poLight ASA – Record shipments of TLens and drivers to support customer projects in Q2

KEY EVENTS

* All-time-high deliveries of TLens and ASIC drivers in the second quarter of 2019

* TLens and drivers shipped to support potential customer projects at various stages of maturity

* Progress made on three projects which may lead to design-win in late 2019 or first half 2020 related to smartphone, wearable and barcode

* First TLens purchase order received for Product Verification Testing (PVT) for a wearable device

Horten, 16 August 2019 - poLight ASA (OSE: PLT) today announced its results for the second quarter of 2019. poLight’s TLens technology is subject to attention from a wide range of industries representing multiple applications.

In the second quarter the company delivered a total of 6 515 TLens units and 12 650 PDA50 drivers to support testing by potential customers. These shipments reflect continued progress along the path to a potential design win. Combined with high market activity and interest for TLens products, these deliveries support increased confidence in commercialisation of poLight’s technology. An increasing number of businesses evaluate TLens for various use-cases and offer a more diversified future revenue base and reduced risk of poLight being exposed to one single market.

Second-quarter EBITDA was NOK -13.3 million, compared with EBITDA of NOK -14.9 million in the second quarter of 2018.

“We are very pleased to see continued inbound interest for our TLens technology, representing a widening range of applications for both mass-market consumer products and high-end industrial solutions. Going forward, we will continue to market more actively towards these segments as they represent an attractive diversification of our customer base along-side the position we are building in the smartphone segment. Design-win candidates are maturing and support increased confidence in commercialisation of our TLens technology,” said Øyvind Isaksen, the CEO of poLight.

On 15 August, poLight received a purchase order for 33,320 units of TLens Silver and 30,000 ASIC drivers related to a specific wearable project. The units will be used for Product Verification Test (PVT) and potential initial mass production (MP) related to a planned product release.

Q2 report and presentation

Please find the report and presentation for Q2 2019 enclosed.

poLight Q2 2019 report

poLight Q2 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 Q2 2019 results webcast by clicking here: https://webtv.hegnar.no/presentation.php?webcastId=98041640

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 offer 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, France and China and representation in Taiwan and Korea. For more information, please visit https://www.polight.com