Sivers Semiconductors AB (publ), publishes Interim Report Q3, January - September 2024

KISTA, Sweden, Nov. 11, 2024 /PRNewswire/ -- Sivers Semiconductors AB (STO: SIVE), a leading supplier of RF beamformers for Satellite Communications (SATCOM) and Photonics lasers for AI Datacenters, today announced its Q3 2024 results, highlighting its role in addressing two critical secular trends: AI acceleration and mmWave adoption. With a focus on advanced photonics and wireless technologies, Sivers continues to drive innovation in these high-performance, energy-efficient sectors.

Financial Highlights:

Q3 2024 revenue totaled SEK 58.7 m, up from SEK 58.3 m in Q3 2023, reflecting a 4% increase at constant currency, demonstrating steady growth despite challenging market conditions.

Adjusted EBITDA improved by 12% year-over-year to SEK -11.0 m, indicating continued progress towards profitability, supported by ongoing cost optimization measures and a strategic shift toward higher-margin products.

Product revenue increased to 32% of total sales, reflecting Sivers' strategic 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 secular 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 ...