Monitor the ramp of the Fabric.AI collaboration and subsequent defense contract conversions into revenue. The AI interconnect opportunity could re-rate the stock if development milestones are met, but weak product revenue and lack of earnings visibility warrant caution.
Price Chart
Executive Summary
Kopin reported Q1 2026 total revenue of $10.6M, flat YoY, with product revenue declining 41% to $5.4M offset by a 292% surge in non-product revenue to $5.1M from government awards and collaborations. The highlight is a strategic collaboration with Fabric.AI for AI optical interconnect technology, backed by a $15M initial order and a 19.9% equity stake, opening a new multi-billion-dollar addressable market. Despite no EPS or guidance provided, the contract wins and AI entry are notable but tempered by weak core product sales.
Key Financial Metrics
Key Facts
- Q1 2026 total revenue $10.6M vs $10.5M YoY (flat)
- Product revenue fell 41% to $5.4M; non-product revenue surged 292% to $5.1M
- Strategic collaboration with Fabric.AI for Neural I/O optical interconnects; $15M initial development order and 19.9% equity stake
- Post-quarter $21.5M follow-on thermal imaging production contract and $3.2M Sentinel FPV drone order
- Cash and equivalents $34.1M; total liquidity $59.5M including restricted cash
Financial Impact
No EPS or net income disclosed; revenue essentially flat; product revenue decline of 41% is significant but offset by non-product revenue growth.
Risk Factors
- Product revenue decline may signal competitive pressure or demand shifts in legacy segments
- Fabric.AI collaboration is early-stage with no guaranteed commercial success
- No EPS or forward guidance provided, limiting near-term catalyst clarity
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001493152-26-022462 |
| Document: form8-k.htm | 0001493152-26-022462 |
| Document: 0001493152-26-022462-index-headers.html | 0001493152-26-022462 |
| Document: 0001493152-26-022462-index.html | 0001493152-26-022462 |
| Document: 0001493152-26-022462.txt | 0001493152-26-022462 |
| 8-K Data (Synthetic) | 0001493152-26-022462 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 10, 2026 11w ago | 8-K | $5.20 $4.26 | ▲ +18.08% | ▲ +17.02% | $3.79 (+27.21%) |
Jun 18, 2026 18w ago | 8-K | $4.93 $3.69 | ▼ −25.15% | ▼ −25.69% | $3.79 (−23.23%) |
Jun 11, 2026 19w ago | Institutional Cluster | $5.13 $4.09 | ▼ −20.27% | ▼ −22.16% | $3.79 (−26.22%) |
Jun 11, 2026 19w ago | Institutional Cluster | $5.13 $4.09 | ▼ −20.27% | ▼ −22.16% | $3.79 (−26.22%) |
Jun 4, 2026 20w ago | 8-K | $6.39 $3.90 | ▼ −38.97% | ▼ −37.59% | $3.79 (−40.77%) |
Jun 1, 2026 21w ago | EFFECT | $5.77 $4.48 | ▼ −22.36% | ▼ −21.06% | $3.79 (−34.40%) |
May 28, 2026 21w ago | 8-K | $6.05 $3.82 | ▼ −36.86% | ▼ −33.71% | $3.79 (−37.44%) |
May 12, 2026 23w ago | 8-K | $5.35 $4.60 | ▼ −14.02% | ▼ −12.29% | $3.79 (−29.25%) |
Apr 13, 2026 28w ago | 144 | $2.72 $4.97 | ▲ +82.72% | ▲ +76.43% | $3.79 (+39.15%) |
US Market Status
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