Employee and Management Structure - As of December 31, 2024, the Company had 90 full-time employees and 4 consultants, with 11 employees and 3 consultants engaged in R&D initiatives[308]. - The Compensation Committee is responsible for evaluating senior management compensation, ensuring it aligns with the Company's performance and shareholder interests[305]. - The independent auditor is accountable to the Board and the Audit Committee, which evaluates their performance and oversees their compensation[303]. - The Compensation Committee ensures that management compensation programs are linked to meaningful performance targets[305]. - The Company has adopted a written code of business conduct and ethics to guide its operations[306]. - The company adopted a Compensation Recovery Policy in 2024 in compliance with Nasdaq listing standards and Rule 10D-1 of the Exchange Act[317]. - As of December 31, 2024, there was no outstanding balance of erroneously awarded compensation to be recovered[318]. Shareholder Information - Major shareholders include MM Asset Management Inc. SPC, holding 256,420 shares, representing less than 1% of the total[311]. - The total beneficial ownership of Directors and Officers amounts to 501,567 shares, which is less than 1% of the class[311]. - Major shareholder MM Asset Management Inc. SPC holds 8,027,792 shares, with a price range from 4.26to8.39[316]. Financial Performance - The company reported a revenue of CAD 1.75 billion for Q3 2022, reflecting a 4.3% increase compared to CAD 1.68 billion in Q3 2021[315]. - User data showed a growth in active users, reaching 9.37 million in Q3 2022, up from 8.75 million in Q3 2021, indicating a year-over-year increase of approximately 7.1%[315]. - The company provided a forward guidance of CAD 1.80 billion for Q4 2022, representing an expected growth of 2.9% compared to Q3 2022[315]. - The company reported a net income of CAD 400 million for Q3 2022, a 5% increase from CAD 380 million in Q3 2021[315]. - Operating margin improved to 23% in Q3 2022, compared to 21% in Q3 2021, indicating better cost management[315]. Research and Development - Research and development expenses increased to CAD 80 million in Q3 2022, up from CAD 75 million in Q3 2021, reflecting a commitment to innovation[315]. - New product launches are anticipated to contribute an additional CAD 200 million in revenue for the upcoming fiscal year[315]. - A strategic acquisition is planned, which is expected to enhance the company's technological capabilities and add CAD 50 million in annual revenue[315]. Market and Operational Strategy - The company is focusing on market expansion in Asia, targeting a 15% increase in market share by the end of 2023[315]. - The Company has a fabrication facility in Singapore employing 44 individuals, contributing to its operational capabilities[308]. Currency and Market Risk - The company is exposed to a foreign currency risk, with a 10% change in foreign currencies held potentially increasing or decreasing other comprehensive loss by 3,250,000[395].−TheexchangeratefromCADtoUSDshowedahighof0.7446andalowof0.6800fromSeptember2024toFebruary2025,withanaverageof0.7159[396].−TheexchangeratefromSGDtoUSDhadahighof0.7791andalowof0.7291fromSeptember2024toFebruary2025,withanaverageof0.7510[397].−TheexchangeratefromCNYtoUSDhadahighof0.1426andalowof0.1364fromSeptember2024toFebruary2025,withanaverageof0.1390[397].−Thecompanymanagesmarketriskthroughitsinvestmentpolicy,ensuringoptimalinvestmentreturnswhilemeetingdailycashflowandliquiditydemands[393].−Short−terminvestmentsaresubjecttointerestrateriskduetomarketfluctuations,butthecompanydoesnotrelyoninterestfromtheseinvestmentstofundoperations[394].CompensationandStockOptions−TheoptionsexercisableforDirectorsandOfficerswithin60daysofMarch20,2025,includevariousgrantswithpricesstartingatCAD1.75[314].−Thecompanyholdsasignificantnumberofwarrantsexercisablewithin60daysofMarch20,2025,withatotalof26,966to124,861warrantsheldbyvariousexecutivesatanexercisepriceofCA1.52[316].
POET Technologies (POET)2025-04-01 21:22