Kopin Corporation (NASDAQ:KOPN) Q1 2024 Earnings Conference Call May 14, 2024 8:30 AM ET

Company Participants

Brian Prenoveau - Investor Relations
Michael Murray - Chief Executive Officer
Richard Sneider - Chief Financial Officer

Conference Call Participants

Matt Sheerin - Stifel
Glenn Mattson - Ladenburg Thalmann
Kevin Dede - HC Wainright

Operator

Good morning, everyone and welcome to the Kopin Corporation First Quarter 2024 Earnings Call. Please note that this event is being recorded.

At this time, I'd like to turn the conference over to Brian Prenoveau, Investor Relations for Kopin. Please go ahead.

Brian Prenoveau

Thank you, operator, and good morning, everyone. Before we get started, I'd like to remind everyone that during today's call, taking place on Tuesday, May 14, 2024, we will be making forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on the company's current expectations, projections, beliefs and estimates and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those forward-looking statements.

Potential risks include, but are not limited to, demand for our products, operating results of our subsidiaries, market conditions and other factors discussed in the most recent annual report on Form 10-K and other documents filed with the Securities and Exchange Commission. Although the company believes that the assumptions underlying these statements are reasonable, any of them can be proven inaccurate, and there can be no assurances that the results will be realized. The company undertakes no obligation to update the forward-looking statements made during today's call.

In addition, references may be made to certain non-Generally Accepted Accounting Principles or non-GAAP measures, for which you should refer to the appropriate disclaimers and reconciliations in the company's SEC filings and press releases.

Kopin Corporation's Chief Executive Officer, Michael Murray will begin today's call with an overview of Kopin's progress within the company's strategy. Following Michael, Kopin's CFO, Richard Sneider, will review the company's first quarter 2024 financial results.

I would now like to turn the conference over to Michael Murray. Michael?

Michael Murray

Thank you, Brian. Good morning to everyone, and welcome to our first quarter 2024 earnings call. I'm going to spend much of the time on this call, updating you on the strong progress we've made operationally on our strategic initiatives, which are the most important parts of this call.

I'm very proud of the significant progress we continue to make in our transformation, including achieving our sixth consecutive positive book-to-bill quarter. We now have over $55 million in backlog for 2024 and beyond. Our new orders include repeat or follow-on orders from existing customers and programs and most importantly, very importantly, new orders from new customers, we are actively expanding our revenue and our customer base.