poLight ASA – continuing progress with several customers and successful share issue enabling future growth in various markets
KEY EVENTS in the Quarter
* Follow-up purchase order for barcode scan engine product, worth approximately NOK 1,450,000 (mentioned in Q2-report)
* Two purchase orders received related to a surgical device, worth a combined total of NOK 4,000,000
* Private placement successfully raised net NOK 130,300,000 (including sub-sequent offering of net NOK 11,800,000 raised in October-21)
* Good progress in most customer cases
Horten, 29 October 2021 - poLight ASA (OSE: PLT) today announced its results for Q3 2021.
During the quarter, poLight successfully raised NOK 118.5 million in net proceeds in a private placement and have made good progress in several market segments, including smartphone.
EBITDA totalled NOK -2.9 million in Q3 2021, compared with NOK -2.7 million in Q3 2020.
As at 30 June 2021 poLight had cash of NOK 164.1 million, compared with NOK 79.4 million as at 30 September 2020.
“Another quarter with high activity with respect to support for customer-related projects and preparation of the supply chain. Although there are many challenges to overcome, it is impressive and very encouraging to experience the interest in our products. Our strategy of positioning ourselves for the consumer markets of today and tomorrow, as well as entering new industrial/professional market segments, is gradually producing tangible results. We are making good progress in smartphone customer cases through various Proof of Concept (PoC) projects. Augmented Reality (AR) customer cases are maturing, and we are engaged in projects for which we are planned used in customers next generation smart glasses (i.e. design-in´s) and PoCs for technology qualification. Existing and new cases in the industrial/barcode segment are slowly maturing, and we are starting to see traction in the medical field. In the quarter a private placement was successfully placed enabling us to further position the company in the different market segments. Thanks to all our shareholders for supporting us, and – not least – a big thanks to the poLight team for doing everything possible to develop a world-class tuneable optics company.”, said Øyvind Isaksen, the CEO of poLight.
Q3 report and presentation
Please find the report and presentation for Q3 2021 enclosed.
poLight Q3 2021 presentation.pdf
Presentation and webcast
CEO Øyvind Isaksen and CFO Alf Henning Bekkevik will present the company’s results today at 08:30 CET through live webcast. Please join the Q3 2021 results webcast by clicking here: poLight ASA Webcast Q3 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