News: Optoelectronics
14 August 2023
POET cuts losses further in Q2
For second-quarter 2023, POET Technologies Inc of Toronto, Ontario, Canada — designer and developer of the POET Optical Interposer, photonic integrated circuits (PICs) and light sources for the data-center, telecom and artificial intelligence (AI) markets — has reported non-recurring engineering revenue (NRE) of $177,000, down from $181,000 last quarter but up on $120,000 a year ago. This comprised NRE contract services provided to multiple customers (one of which continued to contract services from last year) relating to unique projects that are being addressed utilizing the capabilities of the POET Optical Interposer.
Net loss has been cut from $5.3m ($0.14 per share) last quarter to $4.4m ($0.11 per share). This included R&D costs of $2m, cut from $2.3m last quarter.
Cash flow from operating activities was –$4m, greater than –$3.4m a year ago but cut from –$4.4m last quarter.
During the quarter, POET received $1.6m from the exercise of warrants and stock options, contributing to $7.9m received for the first three quarters of 2023.
“We continue to execute on our roadmap, while also accelerating certain aspects of it through increased customer engagements,” says chairman & CEO Dr Suresh Venkatesan.
On 14 June, the firm announced alpha sample readiness of POET Infinity, a chiplet-based transmitter platform for 400G, 800G and 1.6T pluggable transceivers and co-packaged optics solutions.
“The company now has five product lines that we are actively sampling and engaged with at new and existing customers. POET Infinity, POET Starlight, POET LightBar, POET Legacy and POET ONE have emerged as foundational products for us and are providing the opportunity for expanded discussions with customers,” says Venkatesan. “Our AI product line features competitively priced and scalable optical engines for high-speed Ethernet-based transceivers and packaged light sources for CXL 3.0-type interfaces. Within the datacom and telecom markets, we have delivered alpha versions of the POET Infinity optical chiplet solution to two lead customers for testing. These customers aim to develop industry-leading 800G 2xFR4 QSFP-DD and OSFP transceiver solutions,” he adds. “To further support our team’s engineering and commercialization achievements, we have increased our sales and marketing activities.”
POET receives first volume purchase order for optical engines
