Sivers Semiconductors (SIVE) Q1 2025 earnings summary

Executive summary

• Achieved record quarterly revenue of SEK 78.5 million, up 40% year-over-year and 2% sequentially, with 37% growth at constant currency.

• Wireless segment sales surged 85% year-over-year to SEK 58.2 million, while Photonics declined 18% but showed product sales growth.

• Adjusted EBITDA improved to SEK -2.6 million from SEK -7.6 million, a 65% year-over-year improvement.

• Strategic transformation and major contract wins, including US CHIPS Act projects and Tier-1 telecom, expanded the opportunity pipeline.

• Product sales increased 41% year-over-year to SEK 24.6 million, reflecting a shift toward a product-driven revenue model.

Financial highlights

• Net sales reached SEK 78.5 million, up 40% year-over-year and 2% sequentially.

• Adjusted EBITDA improved to SEK -2.6 million; EBIT was SEK -26.7 million, up from SEK -35.4 million.

• Product sales accounted for 31% of total sales, consistent with the previous quarter.

• Wireless segment delivered 85% year-over-year sales growth; Photonics declined 18% but increased product sales by SEK 5 million.

• Earnings per share was SEK -0.19; equity per share SEK 4.34.

Outlook and guidance

• Product sales are expected to reach 80% of total revenue in the longer term, with wireless ramping up first and photonics following.

• Healthy order intake and expanding opportunity pipeline expected to support continued growth in 2025.

• Focus remains on disciplined R&D, innovation, and selective custom work with clear production potential.

• Board does not publish forward-looking financial forecasts.