Sivers Semiconductors: $8.2M Production Order and Corrected Loss Set Contrasting Tone Ahead of AGM

Swedish chipmaker's Ka-band chip order from satellite firm ALL.SPACE drives stock rebound amid accounting restatement and high volatility, with pipeline reaching $799M.

Sivers Semiconductors has secured an $8.2 million production order for Ka-band beamforming chips from satellite communications provider ALL.SPACE, a deal that marks the Swedish chipmaker’s shift from development-stage sampling to volume manufacturing. Shares jumped 12% in a single session on the news, but the rally follows a bruising week in which the company revealed a significant upward revision to its 2025 net loss — a consequence of its push for a secondary listing on the Nasdaq in New York.

The accounting restatement, required under the stricter PCAOB auditing standards for the US exchange, lifted the net loss for 2025 to SEK 222.6 million from the originally reported SEK 186.5 million. Revenue shifts between periods, inventory revaluations, and the write-down of capitalized development costs all contributed to the adjustment. The stock had already corrected to around €7.87 after the revision was disclosed, before bouncing to €8.81 on the order announcement. At its 52-week high of €10.23, reached on June 3, the shares were more than double the 50?day moving average, which has been reported in a range of €4.04 to €4.20.

The ALL.SPACE contract, scheduled for delivery in 2027, focuses on tactical terminals that operate across multiple satellite orbits. It also carries a strategic bonus: ALL.SPACE is nearing an acquisition by York Space Systems, a move that would embed Sivers’ technology deeper into the US defense and aerospace ecosystem — a tailwind the company didn’t engineer but stands to benefit from.

The order arrives as a rebuttal to a short-seller report that pressured the stock in early June. By demonstrating real revenue, a specific customer, and a delivery timeline, Sivers offers tangible evidence against bearish narratives. The company’s overall pipeline has swelled to $799 million at the end of the first quarter of 2026, up 77% year?on?year, though actual Q1 sales fell short of expectations because of delayed US defense budgets and currency headwinds.

On June 2, Sivers also announced a cooperation with GlobalFoundries to develop silicon photonics for AI data centers. The partnership targets the co?packaged optics and linear pluggable optics markets, which Sivers estimates will reach $25 billion by 2030. Integrating its laser arrays into GlobalFoundries’ silicon?photonics platform positions the company in another high?growth segment that complements its satellite?communications business.

The stock’s wild swings underscore the uncertainty. The annualized 30?day volatility stands at just over 250%, making Sivers one of the most volatile names in European tech. The relative strength index has oscillated between 60 and 63.6 in recent days, pointing to buying pressure without entering overbought territory. All eyes are now on the annual general meeting on June 15, where shareholders will vote on capital structure and board composition. Among the board nominees are Joakim Nideborn and Helena Svancar, seen as adding the international governance expertise needed for the Nasdaq listing. The meeting will test whether investors back the ambitious US?listing plan, which demands rigorous compliance but opens access to deeper capital markets — a high?stakes choice against a backdrop of production wins, accounting corrections, and extreme volatility.