Kopin (KOPN) financial statements
Kopin reported revenue of $39M in fiscal 2025, up 43.5% a year over 9 years.
Net income was $3M and the operating margin -25.1%, against -1340.3% in 2016.
Free cash flow was -$17M.
The diluted share count rose 173% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Kopin's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2M | $3M | $24M | $30M | $40M | $46M | $47M | $40M | $50M | $39M |
| Cost of revenue | $18M | $18M | $16M | $21M | $21M | — | — | — | — | — |
| Gross profit | -$16M | -$15M | $9M | $9M | $19M | — | — | — | — | — |
| Research and development | $15M | $16M | $13M | $9M | $4M | $6M | $8M | $4M | $6M | $7M |
| Selling, general and admin | $17M | $21M | $27M | $21M | $12M | $18M | $18M | $22M | $23M | $16M |
| Operating income | -$20M | -$30M | -$40M | -$26M | -$5M | -$14M | -$22M | -$17M | -$43M | -$10M |
| Pre-tax income | -$20M | -$28M | -$34M | -$29M | -$4M | -$13M | -$19M | -$20M | -$44M | $3M |
| Income tax | -$3M | $3M | $30,000 | $108,000 | $129,000 | $129,000 | $144,000 | $156,000 | $170,000 | $208,000 |
| Net income | -$24M | -$25M | -$35M | -$30M | -$4M | -$13M | -$19M | -$20M | -$44M | $3M |
| EPS (diluted) | -$0.37 | -$0.36 | -$0.47 | -$0.37 | -$0.05 | -$0.15 | -$0.21 | -$0.18 | -$0.33 | $0.01 |
| Diluted shares | 64M | 70M | 73M | 80M | 82M | 89M | 91M | 109M | 133M | 175M |
| Gross margin | -1066.3% | -514.9% | 35.3% | 29.2% | 46.7% | — | — | — | — | — |
| Operating margin | -1340.3% | -1028.2% | -163.4% | -89.4% | -11.9% | -30.2% | -46.0% | -42.5% | -85.6% | -25.1% |
| Net margin | -1543.0% | -856.6% | -141.2% | -100.0% | -11.0% | -29.4% | -40.8% | -48.9% | -87.2% | 6.6% |
Balance sheet
Fiscal years, from Kopin's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $77M | $69M | $37M | $22M | $21M | $29M | $13M | $17M | $36M | $36M |
| Receivables | $2M | $4M | $3M | $6M | $9M | $12M | $7M | $10M | $12M | $11M |
| Inventory | $3M | $5M | $5M | $4M | $4M | $7M | $6M | $8M | $6M | $6M |
| Total current assets | $83M | $80M | $49M | $34M | $39M | $52M | $31M | $40M | $63M | $92M |
| Property, plant and equipment | $3M | $5M | $3M | $1M | $2M | $2M | $2M | $2M | $2M | $3M |
| Goodwill | $844,023 | $2M | $331,344 | $0 | $0 | $0 | — | — | — | — |
| Total assets | $88M | $91M | $60M | $43M | $48M | $63M | $44M | $49M | $71M | $108M |
| Total current liabilities | $13M | $12M | $10M | $11M | $17M | $18M | $14M | $16M | $44M | $34M |
| Total liabilities | $14M | $14M | $12M | $14M | $19M | $23M | $20M | $20M | $47M | $37M |
| Shareholders' equity | $74M | $77M | $48M | $29M | $28M | $40M | $24M | $30M | $23M | $64M |
| Net debt | -$16M | -$25M | -$14M | -$6M | -$17M | -$27M | -$8M | -$6M | -$14M | -$36M |
Cash flow
Fiscal years, from Kopin's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$26M | -$26M | -$28M | -$21M | -$4M | -$11M | -$18M | -$15M | -$14M | -$16M |
| Capital spending | $394,897 | $3M | $1M | $170,186 | $542,862 | $1M | $832,712 | $949,487 | $815,299 | $1M |
| Free cash flow | -$27M | -$29M | -$29M | -$21M | -$5M | -$12M | -$19M | -$16M | -$15M | -$17M |
| Stock-based compensation | $2M | $2M | $5M | $2M | $821,122 | $4M | $1M | $4M | $3M | $3M |
| Dividends paid | $0 | $791,737 | — | — | — | — | — | — | — | — |
| Share buybacks (net) | $0 | — | — | — | — | — | — | — | — | — |
| Free cash flow margin | -1739.5% | -974.2% | -119.7% | -71.8% | -12.4% | -25.8% | -39.1% | -40.1% | -29.9% | -43.2% |
| Dividends per share | — | $0.01 | — | — | — | — | — | — | — | — |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for KOPN.
Open KOPN in InvestinglyQuestions
What was Kopin's revenue in 2025?
$39M in fiscal 2025, from its 10-K filing.
How much free cash flow does Kopin generate?
-$17M in fiscal 2025 (operating cash flow minus capital spending).
From Kopin's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.