Kopin Receives Second Production Order for Wearable Surgical Information Display

WESTBOROUGH, Mass.--(BUSINESS WIRE)--Sep 12, 2024--

Kopin Corporation (NASDAQ: KOPN ) a leading provider of application-specific optical solutions and high performance microdisplays for defense, enterprise, consumer and medical products, announced today that it has received a second production order for the CR3 wearable surgical monitor from HMDmd, Inc.

The CR3 is a lightweight, ergonomic head-mounted display (“HMD”) that provides 3-D imagery in full-HD resolution, while also being 4K video compatible. The CR3 is configured for use with 2-D and 3-D endoscopes and microscopes and is plug-in compatible with other surgical systems.

“This second production order is a direct result of the positive feedback we received from the surgical equipment manufacturers who evaluated the CR3 HMD,” said Bill Maffucci, Kopin's Senior VP of Business Development and Strategy. “We anticipate adoption rates to accelerate as more surgeons have the opportunity to evaluate the CR3.”

The CR3 enables surgeons to maintain a constant high-resolution video of the surgical field while also being able to maintain full visual access to the operating room via a unique “look-down” capability. The CR3 also minimizes weight on the surgeon’s head and is extremely well-balanced to minimize head and neck strain.

"In terms of functionality, the CR3 is a massive leap forward,” said John Lyon, CEO of HMDmd. “We see the HMD being particularly beneficial for surgical use-cases in microscopy, minimally invasive surgery, digital and robotic surgery and interventional medicine. The feedback from surgeons and surgical equipment manufacturers has been very positive, and we are expanding marketing and business development activities with prospective distribution partners.”

With over 189,000 operating rooms in U.S. hospitals and ambulatory service centers, and an additional 115,000 in Europe and Asia, the total market opportunity is estimated by HMDmd to grow to exceed 750,000 HMDs worldwide. With modest growth assumptions the 2029 HMD delivery opportunity is anticipated to achieve upwards of 150,000 units.

About Kopin

Kopin Corporation is a leading developer and provider of innovative display, and optical technologies 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.

About HMDmd, Inc.

HMDmd, based in Solana Beach, CA, is entirely focused on providing high-performance wearable display systems for surgery, interventional medicine and other medical specialties and applications. The Company's business model is to provide customized, medical grade headsets to be integrated as the display component of proprietary systems commercialized by strategic distribution partners. For further information see www.hmdmd.com or contact John Lyon, CEO: john.lyon@hmdmd.com.

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. 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. These forward-looking statements include our expectation adoption rates of the CR3 to accelerate as more surgeons have the opportunity to evaluate the CR3. 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 30, 2023, or as updated from time to time our Securities and Exchange Commission filings.

View source version on businesswire.com:https://www.businesswire.com/news/home/20240912484964/en/

CONTACT: Kopin Corporation

Bill Maffucci, 508-870-5959

SVP of Business Development and Strategy,

bmaffucci@kopin.comRichard Sneider, 508-870-5959

Treasurer and Chief Financial Officer

Richard_Sneider@kopin.com orMZ Contact:

Brian M. Prenoveau, CFA, 561 489 5315

MZ Group – MZ North America

KOPIN@mzgroup.usHMDmd Inc

John Lyon, 760-518-1132

CEO

John.lyon@hmdms.com

KEYWORD: CALIFORNIA MASSACHUSETTS UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: OPTICAL HARDWARE SURGERY HEALTH MEDICAL DEVICES HEALTH TECHNOLOGY WEARABLES/MOBILE TECHNOLOGY TECHNOLOGY

SOURCE: Kopin Corporation

Copyright Business Wire 2024.