Kopin Receives Contract Increase for U.S. Army’s Next-Generation Short-Range Interceptor (NGSRI) Visual Display Subsystem (VDS)

WESTBOROUGH, Mass.--(BUSINESS WIRE)--Kopin Corporation (NASDAQ: KOPN), a leading provider of application-specific optical systems and high-performance microdisplays for defense, training, enterprise, industrial, consumer and medical products, today announced it has received a contract update for development Phase 2 of the Next-Generation Short-Range Interceptor (NGSRI) Visual Display Subsystem (VDS) from Lockheed Martin. As a global defense technology company driving innovation and advancing scientific discovery, Lockheed Martin accelerates the delivery of transformative technologies through 21st Century Security®.

The NGSRI program aims to advance the capabilities of short-range missile defense systems. This update funds the build and test of the new high-resolution VDS assembly that includes Kopin’s proprietary organic light emitting diode (OLED) microdisplay, drive electronics, and optical designs for integration into the Command Launch Assembly (CLA)—a key system in the U.S. Army’s NGSRI initiative.

Under the Phase 2 contract update, Kopin will deliver fully assembled “All-Up Round” units—VDS assemblies for use in a variety of simulated and operational missile launch test scenarios.

“We are very pleased to have received the Phase 2 award for this critical program,” said Bill Maffucci, Kopin’s Senior Vice President of Business Development and Strategy. “We believe Kopin’s high-performance VDS assemblies offers an ideal solution for advanced missile systems and look forward to supporting the continued success of the NGSRI program.”

Forward Looking Statements

Statements in this press release may be considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which are subject to the safe harbor created by such sections. Words such as “expects,” “believes,” “can,” “will,” “estimates,” and variations of such words and similar expressions, and the negatives thereof, are intended to identify such forward-looking statements. We caution readers not to place undue reliance on any such “forward-looking statements,” which speak only as of the date made, and advise readers that these forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties, estimates, and assumptions by us that are difficult to predict. These forward-looking statements may include statements with respect to our belief that Kopin’s high-performance VDS assemblies offers an ideal solution for advanced missile systems and look forward to supporting the continued success of the NGSRI program . Various factors, some of which are beyond our control, could cause actual results to differ materially from those expressed in, or implied by, such forward-looking statements. All such forward-looking statements, whether written or oral, and whether made by us or on our behalf, are expressly qualified by these cautionary statements and any other cautionary statements that may accompany the forward-looking statements. In addition, we disclaim any obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release, except as may otherwise be required by the federal securities laws. These forward-looking statements are only predictions, subject to risks and uncertainties, and actual results could differ materially from those discussed. Important factors that could affect performance and cause results to differ materially from management’s expectations are described in Part I, Item 1A. Risk Factors; Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations; and other parts of our Annual Report on Form 10-K for the fiscal year ended December 28, 2024, or as updated from time to time by our Securities and Exchange Commission filings.

About Kopin

Kopin Corporation is a leading developer and provider of innovative display, and application-specific optical solutions sold as critical components and subassemblies for defense, enterprise, professional and consumer products. Kopin’s portfolio includes microdisplays, display modules, eyepiece assemblies, image projection modules, and vehicle mounted and head-mounted display systems that incorporate ultra-small high-resolution Active Matrix Liquid Crystal displays (AMLCD), Ferroelectric Liquid Crystal on Silicon (FLCoS) displays, MicroLED displays (µLED) and Organic Light Emitting Diode (OLED) displays, a variety of optics, and low-power ASICs. For more information, please visit Kopin’s website at www.kopin.com. Kopin is a trademark of Kopin Corporation.

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