KEY EVENTS in the quarter
· Design-win with Vuzix Shield industrial AR smart glasses.
· Purchase order received for TWedge® wobulator evaluation kits and samples
from major consumer AR/MR original equipment manufacturers (OEM) customers.
· Wooptix announced a wavefront phase camera, the SEBI RT1000, using TLens®.
· New purchase order received worth NOK 600,000 supporting the barcode
scanning market.
· Rights issue resulted in approximately NOK 124 million in net proceeds to
the company.
· Employed new CFO, Rolf Joakim Hines Bredahl.
· Successfully held Capital Market Day on 5 June.
· Amendments to share option plan - replacement of existing agreements with a
new agreement with strike at NOK 3.2 per share (with reset of vesting).
Post Q2:
· New purchase order worth NOK 950,000 received August 7th related to the
first barcode design-win (back in 2000).
Horten, 15 August 2024 - poLight ASA (OSE: PLT) today announced its results for
Q2 2024.
"Revenue picked up during the quarter compared to the first quarter of the year.
From a market perspective, ongoing trends were clearly confirmed; the company
continues to improve its position in the AR/MR market and activity gradually
increased in the industrial/barcode market. News flow during the quarter
confirms this development. The smartphone/consumer market remains challenging,
but measures are actively being taken in order for us to be better prepared for
this market segment.
Important progress has been achieved on the development side, to secure an
improved offering relevant for all market segments in both the short and long
term. " explains Dr Øyvind Isaksen, CEO of poLight.
EBITDA totalled NOK -21.7 million in Q2 2024, compared with NOK -18.0 million in
Q2 2023.
As at 30 June 2024, poLight had cash and cash equivalents totalling NOK 199.3
million, compared with NOK 114.8 million as at 31 December 2023.
Q2 report and presentation
Please find the report and presentation for Q2 2024 enclosed.
poLight Q2 2024
report.pdf (https://mb.cision.com/Public/14821/4024428/9a5f5ebf3c1ce168.pdf)
poLight Q2 2024
presentation.pdf (https://mb.cision.com/Public/14821/4024428/92388f1b36020e61.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 Hotel Continental, Stortingsgaten 24/26, in Oslo,
Norway. You can also watch the Q2 2024 results presentation through a live
webcast by clicking here:
https://channel.royalcast.com/landingpage/hegnarmedia/20240815_8/ (https://eur01.
safelinks.protection.outlook.com/?url=https%3A%2F%2Fchannel.royalcast.com%2Flandi
ngpage%2Fhegnarmedia%2F20240815_8%2F&data=05%7C02%7Calf.henning.bekkevik%40poligh
t.com%7C85c820eaf653495055dc08dc86ef4031%7Ccac0b87cc9e2402f9f9e3224b4036842%7C0%7
C0%7C638533609876943758%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luM
zIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=vnnyjgqNvzjTwxMGwSkRhKLv14lw
T7zf6lTla16jPIY%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, please contact:
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 ASA (OSE: PLT) offers patented, state-of-the-art tunable optics
technology, leveraging its proprietary polymer and piezo MEMS technology.
Founded in 2005, its first product TLens® replicates "the human eye" experience
in autofocus cameras used in applications such as AR/MR devices, smartphones,
wearables, webcams and other consumer devices, industrial barcode scanners and
machine vision systems, and healthcare applications. With over 160 granted
patents, poLight's technology delivers extremely fast focus, small
footprint, ultra-low power consumption, no magnetic interference, and constant
field of view, enabling better imaging system performance and new user
experiences compared to alternative technologies. poLight is based in Horten,
Norway, with employees in Finland, France, UK, US, China, Taiwan, the
Philippines and Japan. For more information, please visit
https://www.polight.com.