POET Technologies jumps after receiving $5 million order for its optical engines from a “leading systems integrator”
POET Technologies is soaring after the optical communications company announced that it has received a more than $5 million order for its POET Infinity optical engines from “a leading systems integrator that will manufacture and sell optical transceiver modules.”
This serves to validate some of the recent retail interest in the company, which is looking to carve out a niche in the AI boom with a suite of offerings that aim to speed the transmission of data in data centers.
POET has generated under $2 million in revenues since the end of 2018, so the order will singlehandedly serve as a massive inflection point for its top line. Management expects to ship these optical engines in the second half of next year.
“I think we’re starting to not be a pre-revenue company soon, and I think as we get into that phase of our business, things will be even better than they are today,” POET Executive Chairman and CEO Dr. Suresh Venkatesan recently told Sherwood News.
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