Relied on Celestial timing too much Mgmt has no strategic planning skills in the finance dept. Zacks report points out mgmt thinking. Celestial may have decided to focus more on licensing its tech which means it is subject to the same damn long sales cycle Poet was facing with its customers.
June 28, 2023 - Celestial is offering its interconnect product through a licensing program and says that it’s engaged with several “tier-one” customers, including hyperscalers and processor and memory companies.
The interconnect product appears to be priority number one for Celestial. The company sells its own AI accelerator chip, dubbed Orion, built on Celestial’s photonics architecture. But as investors told TechCrunch in a recent piece for TC+, AI photonics chips have yet to overcome engineering challenges that would make them practical at scale. Unless Celestial stumbled upon breakthroughs in the areas of data-to-analog conversion and signal regeneration — top stumbling blocks for today’s photonics chips — it’s unlikely that Orion is much further along than the competition.
April 10, 2023 Zacks report
"In addition to orders from SPX, POET should also be booking product revenues from at least Celestial AI and ADVA by year-end."
"We expect it needs to do another capital raise which should get easier as it starts to generate product revenues in Q3."