POET Technologies Reports Second Quarter 2026 Results: Revenue Up 112% Year-Over-Year in Sixth Consecutive Quarter of Sequential Growth
Rhea-AI Summary
POET Technologies (NASDAQ: POET) reported unaudited Q2 2026 revenue of $569,925, up 13% sequentially and 112% year-over-year, marking its sixth consecutive quarter of sequential growth. Net loss narrowed to $11.3 million, or ($0.07) per share, compared with $12.3 million in Q1 2026.
Quarter-end cash and short-term investments were $796.3 million, boosted by a $400 million registered direct offering of 19,047,620 units at $21 per unit, each with a warrant exercisable at $26.25 until May 18, 2029. POET signed a strategic supply and joint development agreement with Lumilens, which includes an initial $50 million purchase order for Optical Interposer-based engines and a framework that could scale to over $500 million in cumulative purchases over five years.
Subsequent to quarter-end, POET received a $2.4 million purchase order from an existing customer and agreed with a Tier 1 laser company to develop an external light source engine. The company also appointed Dr. Sandeep Kumar as Chief Operating Officer and approved a grant of 2,453,271 RSUs to officers under its 2026 Omnibus Incentive Plan.
Positive
- Revenue $569,925, up 13% QoQ and 112% YoY in Q2 2026
- Net loss narrowed to $11.3 million, or ($0.07) per share
- Cash and short-term investments $796.3 million at June 30, 2026
- $400 million registered direct equity financing at $21 per unit, with warrants at $26.25
- Lumilens initial purchase order of $50 million, potential to exceed $500 million over five years
- New $2.4 million purchase order from an existing customer after quarter-end
Negative
- Continued net loss of $11.3 million in Q2 2026
- Operating cash flow of ($12.2) million in Q2 2026, larger outflow than prior periods
- Research and development expense $5.8 million, higher than Q1 2026 and Q2 2025
- Stock-based compensation increased to $3.8 million in Q2 2026
- Finance advisory fees $6.17 million in Q2 2026
- Equity financing added 19,047,620 new units plus warrants, implying shareholder dilution
News Explained
An August 11 RSU grant vests over three years; an exclusive Blazar component arrangement adds a sourcing commitment, alongside negative operating cash flow.
On
The RSUs vest
The supplier arrangement covers a component the company says significantly enhances the output power of its hybrid Blazar laser.
The next stated operating milestone is expected shipment of substantial numbers of production units for qualification during the remaining quarters of 2026, with additional announcements expected in September subject to confidentiality agreements and stated risks.
Market Reaction – POET
Following this news, POET has gained 1.01%, reflecting a mild positive market reaction. Our momentum scanner has triggered 4 alerts so far, indicating moderate trading interest and price volatility. The stock is currently trading at $8.96. Trading volume is very high at 4.1x the average, suggesting strong buying interest.
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Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 14 | 1Q26 earnings | Neutral | -22.4% | Revenue growth and Lumilens order accompanied by quarterly net loss |
| Mar 31 | 4Q25 earnings | Neutral | -5.7% | Quarterly revenue and financing progress accompanied by large net loss |
| Nov 13 | 3Q25 earnings | Neutral | -6.4% | Production orders and financing accompanied by quarterly net loss |
| Nov 13 | 3Q25 earnings | Neutral | -6.4% | Production orders and product introduction accompanied by quarterly net loss |
| Aug 11 | 2Q25 earnings | Neutral | -7.6% | Revenue emergence and manufacturing expansion accompanied by quarterly net loss |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Tag-specific earnings events all recorded negative 24-hour reactions, averaging -9.69%.
Key Terms
photonic integrated circuits technical
non-ifrs financial
registered direct offering financial
derivative warrant liability financial
restricted stock units financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Net loss narrows to (
TORONTO, Aug. 13, 2026 (GLOBE NEWSWIRE) -- POET Technologies Inc. (“POET” or the “Company”) (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 second quarter ended June 30, 2026. Revenue was
Management Commentary:
“The second quarter showed POET’s transition from development to revenue taking hold: our sixth consecutive quarter of sequential revenue growth, a narrowing net loss, and our optical engine production ramp remaining on schedule for the second half of 2026,” said Dr. Suresh Venkatesan, Chairman & CEO of POET Technologies.
“The
“The appointment of Dr. Sandeep Kumar as Chief Operating Officer adds the operational and manufacturing leadership required as we scale our global operations,” added Dr. Venkatesan. “Together, our strengthened leadership team, significantly enhanced capital resources and expanding commercial opportunities establish the foundation for the next phase of POET’s growth and positions the Company to deliver long-term value for customers and shareholders.”
Notable Business Highlights Subsequent to Quarter-End
- Received a new purchase order for
$2.4 million from an existing customer subsequent to the quarter end. - Completed an agreement with a Tier 1 laser company to develop an external light source engine, also subsequent to the quarter-end.
- Entered into an exclusive arrangement with a supplier to provide a component that significantly enhances the output power of POET’s hybrid laser, the Blazar™.
Notable Business Highlights During the Second Quarter
- Entered into a supply agreement that establishes a strategic joint development and commercial technology partnership to advance a new class of wafer-level photonic integration for frontier AI infrastructure. The supply agreement between Lumilens and the Company establishes a commercial framework to support the joint development program, and, as part of that framework, Lumilens has placed an initial purchase order with the Company for the manufacturing of POET Optical Interposer-based engines valued at
$50 million . This purchase order represents the first phase of a broader supplier relationship that could scale to$500 + million in cumulative purchases from the Company over five years. - Closed a registered direct offering by issuing 19,047,620 units at a price of
$21 per unit for gross proceeds of$400,000,020 . The offering was priced at a premium to market. Each unit consisted of one common share and one common share purchase warrant, with each warrant being exercisable at a price of$26.25 until May 18, 2029. - Appointed Dr. Sandeep Kumar as Chief Operating Officer.
Non-IFRS Financial Summary
The Company reported non-recurring engineering (“NRE”) and product revenue of
The Company reported a net loss of
In the second quarter of 2026, the Company reported a non-cash gain in fair value adjustment to derivative warrant liability of
Other non-cash expenses in the second quarter of 2026 included stock-based compensation of
The Company recognized other income, including interest, of
Cash flow from operating activities in the second quarter of 2026 was (
Summary of Financial Performance
The following is a summary of the Company’s operations over the five quarters ending June 30, 2026. This information should be read in conjunction with the Company’s financial statements filed on SEDAR+ on August 13, 2026.
POET TECHNOLOGIES INC.
PROFORMA – NON-IFRS AND IFRS PRESENTATION OF OPERATIONS
(All figures are in U.S. Dollars)
| For the Quarter ended: | 30-Jun-26 | 31-Mar-26 | 31-Dec-25 | 30-Sep-25 | 30-Jun-25 | |||||
| Revenue | 569,925 | 503,389 | 341,202 | 298,434 | 268,469 | |||||
| Research and development | (5,784,056 | ) | (4,499,556 | ) | (4,621,450 | ) | (3,735,703 | ) | (3,150,044 | ) |
| Depreciation and amortization | (1,026,953 | ) | (957,700 | ) | (903,513 | ) | (892,704 | ) | (792,814 | ) |
| Professional fees | (725,691 | ) | (320,430 | ) | (503,449 | ) | (371,413 | ) | (562,583 | ) |
| Wages and benefits | (2,778,119 | ) | (4,046,941 | ) | (711,536 | ) | (675,306 | ) | (1,042,380 | ) |
| Stock-based compensation | (3,816,906 | ) | (3,486,766 | ) | (2,235,188 | ) | (1,864,589 | ) | (1,165,482 | ) |
| General expenses and rent | (456,171 | ) | (1,809,654 | ) | (747,852 | ) | (497,118 | ) | (1,009,778 | ) |
| Finance advisory fees | (6,172,500 | ) | (3,252,500 | ) | (4,632,236 | ) | (1,816,272 | ) | (1,302,464 | ) |
| Derivative liability adjustment | 5,531,784 | 1,602,298 | (30,689,590 | ) | (2,414,223 | ) | (7,559,991 | ) | ||
| Interest expense | (67,894 | ) | (46,517 | ) | (48,906 | ) | (31,429 | ) | (30,925 | ) |
| Other (income), including interest | 4,299,496 | 3,970,291 | 2,502,964 | 989,007 | 533,308 | |||||
| Unrealized foreign exchange (income) loss | (910,975 | ) | - | (422,128 | ) | 1,641,602 | (1,448,691 | ) | ||
| Net loss | (11,338,060 | ) | (12,344,086 | ) | (42,671,682 | ) | (9,369,714 | ) | (17,263,375 | ) |
| Net loss per share – Basic and Diluted | (0.07 | ) | (0.08 | ) | (0.32 | ) | (0.11 | ) | (0.21 | ) |
Restricted Stock Unit (“RSU”) Grant
On August 11, 2026, the Board of Directors of the Company approved a grant of 2,453,271 RSUs to officers of the Company. The Company used
Outlook
The Company expects to begin shipping substantial numbers of production units for qualification in the remaining quarters of 2026 and will make additional announcements and updates in September, subject to the prevailing confidentiality agreements and the risks described under “Cautionary Note Regarding Forward-Looking Information” below. Also, after careful consideration, with input from the Company’s advisors, the Board of Directors determined that, at the present time, it is not in the best interests of the Company to move forward with redomiciling to the United States.
About POET Technologies Inc.
POET is a design and development company offering high-speed optical engines, light source products and custom optical modules 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 across a broad range of communication, computing and sensing applications. POET is headquartered in Toronto, Canada, with operations in Singapore, Penang, Malaysia and Shenzhen, China. More information about POET is available on our website at www.poet-technologies.com
| Media Relations Contact: | Company Contact: |
| Adrian Brijbassi | Thomas R. Mika, EVP & CFO |
| Adrian.Brijbassi@poet.tech | tm@poet.tech |
Cautionary Note Regarding Forward-Looking Information
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, without limitation, the Company's expectations with respect to the timing of its production of devices, those devices passing qualification, the completion of its announced engagements with customers or other third-parties, the reaction of customers and partners to the Company’s product offerings, the success of product development efforts, the expected results of its operations, meeting revenue targets, and 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 the Company being able to advance its overall business objectives. 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. Actual results could differ materially due to a number of factors, including, without limitation, inability to deliver on existing purchase orders, changes in production requirements, timing and performance of capital equipment purchases, component supply constraints and other risks that may cause the Company not to achieve its expectations.
For further information concerning these and other risks and uncertainties, refer to the Company's filings on SEDAR+ at www.sedarplus.ca and with the U.S. Securities and Exchange Commission at www.sec.gov. 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 the forward-looking information and statements except as required by applicable securities laws.
120 Eglinton Avenue, East, Suite 1107, Toronto, ON, M4P 1E2- Tel: 416-368-9411 - Fax: 416-322-5075
