POET Technologies Reports Revenue, Margin Gains
Photonic integrated circuit (PIC) and optoelectronics manufacturer POET Technologies has reported its audited condensed consolidated financial results for the full year ended December 31, 2017. Highlights include substantial revenue growth and gross margins above 50 percent. The company's financial results as well as the management discussion and analysis have been filed on SEDAR.
2017 and Recent Highlights:
- Revenue increased 50 percent year-on-year to US$2.79 million and gross margin expanded to 52%;
- Introduced new datacom and sensing products, including distributed feedback (DFB) lasers for the datacom market and a new family of narrow linewidth (NLW) lasers for the distributed acoustic sensing (DAS) market;
- Was granted 6 patents and submitted another 6 new applications in 2017, bringing the total granted to 57 and the number of pending patent applications to 12;
- Appointed three highly-experienced members to the Board of Directors within the last seven months: Jean-Louis Malinge, Don Listwin and Peter Charbonneau;
- Announced the Optical InterposerTM platform, which leverages POET's dielectric waveguide technology to facilitate the co-packaging of electronics and optics in a single multi-chip module;
- Successfully demonstrated a high-frequency waveguide integrated PIN Photodiode targeting 100G and 400G optical transceivers for data center applications;
- Signed a Memorandum of Understanding (MOU) with Accelink for the co-development, qualification and sales of a family of transceiver products based on POET's Optical InterposerTM platform;
- Completed a successful "bought deal" public offering in March 2018, resulting in gross proceeds of approximately US10.8 million (C$13.8 million); and
- Entered into a master collaboration agreement with SilTerra, a Malaysia-based semiconductor wafer foundry, for the co-development of certain fabrication processes and the manufacturing of POET's Optical Interposer platform.