Spectra7 Microsystems VR/AR revenue growing at fast pace

Modern day gadgets are becoming thinner. There are lots of companies which make them happen. One among them is Spectra7 Microsystems (TSXV: SEV). It is eyeing the multibillion dollar virtual reality and augmented reality segment.

The company recently announced shipments for eSight Corporation which produces electronic glasses designed to help blind see.  eSight Corporation have recently launched eSight 3 glasses which is lighter and affordable than the previous versions.

“Spectra7’s unique cable technology allows an eSight user to view what is in front of them in high-definition, while providing a thin, flexible interconnect cable to the eSight controller.” said Dr. Brian Mech, President & CEO of eSight. “More importantly, their advanced cable technology is a key part of eSight that allows us to achieve enhanced vision with virtually no latency in our displays, avoiding issues of imbalance or nausea common with other immersive options.”

Products

Spectra’s patented VR-9 DreamWeVR is the industry’s first and only integrated cable, connector and embedded chip product line for head-mounted displays (HMDs) and wearable computing.

Spectra’s patented AR-9 DreamWeVR reference designs are similar to the VR-9 series, but designed with the AR experience in mind. These products are capable of delivering video, audio, data and power in a unified light, thin, long reach cable from a mobile host device to a headset.

The company’s CouchConnect HDMI cable is upto 4 times thinner/longer than current HDMI cables.

Company’s  GaugeChanger Plus was named as one of the “Best of DesignCon 2017”.  Spectra7 GaugeChanger Plus product line is one of the most innovative solutions to solving the problem of bulky copper cables. It is also a cost effective alternate to expensive fibre optic or active copper cables. Some of the benefits are it adds flexibility to the data center. Spectra’s gauge changing technology, high speed signals are able to travel at 100Gbps + speeds on the thinnest (3.8mm) QSFP copper interconnect. Manufacturing process are engineered with high speed signals in mind. They are also one of the thinnest cables available.

DreamWeVR are new Virtual Reality ICs, Modules and Solutions for Next Generation 4K and 5K headsets

Source: investing.com

Financials

The company released its annual results on March 09, 2017. Revenues were $8.6 million a jump of 104% y-o-y.  Revenue growth was supported by strong AR/VR segment which was up 200% for the year. Revenue for the fourth quarter came at $2.5 million +135% when compared to the same period last year. Gross margin was 58% was down marginally when compared to 60% achieved last year.  The company has named Raouf Halim as the CEO replacing the former dynamic CEO Tony Stelliga, who passed unexpectedly in May 2016. Net loss for the year was $11.1 million when compared to a net loss of $14.3 million for 2015. Company raised CAD $6.7 million in October from a bought deal public offering of common shares.

About Spectra7 Microsystems

Spectra7 Microsystems Inc. is a high-performance analog semiconductor company delivering unprecedented bandwidth, speed and resolution to enable disruptive industrial design for leading electronics manufacturers in virtual reality, augmented reality, data centers and other connectivity markets. Spectra7 is based in Palo Alto, California with design centers in Markham, Ontario, Cork, Ireland, and Little Rock, Arkansas. For more information, please visit www.spectra7.com.

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