POET appoints Baccielli as CFO as production nears, grants him 384,615 share units
Key Facts
POET Technologies appointed Giovanni M. Baccielli as chief financial officer effective November 2, 2026, succeeding Thomas Mika, who held the role for ten years, the company said. Mika will remain until December 2 to support the transition. The change comes ahead of third-quarter results, scheduled for November 16, as the company seeks to expand production of its optical engines and strengthen investor communications. POET said Baccielli’s experience in the semiconductor industry, capital markets and managing earnings calls would support the transition. The appointment closes a decade-long period of financial leadership, with Mika staying on during the first weeks of his successor’s tenure.
Baccielli previously worked in financial analysis, strategic planning and investor relations at Silicon Labs, where he spent more than eight years before moving to POET. The company said he managed earnings calls and led investor communications at a larger publicly traded semiconductor company. That experience stands out as POET links its transition to volume production with increased investor communication. Commenting on the company’s transformation, the chief executive said POET had grown from a small company operating on a tight budget into a well-funded commercial enterprise. He added that the company had raised more than 800 million dollars in capital over the past decade. This context places the new CFO’s responsibilities alongside the funding of commercial expansion described by management.
Baccielli’s appointment package included a grant of 384,615 restricted share units, vesting in three equal instalments on the first, second and third anniversaries of the grant. The vesting schedule spans three years, with the units representing equity-linked compensation under the terms of the appointment announced by the company. This comes as POET moves from development to expanding manufacturing, in line with the company’s stated plans. In its July 14 update, POET said it was targeting shipments of more than 30,000 optical engines during 2026. The company linked achievement of the target to successful customer qualification of its 800G engines and progress in development programmes. It also said its production capacity would expand substantially by the end of 2027.
Second-quarter results show a still-limited revenue base, despite growth from comparable periods. POET recorded 569,925 dollars in non-recurring engineering and product revenue, compared with 268,469 dollars in the second quarter of 2025 and 503,389 dollars in the first quarter of 2026. Over the same period, net loss narrowed to 11.3 million dollars from 17.3 million dollars a year earlier, while loss per share fell to 0.07 dollars from 0.21 dollars. The net loss in the first quarter of 2026 was 12.3 million dollars, or 0.08 dollars per share. These figures reflect year-over-year and sequential improvement in revenue, alongside narrower losses, while the company remains in the commercial production build-out phase.
Second-quarter revenue included an initial 50 million dollar order from Lumilens to manufacture engines based on the POET Optical Interposer. The company said the order represents the first phase of a broader supply relationship, with cumulative purchases potentially exceeding 500 million dollars over five years. After the quarter ended, POET received a new 2.4 million dollar purchase order from an existing customer. These orders add evidence of ongoing commercial activity, while expansion of targeted shipments depends on customer product qualification and progress in development programmes. The stock closed at 5.2 dollars on October 30, 2026, according to EL7 data. Investors are awaiting third-quarter results on November 16 for an update on the company’s performance during its expansion.
POET said it intends to begin holding quarterly financial results calls starting with the announcement of its fourth-quarter and fiscal 2026 results. This marks an announced expansion of its investor communication channels following Baccielli’s move into the CFO role. The next milestone is the announcement of third-quarter results on November 16, 2026, before the quarterly calls begin on the schedule set by the company. The announcement follows a second quarter in which revenue rose and losses declined compared with the prior year. The upcoming results will be the first quarterly report issued after Baccielli’s appointment, while Mika remains with the company until December 2 to support the transition.