20 slides from Sivers Semiconductors Ab's investor day presentation, May 27, 2025
Slide 1: Corporate Overview
Corporate Overview Capital Markets Day th May 27 , 2025 Vickram Vathulya, President & CEO
Slide 2: Sivers Semiconductors at a glance
Sivers Semiconductors at a glance Overview Geographical presence and employees • Headquartered in Stockholm, Sweden, We are critical enablers of a Greener Data Economy with our Energy Efficient Photonics & Wireless Solutions. • Our differentiated high precision laser and RF beamformer technologies he
Slide 3: Why Invest in Sivers Semiconductors
Why Invest in Sivers Semiconductors A unique opportunity to participate in industry’s 2 hottest global secular trends! 2 Secular Trends + Significant revenue growth in 4-5 years 2 Momentum Markets Sizeable Market Valuation at comparable multiples1 $2B+ Serviceable Available Market 2028+ 2 Highly Dif
Slide 4: Two Long-Term Secular Trends
Two Long-Term Secular Trends Two “Momentum” Markets AI Acceleration mmWave adoption 1 2 Why? Why? larger training models, deep learning, higher capacity, lower latencies, lighter real-time inference payloads, threat mitigation AI datacenters Healthcare Automotive Aerospace & Industrial SATCOM Fixed
Slide 5: Strong Executive Team
Strong Executive Team Industry Veterans, Respected Business & Technology Leaders Chairman President & CEO MD, Photonics BU MD, Wireless BU Bami Bastani Vickram Vathulya Alex McCann Harish Krishnaswamy CFO CMO CTO, Photonics BU CTO, Wireless BU Lottie Saks Sander Arts Andrew McKee Erik Ojefors 5
Slide 6: Revenue Momentum carries into 2025
Revenue Momentum carries into 2025 Sivers Topline as well as Product Revenues: Record Q1 2025 revenues MSEK 243 243 236 236 Photonics NRE/Development & Other Wireless Products 85 84 164 133 133 189 97 97 91 73 91 158 100 152 74 69 56 69 80 60 48 29 36 33 23 22 2020 2021 2022 2023 2024 2020 2021 2022
Slide 7: Sivers “Outposts”
Sivers “Outposts” Highly Selective engagements in few other markets with lead customers Telecom Infrastructure Wearable Health Monitors Electronic Warfare & Radar 7
Slide 8: Markets, Tech, Customers
Markets, Tech, Customers Capital Markets Day May 27th, 2025 Vickram Vathulya, President & CEO
Slide 9: Two Long-Term Secular Trends
Two Long-Term Secular Trends Two “Momentum” Markets AI Acceleration mmWave adoption 1 2 Why? Why? larger training models, deep learning, higher capacity, lower latencies, lighter real-time inference payloads, threat mitigation AI datacenters Healthcare Automotive Aerospace & Industrial SATCOM Fixed
Slide 10: Why AI datacenters?
Why AI datacenters? Hyperscalers increasing CAPEX (+45%) in 2025 for datacenter infrastructure 315 2024 ($B) 2025 ($B) 225 100 80 75 77 55 60 53 40 Microsoft Meta Google Amazon Total Source: Earnings transcripts 25
Slide 11: Why more Optical Interconnects?
Why more Optical Interconnects? USD 20x faster learning, 10x lower energy per bit transfer 1bn+ SAM by 2028+ Scale-Out Scale-Up Key Point: Lasers stay external, Pluggables need to adapt, Light Source TAM increases 26
Slide 12: Scale-Up and Scale-Out in AI datacenters
Scale-Up and Scale-Out in AI datacenters This is becoming very real: Ayar Labs @ OFC 2025; NVIDIA @ GTC 2025 2025 27 Source: Ayar Labs website and OFC show, NVIDIA GTC 2025
Slide 13: Why Sivers Lasers?
Why Sivers Lasers? Performance, Light Source Economics, Reliable Production at Scale Source: Ayar Labs Light Source Production Performance Economics @ Scale • Highest precision, dense • Simplified light source • WIN Semi as merchant foundry wavelength grids assembly process partner • Largest array s
Slide 14: Why SATCOM?
Why SATCOM? Strong Market Momentum, Adopter of mmWave technology USD 0.5bn+ SAM by 2028+ GEO/MEO/LEO Satellites ↑ Defense Terminals Commercial/Enterprise Terminals Key Drivers • Satellite services moving from video on demand to ubiquitous broadband • Cellular networks increasingly see satellite broa
Slide 15: Why SATCOM?
Why SATCOM? Key Momentum Builders What’s happening in SATCOM • Multi-Orbit + Multi-Beam + Multi-Band ESAs • Key Customer making strong deployment progress Source: ALL.SPACE Website PR, March 2025 • Virtualized ground terminals (RF unit + Remote processing) • Geopolitical: US, Europe push space infra
Slide 16: Why Sivers Wireless?
Why Sivers Wireless? RF performance & Expertise, Digital Capabilities, Reliable Production at Scale Production Antenna Arrays with Beamformers RF Performance Digital Capabilities @ Scale • 3-5x more energy efficient • Digital design expertise • Global Foundries as merchant beamformers • DiFi consort
Slide 17: Lean & Agile Supply Chain
Lean & Agile Supply Chain Fabless production at scale ✓ Merchant Foundry partnerships with industry leaders ✓ Go To Market partnership with O-Net ✓ Manufacturing Capacity assured ✓ Reduced Sivers CAPEX spend ✓ Glasgow fab: Technology leadership, low volume/pilot line 32
Slide 18: Building Pipeline Discipline & Momentum
Building Pipeline Discipline & Momentum Customers & Products Prospects Wireless: ~40 targets (30% strong brands) Photonics: ~20 targets (75% strong brands) Technical Engagements Wireless: 30 engagements (30% strong brands) Photonics: 7 engagements (70% strong brands) Product Roadmap Focus Standard p
Slide 19: Concluding Remarks
Concluding Remarks Capital Markets Day May 27th, 2025 Vickram Vathulya, President & CEO
Slide 20: Why Invest in Sivers Semiconductors
Why Invest in Sivers Semiconductors A unique opportunity to participate in industry’s 2 hottest global secular trends! 2 Secular Trends + Significant revenue growth in 4-5 years 2 Momentum Markets Sizeable Market Valuation at comparable multiples1 $2B+ Serviceable Available Market 2028+ 2 Highly Dif