KOPIN CORP
For the period ended Dec 28, 2024. Filed Apr 17, 2025.
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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.
FY2024 · Filed Apr 17, 2025
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 | 2024 | 2023 | 2022 |
|---|---|---|---|
| Cash flows from operating activities: | |||
| Net loss | $(43,877,896) | $(19,748,219) | $(19,326,265) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation and amortization | 636,580 | 608,222 | 722,024 |
| Accretion of discount on marketable securities | — | — | 128 |
| Stock-based compensation | 3,334,671 | 3,875,273 | 1,267,705 |
| Net loss (gain) on remeasurement of investments | 1,612,105 | 2,887,893 | (2,700,000) |
| Income taxes | 170,642 | — | 143,345 |
| Foreign currency losses | (207,926) | 91,791 | 449,443 |
| Loss on sale of property and equipment | 59,151 | 46,231 | 317,032 |
| Provision for credit losses | 105,842 | 709,721 | 162,638 |
| Noncash provision for excess inventory | 2,378,675 | 1,143,622 | 2,078,750 |
| Accrued litigation damages | 24,800,000 | — | — |
| Changes in other non-cash items | 396,451 | 193,708 | 2,329,000 |
| Changes in assets and liabilities: | |||
| Accounts receivable | (1,578,548) | (5,271,763) | 6,806,578 |
| Contract assets | (3,917,280) | 821,094 | (1,835,518) |
| Inventory | (922,589) | (2,255,352) | (2,010,749) |
| Prepaid expenses, other current assets and other assets | 53,610 | (202,504) | 908,156 |
| Accounts payable and accrued expenses | 3,574,948 | 1,836,038 | (3,859,768) |
| Contract liabilities and billings in excess of revenue earned | (845,041) | 3,568 | (3,139,749) |
| Net cash used in operating activities | (14,226,605) | (15,260,677) | (17,687,250) |
| Cash flows from investing activities: | |||
| Proceeds from sale of marketable securities | 9,713,366 | 10,374,593 | 2,000,024 |
| Purchase of equity investments | — | — | (499,998) |
| Other assets | (45) | 62,694 | 20,909 |
| Capital expenditures | (815,299) | (949,487) | (832,712) |
| Purchases of marketable securities | (19,186,857) | (17,624,779) | (4,000,042) |
| Net cash used in investing activities | (10,288,835) | (8,136,979) | (3,311,819) |
| Cash flows from financing activities: | |||
| (Purchase) sale of treasury stock, net of costs | — | — | 461,723 |
| Issuance of common stock and pre-funded warrants, net of costs | 33,782,712 | 21,335,000 | 2,397,618 |
| Settlements of restricted stock for tax withholding obligations | (266,885) | — | (198,740) |
| Net cash provided by financing activities | 33,515,827 | 21,335,000 | 2,660,601 |
| Effect of exchange rate changes on cash | (952) | 14,463 | (190,585) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 8,999,435 | (2,048,193) | (18,529,053) |
| Cash and cash equivalents at beginning of year | 6,210,685 | 8,258,878 | 26,787,931 |
| Cash, cash equivalents and restricted cash at end of year | $15,210,120 | $6,210,685 | $8,258,878 |
| Supplemental disclosure of cash flow information: | |||
| Construction in progress included in accrued expenses | $17,000 | $200,000 | $168,000 |
| Right-of-use asset obtained in exchange for lease liability | 217,046 | — | — |
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