Kopin Corp (KOPN) Q2 2024 Earnings Call Highlights: Strong Defense Growth and Strategic Advances

GuruFocus.com10-10

Total Revenue: $12.3 million, an 18% increase year over year. Product Revenue: $11.1 million, up from $6 million in the prior year. Defense Product Revenue: Increased by $5.4 million year over year. ...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nKopin Corp (KOPN) Q2 2024 Earnings Call Highlights: Strong Defense Growth and Strategic Advances\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-10 05:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/kopin-corp-kopn-q2-2024-213459586.html><strong>GuruFocus.com</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Total Revenue: $12.3 million, an 18% increase year over year.\nProduct Revenue: $11.1 million, up from $6 million in the prior year.\nDefense Product Revenue: Increased by $5.4 million year over year.\n...</p>\n\n<a href=\"https://finance.yahoo.com/news/kopin-corp-kopn-q2-2024-213459586.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"KOPN","symbol_name":"高平电子","start_time":0,"source_url":"https://finance.yahoo.com/news/kopin-corp-kopn-q2-2024-213459586.html","article_id":"2474880797","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/2NvhwwcURrFR0Rm.BTawvw--~B/aD0zMDA7dz0zMDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/us.finance.gurufocus/ff629bd86ce3a41e1b427cbb92780e57"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2474880797","pubTimestamp":1728509699,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Total Revenue: $12.3 million, an 18% increase year over year.Product Revenue: $11.1 million, up from $6 million in the prior year.Defense Product Revenue: Increased by $5.4 million year over year.Funded R&D Revenue: $1.2 million, a decrease of $2.7 million from the previous year.Cost of Product Revenue: $8.7 million, 79% of product revenues, down from 95% in the prior year.Gross Margin Improvement: Approximately $1.3 million due to lower estimated rework costs.R&D Expenses: $1.8 million, down from $3.1 million in the previous year.SG&A Expenses: $7.3 million, up from $6.5 million in the prior year.Net Loss: $5.9 million or $0.05 per share, compared to a net loss of $8.2 million or $0.07 per share in the prior year.GuruFocus has detected 4 Warning Signs with KOPN.Kopin Corp  has a strong opportunity pipeline valued at over $500 million, with $350 million in the defense market.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"KOPN":"高平电子"},"translate_title":"Kopin Corp(KOPN)2024年第二季度收益看涨期权亮点：强劲的国防增长和战略进步","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"KOPN":1},"content_text":"Total Revenue: $12.3 million, an 18% increase year over year.\nProduct Revenue: $11.1 million, up from $6 million in the prior year.\nDefense Product Revenue: Increased by $5.4 million year over year.\nFunded R&D Revenue: $1.2 million, a decrease of $2.7 million from the previous year.\nCost of Product Revenue: $8.7 million, 79% of product revenues, down from 95% in the prior year.\nGross Margin Improvement: Approximately $1.3 million due to lower estimated rework costs.\nR&D Expenses: $1.8 million, down from $3.1 million in the previous year.\nSG&A Expenses: $7.3 million, up from $6.5 million in the prior year.\nNet Loss: $5.9 million or $0.05 per share, compared to a net loss of $8.2 million or $0.07 per share in the prior year.\n\n\nWarning! GuruFocus has detected 4 Warning Signs with KOPN.\n\nRelease Date: August 08, 2024\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.\n Positive Points \n\nKopin Corp (NASDAQ:KOPN) received over $55 million in orders for 2024 and beyond, including new customers from the US and Europe, indicating an expanding revenue and customer base.\nThe company reported $12.3 million in revenue for Q2 2024, with defense applications showing a year-over-year growth of 106% to $10.4 million.\nIncoming inspection rates at top customers improved to 97%, positively impacting product gross margins.\nKopin Corp (NASDAQ:KOPN) has a strong opportunity pipeline valued at over $500 million, with $350 million in the defense market.\nThe company is making progress on its strategic initiatives, including the development of advanced display technologies for defense and consumer applications.\n\n Negative Points \n\nFunded research and development revenues decreased by $2.7 million in Q2 2024 compared to Q2 2023 due to the completion of several programs.\nSG&A expenses increased to $7.3 million in Q2 2024 from $6.5 million in Q2 2023, primarily due to higher legal fees.\nThe net loss for Q2 2024 was $5.9 million, although this was an improvement from the $8.2 million loss in Q2 2023.\nThe consumer segment is expected to remain minimal throughout the year, with limited revenue contribution.\nThe geopolitical issues in China and Korea have negatively impacted the 3D AOI market, which remains de minimis for Kopin Corp (NASDAQ:KOPN).\n\n Q & A Highlights \nQ: Was the strong defense revenue growth in Q2 driven by specific programs or was it broad-based? A: Michael Murray, President and CEO, explained that the growth was broad-based across the defense market, including thermal weapon programs, projectile thermal imagers, and eyepieces for rotary and fixed-wing orders. There is also increased interest from European companies and customers.\nQ: How should we expect gross margins to trend for the rest of the year? A: Richard Sneider, CFO, indicated that gross margins should continue to trend upwards. The improvement is due to better quality and lower rework costs, which have positively impacted margins.\nQ: Can you provide an update on the IVAS strategy and any feedback from testing? A: Michael Murray stated that they are working with partners like Wilcox Industries and the US Army to productize the IVAS technology. They expect production to begin in 2025, with immediate revenue potential as the technology integrates with existing soldier equipment.\nQ: What is the status of the armored vehicle program and its potential for consumer applications? A: Michael Murray noted that while the SEP 4 upgrade was canceled, Kopin's weapon sight program will continue. They have received interest from electric vehicle manufacturers for their automotive-qualified liquid crystal on silicon device, which could be used in consumer applications.\nQ: What is the outlook for the 3D AOI market, and are there any new developments? A: Michael Murray mentioned that geopolitical issues have impacted the 3D AOI market, but they expect a marginal rebound. They are also working on a new, lower-cost product to gain traction and see some uptick in Europe.\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.This article first appeared on \nGuruFocus.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2474880797"}