POET Technologies Reports First Quarter 2026 Financial Results
TORONTO, Could 14, 2026 (GLOBE NEWSWIRE) — POET Applied sciences Inc. (“POET” or the “Firm”) (NASDAQ: POET), the designer and developer of Photonic Built-in Circuits (PICs), gentle sources and optical modules for the AI and information middle markets, right now reported its unaudited condensed consolidated monetary outcomes for the primary quarter ended March 31, 2026. The Firm’s monetary outcomes in addition to the Administration Dialogue and Evaluation have been filed on SEDAR+. All monetary figures are in United States {dollars} (“USD”) until in any other case indicated.
Administration Commentary:
“In the course of the first quarter of 2026, we made important progress in increasing POET’s strategic place inside the AI and hyperscale information middle ecosystem,” stated Dr. Suresh Venkatesan, Chairman & CEO of POET Applied sciences. “Our partnerships with business leaders equivalent to LITEON, Lessengers and Lumilens validate the rising demand for POET’s Optical Interposer platform and our means to allow next-generation photonic integration options.
The joint improvement settlement with Lumilens, together with an preliminary $50 million buy order for EOI-based optical engines, represents an vital industrial milestone for the Firm and establishes the framework for what we imagine may turn out to be a considerable long-term provider relationship supporting frontier AI infrastructure.”
“We additionally continued to advance our product roadmap by the joint improvement of a 1.6T transceiver platform with Lessengers, whereas strengthening our international market place by our collaboration with LITEON. Mixed with our plan to domicile our headquarters within the U.S., these initiatives additional align POET with the evolving necessities of shoppers, companions and buyers as demand for AI networking infrastructure accelerates.”
Notable Enterprise Highlights:
- Introduced a strategic collaboration with LITEON Expertise, one of many world’s main suppliers of optoelectronic semiconductor parts and high-power optical programs. The partnership goals to co-develop next-generation optical communication modules constructed on POET’s patented optical interposer know-how and integration platform.
- Introduced the joint improvement of a 1.6T 2×DR4 optical transceiver module designed for next-generation AI clusters and hyperscale information middle networks with Lessengers.
- Introduced its intention to maneuver the Firm’s headquarters to and domicile the Firm within the U.S. so that it’s going to now not be a overseas company, which might remove the potential of the Firm being labeled as a PFIC in future years.
- Entered right into a provide settlement that establishes a strategic joint improvement and industrial know-how partnership to advance a brand new class of wafer-level photonic integration for frontier AI infrastructure. The provision settlement between Lumilens and the Firm establishes a industrial framework to assist the joint improvement program, and, as a part of that framework, Lumilens has positioned an preliminary buy order with the Firm for the manufacturing of EOI-based engines valued at $50 million. This buy order represents the primary part of a broader provider relationship that would scale to $500+ million in cumulative purchases from the Firm over 5 years.
Non-IFRS Monetary Abstract
The Firm reported non-recurring engineering (“NRE”) and product income of $503,389 within the first quarter of 2026 in comparison with $166,760 for a similar interval in 2025 and $341,202 within the fourth quarter of 2025. Traditionally, the Firm offered NRE providers to a number of clients for distinctive initiatives which can be being addressed using the capabilities of the POET Optical Interposer.
The Firm reported a internet lack of $12.3 million, or ($0.08) per share, within the first quarter of 2026 in contrast with a internet earnings of $6.3 million, or 0.08 per share, for a similar interval in 2025 and a internet lack of $42.7 million, or ($0.32) per share, within the fourth quarter of 2025. The web earnings within the first quarter of 2026 included analysis and improvement prices of $4.5 million in comparison with $4.3 million for a similar interval in 2025 and $4.6 million within the fourth quarter of 2025. Fluctuations in R&D for a Firm of this measurement and this stage of progress is anticipated on a period-over-period foundation because the Firm transitions from know-how improvement to product improvement.
The biggest element of the Firm’s earnings within the first quarter of 2025 was from the non-cash acquire in truthful worth adjustment to spinoff warrant legal responsibility of $15.4 million. The spinoff legal responsibility adjustment within the first quarter of 2026 was a acquire of $1.6 million. The Firm reported a lack of $30.7 million within the fourth quarter of 2025. This non-cash merchandise pertains to warrants issued in a overseas foreign money and is periodically remeasured.
Different non-cash bills within the first quarter of 2026 included stock-based compensation of $3.4 million and depreciation and amortization of $1.0 million. Non-cash stock-based compensation and depreciation and amortization in the identical interval of 2025 have been $0.8 million and $0.7 million, respectively. Fourth quarter 2025 stock-based compensation and depreciation and amortization have been $2.2 million and $0.9 million, respectively. The Firm had non-cash finance prices of $47,000 within the first quarter of 2026 in comparison with non-cash finance prices of $33,000 within the first quarter of 2025 and non-cash prices of $49,000 within the fourth quarter of 2025.
The Firm acknowledged different earnings, together with curiosity of $4.0 million within the first quarter of 2026, in comparison with $528,000 in the identical interval in 2025 and $2.5 million within the fourth quarter of 2025.
Money circulation from working actions within the first quarter of 2026 was ($8.8) million in comparison with ($8.9) million within the first quarter of 2025 and ($11.6) million within the fourth quarter of 2025.
Abstract of Monetary Efficiency
The next is a abstract of the Firm’s operations over the 5 quarters ending March 31, 2026. This info must be learn at the side of the Firm’s monetary statements filed on Sedar+ on Could 14, 2026.
| POET TECHNOLOGIES INC. PROFORMA – NON-IFRS AND IFRS PRESENTATION OF OPERATIONS (All figures are in U.S. {Dollars}) |
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| For the Quarter ended: | 31-Mar-26 | 31-Dec-25 | 30-Sep-25 | 30-Jun-25 | 31-Mar-25 | |||||||
| Income | 503,389 | 341,202 | 298,434 | 268,469 | 166,760 | |||||||
| Analysis and improvement | (4,499,556 | ) | (4,621,450 | ) | (3,735,703 | ) | (3,150,044 | ) | (4,360,192 | ) | ||
| Depreciation and amortization | (957,700 | ) | (903,513 | ) | (892,704 | ) | (792,814 | ) | (726,868 | ) | ||
| Skilled charges | (320,430 | ) | (503,449 | ) | (371,413 | ) | (562,583 | ) | (276,184 | ) | ||
| Wages and advantages | (4,046,941 | ) | (711,536 | ) | (675,306 | ) | (1,042,380 | ) | (2,123,274 | ) | ||
| Inventory-based compensation | (3,486,766 | ) | (2,235,188 | ) | (1,864,589 | ) | (1,165,482 | ) | (841,793 | ) | ||
| Common bills and lease | (1,809,654 | ) | (747,852 | ) | (497,118 | ) | (1,009,778 | ) | (898,056 | ) | ||
| Finance advisory charges | (3,252,500 | ) | (4,632,236 | ) | (1,816,272 | ) | (1,302,464 | ) | (476,802 | ) | ||
| By-product legal responsibility adjustment | 1,602,298 | (30,689,590 | ) | (2,414,223 | ) | (7,559,991 | ) | 15,382,971 | ||||
| Curiosity expense | (46,517 | ) | (48,906 | ) | (31,429 | ) | (30,925 | ) | (32,786 | ) | ||
| Different (earnings), together with curiosity | 3,970,291 | 2,502,964 | 989,007 | 533,308 | 527,782 | |||||||
| Unrealized overseas alternate loss | – | (422,128 | ) | 1,641,602 | (1,448,691 | ) | – | |||||
| Internet loss | (12,344,086 | ) | (42,671,682 | ) | (9,369,714 | ) | (17,263,375 | ) | 6,341,558 | |||
| Internet earnings (loss) per share – Primary | (0.08 | ) | (0.32 | ) | (0.11 | ) | (0.21 | ) | 0.08 | |||
| Internet earnings (loss) per share – Diluted | (0.08 | ) | (0.32 | ) | (0.11 | ) | (0.21 | ) | 0.08 | |||
About POET Applied sciences Inc.
POET is a design and improvement firm providing high-speed optical modules, optical engines and light-weight supply merchandise to the unreal intelligence programs market and to hyperscale information facilities. POET’s photonic integration options are based mostly on the POET Optical Interposer™, a novel, patented platform that enables the seamless integration of digital and photonic gadgets right into a single chip utilizing superior wafer-level semiconductor manufacturing methods. POET’s Optical Interposer-based merchandise are decrease price, devour much less energy than comparable merchandise, are smaller in measurement and are readily scalable to excessive manufacturing volumes. Along with offering high-speed (800G, 1.6T and above) optical engines and optical modules for AI clusters and hyperscale information facilities, POET has designed and produced novel gentle supply merchandise for chip-to-chip information communication inside and between AI servers, the following frontier for fixing bandwidth and latency issues in AI programs. POET’s Optical Interposer platform additionally solves gadget integration challenges in 5G networks, machine-to-machine communication, self-contained “Edge” computing functions and sensing functions, equivalent to LIDAR programs for autonomous automobiles. POET is headquartered in Toronto, Canada, with operations in Allentown, PA, Shenzhen, China, and Singapore. Extra details about POET is offered on our web site at http://www.poet-technologies.com.
Ahead-Wanting Statements
This information launch incorporates “forward-looking info” (inside the that means of relevant Canadian securities legal guidelines) and “forward-looking statements” (inside the that means of the U.S. Personal Securities Litigation Reform Act of 1995). Such statements or info are recognized with phrases equivalent to “anticipate”, “imagine”, “count on”, “plan”, “intend”, “potential”, “estimate”, “suggest”, “mission”, “outlook”, “foresee” or related phrases suggesting future outcomes or statements relating to any potential consequence. Such statements embrace the Firm’s expectations with respect to its transfer of manufacturing capability from China to Malaysia, the power of its companions to put in and function manufacturing tools, the response of shoppers and companions to the Firm’s product choices, the success of the Firm’s product improvement efforts, the efficiency of its merchandise, the anticipated outcomes of its operations, assembly income targets, and the expectation of continued success within the financing efforts, the aptitude, performance, efficiency and price of the Firm’s know-how in addition to the market acceptance, inclusion and timing of the Firm’s know-how in present and future merchandise and expectations for approval of proposals on the Firm’s annual assembly of shareholders.
Such forward-looking info or statements are based mostly on quite a few dangers, uncertainties and assumptions which can trigger precise outcomes or different expectations to vary materially from these anticipated and which can show to be incorrect. Assumptions have been made relating to, amongst different issues, administration’s expectations relating to its transfer of manufacturing capability from China to Malaysia, the power of its companion to fulfill manufacturing expectations, the response of shoppers and companions to the Firm’s product choices, the success and timing for completion of its improvement efforts, the introduction of recent merchandise, financing actions, future progress, recruitment of personnel, opening of workplaces, the shape and potential of its three way partnership, plans for and completion of initiatives by the Firm’s consultants, contractors and companions, availability of capital, and the need to incur capital and different expenditures. Precise outcomes may differ materially because of quite a few elements, together with, with out limitation, the failure to realize excessive quantity manufacturing in Malaysia on time, the failure of its merchandise to fulfill efficiency necessities or to be produced in Malaysia on time and funds, the shortage of gross sales in its merchandise, as soon as launched, operational dangers within the completion of the Firm’s anticipated initiatives, dangers affecting the Firm’s means to execute initiatives, the power of the Firm to generate gross sales for its merchandise, the power to draw key personnel, the power to lift extra capital and the settlement by shareholders to approve proposals put forth by the Firm at shareholders’ conferences. Though the Firm believes that the expectations mirrored within the forward-looking info or statements are affordable, potential buyers within the Firm’s securities shouldn’t place undue reliance on forward-looking statements as a result of the Firm can present no assurance that such expectations will show to be appropriate. Ahead-looking info and statements contained on this information launch are as of the date of this information launch and the Firm assumes no obligation to replace or revise this forward-looking info and statements besides as required by regulation.
Neither TSX Enterprise Change nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts accountability for the adequacy or accuracy of this launch.
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