With the stock down, I'm curious if you're planning to add to your position, what's your investment thesis?

Just some thoughts, a quick follow up to my previous POET article. I have a lot more to lay out and analyze, i will probably continue this week. I hope that everyone is crushing it.

Some notable quotes from POET’s recent Annual Shareholders’ Meeting, along with my personal observations. DYODD. AI edited for polish, not content.

CEO: “We currently have approximately $830 million in cash on our balance sheet.”
As of the July 1 close, POET’s market cap was approximately $1.67B. In other words, roughly half of the company’s market value is backed by cash alone. Add in minimal debt, manufacturing assets, IP, and accumulated tax losses, and the market is assigning what I view as a surprisingly modest valuation to the underlying technology platform.

CEO: “We’ve got marquee customers, significant revenue potential.”
At this point, this isn’t simply a vision of what could happen. POET already has recognizable customers and a growing design pipeline. Execution is now the key.

CEO: “We’ve stated that our existing capacity is capable of producing a million optical engines a year.”
That’s an important milestone. It suggests the company has crossed from proving the technology to demonstrating commercial-scale manufacturing capability.

CEO: “Our projected demand exiting 2027 would put that at a million engines a month.”
To me, this was the most significant statement of the meeting.
If management’s projections prove accurate, they’re talking about demand approaching 1 million optical engines per month by the end of 2027.
Think about what that could imply for revenue.
Again—management’s projection, not mine. DYODD.

CEO: “We have about a 10X increase in capacity to do over the course of the next six to nine months.”
Successfully scaling manufacturing by an order of magnitude would be a major validation of the platform and should give large customers greater confidence that POET can support future volume requirements.

CEO: “With a couple of major exceptions, we do not expect to announce new customers over the next 12 months.”
I don’t view this as a demand issue. I hear management saying they’re focused on executing for the customers already signed. If anything, I would expect increasing investment in production capacity as existing programs move toward volume manufacturing.

CEO:
“We’ve built a design pipeline so strong that we need to be very, very maniacally focused on completing development, qualifying, and ramping production for these customers.”
“Just handling the customers we have currently signed up can provide a revenue pipeline that far exceeds triple-digit million dollars.”
“We don’t really have the bandwidth at this point to take on additional major projects.”
Those comments don’t require much interpretation. They suggest a company transitioning from winning business to delivering it.
My takeaway:
This felt like one of the most confident and execution-focused shareholder meetings POET has held.
If management executes on even a substantial portion of what was discussed, today’s valuation may eventually look very different.
Within the next 12 months—or perhaps sooner—you may look back at today’s share price and either wish you had bought, or simply smile because you did.
Not financial advice. Just one investor’s interpretation. DYODD.

Pretext: this is 100% speculation based on nothing other than my own brain…but what do you guys think?…and yes, I used Gemini to help organize my thoughts and lay them out..

If you look at how the global supply chain is actually built, the argument that Huawei is using POET’s technology through middlemen isn't just wild speculation—it is a logical conclusion based on how these companies operate. Huawei is currently locked out of buying advanced hardware directly from Western tech firms due to strict U.S. sanctions, so they rely entirely on massive domestic Chinese electronics companies to build out their sovereign AI infrastructure. This is where Luxshare Tech comes in. Luxshare is a primary tier-1 systems integrator for China's domestic hardware push, meaning they build the literal racks, cables, and optical transceiver modules that power Huawei's massive domestic data centers. When Luxshare places large orders for high-speed optical engines, they aren't just sitting on them; they are packaging them into finished 800G or 1.6T transceivers destined for the hungriest AI clusters inside China, which are overwhelmingly driven by Huawei’s Ascend NPU hardware.

The human element behind this connection makes the case even stronger. When POET originally set up its Super Photonics Xiamen (SPX) subsidiary to capture the Chinese domestic market, they didn't just hire random administrators—they stacked the leadership team with heavy hitters straight out of Huawei’s own inner circle. They recruited Dr. Xiaozhong Zheng to be the General Manager of SPX and brought in Dr. Yonghong Hu as the head of R&D. Both of these men spent crucial parts of their careers leading advanced photonics and hardware divisions at Huawei and its chip-design arm, HiSilicon.

Even though POET recently bought out its Chinese partner and moved the physical manufacturing equipment to Malaysia to shield its intellectual property from Western export restrictions, the business relationships remain intact. By supplying raw, off-the-shelf optical interposer engines from a neutral hub like Malaysia to a massive contract manufacturer like Luxshare, POET keeps its hands completely clean. Luxshare takes those components, builds the finished modules inside China, and supplies them to local enterprise clients like Huawei. Ultimately, POET gets to act like an un-sanctionable "Intel Inside" component provider, successfully capturing massive infrastructure revenue from both sides of the geopolitical divide.

I have followed POET Technologies for a very long time, including AGMs going back many years. After reading the informal 2026 AGM transcript, my reaction is simple:

This did not sound like the old POET anymore.

For anyone newer to the story: POET Technologies is trying to commercialize its Optical Interposer platform — a semiconductor-style photonics integration platform for optical engines, light sources, 800G/1.6T transceivers, external light sources, and eventually near-packaged/co-packaged optics for AI infrastructure.

For years, the POET story was mostly about potential: brilliant technology, long development cycles, difficult qualification paths, delayed commercialization, and shareholders trying to infer whether the platform would ever become commercially meaningful.

This AGM felt different.

Not because of one single sentence.
Not because of one customer.
Not because of one hype number.

It felt different because the entire language of the company seems to have shifted from:

“We have promising technology.”

to:

“We have a platform, customers, orders, capacity planning, and now we need to execute.”

That is a major change.

1. The tone changed

Suresh opened by calling this “the most exciting annual general meeting in POET’s history.”

That may sound like normal CEO language, but for long-term POET followers it matters. POET management has historically been careful, sometimes frustratingly so. This AGM sounded much more confident, much more direct, and much more commercially grounded.

The key theme was the “three Cs”:

Credibility, Capacity, Capability.

And the important part is that Suresh framed them not as talking points, but as “fact on the ground.”

That is the central shift.

2. Credibility now means customers putting roadmaps at risk

One sentence stood out strongly:

Customers are willing to write checks and put their own product roadmaps on the line with POET.

That is very different from ordinary sampling language.

If customers are aligning product roadmaps with POET technology, then this is no longer just about whether the Optical Interposer works technically. It becomes about design wins, qualification, customer lock-in, and multi-generation platform value.

That is the platform case.

Not one product.
Not one customer.
Not one 800G module.

A repeatable architecture.

3. “We’re not a one-product, one-customer story. We’re a platform.”

For me, this may be the most important line in the entire AGM.

POET is explicitly positioning itself as a platform company.

That means:

• 800G today
• 1.6T ramping through 2027
• 3.2T and beyond
• pluggables
• near-packaged optics
• co-packaged optics
• external light sources
• custom optical modules
• wafer-scale photonics integration
• hybrid integration of electrical and optical components
• potentially sticky customer roadmaps

This is not a narrow transceiver component story anymore.

At least that is not how management is presenting it.

4. The design-win funnel is becoming more concrete

Suresh talked about a design-win funnel that could translate into annualized revenue exceeding $100M over the next two years, dependent of course on markets, qualifications, and execution.

The important point is that he did not present this as abstract TAM.

He said the path is mapped to specific customers, specific products, and specific revenue ranges, with agreements in place.

That does not remove risk.

But it does change the nature of the risk.

The old question was:

Will anyone care?

The new question is:

Can POET deliver?

That is a much better problem to have, but it is still a very real problem.

5. H2 2026 is now the major proof window

The transcript says POET expects to begin its production ramp in the second half of 2026.

Not prototypes.
Not engineering samples.
Volume customer shipments.

Suresh specifically referred to tens of thousands of optical engines for shipments in H2 2026 in support of production orders already received.

That is huge.

For me, this makes H2 2026 the first major validation window.

The key things to watch are:

• actual shipments
• revenue recognition
• production yield
• customer follow-on activity
• Malaysia capacity ramp
• ability to deliver against purchase orders

This is where POET has to cross from deep-tech promise into industrial execution.

6. Capacity is now the story

The manufacturing comments were some of the most important parts of the AGM.

POET says it has two manufacturing partners in Penang, Malaysia. The China-to-Malaysia assembly/test transition is described as complete. Initial capacity is qualified for production. Additional capacity is being evaluated or built out through Globetronics and NationGate.

Suresh also said existing capacity is capable of producing around 1 million optical engines per year, while projected demand exiting 2027 would require around 1 million engines per month.

That implies roughly a 10x capacity expansion.

This is exciting, but also serious.

A 10x ramp is not a marketing exercise. It requires equipment, process control, supply chain, test, reliability, hiring, quality systems, and customer qualification.

This explains why Sandeep Kumar’s role as COO matters. He appears to be central to the next phase: high-volume production, manufacturing scale, supply chain, and execution in Asia.

In other words, POET is no longer just trying to prove the technology. It is trying to industrialize it.

7. The balance sheet is now a weapon

POET talked about deploying approximately $50M into capital equipment purchases in H2 2026.

For a company that has long emphasized capital-efficient manufacturing compared with traditional optical approaches, this is meaningful.

The way I read it:

POET is not abandoning the capital-efficient model.
It is using that model aggressively.

If POET’s process really requires much less capex than conventional optical manufacturing, then $50M is not a small maintenance spend. It could represent a serious manufacturing acceleration.

Suresh also discussed component shortages, equipment lead times, isolator shortages, epoxy constraints, and competitors potentially missing deliveries due to lack of balance sheet strength.

This part matters because it shows POET thinking like an operating company, not just a development company.

Secure supply.
Place deposits.
Lock in strategic suppliers.
Build ahead of demand.
Create distance from competitors.

That is new language for POET.

8. The acquisition strategy sounded more important than many may realize

Suresh discussed acquisitions and partnerships in two verticals:

1. External light sources
2. High-speed communications components that can be integrated onto the POET Interposer

This is one of the most important strategic points.

POET does not appear to be thinking only about selling individual optical engines. It appears to be thinking about controlling more of the stack.

The key phrase:

“The integration itself is the innovation.”

That is the POET thesis in one sentence.

If POET can integrate key optical/electrical components directly onto its patented interposer platform, the value is not just in the component. The value is in the manufacturable integration architecture.

That is where the moat could come from.

9. Blazar may be bigger than just another product

Blazar was described as a multi-channel external laser built on POET’s patented Optical Interposer.

The interesting part is not only the specs. The interesting part is the architecture:

• separation of gain chip from wavelength selection
• wavelength control on the interposer
• potential avoidance of DFB-array yield degradation
• support for CWDM and DWDM spacing
• external cavity architecture
• MOPA architecture
• over 300 mW per channel
• wafer-level chip-scale package
• semiconductor manufacturing techniques applied to photonics

This is not just “POET has a laser product.”

It sounds more like POET is trying to enter the laser/light-source stack through the same integration logic that underpins the Optical Interposer.

And that matters because the laser market may become one of the biggest bottlenecks in AI optical infrastructure.

10. OCI alignment is a major point

Suresh connected Blazar to the Optical Compute Interconnect / Optical Compute Infrastructure direction and the new MSA backed by major AI infrastructure players.

His argument was basically that the market is moving toward specifications that Blazar was already built to meet.

That is a very strong claim.

It does not mean POET automatically wins.
It does not mean qualification is done.
It does not mean revenue is immediate.

But strategically, it matters.

If standards and customer requirements move toward POET’s architecture, then POET’s years of early work may finally become an advantage instead of a burden.

That is the “market coming to us” idea.

11. “SoC for photonics” is the bigger vision

Another important section was the comparison to system-on-chip architectures in electronics.

Suresh described POET’s platform as integrating:

• multiplexers
• demultiplexers
• waveguides
• micro-mirrors
• V-grooves
• lenses
• electrical and optical components
• wafer-scale assembly
• elimination of wire bonds
• reduced parasitics
• semiconductor-style manufacturing

He called it a true system-on-chip architecture for photonics.

That is the big vision.

Not a module.
Not a laser.
Not an engine.

A photonics integration platform.

That is why the platform language matters so much.

12. Customer retention may be built into the architecture

One of the most interesting claims was that POET’s interposer platform can scale from 800G through 3.2T and beyond using virtually the same integration architecture.

If true, that creates potential customer retention value.

Once a customer qualifies POET’s platform, future speed transitions may become easier than switching architectures completely.

That is the kind of platform stickiness investors should pay attention to.

The question is whether this works in real commercial qualification cycles.

But the logic is powerful.

13. The Q&A confirmed the execution focus

The Q&A may have been short and controlled, but it still confirmed some important points.

Suresh said several products are qualified for production or going into production imminently.

He said Lumilens products are still in development and will require qualification by Lumilens and its customers.

He said other customers are ramping in H2 2026.

Most importantly, he said POET does not expect to announce many new customers over the next 12 months, with a couple of possible major exceptions.

That is important.

It means investors should not expect a constant stream of customer announcements.

The focus is now:

• complete development
• qualify products
• ramp production
• deliver against current customers
• convert demand into shippable product

His wording around the “final chasm” was very clear.

Demand has been created.
Now POET must fulfill orders.

That is the phase transition.

14. This AGM did not remove risk. It clarified the risk.

My read is not that POET is now guaranteed to win.

The risks are still real:

• manufacturing scale
• yield
• customer qualification
• supply chain constraints
• equipment lead times
• hiring
• Malaysia execution
• competition from larger players
• timing delays
• revenue conversion

But the risk has changed.

For years, the biggest risk was whether POET would ever get real commercial traction.

After this AGM, the biggest risk appears to be whether POET can scale fast enough to satisfy demand.

That is a very different investment setup.

15. My conclusion

This AGM sounded like a company crossing from technology validation into platform industrialization.

The phrases that matter most to me are:

Real customers.
Real manufacturing.
Production orders.
Volume shipments in H2 2026.
Tens of thousands of optical engines.
1M engines/year capacity today.
Potential 1M engines/month demand exiting 2027.
$50M capex deployment.
External light source strategy.
Integration itself is the innovation.
SoC for photonics.
Same architecture from 800G to 3.2T and beyond.
The market is coming to us.
Our moment is here.

That is not old POET language.

That is platform-company language.

Now comes the only thing that matters:

Execution.

If POET ships in H2 2026, ramps Malaysia, converts design wins into revenue, and keeps customers moving through 800G, 1.6T, Blazar, NPO and CPO, then this AGM may be remembered as the point where the story changed.

Not financial advice. Just my read as a long-term POET investor who has watched many AGMs and thinks this one sounded fundamentally different.

Hopefully the stock runs in July. I think a lot of the drop over the past week had to do with quarterly rebalancing and funds cashing out their gains.

Hi guys, I hope everyone is enjoying there weekend, as you guys know I’ve released extensive research for this company given on passed situations that have happen, a 56,000 character research paper a part 1-7 . In order to understand how i get to these conclusions you must read them first.

I want to start first with the vote, as you noticed the US Redomicile wasn’t included, very limited on what was said about this only we might have to wait until the end of the year before a US move.

However I don’t think that’s the case, and I’ll explain why.

After the vote, CEO Suresh Venkatesan spoke but the way he spoke was like a weight was lifted off his shoulders, a feeling of relief or accomplishment, he then gave a
Some what emotional farewell to Thomas Mika. Thanking him for the last 10 years.
You know The same CFO who burned the Marvell deal with a supposedly NDA breech.

Why the redomicile probably needs to happen before Mika leaves, not after.

Mika has 10 years of institutional knowledge of POET’s Canadian filing structure, the PFIC mess, the NI 51-102 obligations, the FPI exemptions POET currently relies on. A redomicile means switching the entire SEC reporting regime 20-F/6-K to 10-K/10-Q, new SOX internal-controls scoping, new audit opinions under the new entity structure. Handing that off to a brand new CFO who’s also simultaneously learning the new domestic filer regime for the first time raises the same kind of risk that produced a material weakness in POET’s FY2024 filing one POET already remediated and closed out clean by year end 2025. A repeat of that pattern during a CFO transition is exactly the scenario the institutional knowledge handoff is meant to avoid. The clean way to sequence this is Mika executes the redomicile while he still has full institutional knowledge, hands off a stabilized US domestic filer to his successor, then retires.

That argues for the move compressing toward Q3, not drifting to December. If Mika genuinely wants out by year end, and you don’t want a brand new CFO inheriting an unfinished cross border transition, the redomicile has to substantially close with enough runway for Mika to also onboard a successor into the new structure not the old one. “End of year” as a stated floor/caveat (“might have to wait until…”) is consistent with him hedging on the worst case, while the actual internal target is probably tighter.

Let me make this clear . Mika is a very smart man. And we know this because of POETs balance sheet $830 million in cash, with $50 million deployed to expand already. A bad CFO would not have this and there is no successor named yet because of how this job is not easy.
whoever takes this job inherits the redomicile, the internal controls remediation, and the $830M deployment decisions simultaneously. That’s also exactly why the hiring delay is informative. I also want to mention if there’s a real near term redomicile plan, confirming specifics live in a Q&A is exactly the kind of thing companies avoid doing informally, because it’s material information that’s supposed to go out through a controlled disclosure (press release, 8-K/6-K), not get confirmed off the cuff in response to a shareholder question. So Mika being vague doesn’t necessarily mean nothing’s decided it could just as easily mean something’s decided and they’re not saying it there.
Only evidence we have Mika’s own words (“still assessing,” “haven’t reached a conclusion,” “won’t know until year end”) nothing on record tells us they’ve actually locked a date.

Next Let’s take a look at who’s on board and where they come from.

Suresh Venkatesan GlobalFoundries, Freescale

Jean-Louis Malinge ARCH Venture Partners, Kotura (acquired by Mellanox), Corning

Glen Riley : Qorvo/TriQuint, Opticalis, Agere Systems, Lucent

Bob Tirva : IBM, Broadcom, Dropbox, Sonim

Theresa Lan Ende : Arista Networks, JDSU, Force10, Cisco

Sohail Khan : Coherent Corp, LightPath, ViXS, Intersil, Agere Systems

Out of the 22 companies listed across these six executives, 21 are US based backgrounds.

Now you guys have seen the presentation
If you haven’t I want you to look at it again because what I’m about to show you is a comparison of exactly what happen to this company called Applied Optoelectronics Inc.
ticker symbol : AAOI

First let me explain who they are

Applied Optoelectronics Inc. Designs, manufactures, and sells fiber optic networking products optical modules, filters, lasers, laser components, subassemblies, transmitters/transceivers, and amplifiers to internet data center operators, cable TV, telecom equipment makers, and ISPs, with operations in the US, Taiwan, and China.

Founded in 1997, headquartered in Sugar Land, Texas founded by Chih Hsiang Lin, who’s still CEO.

Positioned as an AI/data center optics play 2025 revenue was $455.72M, up 82.75% YoY, and strong demand for 800G and 1.6T products is driving capacity expansion in Taiwan and Texas, with revenue guidance raised to $1.1B and supply expected to lag demand through 2027
Stock’s been wild up over 1,050% over a year before pulling back currently around $133, off a 52-week high near $233.

Let’s look at this company and what happen before she exploded shall we?

The Amazon relationship is the crown jewel. In March 2025, AAOI signed a deal giving Amazon the right to buy almost 8 million shares. That warrant lets an Amazon affiliate buy up to 7.95 million shares at $23.70, with most of it vesting over 10 years tied to $4 billion of purchases by Amazon and its affiliates.

That Sounds familiar.. kinda like how the warrents are structured with POET & Lumilens..

800G ramp began in earnest in Q1 2026. The company reported its first volume shipments of 800G transceivers to a large hyperscale customer that quarter, driving a 154% year-over-year jump in datacenter revenue to $81.4 million. Order backlog snowballed through Q2. By June, AAOI had locked in more than $324 million of 800G and 1.6T orders tied to hyperscale cloud demand, and Oracle alone accounted for $324 million in hyperscaler demand for next gen optics.

Capacity build out accelerated. CFO Stefan Murry said AOI exited Q1 with nearly 100,000 units of monthly 800G transceiver capacity, and management has said customer demand is outpacing production capacity through mid 2027. Management has guided to 60-80% sequential growth in Q3 and Q4 as new Texas and Taiwan facilities come online, with first commercial 1.6T hyperscaler shipments targeted for Q3 2026.

Let’s rewind a bit. Before all this happen before I wrote my part 1-7 on poet, the day I found out about Poet specifically was the same day I was writing a research paper on how the next bottle neck is photonic fabrics (co package optics)

So you see I watched it all play out.
I watched her skyrocket and I caught her at $6.90 at entry on the 199 million volume that day. Then I went to work on everything .
This wasn’t an area I’m unfamiler with so the night research, the Marvell cancellation all of it seemed incredibly intriguing to all happen as I’m about to write the next bottle neck paper.
What I mean by that is the constraint you’re seeing across the industry today I was aware of well in advance. So the timing of when poet came to me was immaculate. And So I just want to say thank you to a good friend of mine you guys know him as
No-Contribution1070 here on Reddit, without him my analysis & research wouldn’t exist here today in this subreddit.

In the world of business when it comes to the market. supply & demand means everything. This usually happens at the right TIME.
when the demand out meets the supply you get a constraint. This is good for a company, bad for the customer, because the product now has pricing power. So what this means is because the demand is so high company’s who need this product now pay a premium price. Because the demand overweights the supply (not enough product) So what happens? revenues jump, & margins expand. This is the same situation happening in the memory market you’re seeing today. Where I called micron at $178 and today she sits at $1133 per share. Demand is so high in this memory market SKHynix is joining the Nasdaq & I wouldn’t be surprised if we see Samsung be next.

Now I’m not saying POET is worth $1000 a share. Let’s not get too excited. Both products are very very different.

So what’s the value? A 20B + industry shown in the presentation
How do we know?

Someone recently mentioned Poet & SpaceX

Because of Mesh Optical Technologies being the start up SpaceX just acquired

The Alpha C1 product page explicitly states “Fully Integrated Optical Engine… Designed, manufactured, and tested by Mesh.
the optical engine uses the most reliable DFB laser ever developed for an optical transceiver, runs 8-lane 224 GHz PAM4 modulation, operates at 1310nm wavelength with up to 5km fiber distance, and draws under 10 watts at 1.6Tbps by eliminating retimer DSP silicon.

None of that is POET specific fingerprinting

DFB lasers are the industry standard laser type AAOI uses them too (their own CPO laser announcement was DFB-based).
1310nm, PAM4, OSFP form factor these are universal telecom/datacenter standards, not proprietary to any one supplier.

Wafer level integration / interposer
the actual core of POET’s IP isn’t mentioned anywhere on Mesh’s page. Mesh’s differentiator is flip-chip die bonding and eliminating retimer DSP chips, which is a different architectural approach entirely.

However they’re right about something.

Mesh, by contrast, has shown zero public roadmap, demo, or announcement suggesting they’re building anything in the CPO/external light source category.
the fact that SpaceX has acquired a start up
company that is after the same end goal as POET & POET’s demoed and won awards. Should be a clear message within itself. I’m not saying SpaceX will acquire Poet.
But if SpaceX acquires a company in the same lane as POET, you should be excited about it.

But we can stand back and look at this in a few ways.

Could the AGM have been a presentation for an acquisition set up? Due to the demand for its products & whoever it is would need to pay a premium to own POET. With potential acquisitions by

Lumilens , Applied Materials, Marvell

Or

Poets presentation shows that if they can scale then this company is about to launch to 20+ billion . Exactly what is happening to AAOI after they scaled. However POETs balance sheet is much cleaner. Debt is essentially none just a small, interest fee $6.5M convertible obligation to Sanan IC, paid over 5 years.

We heard CEO Venkatesan say they are ramping up production very quickly.
Dr. Venkatesan spent six years as the Senior Vice President of Technology Development at GLOBALFOUNDRIES, where he led the development and ramp of the 28nm and 14nm nodes. Prior to that, he spent 18 years in technical and leadership roles at Freescale Semiconductor. He holds a Ph.D. in Electrical Engineering from Purdue University.
This is a ceo that put a lot of effort into this company. A smart man and a great leader.
I think we’re early to the party here, the entire industry is going to need any help they can get to scale & hyperscalers are mentioned as a great fit for blazer. I think 2027 will really see what POETs really about unless an acquisition comes. Your patience will always be tested.
But with hard research and understanding the industry my conviction is set in stone.

Im setting a price target of $42 mid 2027.
Implying a 4x from its current market cap.
I want to say thank you guys for reading my work it’s been a pleasure covering all this, this is the kind of research I do to help build a conviction. And a reminder, This isn’t a competition with anyone I will never tell you to buy anything, I will never tell you to just take my word for it. It’s important you do your own research to build your own confidence that supports your risk tolerance.
Most humans have zero patience. Growth always takes TIME.

Thank you guys for letting me be apart of this journey with you I believe we’re just getting started.

Earnings is set for August, I cant confirm a date With multiple sources stating different dates so will wait for Poets website to update. (This is not financial advice)
And I’ll keep you guys posted.

Goose - @theinvestmentblueprint

Directly mentions and is bullish on POET
there’s literally nobody else you want to be bullish on your stock than this person. His/her research has been goated for the for the CPO space

https://x.com/aleabitoreddit/status/2071488272245944399?s=46&t=aiNRnguJNyufNLsmAHvAcA

I feel like the new NRE from the AGM is getting slept on.

Quick explainer for anyone not familiar: NRE stands for non-recurring engineering. It's money a customer pays a company to do custom development or engineering work for them, usually paid out as they hit milestones. The key thing is it's basically the front door to a real relationship. A customer pays NRE to develop something, then it goes to qualification, then if it passes, production orders follow. Companies don't write big NRE checks unless they're seriously evaluating you for production.

So with that context: POET signed an NRE worth over $1M from a single customer for high power external light source work, signed right after OFC.

To put that in context, their last two quarters of reported revenue were $503K and $341K, and that was primarily NRE across multiple customers. So this one agreement, from one customer, is bigger than that entire recent NRE book combined.

If an unnamed customer is willing to spend over $1M on the development work alone, it makes me wonder how big the actual production order could be once it qualifies. The size of these individual deals is stepping up fast, that's for sure.

All of that said I felt great about the AGM and our future. In fact it strengthened my thesis around POET by quite a bit. I'm not happy with where the SP is at currently but the whole sector has taken a beating recently.

One more thing. When I first listened I thought "crap, no new customers and maybe no major news for a bit." But after reading the transcript (thanks Rainer) I caught what a few others pointed out: "with a couple of major exceptions, we do not expect to announce new customers over the next 12 months." A COUPLE of major exceptions does not sound like no news or new customers for 12 months.