Kopin Corporation reported total revenues of $10.5 million for the first quarter ended March 29, 2025, representing a 5% increase compared to $10.0 million in the prior year's first quarter. Product revenues increased by 2% year-over-year, with defense product revenues rising by $0.2 million, or 2.8%, driven by thermal weapon sights and pilot helmets.
The net loss attributable to Kopin Corporation for Q1 2025 was ($3.1) million, or ($0.02) per share, a substantial decrease from ($32.5) million, or ($0.27) per share, in Q1 2024. The prior year's quarter included a $24.8 million reserve for litigation damages, and the current quarter benefited from a $2.9 million decrease in legal fees.
Kopin received approximately $28 million in orders during Q1 2025, resulting in a 2.8:1 book-to-bill ratio, demonstrating strong demand for its application-specific optical solutions. The cost of product revenues as a percentage of net product revenues improved to 83% from 95% year-over-year, reflecting increased efficiencies and improved yields.
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