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Sep 28, 2024
Kopin Q3 2024 Earnings Report
Kopin reported a revenue increase of 26% year-over-year, driven by strong growth in defense and industrial sectors.
Key Takeaways
Kopin Corporation reported a 26% increase in revenue for Q3 2024, reaching $13.3 million. The growth was primarily driven by a surge in defense product revenues, which increased by 109% year-over-year. The company is focused on application-specific optical solutions, particularly in the defense sector, and anticipates achieving double-digit revenue growth for 2024.
Revenue for Q3 2024 reached $13.3 million, a 26% increase year-over-year.
Defense product revenues increased by 109% year-over-year.
Industrial revenues grew by 58% year-over-year.
Net loss for the third quarter of 2024 was ($3.5) million, or ($0.03) per share.
Kopin
Kopin
Forward Guidance
Kopin anticipates double-digit revenue growth for 2024.
Positive Outlook
- Order pipeline represents multi-million-dollar annual production revenue potential.
- Improved gross margins are expected due to additional value captured.
- Favorable end-market mix is expected.
- Continued production efficiencies are expected through yield improvements.
- Reduced material cost is expected.