KOPIN CORPORATION Reports Q2 Earnings Results for Fiscal Year 2023
August 23, 2023
🌥️Earnings Overview
On August 10 2023, KOPIN CORPORATION ($NASDAQ:KOPN) reported their financial results for the second quarter of their fiscal year 2023, as of June 30 2023. Total revenue was USD 10.5 million, a decrease from the same period in the previous year by 12.2%. Net income was USD -8.2 million, a further decrease from the prior year’s figure of -5.6 million.
Market Price
KOPIN CORPORATION reported their second quarter earnings results for the fiscal year ending 2023 on Thursday. The company’s stock opened at $1.8 and closed at $1.8, indicating a flat performance for the period. KOPIN CORPORATION attributed the dip in revenues to market headwinds, which adversely impacted sales in the wearable devices segment. Overall, KOPIN CORPORATION reported mixed results for the quarter.
While revenues decreased due to external market factors, the company managed to improve its financial performance by controlling costs and increasing its gross profits. The company is now focused on maintaining its cost-control initiatives and continuing to drive efficiency while also attempting to increase sales in its wearable devices segment. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Kopin Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 45.13 | -23.12 | -48.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Kopin Corporation. More…
| Operations | Investing | Financing |
| -19.58 | -3.31 | 2.66 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Kopin Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 55.36 | 19.44 | 0.32 |
Key Ratios Snapshot
Some of the financial key ratios for Kopin Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 12.7% | – | -39.7% |
| FCF Margin | ROE | ROA |
| -44.5% | -28.4% | -20.2% |
Analysis
At GoodWhale, we have recently performed an analysis of KOPIN CORPORATION‘s financials. Based on our Risk Rating, we have assessed that KOPIN CORPORATION is a medium risk investment in terms of its financial and business aspects. In order to help people get a better understanding of the company’s financial health, we have identified two potential risk warnings in their income sheet and balance sheet. If you would like to learn more about these risk warnings and how they might affect KOPIN CORPORATION’s future performance, please register on goodwhale.com for more information. More…
Peers
The company’s products are used in a variety of applications, including video eyewear, head-mounted displays, and medical and military equipment. Kopin’s competitors include Vicor Corp, eMagin Corp, and RiTdisplay Corp.
– Vicor Corp ($NASDAQ:VICR)
Vicor Corporation is a leading provider of power solutions. The company’s products enable the efficient generation, distribution, and utilization of power in industrial, commercial, and military applications. Vicor’s innovative solutions are used in a variety of end markets, including aerospace and defense, data centers, electric vehicles, factory automation, medical equipment, renewable energy, and telecommunications. The company’s products are based on its proprietary Power-on-Package technology, which utilizes silicon-based electrical components to deliver power in a more efficient and compact form factor than traditional power solutions.
Vicor’s market cap as of 2022 is 2.59B. The company has a Return on Equity of 4.77%. Vicor’s products enable the efficient generation, distribution, and utilization of power in industrial, commercial, and military applications. The company’s innovative solutions are used in a variety of end markets, including aerospace and defense, data centers, electric vehicles, factory automation, medical equipment, renewable energy, and telecommunications.
– eMagin Corp ($NYSEAM:EMAN)
eMagin Corporation designs, develops, manufactures, and markets OLED-on-silicon microdisplays and virtual imaging products primarily in North America, Europe, and Asia. The company offers miniature displays that utilize OLED technology for use in near-eye imaging applications, including military, industrial, medical, and consumer products. Its microdisplays provide a high contrast ratio, a wide field of view, a large eyebox, and a low power consumption. The company provides its displays to original equipment manufacturers for incorporation into various virtual imaging systems, including head-mounted displays for military, industrial, and medical applications; augmented reality systems for military, industrial, and medical applications; heads-up displays for military aircraft; night vision goggles; thermal weapon sights; simulation and training systems; and consumer electronic devices, such as video eyewear and head-mounted displays. eMagin Corporation was founded in 1996 and is headquartered in Bellevue, Washington.
– RiTdisplay Corp ($TWSE:8104)
RiTdisplay Corp is a company that manufactures and sells display products. The company has a market cap of 2.52B as of 2022 and a Return on Equity of 4.63%. RiTdisplay Corp’s products include LCDs, OLEDs, and other display technologies. The company’s products are used in a variety of applications, including mobile devices, computers, and television displays.
Summary
KOPIN CORPORATION reported disappointing earnings results for the second quarter of 2023, with total revenue dropping 12.2% year over year to 10.5 million USD and net income of -8.2 million USD, a decrease from -5.6 million USD in the same period of the prior year. Investors should be aware of these results when considering an investment in the company. With the current outlook, it is important to analyze the long-term prospects of the company before investing. Furthermore, investors should pay close attention to future earnings results in order to determine how the company will perform going forward.
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