POET Technologies Inc. reported audited consolidated financial results for the fourth quarter and full year ended December 31, 2018. Revenue for the fourth quarter of 2018 was USD 1.6 million, compared with USD 0.9 million in the preceding quarter and USD 0.7 million in the fourth quarter of 2017. The net loss in the fourth quarter of 2018 included non-cash stock-based compensation of USD 1.0 million, and non-cash depreciation and amortization of USD 0.7 million, compared with USD 1.1 million and USD 0.6 million, respectively, in the preceding quarter.

Revenue for the full year 2018 increased to USD 3.9 million, compared with revenue of USD 2.8 million in calendar year 2017. The net loss in 2018 included non-cash stock-based compensation of USD 4.0 million, and non-cash depreciation and amortization of USD 2.6 million.

The company previously estimated and continues to anticipate that total revenue generated from DenseLight operations will increase materially to a range of USD 8 – USD 10 million for full year 2019. All revenue generated by the company is regarded as sales from DenseLight. Gross margin is also expected to expand year-over-year in 2019 as NRE revenue becomes a higher percentage of consolidated revenue. NRE revenue is typically higher gross margin for the Company given that existing engineering and operational resources are not allocated to individual projects.