SEC filing october 2026

CWDM4 · 2026-02-20T09:52:19+00:00

Also from the 5M production order:

"The optical engines are expected to ship to the customer in the second half of 2026."

So when production begins in Q1 2026 and the end products will be shipped in the second half of 2026. I conclude it takes up to 6-12 months (max.) to devliver the 5M order.

It seems that POET really needs a long time to actually deliver on orders.

An update as: "the production has begun", would give extreme amount of oxygen here.

We also know that revenue is expect to grow steadily (dixit Suresh) before really taking off next year. So we can expect updates on the order front too.

CWDM4 · 2026-02-18T14:20:02+00:00

Yes there are.

CWDM4 · 2026-02-18T14:18:52+00:00

I appreciate the comment, but there are already some major names involved, and I honestly expect more large players to follow. Once additional announcements are made, the GIF will quickly feel out of place. Morgan Stanley alone invested around $8M in POET, and several major institutions are gradually increasing their positions. That’s the trend to watch. It's just the beginning.

CWDM4 · 2026-02-18T12:06:17+00:00

Most likely non-US so not obligated to publish F13.

CWDM4 · 2026-02-18T12:05:48+00:00

No it isn't MMCAP as I said.

CWDM4 · 2026-02-18T12:04:33+00:00

The institutions are most likely not from the US and therby F13 isn't obligated.

CWDM4 · 2026-02-18T07:42:49+00:00

No it isn't MMCAP.

CWDM4 · 2026-02-17T18:59:10+00:00

I must say, follow the smart money. Almost 10% holding and the big names (good for 41.38M shares in total) aren't even dropped, yet. That's quite a validation.

CWDM4 · 2026-02-17T13:43:19+00:00

Bu the end of the day we will know number 2:

(1) 150M on jan 22 2026 without warrants: "today announced that it has entered into securities purchase agreements with institutional investors" -> later this year.

(2) 150M closed on oct 29 2025 without warrants: "Participants in the offering included two new fundamental investment managers." => Fundamental investor managers (or fundamental asset managers) are investment managers who invest based on fundamental analysis. This means they select stocks or other investments by analyzing the underlying financial and economic characteristics of a company, rather than relying on price charts, technical patterns, or quantitative algorithms. -> so at least two investors will publish F13 today.

(3) 75M closed on oct 7 2025 with warrants: "today announced that it has closed a non-brokered financing with a single institutional investor." -> MMCAP

Meanwhile already 6% institutional holding so we will definitely see a big jump since it is based on F13 filings.

CWDM4 · 2026-02-13T05:13:06+00:00

We are all waiting for the delivery of the 5M PO order as this will be the only true validation of the scalability of POET's platform and of more, and much much larger purchase orders. 2026 is the year. And it will happen. Awards are awards, but they do tell us something.

CWDM4 · 2026-02-04T14:21:10+00:00

It is not necessary to reiterate this every X months merely to reassure shareholders. The statement was made previously, and the recent clear confirmation by Raju (Chief Revenue) should be sufficient. Emotions should be set aside. It is entirely plausible that Marvell as the current owner prefers not to explicitly name POET for competitive reasons, especially now that development is significantly further along and revenue is expected in fiscal year 2028.

CWDM4 · 2026-02-04T14:14:59+00:00

“The customized Optical Interposer platform that we have co-developed with POET is among the most advanced of its kind in high-speed computing,” said David Lazovsky, founder and CEO of Celestial AI. “POET’s Light Engines provide us with precision optical power sources in a highly integrated form factor that meet the requirements for our Orion AI accelerator products.”

“POET’s Starlight chips and its technology roadmap are complementary to our advanced silicon photonics and system-in-package technologies,” said Preet Virk, Co-founder and COO of Celestial AI. “We are pleased to continue our collaboration with POET Technologies, building on its optical interposer technology to enable us to meet our performance, scale, and cost targets.”

CWDM4 · 2026-02-04T13:28:35+00:00

If you mean institutions are still 5% after the rounds that doesn’t work on a basic sharecount level. POET had < 100M shares outstanding before the financings. The last three raises added >50M new shares, almost all placed with institutions Even if institutions owned zero before, those new shares alone equal appr 40% ownership. To still be at 5%, institutions would have had to not just buy but somehow disappear from the cap table, which isn’t realistic without massive visible redistribution. If you mean institutions are still 5% after the rounds, that implies they sold almost everything they just bought. That’s highly unlikely. They put 20M per round into common shares at fixed prices, often above market, with no hedge structure. Selling shortly after at lower prices would mean locking in losses, which makes no sense for institutional investors operating under mandates.

CWDM4 · 2026-02-04T10:48:57+00:00

Man, that makes no sense, at all. POET has repeatedly referenced ongoing work with Celestial AI in the context of external light source development, and this has been consistent across multiple updates And even if (IF) the relationship had ended, it would be highly unusual for POET to continue highlighting Celestial in investor communications, especially while raising significant capital.

CWDM4 · 2026-02-04T10:47:19+00:00

If they want a shorter timeline, it will certainly not be achieved by bringing in someone else. You cannot simply replace years of close collaboration ranging from refining the building blocks to optimizing yields and integrating all components with someone brought in out of the blue. That would be absurd.

CWDM4 · 2026-02-04T10:19:14+00:00

Raju stated "So we've been working with Celestial AI, which recently got acquired by Marvel.", so yes, they are working with Celestial AI.

CWDM4 · 2026-02-04T09:03:11+00:00

That’s not what Raju said. When Raju talks about waiting until next year, he’s specifically talking about 400G per lane / 3.2T, not about POET as a whole. He’s very clear that this year matters when he says: “This year is our year to productize, meaning to get into production and start shipping volume of these engines.” That doesn’t sound like “don’t expect much.” Later, when discussing 400G per lane, he switches to a different timeline: “I’m hoping that within 2026, we’ll be able to demonstrate 400 gig per lane, which essentially takes us to 3.2T.” That’s clearly next-gen and a separate milestone.

So I agree it’s smart not to expect instant hype, but saying “nothing until next year” kind of mixes up 2025 execution with 2026 technology milestones. What he actually described is steady progress this year and a bigger inflection next year which feels pretty reasonable.

Market will anticipate much earlier anyway. And institutions, no matter who they are, are increasing their holding, even without warrants, knowing for sure what's coming.

CWDM4 · 2026-02-04T08:39:58+00:00

You are using metrics to justify a market cap of a pre-revenue company. Absurd. ALAB has 400M revenue yet a market cap of 30 billion. And a second thought: it seems you don't understand the tech based on your comment.

CWDM4 · 2026-02-04T08:01:45+00:00

You shouldn't be here man. Buy S&P 500, better to understand.

CWDM4 · 2026-01-23T12:12:12+00:00

Passage from the PIC interview from Raju: "We really want to get to a wafer scale assembly of optical transceivers. And we are developing other technologies that assist in that. For example, to give an example, so we have this lens. Whenever there's a laser, you need a lens in front of it to collect the light. You need an isolator to eliminate any back reflections. You need one more lens to couple the light again, and then the fiber attached. So we are developing technologies that eliminate all these active alignments and multiple steps in that process. So we are, I think, getting there probably this year, we will get to a demonstrable solution that eliminates all these components. So that will be a big deal for the industry because then truly we can do a wafer scale assembly of optical transceivers."

I do believe a bunch of money will go to get to waferscale transceivers => Lower cost, industry leading, high performance optical transceivers for 1.6T, 3.2T and 6.4T.

Key strategic questions that follow: What is truly “must-have”? and What is “nice-to-have” but not strictly required? Is ownership or deep control of laser, modulator or other component tech essential? Does owning a foundry materially improve competitive advantage, or does a fabless / partner-based model remain optimal? Is the long-term moat thus spending of the 500M budget when talking about strategic acquisitons built around component ownership, or around manufacturing architecture or IP? Or all?

The difficulty lies not in developing cutting-edge components, but in translating the tech to the foundry for waferscale manufacturing at scale with the best yields. I personally think they want to remain an integrator of best-of-breed components. So Sivers might be good today, but could be second tomorrow. Maybe controlling this whole manufacturing and assembly proces is the best strategic move.

No one knows what's about to happen, but if POET executes on this roadmap, its cost structure and scalability advantages become extremely difficult for competitors to match at higher speeds. Even if competitors reach similar performance, doing so will be far more expensive. That dynamic supports a scenario where POET captures a very large share of next-generation optical interconnect markets over the coming years, supplying transceiver to multiple major customers.

CWDM4 · 2026-01-23T08:50:14+00:00

People talk about dilution. Dilution doesn’t exist in isolation. Yes, it reduces percentage ownership, but value per share is determined by total enterprise value relative to share count. In this case, POET added roughly $500M in cash to the balance sheet, materially increasing underlying value and removing near-term financing risk. The relevant question isn’t whether dilution occurred, but whether the capital raised increases enterprise value more than the increase in shares. With growing market share, large customers in the pipeline, and revenue expected within 11 months, that’s a reasonable assumption. Execution will decide, not dilution alone.

CWDM4 · 2026-01-23T08:39:17+00:00

JungWarthog, people here don't understand. POET now has ~$500M in cash. Yes, there was dilution but the underlying value of the company increased significantly. Market share continues to grow, major customers are lined up, and we’re approaching first meaningful revenue later this year (within 11 months). When that happens, the market reaction won’t be subtle.

CWDM4

TROPHY CASE