Kopin Receives $1.5M Follow-On Contract for Near Eye Thermal Imaging Solution for Firefighters

Rhea-AI Summary

Kopin (NASDAQ: KOPN) has secured a $1.5 million follow-on contract to supply a near eye, thermal imaging vision system for firefighter masks. The system includes a miniaturized AMLCD and optics integrated into the mask's facepiece, connected to a small thermal camera mounted on the side. This hands-free solution allows firefighters to view clear, real-time thermal imagery in their line of sight, unaffected by smoke or other environmental conditions.

The system aims to enhance firefighters' effectiveness during search and rescue missions by freeing up both hands and providing greater situational awareness. Deliveries for this contract are planned throughout the 2025 calendar year.

Positive

• Secured $1.5 million follow-on contract for thermal imaging vision system
• Innovative product enhancing firefighter effectiveness and safety
• Continued partnership with repeat customer indicates product reliability
• Planned deliveries throughout 2025 suggest stable revenue stream

Negative

• None.

Tech Expert

Kopin's $1.5 million follow-on contract for their near-eye thermal imaging solution marks a significant advancement in firefighting technology. This hands-free system integrates seamlessly into firefighter masks, offering a crucial advantage over traditional handheld thermal cameras.

The system's core components - a miniaturized AMLCD and specialized optics - demonstrate Kopin's expertise in creating compact, high-performance displays for challenging environments. The ability to provide clear, real-time thermal imagery directly in the firefighter's line of sight, unaffected by smoke or other environmental factors, is a game-changer for search and rescue operations.

From a technological standpoint, this contract underscores Kopin's position as a leader in specialized optical solutions. The ruggedized, adjustable nature of the system speaks to its durability and versatility - critical factors in the demanding firefighting environment. This follow-on contract suggests that initial deployments have been successful, validating the technology's real-world effectiveness.

Looking ahead, this contract could pave the way for broader adoption of Kopin's technology in other high-risk professions where situational awareness is paramount. The potential for expanding into adjacent markets, such as law enforcement or industrial safety, could represent significant growth opportunities for Kopin.

Financial Analyst

The $1.5 million follow-on contract is a positive development for Kopin (NASDAQ: KOPN), albeit modest in scale. This contract signals customer satisfaction and potential for future orders, which is important for a company specializing in niche, high-tech solutions.

Financially, while the contract value may not significantly impact Kopin's overall revenue immediately, it's important to consider the strategic implications. The firefighting sector represents a stable, government-backed market with potential for long-term, recurring revenue. As cities and fire departments upgrade their equipment, Kopin could see increased demand and larger contracts in the future.

Investors should note that the deliveries are planned throughout the 2025 calendar year, indicating a long-term revenue stream rather than an immediate boost to the bottom line. This extended timeline also suggests confidence in Kopin's ability to deliver, potentially reducing execution risk.

From a market perspective, Kopin's success in this niche could attract attention from larger players in the defense and safety sectors, potentially making the company an attractive acquisition target. However, it's important to balance this potential with the company's overall financial health, market position and growth in other segments before making investment decisions.

WESTBOROUGH, Mass.--(BUSINESS WIRE)-- Kopin Corporation (NASDAQ: KOPN), a leading provider of application-specific optical solutions and high-performance microdisplays for defense, enterprise, consumer, and medical products, today announced it has been awarded a follow-on contract to supply a near eye, thermal imaging vision system, designed to fit inside of a firefighter mask.

The cutting-edge firefighting mask dramatically enhances the firefighter’s effectiveness in operating in smoke-filled buildings and saving potential victims. The mask includes a Kopin thermal imaging vision system composed of a miniaturized AMLCD (active-matrix liquid crystal display) and optics, integrated into the mask’s facepiece. A firefighter looks at Kopin’s display inside the mask, which is connected to a small thermal camera mounted to the side of the mask, enabling the firefighter to operate the display system hands-free and view clear, real-time video of thermal imagery in their line of view, unaffected by environmental conditions, such as smoke.

Traditionally firefighters have relied on handheld thermal imaging cameras, which can hinder their performance, focus and dexterity. The ruggedized, in-mask, thermal imaging vision system is an adjustable optical solution that adapts to the firefighter, freeing both hands, and enhancing their effectiveness during life-saving search and rescue missions.

“Firefighters require a reliable vision system that offers them greater situational awareness and consistent thermal imaging performance in very hostile environments,” said Bill Maffucci, SVP of Business Development and Strategy. “We are proud of our long-standing relationship with this repeat customer and their confidence in Kopin engineering and products. We look forward to our continued partnership and meeting their full production needs with our custom optical module solution.”

Deliveries of Kopin’s thermal imaging vision system, in support of the $1.5 million follow-on contract, are planned throughout the 2025 calendar year.

About Kopin

Kopin Corporation is a leading developer and provider of innovative display and optical technologies sold as critical components and subassemblies for defense, industrial and consumer products. Kopin's technology portfolio includes ultra-small Active-Matrix Liquid Crystal displays (AMLCD), Liquid Crystal on Silicon (LCOS) displays 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.

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. 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. These forward-looking statements may include statements with respect to our expectation of a continued partnership and meeting their full production needs with our custom optical module solution; and our expectation of deliveries of Kopin’s thermal imaging vision system, in support of the $1.5 million follow-on contract, throughout the 2025 calendar year. 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 our Securities and Exchange Commission filings.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240730881581/en/

Kopin Corporation

Bill Maffucci, 508-870-5959

SVP of Business Development and Strategy,

bmaffucci@kopin.com

Richard Sneider, 508-870-5959

Treasurer and Chief Financial Officer

Richard_Sneider@kopin.com

or

MZ Contact:

Brian M. Prenoveau, CFA, 561 489 5315

MZ Group – MZ North America

KOPN@mzgroup.us

Or

LightSpeed PR

Michael Farino

michael@lightspeedpr.com

Source: Kopin Corporation

FAQ

What is the value of Kopin's new contract for firefighter thermal imaging systems?

Kopin (NASDAQ: KOPN) has been awarded a $1.5 million follow-on contract for their near eye, thermal imaging vision system designed for firefighter masks.

When are the deliveries for Kopin's firefighter thermal imaging systems scheduled?

Deliveries of Kopin's thermal imaging vision system, in support of the $1.5 million follow-on contract, are planned throughout the 2025 calendar year.

How does Kopin's thermal imaging system benefit firefighters?

Kopin's system provides hands-free, real-time thermal imagery in the firefighter's line of view, enhancing situational awareness and effectiveness during search and rescue missions, especially in smoke-filled environments.

What components are included in Kopin's firefighter thermal imaging system?

The system includes a miniaturized AMLCD (active-matrix liquid crystal display), optics integrated into the mask's facepiece, and a small thermal camera mounted to the side of the mask.