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POET Technologies ( (TSE:PTK) ) has shared an update.
POET Technologies reported its fourth-quarter 2024 financial results, highlighting strategic advancements and a strengthened financial foundation aimed at accelerating growth. The company raised $25 million through a direct offering, reflecting strong investor confidence. POET’s acquisition of Super Photonics Xiamen Co., Ltd, and the shift of manufacturing to Malaysia, are expected to reduce geopolitical risks and optimize the supply chain. The company is poised for significant revenue growth in 2025, driven by existing contracts with industry leaders and an expanding presence in telecom systems and chip-to-chip data communications applications.
More about POET Technologies
POET Technologies Inc. is a designer and developer of Photonic Integrated Circuits, light sources, and optical modules, primarily serving the AI and data center markets.
YTD Price Performance: -37.44%
Average Trading Volume: 1,566,562
Technical Sentiment Signal: Buy
Current Market Cap: $285.8M
See more data about PTK stock on TipRanks’ Stock Analysis page.
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