Sivers Semiconductors (SIVE) Q3 2025 earnings summary

Executive summary

• Q3 2025 delivered record revenue of SEK 72.5 million, up 24% year-over-year, with 34% year-to-date growth and strong Wireless segment performance.

• Adjusted EBITDA improved by 30% year-to-date, reaching negative SEK 21.6 million, reflecting progress toward profitability.

• Product revenues rose 15% year-over-year in Q3 and 19% year-to-date, supporting the transformation to a product-focused business.

• Strategic partnership with Poet Technologies expands addressable markets in AI data centers and co-packaged optics.

• Successful SEK 95 million oversubscribed share issue in September to fund R&D and market expansion.

Financial highlights

• Q3 net sales: SEK 72.5 million, a 24% year-over-year increase and the highest Q3 revenue in company history.

• Wireless net sales grew 30% year-over-year to SEK 53.1 million; Photonics net sales increased 10% to SEK 19.4 million.

• NRE revenue up 27% year-over-year in Q3 and 41% year-to-date, driven by disciplined project execution.

• Adjusted EBITDA for Q3 was negative SEK 10.5 million, with a year-to-date improvement of SEK 9.5 million.

• Cash and cash equivalents at period end: SEK 73.5 million.

Outlook and guidance

• Management maintains guidance of 20–30% aggregate growth rates over the next five years, supported by a robust pipeline.

• Product sampling in Q4 and Q1 for photonics, and Q1 and Q2 for wireless, expected to drive future growth.

• Allspace defense deployments expected to ramp up in 2026, with broader market expansion into 2027.

• Continued growth anticipated in 2025, 2026, and 2027, based on current pipeline and customer qualification cycles.

• No forward-looking financial forecasts published.