Joined June 2024
- Tweets 133
- Following 51
- Followers 57
- Likes 150
32 Photos and videos
May 25
things I keep coming back to on $VELO:
- SpaceX paid $8M to a near-bankrupt VELO in Sept 2024 ($5M license $3M support). the contract invokes Section 365(n) of the US Bankruptcy Code: if VELO collapses, SpaceX legally inherits complete access to ALL source code, IP, and designs. they engineered a deal that wins whether VELO survives or dies. you do not write that clause for a replaceable supplier.
- 70% of new orders are REPEAT orders. parts-as-a-service, not capital equipment cyclicality. different business, different multiple.
- new CFO Suva on his first earnings call: "Absolutely I do" on H2 EBITDA positive. no hedge.
- Q1: revenue beat consensus 39%. gross margin swung 91 POINTS in ONE quarter (-73.6% to 17.2%). not a turnaround. an inflection.
- CEO Jeldi same call: demand is "10x of what we need as a capacity now." direct quote.
- long-term target: 400 production machines. 15 today. 40 by EOY 2026. scale story in a microcap wrapper.
- CEO Performance Award vests on MARKET CAP milestones: 10% at $1B, 20% at $3B, 30% at $5B, 40% at $10B. first tier is 1.8x from current. full vest is 18x. that is the upside the board literally wrote into the comp plan.
- and in March, Jeldi PERSONALLY bought a $5M company note and converted it into stock at $16.38, a PREMIUM to market.
- $50M Cantor cleared at $14. $100M ATM with Cantor/Needham/Craig-Hallum at $19.84 reference. three institutional banks don't sign that cover unless they see the move.
- speculation: Raptor 3 deletes external plumbing for integrated cooling. Raptor 4 extends it. printed content per engine goes UP while Starship production ramps. content AND unit growth.
- speculation: Anduril Barracuda high-rate production wants SupportFree propulsion. nobody is modeling this.
and someone just bought 4,800x June $30 calls @ $1.00. $480k in premium. someone is positioning.
1
165
Feb 12
$POET Technologies hired Ghazi Chaoui as SVP Global Manufacturing. Former Chief Procurement Officer at Coherent. Nearly 40 years in photonics production at AT&T Bell Labs, Lucent, Infinera, Oclaro.
He's stationed in Penang, Malaysia, next to Globetronics where POET's wafer-level assembly equipment is already installed and running. His job is scaling 800G and 1.6T optical engine output.
Companies don't relocate a manufacturing exec with this resume to oversee a production line with no orders in the pipeline.
Check their careers page. Five open roles right now. All of them are manufacturing, supply chain, operations, and test. Not a single R&D or design position. That tells you where this company is in its lifecycle.
1
1
16
2,865
