Fourth quarter October - December 2024

• Net sales amounted to SEK 76.7 m (73.9), equivalent to an increase of 4% and a sequential quarterly increase of 31%. Net sales increased by 3% in constant currency.

• Adjusted EBITDA totaled SEK 15.5 m (21.0), a decrease by 26% and a sequential quarterly increase by 241%.

• Profit/loss before depreciation and amortization (EBITDA) amounted to SEK 9.6 m (13.5).

• Operating profit/loss (EBIT) was SEK -10.6 m (-33.8).

• Profit/loss after tax amounted to SEK 4.4 m (-46.4).

• Cash flow from operating activities was SEK 13.0 m (-27.6)

• Earnings per share before and after dilution were SEK 0.02 (-0.20).

• Equity per share amounted to SEK 4.98 (5.10).

January - December 2024

• Net sales amounted to SEK 243.7 m (236.3), equivalent to an increase of 3%. Net sales increased by 3% in constant currency.

• Adjusted EBITDA totaled SEK -15.6 m (-19.8), an improvement by 21%.

• Profit/loss before depreciation and amortization (EBITDA) amounted to SEK -31.3 m (-33.7).

• Operating profit/loss (EBIT) was SEK -127.1 m (-158.6).

• Profit/loss after tax amounted to SEK -116.3 m (-157.4)

• Cash flow from operating activities was SEK -73.5 m (-105.9)

• Earnings per share before and after dilution were SEK -0.49 (-0.68).

• Equity per share amounted to SEK 4.98 (5.10).
   

Sivers Semiconductors today announced record Q4 2024 results, highlighting sustained progress in addressing two critical secular trends: AI acceleration and mmWave adoption. With a focus on advanced photonics and wireless technologies, Sivers continues to drive innovation and engage marquee customers in these high growth, high-performance, energy-efficient sectors.

Financial Highlights:

• Q4 2024 revenue totaled SEK 76.7m, up from SEK 73.9m in Q4 2023, representing a 31% sequential growth quarter-over-quarter and 4% year-over-year increase.

• Adjusted EBITDA improved to SEK +15.5m, demonstrating strong operational performance and progress towards sustained profitability

• Product revenue increased to SEK 25.1m in Q4, reflecting continued success in strategic transformation to a product delivery business

• Full year 2024 revenue reached SEK 243.7m, a 3% increase from SEK 236.3m in 2023

• Cash flow from operating activities was SEK +13.0m in Q4

Market Focus and Growth Strategy The Photonics division announced a strategic relationship with a leader in optical infrastructure solutions through a signed SEK 47m (USD 4.3m) MOU focused on product qualification and manufacturing readiness for production ramps in 2027. This partnership advances the crucial transition to next-generation optical interconnects.

The Wireless division achieved significant milestones, including:

• Secured major chip development program with leading Tier-1 Telecom infrastructure vendor valued at SEK 60m (USD 5.4m)
• First development contract with Intelsat, a global leader in SATCOM, for digitizer development with volume deployment starting in 2026
• Lead SATCOM customer indicating accelerated deployment of first-generation terminals

Strategic and Operational Highlights:

• Successfully completed directed share issue that it initiated in Q4, securing SEK 108m (USD 9.8m) primarily for working capital needs for 2025
• Added first US-based deep-tech investor, Boardman Bay, bringing strong understanding of US market opportunities and extensive ecosystem network.
   
• Continued focus on operational efficiency and product revenue growth.

"Our record Q4 performance, with positive AEBITDA and strong sequential revenue growth, establishes a new baseline for our quarterly revenues in 2025 and validates our strategic focus on AI acceleration and mmWave adoption. As we expand our engagements with blue-chip customers and strengthen manufacturing partnerships, we are well-positioned to capitalize on the growth opportunities in these two key secular market trends." said Vickram Vathulya, President and CEO of Sivers Semiconductors.

Industry Recognition and Outlook

The company enters 2025 with a good backlog and healthy order intake of SEK 234m already for projects and products over the next couple of years and are working actively to convert an expanding pipeline of sizeable opportunities towards revenue growth in the coming years.Management remains focused on executing its growth strategy while maintaining operational discipline and driving towards sustained profitability.

For the full report, visit our website: https://www.sivers-semiconductors.com/investors/interim-reports/

Contact Information
Vickram Vathulya, President and CEO of Sivers Semiconductors
Tel: +46 (0)8 703 68 00
Email: ir@sivers-semiconductors.com

This disclosure contains information that Sivers Semiconductors is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the contact person set out, on 20 February 2025 at 08:30 CET.

About Sivers Semiconductors We are Critical Enablers of a Greener Data Economy with Energy Efficient Photonics & Wireless Solutions. Our differentiated high precision laser and RF beamformer technologies help our customers in key markets such as AI datacenters, SATCOM, Defense and Telecom solve essential performance challenges while enabling a much greener footprint. Visit us at: www.sivers-semiconductors.com