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SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2024
SEGMENT INFORMATION

17. SEGMENT INFORMATION

 

The Company and its subsidiaries operate in a single segment; the design, manufacture and sale of semiconductor products and services for commercial applications. The Company’s operating and reporting segment reflects the management reporting structure of the organization and the manner in which the chief operating decision maker regularly assesses information for decision making purposes, including the allocation of resources. A summary of the Company’s operations is below:

 

OPEL, ODIS, POET Shenzhen, SPX and PTS

 

OPEL, ODIS, POET Shenzhen, SPX and PTS are the designers and developers of the POET Optical Interposer platform and optical engines based on the POET Optical Interposer platform.

 

BB Photonics

 

BB Photonics developed photonic integrated components for the datacom and telecom markets utilizing embedded dielectric technology that enabled the partial integration of active and passive devices into photonic integrated circuits. BB Photonics’ operation is currently dormant.

 

On a consolidated basis, the Company operates geographically in Singapore, China (collectively “Asia”), the United States and Canada. Geographical information is as follows:

 

As of December 31,  Asia   US   Canada   Consolidated 
2024 
As of December 31,  Asia   US   Canada   Consolidated 
Current assets  $1,325,632   $341,240   $53,815,162   $55,482,034 
Long-term deposit   107,890    -    -    107,890 
Property and equipment   12,256,402    501,280    -    12,757,682 
Patents and licenses   -    606,708    -    606,708 
Right of use asset   677,553    20,582    -    698,135 
                     
Total Assets  $14,367,477   $1,469,810   $53,815,162   $69,652,449 

 

 

POET TECHNOLOGIES INC.

 

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Expressed in US Dollars)

 

17. SEGMENT INFORMATION (Continued)

 

Year Ended December 31,  Asia   US   Canada   Consolidated 
Revenue  $41,427   $-   $-   $41,427 
                     
Selling, marketing and administration   (3,329,834)   (6,615,379)   (8,826,208)   (18,771,421)
Research and development   (7,536,414)   (3,618,983)   (179,244)   (11,334,641)
Loss on the acquisition of the remaining interest of SPX   -    -    (6,852,687)   (6,852,687)
Interest expense   (74,644)   (28,029)   -    (102,673)
                    
Loss on fair value of derivative warrant liability   -    -    (20,631,082)   (20,631,082)
Other income, including interest   5,873    -    942,083    947,956 
Forgiveness of Covid-19 government support loans   -    -    7,298    7,298 
                     
Net loss  $(10,893,592)  $(10,262,391)  $(35,539,840)  $(56,695,823)

 

As of December 31,  Asia   US   Canada   Consolidated 
2023 
As of December 31,  Asia   US   Canada   Consolidated 
Current assets  $326,926   $149,227   $2,693,592   $3,169,745 
Property and equipment   4,089,653    533,575    -    4,623,228 
Patents and licenses   -    502,055    -    502,055 
Right of use asset   379,462    102,927    -    482,389 
                     
Total Assets  $4,796,041   $1,287,784   $2,693,592   $8,777,417 

 

The Year Ended December 31,  Asia   US   Canada   Consolidated 
Revenue  $465,777   $-   $-   $465,777 
                     
Selling, marketing and administration  $(2,753,484)  $(6,226,291)  $(1,815,380)  $(10,795,155)
Research and development   (6,249,120)   (3,662,418)   (166,392)   (10,077,930)
Loss on fair value of derivative warrant liability   -    -    (24,865)   (24,865)
Interest expense   (27,906)   (42,276)   -    (70,182)
Gain on contribution of intellectual to joint venture   1,031,807    -    -    1,031,807 
Other income, including interest   -    -    234,990    234,990 
Share of loss in joint venture   (1,031,807)   -    -    (1,031,807)
                     
Net loss  $(8,564,733)  $(9,930,985)  $(1,771,647)  $(20,267,365)

 

As of December 31,  Asia   US   Canada   Consolidated 
2022 
As of December 31,  Asia   US   Canada   Consolidated 
Current assets  $664,658   $133,501   $8,770,035   $9,568,194 
Property and equipment   4,496,734    573,773    -    5,070,507 
Patents and licenses   -    510,705    -    510,705 
Right of use asset   55,775    185,272    -    241,047 
                     
Total Assets  $5,217,167   $1,403,251   $8,770,035   $15,390,453 

 

 

POET TECHNOLOGIES INC.

 

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Expressed in US Dollars)

 

17. SEGMENT INFORMATION (Continued)

 

The Year Ended December 31,  Asia   US   Canada   Consolidated 
Revenue  $552,748   $-   $-   $552,748 
                     
Selling, marketing and administration   (2,121,596)   (5,885,970)   (1,508,705)   (9,516,271)
Research and development   (6,344,016)   (4,205,177)   (197,550)   (10,746,743)
Gain on contribution of intellectual property to joint venture   1,746,987    -    -    1,746,987 
Interest expense   (17,701)   (32,037)   -    (49,738)
Forgiveness of Covid-19 government support loans   -    -    -    - 
Other income, including interest   -    -    188,320    188,320 
Share of loss in joint venture   (3,211,993)   -    -    (3,211,993)
                     
Net loss  $(9,395,571)  $(10,123,184)  $(1,517,935)  $(21,036,690)