Sivers Semiconductors (SIVE) Q4 2024 earnings summary

Executive summary

• Achieved record Q4 2024 revenue of SEK 76.7 million, up 4% year-over-year and 31% sequentially, with adjusted EBITDA of SEK 15.5 million and positive operating cash flow of SEK 13.0 million.

• Full-year 2024 revenue reached SEK 243.7 million, a 3% increase year-over-year, with improved adjusted EBITDA at SEK -15.6 million and net loss after tax of SEK -116.3 million.

• Product revenues increased to 32% of total, up 12.5 percentage points year-over-year, reflecting a strategic shift toward product-driven sales.

• Wireless segment showed 39% sequential growth in Q4, while Photonics grew 12% sequentially; both segments contributed to the revenue base.

• Strong order backlog of SEK 234 million entering 2025, with major new contracts signed in telecom, SATCOM, and under the U.S. CHIPS Act.

Financial highlights

• Q4 net sales: SEK 76.7 million (up 4% YoY, up 31% QoQ); full-year net sales: SEK 243.7 million (up 3% YoY).

• Q4 adjusted EBITDA: SEK 15.5 million (down 26% YoY, up 241% QoQ); full-year adjusted EBITDA: SEK -15.6 million (improved 21% YoY).

• Q4 EBIT: SEK -10.6 million (improved from -33.8 million YoY); full-year EBIT: SEK -127.1 million (improved from -158.6 million YoY).

• Q4 profit after tax: SEK 4.4 million (vs. -46.4 million YoY); full-year profit after tax: SEK -116.3 million (vs. -157.4 million YoY).

• Product sales in Q4 were SEK 25 million, up 93% year-over-year, and full-year product sales reached SEK 79 million, a 68% increase.

Outlook and guidance

• Entering 2025 with a strong order backlog and healthy pipeline, including SEK 234 million in secured projects and products.

• SatCom product deployments expected from H2 2025 into 2026; AI product deployments anticipated from H2 2026 into 2027.

• Focus on expanding engagements in AI acceleration, mmWave, and photonics for datacenters and SATCOM.

• The company is focused on long-term shareholder value creation, leveraging secular trends in AI acceleration and millimeter wave adoption.

• Board does not publish forward-looking financial forecasts.