KEY EVENTS
. Successful initial public offering and listing on the Oslo Stock
Exchange
. Positive development for ongoing smartphone proof-of-concept (PoC)
studies
. Progress with potential barcode- and Augmented Reality (AR)
customers
. Increased interest for TLens® technology from sectors requiring
small high-quality cameras
. Received formal VAT refund claim from local tax authorities
poLight ASA (OSE: PLT) today announced its first financial report following the
successful initial public offering and listing of the company's shares on the
Oslo Stock Exchange.
Revenue of NOK 0.3 million in the third quarter of 2018 was related to delivery
of TLens® samples and Evaluation Kits to potential customers and ongoing PoCs.
The group operating loss was NOK 31.5 million for the quarter, compared with an
operating loss of NOK 12.5 million in the third quarter of 2017. The operating
loss was influenced by a VAT claim of NOK 15.8 million and IPO expenses of NOK
3.9 million, as well as by a lower level of capitalised development expenses in
2018.
poLight continues to experience increased interest for its TLens technology from
several industries, including the mobile phone sector, barcode segment, AR and
for new applications such as machine vision. As of end September 2018, poLight
had delivered 3,500 units of TLens compared to 1,700 for the whole of 2017. The
increased market activity and interest for TLens products support increased
confidence in commercialisation of poLight's technology.
"It has been a very exciting third quarter with the successful IPO and
subsequent listing on the Oslo Stock Exchange representing a major milestone. We
continue to take important steps towards commercialisation of our unique TLens
technology that captures astonishing images with instant focus. This is
reflected in progress on ongoing customer projects and increased interest from a
wide range of sectors relying on high-quality cameras with autofocus and a small
footprint," said Øyvind Isaksen, the CEO of poLight.
Q3 report and presentation
Please find the report and presentation for Q3 2018 enclosed.
Presentation and webcast
CEO Øyvind Isaksen and CFO Alf Henning Bekkevik will present the company's
results today at 08:30 am CET at Felix Conference Center, Bryggetorget 3, Aker
Brygge, in Oslo, Norway.
The presentation and supporting material will be given in English. The
presentation can also be followed through live webcast.
Please join the Q3 2018 results webcast by clicking here:
http://webtv.hegnar.no/presentation.php?webcastId=97454894
A recorded version of the webcast will be made available on www.polight.com
shortly after the broadcast has been concluded.
Further information from:
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 has developed a new autofocus lens which "replicates" the human eye for
use in mobile devices and other applications with integrated cameras. poLight's
TLens® is ready for introduction in the smartphone camera module market,
offering considerable benefits such as extremely fast focus, compact xy
-dimension (i.e. small footprint), no magnetic interference, low power
consumption and constant field of view. poLight is based in Horten, Norway, with
offices in Finland, France and China and representation in Taiwan and Korea. For
more information, please visit https://www.polight.com