Kopin Receives $1.3M Follow-On Order for Emerald Microdisplay Module

Rhea-AI Summary

Kopin (NASDAQ: KOPN) has received a $1.3 million follow-on order for its Emerald microdisplay module to support a major weapon sight program. This order is part of an ongoing multi-year production program. The Emerald module is a fully integrated system featuring Kopin's monochrome transmissive AMLCD with SVGA resolution, LED backlight, and integrated drive electronics.

Bill Maffucci, Sr. VP of Business Development and Strategy at Kopin, highlighted that the Emerald microdisplay module delivers critical data to the warfighter's thermal sight with unparalleled clarity and brightness. The module incorporates Kopin's CyberDisplay® architecture, which has been used in over 300,000 weapon sight systems. Maffucci also stated that this follow-on order underscores the quality and reliability of Kopin's products and may lead to significant revenue and profitable growth, particularly in thermal weapon sight production volume for fiscal year 2025.

Positive

• Received $1.3 million follow-on order for Emerald microdisplay module
• Part of an ongoing multi-year production program
• Potential for significant revenue and profitable growth in FY 2025
• Emerald module used in over 300,000 weapon sight systems

Negative

• None.

Insights

Defense Industry Analyst

<p>This <money>$1.3 million</money> follow-on order for Kopin's Emerald microdisplay module is a positive development, albeit modest in scale given the company's <money>$70.9 million</money> market cap. The order supports a major weapon sight program, indicating Kopin's continued relevance in military optics.</p><p>Key points to consider:</p><ul><li>The order is part of a multi-year production program, suggesting stable, recurring revenue.</li><li>Kopin's technology has been used in over 300,000 weapon sight systems, demonstrating proven reliability.</li><li>The company anticipates increased thermal weapon sight production volume in FY2025, potentially leading to revenue growth.</li></ul><p>While this order alone isn't transformative, it reinforces Kopin's position in the defense sector and could serve as a stepping stone for larger contracts. Investors should monitor future orders and the company's ability to scale production to meet projected demand.</p>

Financial Analyst

<p>The <money>$1.3 million</money> follow-on order, while positive, is relatively small compared to Kopin's market capitalization of <money>$70.9 million</money>. However, its significance lies in the potential for future growth and profitability.</p><p>Key financial implications:</p><ul><li>The multi-year nature of the production program suggests a stable revenue stream.</li><li>Management's expectation of increased production volume in FY2025 could lead to improved economies of scale and potentially higher profit margins.</li><li>The repeat order from an existing customer reduces customer acquisition costs and demonstrates product satisfaction.</li></ul><p>Investors should focus on Kopin's ability to leverage this contract into larger orders and expand its market share in the defense sector. While the immediate financial impact is , the long-term growth potential and the company's ability to maintain its competitive edge in microdisplay technology are important factors to monitor.</p>

Additional order will support major weapon sight program

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 received a $1.3 million follow-on order for its Emerald microdisplay module in support of a major weapon sight product. This order includes additional deliveries as part of an ongoing multi-year production program.

“Kopin has built a strong reputation for delivering high-performance microdisplays and optical solutions to the U.S. military,” said Bill Maffucci, Sr. VP of Business Development and Strategy at Kopin. “Our Emerald microdisplay module delivers, with unparalleled clarity and brightness, critical data to the warfighter’s thermal sight, enhancing situational awareness and long range target engagement.”

The Emerald module is a fully integrated system that includes Kopin’s monochrome transmissive active-matrix liquid crystal display (AMLCD) with SVGA (800 x 600) resolution, an efficient LED backlight, and integrated drive electronics. It features Kopin’s CyberDisplay® architecture, which has been a reliable and high-performing core in over 300,000 weapon sight systems.

“The follow-on purchase order of Emerald modules from a repeat customer underscores the long-standing quality and reliability of Kopin’s products,” said Maffucci. “We believe it also lays the foundation for significant revenue and profitable growth—specifically, boosting thermal weapon sight production volume in fiscal year 2025.”

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.

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 our belief that this order lays the foundation for significant revenue and profitable growth—specifically, boosting thermal weapon sight production volume in fiscal year 2025. 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.

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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 is the value of the follow-on order Kopin (KOPN) received for its Emerald microdisplay module?

Kopin (KOPN) received a $1.3 million follow-on order for its Emerald microdisplay module to support a major weapon sight program.

What are the key features of Kopin's (KOPN) Emerald microdisplay module?

Kopin's (KOPN) Emerald microdisplay module includes a monochrome transmissive AMLCD with SVGA (800 x 600) resolution, an efficient LED backlight, and integrated drive electronics. It features Kopin's CyberDisplay® architecture.

How many weapon sight systems have incorporated Kopin's (KOPN) CyberDisplay® architecture?

Kopin's (KOPN) CyberDisplay® architecture has been a reliable and high-performing core in over 300,000 weapon sight systems.

When does Kopin (KOPN) expect to see increased thermal weapon sight production volume?

Kopin (KOPN) anticipates boosting thermal weapon sight production volume in fiscal year 2025, potentially leading to significant revenue and profitable growth.