Form 8-K

8-K — KOPIN CORP

Accession: 0001493152-26-013055

Filed: 2026-03-27

Period: 2026-03-27

CIK: 0000771266

SIC: 3674 (SEMICONDUCTORS & RELATED DEVICES)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

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UNITED

STATES

SECURITIES

AND EXCHANGE COMMISSION

WASHINGTON,

DC 20549

FORM

8-K

CURRENT

REPORT

Pursuant

to Section 13 or 15(d) of the

Securities

Exchange Act of 1934

Date

of Report (Date of Earliest Event Reported) March 27, 2026

KOPIN

CORPORATION

(Exact

Name of Registrant as Specified in Charter)

Delaware

000-19882

04-2833935

(State

or Other Jurisdiction

Incorporation)

(Commission

File

Number)

(IRS

Employer

Identification

No.)

125

North Drive, Westborough, MA 01581

(Address

of Principal Executive Offices) (Zip Code)

(508)

870-5959

(Registrant’s

telephone number, including area code)

N/A

(Former

name or former address, if changed since last report)

Check

the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under

any of the following provisions (see General Instruction A.2 below):

☐

Written

communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting

material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement

communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement

communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities

registered pursuant to Section 12(b) of the Act:

Title

of each class

Trading

Symbol

Name

of each exchange on which registered

Common

Stock, par value $0.01

KOPN

Nasdaq

Capital Market

Indicate

by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405

of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging

growth company ☐

an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying

with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item

2.02. Results of Operations and Financial Condition.

Kopin

Corporation (the “Company”) issued a press release on March 27, 2026, a copy of which is attached as Exhibit 99.1 to

this Current Report on Form 8-K and incorporated herein by reference, in which the Company announced the unaudited financial results

for the fourth quarter ending December 27, 2025. The information in this Item 2.02 (including Exhibit 99.1) shall not be

deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange

Act”) or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into

any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific

reference in such filing.

Item

9.01. Financial Statements and Exhibits.

(d)

Exhibits

See

the Exhibit Index below, which is incorporated by reference herein.

EXHIBIT

INDEX

Exhibit

Description

99.1

Press Release Dated March 27, 2026

104

Cover

Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant

to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by

the undersigned hereunto duly authorized.

KOPIN

CORPORATION

Dated:

March

27, 2026

/s/

Erich Manz

Erich

Manz

Treasurer

and Chief Financial Officer

(Principal

Financial and Accounting Officer)

EX-99.1

Filename: ex99-1.htm · Sequence: 2

Exhibit 99.1

Kopin

Corporation Reports Fourth Quarter 2025 Financial Results

Balance

Sheet Strengthened with $56 Million Capital Raise; Strategic Partnerships Advancing Key Defense Projects; Government Shutdown Delayed

Revenue Recognition on Select Orders Industrywide

WESTBOROUGH,

MA -- March 27, 2026 -- Kopin Corporation (Nasdaq: KOPN) (“Kopin” or the “Company”), a leading provider

of application-specific optical systems and high-performance microdisplays for defense, training, enterprise, industrial, consumer and

medical products, today announced preliminary unaudited financial results for its fourth quarter ended December 27, 2025.

Fourth

Quarter Financial Summary:

$ in millions

Q4 2025

Q4 2024

% Change

Total Revenues

$ 8.4

$ 14.6

(42 %)

Product Revenues

$ 5.6

$ 12.6

(56 %)

Non-Product Revenues *

$ 2.5

$ 1.7

47 %

Cost of Product Revenues

$ 4.7

$ 10.6

(56 %)

R&D Expenses

$ 3.5

$ 3.1

13 %

SG&A Expenses

$ 4.5

$ 3.1

45 %

*Non-Product

revenue consists of Funded R&D, Collaborative agreement, and Grant revenue streams

Fourth

Quarter 2025 & Subsequent Operational Highlights

●

Completed

$56 million private placement from strategic and institutional investors, fortifying the Company’s balance sheet to support

near-term growth.

●

Continued

to advance strategic partnership with Theon International, with sales commencing and aggressive 3-year strategic plan for revenue

and technology sharing underway across Europe, Southeast Asia, and NATO markets.

●

Continued

progress on Color MicroLED development for Soldier Borne Mission Systems with several prime contractor selections and critical technology

acquisition wins expected.

●

Maintained

strong pipeline with congressional budget demands through 2030 and indefinite demand, indefinite quantity (IDIQ) contracts providing

upside revenue flexibility.

●

Investments

in internal research and development delivered new technologies released to production driving new customer demand and adoption.

Several new products, in new markets, are expected to be announced, in 2026.

Management

Commentary

Michael

Murray, Chief Executive Officer of Kopin, said: “2025 was a transformative year for Kopin as we established critical strategic

partnerships, secured landmark defense program wins, and strengthened our balance sheet through a $56 million capital raise from strategic

and institutional investors. While fourth quarter revenues were impacted by the government shutdown and associated procurement delays,

our pipeline remains strong and I believe our strategic positioning has never been better. Our partnership with Theon International is

gaining traction across European, Southeast Asian, and NATO markets, and our defense programs continue to advance with congressional

budget support through 2030.

“Operationally,

our investments in automation are delivering healthy improvements in throughput, quality, and cost efficiency. The government shutdown

temporarily slowed procurement activity in Q4, and we anticipate some continued impact into Q1 2026. However, with our strengthened balance

sheet, expanded strategic partnerships, and growing defense program portfolio, we are well positioned to capitalize on the significant

opportunities ahead. As the sole source provider of microdisplays for several Department of War programs of record, and the only company

in the world producing four types of microdisplays, we enter 2026 with confidence in our ability to deliver meaningful revenue growth

as government operations and order flow normalize which we are experiencing now,” concluded Murray.

Fourth

Quarter 2025 Financial Results

Total

revenues for the fourth quarter ended December 27, 2025, were $8.4 million, as compared to $14.6 million for the fourth quarter ended

December 28, 2024. The year-over-year decrease in revenues was primarily attributable to the government shutdown and associated procurement

delays which impacted timing of expected program orders, product shipments and contract activity during the quarter.

Product

revenues for the fourth quarter were $5.6 million, as compared to $12.6 million in the year-ago period. The decrease was primarily due

to government shutdown-related delays in product orders that several of our end customers experienced, resulting in lower orders and

shipments of products for US defense applications. Standard Training and Simulation order flow which can ship within the same quarter

was seasonally lower than expected as well. Product order flow has since returned to anticipated levels while new European product orders

have exceeded forecast.

Non-Product

revenues were $2.5 million in the fourth quarter of 2025, as compared to $1.7 million in the fourth quarter of 2024. The increase was

primarily driven by the IBAS color MicroLED development program; however, revenue and research awards were lower due to delays. Several

of these new contracts have been awarded, with several others still expected.

Cost

of product revenues for the fourth quarter of 2025 was $4.7 million, or 83% of net product revenues, as compared with $10.6 million,

or 84% of net product revenues, for the fourth quarter of 2024. The decrease in cost of product revenue as a percentage of net product

revenues was primarily attributable to changes in product mix. Actions taken throughout the year with regards to quality, cost containment,

and automation allowed for similar results to the comparative period even with the reduced volume.

Research

and Development expenses for the fourth quarter of 2025 were $3.5 million, as compared to $3.1 million for the fourth quarter of 2024.

The increase was not material, and the company considers it to be within the range of normal quarterly fluctuations. The spending level

ensures continued investments in internally funded technology development, including new technology, process improvements, MicroLED advancements.

Selling,

General and Administration expenses were $4.5 million in the fourth quarter of 2025, as compared to $3.1 million in the fourth quarter

of 2024. The increase was primarily due to higher professional fees and outside service costs associated with the capital raise and strategic

partnership transactions completed during the quarter, partially offset by lower incentive compensation cost.

of December 27, 2025, the Company had cash and cash equivalents of $37.8 million. The bonded cash of $23.0 million is presented as a

long-term asset. As a result of the de-consolidation of Kopin Europe there was approximately $8M of cash that will not be shown within

the consolidated results. Our overall cash position has improved primarily driven by the completion of $56 million in private placements

from strategic and institutional investors.

All

amounts above are preliminary unaudited figures and readers should refer to the Company’s forthcoming Form 10-K for the year ending

December 27, 2025, for final disposition as well as important risk factors.

Earnings

Call and Webcast

Management

will host an investor conference call at 8:30 AM Eastern time today, Friday, March 27, 2026 to discuss the Company’s fourth quarter

2025 unaudited financial results, provide a corporate update, and conclude with Q&A from telephone participants.

The

Company’s 10-K filing with audited financial results is expected to be filed in the days following. To participate, please use

the following information:

2025 & Full Year Earnings Conference Call

Date:

Friday, March 27, 2026

Time:

8:30 AM Eastern time

U.S.

Dial-in: 1-800-225-9448

International:

1-203-518-9708

Conference ID: KOPIN

Webcast:

KOPN Q4 FY2025 Earnings Conference Call

Please

call the conference telephone number 5-10 minutes prior to the start time.

telephonic replay of the conference call will also be available through April 3, 2026. To listen, please call 1-844-512-2921 within the

United States and Canada or 1-412-317-6671 when calling internationally, using replay pin number 11161278. A webcast replay will also

be available using the webcast link above.

About

Kopin Corporation

Kopin

Corporation (Nasdaq: KOPN) is a leading developer and provider of innovative display and application-specific optical solutions sold

as critical components and subassemblies for defense, enterprise, professional and consumer products. Kopin’s portfolio includes

microdisplays, display modules, eyepiece assemblies, image projection modules and vehicle mounted and head-mounted display systems that

incorporate ultra-small high-resolution Active-Matrix Liquid Crystal displays (AMLCD), Ferroelectric Liquid Crystal on Silicon (FLCoS)

displays, MicroLED displays (µLED) and Organic Light Emitting Diode (OLED) displays, a variety of optics and low-power ASICs. For

more information, please visit Kopin’s website at www.kopin.com. Kopin is a trademark of Kopin Corporation.

us on LinkedIn, X and Facebook.

Forward-Looking

Statements

in this press release may be considered “forward-looking statements” within the meaning of Section 27A of the Securities

Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange

Act”), which are subject to the safe harbor created by such sections. Words such as “expects,” “believes,”

“can,” “will,” “estimates,” and variations of such words and similar expressions, and the negatives

thereof, are intended to identify such forward-looking statements. We caution readers not to place undue reliance on any such “forward-looking

statements,” which speak only as of the date made, and advise readers that these forward-looking statements are not guarantees

of future performance and involve certain risks, uncertainties, estimates, and assumptions by us that are difficult to predict. Various

factors, some of which are beyond our control, could cause actual results to differ materially from those expressed in, or implied by,

such forward-looking statements. All such forward-looking statements, whether written or oral, and whether made by us or on our behalf,

are expressly qualified by these cautionary statements and any other cautionary statements that may accompany the forward-looking statements.

In addition, we disclaim any obligation to update any forward-looking statements to reflect events or circumstances after the date of

this press release, except as may otherwise be required by the federal securities laws. These forward-looking statements are only predictions,

subject to risks and uncertainties, and actual results could differ materially from those discussed. Important factors that could affect

performance and cause results to differ materially from management’s expectations are described in Part I, Item 1A. Risk Factors;

Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations; and other parts of our

Annual Report on Form 10-K, as amended, for the fiscal year ended December 27, 2025, or as updated from time to time in our Securities

and Exchange Commission filings.

Corporate

Contact

Kopin

Corporation

Erich Manz, Chief Financial Officer

EManz@kopin.com

508-870-5959

Investor

Relations Contact

Lucas

A. Zimmerman

Group – MZ North America

KOPN@mzgroup.us

949-259-4987

Public

Relations Contact

Grace

Halvorsen

Lightspeed PR/M

Kopin@lightspeedpr.com

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