Thursday, July 7, 2022

Kopin Corporation (NASDAQ:KOPN) Wearables Play Breaking Out

Kopin Corporation (NASDAQ:KOPN) is a small-cap play in the wearables space that is breaking out higher in Tuesday’s action. The catalyst appears to be the company’s announcement that it has entered into a strategic relationship with Goertek Inc., a leading innovative global technology company headquartered in Weifang China that provides vertically integrated total solutions and services to globally-renowned companies such as Samsung, Sony, Microsoft, Huawei and Xiaomi to name a few.

According to this morning’s release, “Under the terms of the stock sale agreement, Kopin will sell 7,339,000 shares of Kopin’s common stock to Goertek for US $23,851,750 ($3.25 per share). This represents approximately 9.8% of Kopin’s total outstanding shares of common stock. In addition Kopin and Goertek have entered into agreements to jointly develop and commercialize a range of technologies and wearable products. The goal of the partnership is to utilize Goertek’s industry-leading expertise in design and manufacturing to further develop and sell a range of wearable products incorporating Kopin technologies and components.”

Kopin Corporation (NASDAQ:KOPN) trumpets itself as a company that invents, develops, manufactures, and sells wearable technologies and display products in the United States, the Asia-Pacific, and Europe.

The company offers Kopin Wearable technology that includes component technologies, which can be integrated to create products and proprietary headset systems, which use voice as the primary user interface and through the use of wireless technologies can contact other users, devices, or information from the cloud.

It also provides principal display products, a miniature high density color or monochrome active matrix liquid crystal displays; CyberDisplay products, a single crystal silicon used in conventional integrated circuits; optical lenses and backlights; and whisper chip to enhance the performance of existing audio systems and speech recognition engines.

The company’s display products are used in military, consumer, electronic, and industrial products, such as thermal weapon sights, digital cameras, virtual and augmented reality gaming, training and simulation products, and metrology tools. It sells its components directly and through distributors to original equipment manufacturers; and military display products directly to prime contractors of the United States government or to foreign companies.

Kopin Corporation was founded in 1984 and is headquartered Westborough, Massachusetts.

According to company materials, “Kopin Corporation is a leading developer and provider of innovative wearable technologies and solutions for integration into head-worn computing and display systems to military, industrial and consumer customers. Kopin’s technology portfolio includes ultra-small displays, optics, speech enhancement technology, system and hands-free control software, low-power ASICs, and ergonomically designed smart headset reference systems. Kopin’s proprietary components and technology are protected by more than 300 global patents and patents pending.”

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“Our partnership with Goertek will enable Kopin to leverage their world class capabilities to commercialize our innovative components and further improve our system products,” said Dr. John C.C. Fan, Kopin’s President and CEO. “In addition to our transmissive and reflective LCD products, we have developed our industry-leading Whisper® Voice Chip and most recently announced our OLED LightningTM microdisplay with 2048 x 2048 resolution with unique Pantile™ Optics which we will demonstrate at CES 2017 this week. We will work with Goertek to incorporate our Whisper Voice Chip and Lightning display into the product designs Goertek provides to its customers. We will also work closely with Goertek to develop system products for consumer mobile augmented reality (AR) and virtual reality (VR) markets.”

“We are excited with this strategic relationship with Kopin which has innovative technologies and products,” said Long Jiang, Goertek’s CEO. “Goertek is the world’s leading designer and manufacturer of VR/AR and other wearable products. This partnership with Kopin will enable us to provide our customers and partners with cutting edge technologies and products for better performance and designs in the fast growing wearable market.”

The chart shows 32% piled on for shareholders of the listing during the trailing month. This is emblematic of the stock. KOPN has evidenced sudden upward volatility on many prior occasions. In addition, the stock has benefitted from a jump in recent trading volume to the tune of nearly 110% beyond its prior sustained average level.

At this time, carrying a capital value in the market of $214.3M, KOPN has a significant war chest ($84M) of cash on the books, which compares with about $12.9M in total current liabilities.

KOPN is pulling in trailing 12-month revenues of $20.9M. However, the company is seeing declines on the top line on a quarterly y/y basis, with revenues falling at -27.6%. This may be a very interesting story going forward, and we will be on the watch for new catalysts and update it again soon. For continuing coverage on shares of $KOPN stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

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