SPECTRA7 MICROSYSTEMS INC - SPVNF STOCK NEWS

Spectra7 Microsystems Inc. announces preliminary unaudited revenue results for Q2 2023 of $3.3 million, resulting in a record revenue for H1 2023 of $6.4 million. The company expects a strong gross margin of 63% for the quarter. Spectra7 anticipates revenue for 2H 2023 to be in the range of $5.5 million to $7.0 million. The company also expects to maintain its efficient operating expense structure. RSU grants have been announced for certain directors of the company.

Spectra7 Microsystems Inc. will participate in the Sidoti Micro Cap Conference on May 10, 2023. Management will provide an overview presentation and individual meetings will be available for attending Sidoti clients.

Spectra7 Microsystems reported significant financial growth, with 2022 revenue surpassing $11.3 million, a 107% increase from $5.5 million in 2021. The fourth quarter of 2022 also showed strong performance with revenue of $3.0 million, a 15% year-over-year rise.

Looking forward, the company anticipates generating revenue from its new 800G/1.6TB data center products beginning in the second half of 2023. Preliminary Q1 2023 revenue is expected to be $3.1 million, reflecting a 43% increase compared to Q1 2022.

On the cost side, non-IFRS operating expenses for Q4 2022 were $2.0 million, a 5% increase year-over-year.

Spectra7 Microsystems announced a partnership with Zhaolong Interconnect Technology Co. to supply Active Copper Cable assemblies featuring GC1122 GaugeChanger™ chips for North American and China data center markets. This collaboration aims to meet the increasing demand for faster interconnect speeds, particularly in hyperscale environments. Notably, the GaugeChanger™ technology is said to consume significantly less power compared to competitors, potentially reducing operational costs. The anticipated rollout of products utilizing this technology is expected to commence later in 2023.

Spectra7 Microsystems Inc. will participate in the KeyBanc Capital Markets 18th Annual Emerging Technology Summit on March 7, 2023, focusing on the Semiconductor Infrastructure Enablers track. The event will take place in San Francisco, California, at the Hyatt Regency Downtown SOMA. Investors interested in meeting with Spectra7 can contact their KeyBanc representative or reach out to investor relations via ir@spectra7.com. As a leading provider of high-performance analog semiconductor products, Spectra7 focuses on markets including data centers, 5G infrastructure, and virtual and augmented reality.

Spectra7 Microsystems Inc. (SPVNF) has partnered with ACES Electronics Co., Ltd to produce 800Gbps Active Copper Cable (ACC) assemblies aimed at North American hyperscalers and OEM/ODMs. The assemblies will incorporate Spectra7's innovative GaugeChanger™ technology, which significantly reduces power consumption compared to traditional methods. ACES reports substantial interest from major clients for these solutions as they prepare for next-generation data center deployments later in 2023. This collaboration is a strategic move to enhance accessibility and performance in the rapidly evolving data center market.

Spectra7 Microsystems Inc. (OTCQB:SPVNF) announced its entry into the rapidly growing Artificial Intelligence (AI) server connectivity market with the launch of its new GC1122 product, capable of supporting 800Gbps throughput. This product is designed to address the demand for high-performance interconnects as AI technologies gain traction. According to Grand View Research, the AI market was valued at USD 136.55 billion in 2022 and is expected to grow at a CAGR of 37.3% until 2030. The company also anticipates strong growth in specialized AI servers from 1.4 million units in 2022 to 4.7 million by 2026, indicating a robust market potential.