# EDGAR Filing Document

**Accession Number:** 0000771266
**File Stem:** 0001493152-25-011249
**Filing Date:** 2025-7
**Character Count:** 11266
**Document Hash:** 702c1057ea34dccae8110cb68c9600a5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-25-011249.hdr.sgml**: 20250715

**ACCESSION NUMBER**: 0001493152-25-011249

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20250513

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250715

**DATE AS OF CHANGE**: 20250715

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** KOPIN CORP
- **CENTRAL INDEX KEY:** 0000771266
- **STANDARD INDUSTRIAL CLASSIFICATION:** SEMICONDUCTORS & RELATED DEVICES [3674]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 042833935
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1228

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-19882
- **FILM NUMBER:** 251125189

**BUSINESS ADDRESS:**
- **STREET 1:** 125 NORTH DRIVE
- **CITY:** WESTBOROUGH
- **STATE:** MA
- **ZIP:** 01581
- **BUSINESS PHONE:** 508-870-5959

**MAIL ADDRESS:**
- **STREET 1:** 125 NORTH DRIVE
- **CITY:** WESTBOROUGH
- **STATE:** MA
- **ZIP:** 01581

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, DC 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the**

**Securities Exchange Act of 1934**

**Date of Report (Date of Earliest Event Reported) May 13, 2025** 

**KOPIN CORPORATION**

**(Exact Name of Registrant as Specified in Charter)**

---

| | | |
|:---|:---|:---|
| **Delaware** | **000-19882** | **04-2833935** |
| **(State or Other Jurisdiction**<br> **of Incorporation)** | **(Commission**<br> **File Number)** | **(IRS Employer**<br> **Identification No.)** |

---

**<u>125 North Drive, Westborough, MA 01581</u>**

**<u>(Address of Principal Executive Offices) (Zip Code)</u>**

**<u>(508) 870-5959</u>**

(Registrant's telephone number, including area code)

**<u>N/A</u>**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol | Name of each exchange on which registered |
| Common Stock, par value $0.01 | KOPN | Nasdaq Capital Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 2.02. <u>Results of Operations and Financial Condition</u>.**

Kopin Corporation (the "Company") issued a press release on May 13, 2025, a copy of which is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference, in which the Company announced financial results for the first quarter ended March 29, 2025. The information in this Item 2.02 (including Exhibit 99.1) shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

**Item 9.01. <u>Financial Statements and Exhibits</u>.**

**(d) <u>Exhibits</u>**

See the Exhibit Index below, which is incorporated by reference herein.

**EXHIBIT INDEX**

<u>Exhibit</u> <u>Description</u> <br> 99.1 [Press Release dated May 13, 2025, entitled, "Kopin Reports Financial Results for the First Quarter 2025".](ex99-1.htm) <br> 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
| | | KOPIN CORPORATION |
| Dated: | July 15, 2025 | */s/ Richard A. Sneider* |
| | | Richard A. Sneider |
| | | Treasurer and Chief Financial Officer |
| | | (Principal Financial and Accounting Officer) |

---

## Exhibit 99.1

**Exhibit 99.1**

**Kopin Corporation Reports Financial Results for the First Quarter 2025**

*Approximately $28 million of orders received in Q125 translates to 2.8:1 Book to bill for Q1 2025*

 

● Q1 2025 product revenues increased 2% compared to the same period in 2024

● Funded research revenues increased 37% in Q1 2025

● 2.8:1 Positive book-to-bill for Q1 2025

● Reaffirms expectations of Double-Digit Revenue Growth in 2025 over 2024

**WESTBOROUGH, MA, May 13, 2025 (BUSINESSWIRE)** – Kopin Corporation ("Kopin" or "the Company") (Nasdaq: KOPN), a leading developer and provider of high-performance application-specific optical solutions consisting of high-resolution microdisplays, microdisplays subassemblies and related components for defense, enterprise, industrial, and consumer products, today reported financial results for the first quarter ended March 29, 2025.

Commenting on the quarterly results, Michael Murray, Chief Executive Officer, stated, "The first quarter of 2025 was marked by strong order flow as we continue to supply top tier defense contractors. One of the larger orders in the quarter was for thermal weapons sights, a multi-year, full-scale production program that showcases our expertise in high resolution microdisplays and optics. Additionally, we received several orders to supply microdisplays for pilot Helmet Mounted Display Systems. The Company was awarded several new, exciting and innovative research and development contracts focusing on reducing size, weight, power consumption of current AR/XR solutions with more advanced display technologies, like Color MicroLED displays for soldier vision.

"Our strong order flow continues to demonstrate the need and desire for application specific optical solutions whether in defense, industrial or medical applications. We strive to work with top-tier customers to design new and innovative ways to get the clearest and most accurate micro display solutions for their specific needs."

Mr. Murray concluded: "Our ONE Kopin initiative has continued to improve manufacturing efficiencies, reduce redundancies and integrate markets to better serve European and Southeast Asian defense markets. In 2025 we are embarking on an aggressive automation plan which we believe will enhance our quality, improve product margins and allow us to leverage our facilities on a 24/7 basis without the need to add full manufacturing shifts."

**First Quarter Financial Results**

Total revenues for the first quarter ended March 29, 2025, were $10.5 million, compared to $10.0 million for the first quarter ended March 29, 2024, a 5% increase. Year-over-year product revenues increased 2%, with defense product revenues increasing by $0.2 million or 2.8% year over year primarily due to an increase in revenues from products used in thermal weapon sights and in pilot helmets. First quarter 2025 funded research and development revenues increased to $1.2 million a 37% increase primarily due to increases in funding for U.S. defense programs.

Cost of Product Revenues for the first quarter of 2025 were $7.6 million, or 83% of net product revenues, compared with $8.5 million, or 95% of net product revenues for the first quarter of 2024. The decrease in cost of product revenue as a percent of net product revenues for the three months ended March 29, 2025 as compared to the three months ended March 30, 2024 was due to increased efficiencies and improved yields.

Research and Development (R&D) expenses for the first quarter of 2025 were $2.1 million compared to $2.1 million for the first quarter of 2024, essentially flat. Customer-funded R&D expense declined approximately $0.2 million in the first quarter of 2025 as compared to the first quarter of 2024, while internal R&D increased $0.2 million year over year.

Selling, General and Administration (SG&A) expenses were $4.7 million for the first quarter of 2025, compared to $7.2 million for the first quarter of 2024. The decrease for the three months ended March 29, 2025, as compared to the three months ended March 30, 2024, was primarily due to a decrease in legal fees of $2.9 million.

Net Loss Attributed to Kopin Corporation for the first quarter of 2025 was ($3.1) million, or ($0.02) per share, compared with ($32.5) million, or ($0.27) per share, for the first quarter of 2024.The first quarter of 2024 included a $24.8 million reserve for litigation damages.

All amounts above are estimates and readers should refer to our Form 10-Q for the quarter ended March 29, 2025, for final disposition as well as important risk factors.

**Earnings Call and Webcast**

Kopin Corporation management will host the conference call, followed by a question and answer session.

Date: Tuesday, May 13, 2025

Time: 5:00 PM Eastern Time (2:00 PM Pacific Time)

U.S. dial-in number: 800-445-7795

International number: 785-424-1699

Conference ID: KOPIN

Webcast: <u>1Q25 Webcast Link</u>

The Company will also provide a link at <u>Kopin Investor Relations</u> for those who wish to stream the call via webcast. Please call the conference telephone number 5-10 minutes prior to the start time.

A telephonic replay of the conference call will also be available through May 20, 2025.

Toll-free replay number: 844-512-2921

International replay number: 412-317-6671

Replay passcode: 11159136

**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 <u>www.kopin.com</u>. Kopin is a trademark of Kopin Corporation.

**Forward-Looking Statements**

**Contact Information**

**For Investor Relations**

Kopin Corporation

**Richard Sneider**

Treasurer and Chief Financial Officer

<u>rsneider@kopin.com</u>

**MZ Contact**

Brian M. Prenoveau, CFA

MZ Group – MZ North America

KOPN@mzgroup.us

+561 489 5315