Spectra7 Microsystems Inc - SPVNF STOCK NEWS

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.

Spectra7 Microsystems Inc. has partnered with Elka International to produce an HDMI IC embedded in automotive cable harnesses for JVCKENWOOD, a major automotive supplier. This advanced interconnect solution reduces the cable gauge and weight by nearly 10x compared to traditional options, supporting HDMI resolutions up to 1080p at 60Hz. With significant business expected, this cooperation highlights Spectra7's innovative approach to automotive connectivity solutions.

Spectra7 Microsystems Inc. reported a record first-half revenue of $5.6 million, reflecting over 330% growth year-over-year. The second quarter revenue reached $3.5 million, a 380% increase from $0.7 million in the previous year. However, gross margin fell to 43% from 59% due to increased costs for wafers and supply chain constraints. The company expects second-half revenue between $4.6 million and $6.0 million and aims for a full-year total exceeding $11.0 million.

On June 22, 2022, Spectra7 Microsystems Inc. announced a collaboration with ACES Electronics to design Active Copper Cable assemblies utilizing Spectra7's GaugeChanger™ chips for hyperscaler and OEM/ODM markets. This technology offers significant power savings (700% to 1000%) compared to traditional solutions, supporting speeds of 25 Gbps to 800 Gbps. ACES anticipates delivering product samples in the latter half of 2022, enhancing product access across global data center interconnect markets.

Spectra7 Microsystems Inc. announced the results of its Annual and Special Meeting of Shareholders held on June 9, 2022. All resolutions were adopted, including the election of directors, appointment of auditors, and approval of Amended Equity Incentive Plans. These plans reserve up to 6,710,018 common shares, approximately 20% of current outstanding shares, for issuance. The Amended Plans were approved by the board prior to the meeting, granting 227,882 restricted shares to certain directors and service providers. Final approval is pending from the TSX Venture Exchange.

Spectra7 Microsystems Inc. reported a remarkable 275% increase in Q1 2022 revenue, reaching approximately $2.1 million, up from $0.6 million a year earlier. The company anticipates first-half revenue to surge by over 300% year-over-year, driven by high demand for its products in data centers and AR/VR. Challenges included $1 million in delayed shipments due to Covid-related closures in China, impacting gross margin, which fell to 43% from 57%. Operating expenses rose to $2.4 million. EBITDA loss expanded to $(1.3) million.