SPECTRA7 MICROSYSTEMS INC - SPVNF STOCK NEWS

Spectra7 Microsystems announces its collaboration with Volex to showcase the GC1122 GaugeChanger™ chip, aimed at enhancing 800Gbps data center interconnects. The demonstration is set for the DesignCon Conference on February 1-2, 2023, in Santa Clara, CA. The GC1122 chip increases data rates from 56Gbps to 112Gbps per lane and is expected to meet the growing demand for active copper solutions, projected to exceed $3B by 2026. CEO Raouf Halim emphasizes the strong customer demand for cost-effective 800G cables. This technology supports multiple Ethernet interface standards, further positioning Spectra7 in the evolving connectivity market.

Spectra7 Microsystems (OTCQB: SPVNF) announced its participation in the prestigious DesignCon 2023 exhibition, taking place from Feb 4-5, 2023, in Santa Clara, California. The company will showcase its innovative Active Copper Cable solutions capable of data speeds up to 800Gbps. DesignCon is recognized as a key conference for high-speed interconnects, attracting global engineering professionals. Spectra7 aims to highlight its leadership in high-performance analog semiconductors that support diverse connectivity markets, including data centers and 5G infrastructure. The company operates out of San Jose, California, with additional locations in Ireland and China.

Spectra7 Microsystems Inc. reported preliminary financial results for Q4 2022, indicating a revenue of $3.0 million, representing a 14% year-over-year increase. For the full year 2022, revenue soared approximately 106% to $11.3 million compared to $5.5 million in 2021. The gross margin for Q4 was over 58%, while operating expenses remained stable at $1.9 million. The company anticipates Q1 2023 revenue between $3.0 million and $3.2 million. Spectra7 aims to achieve EBITDA profitability in 2023, with expectations for improved supply and high order backlogs.

On January 16, 2023, Spectra7 Microsystems (OTCQB:SPVNF) announced that CEO Raouf Halim has returned to full-time duties after a medical leave. Halim expressed excitement about significant growth opportunities for 2023 in the AR/VR and data center markets. The company also granted 50,000 restricted share units to the CFO. Spectra7 specializes in high-performance analog semiconductors for broadband connectivity, aiming to disrupt industries such as data centers and 5G infrastructure.

The announcement highlights the company's focus on growth and adaptability amidst leadership transitions.

Spectra7 Microsystems Inc., a leader in high-performance analog semiconductors, will participate in the Sidoti Microcap Conference on January 18-19, 2023. Management is scheduled to present on January 19, 2023, at 11:30 a.m. Eastern Time. The event will be held virtually, and investors can join the live stream via the provided link. Interested parties can arrange meetings with Spectra7 through their Sidoti representatives or the investor relations email. For additional details, visit www.spectra7.com.

Spectra7 Microsystems Inc. (OTCQB: SPVNF) announced a collaboration with ACON and Mo-Link to demonstrate their Thunderbolt 4 Active Copper Cable featuring Spectra7's GaugeChanger™ GC2502 chips at the Consumer Electronics Show (CES) in Las Vegas from January 5-8, 2023. The technology enables high-speed data transfer of up to 40Gb/s over 2 meters of copper cable, extending its length without the drawbacks of optics. The demonstration will showcase connectivity between an Apple MacBook Pro and an LG 40'' Monitor. This partnership aims to advance interconnection solutions in the consumer market.

Spectra7 Microsystems Inc. reported significant financial growth in Q3 2022, with revenue reaching $2.7 million, a 71% increase from $1.6 million in Q3 2021. Year-to-date revenue hit a company record of $8.3 million, up over 190% from the previous year. Despite a slight dip in gross margin to 55%, it improved from 43% in Q2. The company expects full-year revenue of approximately $11.2 million, doubling the 2021 figure, and anticipates EBITDA-positive operations in 2023.

On October 24, 2022, Spectra7 Microsystems Inc. announced the return of CEO Raouf Halim to a half-time role after a temporary medical leave. This follows his limited return to board duties on August 29, 2022. Chairman Ron Pasek expressed gratitude towards the management team for their efforts during Halim's absence, noting successful execution of the company's strategy. Halim expressed appreciation for the team and a willingness to return full-time in the future. The company specializes in high-performance analog semiconductors for broadband connectivity.

Spectra7 Microsystems reported a 189% revenue growth year-over-year for the first nine months, with Q3 revenue expected around $2.7 million, totaling $8.3 million year-to-date. Key drivers include a design win for an AR/VR game console and anticipated growth in the hyperscale data center market. The company expects record revenue in 2023, projecting Q4 revenue between $5.3 million and $6.0 million. Total operating expenses for H2 2022 are estimated between $4.5 million and $4.8 million.