KOPN — what changed in the latest 10-Q
A section-by-section comparison of KOPN's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-05-12 vs the prior 10-Q · 2025-11-12
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +28 | −39 | ~7 | 5 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 0 |
| Controls & procedures | Text added/removed | +4 | −3 | ~1 | 3 |
| Legal proceedings | Text added/removed | +5 | −2 | ~2 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-05-12
Sales of our products for Defense applications include systems used by the military both in the field and for training and simulation. Sales of our products for Defense applications may be for a one-time purchase or for programs that run for several years. Revenues from product sales to defense cust…
Industrial applications revenues represent customers who purchase our display products for use in headsets used for manufacturing, distribution, public safety, 3D metrology equipment and other industrial applications. Our 3D metrology customers are primarily located in Asia, and they sell to Asia-ba…
Sales of our displays for Consumer applications are primarily for use in thermal imaging products, recreational rifle and hand-held scopes.
R&D revenues increased slightly in the three months ended March 28, 2026 as compared to the three months ended March 29, 2025 primarily due to the timing of both starts of new programs and completion of our existing programs. This variance falls within the normal ebb and flow of funded programs. The…
The slight decrease in license and royalty revenue in the three months ended March 28, 2026 as compared to the three months ended March 29, 2025 is due to a decrease in royalties earned under IP license agreements for industrial wearable headsets.
Text removed vs the prior filing · source: 10-Q · 2025-11-12
Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended
Sales of our products for Defense applications include systems used by the military both in the field and for training and simulation. The decrease in Defense applications revenues in the three months ended September 27, 2025 as compared to the three months ended September 28, 2024 was primarily due…
Industrial applications revenue represents customers who purchase our display products for use in 3D automated optical inspection (“3DAOI”) equipment and head-mounted displays used for applications in public safety. The increase in Industrial applications revenues for the three and nine months ended…
Medical revenues in 2025 represent the initial shipments of a head-mounted medical product. There were minimal revenues from the sales of this product in the third quarter of 2025 as the products sold in the first six months of 2025 are being evaluated by ultimate customers.
Sales of our displays for Consumer applications are typically “one-off” purchases from companies or organizations using our products for research and development.
Controls & procedures
Text added vs the prior filing · source: 10-Q · 2026-05-12
● Management identified a material weakness in the Company’s internal control over financial reporting related to the design and operation of controls over the period-end financial reporting and disclosure process. Specifically, management did not design, implement, and maintain sufficiently precise…
● Management did not design and implement certain business process controls related to the revenue cycle, including appropriate controls over contract accounting reviews and completeness and accuracy of required disclosures.
● Management did not design and implement certain business process controls related to the accounting evaluation of significant unusual transactions and completeness and accuracy of required disclosures.
There were no changes in our internal control over financial reporting during the quarter ended March 28, 2026, that have materially affected or are reasonably likely to materially affect our internal control over financial reporting.
Text removed vs the prior filing · source: 10-Q · 2025-11-12
● Management did not design, implement and retain appropriate documentation of control procedures to achieve timely, complete and accurate recording and disclosures across multiple financial statement areas including accounting and disclosure of stockholder’s equity, share-based compensation, certai…
● Management did not design, implement and retain appropriate documentation of certain business process controls related to the revenue cycle, including insufficient review controls around completeness and accuracy of information produced by the entity including, certain costs incurred, estimates to…
Other than the changes discussed above in connection with the changes designed and implemented as a result of our remediation plan of the previously identified material weaknesses, there have been no changes in the Company’s internal control over financial reporting that occurred during the quarter …
Legal proceedings
Text added vs the prior filing · source: 10-Q · 2026-05-12
On Monday, April 22, 2024, after a four-week trial, a jury verdict was entered finding for BlueRadios and awarding approximately $5.1 million in damages as well as recommending $19.7 million in disgorgement and exemplary damages. On May 22, 2024, the Company filed its Motion for Judgment as a Matter…
On September 5, 2025, a post-trial order was entered in the U.S. District Court for the District of Colorado in the matter of BlueRadios, Inc. v. Kopin Corporation, Inc. finding for the plaintiff, BlueRadios, Inc. and awarding approximately $19.7 million in damages but denying a permanent injunction…
On September 26, 2025, the Company and its lawyers entered into a Mutual Release agreement (the “Release”) in which accrued legal expenses in connection with the BlueRadios litigation were resolved. The release reduced unpaid accrued legal expenses by $3.3 million to $1.9 million as of September 27,…
On October 2, 2025, the Company posted a supersedeas bond for $23.0 million which consisted of the $19.7 million judgement, legal expenses, and interest that would accrue over the expected term of the appeal. To post the bond the Company entered into loan agreements (the “Agreements”) with its bank …
On October 7, 2025, the Company filed an appeal for the $19.7 million judgement against the Company in connection with the BlueRadios litigation. As of December 27, 2025, the Company has accrued $19.7 million for the judgment within Accrued litigation liability and has accrued approximately $0.3 mil…
Text removed vs the prior filing · source: 10-Q · 2025-11-12
On October 11, 2016, the Company filed its Answer and Affirmative Defenses. The parties completed expert depositions on November 15, 2019. On July 30, 2019, the Court granted Kopin partial summary judgment on BlueRadios’ claim for breach of a contractual obligation to pay a $35,000 monthly retainer.…
On September 5, 2025, the Court entered final judgment against the Company, awarding approximately $19.7 million in damages but denying BlueRadios’ motion for a permanent injunction. The Company posted a supersedeas bond to stay execution on the judgment of $23 million. The Company has appealed to t…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice