poLight ASA - continues to build positive momentum in several segments
KEY EVENTS in the quarter
- A new purchase order worth NOK 950,000, related to the very first barcode design-win back in 2000, was received on 7 August.
- The AR/MR market continued to open business opportunities, although the market and ecosystem will take time to mature.
- The machine vision and barcode pipeline continued to show progress.
- A patent infringement claim and lawsuit was filed against two customers that use the TLens®. poLight’s position is that there is no patent infringement.
Post Q3:
- Wooptix announced the commercial launch of its SEBI RT1000 Development Kits using TLens® (2 October).
- Transcend Vivoscope announced it is to offer turnkey miniature two-photon imaging systems equipped with poLight tunable optics (5 October).
- Thorlabs announced that its Mini2P Imaging System will leverage poLight ASA’s TLens® for optimal neurological imaging (7 October).
- Three commercial companies with Mini2p solutions showcased their products at the SfN Neuroscience '24 conference.
- poLight ASA confirmed the use of poLight TLens® in two new handheld barcode products (8 October).
- New purchase order, worth NOK 344,000, received 24 October related to the release of two new barcode products announced 8 October.
Horten, 31 October 2024 - poLight ASA (OSE: PLT) today announced its results for Q3 2024.
“From a revenue perspective, we had a slow quarter but kept busy exploring several important market opportunities, executing key technology projects, improving manufacturing processes and strengthening the organisation. We continue to focus on consumer, AR/MR and industrial applications, while our exposure to the healthcare research segment is increasing thanks to various Mini2P solutions currently being released to the market. On the consumer side, the main activity relates to AR/MR cases, laptop applications and preparing our offering to better fit future smartphone applications. In general, the AR/MR segment, both for enterprise and consumer uses, is likely to open many opportunities for our technology platform." explains Dr Øyvind Isaksen, CEO of poLight.
EBITDA totalled NOK -25.2 million in Q3 2024, compared with NOK -20.5 million in Q3 2023.
As at 30 September 2024, poLight had cash and cash equivalents totalling NOK 180.1 million, compared with NOK 114.8 million as at 31 December 2023.
Q3 report and presentation
Please find the report and presentation for Q3 2024 enclosed.
poLight Q3 2024 presentation.pdf
Presentation and webcast
CEO Dr Øyvind Isaksen and CFO Joakim Hines Bredahl 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 Q3 2024 results presentation through a live webcast by clicking here:
https://channel.royalcast.com/landingpage/hegnarmedia/20241031_5/
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.