Sivers Semiconductors AB (SIVE.ST) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day to everybody, and welcome to the second quarter of 2026 Earnings Webcast with Seaver Semiconductors. My name is Vikram Batulia. I'm the CEO, and I'm joined by Heine Torsgaard, who is our CFO. The agenda is as follows. I start with an executive summary, then I will hand it over to Heine for financial results and a deeper dive. and then I'll come back for a business update followed by key takeaways and then we'll open up the floor for Q&A where people can submit written questions. Our opportunity pipeline has expanded to $1.2 billion as of July 2026. Our second quarter revenues came in at 53.8 million SIEC or 55.6 at ConstantFX and our adjusted EBITDA came in at negative 35.5 million SEIC. Software H1 2026 financials as indicated. Our product revenue was up 18% year on year at ConstantFX. In addition to the government related delays that we talked about last time, we have made a conscious resource shift by prioritizing product ramps versus NRE. And our revenue inflection is expected in Q4 of 2026. Moving on to highlights, exceptional opportunity pipeline momentum continues. The July 2026 pipeline at $1.2 billion is a 268% increase from the end of 2025. We've also identified $4 billion of new serviceable addressable market for our semiconductor optical amplifiers for use in optical circuit switches inside AI data centers. We are executing well on multiple product ramps for 2026, 2027. Production bills are ongoing for Tachyon networks. We have now received production orders from Allspace and initial program orders from Seminex. Production orders are imminent for our LiDAR customer and solid prospects are emerging for revenue from pluggables in 2027. We have made an important strategic shift for our photonics business from a fab light to a hybrid manufacturing mo...