POET Technologies Inc. stock climbed 5.19% to $9.33 after stronger quarterly revenue and new commercial agreements supported Thursday’s rally. The company reported its sixth consecutive quarter of sequential revenue growth during the second quarter. Meanwhile, a $50 million Lumilens purchase order strengthened the company’s commercial outlook for AI infrastructure.
POET Technologies reported second-quarter revenue of $569,925, representing a 13% increase from the previous quarter. Revenue also increased 112% from $268,469 during the same quarter last year. The latest results extended the company’s sequential revenue growth streak to six quarters.
The company recorded a $11.3 million net loss, compared with $12.3 million during the first quarter. Loss per share improved to $0.07 from $0.08 during the previous quarter. The loss narrowed significantly from $17.3 million reported during the second quarter of 2025.
Research and development expenses increased to $5.8 million as POET expanded product development activities. Those costs stood at $4.5 million during the first quarter and $3.1 million one year earlier. Meanwhile, operating cash outflow reached $12.2 million, compared with $8.8 million during the previous quarter.
POET Technologies secured an initial $50 million purchase order through its strategic partnership with Lumilens. The agreement covers manufacturing optical engines using POET’s Optical Interposer platform for advanced computing infrastructure. Moreover, the broader relationship could generate more than $500 million in cumulative purchases over five years.
The company also received another $2.4 million purchase order from an existing customer after quarter-end. POET reached an agreement with a Tier 1 laser company for an external light-source engine. It also secured exclusive access to a component designed to increase output from its Blazar hybrid laser.
These agreements support POET’s planned optical engine production ramp during the second half of 2026. The company develops photonic integrated circuits, light sources, and optical modules for data centers and advanced computing systems. Consequently, recent agreements give POET additional commercial opportunities as customers expand high-speed optical infrastructure.
POET ended June with $796.3 million in cash and short-term investments following its May financing. The company raised $400 million by issuing 19,047,620 units at $21 each. Each unit included one common share and one warrant exercisable at $26.25 through May 2029.
The funding gives POET additional resources to expand manufacturing capacity and support anticipated customer demand. It also provides capital for the planned production ramp linked with the Lumilens partnership. POET appointed Sandeep Kumar as chief operating officer to oversee expanding manufacturing operations.
POET also approved 2,453,271 restricted stock units for company officers on August 11. The company calculated the award using its August 10 closing share price of $8.56. The units will vest equally across the first three anniversaries under POET’s 2026 incentive plan.
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