Sivers Semiconductors (SIVE) investor relations material

Growth strategy and market focus

• Targeting two major secular trends: AI acceleration and millimeter wave adoption, both expected to drive growth for decades.

• Growth will occur in two waves: immediate expansion in wireless, followed by photonics (lasers) in a few years.

• Projecting a 3–4x increase in top-line revenue over the next 4–5 years, leveraging industry multiples for significant value creation.

• Focused on AI data centers (photonics) and satellite communications (wireless) as primary momentum markets.

• Strategic customer selection in markets with funding and growth momentum, especially Satcom and AI data centers.

Technology and product differentiation

• Photonics business leverages continuous wave lasers to address supply gaps and enable high-speed data center interconnects.

• Wireless products offer 3–10x better range, compact design, and multi-orbit, multi-band, multi-beam capabilities for next-gen ground terminals.

• Moving up the value chain by providing both RF chips and antenna array subsystems, simplifying integration for customers.

• Manufacturing partnership with Wind Semiconductors enables economies of scale for laser production.

• Differentiation in photonics through power level flexibility and array formats for co-packaged optics.

Commercial traction and financial outlook

• Wireless business has achieved commercial breakthrough, with product revenues surpassing engineering revenues.

• Customer pipeline includes major industry players like Intelsat, Raytheon, and BAE Systems, indicating scaling opportunities.

• Notable customer opportunities: $25–50M over 4–5 years in Satcom terminals, $20–40M in fixed wireless, and $30–60M in European satellite modernization.

• Revenue growth is outpacing previous years, with a target to reach adjusted EBITDA breakeven by 2026.

• Ambition to deliver 25–30% CAGR and margins above 50% long-term, aiming for higher market multiples.