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POET Technologies Reports First Quarter 2022 Financial Results
TORONTO, May 11, 2022 (GLOBE NEWSWIRE) -- POET Technologies Inc. (“POET” or the “Company”) (TSX Venture: PTK; NASDAQ: POET), the designer and developer of the
About this update from Poet Technologies Inc.
[{"type":"text","content":"TORONTO, May 11, 2022 (GLOBE NEWSWIRE) -- POET Technologies Inc. (“POET” or the “Company”) (TSX Venture: PTK; NASDAQ: POET), the designer and developer of the POET Optical Interposer™ and Photonic Integrated Circuits (PICs) for the data center and tele-communication markets, today reported its unaudited condensed consolidated financial results for the first quarter ended March 31, 2022. The Company’s financial results as well as the Management Discussion and Analysis have been filed on SEDAR. All financial figures are in United States dollars (“USD”) unless otherwise indicated. First Quarter Financial (non-IFRS) and Recent Business Highlights: The Company achieved the following significant milestones during the three months ended March 31, 2022: Named to the 2022 OTCQX® Best 50, a ranking of top performing companies traded on the OTCQX Best Market last year.Entered into an agreement with Celestial AI to provide multi-laser integrated external light source (ELS) modules using its advanced packaging platform based on the POET Optical Interposer. The agreement includes a contract for continued platform development, along with a purchase order for initial quantities of the advanced modules.Announced a collaboration with Liobate Technologies to incorporate advanced Thin-Film Lithium Niobate (“TFLN”) modulators onto POET’s Optical Engines supporting power-efficient ultra-high-bandwidth electro-optic conversion for data center and telecom applications. This multi-phase, co-development project is initially focused on delivering and commercializing a POET 400/800Gps Transmit and Receive Optical Engine.Announced the launch of its 400G FR4 and 800G (2x400G FR4) Receive (RX) Optical Engines based on the POET Optical Interposer, a unique next-generation hybrid silicon photonics platform.Completed previously announced consolidation of its common shares and commenced trading on Nasdaq under the ticker symbol “POET”.Joined the Singapore Hybrid-Integrated Next Generation micro-Electronics (SHINE) Center located in the College of Design and Engineering at the National University of Singapore (NUS). Management Comments“The first quarter has been an active period of sampling and expanding customer engagement,” stated Dr. Suresh Venkatesan, Chairman & CEO. “We were able to leverage our success at OFC where we demonstrated our 200G FR4 Transmit and 4...