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VIGO Photonics Revenue Estimates for Q1 2026. VIGO Detectors in the Artemis II Mission
PRESS RELEASE
Ożarów Mazowiecki, April 15, 2026
VIGO Photonics S.A. (WSE: VGO), a global technological manufacturer of the most advanced photonic mid-infrared detectors and detection modules as well as semiconductor materials, achieved PLN 19.3 million in consolidated revenue in Q1 2026 (-12.5% y/y).
The value of sales of detectors and detection modules in Q1 2026 amounted to PLN 17.8 million (-15.6% y/y), and semiconductor materials to PLN 1.5 million (+24% y/y).
The value of new orders (order intake) at the end of March 2026 was PLN 23.8 million (+5% y/y), and the total backlog (including contracts and the new order backlog) amounted to PLN 43.9 million at the end of March and was higher by over 77% y/y.
The first quarter of 2026 was slightly weaker in terms of sales year-on-year, where the execution of several smaller contracts, mainly from the industrial segment, shifted to subsequent periods. We expect, however, that on a half-year-to-half-year basis and in the whole of 2026, sales will be higher compared to the comparable periods of the previous year. In our overall pipeline, we see significant orders from Polish, European and American customers, and the total backlog at the end of the first quarter is higher by over 77% year-on-year. The acquisition of the assets of the American company InfraRed Associates, finalized by us in March this year, and the execution of existing and new contracts from that market will also certainly contribute positively to increasing revenues in 2026 – says Adam Piotrowski, President of the Management Board of VIGO Photonics.
In the industrial segment, Q1 2026 revenues amounted to PLN 8.8 million (-17% y/y), in the military segment sales in this period amounted to PLN 4.6 million (-30% y/y). In turn, sales in the transport segment amounted to PLN 2.8 million and almost tripled compared to the corresponding period of the previous year.
Sales in the semiconductor materials segment amounted to PLN 1.5 million in Q1 2026 (+24% y/y).
The share of applications in VIGO's revenue structure in the first quarter of 2026 was respectively: industrial application 45%, military 24%, transport 15%, science and medicine 8% and semiconductor materials 8%.
Geographically, the European market remains the largest sales market for VIGO, with an approx. 40% share in total revenues in Q1 2026. Sales in this market primarily include detectors used in industry and the military. Revenues from the European market in Q1 2026 amounted to PLN 7.6 million (-30% y/y).
Sales in the American market in Q1 2026 amounted to approx. PLN 3.7 million (+8% y/y), constituting approx. 19% of VIGO's total sales. The largest share in sales in that market is currently held by detectors for gas analysis, as well as detectors for laboratory needs.
Sales in the Asian market in Q1 2026 amounted to PLN 3.3 million (-7% y/y). This amount consisted of revenues from the industrial segment and sales in the scientific segment (for the needs of laboratories and universities).
Sales in the Polish market in Q1 2026 amounted to PLN 4.6 million (+21% y/y). On the domestic market, VIGO primarily achieves revenues from contracts with the military sector (PGZ Group).
Acquisition of InfraRed Associates assets
On March 25 this year, VIGO announced the finalization of the acquisition of the assets of the American company InfraRed Associates, a leading American manufacturer of infrared detectors. The transaction, valued at USD 8.4 million, constitutes a key element of the geographical expansion strategy and the strengthening of VIGO's position in the high-tech sector. The company's assets were acquired by VIGO Photonics Corp. – the American subsidiary of VIGO Photonics.
InfraRed Associates, Inc., present on the market since the 1970s, is a recognizable manufacturer of liquid nitrogen-cooled (LN2) detectors and operates on a global scale - with particular emphasis on the American, Asian and European markets. Its products reach recipients from the industrial, scientific and military sectors. The company's headquarters is located in Stuart, Florida – in one of the key centers of the American defense and technology industry. It has its own production facilities, know-how, and a wide customer base in the USA and on international markets.
The acquisition of the assets of the American entity will increase and diversify VIGO's revenues and strengthen its position in the industrial and military sectors, which are most important for the company, and will allow for full utilization of VIGO's production capacity. The transaction is also significant from the point of view of conducting the company's business in the USA - having a production plant in the USA is key to meeting the requirements for supplies to the American defense sector.
InfraRed Associates' revenues in 2024 amounted to USD 8.9 million, and in 2025 USD 8.7 million. In turn, the operating profit, adjusted for transaction expenses, amounted to USD 1.44 million in 2024, and approx. USD 1.5 million in 2025 (estimated data).
The execution of the transaction was possible, among others, thanks to the support of the Foreign Expansion Fund managed by PFR TFI S.A. from the Polish Development Fund Group and financing from the PKO BP bank.
Artemis II Mission
Once again, VIGO Photonics has become part of the breakthrough Artemis program. NASA used the Polish company's infrared detectors in the Laser Air Monitor System (LAMS) during the Artemis II mission. The LAMS system consists of four individual LAM (Laser Air Monitor) sensors, each of which is equipped with a VIGO detector, enabling extremely precise measurement of total pressure, and partial pressures of $CO_{2}$, $H_{2}O$ and $O_{2}$. This system monitors air quality both in the cabin and in the spacesuits.
The entire system has "Criticality-1R" status, which means that its reliable operation is of key importance for the safety and life of the crew. High measurement precision is necessary to maintain optimal environmental conditions and ensure the safety of astronauts during space missions.
The detectors passed rigorous qualification tests, including extreme overloads and vibrations accompanying the launch of the Space Launch System (SLS) rocket, as well as operation in the demanding conditions of the space vacuum.
The choice of our detectors for such a prestigious and critical project as the Artemis II mission confirms that VIGO Photonics technologies meet the most rigorous safety and reliability standards in the world – comments Adam Piotrowski. We are proud that Polish technological thought is once again co-creating the history of space exploration and supporting man's return to the Moon.
Industry events 2026 (completed)
- Arizona Photonics Days 2026 (USA)
- PIC Summit USA 2026 (USA)
- SPIE Photonics West 2026 (USA)
- OPTRO2026 ( Francja)
- Loitering Munition Systems Summit (USA)
- EPIC Technology Meeting on Integrated Photonics and Packaging at PHIX (Holandia)
- SpaceShield Summit 2026 (Polska)
- EPIC Technology Meeting on Photonics for Defense (Francja)
- Belgian‑Polish Space4Defence Event (Polska)
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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