POET Technologies Q2 Revenue Jumps 112% on New Supply Deal
POET has more than doubled off its 52-week low of $3.87 on light trading volume (0.4× avg).
Summary
POET Technologies reported Q2 revenue up 112% year-over-year, its sixth consecutive growth quarter, driven by a new supply agreement with Lumilens. Net loss narrowed to $11.3 million from both the prior quarter and prior year. The company also received a $50 million purchase order from Lumilens and expects to begin shipping substantial production units for qualification in H2 2026. This follows the $400 million financing completed in May and the short-seller report from Night Market Research. The production ramp remains on schedule, and the company is transitioning from technology development to product development, with increased R&D costs reflecting that shift.
Updates
· SEC 6-K — The 6-K includes the full financial statements and MD&A, with revenue of $569,925, net loss of $11.3 million, and cash and short-term investments of $796.3 million. It also discloses a $2.4 million purchase order from an existing customer and an agreement with a Tier 1 laser company, both subsequent to quarter-end.
At the time of this announcement, POET was trading at $9.15 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.5B. The 52-week trading range was $3.87 to $20.81. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.