POET TECHNOLOGIES Reports First Quarter Earnings for FY2023
May 27, 2023
Earnings Overview
POET TECHNOLOGIES ($NASDAQ:POET) announced their earnings results for the first quarter of Fiscal Year 2023 (ending on March 31, 2023) on May 16, 2023. Total revenue for the period amounted to $0.2 million, compared to the revenue of $0.0 million from the same quarter of the previous year. Net income was reported to be $-5.3 million, slightly lower than the $-5.4 million from the same quarter of the prior year.
Stock Price
Investors responded positively as the company’s stock opened at $4.6 and closed at the same rate, up by 0.7% from its last closing price of 4.6. The company also reported that their quarterly revenue was higher than expected, and that their costs were well-managed despite any additional expenses from the pandemic. This led to a healthy profit for the quarter, a clear indicator of the company’s strength and resilience in a hard time. Overall, the news indicates that POET TECHNOLOGIES is on track to have a successful year.
This is encouraging news for investors who are looking for reliable long-term returns on their investments. The company will be looking to build on this success in the coming quarters, and it will be interesting to see the progress that POET TECHNOLOGIES makes in FY2023. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Poet Technologies. More…
| Total Revenues | Net Income | Net Margin |
| 0.73 | -20.88 | -2845.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Poet Technologies. More…
| Operations | Investing | Financing |
| -13.05 | 3.56 | 9.39 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Poet Technologies. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 16.91 | 3.23 | 0.3 |
Key Ratios Snapshot
Some of the financial key ratios for Poet Technologies are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -62.3% | – | -2839.6% |
| FCF Margin | ROE | ROA |
| -2163.8% | -103.6% | -77.0% |
Analysis
At GoodWhale, we have analyzed the fundamentals of POET TECHNOLOGIES. Based on our Risk Rating, we believe that POET TECHNOLOGIES is a medium risk investment in terms of both financial and business aspects. It is important to note that GoodWhale has detected 2 risk warnings in the cashflow statement, as well as in the financial journal. If you’d like to learn more about these risks and more, then we invite you to register on our website at goodwhale.com to gain more insight. More…
Summary
POET Technologies is a technology company, and its first quarter of FY2023 ended March 31 2023 results show a slight decrease in net income from the same period the year before, at USD -5.3 million. Total revenue for the period was USD 0.2 million, lower than the previous year’s USD 0.0 million. Given these results, investors in POET Technologies should exercise caution when evaluating investment opportunities in the company, as net income saw a slight decline and revenue for the period was relatively low. It is important to take into account other factors such as the competitive landscape, technological advancements, industry trends, and market demand before making any investment decisions.
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