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Is There Any Reason As To Why The Spectra7 Microsystems (SPVNF) Stock Expanded By 23%?

Spectra7 Microsystems Inc (OTCQB: SPVNF) rose 23.04 percent to $1.3200 at yesterday’s close. A 60.78K volume was recorded for SPVNF stock on that day, compared to a 21.36K average weekly volume. Spiking in SPVNF stock followed by the company provided unaudited preliminary financial results.


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What period has SPVNF provided results for?

Spectra7 is a leading manufacturer of high speed, high resolution, and high bandwidth analog semiconductors. Leading electronics manufacturers use SPVNF products to deliver disruptive industrial design in virtual reality, augmented reality, mixed reality, data centers, and other applications. In addition to its headquarters in San Jose, California, SPVNF has offices in Cork, Ireland, and Dongguan, China, which provides technical support.

Spectra7 announced unaudited preliminary financial results for the three months ended September 30, 2021, this week.

Preliminary Q3 results for 2021:

  • For the third quarter of 2021, SPVNF expects revenues to be approximately $1.5 million, compared to $0.3 million for the same period in 2020.
  • From $0.7 million in the second quarter of 2021, SPVNF’s revenue almost doubled.
  • Over a year-over-year comparison, SPVNF revenue increased more than 400% and by 100% sequentially.
  • For the third quarter of 2021, SPVNF’s gross margin as a percentage of revenue is projected to be about 58%, compared to 55% for the third quarter of 2020 and 59% for the second quarter of 2021.
  • SPVNF’s non-IFRS operating expenditures are forecast to range from $1.8 million to $2.0 million, up from $1.1 million in the third quarter of 2020 and $1.8 million in the second quarter of 2021.
  • While SPVNF’s production ramp was kept focused on meeting rapidly rising data center customer demands, its expenditures were higher than the industry average.
  • SPVNF’s third-quarter shipments continued to ramp up, resulting in more than doubling its revenue sequentially to $1.5 million.
  • Using strong confirmations of customer orders into 2022, SPVNF expects this momentum to continue in the fourth quarter, with revenue again doubling sequentially.

Financial Outlook for Q4 2021

In the fourth quarter of 2021, Spectra7 (SPVNF) expects significant growth in revenue from an increasing order backlog for its data center products, to a range between $2.5 million and $3.5 million. This would be a nearly 800% increase over the $0.4 million of revenue reported in the fourth quarter of 2020. Over $7.4 million worth of order backlog has accumulated since Q4 2021. SPVNF predicts that EBITDA profitability will be achieved in Q4 2021 with this current outlook.

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