Latest from Agoracom regarding AGM meeting
Personal highlights
Overall, I felt this was a positive AGM. It was nothing earthshattering, but we got some updates, learned some new information, and there was overall very positive messaging and takeaways here. Not much negative to be said and POET seems very comfortable with their position (take that with a grain of salt). Here are some of the highlights and key takeaways for me. Hope you enjoy.
- Celestial AI initial samples
- This is an update on Celestial AI progress. More PO production demand for them later this year.
- Signals that we are the enabler/supplier/provider of one of the most exciting AI startups gaining lots of traction currently. They also have lots of private funding to help market POET in an indirect way once news is out.
- Lessenger already compelted module design
- Already making OE's for qualification in less than 3 months. There may have been some collaboration prior.
- Samples PO's with 10 customers
- Sample PO's with 10 customers who are interested and intend on using POET product.
- 4 mystery customers. We are aware of the HFT engagement, but 3 are a complete mystery.
- Could these be the end-users of POET product? These may be the individuals signaling to NationGate that POET deserves manufacturing space that is INCREDIBLY valueable to a company (NationGate) who is the sole supplier of Nvidia AI GPU's?
- This is news for us really.
- Production facility readiness and qualification
- Set up a production facility in 3-6 months. This is incredibly valueable. Traditional FAB facilities take a lot longer than this to set up. This shows that current POET manufacturing capabilities and POET's potential licensing partners can quickly ramp up production to meet the demands of paying end-user customers.
- IP development and protection
- POET is focused on widening their moat between them and their competitors.
- Very aware of the need to protect their IP from those who will want to compete to survive in the new photonic world.
- Blazar 2027 and Smart FAU
- Smart FAU is news. Flex alignment unit to dramatically improve production capabilities and reduce complexity. No idea how that works or what it is though.
- Production readiness and scalability
- POET is focused on growing their production capabilities and ensuring their supply chain is resillient and wide-reaching.
- OSATS and module maker relationships to continiue expansion of manufacturing capabilities.
- NationGate production by years end
- 'Nuff said.
- Limiations on guidance and news at AGM
- Suresh stated they can't give guidance at AGM. I found this perculilar. It may suggest they have something to talk about.
GO POET!
Thread continues:
1. I also liked the part about the OSATs they are working with are semiconductor OSATs. It feeds in wekl with "the semiconductorization" of photonics. Also how Nationsgate will be responsoble for capital expenditure expansion as demand warrants.
Lastly, Suresh highlighted this but it is worth repeating because it is a big deal: Our existing named customers/partners are already big enough that they will do the marketing. Our only marketing/selling will be finding our way into expanfing verticles such as 5g, sensors, lidar, etc
This makes poet run lean and more of our revenue will hit the bottom line as a result.
Thank you for this write up!
2. In addition, I found it encouraging when Suresh talked about customers going onsite at Globetronics to see the manufacturing capabilities. Suresh clearly stated that the final step is showing that POET can manufacture the goods, and POET's customers can now see with their own eyes that POET has the manufacturing capability. The technical capabilities have already been established per Suresh.
For those who couldn't listen, POET has already hosted several unnamed customers at the manufacturing site, and they have several more visits planned in July and August.
Side note... the year in review video was great!
3. I thought the information provided by Suresh et al, was fantastic. We are at a pivotal time and on the cusp of orders and revenue.
In particular, i enjoyed Sureshs summary at the end of the relationship with Mitsubishi and their unique and game changing EML laser. It a symbiotic relationship and Mitsubishi is huge and very well connected.
Bring it on! |
