poLight ASA – A quarter with two new market breakthroughs
KEY EVENTS in the Quarter
* First design win for a web camera application
* First design-win for a machine vision product
* Good progress in most customer cases
* As already announced – the smartphone project mentioned in Q1 report was cancelled due to portfolio changes – the same OEM is still interested in TLens and other OEMs have started evaluation (post Q2)
* Barcode follow-up purchase order for TLens worth approximately NOK 1,450,000 (post Q2)
Horten, 20 August 2021 - poLight ASA (OSE: PLT) today announced its results for Q2 2021.
During the quarter, poLight’s unique tunable TLens achieved design-win in a web camera and in a machine vision application, both representing new market segments.
EBITDA totalled NOK -13.7 million in Q2 2021, compared with NOK -10.4 million in Q2 2020.
As at 30 June 2021 poLight had cash of NOK 55.6 million, compared with NOK 89.9 million as at 30 June 2020.
“There is no doubt that the already announced cancellation of the smartphone project, in which TLens was planned to be used, negatively impacted the company and its shareholders. The reason for the cancellation is portfolio prioritization and nothing to do with TLens. Despite this setback, which will delay poLight´s entrance into the smartphone market, the market continues to show significant interest in TLens and we are currently maturing a promising pipeline of smartphone opportunities – both with the OEM that cancelled the project and other OEMs. We also gained two new design wins in other application areas during the quarter – machine vision and web camera. Step by step we are building a platform of reference cases which will future-proof the company. The recently announced repeat order in the barcode segment is encouraging and important. There are many reasons to be positive about the future.”, said Øyvind Isaksen, the CEO of poLight.
Q2 report and presentation
Please find the report and presentation for Q2 2021 enclosed.
poLight Q2 2021 presentation.pdf
Presentation and webcastCEO Øyvind Isaksen and CFO Alf Henning Bekkevik will present the company’s results today at 08:30 CET through live webcast. Please join the Q2 2021 results webcast by clicking here:
poLight ASA Webcast Q2 2021 (royalcast.com)
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:
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 offices in Finland and China and representation in France, UK, US, Taiwan, Korea and Japan. For more information, please visit https://www.polight.com