Q3 2024 Kopin Corp Earnings Call Transcript
Key Points
- Kopin Corp (KOPN) achieved a 26% increase in revenue for Q3 2024 compared to Q3 2023, reaching $13.3 million.
- The company reported a significant 109% year-over-year increase in defense product revenue, totaling $10.4 million.
- Kopin Corp (KOPN) secured over $75 million in orders for 2024 and beyond, potentially the highest annual order total in its history.
- The company reached a final production qualification milestone for its OLED on silicon display for the F-35 helmet mounted display system.
- Kopin Corp (KOPN) launched its next-generation SXK FLK Micro display system, positioning itself well in the growing global 3D AOI market.
- The net loss for Q3 2024 was $3.5 million, compared to a net loss of $2.5 million in Q3 2023.
- Funded research and development revenues decreased by $2.7 million compared to Q3 2023.
- SG&A expenses increased to $5.2 million in Q3 2024 from $4.8 million in Q3 2023, primarily due to higher legal fees.
- The book-to-bill ratio for Q3 was slightly below 1 to 1, indicating a potential imbalance between orders received and fulfilled.
- Legal expenses related to ongoing litigation were significant, with $1.5 million incurred in Q3 2024.
(Music Playing) But your program is about to begin. Should you require operator assistance during today's program? Please press zero, good morning, everyone and welcome to the Kopin Corporation third quarter, 2024 earnings call.
Please note that this event is being recorded at this time. I would like to turn the conference over to Brian Prenoveau, new investor relations for Kopin. Please go ahead.
Thank you, operator and good morning, everyone before we get started, I'd like to remind everyone that during today's call taking place on Tuesday, November 12, 2024.
We will be making forward-looking statements as defined in the private Securities Litigation Reform Act of 1995.
These statements are based on the company's current expectations, projections, beliefs and estimates and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those forward-looking statements.
Potential risks include but are not limited to demand for our
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