POET Technologies disclosed its third‑quarter 2025 financial results, reporting non‑IFRS product revenue of $298,434 and a net loss of $9.4 million. The revenue figure represents a dramatic year‑over‑year increase from $3,685 in Q3 2024, driven by two initial production orders totaling more than $5.6 million from key customers. The company’s net loss narrowed from $12.7 million in Q3 2024, but still reflects the heavy investment required to bring its optical interposer platform to market.
Research and development expenses rose to $3.7 million, up from $2.9 million in the prior quarter, as POET accelerated development of its 1.6‑terabit optical receiver and expanded its light‑source product line in partnership with Semtech, Sivers Semiconductors, and NTT Innovative Devices. The new receiver, a milestone for high‑performance AI interconnects, is expected to open additional revenue streams once production ramps up.
The company also closed a $250 million equity financing with three institutional investors, boosting its cash balance to roughly $73 million. The capital infusion provides runway for scaling manufacturing, pursuing further product development, and potentially pursuing strategic acquisitions. Management emphasized that the equity raise signals strong investor confidence in the company’s technology roadmap.
POET’s earnings missed analyst expectations: the reported EPS of ($0.11) fell short of the consensus estimate of ($0.10), and revenue of $298,434 was below the $500,000 estimate. The miss reflects the company’s continued reliance on early orders and the high cost of R&D and pre‑production activities. Management noted that while the revenue ramp is encouraging, converting these initial orders into sustained sales remains a challenge.
Market reaction was muted, with the stock falling 11.15% over two days following the results. Investors cited the earnings miss, ongoing net loss, and capital efficiency concerns as primary drivers of the decline, despite the positive signals from the equity raise and product launches. Analysts highlighted the need for POET to accelerate production and secure additional orders to move toward profitability.
Management reiterated its focus on commercializing the optical interposer platform for AI and data‑center markets, stating that the company is “building a foundation for accelerated customer adoption and revenue growth in high‑volume AI networking solutions.” The company’s guidance for the remainder of 2025 remains cautious, with no new revenue or earnings targets disclosed, underscoring the uncertainty surrounding the timing of a profitable transition.
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