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poLight ASA – continues to build position in the augmented/mixed reality space

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KEY EVENTS in the quarter

  • Follow-on mass production order, worth NOK 0.35 million, from an augmented reality (AR) customer (received 22 November)
  • New design-win and initial mass production purchase order, worth NOK 0.4 million, for a high-end mixed reality head-mounted device (confirmed 27 November)
  • Purchase order, worth NOK 2.5 million, relating to a Mini2p application (received 7 December)
  • Follow-on purchase order, worth NOK 2.9 million, for an augmented reality (AR) case (received 19 December)

Horten, 27 February 2024 - poLight ASA (OSE: PLT) today announced its results for Q4 2023.

“The activity in the fourth quarter picked up nicely and several important milestones were achieved. AR/MR-related activity, in particular, remains strong. During the quarter, two follow-on orders were announced, as well as one new design-win for a high-end mixed reality head-mounted device.

We are continuing to strengthen our organisation to enable us to better explore the opportunities ahead, handle challenges more effectively and evolve our offering,” explains Dr Øyvind Isaksen, CEO of poLight.

EBITDA totalled NOK -26.3 million in Q4 2023, compared with NOK -15.0 million in Q4 2022.

As at 31 December 2023, poLight had cash and cash equivalents totalling NOK 114.8 million, compared with NOK 84.2 million as at 31 December 2022.

Q4 report and presentation

Please find the report and presentation for Q4 2023 enclosed.

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 Q4 2023 results presentation through a live webcast by clicking here:

https://channel.royalcast.com/landingpage/hegnarmedia/20240227_4/

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 ASA (OSE: PLT) offers a patented, proprietary tunable optics technology, starting with its first product, TLens® which replicates “the human eye” experience in autofocus cameras used in devices such as smartphones, wearables, barcode scanners, 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 the Philippines. For more information, please visit https://www.polight.com

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