POET Technologies holds 2026 AGM, outlines production plans

POET Technologies Inc. (NASDAQ: POET) held its Annual General Meeting virtually on June 26, 2026, during which Chairman and CEO Dr. Suresh Venkatesan provided an update on the company's commercial activities and manufacturing progress.

According to the press release, the company's production ramp remains on schedule, with volume shipments of optical engines expected to begin in the second half of 2026. POET anticipates expanding capacity to up to 1 million units per month by the end of 2027, which it says represents a more than 10-fold increase from current production capacity.

The company raised $830 million in equity capital over the past 12 months and has warrants outstanding that could generate up to an additional $661 million if exercised. POET plans to deploy approximately $50 million for capital equipment purchases in the second half of 2026.

POET stated it has more than 10 active customer engagements that are collectively expected to exceed $100 million in future annual revenue. These include an agreement with Lumilens, a production order for 800G optical engines, and a non-recurring engineering agreement for External Light Source applications from a new customer.

The company's hybrid laser product, POET Blazar, remains on schedule for deployment at scale in 2028. POET also said it intends to add approximately 50 staff to its current global workforce of 115 within the coming months.

At the AGM, shareholders re-elected six directors, with no director receiving less than 94.35% of votes cast. Davidson & Company LLP was reappointed as auditor with 97% of votes cast in favor. The company had 172,590,000 shares issued and outstanding at the time of the meeting.

Following the AGM, the board granted a total of 79,450 restricted stock units to five independent directors, vesting on the first anniversary of the grant, under the company's 2025 Omnibus Incentive Plan.

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