POET Technologies Inc
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Why this colour
Yellow here marks an open operating question, not a substance risk: the balance sheet is sound — $429.1 million of liquid assets against $13.1 million of liabilities (March 31, 2026), no need for credit lines, no going-concern paragraph left in the statements, and the 2024 control weakness remediated and attested. What is missing is proof that anyone buys this technology in volume: $1.07 million of annual revenue, mostly one-off engineering work, and the only production order in company history was cancelled in April 2026. That the stock trades at roughly 1,085 times annual revenue (market value $1.17 billion, data as of July 28, 2026) is a price argument and does not move the light — it only changes how little room for disappointment remains. This turns green once two or three consecutive quarters show announcements becoming shipments. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
POET Technologies is the blueprint trap in its purest form: a plausible, patented technology for a genuinely growing market — and next to it an income statement in which $1,074,865 of 2025 revenue meets $43.17 million of operating expenses. The balance sheet is exceptional, with $429.1 million of liquid assets (March 31, 2026) plus $400 million from the May offering, and it was paid for by doubling the share count to 172.6 million. The most important order in company history was cancelled in April 2026 because the customer accuses POET of breaching confidentiality; for 2025 U.S. tax law treats the company as a passive investment vehicle. Anyone buying in buys time and an expectation — both available in abundance, just not yet sold. Not investment advice.
Financial strength
As of March 31, 2026 the company held $429.1 million of liquid assets ($16.5 million of cash plus $412.6 million of guaranteed investment certificates) against $13.1 million of total liabilities; $400 million gross was added on May 18, 2026. At roughly $9 million of quarterly operating cash burn, funding is secured for years without any bank debt.
Commercial proof
2025 revenue of $1,074,865 against $43.17 million of operating expenses — arithmetically nine days of operating costs. It comes mostly from one-off engineering services. Volume production is only meant to begin in the second half of 2026; the annual report concedes the product "may never gain widespread acceptance by large data center operators".
Customer commitment
Marvell Semiconductor cancelled every order from the first production contract, announced in 2023, on April 23, 2026 — alleging that POET had breached its confidentiality obligations. The annual report itself states that customers are not committed beyond firm purchase orders. The Lumilens order of $50 million (May 14, 2026) is so far an announcement, not booked revenue.
Dilution
From 76,507,157 shares (January 1, 2025) to 172,590,000 (June 26, 2026), and 238.1 million fully exercised — up to 261.0 million counting the warrant on 22,921,408 shares that POET granted its customer Lumilens on May 14, 2026. Net tangible book value was $2.94 per share as of March 31, 2026 and $4.92 after the offering, against a $21.00 offering price in May — the prospectus itself puts the immediate dilution to the new investor at $16.08 per share.
Accounting & governance
The material weakness identified for 2024 is deemed remediated as of December 31, 2025, the auditors issued an unqualified opinion and were confirmed with 97 percent of votes on June 26, 2026. Three items remain open: the PFIC status for 2025 with the resolved U.S. redomiciliation (for 2026 POET expects no PFIC status), $30 million lent to a borrower the filings never name, and a legal action pending after March 31, 2026 that the interim statements merely mention and assess as not material, without naming party or subject.
Worth Noting
This analysis did not start from a scanner hit — POET appeared in none of our scanner lists as of July 29, 2026 — but from the SEC filing stream: the cancellation of all Marvell purchase orders on April 27, 2026 and the $400 million offering of May 15/18, 2026.
Data basis: annual figures from the 20-F for 2025 (December 31, 2025), interim figures from the statements as of March 31, 2026, share count from the 6-K of June 30, 2026. Fundamental data as of July 29, 2026.
The market value from fundamental data ($1,166,708,480) was checked against the filings and passed: the share count it carries, 172,590,000, is exactly what POET reported for its annual meeting of 06/26/2026, and 172,595,406 shares from the prospectus supplement × $6.76 closing price of 07/28/2026 gives $1,166,744,945 — a deviation of 0.003 percent. The article therefore uses it as a dated anchor (as of 07/28/2026).
The older filing prices ($8.37 on 01/21/2026, $5.93 on 03/20/2026, $20.57 on 05/14/2026, $15.97 on 05/15/2026) are historical anchors and expressly not today's valuation. The stock has fallen well below the May offering price of $21.00; that gap is named in the dilution chapter as a documented finding, not as a forecast.
Easy to confuse: POET Technologies is a Canadian corporation reporting as a foreign private issuer (20-F, 6-K). No U.S. quarterly report (10-Q) exists; anyone searching for one finds nothing and wrongly concludes the company is opaque. Its former SEC name is OPEL International Inc. Second trap: older press releases still carry "TSX Venture: PTK" in the header — per the 20-F for 2025 the Canadian listing already ended in 2024, and the shares trade only on Nasdaq.
Second pitfall, on net tangible book value: the $2.94 per share in the prospectus supplement of 05/18/2026 is expressly the "historical" figure as of 03/31/2026 — before the $400 million offering and calculated on 152.9 million shares. The same table gives $4.92 per share for the period after it. Comparing the 07/28/2026 price against the $2.94 would make the stock look dearer relative to its substance than it is; the article therefore works with $4.92 (roughly 1.4 times).
Dilution pitfall in this analysis: the prospectus supplement of 05/18/2026 lists options, warrants and share units with a weighted-average warrant exercise price of $4.39 — exactly the 03/31/2026 position. The warrant on up to 22,921,408 shares at $8.25 that POET granted its customer Lumilens on 05/14/2026 is not included there. The fully diluted share count is therefore up to 261.0 million, not 238.1 million.
The whole price chain — $8.37 (January 21, 2026), $5.93 (March 20, 2026), $20.57 (May 14, 2026), $15.97 (May 15, 2026), $6.76 (July 28, 2026) — is dated and documented; it appears in the article as evidence of how the price forms, not as a price forecast.
Stock Watch
This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at POET since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 4.20 $ to 20.60 $ · Last price: 7.50 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Semiconductors
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| POET Technologies Inc POET | 1.3 | – | -7.9 | 100.0 | -3,550.0 | 2,494.6 | 46.1 |
| NVIDIA Corporation NVDA | 5,540.3 | 30.4 | 22.4 | 74.7 | 65.6 | 65.5 | 29.1 |
| Broadcom Inc AVGO | 1,652.3 | 55.2 | 33.7 | 75.5 | 49.0 | 23.9 | 1.1 |
| Micron Technology Inc MU | 1,269.8 | 20.7 | 15.8 | 72.6 | 80.4 | 48.9 | 512.0 |
| Advanced Micro Devices Inc AMD | 943.2 | 177.7 | 77.8 | 55.7 | 14.4 | 34.3 | 242.5 |
| Intel Corporation INTC | 546.8 | – | 145.4 | 38.9 | 6.9 | -0.5 | 337.0 |
| Arm Holdings plc ARM | 282.9 | 267.6 | 221.2 | 97.5 | 7.6 | 22.8 | 58.6 |
| Texas Instruments Incorporated TXN | 234.9 | 39.7 | 26.1 | 58.3 | 37.8 | 13.1 | 46.9 |
| Marvell Technology Group Ltd MRVL | 232.5 | 79.7 | 45.0 | 52.2 | 14.5 | 42.1 | 239.9 |
| Median of companies shown | 546.8 | 55.2 | 33.7 | 72.6 | 14.5 | 34.3 | 58.6 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 2 | -14 | -13 | -0.60 | -10 | 32 | 36 |
| 2017 | 3 | -13 | -13 | -0.49 | -9 | 23 | 25 |
| 2018 | 4 | -17 | -16 | -0.58 | -9 | 21 | 25 |
| 2019 | 4 | -9 | -11 | -0.40 | -9 | 19 | 24 |
| 2020 | 4 | -18 | -19 | -0.66 | -9 | 6 | 12 |
| 2021 | 0 | -16 | -16 | -0.45 | -11 | 25 | 27 |
| 2022 | 1 | -20 | -21 | -0.57 | -12 | 11 | 15 |
| 2023 | 0 | -20 | -20 | -0.51 | -15 | 5 | 9 |
| 2024 | 0 | -30 | -57 | -0.94 | -23 | 21 | 70 |
| 2025 | 1 | -34 | -63 | -0.68 | -31 | 184 | 329 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q2 | -0.12 | -9.10 | 0 | -100.00 | – | -5 | -6 |
| 2024: Q3 | -0.03 | 76.90 | 0 | -97.90 | -345,740.50 | -6 | -7 |
| 2024: Q4 | -0.17 | -33.80 | 0 | -73.00 | -104,227.20 | -9 | -13 |
| 2025: Q1 | -0.12 | 0.00 | 0 | 1,823.20 | 3,802.80 | -9 | -10 |
| 2025: Q2 | -0.10 | 16.70 | 0 | – | -6,430.30 | -8 | -10 |
| 2025: Q3 | -0.10 | -233.30 | 0 | 7,998.60 | -3,139.60 | -3 | -3 |
| 2025: Q4 | -0.25 | -43.80 | 0 | 1,075.30 | -12,506.30 | -12 | -12 |
| 2026: Q1 | -0.32 | -169.30 | 1 | 201.90 | -2,452.20 | -9 | -11 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 4 of our scanner strategies — each hit links to the scanner.
Breakout & Setup
Research
Risk & Weakness
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. Scanners marked in red are red-flag signals (risk/short scanners) — appearing there is not a seal of approval. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | -0.23 | -0.23 – -0.23 | 5 | 42.8% | 1 |
| 12/31/2027 | -0.17 | -0.17 – -0.17 | 138 | 26.1% | 1 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Free cash flow over the past twelve months is negative, which rules out a serious reverse calculation. Any growth rate only makes a negative cash flow more negative; no present value comes out of it. What the price reflects here is therefore not a stream of cash flows, but the expectation that there will be one at all.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
POETs verkaufte Produkte — optische Engines für 800G/1,6T-Transceiver und die Blazar-Lichtquellen — richten sich laut Jahresbericht 20-F für 2025 und den Zwischenmitteilungen 6-K ausdrücklich an den Markt für Künstliche Intelligenz und an Hyperscale-Rechenzentren, die KI-Dienste betreiben; der 2025 erlöste Umsatz von 1.074.865 US-Dollar stammt aus genau diesen Produkten und den zugehörigen Entwicklungsleistungen.
View the full file — quotes, sources, reviewed filings
„Our sales of these products will be to module makers that are heavily focused on selling to hyperscale data centers actively implementing AI services."
Unsere Verkäufe dieser Produkte werden an Modulhersteller gehen, die stark darauf ausgerichtet sind, an Hyperscale-Rechenzentren zu verkaufen, die aktiv KI-Dienste einführen.
20-F · 2026-03-31 · View SEC filing
„In 2025, we focused primarily on developing Optical Engines operating at 800Gps, and heavily focused on those hyperscale data centers actively implementing AI services."
2025 haben wir uns vor allem auf die Entwicklung optischer Engines mit 800 Gbit/s konzentriert und dabei stark auf jene Hyperscale-Rechenzentren, die aktiv KI-Dienste einführen.
20-F · 2026-03-31 · View SEC filing
„The rapid growth of AI software systems, including large language models and agents, represents a profound opportunity for POET."
Das rasche Wachstum von KI-Softwaresystemen, einschließlich großer Sprachmodelle und Agenten, stellt eine tiefgreifende Chance für POET dar.
20-F · 2026-03-31 · View SEC filing
„POET is a design and development company offering high-speed optical engines, light source products and custom optical modules to the artificial intelligence systems market and to hyperscale data centers."
POET ist ein Entwicklungsunternehmen, das schnelle optische Engines, Lichtquellen-Produkte und kundenspezifische optische Module für den Markt der Systeme Künstlicher Intelligenz und für Hyperscale-Rechenzentren anbietet.
6-K · 2026-06-30 · View SEC filing
Filings Reviewed: 20-F 2026-03-31 · 6-K 2026-05-15 · 6-K 2026-06-30 · 6-K 2026-04-27 · 6-K 2026-04-15 · 424B5 2026-05-18
Rated on July 29, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years 24.8%
- More than 10% revenue growth is expected for the coming year 202.4%
- Share count grows by less than 3% a year 36.4%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") -611.7%
- Gross margin at 40% or higher and without meaningful erosion 100.0%
- Goodwill from acquisitions does not grow faster than revenue 0.0%
- Net debt below twice EBITDA 306 m net cash
- Operating cash flow covers the profits of the last three years 70 m
- Return on capital at 15% or higher, or up versus two years ago -18.3%
- Insiders hold at least 10% or are net buyers 0.1%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
4/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% -6.0%
- Exp. sales growth 3Y > 5% 1,037.3%
- EBIT growth 10Y > 5% –
- Exp. EBIT growth 3Y > 5% 1,037.3%
- Net debt < 4x EBIT –
- EBIT positive, 10Y straight 0
- Max. EBIT decline < 50% –
- Return on equity > 15% -34.4%
- ROCE > 15% -18.3%
- Expected return > 10% 1,008.0%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
The company
About the Company
POET Technologies Inc., together with its subsidiaries, designs, develops, manufactures, and sells semiconductor products and services for commercial applications in the United States, Canada, the rest of North and South America, Europe, Malaysia, Singapore, China, and the rest of Asia. The company offers photonic integrated packaging solutions based on the POET Optical Interposer, a platform that allows the integration of electronic and photonic devices onto a single chip using advanced wafer-level semiconductor manufacturing techniques. Its products include photonic integrated circuits, optical engines, optical transceiver modules, and light source products. The company serves the data center AI, light source, and telecommunications markets; 5G interconnect markets, such as PON and GPON, as well as edge computing for machine-to-machine communications; and sensing markets, including LIDAR, Optical Coherence Tomography for medical devices, and virtual reality systems. The company has a strategic collaboration with Lumilens Inc. for the development of wafer-level photonic integration for AI optical networks. The company was formerly known as Opel Technologies Inc. and changed its name to POET Technologies Inc. in June 2013. POET Technologies Inc. is headquartered in Toronto, Canada.
- Employees
- 80
- Headquarters
- Toronto, ON
- Address
- 120 Eglinton Avenue East, M4P 1E2 Toronto, Canada
- Phone
- 416 368 9411
- Website
- poet-technologies.com
- IPO Date
- 01/04/2016
- ISIN
- CA73044W3021
- Stock Split
- 1:10 on 02/28/2022
Management
| Name | Title | Birth Year |
|---|---|---|
| Suresh V. Venkatesan Ph.D. | Executive Chairman & CEO | 1967 |
| Thomas R. Mika MBA | Executive VP, CFO & Corporate Secretary | 1953 |
| Kevin Barnes CMA, PFP | Senior Vice President of Finance & Administration and Treasurer | 1972 |
| Yong Meng Lee | Senior Vice President of Interposer Development & Engineering | 1972 |
| Jinyu Mo | Senior Vice President of Global Product Development | 1975 |
| Raju Kankipati | Chief Revenue Officer | 1978 |
| Ghazi Chaoui | Senior Vice President of Strategic Partnerships | – |
| Robert Ditizio | Vice President of Intellectual Property | 1963 |
| Sandeep P. Kumar Ph.D. | Chief Operating Officer | 1965 |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.