Kopin Awarded Contract to Develop Daytime Readable See-Through HUD (Heads Up Display) Module for Warfighters

Rhea-AI Summary

Kopin (NASDAQ: KOPN) has secured a contract to develop a next-generation, daytime-readable, augmented reality HUD (Head-Up Display) technology for warfighters. The new HUD aims to offer enhanced resolution, better daytime readability, and a greater see-through field of view while requiring less power. Key features include:

• Higher-resolution OLED microdisplay
• Larger see-through daytime readable field of view
• Superior power efficiency compared to waveguides
• Better visual acuity
• Lighter weight and lower profile
• A path to full-color daytime readability

The contract will allow Kopin to enhance its existing HUD capabilities, with the goal of releasing a deployable product for warfighters.

Positive

• Secured contract for next-generation HUD development
• Potential for improved product offerings in defense sector
• Advancement in key display technologies (resolution, readability, field of view)
• Superior power efficiency compared to waveguides

Negative

• None.

Insights

Military Technology Expert

This contract award for Kopin to develop an advanced HUD module for warfighters is a significant step forward in military display technology. The focus on daytime readability, enhanced resolution and wider field of view addresses critical needs in combat situations. The emphasis on power efficiency and lighter weight is particularly noteworthy, as these factors are important for prolonged field operations.

The potential impact of this technology extends beyond immediate military applications. Successful development could lead to crossover applications in civilian sectors such as aviation, automotive and industrial uses. However, it's important to note that the contract is for development, not production, indicating a longer timeline before potential revenue generation.

While this contract demonstrates Kopin's technological prowess and market position in specialized display solutions, investors should be cautious about immediate financial impact. The long development cycles and uncertain outcomes typical in military contracts suggest a measured approach to evaluating this news's impact on Kopin's near-term financial performance.

Financial Analyst

This contract award, while positive, should be viewed cautiously in terms of immediate financial impact for Kopin. The company's market cap of $81.9 million suggests it's a small-cap stock where such developments can have outsized effects on investor sentiment.

Key financial considerations include:

• The contract value and duration are not disclosed, making it difficult to quantify the immediate revenue impact.
• R&D expenses may increase in the short term to fulfill the contract requirements.
• Successful development could lead to larger production contracts in the future, but this is speculative.
• Kopin's expertise in this niche market could attract strategic partnerships or acquisition interest from larger defense contractors.

Investors should monitor for future announcements regarding contract progression, potential production orders and any impact on Kopin's quarterly financial results. While promising for long-term growth prospects, this development alone is unlikely to significantly alter Kopin's near-term financial position.

Next-generation, daytime-readable, augmented HUD addresses power efficiency, extended fields of view and improved resolution

WESTBOROUGH, Mass.--(BUSINESS WIRE)-- Kopin Corporation (NASDAQ: KOPN), a leading provider of application-specific optical systems and high-performance microdisplays for defense, enterprise, industrial, consumer and medical products, announced today that it has secured a contract to further develop its daytime-readable, augmented reality HUD (Head-Up Display) technology in support of warfighters.

The goal of this next-generation HUD is to offer enhanced resolution, better daytime readability and a greater see-through field of view—and require less power.

“Warfighters want to keep their eyes on the horizon to detect and address threats, instead of looking down at a device,” said Bill Maffucci, Sr. VP Business Development and Strategy. “Our technology provides a wide range of augmented geospatial information in a heads-up format, reducing the loss of situational awareness. In addition, the new HUD module aims to meet the growing demand for an advanced display solution that is easily readable in daytime lighting.”

Kopin has been developing daytime-readable, see-through HUDs and demonstrating early prototypes. The new contract award is for the development of a next-generation HUD with advanced specifications for a specific targeted application. Key features and capabilities include:

• Higher-resolution OLED microdisplay
• Larger see-though daytime readable field of view
• Superior power efficiency (compared to waveguides)
• Better visual acuity
• Lighter weight and lower profile
• A path to full-color daytime readability

“We have established ourselves as a leading optical display solution provider, which has resulted in the award of this contract after a rigorous selection process,” said Maffucci. “This development funding will give us the opportunity to enhance our existing HUD capabilities with the end goal being the release of a deployable product that will enable the Warfighter to safely and efficiently carry out operations.”

For more information, contact Kopin Sales: sales@kopin.com.

About Kopin

Kopin Corporation is a leading developer and provider of innovative display, and application-specific optical solutions sold as critical components and subassemblies for defense, enterprise, professional and consumer products. Kopin’s portfolio includes microdisplays, display modules, eyepiece assemblies, image projection modules, and vehicle mounted and head-mounted display systems that incorporate ultra-small high-resolution Active Matrix Liquid Crystal displays (AMLCD), Ferroelectric Liquid Crystal on Silicon (FLCoS) displays, MicroLED displays (µLED) and Organic Light Emitting Diode (OLED) displays, a variety of optics, and low-power ASICs. For more information, please visit Kopin’s website at www.kopin.com. Kopin is a trademark of Kopin Corporation.

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Forward Looking Statements

Statements in this press release may be considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which are subject to the safe harbor created by such sections. Words such as “expects,” “believes,” “can,” “will,” “estimates,” and variations of such words and similar expressions, and the negatives thereof, are intended to identify such forward-looking statements. We caution readers not to place undue reliance on any such “forward-looking statements,” which speak only as of the date made, and advise readers that these forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties, estimates, and assumptions by us that are difficult to predict. These forward-looking statements may include statements with respect to this development funding giving us the opportunity to enhance our existing HUD capabilities with the end goal being the release of a deployable product. Various factors, some of which are beyond our control, could cause actual results to differ materially from those expressed in, or implied by, such forward-looking statements. All such forward-looking statements, whether written or oral, and whether made by us or on our behalf, are expressly qualified by these cautionary statements and any other cautionary statements that may accompany the forward-looking statements. In addition, we disclaim any obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release, except as may otherwise be required by the federal securities laws. These forward-looking statements are only predictions, subject to risks and uncertainties, and actual results could differ materially from those discussed. Important factors that could affect performance and cause results to differ materially from management’s expectations are described in Part I, Item 1A. Risk Factors; Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations; and other parts of our Annual Report on Form 10-K for the fiscal year ended December 30, 2023, or as updated from time to time by our Securities and Exchange Commission filings.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241001814513/en/

For Investor Relations

Kopin Corporation

Richard Sneider, Treasurer and Chief Financial Officer

Richard_Sneider@kopin.com

508-870-5959

MZ Contact

Brian M. Prenoveau, CFA

MZ Group – MZ North America

KOPN@mzgroup.us

561-489-5315

Lightspeed PR Contact

Grace Halvorsen

Lightspeed PR/M

Kopin@lightspeedpr.com

Source: Kopin Corporation

FAQ

What contract did Kopin (KOPN) recently secure?

Kopin (KOPN) recently secured a contract to develop a next-generation, daytime-readable, augmented reality HUD (Head-Up Display) technology for warfighters.

What are the key features of Kopin's (KOPN) new HUD technology?

Key features of Kopin's new HUD technology include higher-resolution OLED microdisplay, larger see-through daytime readable field of view, superior power efficiency, better visual acuity, lighter weight, lower profile, and a path to full-color daytime readability.

How does Kopin's (KOPN) HUD technology benefit warfighters?

Kopin's HUD technology benefits warfighters by providing a wide range of augmented geospatial information in a heads-up format, reducing the loss of situational awareness and allowing them to keep their eyes on the horizon to detect and address threats.

What is the main advantage of Kopin's (KOPN) HUD over waveguides?

The main advantage of Kopin's HUD over waveguides is superior power efficiency, as stated in the press release.