Kopin Corporation reported total revenues of $50.3 million for the full fiscal year ended December 28, 2024, representing a 24.6% increase compared to $40.4 million in 2023. Product revenues for 2024 increased to $43.6 million from $25.9 million in the prior year, primarily driven by increased shipments of thermal weapon sights.
For the fourth quarter of 2024, total revenues increased 71% to $14.6 million compared to $8.6 million in Q4 2023. The cost of product revenues as a percentage of net product revenues improved to 83% for the full year 2024, down from 96% in 2023, benefiting from increased unit volume and fixed cost leverage.
The net loss attributable to Kopin for the full year 2024 was $43.9 million, or ($0.33) per share, compared to $19.7 million, or ($0.18) per share, in 2023, partly due to increased legal and professional fees. Kopin expects 2025 revenue to be between $52 million and $55 million, supported by a strong order book and an aggressive automation plan to increase capacity and improve gross margins.
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