Sivers Semis publishes interim Q3 report
Sivers Semiconductors, the Swedish specialist in photonics and wireless technologies, has announced its Q3 2024 results, highlighting its role in addressing two critical trends: AI acceleration and mmWave adoption.
Q3 2024 revenue totalled $5.38m (SEK 58.7 m), up from $5.36 m ( SEK 58.3 m) in Q3 2023, reflecting a 4 percent increase at constant currency, demonstrating steady growth despite challenging market conditions.
Adjusted EBITDA improved by 12 percent year-over-year to -$1m ( SEK -11.0 m), indicating continued progress towards profitability, supported by ongoing cost optimisation measures and a strategic shift toward higher-margin products.
Product revenue increased to 32 percent of total sales, reflecting Sivers' focus on product sales over NRE (Non-Recurring Engineering) revenue and marking significant progress in transforming into a product delivery business.
Market Focus on AI and mmWave
In Q3, Sivers reinforced its commitment to two s market trends—AI acceleration and mmWave adoption. The company’s Photonics division continues to drive innovation for the AI datacenter segment with high-performance multi-wavelength laser arrays. This was showcased most recently by the joint demonstration with its partner Ayar Labs at the ECOC show in September. Sivers says its 16-element laser array solution is a critical enabler for driving the copper to optical interconnect shift.
Emphasising readiness for manufacturing at scale, Sivers is finalising a merchant foundry partnership to meet the growing demands of AI data centres.
The Wireless division develops energy efficient RF beamforming ICs with a specific focus on the satellite communications segment. The division recorded 40 percent sequential growth quarter-over-quarter, and secured a new blue chip customer win in the satcom segment indicating traction beyond early adopters.
“Our technologies play a pivotal role in AI data centres and satellite communications, which demand the energy-efficient solutions we deliver,” said Vickram Vathulya, president and CEO of Sivers Semiconductors. “We continue to deepen and expand our customer engagements, while solving relevant innovation challenges in a timely manner.”
Expansion with CHIPS Act awards
Sivers secured two US CHIPS Act awards in September, underscoring the strategic importance of its differentiated RF beamforming technology for the large and growing Electronic Warfare (EW) market, according to the company.
Looking ahead, Sivers says it will continue to explore partnerships and optimise operational scale as it builds a sustainable product revenue base. “With a focus on long-term growth, an evolving product portfolio, and strong ecosystem partnerships, Sivers is well positioned to deliver innovations at scale for the AI and mmWave markets,” Vathulya added.
