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Spectra7 Microsystems Inc. is a high-performance analog semiconductor company based in San Jose, California, with design and technical support centers in Cork, Ireland, and Dongguan, China. The company specializes in delivering unprecedented bandwidth, speed, and resolution for leading electronics manufacturers in various markets including virtual reality, augmented reality, mixed reality, and data centers. Spectra7 recently announced its expected revenue for the first quarter of 2024, emphasizing its focus on commercial production and sales of its industry-leading Active Copper Cable products. The company is exploring strategic alternatives to enhance shareholder value, including emergency funding, restructuring, sale, or merger. With a vision to enable disruptive industrial design, Spectra7 continues to drive innovation and connectivity in the semiconductor industry.
Spectra7 Microsystems, a leader in high-performance analog semiconductors for broadband connectivity markets, announced its participation in the LD Micro Main Event XVII investor conference in Los Angeles from October 28-30, 2024. The company will deliver a group presentation on October 29, 2024, at 3:30 pm Pacific Time.
Investors can join the presentation online via a webcast link available on Spectra7's investor relations website. Dave Mier, Chief Financial Officer, and John Mitchell, Chief Marketing Officer, will host investor meetings throughout the day on October 29. In-person attendees can request meetings through LD Micro's meeting portal or Spectra7's IR contact. Qualified investors interested in attending the conference should contact LD Micro's registration email.
Spectra7 Microsystems Inc. and I-PEX Inc. have announced a collaboration to offer the CABLINE®-CA IIEQ PLUS 112G active copper cable (ACC) featuring Spectra7's 112G PAM4 GC1122 GaugeChanger™ chips. This product will be demonstrated at the OCP Global Summit in San Jose, California, from October 15-17, 2024.
The CABLINE®-CA IIEQ PLUS 112G supports four lanes of 112 Gbps PAM4 data and offers a compact design that minimizes PCB footprint. It can use cables as small as 46 AWG, performing as well as larger 36 AWG cables while improving airflow and flexibility within equipment.
Spectra7's GaugeChanger™ technology allows copper to extend to longer lengths without the cost and power penalty of optics or DSP-based retimed copper solutions, achieving typical power savings of 700% to 1000%. I-PEX anticipates delivering cable samples to customers for qualification in the first half of 2025.
Spectra7 Microsystems Inc. (TSXV:SEV) (OTCQB:SPVNF) announced its Q2 2024 financial results. Key highlights include:
- Revenue of $0.9 million, up from $0.8 million in Q1 2024 but down from $3.3 million in Q2 2023
- Gross margin of 64%, improved from 41% in Q1 2024
- Completed a private placement raising C$12.5 million
- Eliminated C$11.7 million in long-term debt by converting debentures to equity
The company is focusing on advancing to commercial orders for its 100Gbps active copper cable products, with ongoing testing at data center customers. Despite lower revenue, Spectra7 has strengthened its balance sheet and is progressing on key product development initiatives.
Spectra7 Microsystems revealed the outcomes of its 2024 Annual and Special Meeting of Shareholders, held on June 27, 2024. Key decisions included the election of Raouf Halim, Roger Maggs, Christopher Morgan, and Ronald Pasek as directors, the appointment of an auditor, and approval of amendments to the company's stock option and restricted share unit plans. The amended equity incentive plans reserve up to 27,564,478 common shares, accounting for roughly 20% of the company's issued and outstanding shares as of May 17, 2024. These plans are awaiting the final approval of the TSX Venture Exchange.
Spectra7 Microsystems announced the retirement of CEO Raouf Halim, effective June 15, 2024. Board Chair Ron Pasek will assume the role of Interim CEO while the company searches for a permanent successor. Halim, who served as CEO since 2016, led Spectra7 through significant growth, transforming it into a leader in high-performance analog semiconductors for hyperscale data centers and AI networks. Pasek, a director since 2015, brings extensive tech industry experience and will work closely with the executive team to maintain strategic momentum. Halim will remain on the Board of Directors.
Spectra7 Microsystems Inc. (TSXV:SEV, OTCQB:SPVNF) announced its financial results for Q1 2024, ending March 31, 2024. Revenue was $0.8 million, up from $0.3 million in Q4 2023 but down from $3.1 million in Q1 2023. Gross margin was 41%, a decrease from 57% in Q4 2023 and 63% in Q1 2023. Non-IFRS operating expenses were $2.1 million, down from $3.5 million in Q4 2023 and $2.2 million in Q1 2023. The basic and diluted loss per share was $(0.06), improved from $(0.11) in Q4 2023 and $(0.03) in Q1 2023. EBITDA loss was $1.4 million, compared to $3.2 million in Q4 2023 and $70,000 in Q1 2023. Post Q1, the company raised C$10.7 million in new capital and eliminated C$11.7 million in convertible debt. Spectra7 aims to secure commercial orders from global data center customers for its active copper cable products in the second half of 2024.
Spectra7 Microsystems Inc. announced its financial results for the year ending December 31, 2023, with revenue of $9.9 million, a 57% gross margin, and a full year EBITDA loss of $4.1 million. The Company reiterated its Q1 2024 revenue guidance of approximately $0.75 million, with liquidity and exploring various alternatives to address the situation. The stock symbol for Spectra7 is SPVNF.
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