Q3 2025 Sivers Semiconductors AB Earnings Call Transcript
Key Points
- Sivers Semiconductors AB (STU:2DG) reported a strong Q3 2025 with revenues of SEK72.5 million, marking a 24% year-on-year increase.
- The company achieved a 34% year-to-date revenue growth, which translates to a 40% increase when adjusted for constant currency effects.
- Product revenues increased by 15% year-on-year for the quarter, supporting the company's strategic transformation towards a product-focused business.
- Sivers Semiconductors AB (STU:2DG) has formed a promising partnership with POET Technologies, which opens new opportunities in AI data centers.
- The company successfully raised capital in September, attracting high-quality, long-term investors and optimizing its capital structure by reducing outstanding warrants by 50%.
- Despite strong revenue growth, the company reported a negative adjusted EBITDA of SEK10.5 million for Q3 2025.
- Sivers Semiconductors AB (STU:2DG) faces FX headwinds due to the weakening dollar against European currencies, impacting financial results.
- The transition to a predominantly product company is ongoing, with product sales growth still in the early stages.
- The company is involved in multiple technical engagements, which may take time to convert into revenue-generating projects.
- There are challenges in the SATCOM market, including the need for user terminals to adapt to multi-orbit, multi-band, and multi-link capabilities, which requires significant technological advancements.
Thank you. This is Vikram Vathulya and welcome to everybody for our third quarter 2025 webcast. I'm super happy to have Haine Thorsgaard with us as well. He's our new CFO that started in September.
So let's get right into the presentation. So the agenda will be an executive summary. From myself, I will go the financial results, and I'll come back to talk about markets, customers, business update, and key takeaways. Then we'll have a Q&A session.
In terms of our financials, there has been another very strong quarter, Q3. We came in with SEK72.5 million as revenues. That's a 24% year on year increase for Q3, and that's 34% year-to-date. We also need to know that the dollar has continued to weaken against European currencies, and we do not hedge for currency. And if you look at a constant effects rate, this delivers a 40% year-to-date growth in our revenues, and that is a remarkable achievement for the company.
We continue to focus on profitability, and year-to-date, our adjusted EBITDA has
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