KOPIN CORP
For the period ended Dec 27, 2025. Filed Apr 13, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Apr 13, 2026
KOPN$3.32-1.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Fiscal year ended | 2025 | 2024 |
|---|---|---|
| Cash flows from operating activities: | ||
| Net income (loss) | $2,606,549 | $(43,877,896) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
| Depreciation and amortization | 829,554 | 636,580 |
| Stock-based compensation | 3,032,295 | 3,334,671 |
| Non-cash (gain) loss on equity investments | (161,406) | 1,612,105 |
| Gain on sale of equity investment | (300,000) | — |
| Gain on deconsolidation of subsidiary | (11,102,779) | — |
| Income taxes | 208,912 | 170,642 |
| Foreign currency gains | (326,085) | (207,926) |
| Loss on disposal of property and equipment | 88,236 | 59,151 |
| Provision for credit losses | 10,000 | 105,842 |
| Noncash provision for excess inventory | 968,116 | 2,378,675 |
| Accrued litigation damages | (5,100,000) | 24,800,000 |
| Changes in assets and liabilities, net of deconsolidation of subsidiary: | ||
| Accounts receivable | 896,158 | (1,578,548) |
| Contract assets | 942,197 | (3,917,280) |
| Inventory | (1,454,761) | (922,589) |
| Prepaid expenses and other current assets | (1,721,805) | 53,610 |
| Other assets | (240,646) | — |
| Accounts payable and accrued expenses | (7,089,164) | 3,574,948 |
| Accrued warranty | (1,388,951) | 396,451 |
| Contract liabilities | 3,765,094 | (845,041) |
| Net cash used in operating activities | (15,538,486) | (14,226,605) |
| Cash flows from investing activities: | ||
| Proceeds from sale of marketable securities | 36,380,280 | 9,713,366 |
| Proceeds from sale of equity investment | 300,000 | — |
| Other assets | — | (45) |
| Capital expenditures | (1,437,339) | (815,299) |
| Deconsolidation of subsidiary cash | (419,383) | — |
| Payments to equity method investee | (1,667,439) | |
| Purchases of marketable securities | (15,156,585) | (19,186,857) |
| Net cash used in investing activities | 17,999,534 | (10,288,835) |
| Cash flows from financing activities: | ||
| Issuance of common stock and pre-funded warrants, net of costs | 38,271,148 | 33,782,712 |
| Issuance of preferred stock, net of costs | 6,700,000 | — |
| Settlements of restricted stock for tax withholding obligations | (1,019,163) | (266,885) |
| Net cash provided by financing activities | 43,951,985 | 33,515,827 |
| Effect of exchange rate changes on cash | 3,993 | (952) |
| Net change in cash, cash equivalents and restricted cash | 46,417,026 | 8,999,435 |
| Cash, cash equivalents and restricted cash at beginning of year | 15,210,120 | 6,210,685 |
| Cash, cash equivalents and restricted cash at end of year | $61,627,146 | $15,210,120 |
| Supplemental disclosure of cash flow information: | ||
| Construction in progress included in accrued expenses | $3,600 | $17,000 |
| Right-of-use asset obtained in exchange for lease liability | — | 217,046 |
| Interest paid, net of amounts capitalized | — | — |
| Cash paid for income taxes | — | — |
| Accrued dividends | 28,000 | — |
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