poLight ASA – continues to improve its position in the AR/MR market
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 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 Q2 2024 results presentation through a live webcast by clicking here:
https://channel.royalcast.com/landingpage/hegnarmedia/20240815_8/
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.