Stockholm—April 26, 2026, clock just past midnight CEST.
- Sivers has delayed its 2025 annual report release to May 15, moving it back from April 27, with the audit work for a potential Nasdaq New York dual listing dragging out the process.
- The annual general meeting has been pushed to June 15, but the first-quarter report is still set for May 20.
- The delay comes on the heels of Sivers’ shares surging, with the stock finishing Friday at SEK 31.96 on Nasdaq Stockholm.
Sivers Semiconductors AB is pushing back its 2025 annual report release by over two weeks, citing additional audit requirements tied to a potential dual listing on Nasdaq New York. The chip and photonics company, headquartered in Kista, has moved the new publication date to May 15 from the original April 27.
Timing is crucial here: Sivers is working to align its accounts with U.S. Public Company Accounting Oversight Board standards—better known as PCAOB rules—the audit framework required for firms looking to tap U.S. public markets. The company said the effort spans consolidated financial results for both 2024 and 2025, and is tied to its ongoing dual-listing review.
The company notified Nasdaq Stockholm that it’s pushing back its annual general meeting to June 15 from the previously planned May 27. No changes for the first-quarter 2026 interim report, which remains set for May 20.
Back on April 16, Sivers said it was weighing a Nasdaq New York listing but planned to keep its base in Sweden, looking to draw more U.S. tech-focused investors and expand its shareholder reach. At the same time, the company flagged that the required audit upgrade might trigger some tweaks—revenue could shift between quarters, inventory values might be adjusted, and share-option expense numbers could change. Still, Sivers maintained these adjustments wouldn’t be material to its overall financials or results.
The announcement follows a sharp rally in the stock. Sivers shares finished Friday at SEK 31.96, jumping 12.69% for the session and soaring roughly 669% since January. That puts the company’s market cap around SEK 9.44 billion, according to market data.
Just a week before, Sivers announced plans for a directed share issue—8.62 million ordinary shares at SEK 14.50 apiece, aiming to pull in roughly SEK 125 million pre-expenses, pending the nod from an upcoming extraordinary general meeting. Among those stepping in: DNB Disruptive Opportunities, DNB Nordic Small Cap, and Storebrand Sverigefond.
Chief Executive Vickram Vathulya said in the company’s April 16 statement that the capital “gave Sivers the ability to accelerate product development” and push customer ramps. The company plans to use the proceeds for photonics products targeting AI data centers and lidar, as well as wireless offerings for satellite, 5G, and defense. Funds will also cover internal systems to support bigger operations. Sivers Semiconductors
Investor buzz around Sivers lately has zeroed in on photonics—light-based tech that pushes data along at higher speed and lower energy compared to traditional electrical links. Sivers announced April 15 that Jabil will work on a 1.6T linear receive optical transceiver module, tapping Sivers’ distributed feedback lasers. Those lasers are crucial for moving light signals inside data-center networks.
“Energy efficiency is now a hard requirement,” said Alex McCann, managing director of Sivers’ photonics business, in the announcement. Customers want “more bandwidth without increasing power consumption,” according to Jason Wildt, Jabil’s vice president and general manager of photonics. Sivers Semiconductors
Competition is already in play. Coherent has rolled out 1.6T and 3.2T optical tech targeting AI-powered data center infrastructure, while Lumentum is offering 800 Gbps and 1.6 Tbps transceiver modules for the same AI and cloud markets. Broadcom, for its part, introduced optical DSP chips designed for low-power 1.6T pluggable modules.
There’s still risk here. The U.S. listing review hasn’t wrapped up, the annual report hasn’t dropped, and the company’s latest update didn’t rule out future accounting tweaks. EFN spoke with photonics specialists who cast doubt on this week’s surge in the stock. Peter Andrekson, a Chalmers professor, pointed to “highly competitive” conditions and noted that major players are developing similar tech. MarketScreener
Right now, Sivers faces a procedural hurdle rather than a product one: the audit uplift needs to be wrapped up, the 2025 report published, and shareholder meetings completed—these underpin both the upcoming capital raise and the annual accounts. Following the share spike, even minor delays could start to matter more than they typically would.
