KOPN earnings analysis
What we found in KOPN's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Kopin’s Q2 2026 revenue increased to $12.7 million, up 15.5% sequentially and 58.8% year over year, while diluted EPS improved to $0.00 from losses of $(0.02) and $(0.03), respectively. However, the provided filing text does not disclose current gross margin, operating margin, free cash flow, balance-sheet trends, or segment results. Persistent material weaknesses in controls and the $19.7 million BlueRadios judgment, supported by $24.2 million of restricted cash, remain significant offsets to the improved operating trend.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Rebounded Year Over Year
- Q2 2026 revenue was $12.7 million, up approximately 15.5% from $11.0 million in Q1 2026 and 58.8% from $8.0 million in Q2 2025. Revenue exceeded the provided consensus estimate of $11.83 million by approximately 7.4%.
- EPS Improved to Break-Even
- Reported diluted EPS was $0.00 versus $(0.02) in Q1 2026 and $(0.03) in Q2 2025, and exceeded the provided $(0.01) consensus estimate.
- Litigation Funding Remains Secured
- Management said the $24.2 million deposited with its bank for the BlueRadios-related letter of credit remains classified as restricted cash; the associated supersedeas bond was $23.0 million.
- Remediation Plan Is Underway
- Management stated that remediation activities for the identified internal-control weaknesses are ongoing under Audit Committee oversight, although the weaknesses continued as of June 27, 2026.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Material Control Weaknesses Persist
- Disclosure controls were not effective as of June 27, 2026 because material weaknesses continued in IT general controls, period-end reporting, revenue-cycle controls, and controls over significant unusual transactions. The filing says there were 4 categories of control deficiencies described as material weaknesses.
- BlueRadios Appeal Adds Litigation Risk
- The BlueRadios appellate brief seeks to affirm the approximately $19.7 million judgment and reverse portions of the decision denying additional damages, injunctive relief, and unpaid retainer claims. The company reported no change to the corresponding legal accrual as of June 27, 2026.
- Restricted Cash Constrains Liquidity
- The company has $24.2 million classified as restricted cash supporting a $23.0 million supersedeas bond, limiting liquidity while the BlueRadios appeal proceeds. The filing states the bank may use the $23.0 million to satisfy the letter of credit if it is called.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.0
What they said about what is next.
The provided 10-Q text does not include explicit quantitative revenue or EPS guidance; the prior Q2 revenue outlook was approximately $15.0 million, but no updated outlook is disclosed here.
The filing reads about the same as the one before it.
What came before.
- 10-Q · May 12, 2026
- Kopin Corporation reported Q1 2026 revenues of $10.55 million, slightly above the previous year's $10.54 million, while its EPS was -$0.01, matching consensus estimates. The company experienced a notable decrease in…
- 10-K · April 13, 2026
- Kopin reports Total Revenues of $39,324,000 for fiscal 2025, down from $50,335,000 in 2024, driven by a decline in defense product sales. The company is pivoting from component sales toward integrated headsets and ASOS,…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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