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 (STO: 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.

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SOURCE Sivers Semiconductors

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