KEY EVENTS in the Quarter
* Another busy quarter for poLight.
* Teledyne e2v launched "2MP Multi-Focus MIPI Module".
* High level of smartphone-related activities led to a design-win
and first mass production purchase order after the close of Q4.
* AR cases continued to mature. Magic Leap 2[1], Vuzix, Xvisio and
LLVision all use TLens® for their latest AR enterprise glasses.
* Magic Leap 2 launch date was end of September 2022, and poLight
have received purchase orders worth approximately NOK 2.1 million at the end of
February 2023.
* Vuzix AR glasses are available for developers, with the main
release expected in mid-2023.
* XVisio and LLVision AR glasses is expected to be launched around
mid 2023.
* Sharp demonstrated a new camera module using TLens®, as well as a
use case in a VR headset, at CES in Las Vegas.
Horten, 28 February 2023 - poLight ASA (OSE: PLT) today announced its results
for Q4 2022.
"Once again, we had a busy quarter supporting an increasing number of customer
cases and, not least, preparing for a smartphone project. We have been working
hard over many years to qualify for our first smartphone project. Although we
have been close to a market breakthrough several times, last-minute changes in
our customers product release strategy have delayed our entrance into the
smartphone market. This can obviously still happen, but a firm purchase order
and the fact that we already have started shipping material for mass production
use must be seen as strong positive signal.
A poLight team was present at CES 2023 in Las Vegas, where we met several
existing and potential new customers in several market segments. During our
stay, we were able to see and experience products using our unique product, such
as Magic Leap, Vuzix and XVisio´s latest AR glasses, as well as Sharp´s new
camera module. So, overall, we have experienced some hectic weeks and months,
with a lot of encouraging progress", said Dr. Øyvind Isaksen, the CEO of poLight
".
EBITDA totalled NOK -15.0 million in Q4 2022, compared with NOK -5.7 million in
Q4 2021. The most significant contributor for the decline in EBITDA is due to
NOK 12 million recognised as a cost reduction as a result of the positive
outcome of the VAT appeal in Q4-21.
As at 31 December 2022 poLight had cash of NOK 84.2 million, compared with NOK
157.8 million as at 31 December 2021.
Q4 report and presentation
Please find the report and presentation for Q4 2022 enclosed.
poLight Q4 2022
report.pdf (https://mb.cision.com/Public/14821/3724342/a759ac593502865b.pdf)
poLight Q4 2022
presentation.pdf (https://mb.cision.com/Public/14821/3724342/9988119081feb539.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 Q4
2022 results webcast by clicking here:
https://channel.royalcast.com/landingpage/hegnarmedia/20230228_3/ (https://eur01.
safelinks.protection.outlook.com/?url=https%3A%2F%2Fchannel.royalcast.com%2Flandi
ngpage%2Fhegnarmedia%2F20230228_3%2F&data=05%7C01%7Calf.henning.bekkevik%40poligh
t.com%7Cff8f5c21a7ed42750b5a08db0f4a11f2%7Ccac0b87cc9e2402f9f9e3224b4036842%7C0%7
C0%7C638120583030860707%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luM
zIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=rzoSZQlzvnsl6Fro%2FWH79ox
asz7z8ZcbjdPetzMXmvo%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, Taiwan and Philippines. For more information, please visit
https://www.polight.com
1/ https://www.yolegroup.com/technology-insights/the-polight-tlens-piezoelectric
-mems-autofocus-module-is-in-the-magic-leap-2/