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POET Technologies Reports First Quarter 2025 Financial Results
GlobeNewswire·2025-05-14 22:38

Core Insights - POET Technologies Inc. reported significant financial improvements in Q1 2025, including a net income of 6.3millioncomparedtoanetlossof6.3 million compared to a net loss of 5.7 million in Q1 2024 [5][10] - The company is focusing on technology innovation, commercial progress, and strategic partnerships to drive revenue growth in the second half of 2025 [2][4] Financial Performance - The company achieved non-recurring engineering and product revenue of 166,760inQ12025,asubstantialincreasefrom166,760 in Q1 2025, a substantial increase from 8,710 in Q1 2024 and 29,032inQ42024[4][13]−Researchanddevelopmentcostsroseto29,032 in Q4 2024 [4][13] - Research and development costs rose to 4.3 million in Q1 2025 from 1.9millioninQ12024,reflectingthetransitionfromtechnologydevelopmenttoproductdevelopment[5][13]−Asignificantnon−cashgainof1.9 million in Q1 2024, reflecting the transition from technology development to product development [5][13] - A significant non-cash gain of 15.4 million from fair value adjustments to derivative warrant liability was recorded in Q1 2025, compared to a loss of 630,000inQ12024[6][13]BusinessHighlights−Thecompanyopeneda10,000squarefootcleanroominMalaysiatoenhanceproductioncapacityforAIandclouddatacentercustomers[2]−POETshippedfinaldesignsamplesofitsPOETInfinitytransmitproductlinefor400Gand800Gapplicationstomajortechnologyleaders[8]−ThecompanypartneredwithLessengerstoofferan800GDR8transceiver,enhancingitsproductofferingsintheopticalsolutionsmarket[8]CashFlowandOtherIncome−Cashflowfromoperatingactivitieswasnegative630,000 in Q1 2024 [6][13] Business Highlights - The company opened a 10,000 square foot clean room in Malaysia to enhance production capacity for AI and cloud data center customers [2] - POET shipped final design samples of its POET Infinity transmit product line for 400G and 800G applications to major technology leaders [8] - The company partnered with Lessengers to offer an 800G DR8 transceiver, enhancing its product offerings in the optical solutions market [8] Cash Flow and Other Income - Cash flow from operating activities was negative 8.9 million in Q1 2025, compared to negative 4.6millioninQ12024[10]−Thecompanyrecognizedotherincome,includinginterestof4.6 million in Q1 2024 [10] - The company recognized other income, including interest of 528,000 in Q1 2025, up from $52,000 in Q1 2024 [9][13]