Poet Technologies Inc Stock Price, News & Analysis

POET Technologies has announced its intention to voluntarily delist its common shares from the TSX Venture Exchange (TSXV), while maintaining its listing on the NASDAQ Capital Market under the symbol 'POET'. The company's board of directors has approved this decision, citing low trading volume on TSXV as the main reason, as NASDAQ represents the majority of trading activity. POET will remain a reporting issuer in Canada and continue providing comprehensive disclosure under Canadian securities laws. Shareholders can continue trading through NASDAQ, and those with Canadian brokerage accounts are advised to contact their brokers regarding NASDAQ trading procedures.

POET Technologies reported Q3 2024 financial results with notable developments in AI networking markets. The company raised $25 million through private placements and expanded partnerships with Luxshare Tech and Mentech. A new collaboration with Mitsubishi Electric was established for 3.2T pluggable transceivers development. The company reported a net loss of $12.7 million ($0.20 per share), compared to $5.1 million ($0.13 per share) in Q3 2023. Cash balance stood at $41.8 million with working capital of $23.6 million. R&D costs were $1.8 million, down from $2.0 million in the same period last year.

POET Technologies has been awarded the 'Best in Artificial Intelligence' honor at the 2024 Global Tech Awards. This marks the company's third major recognition in 2024, following accolades from the AI Breakthrough Awards and Merit Awards. POET was selected for its innovative approach to powering AI networks and hyperscale data centers.

The Global Tech Awards, established in 2022, aims to celebrate excellence in technology, with judges from leading tech companies. POET's Optical Interposer™ platform technology and growing product suite have been acknowledged for their groundbreaking nature and positive commercial impacts.

Dr. Suresh Venkatesan, POET's Chairman & CEO, expressed enthusiasm about the recognition, noting it as a testament to why industry leaders are increasingly turning to POET for solutions in AI networking and data center connectivity.

POET Technologies has been awarded the Gold Prize as 'AI Innovator of the Year' in the Technology category at the 2024 Merit Awards. This recognition follows their recent 'Best Optical AI Solution' honor at the 2024 AI Breakthrough Awards. The Merit Awards, established in 2022, celebrate global leaders shaping the future across various industries.

Marie Zander, Executive Director of Merit Awards, praised POET's groundbreaking advancements in photonic technology, highlighting their impact on the AI industry. Previous Merit Awards winners include industry giants like Nvidia, Intel, and Oracle.

Dr. Suresh Venkatesan, POET's Chairman & CEO, emphasized that the POET Optical Interposer™ is gaining recognition due to its commercial viability in advancing AI networking and data center performance goals. He cited recent agreements with Mitsubishi Electric, Luxshare Tech, and Foxconn Interconnect Technology as evidence of the industry's interest in POET's achievements.

POET Technologies has entered a collaboration with Mitsubishi Electric to co-develop integrated optical engine chipsets for 3.2T pluggable transceivers, targeting the rapidly growing AI networking market. POET will integrate Mitsubishi's 400G Electro-absorption Modulator integrated Lasers (EMLs) with other components using its optical interposer platform technology to produce 1.6T and 3.2T optical engine chipsets.

The partnership aims to complete the chipsets in early 2025, with demonstrations planned for the first half of that year. This collaboration is seen as a significant technological achievement, addressing the high demand for optical connectivity in AI and hyperscale data centers. The global optical transceiver market for 800G and 1.6T is projected to grow at a CAGR of 33% from $2.5 billion in 2024 to $10.5 billion by 2029.

POET Technologies and InSiGa Semiconductor Technologies have developed a groundbreaking solution for 800G and 1.6T optical modules, set to be showcased at CIOE 2024. The collaboration combines POET's 200Gx4 transmit optical engine with InSiGa's 200G/lane EML driver ISG-D9616, offering a compact and high-performance solution for next-generation bandwidth requirements in AI and datacenter applications.

Key features include:

• DC coupled 200G/lane EML driver with no need for external components
• Compact design with 0.7x0.9mm die size
• Differential input for cross-talk immunity
• Sampling available for ISG-D9616
• POET's optical engines designed for 800G FR4, DR4, and 1.6T applications

POET Technologies Inc. (TSX Venture: PTK; NASDAQ: POET) has announced that Mentech Technology has selected POET's transmit and receive optical engines for use in developing 800G pluggable transceivers. Mentech, a leading supplier of data communications components, has placed initial purchase orders for these engines. The collaboration aims to enhance Mentech's product lineup, particularly in high-speed optical modules for data center networking infrastructure.

Dr. Qian Yinbo, Mentech's CTO, highlighted the importance of POET's optical interposer platform in expanding their capabilities, citing its small form factor and flexibility. POET's Senior VP in Asia, Dr. Mo Jinyu, expressed excitement about the partnership, anticipating the launch of Mentech's 800G and 1.6T modules powered by POET's technology. The development process is expected to take 6-9 months, followed by 3-6 months of customer testing, with Mentech aiming for an early product launch.

POET Technologies Inc. (TSX Venture: PTK; NASDAQ: POET) will showcase its leading-edge optical products at the 2024 China International Optoelectronic Expo (CIOE) from September 11-13. The company will demonstrate products designed for AI systems and hyperscale data center markets, including:

• 800G 2xFR4 OSFP module reference design with POET's new 400G transmit engine and 800G receive engine
• 200G/lane transmit and receive optical engines for 800G and 1.6T optical modules

POET's Chairman and CEO, Dr. Suresh Venkatesan, emphasizes the importance of CIOE for building customer relationships and showcasing the versatility of their Optical Interposer platform. The company will share a booth with its joint venture, Super Photonics (SPX), which will display production-ready optical engines expected to enter the market by year-end.

POET Technologies Inc. (TSX Venture: PTK; NASDAQ: POET) has announced a reorganization of its engineering team to streamline operations and respond to customer demand for 800G and higher products in the AI systems and hyperscale data center markets. The company is establishing a Global Engineering Organization in Singapore, led by Dr. Mo Jinyu, to better serve customers in Asia Pacific countries.

Key changes include:

• Transferring engineering design and manufacturing interface functions from Allentown, PA to Shenzhen, China
• Closing the Allentown operation by March 31, 2025
• Expected annual savings of US$1.8-2 million
• One-time costs estimated at US$250,000

POET aims to secure design wins, deliver products, and take volume production orders from customers, expecting revenue growth later in 2024 and into 2025.