Sivers Semiconductors Announces Stable Q1 Revenue with 35 percent improved EBITDA and large order intake
Secured additional liquidity of approximately
KISTA,
Financial highlights:
- Q1 2024 revenue of
SEK 56 million , in line with last year revenue that had significant growth of 113%. - Adjusted EBITDA improved approx. 35% to
SEK -7.6 million (-11.7). - EBITDA improved approx. 35% to
SEK -9.5 million (-15.0). - Secured four new deals totaling approximately
$10 million (SEK 100 million ), including a Fortune 100 customer, a strategic AI photonics customer with a deal worth$1.3 million (SEK 13,5 million ), and two SATCOM deals, building Sivers' pipeline for continued growth.
Operational highlights:
- Won a new customer in AI photonics, as exciting as Ayar Labs partnership.
- Secured two significant deals in SATCOM.
- Increased demand and new business opportunities in 5G with several companies across a wide geographical spread.
-
Demonstrated advanced laser chip and array technology at the
Optical Fiber Communication Conference (OFC) inSan Diego . -
Extended partnership with strategic lead SATCOM customer in a USD
$4.73 million deal for next-generation advanced ground terminal beamformer chipset development. -
Teamed up with a strategic customer to develop photonic laser arrays enabling next-generation AI capabilities in a USD
$1.3 million deal. -
Launched a new state-of-the-art 28 GHz 5G mmWave RF Module at
Mobile World Congress 2024 inBarcelona .
"After a record year in 2023, we have started 2024 with a stable quarter,
improving EBITDA approx. 35% YoY," said
The company has also secured additional liquidity of approximately
"We are confident in our ability to continue our growth journey, with an average historical growth rate of more than 40% over the last 7 years Sivers will further grow over the coming 3 years," added Storm. "We expect accelerating growth again during second half of the year and further growth during the second part of the next three-year period, as volume production drives our organic growth and increases the share of product sales vs NRE from today's approximately 30% product sales to over 80% by the end of the period 2026."
For more information, please contact:
Tel: +46 (0)70 262 6390
E-mail: anders.storm@sivers-semiconductors.com
T
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The following files are available for download:
Sivers Q1 2024_ENG_240503_Final |
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https://mb.cision.com/Public/11695/3972021/aae6a74b24a22007.pdf |
Sivers Semiconductors Q12024 PR EN 240503 FINAL |
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