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Side-by-side financial comparison of KOPIN CORP (KOPN) and SWK Holdings Corp (SWKH). Click either name above to swap in a different company.
SWK Holdings Corp is the larger business by last-quarter revenue ($8.7M vs $8.4M, roughly 1.0× KOPIN CORP). On growth, SWK Holdings Corp posted the faster year-over-year revenue change (-29.7% vs -42.9%). Over the past eight quarters, KOPIN CORP's revenue compounded faster (-8.7% CAGR vs -12.5%).
The Kopin Corporation is a Westborough, Massachusetts-based electronics manufacturer, best known for its microdisplay devices and application specific optical solutions for defense, enterprise, medical and consumer mobile electronics.
SWK Holdings Corp is a specialty finance firm focused on the healthcare and life sciences sectors. It provides tailored financing solutions including royalty monetization, structured debt, and asset-backed lending to biotech, pharmaceutical, medical device and diagnostic companies, with its core market centered in North America.
KOPN vs SWKH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $8.4M | $8.7M |
| Net Profit | $6.8M | $-19.4M |
| Gross Margin | — | — |
| Operating Margin | -60.0% | 9.9% |
| Net Margin | 81.3% | — |
| Revenue YoY | -42.9% | -29.7% |
| Net Profit YoY | 449.5% | -430.2% |
| EPS (diluted) | $0.04 | $-1.59 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $8.4M | $8.7M | ||
| Q3 25 | $12.0M | $10.9M | ||
| Q2 25 | $8.5M | $10.1M | ||
| Q1 25 | $10.5M | $11.8M | ||
| Q4 24 | $14.6M | $12.4M | ||
| Q3 24 | $13.3M | $10.4M | ||
| Q2 24 | $12.3M | $10.8M | ||
| Q1 24 | $10.0M | $11.4M |
| Q4 25 | $6.8M | $-19.4M | ||
| Q3 25 | $4.1M | $8.8M | ||
| Q2 25 | $-5.2M | $3.5M | ||
| Q1 25 | $-3.1M | $4.5M | ||
| Q4 24 | $-1.9M | $5.9M | ||
| Q3 24 | $-3.5M | $3.5M | ||
| Q2 24 | $-5.9M | $3.7M | ||
| Q1 24 | $-32.5M | $468.0K |
| Q4 25 | -60.0% | 9.9% | ||
| Q3 25 | 37.9% | 61.3% | ||
| Q2 25 | -64.6% | 46.1% | ||
| Q1 25 | -37.1% | 68.6% | ||
| Q4 24 | -15.1% | 44.7% | ||
| Q3 24 | -21.0% | 39.2% | ||
| Q2 24 | -44.2% | 8.3% | ||
| Q1 24 | -325.4% | 9.5% |
| Q4 25 | 81.3% | — | ||
| Q3 25 | 34.1% | 80.7% | ||
| Q2 25 | -61.1% | 35.2% | ||
| Q1 25 | -29.5% | 38.4% | ||
| Q4 24 | -13.3% | 47.5% | ||
| Q3 24 | -26.0% | 33.3% | ||
| Q2 24 | -48.0% | 33.9% | ||
| Q1 24 | -324.4% | 4.1% |
| Q4 25 | $0.04 | $-1.59 | ||
| Q3 25 | $0.02 | $0.72 | ||
| Q2 25 | $-0.03 | $0.29 | ||
| Q1 25 | $-0.02 | $0.37 | ||
| Q4 24 | $0.02 | $0.47 | ||
| Q3 24 | $-0.03 | $0.28 | ||
| Q2 24 | $-0.05 | $0.30 | ||
| Q1 24 | $-0.27 | $0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $36.4M | $42.8M |
| Total DebtLower is stronger | — | $33.0M |
| Stockholders' EquityBook value | $64.1M | $235.1M |
| Total Assets | $108.4M | $272.4M |
| Debt / EquityLower = less leverage | — | 0.14× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $36.4M | $42.8M | ||
| Q3 25 | $26.5M | $10.2M | ||
| Q2 25 | $26.8M | $8.0M | ||
| Q1 25 | $31.5M | $29.8M | ||
| Q4 24 | $35.6M | $5.9M | ||
| Q3 24 | $36.2M | $17.2M | ||
| Q2 24 | $17.6M | $5.5M | ||
| Q1 24 | $21.1M | $5.5M |
| Q4 25 | — | $33.0M | ||
| Q3 25 | — | $33.0M | ||
| Q2 25 | — | $33.0M | ||
| Q1 25 | — | $33.0M | ||
| Q4 24 | — | $33.0M | ||
| Q3 24 | — | $33.0M | ||
| Q2 24 | — | $33.0M | ||
| Q1 24 | — | $33.0M |
| Q4 25 | $64.1M | $235.1M | ||
| Q3 25 | $21.3M | $254.2M | ||
| Q2 25 | $16.0M | $246.5M | ||
| Q1 25 | $20.7M | $292.7M | ||
| Q4 24 | $23.3M | $288.7M | ||
| Q3 24 | $22.7M | $283.4M | ||
| Q2 24 | $-216.3K | $282.8M | ||
| Q1 24 | $4.9M | $279.9M |
| Q4 25 | $108.4M | $272.4M | ||
| Q3 25 | $61.2M | $289.4M | ||
| Q2 25 | $61.2M | $285.7M | ||
| Q1 25 | $65.0M | $331.3M | ||
| Q4 24 | $70.8M | $332.2M | ||
| Q3 24 | $70.6M | $321.3M | ||
| Q2 24 | $49.0M | $321.0M | ||
| Q1 24 | $51.3M | $322.0M |
| Q4 25 | — | 0.14× | ||
| Q3 25 | — | 0.13× | ||
| Q2 25 | — | 0.13× | ||
| Q1 25 | — | 0.11× | ||
| Q4 24 | — | 0.11× | ||
| Q3 24 | — | 0.12× | ||
| Q2 24 | — | 0.12× | ||
| Q1 24 | — | 0.12× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-7.9M | $27.3M |
| Free Cash FlowOCF − Capex | — | $26.8M |
| FCF MarginFCF / Revenue | — | 308.1% |
| Capex IntensityCapex / Revenue | — | 5.9% |
| Cash ConversionOCF / Net Profit | -1.15× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $43.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-7.9M | $27.3M | ||
| Q3 25 | $-110.4K | $906.0K | ||
| Q2 25 | $-4.2M | $7.8M | ||
| Q1 25 | $-3.4M | $8.3M | ||
| Q4 24 | $-1.6M | $23.0M | ||
| Q3 24 | $-6.5M | $6.3M | ||
| Q2 24 | $-3.1M | $5.4M | ||
| Q1 24 | $-3.1M | $4.4M |
| Q4 25 | — | $26.8M | ||
| Q3 25 | — | $557.0K | ||
| Q2 25 | $-4.9M | $7.7M | ||
| Q1 25 | $-3.9M | $8.2M | ||
| Q4 24 | $-2.1M | $22.9M | ||
| Q3 24 | $-6.5M | $6.3M | ||
| Q2 24 | $-3.1M | $5.4M | ||
| Q1 24 | $-3.4M | — |
| Q4 25 | — | 308.1% | ||
| Q3 25 | — | 5.1% | ||
| Q2 25 | -57.9% | 77.0% | ||
| Q1 25 | -37.1% | 69.1% | ||
| Q4 24 | -14.2% | 185.3% | ||
| Q3 24 | -48.6% | 60.4% | ||
| Q2 24 | -25.5% | 49.7% | ||
| Q1 24 | -33.4% | — |
| Q4 25 | — | 5.9% | ||
| Q3 25 | — | 3.2% | ||
| Q2 25 | 8.7% | 0.6% | ||
| Q1 25 | 4.7% | 0.8% | ||
| Q4 24 | 3.4% | 1.1% | ||
| Q3 24 | 0.1% | 0.3% | ||
| Q2 24 | 0.5% | 0.2% | ||
| Q1 24 | 2.4% | 0.0% |
| Q4 25 | -1.15× | — | ||
| Q3 25 | -0.03× | 0.10× | ||
| Q2 25 | — | 2.21× | ||
| Q1 25 | — | 1.82× | ||
| Q4 24 | — | 3.93× | ||
| Q3 24 | — | 1.82× | ||
| Q2 24 | — | 1.47× | ||
| Q1 24 | — | 9.47× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KOPN
| Net Product Revenues | $5.6M | 67% |
| Other | $2.7M | 33% |
SWKH
| Finance Receivables Segment | $8.4M | 96% |
| Other | $329.0K | 4% |
