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 (https://mb.cision.com/Public/14821/3615671/be5bffd15ad95ed1.pdf)
poLight Q2 2022
presentation.pdf (https://mb.cision.com/Public/14821/3615671/aad5b58225c567a6.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 (https://eur01.safel
inks.protection.outlook.com/?url=https%3A%2F%2Fchannel.royalcast.com%2Fwebcast%2F
hegnarmedia%2F20220818_7&data=05%7C01%7Calf.henning.bekkevik%40polight.com%7C24b1
7a05862e455a8e9508da747c01df%7Ccac0b87cc9e2402f9f9e3224b4036842%7C0%7C0%7C6379503
73194277622%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6I
k1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=isYgp6aDnHp19FoCwvpZbpb3NMxD%2FpuEaoV
ko60zzas%3D&reserved=0)
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