Sivers Semiconductors Reports Q2 2024 Results: Strategic Growth and Key 5G Design Wins

Sivers Semiconductors Announces Q2 Results: Strategic Growth and Key 5G Design Wins, Including a Major Global Company

KISTA, Sweden, July 18, 2024 /PRNewswire/ -- Sivers Semiconductors AB SIVE, a leading supplier of integrated chips and modules for advanced communications and sensor solutions for AI Photonics, SATCOM, and 5G/6G, today announced its second-quarter results for the fiscal year 2024. The company demonstrated continued growth, securing significant new orders and improving its financial performance. Financial Highlights: Q2 2024 revenue of SEK 52,3 million, a 14% increase from SEK 45,8 million in Q2 2023.Adjusted EBITDA improved by 25% to SEK -12,4 million from SEK -16,6 million in Q2 2023.EBITDA improved by 28% to SEK -14,8 million from SEK -20,6 million in Q2 2023. Operational Highlights: Secured three important 5G design wins, including a major global company. These three projects have a potential combined sales of approximately one million units of 5G products over the first three years of production, starting in 2026. We anticipate a substantial upside to this projection depending on our customers' success in their end markets.Product sales grew from 15% to 39% of total sales, representing 50% of the target of over 80% product sales by 2026.Strengthened the pipeline with substantial new orders, positioning the company for accelerated growth in the second half of the year. CEO Comments: "The growth journey continues," said Anders Storm, Group CEO of Sivers Semiconductors. "Despite a planned pause in growth during the first half of 2024, it is very gratifying that we managed to achieve significant sales growth compared to the same period last year. This stability lays a solid foundation for a robust full year in 2024." "Extra gratifying is that product sales have grown significantly, making up 39 percent of our total sales, which represents 50 percent of our 2026 target of over 80 percent. The three 5G design wins, including a major global company, underscore our leadership and innovation in this critical technology area." Strategic Outlook: Sivers Semiconductors continues to focus on expanding its footprint in the 5G, SATCOM, and AI Photonics markets. The company's participation in key industry events and strategic partnerships positions it well for sustained growth. "The wireless business unit is leading the way in this growth with 26 percent growth year-over-year, and winning three new design awards in 5G since the last quarter shows that Sivers keeps our great overall positive momentum. We expect clearly stronger growth in the second half of 2024," added Storm. "Our strategic initiatives and investments in cutting-edge technology are yielding results, and we are confident in our ability to continue delivering value to our stakeholders." For more information, please contact: Anders Storm, Group CEO of Sivers Semiconductors Tel: +46 (0)70 262 6390 E-mail: [email protected] This disclosure contains information that Sivers Semiconductors is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the contact person set out above, on July 18, 2024 at 08:00 CET. Sivers Semiconductors AB (SIVE.ST) is a leader in SATCOM, 5G, 6G, Photonics, and Silicon Photonics that drives innovation in global communications and sensor technology. Our business units, Photonics and Wireless, supply cutting-edge, integrated chips and modules critical for high-performance gigabit wireless and optical networks. Catering to a broad spectrum of industries from telecommunication to aerospace, we fulfill the increasing demand for computational speed and AI application performance, replacing electric with optical connections for a more sustainable world. Our wireless solutions are forging paths in advanced SATCOM/5G/6G systems, while our photonics expertise is revolutionizing custom semiconductor photonic devices for optical networks and optical sensing, making us a trusted partner to Fortune 100 companies as well as emerging unicorns. With innovation at our core, Sivers Semiconductors is committed to delivering bespoke, high-performance solutions for a better-connected and safer world. Discover our passion for perfection at www.sivers-semiconductors.com. This information was brought to you by Cision http://news.cision.com https://news.cision.com/sivers-semiconductors/r/sivers-semiconductors-announces-q2-results--strategic-growth-and-key-5g-design-wins--including-a-maj,c4015875 The following files are available for download: SOURCE Sivers Semiconductors Market News and Data brought to you by Benzinga APIs

Sivers Semiconductors Announces Q2 Results: Strategic Growth and Key 5G Design Wins, Including a Major Global Company - Silver Verde May (OTC:SIVE)

KISTA, Sweden, July 18, 2024 /PRNewswire/ -- Sivers Semiconductors AB SIVE, a leading supplier of integrated chips and modules for advanced communications and sensor solutions for AI Photonics, SATCOM, and 5G/6G, today announced its second-quarter results for the fiscal year 2024. The company demonstrated continued growth, securing significant new orders and improving its financial performance. Financial Highlights: Q2 2024 revenue of SEK 52,3 million, a 14% increase from SEK 45,8 million in Q2 2023.Adjusted EBITDA improved by 25% to SEK -12,4 million from SEK -16,6 million in Q2 2023.EBITDA improved by 28% to SEK -14,8 million from SEK -20,6 million in Q2 2023. Operational Highlights: Secured three important 5G design wins, including a major global company. These three projects have a potential combined sales of approximately one million units of 5G products over the first three years of production, starting in 2026. We anticipate a substantial upside to this projection depending on our customers' success in their end markets.Product sales grew from 15% to 39% of total sales, representing 50% of the target of over 80% product sales by 2026.Strengthened the pipeline with substantial new orders, positioning the company for accelerated growth in the second half of the year. CEO Comments: "The growth journey continues," said Anders Storm, Group CEO of Sivers Semiconductors. "Despite a planned pause in growth during the first half of 2024, it is very gratifying that we managed to achieve significant sales growth compared to the same period last year. This stability lays a solid foundation for a robust full year in 2024." "Extra gratifying is that product sales have grown significantly, making up 39 percent of our total sales, which represents 50 percent of our 2026 target of over 80 percent. The three 5G design wins, including a major global company, underscore our leadership and innovation in this critical technology area." Strategic Outlook: Sivers Semiconductors continues to focus on expanding its footprint in the 5G, SATCOM, and AI Photonics markets. The company's participation in key industry events and strategic partnerships positions it well for sustained growth. "The wireless business unit is leading the way in this growth with 26 percent growth year-over-year, and winning three new design awards in 5G since the last quarter shows that Sivers keeps our great overall positive momentum. We expect clearly stronger growth in the second half of 2024," added Storm. "Our strategic initiatives and investments in cutting-edge technology are yielding results, and we are confident in our ability to continue delivering value to our stakeholders." For more information, please contact: Anders Storm, Group CEO of Sivers Semiconductors Tel: +46 (0)70 262 6390 E-mail: [email protected] This disclosure contains information that Sivers Semiconductors is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the contact person set out above, on July 18, 2024 at 08:00 CET. Sivers Semiconductors AB (SIVE.ST) is a leader in SATCOM, 5G, 6G, Photonics, and Silicon Photonics that drives innovation in global communications and sensor technology. Our business units, Photonics and Wireless, supply cutting-edge, integrated chips and modules critical for high-performance gigabit wireless and optical networks. Catering to a broad spectrum of industries from telecommunication to aerospace, we fulfill the increasing demand for computational speed and AI application performance, replacing electric with optical connections for a more sustainable world. Our wireless solutions are forging paths in advanced SATCOM/5G/6G systems, while our photonics expertise is revolutionizing custom semiconductor photonic devices for optical networks and optical sensing, making us a trusted partner to Fortune 100 companies as well as emerging unicorns. With innovation at our core, Sivers Semiconductors is committed to delivering bespoke, high-performance solutions for a better-connected and safer world. Discover our passion for perfection at www.sivers-semiconductors.com. This information was brought to you by Cision http://news.cision.com https://news.cision.com/sivers-semiconductors/r/sivers-semiconductors-announces-q2-results--strategic-growth-and-key-5g-design-wins--including-a-maj,c4015875 The following files are available for download: SOURCE Sivers Semiconductors Market News and Data brought to you by Benzinga APIs

Sivers Semiconductors : Q2 2024

The company managed to grow sales by 14 percent to SEK 52.3 million compared to SEK 45.8 million year-on- year, following very strong growth of 68 percent last year. The wireless business unit is leading the way in this growth with 26 percent and winning three new design awards in 5G since the last quarter shows that Sivers keeps our great overall positive momentum. As previously announced, the growth rate can vary over the quarters depending on when larger orders are delivered, however we expect significantly stronger growth in the second half of 2024. It is especially gratifying that product sales have grown from 15 percent of total sales to 39 percent, which is halfway to our target of over 80 percent by 2026. We also improved the adjusted EBITDA result by 25 percent to SEK -12.4(-16.6) million, and the EBITDA result by 28 percent to SEK -14.8(-20.6) million. 5G is gaining traction and since the last report, we have won three new 5G customers, including an NRE order from a well-known Japanese technology provider. In addition, we won an interesting new project for train connectivity with Blu Wireless, and last but not least we won a 5G design award for fixed wireless customer access units from a major global company. These three projects have a potential combined sales of approximately one million units of 5G products over the first three years of production, starting in 2026. We anticipate a substantial upside to this projection depending on our customers' success in their end markets. Sivers Photonics' operations grew by 2% during the second quarter. Our most important project in Photonics with e.g. our US Fortune 100 customer and AI Photonics customer project with Ayar Labs as well as our new customer from the first quarter continue according to plan and are expected to lead on to new projects in the second half of 2024. The company has had a fantastic development in recent years and after eight years as CEO I feel both pride and gratitude for our joint journey. When I took over as CEO in 2016, the annual revenue was SEK 18 million and in 2023 we reached SEK 236 million, an increase of 13 times with 80% growth in 2023. This shows the company's great success that has come through hard work, innovation and strong customer engagement. Our technologies in AI, Photonics and high-speed communication continue to drive the industrial revolution. We are only at the beginning of Siver's journey as our technology only becomes more and more relevant each year.