POET · POET Technologies Inc.

POET Technologies' Q4 2025 results reflect a pivotal shift from development to execution, as articulated by CEO Dr. Suresh Venkatesan, bolstered by $225 million in equity financing during the quarter and an additional $150 million in January 2026. Revenue from non-recurring engineering and products rose to $341,202 from $29,032 year-over-year, signaling initial commercial traction amid scaling efforts. However, the net loss widened to $42.7 million from $30.2 million in Q4 2024, driven primarily by a $30.6 million non-cash derivative warrant liability adjustment tied to stock price appreciation and new issuances—now mitigated by repricing warrants to USD equivalents post-year-end. R&D expenses increased to $4.6 million from $3.4 million YoY, aligning with the transition to product development and manufacturing readiness in Malaysia for light sources in Q2 2026 and 800G optical engines in Q3. Key milestones include a $5 million+ production order for POET Infinity™ engines and full acquisition of SPX for $6.9 million non-cash loss, enhancing supply chain control. With $430 million in cash, POET anticipates shipping over 30,000 engines in 2026, revenue from module partnerships, and growth in ELSFP engines for AI-driven architectures, positioning for sustained revenue conversion from a robust pipeline.