Kopin Corporation reported total revenues of $8.5 million for the second quarter ended June 28, 2025, a decrease compared to $12.3 million in the prior year's second quarter. Product revenues decreased to $7.5 million, primarily due to reduced thermal weapon sight revenues and lower-than-expected orders for training and simulation and optical inspection modules, partially offset by increased sales for public safety and medical devices.
The cost of product revenues as a percentage of net product revenues increased to 94% in Q2 2025 from 79% in Q2 2024, attributed to a decrease in unit volumes and the under-absorption of overhead costs. The net loss attributable to Kopin Corporation for the quarter was ($5.2) million, or ($0.03) per share, compared with ($5.9) million, or ($0.05) per share, in Q2 2024.
Despite the revenue decline, CEO Michael Murray highlighted the recently announced $15 million strategic investment from Theon International Plc as a 'transformational event' for Kopin. This partnership provides immediate access to the rapidly growing European and Southeast Asian defense markets, leveraging Kopin's advanced display technologies and Theon's market leadership.
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