Kopin Receives $20.5M Contract for New Thermal Weapon Sight Configuration

Kopin Corporation (NASDAQ: KOPN) a leading provider of application-specific optical solutions and high performance micro-displays for defense, enterprise, consumer and medical products, today announced it received an approximate $20.5 million contract for a new weapon sight eyepiece configuration.

Under the terms of the contract, Kopin is authorized to procure up to approximately $9 million of materials until the new weapon sight eyepiece configuration is fully qualified at which time the remaining contract balance will become effective, subject to standard government provisions. The new weapon sight eyepiece configuration is scheduled for deliveries in 2024 and 2025.

The weapon sight eyepieces, which includes Kopin's proprietary high-brightness microdisplay and custom-designed Pancake® optics, are critical components provided to a Department of Defense prime contractor that integrates the eyepiece into a sophisticated video "see through" augmented reality ("AR") weapon system.

The additional demand for Kopin's existing eye piece and new configuration could more than triple its thermal weapon sight production volumes in fiscal year 2024, as compared to 2023 production.

"Our customer's willingness to start procurement prior to final qualification is a testament to Kopin's optical expertise, customer responsiveness and reliability in delivering weapon sights and targeting products of the highest quality," said Bill Maffucci, Kopin's Vice President of Business Development and Strategy.

Michael Murray, Kopin's Chief Executive Officer stated, "This contract is another milestone in our transformation to become a world-class developer and manufacturer of application-specific optical solutions. We start 2024 with a strong orderbook and this order strengthens our foundation for significant revenue and profitable growth."