Sivers Semiconductors AB (SIVE) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day, everybody, and a very warm welcome to our tremendously expanded international audience and investors. We have interest in Sievers from such a broad investor base. The agenda for today is an executive summary on the Q1 results, following which our CFO, Heine Torsgaard, will talk about the financials. I will come back. And provide a business update. Followed by key takeaways. And then we will go into Q&A. So from an executive summary perspective. Three things of note. Number one regarding 2027 and the future, we talk about our opportunity pipeline. which is a lead indicator of forward-looking revenue potential. And that has significantly expanded from an already good place at the end of 2025 to just shy of $800 million as of May. Near-term, U.S. government shutdown-related defense spending approval delays and an adverse FX impact Q1 and the first half of 2026. However, we keep our annual revenue growth plans intact for 2026. Q1 revenues came in at 61.9 million SIEC. And if you adjust for a constant FX, that's a 70 million SIEC print. Adjusted EBITDA came in at minus 13.8 million SIEC. And in order to support the opportunity pipeline, we have been proactively investing in our sales organization. And at the same time, as part of preparations for our potential US dual list, we have been investing in making sure we are ready with the ISA and the US PCAOB audit tasks. Let's look a little bit into the highlights themselves. So the opportunity pipeline strengthened significantly. That number, which is just shy of $800 million, is a 77% increase in just the last five months, over a $453 million number at the end of 2025. While defense budgets did have some approval delays, we did receive our second year U.S. CHIPS Act contract signed for the electronic warfare progra...