406.2M+1.0% | -$410.3M-1.3% | -$405.1M-13.1% | -$358.2M-1.8% | -$351.7M-0.7% | -$349.2M-2.4% | -$341.0M-0.8% | -$338.4M |
KOPN Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$110K+97.3% | -$4.2M-21.8% | -$3.4M+1.6% | -$3.5M+8.7% | -$3.8M+0.5% | -$3.8M+8.6% | -$4.2M-100.3% | -$2.1M |
| Capital Expenditures | $494K-32.6% | $733K+46.5% | $500K+6.2% | $471K+269.1% | $128K-4.7% | $134K-38.1% | $217K+13.7% | $191K |
| Free Cash Flow | -$2.1M+58.0% | -$4.9M-25.0% | -$3.9M+0.6% | -$3.9M-0.3% | -$3.9M+0.6% | -$4.0M+10.0% | -$4.4M-93.0% | -$2.3M |
| Investing Cash Flow | $2.3M-82.6% | $13.3M+189.6% | $4.6M+1183.9% | -$423K-111.2% | $3.8M-28.8% | $5.3M+131.7% | -$16.8M-2187.9% | $807K |
| Financing Cash Flow | -$65K | $0-100.0% | $7.2M | $0 | $0 | $0-100.0% | $21.3M+20788.1% | -$103K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
KOPN Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 37.9%+102.5pp | -64.6%-27.5pp | -37.1%+42.0pp | -79.1%-53.4pp | -25.7%+20.5pp | -46.2%-20.0pp | -26.3%+24.8pp | -51.1% |
| Net Margin | 34.1%+95.2pp | -61.1%-31.6pp | -29.5%+46.1pp | -75.6%-52.5pp | -23.1%+55.1pp | -78.2%-53.8pp | -24.4%+26.1pp | -50.5% |
| Return on Equity | 19.1% | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | 6.7%+15.1pp | -8.4%-3.7pp | -4.8%+8.4pp | -13.2%-8.7pp | -4.5%+10.3pp | -14.8%-10.4pp | -4.4%+9.6pp | -14.1% |
| Current Ratio | 1.47+0.2 | 1.27-0.1 | 1.40-1.1 | 2.51-0.3 | 2.82-0.3 | 3.08-0.9 | 3.98+1.8 | 2.13 |
| Debt-to-Equity | 1.87-0.9 | 2.81+0.7 | 2.14+1.5 | 0.67+0.1 | 0.59+0.0 | 0.54+0.2 | 0.39-0.4 | 0.82 |
| FCF Margin | -14.0%+43.8pp | -57.9%-20.7pp | -37.1%+8.8pp | -45.9%-8.9pp | -37.0%+0.7pp | -37.8%+3.0pp | -40.8%-22.1pp | -18.7% |
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Frequently Asked Questions
What is Kopin's annual revenue?
Kopin (KOPN) reported $50.3M in total revenue for fiscal year 2024. This represents a 24.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Kopin's revenue growing?
Kopin (KOPN) revenue grew by 24.6% year-over-year, from $40.4M to $50.3M in fiscal year 2024.
Is Kopin profitable?
No, Kopin (KOPN) reported a net income of -$43.9M in fiscal year 2024, with a net profit margin of -87.2%.
What is Kopin's earnings per share (EPS)?
Kopin (KOPN) reported diluted earnings per share of $-0.33 for fiscal year 2024. This represents a -83.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Kopin's EBITDA?
Kopin (KOPN) had EBITDA of -$42.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Kopin's operating margin?
Kopin (KOPN) had an operating margin of -85.6% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Kopin's net profit margin?
Kopin (KOPN) had a net profit margin of -87.2% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Kopin's free cash flow?
Kopin (KOPN) generated -$15.0M in free cash flow during fiscal year 2024. This represents a 7.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Kopin's operating cash flow?
Kopin (KOPN) generated -$14.2M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Kopin's total assets?
Kopin (KOPN) had $70.8M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Kopin's capital expenditures?
Kopin (KOPN) invested $815K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Kopin spend on research and development?
Kopin (KOPN) invested $5.8M in research and development during fiscal year 2024.
How many shares does Kopin have outstanding?
Kopin (KOPN) had 156M shares outstanding as of fiscal year 2024.
What is Kopin's current ratio?
Kopin (KOPN) had a current ratio of 1.43 as of fiscal year 2024, which is considered adequate.
What is Kopin's debt-to-equity ratio?
Kopin (KOPN) had a debt-to-equity ratio of 2.04 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Kopin's return on assets (ROA)?
Kopin (KOPN) had a return on assets of -62.0% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Kopin's cash runway?
Based on fiscal year 2024 data, Kopin (KOPN) had $14.2M in cash against an annual operating cash burn of $14.2M. This gives an estimated cash runway of approximately 12 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Kopin's Piotroski F-Score?
Kopin (KOPN) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Kopin's earnings high quality?
Kopin (KOPN) has an earnings quality ratio of 0.32x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Kopin?
Kopin (KOPN) scores 34 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.