Palomino Laboratories Inc (OTC: PALX) is a pre-revenue semiconductor and optoelectronics company developing microLED-based optical interconnect modules for high-speed data communication applications. The company has no commercial products or sales as of the 10-K filed March 31, 2026, and has incurred losses since inception. Revenue generation depends on future commercialization of microLED technology targeting optical transceiver applications in hyperscale data centers, AI infrastructure, and semiconductor OEM platforms. Palomino became a public reporting company on September 29, 2025, through a reverse merger with Unite, a former shell company. The company raised aggregate gross proceeds of approximately $9.76 million through a private placement at $1.50 per unit as of the filing date. Palomino maintains a collaboration with the University of California, Santa Barbara (UCSB) and holds multiple patent applications across device architecture, materials integration, and optical packaging. The company has no sales or marketing organization and no established revenue model.

Revenue model

No revenue as of the 10-K filed March 31, 2026. The company is pre-commercial and funded through private placement equity issuance. It is exploring non-dilutive U.S. government contract R&D funding, though no applications had been started as of the filing date.

Products and services

MicroLED-based optical interconnect modules designed for short-reach and board-level data communication. Key claimed attributes include high-speed modulation supporting data transfer rates up to 100 times faster than standard 100 Mbps Ethernet, low-power optical emission, and monolithic chiplet-scale integration onto silicon platforms. Products are in early-stage development with no commercial launch as of the filing date.

Customers and end markets

Target customers identified in the filing include hyperscale data center operators, AI system integrators, and semiconductor OEMs. No customers or customer contracts existed as of the filing date.

Value-chain role

Early-stage component and module developer occupying the optical interconnect segment of the semiconductor supply chain. Palomino is upstream of system integrators, developing device architecture, materials processes, and packaging technology intended to replace VCSEL and edge-emitting laser solutions in optical transceiver modules.

Geographic exposure

U.S.-based operations. The filing references compliance with U.S. export control laws including EAR and ITAR for compound semiconductors and optoelectronics. No international operations or revenue disclosed.

Competitors

Lumentum Holdings Inc. (NASDAQ: LITE), Coherent Corp. (NASDAQ: COHR), Broadcom Inc. (NASDAQ: AVGO), OSRAM Opto Semiconductors Inc.

Source: SEC 10-K, filed 2026-03-31

Industry: Semiconductors & Related Devices