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VIGO Photonics Q3 2026 revenue estimates
PRESS RELEASE
Ożarów Mazowiecki, October 13, 2026
- Record scale of business – nearly PLN 35 million in quarterly revenue, the highest quarterly result in the Company's history
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Significant backlog growth – PLN 86.5 million at the end of September (+70% YoY)
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Substantial growth in the industrial segment driven by new products – segment sales up 76% after 9 months of 2026
VIGO Photonics S.A. (WSE: VGO), a global technology manufacturer of the most advanced photonic mid-infrared detectors and detection modules, as well as semiconductor materials, generated PLN 34.5 million in consolidated revenue in Q3 2026, representing a year-over-year growth of over 48%. Revenue generated from the acquisition of InfraRed Associates amounted to approximately PLN 8.5 million in Q3.
In the third quarter of this year, our revenue once again approached the PLN 35 million level, which represents an increase of nearly 50% year-over-year and the best Q3 in history in terms of sales. The value of revenue derived from the acquisition of InfraRed Associates reached approx. PLN 8.5 million in Q3, remaining at a level similar to Q2 sales. We are particularly pleased with the performance of the industrial segment, where we recorded a over 76% increase in sales after 9 months, driven among other factors by new products- says Adam Piotrowski, President of the Management Board of VIGO Photonics.
Sales of detectors and detection modules in Q3 2026 reached PLN 32.5 million (+57% YoY), while semiconductor materials sales amounted to PLN 2.0 million (-24% YoY).
Total consolidated revenue of VIGO Photonics after 9 months of 2026 reached PLN 88.5 million (+35% YoY). Sales of detectors and detection modules during this period amounted to PLN 81.2 million (+35% YoY), and semiconductor materials generated PLN 7.3 million (+30% YoY).
The total value of new orders (order intake) at the end of September 2026 stood at PLN 117.3 million (+37% YoY), while the total backlog (comprising contracts and the new order backlog) reached PLN 86.5 million at the end of September, up over 70% year-over-year. The reported backlog figure does not include contracts acquired by VIGO Photonics Corp. from InfraRed Associates, nor orders secured by VIGO Photonics Corp. in the last quarter.
In the industrial segment, consolidated Q3 2026 revenue reached PLN 20.4 million (+130% YoY), while sales in the military segment during this period amounted to PLN 8.2 million (+35% YoY). Sales in the transportation segment were slightly lower year-over-year in Q3, amounting to PLN 2.3 million (-45% YoY). Semiconductor materials sales in Q3 2026 reached PLN 2.0 million, down by approx. 23% compared to Q3 2025.
In total, after 9 months of 2026, consolidated revenue in the industrial segment reached PLN 48.4 million (+76% YoY), in the military segment PLN 16.7 million (-5% YoY), and in the transportation segment PLN 11.3 million (+27% YoY). The semiconductor materials segment generated PLN 7.3 million in revenue during this period, representing an increase of nearly 30% year-over-year.
The share of applications in VIGO’s revenue structure for the first 9 months of 2026 was as follows: industrial application 55%, military 19%, transportation 13%, science and medicine 5%, and semiconductor materials 8%.
The third quarter represents another period of growing sales in our largest segment, industrial. Notably, we are seeing increased demand in this segment across all geographic regions, particularly from Europe and Asia. Organic growth in this segment, excluding revenues from the acquired facility in Stuart, reached 19% YoY after three quarters, and 76% YoY when including the acquisition- says Adam Piotrowski.
It is also worth highlighting the growing sales in the transportation segment, which increased by nearly 30% year-over-year after 9 months – driven in part by new contracts with Caterpillar. Meanwhile, in the military segment, sales remained stable after three quarters across both the Polish (PCO) and European markets- adds Adam Piotrowski.
In the semiconductor materials segment, we recorded a nearly 30% growth after 9 months. However, in the coming quarters, we expect slower growth dynamics due to export restrictions on dual-use goods imposed by the Ministry of Commerce of China, which was already reflected in our third-quarter performance- explains Adam Piotrowski.
Contact for media and investors:
Piotr Piotrowski, cc group
piotr.piotrowski@ccgroup.pl, +48 697 613 010
Karolina Sałajczyk-Stefańska, VIGO Photonics
+48 538 565 256
VIGO Photonics S.A. (WSE: VGO) is a global manufacturer of high-tech solutions, specializing in the most advanced mid-infrared photonic detectors, dedicated modules, and semiconductor materials. Its innovative devices have gained recognition and are widely used by numerous international clients in the industrial and transportation sectors, as well as in environmental protection, medicine, defense, and security. The quality of VIGO Photonics detectors has also been confirmed during NASA missions to Mars (including the Curiosity rover), where they were used to detect traces of methane on the planet.
VIGO Photonics is successfully expanding its operations in the production of semiconductor materials. To this end, the company has refined and utilizes epitaxy technology (the deposition of selected crystal layers onto a crystalline substrate) using elements from groups III–V of the periodic table. As part of its development strategy, VIGO Photonics aims to supply the global market with photonic integrated circuits (PICs) based on these semiconductors. These systems will have numerous applications in the consumer electronics industry. The company also aims to achieve a leading position in the emerging European silicon chip market.
VIGO Photonics (formerly VIGO Photonics) began operations in 1987 and has been listed on the main market of the Warsaw Stock Exchange since 2014. The company is headquartered in Ożarów Mazowiecki and has a subsidiary in the United States. It employs approximately 200 highly qualified specialists and scientists. In August 2022, the company changed its name to VIGO Photonics, having previously operated under the name VIGO Photonics.
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