US-listed SIVE Earnings Preview: Market Focuses on CPO Laser Orders and 2027 Volume Ramp-Up

Serenity noted in a report that photonics chip firm Sivers Semiconductors (SIVE) will release its financial results in two days. The market’s current focus is not on short-term financial data, but rather on progress in customer certifications, joint development, and order volume growth for its photonics business. Serenity added that Sivers is expected to obtain more information soon regarding photonics joint development, customer certifications, and contracts. AAOI previously disclosed that multiple clients are seeking CPO lasers, but demand cannot be met due to capacity constraints; MTSI also stated that a large number of clients are competing for continuous wave (CW) laser production capacity, with new capacity not coming online until the second half of 2027. If Sivers can disclose more details on customer demand and capacity locking, this will be seen as a strong demand signal. In terms of volume growth, Jabil’s (JBL) related business is considered a key driver of Sivers’ revenue growth in the first half of 2027, while Aeva’s (AEVA) related business is expected to contribute revenue in the second half of 2026. Additionally, joint development projects with other pluggable optical module clients are also expected to move from the certification phase to mass production. The market will also monitor Sivers’ NASDAQ listing progress, future revenue pipeline, and early bulk orders. Since the company recently completed a $70 million financing round, eliminating dilution pressure, its balance sheet issues are expected to have been alleviated. The market observer believes that Sivers’ core valuation logic remains the future volume growth potential of its photonics business. If the company can further disclose locked CW capacity, customer demand, and future revenue scale, this could prompt the market to re-evaluate its valuation.