poLight ASA – continues to build confidence in future positive development
KEY EVENTS in the quarter
- Action Prowave Technology confirmed release of two new barcode scanner products using TLens®.
- PhenoSys released Turnkey Mini2P Systems with poLight ASA Tunable Optics.
- Thorlabs released an Optical Cage System Product with Integrated TLens® at SPIE Photonics West 2024.
- poLight showcased Tunable Optics Technology at SPIE Photonics West 2024.
- At an Extraordinary General Meeting on 15 January 2024, Marianne Bøe (Head of Investor Relations at IDEX Biometrics) and Jean-Christophe Eloy (CEO and President of Yole) were elected as new board members, while Ann-Tove Kongsnes (Investinor) stepped down.
Post Q1:
- 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, SEBI RT1000, using TLens®.
- Rights Issue resulted in approximately NOK 124 million in net proceeds to the Company.
Horten, 4 June 2024 - poLight ASA (OSE: PLT) today announced its results for Q1 2024.
“We have achieved several important milestones in the quarter, building confidence in future positive development. poLight is becoming increasingly well-known and respected for our achievements to date. We have established key references in all defined strategic market segments. Further initiatives to strengthen our portfolio have been initiated.
We strongly believe we are on our way to ‘Shaping the Tunable Optics Future!’. Join us on 5 June for our Capital Market Day to see for yourself!” explains Dr Øyvind Isaksen, CEO of poLight.
EBITDA totalled NOK -18.8 million in Q1 2024, compared with NOK -14.0 million in Q1 2023.
As at 31 March 2024, poLight had cash and cash equivalents totalling NOK 95.3 million (pre share issue in 2024), compared with NOK 114.8 million as at 31 December 2023.
Q1 report and presentation
Please find the report and presentation for Q1 2024 enclosed.
poLight Q1 2024 presentation.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 Q1 2024 results presentation through a live webcast by clicking here:
https://channel.royalcast.com/landingpage/hegnarmedia/20240604_1/
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, and the Philippines. For more information, please visit https://www.polight.com.