Management Commentary:
“In Q4 2025, we made a decisive transition from development to execution, supported by substantial capital inflows and growing commercial validation of our technology,” said POET Chairman & CEO, Dr.
“Importantly, we see a significant and expanding opportunity for our ELSFP (External Laser Small Form-Factor Pluggable) optical engines that extends well beyond the high-speed segment. Demand is accelerating across both high-speed and high-power applications, opening new avenues for growth as customers adopt more power-efficient, scalable optical architectures. The combination of our Blazar™ platform with the SmartFAU™, announced earlier, provides meaningful differentiation in the external light source segment and is expected to form the basis for new customer engagements this year.
“To support this growth, we are investing aggressively in talent and capabilities. In 2025, we added 30 employees across senior leadership, engineering, and technical roles, with momentum continuing into Q1 2026 through the addition of 15 more hires. We are also actively evaluating strategic acquisitions to strengthen our talent base and secure differentiated component supply, supporting a revitalized module strategy across both light source and high-speed product lines.
“The Optical Fiber Communications (OFC) Conference in
“With
Notable Business Highlights:
- Successfully completed three rounds of equity financing with new institutional investors at prices higher than prior financings, resulting in gross proceeds of
$375,000,000 .
- Received a production order valued at over
US$5 million from a leading systems integrator for a shipment of POET Infinity™ optical engines for inclusion in their optical transceiver modules.
- Collaborated with Quantum Computing Inc. to develop 400G/Lane thin-film lithium niobate (TFLN) modulator-based 3.2Tbps engines that will be designed to lead the next era of AI interconnectivity and high-speed computing applications.
Non-IFRS Financial Summary
The Company reported non-recurring engineering (“NRE”) and product revenue of
The Company reported a net loss of
The largest component of the Company’s loss was from the non-cash fair value adjustment to derivative warrant liability of
Other non-cash expenses in the fourth quarter of 2025 included stock-based compensation of
The Company recognized other income, including interest of
During the fourth quarter of 2025 the Company acquired the remaining 24.8% interest of SPX from SAIC. The acquisition of this interest resulted in a non-cash loss to the Company of
Cash flow from operating activities in the fourth quarter of 2025 was
The Company raised gross proceeds of
Summary of Financial Performance
The following is a summary of the Company’s operations over the five quarters ending
PROFORMA – NON-IFRS AND IFRS PRESENTATION OF OPERATIONS (All figures are in | |||||||||||||||
| For the Quarter ended: | |||||||||||||||
| Revenue | 341,202 | 298,434 | 268,469 | 166,760 | 29,032 | ||||||||||
| Research and development | (4,621,450 | ) | (3,735,703 | ) | (3,150,044 | ) | (4,360,192 | ) | (3,437,683 | ) | |||||
| Depreciation and amortization | (903,513 | ) | (892,704 | ) | (792,814 | ) | (726,868 | ) | (475,281 | ) | |||||
| Professional fees | (503,449 | ) | (371,413 | ) | (562,583 | ) | (276,184 | ) | (679,156 | ) | |||||
| Wages and benefits | (711,536 | ) | (675,306 | ) | (1,042,380 | ) | (2,123,274 | ) | (758,883 | ) | |||||
| Loss on acquisition of 24.8% of SPX | - | - | - | - | (6,852,687 | ) | |||||||||
| Stock-based compensation (non-cash) | (2,235,188 | ) | (1,864,589 | ) | (1,165,482 | ) | (841,793 | ) | (1,404,995 | ) | |||||
| General expenses and rent | (747,852 | ) | (497,118 | ) | (1,009,778 | ) | (898,056 | ) | (474,937 | ) | |||||
| Finance advisory fees | (4,632,236 | ) | (1,816,272 | ) | (1,302,464 | ) | (476,802 | ) | (4,239,831 | ) | |||||
| Derivative liability adjustment (non-cash) | (30,689,590 | ) | (2,414,223 | ) | (7,559,991 | ) | 15,382,971 | (12,444,661 | ) | ||||||
| Interest expense | (48,906 | ) | (31,429 | ) | (30,925 | ) | (32,786 | ) | (31,605 | ) | |||||
| Other (income), including interest | 2,502,964 | 989,007 | 533,308 | 527,782 | 511,448 | ||||||||||
| Unrealized foreign exchange loss | (422,128 | ) | 1,641,602 | (1,448,691 | ) | - | - | ||||||||
| Net loss | (42,671,682 | ) | (9,369,714 | ) | (17,263,375 | ) | 6,341,558 | (30,259,239 | ) | ||||||
| Net income (loss) per share - Basic | (0.32 | ) | (0.11 | ) | (0.21 | ) | 0.08 | (0.50 | ) | ||||||
About
POET is a design and development company offering high-speed optical modules, optical engines and light source products to the artificial intelligence systems market and to hyperscale data centers. POET’s photonic integration solutions are based on the POET Optical Interposer™, a novel, patented platform that allows the seamless integration of electronic and photonic devices into a single chip using advanced wafer-level semiconductor manufacturing techniques. POET's Optical Interposer-based products are lower cost, consume less power than comparable products, are smaller in size and are readily scalable to high production volumes. In addition to providing high-speed (800G, 1.6T and above) optical engines and optical modules for AI clusters and hyperscale data centers, POET has designed and produced novel light source products for chip-to-chip data communication within and between AI servers, the next frontier for solving bandwidth and latency problems in AI systems. POET’s Optical Interposer platform also solves device integration challenges in 5G networks, machine-to-machine communication, self-contained “Edge” computing applications and sensing applications, such as LIDAR systems for autonomous vehicles. POET is headquartered in
| Media Relations Contact: Adrian.brijbassi@poet.tech | Company Contact: tm@poet.tech |
Forward-Looking Statements
This news release contains “forward-looking information” (within the meaning of applicable Canadian securities laws) and “forward-looking statements” (within the meaning of the
Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management’s expectations regarding the success and timing for completion of its development efforts, the introduction of new products, financing activities, future growth, recruitment of personnel, opening of offices, the form and potential of its joint venture, plans for and completion of projects by the Company’s consultants, contractors and partners, availability of capital, the necessity to incur capital and other expenditures and the response by customers to marketing efforts, including public conferences and exhibitions. Actual results could differ materially due to a number of factors, including, without limitation, the failure of its products to meet performance requirements, lack of sales in its products, once released, operational risks in the completion of the Company’s anticipated projects, lack of performance of its joint venture, the ability of the Company to generate sales for its products, the ability to attract key personnel, the ability to raise additional capital and a lack of response from customers to marketing efforts, including public conferences and exhibitions. Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company’s securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements except as required by law.
