# Kopin Corporation (KOPN)

> Source: Nexqual · https://nexqual.com/KOPN · data as of 2026-10-29 20:00 UTC · cite as "Nexqual, Kopin Corporation (KOPN), nexqual.com/KOPN" · informational, not investment advice.

**Price:** USD 4.03 (+3.33% on the day) · last close of Oct 29, 2026; US market closed, not a live price. Prev close 3.9 · day 3.86–4.13 · 52w 1.81–6.61 · market cap $728M · NCM

## Key facts
- Last four reported quarters (through Jun 27, 2026): revenue $43.6M, net income $8.0M (18.3% margin), free cash flow -$18.4M (SEC filings).
- Valuation: P/E 91.4x (avg 157.2x at the last 1 fiscal year-ends).
- Analysts: Buy (mean 2.00 on a 1–5 scale) (7 analysts), mean target USD 8.43 (range 6.5–12).
- Total return with dividends: 1Y +14.4% vs S&P 500 +14.8%; 5Y -23.1% vs S&P 500 +79.1%.
- Next earnings: 2026-11-10 (date not yet confirmed by the company), EPS estimate USD 0, revenue estimate $16.0M. All companies reporting that day: https://nexqual.com/earnings/2026-11-10
- Dividend: KOPN paid no cash dividend in the last five years.
- Short interest: 13.71% of float (as of 2026-10-15), 6.8 days to cover.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $45.7M | $47.4M | $40.4M | $50.3M | $39.3M | $43.6M |
| Operating income | -$13.8M | -$21.8M | -$17.2M | -$43.1M | -$9.9M | -$10.0M |
| Net income | -$13.4M | -$19.3M | -$19.7M | -$43.9M | $2.6M | $8.0M |
| EPS (diluted) | -$0.15 | -$0.21 | -$0.18 | -$0.33 | $0.01 | — |
| Free cash flow | -$11.8M | -$18.5M | -$16.2M | -$15.0M | -$17.0M | -$18.4M |
| Operating margin | -30.2% | -46.0% | -42.5% | -85.6% | -25.1% | -22.9% |
| Net margin | -29.4% | -40.8% | -48.9% | -87.2% | 6.6% | 18.3% |
| Revenue growth | +13.8% | +3.8% | -14.8% | +24.6% | -21.9% | — |
| Cash + short-term investments | $29.3M | $12.6M | $17.4M | $35.6M | — | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 27, 2026)
P/E 91.4x · P/S 16.7x · P/B 10.5x · FCF yield -2.53% · Earnings yield 1.09%
P/E at fiscal year-ends: Dec 2025 157.2x.

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 7 analysts; mean target USD 8.43 (low 6.5, high 12).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-17 | Oppenheimer | Initiated | Outperform | $7 |
| 2026-08-14 | Canaccord Genuity | Target raised | Buy | $6.25 → $6.5 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-30) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +14.4% | -23.1% |
| S&P 500 (SPY) | +14.8% | +79.1% |
| Per year | +14.5% | -5.1% |
| Volatility (annualized) | 96.7% | 89.3% |
| Max drawdown | -50.5% (Jun 2026→Jul 2026) | -90.8% (Nov 2021→Sep 2024) |

## Dividends
KOPN paid no cash dividend in the last five years.

## Short interest
24,111,572 shares sold short, 13.71% of the float, as of Oct 15, 2026 (exchange short-interest report, published about twice a month). Prior report (Sep 15, 2026): 26,232,459 shares (-8.1%). Days to cover: 6.8 (short shares ÷ average daily volume).

## Peers (Electronic Components)
OUST (Ouster, Inc.) USD 32.14 -4.37% · ROG (Rogers Corporation) USD 140.33 -0.33% · BHE (Benchmark Electronics, Inc.) USD 72.32 -1.42% · KN (Knowles Corporation) USD 34.97 +0.66% · OSIS (OSI Systems, Inc.) USD 208.17 +3.74% · BELFB (Bel Fuse Inc.) USD 235.73 +3.49%

## More
Full page: https://nexqual.com/KOPN · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name KOPN in their own reports (relationship from KOPN's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| customer | Vuzix Corp (VUZI) | 10-K 2026-03-12 | "Forte was originally owned and controlled by Kopin Corporation, one of our prior microdisplay suppliers." |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.00 | $0.00 | $0.00 | $16.0M | 1 |
| Next quarter (ends 2026-12-31) | $0.00 | $0.00 | $0.00 | $21.4M | 1 |
| Current fiscal year (ends 2026-12-31) | $-0.02 | $-0.05 | +$0.03 | $60.6M | 7 |
| Next fiscal year (ends 2027-12-31) | $0.00 | $0.00 | $0.00 | $79.5M | 1 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | $0.00 | −$0.01 | Beat +$0.01 | — |
| — | Quarter ended Dec 31, 2025 | −$0.02 | −$0.01 | Miss −$0.01 | — |
| — | Quarter ended Sep 30, 2025 | $0.03 | $0.00 | Beat +$0.03 | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).