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Design-win for barcode manufacturing line applications
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poLight won the VAT appeal case (NOK 12 million cash effect in January 2022)
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Subsequent Share Issue raised gross proceeds of approximately NOK 12.8
million
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Opportunity pipeline strengthened
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Follow-up order related to the scan engine EX30 received in January 2022
Horten, 18 February 2022 - poLight ASA (OSE: PLT) today announced its results
for Q4 2021.
poLight made good progress during the quarter, with generally positive progress
in most customer cases resulting in the first design-win within AR segment,
another design-win related to barcode scanning and strengthened opportunity
pipeline. Further poLight won the VAT appeal case and raised NOK 12.8 million in
gross proceeds in a Subsequent Share Issue during the quarter.
EBITDA totalled NOK -5.7 million in Q4 2021, compared with NOK -10.0 million in
Q4 2020.
As at 31 December 2021 poLight had cash of NOK 157.8 million, compared with NOK
77.2 million as at 31 December 2020.
"The design-win related to the augmented reality (AR) product is of strategic
importance for the company. The activity and opportunity pipeline we see in this
market segment is impressive. The technical attributes of TLens, its speed,
compactness, low power consumption and no gravity sensitivity, are viewed as key
for AR applications.
Smartphone-related activity remains high. Together with our customers, we are
expending a lot of effort and resources to mature cases and qualify TLens for
commercial use. We have made encouraging progress during the quarter, even
though there are hurdles still to be overcome. We are strengthening our
organisation in order to handle the predicted increase in activity.", said
Øyvind Isaksen, the CEO of poLight.
Q4 report and presentation
Please find the report and presentation for Q4 2021 enclosed.
poLight Q4 2021
report.pdf (https://mb.cision.com/Public/14821/3509501/904ecb4a7068dba4.pdf)
poLight Q4 2021
presentation.pdf (https://mb.cision.com/Public/14821/3509501/b932c62e58a29a04.pdf
)
Presentation and webcast
CEO Øyvind Isaksen and CFO Alf Henning Bekkevik will present the company’s
results today at 09:00 CET through live webcast. Please join the Q4 2021 results
webcast by clicking here:
poLight ASA Webcast Q4 2021
(royalcast.com) (https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/2022021
8_1)
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:
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 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, Russia, Korea and Japan. For more
information, please visit https://www.polight.com
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