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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 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.
Spectra7 Microsystems Inc. (OTCQB: SPVNF) has announced its participation in two upcoming investor conferences. The first is the Loop Capital Markets 2022 Investor Conference on June 1, 2022, from 10:00 a.m. to 2:00 p.m. ET, hosted virtually. The second event, LD Micro Invitational XII, will be held in person on June 8, 2022, with a presentation at 9:30 a.m. PT at the Four Seasons Hotel in Westlake Village, CA. Investors can arrange one-on-one meetings through Loop Capital or contact Spectra7's investor relations.
Spectra7 Microsystems announces the commencement of production for its DreamWeVR™ chipset, following a significant design win from a major VR game platform provider. Initial shipments are underway and production is set to ramp over multiple years. The VR game industry is projected to grow from $7.9 billion in 2021 to $53.4 billion by 2028, presenting a lucrative opportunity for Spectra7. The chipset supports 4K HDR at up to 120Hz, enabling advanced VR experiences with ultra-low power consumption.
Spectra7 Microsystems reported impressive financial results for the fiscal year 2021, achieving $5.5 million in revenue, a remarkable 429% increase from 2020. The fourth quarter saw revenue soar to $2.6 million, marking a 591% year-over-year growth. Gross margin improved to 58%, up from 51% the previous year. However, the company continues to operate at a loss, reporting a basic loss per share of $(0.29). Looking ahead, revenue for Q1 2022 is estimated at $2.0 million, with anticipated growth in the first half of $5.5 to $7.0 million.
Spectra7 Microsystems Inc. reported preliminary Q1 2022 revenue estimates of approximately $2 million, due to Covid-related supply chain disruptions. The company's total customer orders for 2022 exceed $11 million, with unconstrained demand surpassing $20 million. Revenue for the first half of 2022 is projected to rise by 285% compared to the same period in 2021, reaching between $5.5 million and $7 million. The company is accelerating capital deployment to enhance supply and production capabilities.
Spectra7 Microsystems announced its participation at DesignCon 2022, showcasing a demonstration of 100Gbps server connectivity with Broadcom. The event will take place in Santa Clara, CA on April 6-7, 2022. The focus is on Active Copper Cables to meet the growing demands of hyperscale server interconnects, as the adoption of 56G PAM4 signaling rises. The global Ethernet adapter NIC market is projected to grow from $1.77 billion in 2019 to $16.30 billion by 2027, indicating a strong market opportunity. Spectra7 will exhibit at booth #1158.
Spectra7 Microsystems Inc. has announced a collaboration with Volex to develop next-generation Active Copper Cable (ACC) interconnects featuring Spectra7's GC1122 GaugeChanger™ chips, supporting data rates of 100Gbps to 800Gbps. This new technology aims to address growing power and cost challenges in data centers. Significant interest is noted from hyperscale customers for these 800Gbps ACCs. The GC1122 extends data rates from 56 to 112Gbps per lane, maintaining efficiency in longer copper connections without the expenses of optical solutions.
Spectra7 Microsystems (OTCQB: SPVNF) announced its participation in DesignCon 2022, taking place on April 6-7 in Santa Clara, CA. The company will showcase its innovative Active Copper Cable products designed for high-speed solutions up to 800Gbps. This event is a premier conference for high-speed interconnect technology, attracting engineers globally. Spectra7 aims to demonstrate its cutting-edge technology at booth #1158.
Spectra7 Microsystems Inc. (OTCQB: SPVNF) is set to showcase its new GC1122 chip at the Optical Fiber Conference (OFC) in San Diego from March 8-10, 2022. This chip supports 112Gbps PAM4 signaling, addressing the limitations of passive copper cables in high-speed data centers. The GC1122 extends cable reach to 4.5 meters while consuming only 200mW per channel—12 times less than optical solutions. CEO Raouf Halim noted significant interest from Hyperscalers in 400Gbps and 800Gbps cables enabled by this technology, signaling a growth opportunity for Spectra7's Active Copper Cables (ACCs).
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