Sivers Semiconductors
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Sivers Semiconductors (SIVE) investor relations material

Sivers Semiconductors Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary26 Feb, 2026

Executive summary

  • Achieved record Q4 and full-year 2025 revenues, with SEK 304.1 million for the year (up 25% YoY, 33% at constant FX) and SEK 80.7 million in Q4, despite FX headwinds and a U.S. government shutdown.

  • Opportunity pipeline grew 64% in 2025 to $453 million, with product pipeline up 90%, supporting long-term revenue growth.

  • Strategic refinancing completed, replacing all existing loans and improving financial flexibility, including a $17 million facility and a $12 million convertible facility.

  • Strengthened leadership team and expanded global presence with new offices in the U.S. and India, and new Chief Revenue Officer and VP Operations.

  • Strategic partnerships expanded, including Doosan, O-Net Technologies, POET Technologies, DigiKey, and a European Space Agency contract.

Financial highlights

  • Q4 2025 revenues reached SEK 80.7 million; full-year revenues SEK 304.1 million, both record highs.

  • Product revenues for FY25 were SEK 85.7 million, up 13% at constant FX.

  • NRE revenues grew 33% for the year and 40% at constant FX, reaching SEK 218.4 million.

  • Adjusted EBITDA for Q4 was SEK 10.8 million; full-year Adjusted EBITDA improved by 31% year-over-year to SEK -10.8 million.

  • Q4 EBIT: SEK -44.8 million; full-year EBIT: SEK -141.3 million.

Outlook and guidance

  • Targeting cash flow breakeven at $50–55 million annual revenue with 65% from products within two years.

  • Long-term ambition: 25–30% revenue CAGR, gross margin above 50%, R&D at 20% of revenue, and EBITDA margin above 30%.

  • Expecting continued growth in opportunity pipeline and product revenues, with major customer ramps in LiDAR and defense sectors.

  • Board proposes no dividend for 2025.

  • No forward-looking financial forecasts published.

Target product revenue mix for cash flow breakeven?
LIDAR customer's long-term revenue potential?
How do new offices enhance market access & talent?
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Frequently asked questions

Sivers Semiconductors AB is a leading and internationally recognized technology company that supplies ICs and integrated modules through its two business areas Wireless and Photonics. Wireless develops mmWave products for advanced 5G systems for data and telecommunications networks and satellite communication. The portfolio includes RF transceivers, beamforming front end ICs, integrated mmWave antennas, repeaters, and software algorithms for optimum mmWave RF performance. Photonics develops and manufactures semiconductor based optical products for optical fiber networks, sensors and optical fiber communications (Li-Fi). The company is listed on Nasdaq Stockholm under SIVE. The head office is located in Kista, Sweden.

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