Kopin Corporation (NASDAQ:KOPN) Q2 2024 Results Conference Call August 8, 2024 8:30 AM ET

Company Participants

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

Conference Call Participants

Jaeson Schmidt - Lake Street
Glenn Mattson - Ladenburg Thalmann
Victor Santiago - Stifel
Kevin Dede - HC Wainright
Jeffrey Bernstein - Silverberg Bernstein Capital

Operator

Good morning, everyone, and welcome to the Kopin Corporation Second Quarter 2024 Earnings Call. [Operator Instructions].

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

Brian Prenoveau

Thank you, Cindy. Good morning, everyone. Before we get started, I'd like to remind everyone that during today's call, taking place on Thursday, August 8, 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 our 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 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 second quarter 2024 financial results. I would now like to turn the call over to Michael Murray. Michael?

Michael Murray

Thank you, Brian. Good morning to everyone, and welcome to our second quarter 2024 earnings call. I'm going to spend much of the time on this call updating you on the strong progress we made operationally on our strategic initiatives. I am very proud of the significant progress we are making on our transformation plan. We have received over $55 million in orders for 2024 and beyond, including repeat or follow-on orders from our existing customers, and programs and importantly, orders from new customers within the U.S. and now Europe, which demonstrates that we are actively expanding our revenue and customer base. The second quarter was highlighted by continued sales momentum with $12.3 million in revenue. Notably, our products for defense applications delivered year-over-year growth of 106% to $10.4 million. This progress has been validated and validating our strategy to reset the course within Kopin to focus on defense products that we began last year.