Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data KOPIN CORP files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
22.6
27.8
24.5
29.5
40.1
45.7
47.4
40.4
50.3
39.3
Cost of revenue
17.8
18.1
15.8
20.9
21.4
Gross profit
4.83
9.72
8.63
8.62
18.7
Research and development
15.3
15.5
12.6
9.13
3.92
6.31
8.39
3.6
5.83
6.69
Selling, general and administrative
17
20.5
27.2
21.3
11.8
18.1
18
21.8
22.8
16.3
Operating expenses
64.4
55.9
44.9
59.4
69.2
57.6
93.4
49.2
Operating income
-20.5
-30.3
-40
-26.4
-4.76
-13.8
-21.8
-17.2
-43.1
-9.85
Interest income
0.66
0.78
0.64
0.54
Other non-operating income
0.57
1.95
5.51
-2.89
0.36
0.44
2.61
-2.41
-0.6
12.7
Pre-tax income
-19.9
-28.3
-34.5
-29.3
-4.4
-13.3
-19.2
-19.6
-43.7
2.81
Income tax
-3.13
2.96
0.03
0.11
0.13
0.13
0.14
0.16
0.17
0.21
Net income to minority interests
0.54
-0.14
0.05
0.13
-0.12
-0.04
-0
Net income
-23.6
-25.2
-34.5
-29.5
-4.41
-13.4
-19.3
-19.7
-43.9
2.61
EBITDA
-19.5
-29.4
-39
-25.6
-4.11
-13.1
-21.1
-16.6
-42.5
-9.02
EPS, basic
-0.37
-0.36
-0.47
-0.37
-0.05
-0.15
-0.21
-0.18
-0.33
0.01
EPS, diluted
-0.37
-0.36
-0.47
-0.37
-0.05
-0.15
-0.21
-0.18
-0.33
0.01
Shares, basic (weighted)
64
69.9
73.2
80.3
82.3
88.8
91.4
109
133
171
Shares, diluted (weighted)
64
69.9
73.2
80.3
82.3
88.8
91.4
109
133
175
Balance sheet
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
15.8
24.8
14.3
6.03
17.1
26.8
8.26
5.71
14.2
36.4
Short-term investments
61.4
43.9
22.9
15.8
3.64
2.51
4.39
11.7
21.4
Receivables
1.66
3.96
3.09
6.02
9.26
12.1
6.54
9.7
11.9
10.7
Inventory
3.3
5.08
4.8
3.77
4.46
6.58
6.43
7.6
6.13
5.51
Other current assets
0.85
0.98
0.78
1.16
1.26
1.76
1.07
1.21
1.15
2.86
Total current assets
83.4
79.7
49.4
33.8
39.5
52.2
30.9
39.8
62.8
91.8
Property, plant and equipment
2.98
5.08
2.6
1.47
1.63
1.89
1.83
2.16
2.1
2.62
Lease right-of-use assets
0
2.75
1.78
3.83
3.17
2.5
2.13
1.49
Goodwill
0.84
1.78
0.33
0
0
0
Intangible assets
0
0.88
0
Other non-current assets
0.62
3.84
1.36
0.52
0.16
0.17
0.17
0.12
0.12
0.12
Total assets
87.8
91.3
59.5
43
47.5
63
43.8
49.3
70.8
108
Accounts payable
4.36
4.92
3.92
4
5.61
5.48
5.44
4.95
5.94
5.32
Accrued liabilities
1.44
1.64
3.04
2.2
1.98
2.41
Deferred revenue
1.18
0.39
0.8
1.49
4.06
0.93
0.9
0.09
1.17
Total current liabilities
13.4
12.1
10.4
11.3
16.9
17.5
14.5
15.9
43.9
34
Lease liabilities
0
1.79
0.82
3.11
2.58
1.83
1.48
0.83
Other non-current liabilities
1.09
1.27
1.3
1.37
1.49
1.47
1.71
Total liabilities
13.6
13.9
11.8
14.5
19.3
23.4
19.8
19.8
47.5
36.7
Paid-in capital
329
330
334
344
342
357
361
385
422
463
Retained earnings
-214
-240
-272
-301
-306
-319
-338
-358
-402
-399
Treasury stock
-42.7
-17.2
-17.2
-17.2
-9.79
-0.37
-0.1
-0.1
-0.37
-1.39
Other comprehensive income
1.57
3.56
1.55
1.76
1.48
1.41
1.18
1.23
2.03
Shareholders' equity
74.1
76.8
47.9
28.6
28.4
39.8
24.2
29.5
23.3
64.1
Minority interests
0.14
0.62
-0.15
-0.02
-0.14
-0.17
-0.17
Total equity
74.2
77.4
47.7
28.6
28.3
39.6
24
29.5
23.3
64.1
Total liabilities and equity
87.8
91.3
59.5
43
47.5
63
43.8
49.3
70.8
108
Shares outstanding
64.5
73.1
74
82.5
85.4
90
92.9
112
156
177
Cash flow statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-23
-25.4
-34.5
-29.4
-4.53
-13.5
-19.3
-19.7
-43.9
2.61
Depreciation and amortization
1
0.9
1
0.8
0.65
0.67
0.72
0.61
0.64
0.83
Stock-based compensation
2.43
2.3
4.79
2.06
0.82
4.42
1.27
3.88
3.33
3.03
Deferred income tax
1.44
-2.4
0
0.11
0.12
Change in receivables
-0.04
-2.38
0.85
-3.94
-2.95
-3.36
6.81
-5.27
-1.58
0.9
Change in inventory
-1.53
-1.63
-1.66
-0.79
-1.33
-2.73
-2.01
-2.26
-0.92
-1.45
Change in payables
1.16
1.92
-1.21
-0.16
5.23
0.14
-3.86
1.84
3.57
-7.09
Cash from operations
-26.2
-25.9
-28.1
-21
-4.42
-10.7
-17.7
-15.3
-14.2
-15.5
Capital expenditures
-0.39
-2.79
-1.18
-0.17
-0.54
-1.03
-0.83
-0.95
-0.82
-1.44
Purchases of investments
-8.11
-19.6
-5.7
0
-4
-17.6
-19.2
-15.2
Sales and maturities of investments
50.8
37.5
26.6
7.45
12.1
1.1
2
10.4
9.71
36.4
Cash from investing
22.8
11.3
18.8
4.74
11.8
0.05
-3.31
-8.14
-10.3
18
Stock issued
0
0
8.04
4.15
2.4
21.3
33.9
Share buybacks
0
Dividends paid
0
-0.79
Cash from financing
-0.51
23.1
-0.91
7.99
3.69
20.4
2.66
21.3
33.5
44
Exchange rate effect
-0.09
0.56
-0.27
-0.01
Net change in cash
-3.95
9.03
-10.5
-8.3
11.1
9.68
-18.5
-2.05
9
46.4
Free cash flow
-26.6
-28.7
-29.3
-21.2
-4.96
-11.8
-18.5
-16.2
-15
-17
Income taxes paid
0.72
0.28
1.37
0
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 27, 2026; growth uses fiscal years. Valuation uses the share price of $4.99 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Operating margin
-22.9%
Operating income / revenue.
EBITDA margin
-21.0%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
13.8%
Pre-tax income / revenue.
Net margin
18.3%
Net income / revenue.
Operating cash flow margin
-30.1%
Cash from operations / revenue.
Effective tax rate
-32.0%
Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)
11.5%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
7.5%
Net income / average total assets.
Return on invested capital (ROIC)
-17.8%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue
11.3%
Research and development expense / revenue.
SG&A / revenue
40.9%
Selling, general and administrative expense / revenue.
Stock-based pay / revenue
6.8%
Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue
1.9%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-21.9%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-6.0%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
-0.4%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
175.4%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
38.4%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y
17.7%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
53.2%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
35.3%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
17.9%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
31.8%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
24.2%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
16.3%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
2.18x
Current assets / current liabilities.
Quick ratio
0.98x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.68x
(Cash + short-term investments) / current liabilities.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$0.23
Revenue / diluted weighted shares.
Operating cash flow per share
-$0.07
Cash from operations / diluted weighted shares.
Book value per share
$0.38
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/E
116x
Market cap / net income. Only when net income is positive.
P/S
21.3x
Market cap / revenue.
P/B
13.4x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
13.4x
Market cap / tangible book value, when positive.
EV/Sales
20.7x
Enterprise value / revenue.
Earnings yield
0.9%
Net income / market cap (the inverse of P/E).
What was KOPIN CORP's revenue in fiscal 2025?
KOPIN CORP reported revenue of $39.3M for fiscal 2025, 21.9% lower than the year before.
Was KOPIN CORP profitable in fiscal 2025?
Yes. Net income was $2.6M, a net margin of 6.6%.
How much free cash flow did KOPIN CORP generate in fiscal 2025?
Cash from operations of $15.5M minus capital expenditures of $1.4M left free cash flow of -$17.0M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.