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poLight ASA - a quarter confirming the potential in several market segments

18 August 2022

Horten, 18 August 2022 - poLight ASA (OSE: PLT) today announced its results for Q2 2022.

KEY EVENTS in the Quarter

*  Confirmed design-win award and first mass production purchase order worth approximately NOK 0.6 million for a barcode scan engine reader product

*  Signed an agreement to support a PoC (Proof of Concept) endoscopic camera system development with a top-tier medical device customer worth approximately NOK 1.7 million

*  Good progress on most PoCs

*  Augmented realty (AR) cases progressing well, with more design-wins possible this year

*  Increased activity in the industrial market, especially barcode related

*  Despite some smartphone OEMs experiencing reduced sales, the company is engaged in PoCs that are progressing well

"This was a quarter which gave us another design-win in the barcode area, bringing the total to four so far. We also signed a development contract related to a top-tier medical device customer and generally made good progress in PoCs in all market segments. Although the situation for many smartphone OEMs remains challenging, we are seeing good interest in our solution and progress has been made. The augmented reality cases we are exploring remain promising, and there are candidates for additional design-wins this year. From the operational and organisational perspective, things continue to improve and our overall readiness is good, although areas for improvement are expected to emerge as we start to increase production and customer deliveries over time.", said Dr. Øyvind Isaksen, the CEO of poLight.

EBITDA totalled NOK -13.9 million in Q2 2022, compared with NOK -13.7 million in Q2 2021.

As at 30 June 2022 poLight had cash of NOK 124.4 million, compared with NOK 55.6 million as at 30 June 2021.

Q2 report and presentation

Please find the report and presentation for Q2 2022 enclosed.

poLight Q2 2022 report.pdf

poLight Q2 2022 presentation.pdf

Presentation and webcast

CEO Dr. Øyvind Isaksen and CFO Alf Henning Bekkevik will present the company's results today at 09:00 CET at Continental, Stortingsgaten 24/26, in Oslo, Norway. The presentation can also be followed through live webcast. Join the Q2 2022 results webcast by clicking here:  

https://channel.royalcast.com/webcast/hegnarmedia/20220818_7

The presentation and supporting material will be given in English.

A recorded version of the webcast will be made available on www.polight.com shortly after the broadcast has been concluded.

Further information from:

Dr. Øyvind Isaksen, CEO, poLight ASA: +47 90 87 63 98

Alf Henning Bekkevik, CFO, poLight ASA: +47 91 63 05 14

About poLight ASA

poLight offers a new autofocus lens which "replicates" the human eye for use in devices such as smartphones, wearables, barcode, machine vision systems and various medical equipment. poLight's TLens® enables better system performance and new user experiences due to benefits such as extremely fast focus, small footprint, no magnetic interference, low power consumption and constant field of view. poLight is based in Horten, Norway, with employees in Finland, France, UK, US China and Taiwan. For more information, please visit https://www.polight.com

https://news.cision.com/polight/r/polight-asa---a-quarter-confirming-the-potential-in-several-market-segments,c3615671

https://mb.cision.com/Public/14821/3615671/be5bffd15ad95ed1.pdf

https://mb.cision.com/Public/14821/3615671/aad5b58225c567a6.pdf

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