Kopin Q1 revenue flat at $10.6M; announces $15M Fabric.AI collaboration and $21.5M defense contract

KOPIN CORP

• Q1 total revenues $10.6M (flat YoY); product revenues down 41% to $5.4M; non-product revenues up 292% to $5.2M.
• Strategic collaboration with Fabric.AI for Neural I/o optical interconnect; $15M initial order and 19.9% equity stake.
• Secured $21.5M follow-on thermal imaging production contract from major U.S. defense prime.
• Entered FPV drone market with $3.2M Sentinel FPV order; potential 40k goggles by 2028.
• Cash and cash equivalents $34.1M; total liquidity $59.5M including $25.3M restricted for litigation appeal.

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