We have finalized our debt refinancing as well. Those are all the highlights for the company. To reiterate, extremely strong revenue quarter for the company, revenues at SEK 78.5 million. That is a solid growth, 40% year on year per Q4. The adjusted EBITDA also showed significant improvement. Now let me hand over the mic to Lottie, our Group CFO, so she can talk about our financials in more detail. I will take you deeper into the markets and customers in a later section. Lottie, please go ahead.
Thank you, Vikram. Following a strong Fourth Quarter 2024, we delivered yet another quarter with record sales. Revenue growth was 40%, and total revenue amounted to SEK 78.5 million. We are delivering in accordance with the new baseline for quarterly revenue, thanks to the strong order book that we had in the beginning of the year. We have a strong momentum in business unit wireless, where sales increased 85% to SEK 58.2 million. That's an increase of SEK 26.8 million, largely coming from increase in NRE projects, including the US CHIPS Act projects. Wireless NRE projects increased SEK 25 million to a total of SEK 44.2 million. Product sales increased SEK 2 million to SEK 14 million, which is the second highest quarter to date. Sequential growth for wireless from Q4 was 5.2%. Photonics business unit sales was SEK 20.3 million, which was a decrease of 18%, or SEK 4.4 million.
Photonics decrease in NRE sales of SEK 9.7 million was partly offset by increased product sales of SEK 5.3 million. Total NRE sales amounted to SEK 9.6 million and product sales SEK 10.7 million. The sequential growth for Photonics compared to prior quarter was 2%. We continue to focus on improving adjusted EBITDA. Although slightly negative at SEK 2.6 million, it is an improvement year over- year- of SEK 5 million, or 65%. Although we are very pleased with the overall progress and trend in profitability level, we want to reiterate that Sivers adjusted EBITDA level is not a straight line. It will continue to see fluctuations in profitability between individual quarters, as profitability level is highly dependent on sales mix. Next slide, please. In the quarter, we delivered substantial growth in product revenues as we continue to advance our transformation towards a product business.
In Q4, we noted the highest level of product sales to date, amounting to SEK 25.1 million. In Q1, we followed that up with sales of SEK 24.6 million, which was an increase year over year of 41%. Both business units delivered an increase in product sales, where Photonics increased SEK 5 million and Wireless increased SEK 2 million, or 15.8%. Photonics share of product sales was 52.7%, and Wireless share was 23.9%. We are really pleased to see this development, as increasing product sales is demonstrating a focused shift towards a product-driven revenue model. In the longer term, we estimate product sales to be 80%. We will see layering in product ramps for future growth, where Wireless is preparing for some broad market subcontracts during this year, and the Photonics ramp-up will come somewhat later. Next slide, please.
Total product sale in the quarter was 31%, which was in line with fourth quarter. As growth in the quarter largely came from wireless NRE sales, sales distribution is impacted in favor of wireless share of total sales. In terms of geographical distribution, we continue to see increased share of North American sales. Partly, this is driven by the increased activity in the awarded contracts under US CHIPS Act. We are pleased with the progress we make, and we are trending in line with our plans.
Our teams across regions are focused to take the company to the next level on our growth journey. We also strengthened the company's financing through the equity raise completed in fourth quarter that will support continued successful growth. In addition, we finalized negotiations with a lender on our debt financing as we continue to optimize our long-term capital structure. Thank you, Vikram. I hand back to you.
Thanks, Lottie. On the back of very strong financial results, I'm going to now give a market and business update for what we see at Sivers as we continue to drive critical enabling technologies for a greener data economy. Okay? To remind our audience, we are in the middle of two very powerful long-term secular trends, probably the most powerful secular trends in the industry at this time in Semiconductors. We are focused on two momentum markets where there's a lot of progress shaping architectures and solutions for the future, namely AI data centers and satellite communications. What we offer are energy-efficient laser arrays and RF Beamformers. Let's dig into what's the latest in AI data centers.
NVIDIA, which has a very strong presence in AI data centers with their computing chipsets, held a GTC event in Q1 where they affirmed co-packaged optics are going to be essential for the next generation AI factories so that interconnects do not become a bottleneck in terms of speed or power consumption. What does this mean for AI data centers? What this means is co-packaged optics is going to become more and more important for scale-up and scale-out architectures in the AI data center. What do we mean by this? Very simply, scale-out is where you need to connect switches together, and scale-up is when you need to connect computing resources together either within one rack or across multiple racks. Regardless of where we need to speed up the interconnects, co-packaged optics are going to become very important.
This is a very interesting and powerful development for Sivers technology. Today, inside a data center, most of the optical interconnects we see connect switches, and they are called pluggable optics. As more and more optical components get sucked into the switch fabric or the compute chipsets, the architecture of pluggables will also have to evolve, and their economics also need to adapt. As the next generation scale-out and scale-up architectures come through, lasers will stay external because they need to be in a cooler place. It will also simplify pluggables to become more in the form factor of light sources which house these laser arrays. What does this mean for Sivers? If you look at it, light source TAM will increase, which is a positive development for us because our lasers can supply into these light sources.
As the volume of light sources increases, our laser array technology, which is where we have significant technical advantage over the competition, is going to become critical enablers for ultra-high bandwidth solutions. The technical value proposition strengthens. Additionally, by providing lasers in array formats, we make the assembly of the light sources simpler. Assembly is the single largest cost in light source fabrication, which means we will get a SAM advantage with better production economics as the volume of co-packaged optics-based solutions increases in AI data centers. We were at the OFC show in San Francisco earlier in Q1. It is the biggest show and industry event for photonics. Based on our array technology, we are seeing significantly strengthened customer interest and opportunity pipeline expansion for the types of solutions we are bringing to the market.
Our strategic customer, Ayar Labs, also was at this event, and they demonstrated a functional scale-up architecture that connects compute resources using their photonics solutions and Sivers laser arrays. For the first time, a customer in this space has shown a living, breathing, working solution, and that was received very favorably at this event as well. Additionally, what we like about Ayar Labs is they're also thinking about enabling the entire ecosystem. They have a very strong partnership with a contract manufacturer, a world-leading contract manufacturer called Jabil, where they are also envisioning how the racks will house trays of compute resources, but also laser array trays. What you see on the right is a rack with 64 light sources that allow multiple optical interconnects within a rack or across racks. Within these light sources are Sivers laser arrays.
We are seeing very strong evolution of architecture towards light sources and laser arrays for future AI data center deployments. Shifting to SATCOM, what we are seeing here is that architectural shifts in products and customer preferences are expanding the serviceable available market for us and also allowing us to launch new product lines, which means our product portfolio gets richer as well in terms of our offerings to the marketplace. Our key customer, Allspace, is making very strong deployment progress. They're strengthening their engagements in military SATCOM with their first Hydra multi-link terminal deployments to the US Navy and Army. Their opportunity pipeline also continues to expand, which is good news for us as well because we supply our beamformers into their solutions. Another very important development is traditional ground terminals are more and more moving into solutions using electronically steerable arrays.
There is a push now to make the terminals lighter and smaller and more portable by only housing the antenna arrays and the RF unit inside the terminal, enabling a digital interface to then do processing back in the cloud. That is where the ground terminal architectures are also going. Thirdly, from a geopolitical stance, Europe is now, in addition to the U.S., strongly pushing a coordinated modernization effort in space infrastructure. What does this mean for Sivers wireless? As the mobile terminal gets smaller and compact and lighter, our RF Beamformer value proposition strengthens because we can provide the highest levels of performance with the lowest power consumption and the smallest footprint. Our RF Beamformers are starting to become more and more interesting to a wide variety of customers that deploy ground terminals.
Additionally, our customers are finding it more favorable if their vendor can provide the antenna arrays as well as the RF Beamformers together because they are anyway tightly integrated. Sivers is in a unique position where we have the skill set to not only provide the RF Beamformers, but also antenna arrays that go along with it. We announced this product line of antenna arrays at the Mobile World Congress in February in Barcelona. In addition to that, because the ground terminals are getting virtualized, they need a digital interface inside the terminal. Our contract announcement with Intelsat is about providing digitizers for this evolving architecture. Ever since we have announced the partnership with Intelsat, who is a very branded global leader in SATCOM, our opportunity pipeline and customer interest has also started increasing significantly with many more branded names entering the opportunity pipeline.
Our technology had very strong reception at the Satellite 2025 show as well as the Mobile World Congress, all again top industry events for us that happen in Q1. Let's now move to products. Product proliferation is a key theme at Sivers. Lottie presented earlier that our product revenues continue to make meaningful increases as the quarters go by, and we want to sustain this momentum. The emphasis now at Sivers is to ensure that the return on investment from product shipments is emphasized beyond development projects. We want to see a very disciplined shift in our R&D mix. Even when we take on custom work, we are being very selective to prioritize those opportunities that have a clear line of sight to production where the customer's value proposition is also being well received in the marketplace.
This allows us to have more confidence that the work we do to develop products for these customers will end up in shipments and layer in product growth in the future. Secondly, now we are getting strong confirmation from the market that our product roadmap is in the right direction. This year, there is very conscious planning for broad market configurations which are not custom to any single customer, but can be picked up by multiple customers in our focus markets, thereby allowing us a multiplier effect in future product shipments. We would be releasing broad market SATCOM IC samples later in the year. We have also announced a partnership with O-Net Technologies, who's an optical networking module provider, for broad market lasers and laser arrays that we can provide to the marketplace.
This is also being received very well by the broad market in AI data centers. The whole idea is conscious choices on the products we make and the custom work we emphasize so that we can layer in product plans for future growth to continue to build on the strong progress we've had so far. As these products come through, we also want to expand our reach to be able to service more customers. We are expanding sales and customer applications resources. On the distribution partnerships, we already have RFPD and PALTEK. In the quarter, we also announced a very interesting partnership with NISCO Inc in Israel. Israel is a very fertile market for innovative solutions, and they are big participants in satellites and defense.
This is very exciting for us as we see our product revenues build, and we are making more meaningful engagements on the product side and also expanding our reach into the marketplace as we release these broad market configurations. As product shipments increase, we are also emphasizing a lean and agile supply chain at Sivers. With the announcement of WIN Semiconductors as our merchant foundry for our Photonics laser arrays, we now have merchant foundry partnerships with industry leaders like GlobalFoundries and WIN for both our wireless and our Photonics business now. They have lines and a very complementary partnership with us, which assures us manufacturing capacity as many of these markets begin to add more and more momentum to product shipments and architectural rollouts. It also allows us to reduce Sivers' internal CapEx.
That is another vector we want to strongly emphasize as we build our roads to profitability and sustain growth in the future. The Glasgow Laser Fab will remain our technology leadership fab where we will continue to evolve our leading-edge technologies to stay ahead of the game. It can also serve as a low-volume or pilot line for certain customer engagements. However, manufacturing and production at scale will be with GlobalFoundries for our wireless business and WIN Semiconductors for our laser business. This news has been very well received by our customers and their customers and the ecosystem because now we have very strong technology coupled with very reliable merchant foundry partnerships for production at scale. Key takeaways for the audience: very strong Q1 financials, the highest revenue quarter in the history of the company.
The product revenue growth trajectory is gathering momentum, and we are being very selective in the types of engagements we take on that will result in product shipments and product volumes. The asset-like manufacturing model is now in place and received very well by the ecosystem. Across these industry events, the Sivers technology value proposition has strengthened over the last quarter, and the opportunity pipeline is expanding. We are seeing more and more branded customer names entering the pipeline on both sides of our business, both the lasers Photonics business as well as the wireless business. The optimization of our long-term capital structure continues. As Lottie said, in addition to the capital raise we did in January, we have also finalized our debt financing. We continue to meaningfully manage our long-term capital structure. Thank you for listening.
If there are any questions, please put them in the chat box, and I'll see what I can do to address questions now. Thanks everybody for attending. We have a very strong Q1, and we look forward to building on it as we look ahead to executing in 2025 and beyond to our long-term strategy and our focused momentum markets. Thank you.