Polight ASA — Earnings Release 2024

Oct 31, 2024

poLight ASA - continues to build positive momentum in several segments

poLight ASA - continues to build positive momentum in several segments

KEY EVENTS in the quarter

· A new purchase order worth NOK 950,000, related to the very first barcode

design-win back in 2000, was received on 7 August.

· The AR/MR market continued to open business opportunities, although the

market and ecosystem will take time to mature.

· The machine vision and barcode pipeline continued to show progress.

· A patent infringement claim and lawsuit was filed against two customers that

use the TLens®. poLight's position is that there is no patent infringement.

Post Q3:

· Wooptix announced the commercial launch of its SEBI RT1000 Development Kits

using TLens® (2 October).

· Transcend Vivoscope announced it is to offer turnkey miniature two-photon

imaging systems equipped with poLight tunable optics (5 October).

· Thorlabs announced that its Mini2P Imaging System will leverage poLight

ASA's TLens® for optimal neurological imaging (7 October).

· Three commercial companies with Mini2p solutions showcased their products at

the SfN Neuroscience '24 conference.

· poLight ASA confirmed the use of poLight TLens® in two new handheld barcode

products (8 October).

· New purchase order, worth NOK 344,000, received 24 October related to the

release of two new barcode  products announced 8 October.

Horten, 31 October 2024 - poLight ASA (OSE: PLT) today announced its results for

Q3 2024.

"From a revenue perspective, we had a slow quarter but kept busy exploring

several important market opportunities, executing key technology projects,

improving manufacturing processes and strengthening the organisation.  We

continue to focus on consumer, AR/MR and industrial applications, while our

exposure to the healthcare research segment is increasing thanks to various

Mini2P solutions currently being released to the market. On the consumer side,

the main activity relates to AR/MR cases, laptop applications and preparing our

offering to better fit future smartphone applications. In general, the AR/MR

segment, both for enterprise and consumer uses, is likely to open many

opportunities for our technology platform." explains Dr Øyvind Isaksen, CEO of

poLight.

EBITDA totalled NOK -25.2 million in Q3 2024, compared with NOK -20.5 million in

Q3 2023.

As at 30 September 2024, poLight had cash and cash equivalents totalling NOK

180.1 million, compared with NOK 114.8 million as at 31 December 2023.

Q3 report and presentation

Please find the report and presentation for Q3 2024 enclosed.

poLight Q3 2024

report.pdf (https://mb.cision.com/Public/14821/4058849/b63d6f12a8663b1d.pdf)

poLight Q3 2024

presentation.pdf (https://mb.cision.com/Public/14821/4058849/b5b99350553c764e.pdf

)

Presentation and webcast

CEO Dr Øyvind Isaksen and CFO Joakim Hines Bredahl will present the company's

results today at 09:00 CET at Hotel Continental, Stortingsgaten 24/26, in Oslo,

Norway. You can also watch the Q3 2024 results presentation through a live

webcast by clicking here:

https://channel.royalcast.com/landingpage/hegnarmedia/20241031_5/

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.