Kopin Corporation announced a $1 million development order for its DarkWAVE™ Module from Theon International, marking the first product order for the DarkWAVE platform. The module is a defense‑focused display solution that integrates Kopin’s microdisplay technology into a compact, sovereign‑sourced package, and the order signals a key milestone in Kopin’s strategic pivot toward defense applications.
The order follows a series of recent developments that underscore Kopin’s growing defense footprint. In 2023, the company secured a $12.8 million contract for a Thermal Weapon Sight Program and a $15.4 million U.S. color microLED development contract. In August 2025, Theon invested $15 million in Kopin, including equity in its Scottish subsidiary and convertible shares for a joint defense collaboration. These moves, combined with the new DarkWAVE order, illustrate a deliberate effort to deepen the partnership and expand the company’s defense portfolio.
Technically, the DarkWAVE module is a 960p, ITAR‑free product slated for production readiness in 2026. The ITAR‑free designation allows sales to global customers without U.S. export restrictions, opening access to NATO‑aligned markets. The module also targets an aftermarket opportunity of roughly 2 million night‑vision goggles in use worldwide, positioning Kopin to capture incremental revenue from existing equipment upgrades.
Financially, Kopin’s Q3 2025 results provide context for the order’s significance. Revenue for the quarter was $12.0 million, down from $13.3 million in Q3 2024, while earnings per share were $0.02 versus a consensus estimate of –$0.01. Net income reached $4.1 million, a turnaround from the prior year’s loss. Although revenue declined, the company’s ability to secure a new development order demonstrates resilience and a growing demand for its defense solutions.
CEO Michael Murray highlighted the module’s unique value proposition, noting that the DarkWAVE platform offers a cost‑effective aftermarket upgrade for existing night‑vision goggles and that its ITAR‑free nature will unlock new global markets. He emphasized that the partnership with Theon strengthens Kopin’s position in the European and NATO defense space.
The broader market context reinforces the strategic importance of the order. The global night‑vision market is projected to grow from $8.6 billion in 2025 to $12.9 billion by 2030, a CAGR of 8.5%. Theon’s recent acquisition of a stake in Exosens SA and its collaboration with Team Wendy Ceradyne further enhance the joint capability to deliver integrated night‑vision solutions to U.S. Army customers.
In summary, the $1 million development order for the DarkWAVE module represents a pivotal step for Kopin, deepening its partnership with Theon, expanding its defense portfolio, and positioning the company to capture additional revenue from a growing global night‑vision market while maintaining an ITAR‑free product line that broadens its international reach.
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