KOPN Nasdaq Semiconductors & Related Devices Financials FY2016βFY2025
Kopin Corp had $1.5M of revenue in fiscal 2025, up 51.5% on the year before. Over five years, revenue changed β48.0% a year on average.
Last close Β· Oct 23, 2026
$3.38
0.9%Hi! I read Kopin Corpβs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+51.5%
Yes. Sales grew 51.5% last year.
Does it make a profit?
170.3%
Yes. It keeps 170.3% of every sale as profit.
Does profit turn into cash?
β1,109.3%
No. It spent more cash than it brought in.
How healthy are the accounts?
3 / 7
Weak. It passes 3 of 7 health tests.
How is the share priced?
84.5x
One share costs 84.5 times its yearly profit per share.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
KIRA Β· Kopin Corp had $1.5M of revenue in fiscal 2025, up 51.5% on the year before. Over five years, revenue changed β48.0% a year on average. Its operating margin was β643.9%, up 3,624.3Β pts: of every 100 in sales, about β644 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· Kopin Corp made $2.6M of net profit in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was β$17.0M in fiscal 2025, β1,109.3% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· In the last 12 months, insiders sold $1.9M of shares on the open market and bought none.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$1.9M
2 insiders
Of sales under plans
100%
$1.9M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| May 6, 2026 | Paul Christopher BakerChief Operating Officer | Sold plan | 58,939 | $4.90 | $0.3M | Form 4 |
| May 5, 2026 | Paul Christopher BakerChief Operating Officer | Sold plan | 1,041 | $4.90 | $0.0M | Form 4 |
| Apr 28, 2026 | Paul Christopher BakerChief Operating Officer | Sold plan | 116,860 | $3.95 | $0.5M | Form 4 |
| Apr 17, 2026 | Michael Andrew MurrayCEO, Director | Sold plan | 96,800 | $3.01 | $0.3M | Form 4 |
| Apr 15, 2026 | Michael Andrew MurrayCEO, Director | Sold plan | 63,200 | $3.01 | $0.2M | Form 4 |
| Apr 13, 2026 | Michael Andrew MurrayCEO, Director | Sold plan | 187,920 | $2.80 | $0.5M | Form 4 |
| Mar 26, 2026 | Michael Andrew MurrayCEO, Director | Sold plan | 5,413 | $2.25 | $0.0M | Form 4 |
| Mar 25, 2026 | Michael Andrew MurrayCEO, Director | Sold plan | 33,334 | $2.32 | $0.1M | Form 4 |
Can it carry its debts, and how well does it use its money?
Cash, debt and the ratios that show how comfortably Kopin Corp can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $29.3M | $12.6M | $17.4M | $35.6M | $36.4M |
| Current ratio | 3.0x | 2.1x | 2.5x | 1.4x | 2.7x |
| Quick ratio | 2.6x | 1.7x | 2.0x | 1.3x | 2.5x |
| Total assets | $63.0M | $43.8M | $49.3M | $70.8M | $108M |
| Total liabilities | $23.4M | $19.8M | $19.8M | $47.5M | $36.7M |
| Shareholders' equity | $39.8M | $24.2M | $29.5M | $23.3M | $64.1M |
| Net debt (β = net cash) | β | β | β | β | β |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· Kopin Corp passes 3 of 7 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | 3 / 8 | 3 / 8 | 2 / 8 | 3 / 8 | 2 / 7 | 1 / 7 | 4 / 7 | 1 / 7 | 3 / 7 |
| Accruals ratio | 3.0% | 0.8% | β8.5% | β16.5% | 0.0% | β4.9% | β3.1% | β9.6% | β49.4% | 20.3% |
| Altman Z'' | 1.37 | β0.41 | β10.79 | β21.43 | β16.96 | β12.58 | β24.82 | β21.27 | β20.35 | β7.29 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $22.6M | $27.8M | $24.5M | $29.5M | $40.1M | $4.4M | $1.7M | $1.9M | $1.0M | $1.5M |
| Gross profit | $4.8M | $9.7M | $8.6M | $8.6M | $18.7M | β | β | β | β | β |
| Research and development | $15.3M | $15.5M | $12.6M | $9.1M | $3.9M | $6.3M | $8.4M | $3.6M | $5.8M | $6.7M |
| Operating income | β$20.5M | β$30.3M | β$40.0M | β$26.4M | β$4.8M | β$13.8M | β$21.8M | β$17.2M | β$43.1M | β$9.9M |
| Pretax income | β$19.9M | β$28.3M | β$34.5M | β$29.3M | β$4.4M | β$13.3M | β$19.2M | β$19.6M | β$43.7M | $2.8M |
| Income tax | β$3.1M | $3.0M | $0.0M | $0.1M | $0.1M | $0.1M | $0.1M | $0.2M | $0.2M | $0.2M |
| Net income | β$23.6M | β$25.2M | β$34.5M | β$29.5M | β$4.4M | β$13.4M | β$19.3M | β$19.7M | β$43.9M | $2.6M |
| Net income to common | β | β | β | β | β | β | β | β | β$43.9M | $2.5M |
| Diluted EPS | β$0.37 | β$0.36 | β$0.47 | β$0.37 | β$0.05 | β$0.15 | β$0.21 | β$0.18 | β$0.33 | $0.01 |
| Diluted shares | 0.06B | 0.07B | 0.07B | 0.08B | 0.08B | 0.09B | 0.09B | 0.11B | 0.13B | 0.18B |
| Cash flow | ||||||||||
| Cash from operations | β$26.2M | β$25.9M | β$28.1M | β$21.0M | β$4.4M | β$10.7M | β$17.7M | β$15.3M | β$14.2M | β$15.5M |
| Capital expenditure | $0.4M | $2.8M | $1.2M | $0.2M | $0.5M | $1.0M | $0.8M | $0.9M | $0.8M | $1.4M |
| Free cash flow | β$26.6M | β$28.7M | β$29.3M | β$21.2M | β$5.0M | β$11.8M | β$18.5M | β$16.2M | β$15.0M | β$17.0M |
| Depreciation and amortization | $1.0M | $0.9M | $1.0M | $0.8M | $0.7M | $0.7M | $0.7M | $0.6M | $0.6M | $0.8M |
| Stock-based compensation | $2.4M | $2.3M | $4.8M | $2.1M | $0.8M | $4.4M | $1.3M | $3.9M | $3.3M | $3.0M |
| Share buybacks | $0.0M | β | β | β | β | β | β | β | β | β |
| Dividends paid | $0.0M | $0.8M | β | β | β | β | β | β | β | β |
| Dividends and buybacks | $0.0M | $0.8M | β | β | β | β | β | β | β | β |
| Balance sheet | ||||||||||
| Cash and short-term investments | $77.2M | $68.8M | $37.2M | $21.8M | $20.7M | $29.3M | $12.6M | $17.4M | $35.6M | $36.4M |
| Deposits | β | β | β | β | β | β | β | $0.4M | β | β |
| Current assets | $83.4M | $79.7M | $49.4M | $33.8M | $39.5M | $52.2M | $30.9M | $39.8M | $62.8M | $91.8M |
| Current liabilities | $13.4M | $12.1M | $10.4M | $11.3M | $16.9M | $17.5M | $14.5M | $15.9M | $43.9M | $34.0M |
| Inventory | $3.3M | $5.1M | $4.8M | $3.8M | $4.5M | $6.6M | $6.4M | $7.6M | $6.1M | $5.5M |
| Property and equipment, net | $3.0M | $5.1M | $2.6M | $1.5M | $1.6M | $1.9M | $1.8M | $2.2M | $2.1M | $2.6M |
| Goodwill | $0.8M | $1.8M | $0.3M | $0.0M | $0.0M | $0.0M | β | β | β | β |
| Intangible assets | $0.0M | $0.9M | $0.0M | β | β | β | β | β | β | β |
| Total assets | $87.8M | $91.3M | $59.5M | $43.0M | $47.5M | $63.0M | $43.8M | $49.3M | $70.8M | $108M |
| Total liabilities | $13.8M | $14.6M | $11.7M | $14.4M | $19.3M | $23.4M | $19.8M | $19.8M | $47.5M | $36.7M |
| Preferred stock | $0.0M | $0.0M | $0.0M | $0.0M | β | β | β | β | β | β |
| Shareholders' equity | $74.1M | $76.8M | $47.9M | $28.6M | $28.4M | $39.8M | $24.2M | $29.5M | $23.3M | $64.1M |
| Margins | ||||||||||
| Gross margin | 21.3% | 34.9% | 35.3% | 29.2% | 46.7% | β | β | β | β | β |
| Operating margin | β90.4% | β108.8% | β163.4% | β89.4% | β11.9% | β311.7% | β1,308.5% | β910.0% | β4,268.2% | β643.9% |
| EBITDA margin | β86.0% | β105.6% | β159.3% | β86.7% | β10.2% | β296.6% | β1,265.1% | β877.8% | β4,205.2% | β589.7% |
| Net margin | β104.1% | β90.7% | β141.2% | β100.0% | β11.0% | β304.0% | β1,160.5% | β1,046.2% | β4,344.3% | 170.3% |
| FCF margin | β117.3% | β103.1% | β119.7% | β71.8% | β12.4% | β266.6% | β1,112.1% | β858.7% | β1,489.3% | β1,109.3% |
| Returns | ||||||||||
| Return on capital employed | β27.5% | β38.2% | β81.3% | β83.1% | β15.5% | β30.3% | β74.4% | β51.4% | β160.7% | β13.2% |
| Return on equity | β31.8% | β33.5% | β55.4% | β77.2% | β15.5% | β39.4% | β60.4% | β73.6% | β166.2% | 6.0% |
| Return on assets | β26.8% | β28.2% | β45.8% | β57.5% | β9.7% | β24.3% | β36.2% | β42.4% | β73.1% | 2.9% |
| Return on tangible equity | β32.2% | β34.1% | β72.7% | β103.1% | β15.5% | β33.8% | β80.0% | β66.9% | β188.5% | 4.0% |
| Growth | ||||||||||
| Revenue growth | β | 23.0% | β12.1% | 20.7% | 35.9% | β89.0% | β62.3% | 13.4% | β46.5% | 51.5% |
| Share count change | β | 9.2% | 4.6% | 9.7% | 2.6% | 7.9% | 2.9% | 19.2% | 21.9% | 31.8% |
| Financial health | ||||||||||
| Current ratio | 6.2x | 6.6x | 4.8x | 3.0x | 2.3x | 3.0x | 2.1x | 2.5x | 1.4x | 2.7x |
| Quick ratio | 6.0x | 6.2x | 4.3x | 2.7x | 2.1x | 2.6x | 1.7x | 2.0x | 1.3x | 2.5x |
| Capital allocation | ||||||||||
| Capex / revenue | 1.7% | 10.0% | 4.8% | 0.6% | 1.4% | 23.4% | 50.0% | 50.3% | 80.7% | 93.9% |
| Stock comp / revenue | 10.7% | 8.2% | 19.6% | 7.0% | 2.0% | 100.0% | 76.1% | 205.3% | 330.2% | 198.2% |
| Quality scores | ||||||||||
| Piotroski F-score | β | 3.0 | 3.0 | 2.0 | 3.0 | 2.0 | 1.0 | 4.0 | 1.0 | 3.0 |
| Altman Z'' | 1.4 | β0.4 | β10.8 | β21.4 | β17.0 | β12.6 | β24.8 | β21.3 | β20.3 | β7.3 |
| Accruals ratio | 3.0% | 0.8% | β8.5% | β16.5% | 0.0% | β4.9% | β3.1% | β9.6% | β49.4% | 20.3% |
Source: SEC EDGAR XBRL filings (CIK 0000771266). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
