poLight ASA – Good progress continues, and important milestones have been achieved
* TLens included in a barcode scan engine product released to market
* Signed MoU and received purchase order to make a prototype of a new version of TLens for smartphone applications
* Generally good progress on customer cases
* End-user sales of smartwatches still lower than normal
* VAT registered from July 2020
Horten, 23 October 2020 - poLight ASA (OSE: PLT) today announced its results for third quarter of 2020.
During the quarter, the company has established its first commercial reference in the barcode market, established a customer project in the smartphone segment and achieved significant progress in several ongoing proof-of-concepts projects.
EBITDA in the third quarter was NOK -2.7 million, compared with EBITDA of NOK -11.7 million in the third quarter of 2019. VAT receivables of NOK 8.2 million were recognised in the quarter.
Cash at 30 September 2020 came to NOK 79.4 million.
“poLight has clearly strengthened its position during the third quarter. We are on our way to establishing poLight in both a professional and consumer-related markets, which will give us the diversity we need to build a strong and future-proof business. We are well positioned for many new trends and have a technology platform which can be incorporated into innovative new solutions. Progress continues, and we have established a team capable of moving things in the right direction”, said Øyvind Isaksen, the CEO of poLight.
Q3 report and presentation
Please find the report and presentation for Q3 2020 enclosed.
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 2020 results webcast by clicking here:
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 readers, machine vision systems and various types of 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, France and China and representation in Taiwan and Korea. For more information, please visit https://www.polight.com