POET Technologies Inc. (NASDAQ:POET) shares are rising Thursday. The photonic chipmaker beat estimates on both revenue and earnings in its second-quarter report and disclosed new customer orders tied to its optical chip business. Here’s what you should know.
- POET Technologies shares are trending higher. Why are POET shares climbing?
POET Beats Estimates As Revenue Growth Streak Continues
POET reported a second-quarter loss of 7 cents per share, narrower than the 8-cent loss analysts had expected and an improvement from a 21-cent loss in the same period last year. Revenue came in at almost $570,000 topping the $500,000 estimate and more than doubling the $268,469 the company generated a year earlier.
It marked the company’s sixth consecutive quarter of sequential revenue growth, with net loss narrowing to $11.3 million from $12.3 million in the first quarter. POET ended the quarter with $796.3 million in cash and short-term investments after closing a $400 million financing round in May.
CEO Suresh Venkatesan said the quarter reflected the company’s shift from development to revenue generation, pointing to the continued revenue growth, the narrower loss and an optical engine production ramp that remains on track for the second half of 2026.
POET’s Lumilens Partnership Takes Shape
That Lumilens partnership Venkatesan referenced became one of the quarter’s biggest developments. POET signed a supply agreement with Lumilens establishing a joint development and commercial partnership focused on wafer-level photonic integration for AI infrastructure. As part of that deal, Lumilens placed an initial purchase order worth $50 million for POET’s optical interposer-based engines, an order the companies said could grow into a relationship worth more than $500 million over five years.
POET backed that growth with a fresh round of capital, closing a registered direct offering during the quarter that issued 19,047,620 units at $21 each for gross proceeds of approximately $400 million, priced at a premium to the stock’s market price at the time. Each unit included a common share and a warrant exercisable at $26.25 through May 2029.
POET Shares Are Climbing
POET Price Action: POET shares were up 2.48% at $9.09 at the time of publication on Thursday, according to Benzinga Pro.
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