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KOPN · NASDAQ · Semiconductors

Kopin

Builds rugged microdisplay modules and optical systems for defense, industrial, and medical use.

$4.44

After-hours close−0.05 (−1.09%)

At close$4.49(−6.94%)

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Profile

Kopin CorporationKOPNInformation Technology

Sells microdisplays, optical modules, spatial light modulators, and development work, with defense programs as the main commercial center. Operations are concentrated in the United States, while manufacturing and technology work also use Taiwan foundries, Scotland facilities, and third-party OLED partners.

Sells microdisplays, optical modules, spatial light modulators, and application-specific optical systems for defense, industrial, medical, consumer AR/VR, and emerging AI optical-interconnect uses.

The current portfolio spans AMLCD, LCOS, OLED, FLCoS, and MicroLED displays, plus optics, electronics, housings, drivers, ASICs, lenses, and backlights. Most revenue is generated in the United States, with defense applications remaining the commercial center.

Execution depends on customer-funded development, long defense qualification cycles, and specialized manufacturing partners, including Taiwan foundry work and third-party OLED deposition. Current structural dependencies include U.S. Government and prime-contractor program funding, concentrated defense customers, the Theon collaboration around military products, and the unresolved BlueRadios appeal.

Company facts

CEOMichael Murray

ListedApr 15, 1992

ExchangeNASDAQ

HeadquartersWestborough, MA

CountryUnited States

Employees145

CIK0000771266

ISINUS5006001011

Key statistics

Market cap$830.1M

EPS (ttm)$0.0441

P/E (ttm)101.59

ROE13.7%

P/B12.18

P/S19.03

Dividend yield—

Beta4.45vs XLK 0.92

Year to date +80.1% · Average volume (30d) 4.2M

Analysts

Price target, next 12 months$7.00+56.2%Median of 7 analysts · vs the Aug 28 close

ConsensusBuy5 of 7 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $4.48

High$10.00+123.2%

Median$7.00+56.2%

Low$6.50+45.1%

12 months agoNowIn 12 months

Latest analyst notes

Date	Firm	Action	Rating	Prior target	Target
Aug 14, 2026	Canaccord Genuity	Reiterate	Buy	$6.25	$6.50
May 14, 2026	Canaccord Genuity	Reiterate	Buy	$3	$6.25
May 13, 2026	Lake Street	Reiterate	Buy	$5	$7
May 12, 2026	Craig-Hallum	Target		$6	$10
Apr 29, 2026	Lake Street	Target			$5

Earnings

EPS

Estimate−$0.01

ReportedDue Nov 11, 2026

Revenue

Estimate$15.8M

ReportedDue Nov 11, 2026

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Aug 10, 2026Q2 FY26	−$0.01	$0.00	+135.2%	$11.7M	$12.7M	+8.1%	+23.52%
May 12, 2026Q1 FY26	−$0.01	−$0.02	−100.0%	$10.0M	$10.6M	+6.4%	−6.17%
Apr 13, 2026Q1 FY26	−$0.02	$0.04	+301.7%	$10.9M	$8.4M	−23.6%	−2.86%
Nov 12, 2025Q3 FY25	−$0.01	$0.02	+300.0%	$13.1M	$12.0M	−8.5%	−7.89%

View details

Financial highlights

	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Revenue	$10.5M	$8.5M	$12.0M	$8.4M	$10.6M	$12.7M
Gross profit	$2.9M	$1.4M	$3.6M	$3.6M	$4.9M	$6.1M
Operating income	−$3.9M	−$5.5M	−$566.9K	−$5.0M	−$6.0M	−$3.5M
Net income	−$3.1M	−$5.2M	$4.1M	$6.7M	−$3.8M	$830.9K
Diluted EPS	−$0.02	−$0.03	$0.02	$0.04	−$0.02	$0.00
Gross margin	27.6%	16.4%	29.8%	43.4%	46.8%	48.3%
Operating margin	-37.1%	-64.6%	-4.7%	-60.0%	-56.7%	-27.5%

Fiscal years (4-quarter sums)FY21 $45.7M · FY22 $47.4M · FY23 $40.4M · FY24 $50.3M · FY25 $39.3M

Revenue by product · Q2 FY26

Defense$7.3M · 69%

Grant$2.6M · 25%

Medical$309.3K · 3%

Collaboration$271.5K · 3%

License And Royalties$56.0K · 1%

Industrial$20.4K · 0%

Revenue by geography · Q2 FY26

Americas$12.3M · 49%

United States$12.3M · 49%

Europe$351.6K · 1%

Asia Pacific$56.0K · 0%

Balance sheet, Jun 27, 2026Cash & short-term investments $24.9M · Total debt $1.2M · Total assets $106.3M · Shareholders' equity $69.2M

Dividends

No dividends on record.

Ownership

Institutions 56.05%103.86M sharesInsiders 2.52%4.67M sharesOther 41.43%76.77M shares

Shares outstanding 185.30M · Float 155.58M · 84.0% free float

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
State Street Corporation	17.13M	9.40%	13G	Aug 7, 2026
BlackRock, Inc.	14.78M	7.98%	13F	Aug 7, 2026
Theon International Plc.	10.03M	5.43%	13G	Nov 6, 2025
Awm Investment Company, Inc.	8.02M	4.33%	13F	Aug 14, 2026
Vanguard Capital Management LLC	7.73M	4.17%	13F	Aug 13, 2026

Insider tradesForm 4

Date	Insider	Role	Shares	Avg price
May 6, 2026	Paul Christopher Baker	officer: Chief Operating Officer	−58,939	$4.90
May 5, 2026	Paul Christopher Baker	officer: Chief Operating Officer	−1,041	$4.90
Apr 28, 2026	Paul Christopher Baker	officer: Chief Operating Officer	−116,860	$3.95
Apr 17, 2026	Michael Andrew Murray	director, officer: CEO	−96,800	$3.01
Apr 15, 2026	Michael Andrew Murray	director, officer: CEO	−63,200	$3.01