Sivers reports Q2 2026 results
Sivers Semiconductors has announced its interim report for the second quarter of 2026, with progress in its transition from development-driven NRE revenues toward scalable product revenues supported by customer production ramps.
The company says that the deliberate reallocation of resources towards upcoming product ramps while scaling down NRE activities weighed on near-term financials. Product revenue increased 18 percent year-over-year, while the company’s opportunity pipeline expanded to $1.2b in July, up 268 percent from December 2025.
During the quarter, Sivers continued to reallocate resources from NRE projects toward product ramp preparation. The strategic shift is designed to support a more scalable, product-led business model for a transformational 2027. Sivers expects the impact of this transition to become visible in Q4 2026 and accelerate through 2027 as multiple programs progress toward volume production.
Net sales amounted to $5.6 million (SEK 53.8 m), corresponding to a decrease of 12 percent year-over-year, or 10 percent adjusted for currency effects. Product/HW revenue increased by 13 percent year-over-year, or 18 percent adjusted for currency effects, reflecting progress toward customer production ramps.
Adjusted EBITDA totalled -$3.7 m (SEK -35.5 m) reflecting revenue timing effects and resource allocation toward upcoming product ramps. EBITDA was impacted by a $4.47 m (SEK 42.9 m) non-cash social security accounting expense related to the strong appreciation of the company’s share price during the quarter.
“Q2 product revenue increased year-over-year, and we are consciously reallocating resources to support several customer programs that are advancing toward production,” said Vickram Vathulya, CEO of Sivers Semiconductors. “Our North Star remains delivering to our long-term financial model from 2028 onwards. With a healthy balance sheet, a $1.2b opportunity pipeline, and a continuing flow of production orders, we are singularly focused on enabling the transformation into a product business in 2027, our next relevant horizon that matters.”
Operational highlights included a collaboration with Jabil on an energy-efficient 1.6T pluggable optical transceiver module; a collaboration with GlobalFoundries to develop advanced silicon photonics solutions for the AI infrastructure market; and a $8.2 m production order from ALL.SPACE for Ka-band beamforming ICs, supporting a 2027 production ramp. Microelectronics Commons also strengthened its commitment to Sivers with year-two funding.
During the quarter, the company also conducted directed share issues amounting to around $85.93m (SEK 825 m) in gross equity capital; and announced evaluation of a potential dual listing of shares on Nasdaq New York.
Further quarterly details are: Profit/loss before depreciation and amortisation (EBITDA) amounted to -$10.24m (SEK -98.3 m ); operating profit/loss (EBIT) was -$12.18m (SEK -116.9 m); profit/loss after tax amounted to -$11.98m (SEK -115.0 m ); cash flow from operating activities was -$-7.29m (SEK -70.0 m). Earnings per share before and after dilution were -$0.04 (SEK -0.38). Equity per share amounted to $0.31 (SEK 2.97).
