POET · POET Technologies Inc.

POET Technologies reported a significantly wider net loss of $12.3 million in Q1 2026 compared to net income of $6.3 million in Q1 2025, primarily driven by sharply higher operating expenses of $18.4 million versus $9.7 million, with selling, marketing and administration costs nearly tripling to $12.5 million and R&D up 29% to $5.8 million. Revenue grew modestly to $503K from $167K, reflecting early commercialization progress in optical engines. A key positive was the $150 million gross proceeds from a private placement or public offering, net $142.6 million after $7.7 million share issue costs, which funded substantial investing activities including $167.2 million net purchase of short-term investments and $15.2 million loan receivable, alongside $2.4 million property and equipment capex. Balance sheet strengthened dramatically with total assets reaching $461.8 million from $328.6 million at year-end 2025, driven by short-term investments jumping to $412.6 million, though cash dropped to $16.5 million from $40.0 million due to investing outflows. Derivative warrant liability improved to $2.6 million from $135.6 million via $1.6 million fair value gain and $131.4 million reclassification to equity warrants. MD&A highlights ongoing development of 800G/1.6T optical engines and light sources for AI data centers, with $15.9 million R&D spend in 2025 on these products and planned $30 million over next two years plus $8 million for light sources, positioning POET in high-growth AI connectivity markets amid surging demand for higher-speed transceivers.