POET Technologies Inc. (POET) Stock: $50M AI Deal and Revenue Growth Fuel 5% Rally
TLDR
- POET stock rises 5.19% to $9.33 after stronger second-quarter earnings results.
- Q2 revenue climbs 112% year over year to $569,925, extending six straight gains.
- POET narrows its quarterly net loss to $11.3 million from $17.3 million last year.
- Lumilens places a $50 million order that could scale beyond $500 million over time.
- POET ends June with $796.3 million in cash after completing $400 million financing.
POET Technologies Inc. stock climbed 5.19% to $9.33 after stronger quarterly revenue and new commercial agreements supported Thursday’s rally. The company reported its sixth consecutive quarter of sequential revenue growth during the second quarter. Meanwhile, a $50 million Lumilens purchase order strengthened the company’s commercial outlook for AI infrastructure.
POET Technologies Revenue Rises 112% as Quarterly Loss Narrows
POET Technologies reported second-quarter revenue of $569,925, representing a 13% increase from the previous quarter. Revenue also increased 112% from $268,469 during the same quarter last year. The latest results extended the company’s sequential revenue growth streak to six quarters.
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