MetaOptics H1 revenue grows by nearly six times; company on track to fill orders in H2

[SINGAPORE] MetaOptics , which listed on the Catalist board of the Singapore Exchange (SGX) in September 2025, posted revenue of S$600,000 for the six months ended Jun 30 – up nearly six times from the year before, and equivalent to about 79 per cent of its entire revenue for the previous full year.

The S$600,000 for H1 came close to the S$800,000 that the company generated in the whole of FY2025.

MetaOptics attributed the jump to sustained commercial traction since it delivered its inaugural full-year results as a listed company, having raised S$6 million through a placement of 30 million shares at S$0.20 apiece at its initial public offering (IPO) last September, it said in a bourse filing on Tuesday (Aug 11).

It is the first pure-play metalens company to list publicly, and one of the newer names on the Catalist board.

The results come days after MetaOptics pulled the plug on its proposed Nasdaq dual listing.

The company first announced its plan for a dual listing on Nasdaq via American depositary shares in November 2025. It progressed to filing a Form F-1 registration statement with the US Securities and Exchange Commission in May 2026, followed by amended filings.

In June 2026, it received a revised SGX listing and quotation notice covering more than 121 million new shares.

On Aug 7, MetaOptics notified Nasdaq of its withdrawal from the listing process. Executive chairman Thng Chong Kim cited geopolitical uncertainty, volatility in technology stock valuations, ongoing technological disruption and the need for certainty over capital expenditure as reasons for not proceeding “at this stage”.

The company said it may revisit the plan for the dual listing when market conditions are more supportive; it also said that the withdrawal would not have a material impact on its net tangible assets per share or earnings per share for the current financial year, aside from the professional fees already incurred.

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Those professional fees show up in H1 2026’s net loss. The group’s net loss for the period was driven mainly by S$1.7 million in the fees and S$500,000 in non-cash items including depreciation, amortisation and finance expenses.

Excluding these one-off and non-cash items, the underlying net loss would have been at about S$1.8 million, the company said.

Order backlog supports growth

MetaOptics said its growth is underpinned by an order backlog for its metalens production equipment, with deliveries scheduled over the next six to 12 months.

Planned deliveries for the second half of the year remain on track, giving the group revenue visibility into the financial year ending Dec 31, 2027.

The company also pointed to a broadening customer pipeline, with discussions ongoing at various stages of sampling, qualification and evaluation, and commercial negotiation with multinational customers.

It has advanced partnerships covering equipment subsystems, wafer-level optics fabrication and mass production capacity on its four-inch and 12-inch direct laser writer platforms, aimed at shortening lead times and improving yields.

MetaOptics said commercial engagement continues to grow in three key growth vectors, with a rising number of non-disclosure agreements signed and more requests for information and quotations from major global technology companies received.

In co-packaged optics, the group’s 0.1 mm diameter metalens designs are drawing interest from industry leaders for mass production, it said.

MetaOptics said its proprietary processes, built on a scalable 12-inch deep ultraviolet lithography platform, position it to fabricate such metalenses at scale.

The group has also completed the design of a 12-megapixel colour imaging titanium dioxide metalens for a major global technology company. A prototype in progress, and its five-megapixel colour module is producing what it described as exceptionally clear images.

On production equipment, MetaOptics said its 12-inch metalens automatic testers are in strong demand from leading global semiconductor and consumer technology firms.

It added that it was the first to develop and produce a metalens tester, and has received requests for its direct laser writer platforms from technology companies, universities and research institutions.

The group said it remains well-capitalised, with cash and cash equivalents of about S$5.5 million as at Jun 30, which it said would support fulfilment of its equipment purchase orders and the scaling of its metalens fabrication processes towards mass production.

Shares of MetaOptics last traded 10.4 per cent or S$0.055 lower at S$0.48 on Tuesday, ahead of the announcement.