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17 Apr 25. Beamer Laser Marking Systems (“Beamer” or “the Company”), a trusted U.S.-based provider of industrial fiber and CO2 laser marking equipment for high-precision applications, today announced an exciting new phase for the Company. Following its recent acquisition by Fonon Quantum Technologies, Inc. (FQTI), operations are now fully integrated into a state-of-the-art facility in Orlando, Fla. This transformative move positions Beamer for accelerated growth and continued innovation, now as part of the FQTI family of high-tech companies.
“For our valued clients at Beamer, this integration with the FQTI powerhouse means an expanded world of possibilities,” said Matthew Kaczmarski, Senior Manager of Business Development at Beamer. “You can continue to rely on Beamer’s expertise and dedication, now backed by the extensive resources and diverse technology portfolio of the FQTI family. We are excited to offer you more comprehensive solutions and enhanced support.”
For Beamer customers, this integration represents access to a significantly broader portfolio of advanced laser technologies offered by the FQTI ecosystem. This includes solutions for laser cleaning, laser cutting, laser welding, and custom laser systems with trade-compliant components, all supported by the deep technical expertise and renowned service of FQTI and its subsidiaries: CMS Laser, Quantum Technology, Inc., Fonon DSS, Laser Photonics, and Fonon Technologies. This strategic alignment with FQTI will enable Beamer to leverage shared expertise in advanced laser technologies, leading to the development of cutting-edge applications and the delivery of more comprehensive solutions tailored to customer needs. Beamer remains dedicated to providing its industry-leading laser marking systems, including standard, custom-engineered, and inline solutions integrating the latest advancements in laser technologies and automation.
About Beamer Laser Marking Systems
Beamer Laser Marking Systems, now a proud member of the Fonon Quantum Technologies Inc. (FQTI) family, is a U.S.-based manufacturer specializing in industrial laser marking solutions for diverse sectors including medical, aerospace, defense, firearms, automotive, and general industrial markets. Renowned for its wide range of standard, engineered, and inline systems boasting an industry-leading 100,000+ hour lifespan, Beamer is a recognized leader in providing custom, turnkey laser-powered workstations and inline configurations for high-volume precision marking. The company prides itself on close collaboration with clients to develop tailored solutions, from proof of concept to final product delivery, featuring PLC controls, modular designs, robotics, automated motion, fume extraction, and advanced machine vision integration. Learn more at www.beamerlasermarking.com.
About Fonon Quantum Technologies, Inc.
Fonon Quantum Technologies Inc. (FQTI) is a diversified company specializing in advanced technologies and systems in quantum, defense, additive manufacturing, and semiconductor markets. With a strong foundation in R&D and equipment design, FQTI serves a wide array of industries through its subsidiaries: Fonon Technologies Inc., Fonon Media Corp., Quantum Technologies Inc., and Beamer Laser Marking Systems. Learn more at www.fonon.com. (Source: BUSINESS WIRE)
17 Apr 25. Kopin Corporation (Nasdaq: KOPN), a leading provider of application-specific optical solutions for defense, enterprise, industrial, and consumer products, today reported financial results for the fourth quarter and full fiscal year ended December 28, 2024.
Company Highlights
- 2024 revenue increased 24.6% to $50.3m compared to $40.4m in 2023
- 2024 product gross margin increased due to unit volume and fixed cost absorption
- 2024 bookings were a record at $46m
- Expect 2025 revenue between $52 to $55m
- ONE Kopin initiative was launched to reduce redundancies and direct resources to European and Southeast Asian defense opportunities
“We experienced significant growth in 2024 which we believe affirms our strategic transformation and focus on defense industries and technologies,” said Michael Murray, Kopin’s Chief Executive Officer. “Demand for microdisplays, optics and application-specific optical solutions continues to increase is the defense, medical and industrial markets.
“We start 2025 with a strong order book and a pipeline of revenue opportunities that should benefit the company over several years. Despite macroeconomic and geopolitical uncertainties, our recently announced orders provide us with confidence to deliver revenue between $52 to $55m in 2025. To support this increased demand and our profitability goals, we have embarked on an aggressive and ambitious, companywide automation plan to increase capacity, throughput, and efficiencies in our Westborough facility to allow for higher throughput, greater accuracy and less human interaction which can cause molecular debris in our assemblies. We believe this increased automation will also increase our gross margins as we become more efficient while reducing quality defects throughout our process.”
Mr. Murray concluded: “Our ONE Kopin initiative has continued to improve manufacturing efficiencies, reduce redundancies and integrate markets to better serve European and Southeast Asian defense markets. As geo-political risks continue to remain elevated, we believe we are well positioned to offer application-specific solutions for a variety of defense needs.”
Fourth Quarter Financial Results
Total revenues for the fourth quarter ended December 28, 2024, were $14.6m, compared to $8.6m for the fourth quarter ended December 30, 2023. Product revenues for the fourth quarter ended December 28, 2024, were $12.6m, compared to $6.8 m for the fourth quarter ended December 30, 2023. The increase in product revenues was a result of an increase in sales of product for thermal weapon sights partially offset by a decline in sales of products for pilot helmets. In the fourth quarter of 2023, we shut down manufacturing for a limited period of time which negatively impact sales in the year over year comparison. Cost of Product Revenues for the fourth quarter of 2024 was $10.6m, or 84% of net product revenues, compared with $7.2m, or 106% of net product revenues, for the fourth quarter of 2023.
R&D expenses for the fourth quarter of 2024 were $3.1 m compared to $2.2m for the fourth quarter of 2023. The increase in R&D expense is attributable to an increase in funded research and development expense and internal research and development expenses. Internal research and development expense increased due to transitioning to European organic light emitting diode foundry services.
SG&A expenses were $3.1 m for the fourth quarter of 2024, compared to $5.9m for the fourth quarter of 2023. The decrease was primarily due to a decrease in legal expenses related to litigation.
Net Loss Attributable to Kopin for the fourth quarter of 2024 was ($1.9)m, or ($0.01) per share, compared with Net Loss Attributable to Kopin of ($6.5)m, or ($0.06) per share, for the fourth quarter of 2023.
Full Year 2024 Financial Results
Total revenues for the year ended December 28, 2024, were $50.3m, compared to $40.4m for the year ended December 30, 2023. Product revenues for the year ended December 28, 2024, were $43.6m, compared to $25.9m for the year ended December 30, 2023. The increase in Product Revenues was primarily due to an increase in shipments of our products for thermal weapon sight applications that was partially offset by a decrease in sales of our products for defense pilot helmets. R&D revenues decreased in 2024 as compared to 2023 primarily due to decreased funding for display technology, armored vehicle targeting systems and other weapon system development for U.S. defense programs, and medical headset development.
Cost of Product Revenues for 2024 was $36.2m, or 83% of net product revenues, compared with $25.0m, or 96% of net product revenues in the prior year. Cost of product revenues decreased as a percentage of revenues in 2024 as compared to 2023 primarily due to increased unit volume of thermal weapon sights from higher sales in 2024 as compared to 2023 which resulted in a lower fixed overhead cost per unit. The margin improvement from thermal weapon sights was partially offset by lower margin contribution from industrial and training and simulation revenues due to their decline in sales.
R&D expenses for 2024 were $9.6 m compared to $10.8m for 2023, a 11% decrease year over year. The decrease in R&D expense as compared to the prior year was primarily due to the completion of contracts for defense programs awarded prior to 2024. Internal R&D expense for 2024 increased as compared to the prior year primarily due to increases in display development costs and costs incurred to establish European foundry services.
Selling, General and Administration (SG&A) expenses were $22.8m for 2024, compared to $21.8m for 2023. SG&A for 2024 increased as compared to 2023 primarily due to an increase of approximately $1.4 m in legal and professional fees and $0.2m in excise taxes, partially offset by $0.4m lower bad debt expense and $0.2m decrease in non-cash stock-based compensation.
Net Loss Attributable to Kopin Corporation for the year 2024 was $43.9m, or $0.33 per share, compared with Net Loss Attributable to Kopin Corporation of $19.7m, or $0.18 per share, for the year 2023.
Net Cash Used in Operating Activities for 2024 was approximately $14.2m. Kopin’s cash and equivalents and marketable securities were approximately $36.6m at December 28, 2024 as compared to $17.9 m at December 30, 2023.
Readers should refer to the Form 10-K for the fiscal year ended December 28, 2024, for important risk factors. (Source: BUSINESS WIRE)
17 Apr 25. AMD has successfully completed a deal establishing a new US subsidiary company, Advanced Material Development Inc (AMD Inc), to address the worldwide defence and aerospace markets. Based in Austin, Texas, the new company will be headed by Richard Lee as CEO and Prof Alan Dalton, AMD’s Chief Scientific Officer, both of whom have relocated to the US to launch the new business. AMD’s worldwide operations for its core non-defence markets will continue to be based in the UK. The new company brings in new board members with highly experienced C-Suite US nationals with strong industrial backgrounds, including Jeff Tschetter who will serve as Chairman of AMD Inc.
17 Apr 25. French underwater drone maker Exail’s order intake surges more than 500%. French high-tech industrial group Exail Technologies (EXA.PA) on Wednesday reported a 519% rise in its order intake in the first quarter of the year, driven by higher defence spending by European governments. The maker of underwater drones and navigation equipment said its order intake for the first quarter totalled 487m euros ($554.30m), boosted by a new contract for drone systems worth several hundred million euros. (Source: Reuters)
17 Apr 25. Rheinmetall sees order potential of up to $341bn, CEO tells Handelsblatt. Rheinmetall (RHMG.DE) could boost its order book to up to 300 bn euros ($341bn) by the end of the decade, its CEO said, boosted by Europe’s efforts to ramp up defence spending and create credible deterrence against Russia. Armin Papperger also told German business daily Handelsblatt that he was in touch with Volkswagen over its Osnabrueck plant, which could be repurposed to make defence equipment, but cautioned an agreement should not be expected soon. (Source: Reuters)
17 Apr 25. South Korea watchdog orders Hanwha Aerospace to resubmit share issue plan. South Korea’s financial watchdog ordered on Thursday Hanwha Aerospace (012450.KS) to submit another revision to its share issue plan, pushing back on the capital raising plans of the country’s largest defence contractor for a second time. The Financial Supervisory Service said in a stock exchange regulatory notice that Hanwha’s filing last week contained elements that could potentially cause significant investor misunderstanding or hinder investment decisions. The watchdog ordered a refiling within three months. (Source: Reuters)
15 Apr 25. Rheinmetall acquires Stascheit ammunition recovery company. The Düsseldorf based Technology Corporation Rheinmetall sealed the contract for acquiring the ammunition detection and recovery company Stascheit GmbH in Gardelegen/Saxony-Anhalt. In the future, the company will be a wholly-owned subsidiary of Rheinmetall Project Solutions GmbH within the Rheinmetall Group. The integration of Stascheit GmbH rounds off the comprehensive product port¬folio of Rheinmetall Project Solutions GmbH in the field of explosive ordnance disposal. Rheinmetall is aiming for an annual turnover of around €80m in the medium term from the purchase. The two companies have already successfully completed numerous projects together. These include the detection of unexploded ordnances in the North Sea, which proved particularly important during maintenance work on offshore wind farms. In addition, before the installation of subsea cables in the Baltic Sea and in Spain, the two firms successfully worked together at clearing munition-contaminated areas. Owner managed Stascheit’s core business activities include the detection, analysis, recovery, and disposal of explosive ordnances, as well as archaeological prospection and contaminated site investigations, along with all related services. These also encompass challenging diving and recovery operations. This strategic acquisition significantly expands and further enhances Rheinmetall’s product portfolio. Stascheit’s expertise in the disposal and removal of ammunition enables Rheinmetall Project Solutions GmbH to offer solutions from a single source and to better serve customer needs in the area of explosive ordnance disposal.
“With the acquisition of Stascheit GmbH, we are strengthening our position in the field of security-related solutions and expanding our portfolio with key capabilities”, says Dr Deniz Akitürk, Managing Director of Rheinmetall Project Solutions GmbH. “We look forward to working with Stascheit’s talented team and to provide mutual innovative solutions for our national and international customers.”
Rheinmetall Project Solutions GmbH will continue to rely on the successful cooperation with Stascheit in order to further optimise the efficiency and safety in ammunition disposal and thus make a valuable contribution to defence and security policy.
15 Apr 25. Mercury Systems, Inc. (NASDAQ: MRCY, www.mrcy.com), a technology company that delivers mission-critical processing power to the edge, today announced it has entered into a strategic supply agreement under which Cicor Group (SIX Swiss Exchange: CICN) will acquire a manufacturing operation in Plan-Les-Ouates, Switzerland, and supply Mercury with electronic products over the next five years. Mercury Mission Systems International S.A. is a leading provider of mission-critical processing products and solutions to the international aerospace and defense industry. In anticipation of increased European and global demand for commercial defense products, Mercury will transition its Swiss electronic board manufacturing operations to Cicor, the leading European manufacturer for aerospace and defense electronics. This will allow Mercury’s facilities in Switzerland, Spain, and the United Kingdom to focus on their core competencies of engineering design and systems integration, which is expected to drive the company’s continued success and next phase of growth in the international market. The transaction is expected to be completed within approximately one month, subject to customary closing conditions including end customer consents. Mercury and Cicor have jointly decided to relocate production to the Cicor sites in Newport, United Kingdom, and Bronschhofen, Switzerland, within the next 18 months. As part of the agreement, Mercury will purchase boards from Cicor, as well continue to source boards from Mercury’s U.S. operations, to ensure a robust supply chain. Both parties intend to further expand the strategic business relationship in the coming years.
“Mercury remains dedicated to delivering mission-critical processing capabilities to the European and global aerospace and defense sector,” said Paul Tanner, Vice President of Mercury International. “This agreement with Cicor will allow us to scale quickly to meet the growing demand for leading-edge commercial processing technologies around the world.”
08 Apr 25. Cobham Satcom announces acquisition by Solix Group to accelerate growth. Cobham Satcom enables secure SATCOM in remote locations across land and sea. The company is uniquely positioned to leverage growth opportunities, particularly within the global government, defense, and maritime industries. With new, strong ownership that brings valuable experience from other investments in the maritime and government markets, Cobham Satcom expects to continue and fast-track its growth strategy in the coming years. The transaction is subject to customary regulatory approvals and is expected to be completed within the calendar year, once these approvals have been obtained. This transaction will enable us to accelerate our strategy and continue to develop and deliver best-in-class connectivity and safety solutions to our global customer segments,” said Christophe Duret, CEO of Cobham Satcom. “Our capabilities and technology leadership within the maritime industry have been well established and recognized since the 1950s. In recent years, we have also demonstrated our ability to apply these competencies to develop new, critical market-leading SATCOM solutions for government and defense customers.” (Source: Satnews)
11 Apr 25. European defence sector: growing confidence in long-term potential. In today’s uncertain geopolitical environment, Europe is ramping up investment in defence capabilities, driven by both necessity and a renewed commitment to collective security. Defence spending across Europe has seen close to a decade of growth reaching €326bn in 2024 and is projected to increase by at least another €100bn by 2027. To further strengthen its defence capabilities, the European Commission has unveiled an €800bn financing plan, including a €150bn loan instrument targeting key defence technologies. As part of this push, the European Investment Bank (EIB) has expanded lending for defence projects, reinforcing a “Member State preference” approach by excluding non-EU defence companies from third countries unless their home countries sign defence and security pacts with Brussels. The EIB’s proposed fund for EU-only defence companies signals a significant policy shift toward reducing reliance on traditional partners and strengthening strategic autonomy. While the effects of limiting funding to EU firms are still uncertain, growing defence needs across the continent make broad European collaboration more important than ever. The surge in European capital allocation to the defence sector has not gone unnoticed by investors. Leading European defence companies recorded significant gains last month, reflecting growing confidence in the sector’s long-term potential. This momentum reflects a broader recognition that defence investment is a critical pillar of European security and economic resilience.
Evolving perspectives on defence and ESG
Once considered as incompatible with ESG, defence is now emerging as a dynamic sector and is reshaping the conversation around what ethical investment truly means. The European Commission itself has acknowledged this shift, noting in its recent policy paper that “investing in European defence means investing in lasting peace and long-term stability… but also boosting technological innovation, supporting European competitiveness, promoting regional development, and powering economic growth”.
Yet, this evolution is not without its challenges for the investment industry.
Constructing defence-focused portfolios demands careful navigation, particularly around the geopolitical implications and ethical sensitivities tied to controversial weapons. In Europe, several competent authorities have introduced restrictions that directly impact defence-related investments. For example, Italy’s Law No. 220 of 9 December 2021 enforces obligations under the Ottawa and Oslo Conventions and mandates that financial institutions operating in the banking, pension, insurance and financial sectors prohibit the financing of companies involved in antipersonnel mines, cluster munitions and submunitions. Luxembourg’s 2009 law implementing the Oslo Convention similarly prohibits investment in in manufacturers of banned munitions. Other Member States have enacted comparable legal frameworks, reinforcing the growing consensus around limiting exposure to such assets across the continent. These regulatory shifts are particularly important for investment funds with broad geographic exposure, especially those allocating to NATO and NATO+ companies which may not impose explicit bans on controversial weapons. Hanwha Aerospace Co., Ltd, for example, appears on the Nummus list of excluded issuers which serves as a key reference for identifying issuers that violate Italy’s Law 220/2021 and yet is still part of some UCITS defence-focused exchanged-traded funds (ETFs) currently in the market. Sanctions risk is another critical factor for defence investors. Turkey is the only NATO member currently subject to targeted US sanctions under the Countering America’s Adversaries Through Sanctions Act (CAATSA). These measures were introduced in response to Turkey’s purchase of Russian S-400 missile systems and serve as a reminder of the potential for jurisdictional challenges in certain defence-related investments. For investors in the defence sector, avoiding reputational and regulatory risk means going beyond broad exposure and taking a targeted, jurisdiction-aware approach. European defence companies not only offer strategic and potential financial advantages but also present a compelling opportunity for investors to support peace, stability, and democratic resilience, values at the core of sustainable investing.
Defence as a responsible investment consideration
European defence companies operate under some of the world’s most stringent regulatory frameworks, including ethical business practices and ESG standards. Additionally, these companies operate within jurisdictions that are signatories to the Treaty on the Non-Proliferation of Nuclear Weapons (NPT), ensuring alignment with global arms control standards. The ESG performance and business activities of the continent’s top defence companies are publicly available and can be independently verified via third-party sources such as the MSCI ESG Ratings tool which offers investors additional transparency and confidence in assessing a portfolio’s alignment with ESG criteria. According to the MSCI database, Sweden’s Saab AB and UK’s BAE Systems hold an AA MSCI ESG Rating, placing it in MSCI’s “Leader” category. This reflects strong performance in managing ESG risks and opportunities relative to global industry peers. Notably, both companies are assessed as having no involvement in controversial weapons, such as cluster munitions, landmines, or biological/chemical weapons banned under international conventions. This classification is consistent across their peers such as Italy’s Leonardo SpA and Germany’s Rheinmetall AG which are rated slightly lower but still above average and similarly listed as having no involvement in controversial weapons banned by international law. Tools like MSCI ESG Ratings provide investors with greater transparency and confidence when assessing a portfolio’s alignment with ESG criteria and allow investors to evaluate a company’s involvement in specific business activities, including the production of controversial weapons. Moreover, the EU’s commitment to building defence sovereignty ensures that capital is increasingly directed toward companies operating under strict governance and compliance standards. This not only excludes firms from restricted jurisdictions but also strengthens the competitive position of European defence companies by granting them preferred access to an increasingly protected internal market.
European defence ETFs: a thoughtful route to defence investment
Historically, defence investment has focused on NATO and allied industries, often favouring US defence stocks. This was partly due to underinvestment by many European members that historically fell short of NATO’s 2% GDP defence spending target. However, this is changing. As of 2024, average EU defence spending reached approximately 1.9% of Member State GDP, with Germany meeting the 2% target last year. In continuing this momentum, the European Parliament in a recent Think Tank highlighted the critical role of private investment in fortifying Europe’s defence industry, particularly as funding gaps widen and security challenges evolve. The introduction of European-focused defence ETFs marks a significant step in aligning capital markets with Europe’s evolving security landscape. These ETFs help channel investment into the region’s defence sector while offering investors a way to support resilience and strategic autonomy without compromising on responsible investing principles. By bridging public and private funding, these ETFs play a key role in directing much-needed capital toward Europe’s security priorities, while adhering to ESG and regulatory standards. In a sign of growing policy support for strengthening Europe’s defence capabilities, the French financial regulator (AMF) has introduced a fast-track authorisation process for investment funds targeting companies within the Defence Technological and Industrial Base (DTIB). This initiative may signal the start of broader efforts by European supervisory bodies to reduce red tape and facilitate capital flows into the defence sector. By easing access to defence investment, policymakers can help strike a balance between enabling capital formation and staying aligned with European values and commitments. With strict public sector backing, robust regulatory and compliance standards and a clear commitment to ethical defence practices, European defence companies provide the most ESG-aligned investment approach in the sector. As security and sustainability become increasingly interdependent priorities, European-focused defence ETFs offer investors access to companies that align with both responsible governance and strategic resilience. (Source: https://www.thearmchairtrader.com/)
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SPX CommTech, part of SPX Technologies Inc, innovates specialised technologies within the Radio Frequency (RF) spectrum to ensure a smarter, more secure future for all. Formed by TCI and ECS, SPX CommTech’s Battlespace portfolio enables defence and security teams to detect, defeat and exploit RF signals to enhance communications intelligence (COMINT) and counter unmanned aerial systems (Counter-UAS). Additionally, its Tactical Data Link portfolio allows intelligence gathering agencies, special forces, emergency response, and security teams to securely and reliably transfer video and data between enabled-aircraft and ground teams over long distances for airborne Intelligence, Surveillance, Reconnaissance (ISR). For more information visit www.tcibr.com and www.enterprisecontrol.co.uk
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