POET

Dev-stage photonic-interposer / co-packaged-optics narrative play. Q1 FY2026 (2026-05-14) print: rev $503K, net loss $12.3M, EPS -$0.08 (miss). Same release announced a $50M PO from Lumilens — stock +29.4% to $18.59 on the combined headline. TTM rev ~$1.07M vs -$62.96M loss; multiple ~2650× P/S — bid is on the CPO theme, not the print. Short interest 8.13% of OS.

• •2026-05-14 — Q1 FY2026 print: rev $503,389 (NRE + product), net loss $12.3M, EPS -$0.08 vs Street -$0.05 (miss by $0.03)
• •2026-05-14 — Disclosed $50M purchase order from Lumilens for optical engine modules. Forward-looking — track conversion timing + realized $ vs disclosed face value
• •2026-05-14 — Stock +29.4% to $18.59 on the combined Q1 + Lumilens headline; multiple now fully detached from print
• •2026-05 — Short interest 12.42M shares = 8.13% of OS (MarketBeat data). Others on the trade but not crowded-to-squeeze territory (vs 20%+ classic squeeze setups)
• •Q1 FY26 revenue cadence: $166,760 (Q1 25) → $503,389 (Q1 26) — growing off a small base; still ~zero relative to opex
• •TTM snapshot 2026-05: revenue ~$1.07M, net loss -$62.96M, quarterly burn $12-15M. Cash runway is the recurring catalyst — every 6-12mo financing cycle has historically diluted shareholders into the next narrative beat
• •Mcap implied ~$2.84B (152.8M sh OS × $18.59 spot, derived from SI ratio). TTM P/S ~2650× — multiple is on the CPO narrative + the next AVGO/NVDA/ANET CPO catalyst, not the underlying revenue
• •Setup tension: real CPO theme (NVDA Spectrum-X optical, AVGO 200G/lane silicon photonics, ANET Etherlink AI fabric) means POET is the cheapest-lottery-ticket screen on the bubble — but $1M TTM revenue against a $2.8B mcap and chronic dilution cadence mean the short setup tells are equally real. Both sides visible; flow-driven name