Kopin Corporation (KOPN) Financial Statements (2024 and earlier)

Company Profile

Business Address 125 NORTH DRIVE
WESTBOROUGH, MA 01581
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 3674 - Semiconductors and Related Devices (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments17,40312,64829,29520,74921,78237,244
Cash and cash equivalents5,7118,25926,78817,1136,02914,326
Short-term investments11,6924,3892,5083,63615,75322,918
Other undisclosed cash, cash equivalents, and short-term investments      
Restricted cash and investments500     
Receivables9,7066,53812,1139,2616,0233,088
Inventory, net of allowances, customer advances and progress billings7,6026,4266,5814,4563,7694,797
Inventory7,6026,4266,5814,4563,7694,797
Prepaid expense86105161206104400
Contract with customer, asset, after allowance for credit loss3,4104,068    
Other undisclosed current assets1,1251,0754,0574,7852,0863,874
Total current assets:39,83130,86152,20839,45633,76549,404
Noncurrent Assets
Operating lease, right-of-use asset2,5053,1693,8281,7802,754
Property, plant and equipment2,1631,8321,8891,6271,4732,599
Long-term investments and receivables4,6897,721    
Long-term investments4,6897,721    
Intangible assets, net (including goodwill)    (2,500)(2,500)(2,169)
Goodwill      331
Intangible assets, net (excluding goodwill)    (2,500)(2,500)(2,500)
Other noncurrent assets1251701711625171,649
Deferred tax assets, net546
Other undisclosed noncurrent assets   4,9127,0247,0377,519
Total noncurrent assets:9,48212,89110,8008,0939,28210,145
TOTAL ASSETS:49,31243,75263,00847,54943,04759,549
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities13,43112,2569,6179,9028,9469,432
Employee-related liabilities2,4141,9782,2043,038
Accounts payable7,0775,4395,4845,6073,9983,922
Accrued liabilities6,3546,8171,7202,3172,7442,473
Deferred revenue917931  797
Debt     1,042 
Estimated litigation liability      
Deferred tax liabilities546
Contract with customer, liability389
Other undisclosed current liabilities1,5311,2707,9166,980525 
Total current liabilities:15,87814,45717,53316,88311,31010,367
Noncurrent Liabilities
Long-term debt and lease obligation:   3,1088211,792 
Liabilities, other than long-term debt, including:3,6284,2012,7401,5471,0851,198
Deferred revenue236  7
Contract with customer, liability17
Asset retirement obligations278248289276268254
Other liabilities1,4941,3702,4511,270  
Operating lease, liability1,8332,5773,1088211,792
Other undisclosed liabilities, other than long-term debt     810926
Other undisclosed noncurrent liabilities2971,104  268271
Total noncurrent liabilities:3,9255,3055,8482,3683,1451,469
Total liabilities:19,80319,76223,38119,25114,45511,836
Equity
Equity, attributable to parent29,50924,16339,79928,43528,60947,862
Common stock1,123930901880870785
Treasury stock, value(103)(103)(366)(9,794)(17,239)(17,239)
Additional paid in capital385,412360,568356,931341,513344,457334,491
Accumulated other comprehensive income1,2321,1761,4141,4841,7571,555
Accumulated deficit(358,155)(338,407)(319,081)(305,648)(301,237)(271,731)
Equity, attributable to noncontrolling interest  (173)(172)(137)(17)(149)
Total equity:29,50923,99139,62728,29928,59247,713
TOTAL LIABILITIES AND EQUITY:49,31243,75263,00847,54943,04759,549

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues1,88847,40145,66640,12829,51924,465
Revenue from related parties1,6654,4192,6785,7791,221
Net investment income8307731133  
Cost of revenue(1,144)(2,079)(588)(21,398)(22,866)(20,972)
Cost of goods and services sold(1,144)(2,079)(588)(21,398)(20,902)(15,831)
Gross profit:74445,32245,07818,7306,6533,493
Operating expenses(57,572)(69,191)(59,441)(44,891)(33,033)(43,459)
Other undisclosed operating income39,6502,07958821,398  
Operating loss:(17,178)(21,790)(13,775)(4,763)(26,380)(39,967)
Nonoperating income (expense)(2,415)2,608436361(2,887)5,514
Investment income, nonoperating(3,327)2,700 (29)544640
Gain (loss), foreign currency transaction, before tax  139294  
Other nonoperating income (expense)245154266(35)226855
Loss from continuing operations before income taxes:(19,592)(19,182)(13,339)(4,402)(29,266)(34,452)
Income tax expense (benefit)(156)(144)(129)(129)10830
Loss from continuing operations:(19,748)(19,326)(13,468)(4,531)(29,158)(34,422)
Loss before gain (loss) on sale of properties:(13,468)(4,531)(29,158)(34,422)
Other undisclosed net loss     (216)(60)
Net loss:(19,748)(19,326)(13,468)(4,531)(29,374)(34,482)
Net income (loss) attributable to noncontrolling interest  035120(132)(51)
Net loss available to common stockholders, diluted:(19,748)(19,326)(13,433)(4,411)(29,506)(34,534)

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net loss:(19,748)(19,326)(13,468)(4,531)(29,374)(34,482)
Other comprehensive income (loss)56(238)(70)(273)203(2,128)
Comprehensive loss:(19,692)(19,565)(13,538)(4,804)(29,172)(36,610)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest  035120(132)67
Comprehensive loss, net of tax, attributable to parent:(19,692)(19,564)(13,503)(4,684)(29,304)(36,544)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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