What interests me is the institutional investors Mika spoke of. So far, POET has checked a lot of marks:
- Supply chain for mass production built up in China
- Beta samples out, got design win from leading systems company
- Technology and product received critical acclaim in China
- Working with EU and NA T1 for their products.
- Economics are known. 400 interposers per 8" wafer, tens of thousands wafer capacity from Silterra, average optical engine cost is anywhere from $50 to $150. Will not be demand constrained ie we will sell as much as we could produce.
- IP portfolio protecting the OI platform.
- CEO was former GF CTO responsible for development and ramp of 28nm node. Rest of management are qualified.
What POET doesn't have yet:
- A sizeable backlog. Imo this is critical, as having a backlog guarantees revenue years ahead.
- Name of T1 customer (may never be known, and that's okay)
If I were an institutional investor, those would be the only thing stopping me from investing in this company. Unless I've never even heard of POET, ofc, which is why we have Adrian.
Will they commit to us when we announce more customers in the weeks and months ahead? I hope so, because in terms of risk vs reward, we are so very skewed towards reward imho.
