POET · POET Technologies Inc.

POET Technologies disclosed that all purchase orders from Celestial AI, including initial production units announced in April 2023, have been cancelled. Marvell Semiconductor, which acquired Celestial AI, provided written notice on April 23, 2026, alleging that POET breached confidentiality obligations by disclosing information related to the purchase order and shipping details. This cancellation represents a significant setback for POET, as the orders were a key part of its revenue pipeline. However, the company emphasized its continued focus on strategic priorities and product development, and noted that it is fulfilling other customer orders, including a recently disclosed $5 million purchase order from another technology company. The forward-looking statements caution that the company may not be able to re-establish its relationship with Marvell and that there are risks of further order cancellations or delays.