Kopin Revenue Jumps 52% to $18.2 Million in Third Quarter
Key Facts
Kopin reported third-quarter revenue of $18.2 million for the period ended September 26, 2026, up 52% year over year, according to an earnings release dated November 10. Revenue also rose 43% from the second quarter, when it was $12.7 million. Revenue was $12.0 million in the third quarter of 2025, putting the quarterly and annual increases at the center of the company's results. Kopin said annual revenue growth mainly reflected research and development revenue from its joint program with Fabric.AI, along with grant revenue tied to a government award for color MicroLED technology. The company thus linked a major part of its growth to funded development programs and grants, while the results also disclosed a net loss for the period.
Kopin posted a third-quarter net loss of $3.4 million, or $0.02 per share, compared with net income of $4.1 million, or $0.02 per share, in the same period a year earlier. The company said the quarterly loss included about $2.7 million in net investment losses. The figures show that higher revenue did not coincide with a net profit for the quarter, despite sales growth compared with the previous two periods. The year-over-year comparison in net results differs from that in revenue: the company moved from net income in the third quarter of 2025 to a loss in the third quarter of 2026. The figures in the release offered no further explanation of the investment losses beyond their included value in the period's net loss.
On funding, Kopin said it received an additional $18.6 million award from the U.S. Army for the IBAS program. The award brought cumulative funding for color MicroLED technology under the program to $34 million as of November 10, 2026. The CEO said the additional funding keeps the company "on the targeted path to begin manufacturing MicroLED products in the U.S. in mid-2027." The timeline links current government funding to the company's plan to shift to domestic manufacturing, according to the CEO's statement in the earnings release. In its second-quarter results, Kopin had reported that a color MicroLED display exceeded 150,000+ nits of brightness and said it was targeting a move to domestic product manufacturing in mid-2027.
On a separate track, Kopin and Fabric.AI said they had begun initial tests of the transmit link for Neural I/o technology. The two companies are targeting a public demonstration at CES in January 2027, according to the company. Kopin also set 2028 as its target date to commercialize first-generation production silicon. The stated milestones place initial testing ahead of the targeted public demonstration, which in turn precedes the targeted production commercialization date by about a year. The announcement did not specify test results or the amount of revenue that could be associated with the technology.
The company had previously said results for the quarter ended September 26 would be released after the market close on Tuesday, November 10, 2026. In trading before the announcement, KOPN shares closed at $3.38 on November 9, according to EL7 data. That price is for the session before the results announcement and does not include a daily trading range. The period's results combine revenue growth with a continued net loss, while the company attributed annual revenue growth to its research and development program with Fabric.AI and government grants. The company's announced upcoming milestones include a targeted Neural I/o demonstration in January 2027 and the start of U.S. manufacturing of MicroLED products in mid-2027, followed by the targeted commercialization of production silicon in 2028.