poLight ASA – Progress made with smartphone, wearable and barcode customers in Q1

KEY EVENTS

* Involved in three projects which may lead to design-win in 2019 related to smartphone, wearable and barcode

* Camera module vendor has placed sizeable TLens and ASIC driver batch orders for Engineering Verification Tests (EVT) on behalf of a smartphone vendor

* Continued growth in businesses evaluating TLens for various use-cases

Horten, 10 May 2019 - poLight ASA (OSE: PLT) today announced its results for the first quarter of 2019. poLight’s TLens technology is subject to increased attention from a wide range of industries representing multiple applications. In April 2019, poLight received and shipped its biggest order to date for 2 400 units of TLens and 4 900 PDA50 drivers. An additional order for a similar volume of TLens and drivers was received in early May from the same camera module maker.

The high market activity and interest for TLens products support increased confidence in commercialisation of poLight’s technology. An increasing number of businesses evaluates TLens for various use-cases and represent a significant long-term growth potential for the company.

First-quarter EBITDA was NOK -14.3 million, compared with EBITDA of NOK -14.6 million in the first quarter of 2018, reflecting lower development costs partly offset by increased sales-, supply chain- and administrative expenses.

“We register a steady inbound interest from businesses representing a wide range of use-cases for our TLens technology and we continue to position for a breakthrough in the smartphone market, initially for front-facing auto focus (AF) and long-term for other applications. The Chinese OEMs’ current big-screen focus creates challenges for AF in front, but that focus may change over time and there are other smartphone vendors that think differently. Step-by-step progress in customer validation of our technology and the diversification of companies and markets evaluating TLens increase our confidence that we are moving towards commercial proof-of-concept and our first design-win,” said Øyvind Isaksen, the CEO of poLight.

Q1 report and presentation

Please find the report and presentation for Q1 2019 enclosed.

poLight Q1 2019 report

poLight Q1 2019 presentation

Presentation and webcast

CEO Øyvind Isaksen and CFO Alf Henning Bekkevik will present the company’s results today at 08:30 am CET at Felix Conference Center, Bryggetorget 3, Aker Brygge, in Oslo, Norway.

The presentation and supporting material will be given in English. The presentation can also be followed through live webcast.

Please join the Q1 2019 results webcast by clicking here:
https://webtv.hegnar.no/presentation.php?webcastId=97815745

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 has developed a new autofocus lens which "replicates" the human eye for use in mobile devices and other applications with integrated cameras. poLight's TLens® is ready for introduction in the smartphone camera module market, offering considerable benefits such as extremely fast focus, compact xy-dimension (i.e. 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