Sivers Semiconductors AB

And welcome to the fourth quarter 2024 webcast with Seaver Semiconductors. This is Vikram Vathulia, the group CEO. And I also have Lottie Sachs, our group CFO, for the presentation today. So on today's agenda, we'll talk about the Q4 results. There'll be an executive summary, which I will cover. Lottie will go over the financial results. I want to give some pretty key market and business updates for our audience and some takeaways. And I'll look to answer Q&A as they come in.

So let's get into the executive summary.

So for the fourth quarter, we had record revenues at 76.7 million SEAC and we also delivered strong adjusted EBITDA of plus 15.5 million SEAC. We showed sequential growth of 31% in our revenues and both the photonics business and wireless business had healthy sequential growth during this timeframe. The 76.7 million SEAC is a record revenue for the company in the history of Sievers. And so is the full year revenue at 243.7 million SIEC. Product revenues came in at 32% of the total, and that's an increase of 12.5 points year on year. And once again, shows our commitment to drive product sales higher and higher as our years and quarters go by. Let me cover some highlights. As I already mentioned, this is the highest recorded revenue quarter for the company, and it also sets the new baseline for taking into 2025 onwards. So if you remember last time, we talked about digesting a fantastic growth year in 2023 solidly in 2024 and forming a basis for future growth. And that's exactly what we have delivered in Q4. We also have good backlog and healthy order intake for growth in 2025, which is also essential to carry through momentum into the new fiscal year 2025. We've made sizable progress again on the road to profitability. We improved adjusted EBITDA for the full year by 21%, and that's a mission that continues to stay strong going into 2025 as well. We conducted a successful directed raise of 108 million SIEC, which we closed in January 2025. And our focus was to bring in fundamental long-term shareholders that see the potential for Sievers, not just in the near term, but also for the long term. And this is epitomized by Boardman Bay coming in as our first U.S.