POET Technologies Reports First Quarter 2025 Financial Results
POET Technologies (NASDAQ: POET) reported its Q1 2025 financial results, showing revenue of $166,760, up from $8,710 in Q1 2024. The company posted a net income of $6.3 million ($0.08 per share), compared to a net loss of $5.7 million in Q1 2024, largely due to a non-cash gain of $15.4 million from derivative warrant liability adjustments.
Key operational highlights include shipping final design samples of POET Infinity transmit products for 400G and 800G applications, demonstrating POET Teralight™ for 1.6T optical engines, and partnering with Lessengers for 800G DR8 transceivers. The company successfully transitioned production to a new 10,000 square foot clean room facility in Malaysia through partner Globetronics, positioning for volume orders from AI and cloud data center customers.
R&D costs increased to $4.3 million from $1.9 million year-over-year, while operating cash flow was ($8.9) million compared to ($4.6) million in Q1 2024.
POET Technologies (NASDAQ: POET) ha riportato i risultati finanziari del primo trimestre 2025, mostrando ricavi di 166.760 dollari, in aumento rispetto agli 8.710 dollari del primo trimestre 2024. La società ha registrato un utile netto di 6,3 milioni di dollari (0,08 dollari per azione), rispetto a una perdita netta di 5,7 milioni di dollari nel primo trimestre 2024, principalmente grazie a un guadagno non monetario di 15,4 milioni di dollari derivante da rettifiche della passività per warrant derivati.
I principali risultati operativi includono la spedizione dei campioni di design finale dei prodotti trasmettitori POET Infinity per applicazioni 400G e 800G, la dimostrazione del POET Teralight™ per motori ottici da 1,6T e la collaborazione con Lessengers per transceiver 800G DR8. L’azienda ha completato con successo il trasferimento della produzione in un nuovo laboratorio a camera bianca di 10.000 piedi quadrati in Malesia tramite il partner Globetronics, preparandosi per ordini di volume da clienti AI e data center cloud.
I costi di R&S sono aumentati a 4,3 milioni di dollari rispetto a 1,9 milioni dell’anno precedente, mentre il flusso di cassa operativo è stato di (8,9) milioni rispetto a (4,6) milioni nel primo trimestre 2024.
POET Technologies (NASDAQ: POET) reportó sus resultados financieros del primer trimestre de 2025, mostrando ingresos de 166,760 dólares, un aumento respecto a los 8,710 dólares del primer trimestre de 2024. La compañía registró un ingreso neto de 6.3 millones de dólares (0.08 dólares por acción), comparado con una pérdida neta de 5.7 millones en el primer trimestre de 2024, debido principalmente a una ganancia no monetaria de 15.4 millones de dólares por ajustes en la obligación de warrants derivados.
Los aspectos operativos clave incluyen el envío de muestras finales de diseño de los productos transmisores POET Infinity para aplicaciones de 400G y 800G, la demostración del POET Teralight™ para motores ópticos de 1.6T, y la asociación con Lessengers para transceptores 800G DR8. La compañía completó con éxito la transición de producción a una nueva instalación de sala limpia de 10,000 pies cuadrados en Malasia a través del socio Globetronics, preparándose para pedidos en volumen de clientes de IA y centros de datos en la nube.
Los costos de I+D aumentaron a 4.3 millones de dólares desde 1.9 millones año con año, mientras que el flujo de caja operativo fue de (8.9) millones comparado con (4.6) millones en el primer trimestre de 2024.
POET Technologies(NASDAQ: POET)는 2025년 1분기 재무 결과를 발표하며 1억 6만 6,760달러의 매출을 기록해 2024년 1분기의 8,710달러에서 크게 증가했습니다. 회사는 630만 달러(주당 0.08달러)의 순이익을 기록했으며, 이는 2024년 1분기 570만 달러 순손실과 비교되며, 주로 파생상품 워런트 부채 조정으로 인한 비현금성 이익 1,540만 달러 덕분입니다.
주요 운영 성과로는 400G 및 800G 애플리케이션용 POET Infinity 송신기 최종 설계 샘플 출하, 1.6T 광 엔진용 POET Teralight™ 시연, 그리고 Lessengers와의 800G DR8 트랜시버 협력이 포함됩니다. 회사는 파트너 Globetronics와 함께 말레이시아의 새로운 1만 평방피트 클린룸 시설로 생산을 성공적으로 이전했으며, AI 및 클라우드 데이터 센터 고객의 대량 주문에 대비하고 있습니다.
연구개발 비용은 전년 대비 430만 달러로 증가했으며, 영업 현금 흐름은 2024년 1분기의 (460만 달러)에서 (890만 달러)로 악화되었습니다.
POET Technologies (NASDAQ : POET) a publié ses résultats financiers du premier trimestre 2025, affichant un chiffre d'affaires de 166 760 dollars, en hausse par rapport à 8 710 dollars au premier trimestre 2024. La société a enregistré un bénéfice net de 6,3 millions de dollars (0,08 dollar par action), contre une perte nette de 5,7 millions au premier trimestre 2024, principalement grâce à un gain non monétaire de 15,4 millions provenant des ajustements de passifs liés aux warrants dérivés.
Les points forts opérationnels incluent l’expédition des échantillons de conception finale des produits émetteurs POET Infinity pour les applications 400G et 800G, la démonstration de POET Teralight™ pour les moteurs optiques 1,6T, ainsi que le partenariat avec Lessengers pour les transceivers 800G DR8. L’entreprise a réussi la transition de sa production vers une nouvelle salle blanche de 10 000 pieds carrés en Malaisie via son partenaire Globetronics, se positionnant pour des commandes en volume de clients dans l’IA et les centres de données cloud.
Les coûts de R&D ont augmenté à 4,3 millions de dollars contre 1,9 million d’une année sur l’autre, tandis que le flux de trésorerie opérationnel était négatif à (8,9) millions contre (4,6) millions au premier trimestre 2024.
POET Technologies (NASDAQ: POET) meldete seine Finanzergebnisse für das erste Quartal 2025 und verzeichnete Einnahmen von 166.760 USD, gegenüber 8.710 USD im ersten Quartal 2024. Das Unternehmen erzielte einen Nettoertrag von 6,3 Millionen USD (0,08 USD je Aktie), im Vergleich zu einem Nettoverlust von 5,7 Millionen USD im ersten Quartal 2024, was hauptsächlich auf einen nicht zahlungswirksamen Gewinn von 15,4 Millionen USD aus Anpassungen der derivativen Optionsschuld zurückzuführen ist.
Wesentliche operative Highlights umfassen den Versand von finalen Designmustern der POET Infinity Transmitter-Produkte für 400G- und 800G-Anwendungen, die Demonstration von POET Teralight™ für 1,6T optische Motoren und die Partnerschaft mit Lessengers für 800G DR8 Transceiver. Das Unternehmen hat die Produktion erfolgreich in eine neue 10.000 Quadratfuß große Reinraum-Anlage in Malaysia über den Partner Globetronics verlagert und bereitet sich auf Volumenbestellungen von KI- und Cloud-Rechenzentrumskunden vor.
Die F&E-Kosten stiegen auf 4,3 Millionen USD von 1,9 Millionen im Jahresvergleich, während der operative Cashflow mit (8,9) Millionen USD gegenüber (4,6) Millionen USD im ersten Quartal 2024 negativ blieb.
- Revenue increased significantly to $166,760 in Q1 2025 from $8,710 in Q1 2024
- Net income of $6.3 million ($0.08 per share) compared to net loss in previous periods
- Successfully transitioned production to new 10,000 sq ft clean room facility in Malaysia
- Shipped final design samples of 400G and 800G products to three major technology leaders
- Strategic partnership with Lessengers for 800G DR8 transceiver development
- Operating cash flow remained negative at ($8.9) million, worsening from ($4.6) million in Q1 2024
- R&D costs more than doubled to $4.3 million from $1.9 million year-over-year
- Product revenue remained small in Q1 2025 despite overall revenue growth
- Net income largely driven by non-cash gain rather than operational performance
Insights
POET showed surprise Q1 profitability driven by non-cash accounting gains, but minimal product revenue despite promising tech developments.
POET Technologies' Q1 2025 financials reflect a company in transition from R&D to commercialization, though with significant accounting nuances requiring careful analysis. The headline $6.3 million net income (
The concerning reality: POET generated just
The Malaysia production transition appears strategically sound, addressing scalability with a new 10,000 square foot clean room facility. Management signals expectation of "accelerated revenue growth in the second half of the year" based on product samples shipped to "three major technology leaders" and new optical engine innovations shown at industry conferences.
However, the gap between current minimal revenue and significant cash burn creates financial pressure. At this burn rate (
TORONTO, May 14, 2025 (GLOBE NEWSWIRE) -- POET Technologies Inc. (“POET” or the “Company”) (TSX Venture: PTK; NASDAQ: POET), the designer and developer of Photonic Integrated Circuits (PICs), light sources and optical modules for the AI and data center markets, today reported its unaudited condensed consolidated financial results for the first quarter ended March 31, 2025. The Company’s financial results as well as the Management Discussion and Analysis have been filed on SEDAR+. All financial figures are in United States dollars (“USD”) unless otherwise indicated.
Management Commentary:
“In the first quarter of 2025, we continued to build momentum across multiple fronts—technology innovation, commercial progress, strategic partnerships and production capacity - positioning the company for accelerated revenue growth in the second half of the year,” said Dr. Suresh Venkatesan, Chairman & CEO of POET Technologies. “The transition out of SPX in China into Malaysia was a timely and energizing event for the Company. Opening a 10,000 square foot clean room filled with wafer-level production tools at our partner, Globetronics, was the indispensable next step to accepting volume orders from AI and cloud data center customers. As we look ahead, we are building on the strong foundation of innovative products introduced at OFC, and the reaction of customers and partners, reinforces our conviction that POET is on the cusp of a meaningful revenue inflection later this year.”
Notable Business Highlights:
- Shipped final design samples of its POET Infinity transmit product line for 400G and 800G applications to three major technology leaders. The products include 400G FR4, 800G 2xFR4 and 800G DR8 transmit formats, all assembled at our high-volume production facility in Malaysia.
- Demonstrated its latest innovations, POET Teralight™, a line of 1.6T highly integrated transmit and receive optical engines and the new POET Blazar™, an advanced light source at the Optical Fiber Communications (“OFC”) Conference.
- Partnered with Lessengers, an innovative optical solution provider based in South Korea, to offer a differentiated 800G DR8 transceiver
Non-IFRS Financial Summary
The Company reported non-recurring engineering (“NRE”) and product revenue of
The Company reported a net income of
The largest component of the Company’s income was from the non-cash gain in fair value adjustment to derivative warrant liability of
Other non-cash expenses in the first quarter of 2025 included stock-based compensation of
The Company recognized other income, including interest of
During the fourth quarter of 2024, the Company acquired the remaining
Cash flow from operating activities in the first quarter of 2025 was (
Summary of Financial Performance
The following is a summary of the Company’s operations over the five quarters ending March 31, 2025. This information should be read in conjunction with the Company’s financial statements filed on Sedar+ on May 14, 2025.
| POET TECHNOLOGIES INC. PROFORMA – NON-IFRS AND IFRS PRESENTATION OF OPERATIONS (All figures are in U.S. Dollars) | |||||||||||||||
| For the Quarter ended: | 31-Mar-25 | 31-Dec-24 | 30-Sep-24 | 30-Jun-24 | 31-Mar-24 | ||||||||||
| Revenue | 166,760 | 29,032 | 3,685 | - | 8,710 | ||||||||||
| Research and development | (4,360,192 | ) | (3,437,683 | ) | (1,765,481 | ) | (2,117,828 | ) | (1,922,066 | ) | |||||
| Depreciation and amortization | (726,868 | ) | (475,281 | ) | (525,955 | ) | (509,699 | ) | (509,260 | ) | |||||
| Professional fees | (276,184 | ) | (679,156 | ) | (480,871 | ) | (366,839 | ) | (409,726 | ) | |||||
| Wages and benefits | (2,123,274 | ) | (758,883 | ) | (667,963 | ) | (780,146 | ) | (768,496 | ) | |||||
| Loss on acquisition of | - | (6,852,687 | ) | - | - | - | |||||||||
| Stock-based compensation | (841,793 | ) | (1,404,995 | ) | (1,525,131 | ) | (1,591,741 | ) | (947,502 | ) | |||||
| General expenses and rent | (898,056 | ) | (474,937 | ) | (465,448 | ) | (448,357 | ) | (570,819 | ) | |||||
| Finance advisory fees | (476,802 | ) | (4,239,831 | ) | (1,319,392 | ) | (942,576 | ) | - | ||||||
| Derivative liability adjustment | 15,382,971 | (12,444,661 | ) | (6,179,836 | ) | (1,376,761 | ) | (629,824 | ) | ||||||
| Interest expense | (32,786 | ) | (31,605 | ) | (30,482 | ) | (20,833 | ) | (19,753 | ) | |||||
| Other (income), including interest | 527,782 | 511,448 | 216,337 | 174,911 | 52,558 | ||||||||||
| Net loss | 6,341,558 | (30,259,239 | ) | (12,740,537 | ) | (7,979,869 | ) | (5,716,178 | ) | ||||||
| Net income (loss) per share - Basic | 0.08 | (0.50 | ) | (0.20 | ) | (0.14 | ) | (0.13 | ) | ||||||
| Net income (loss) per share - Diluted | - | (0.50 | ) | (0.20 | ) | (0.14 | ) | (0.13 | ) | ||||||
About POET Technologies Inc.
POET is a design and development company offering high-speed optical modules, optical engines and light source products to the artificial intelligence systems market and to hyperscale data centers. POET’s photonic integration solutions are based on the POET Optical Interposer™, a novel, patented platform that allows the seamless integration of electronic and photonic devices into a single chip using advanced wafer-level semiconductor manufacturing techniques. POET's Optical Interposer-based products are lower cost, consume less power than comparable products, are smaller in size and are readily scalable to high production volumes. In addition to providing high-speed (800G, 1.6T and above) optical engines and optical modules for AI clusters and hyperscale data centers, POET has designed and produced novel light source products for chip-to-chip data communication within and between AI servers, the next frontier for solving bandwidth and latency problems in AI systems. POET’s Optical Interposer platform also solves device integration challenges in 5G networks, machine-to-machine communication, self-contained “Edge” computing applications and sensing applications, such as LIDAR systems for autonomous vehicles. POET is headquartered in Toronto, Canada, with operations in Allentown, PA, Shenzhen, China, and Singapore. More information about POET is available on our website at www.poet-technologies.com.
| Media Relations Contact: Adrian Brijbassi Adrian.brijbassi@poet.tech | Company Contact: Thomas R. Mika, EVP & CFO tm@poet.tech |
Forward-Looking Statements
This news release contains “forward-looking information” (within the meaning of applicable Canadian securities laws) and “forward-looking statements” (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “potential”, “estimate”, “propose”, “project”, “outlook”, “foresee” or similar words suggesting future outcomes or statements regarding any potential outcome. Such statements include the Company’s expectations with respect to its move of production capacity from China to Malaysia, the ability of its partners to install and operate production equipment, the reaction of customers and partners to the Company’s product offerings, the success of the Company’s product development efforts, the performance of its products, the expected results of its operations, meeting revenue targets, and the expectation of continued success in the financing efforts, the capability, functionality, performance and cost of the Company’s technology as well as the market acceptance, inclusion and timing of the Company’s technology in current and future products and expectations for approval of proposals at the Company’s annual meeting of shareholders.
Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management’s expectations regarding its move of production capacity from China to Malaysia, the ability of its partner to meet production expectations, the reaction of customers and partners to the Company’s product offerings, the success and timing for completion of its development efforts, the introduction of new products, financing activities, future growth, recruitment of personnel, opening of offices, the form and potential of its joint venture, plans for and completion of projects by the Company’s consultants, contractors and partners, availability of capital, and the necessity to incur capital and other expenditures. Actual results could differ materially due to a number of factors, including, without limitation, the failure to achieve high volume production in Malaysia on time, the failure of its products to meet performance requirements or to be produced in Malaysia on time and budget, the lack of sales in its products, once released, operational risks in the completion of the Company’s anticipated projects, risks affecting the Company’s ability to execute projects, the ability of the Company to generate sales for its products, the ability to attract key personnel, the ability to raise additional capital and the agreement by shareholders to approve proposals put forth by the Company at shareholders’ meetings. Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company’s securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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