Business
POET Technologies Reports First Quarter 2023 Financial Results
TORONTO, May 15, 2023 (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 15, 2023 (GLOBE NEWSWIRE) -- POET Technologies Inc. (“POET” or the “Company”) (TSX Venture: PTK; NASDAQ: POET), the designer and developer of the POET Optical Interposer™, Photonic Integrated Circuits (PICs) and light sources for the data center, tele-communication and artificial intelligence markets, today reported its audited consolidated financial results for the first quarter ended March 31, 2023. 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. Business Highlights Since 4Q’22 Reported on March 31, 2023: Released “POET Infinity™”, a chiplet-based transmitter platform for 400G, 800G and 1.6T pluggable transceivers and co-packaged optics solutions.Released “POET Starlight™”, a packaged light source solution for AI applications.Announced an agreement with Celestial AI, creators of the Photonic Fabric™, for development and production of POET Starlight packaged light sources and received an advanced purchase order for initial production units.Received first volume production order valued at more than US$3 million for optical engines through the Company’s joint-venture company, Super Photonics Xiamen (SPX); the purchase order was placed by Beijing FeiYunYi Technology Ltd. Management Comments “We’ve made significant progress on our commercialization roadmap with the recent purchase orders from world-class customers as well as our introduction of important new products,” stated Chairman & CEO, Dr. Suresh Venkatesan. “Our work with leading companies like Celestial AI and Beijing FeiYunYi Technology further validate the commercial viability of our optical engines and other optical interposer-based products. POET’s Infinity optical chiplet solution received wide praise when demonstrated as part of a highly integrated 800G transceiver module at the OFC Conference in March. Additionally, we announced our POET Starlight products, which are packaged light engines based on our LightBar platform and an ideal solution for AI applications. The creation of this product, while significant, was a seamless modification of the POET Optical Interposer, underscoring the flexibility of our core technology and its relevance across a wide spectrum of data communications applications.” Non-IFRS Fin...