Polight ASA

Earnings Release • Feb 18, 2025

poLight ASA - Q4 shows low revenue but a promising long-term outlook

poLight ASA - Q4 shows low revenue but a promising long-term outlook

KEY EVENTS in the quarter

· 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).

· Purchase order - worth NOK 344,000, related to the release of the barcode

products announced 8 October, received 24 October.

Post Q4:

· Purchase order worth NOK 729,000 to supply TWedge wobulator evaluation kits

to a top tier consumer OEM customer for an AR application (13 February).

· Participated at CES 2025 in Las Vegas January 7-10 and SPIE AR|VR|MR 2025 in

San Francisco from January 28-29

Tønsberg, 18 February 2025 - poLight ASA (OSE: PLT) today announced its results

for Q4 2024.

"Another quarter with low revenue but continuing high market activity. Promising

customer interactions are underway in all our prioritised market segments. In

particular, our customer engagements in the AR/MR market segment continue to

develop positively, despite some cases being delayed or cancelled due to a lack

of market maturity or changes in our customers' strategies. In the fourth

quarter, considerable efforts were devoted to developing camera reference

designs in dialogue with important players in the ecosystem. This comprises

various camera solutions for AR/MR, smartphones, laptops, webcams and

barcode/machine vision systems. This activity is important to be able to present

solutions to the market and make it easier for our customers to adapt TLens®

-based solutions." explains Dr Øyvind Isaksen, CEO of poLight.

EBITDA totalled NOK -29.3 million in Q4 2024, compared with NOK -26.3 million in

Q4 2023.

As at 31 December 2024, poLight had cash and cash equivalents totalling NOK

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

Q4 report and presentation

Please find the report and presentation for Q4 2024 enclosed.

poLight Q4 2024

report.pdf (https://mb.cision.com/Public/14821/4106864/a02b1246e3d30b22.pdf)

poLight Q4 2024

presentation.pdf (https://mb.cision.com/Public/14821/4106864/8e6106ca07ba6d39.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 Q4 2024 results presentation through a live

webcast by clicking here:

poLight Webcast Q4

2024 (https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20250218_2)

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, please contact:

Dr Øyvind Isaksen, CEO, poLight ASA: +47 90 87 63 98

Joakim Hines Bredahl, CFO, poLight ASA: +47 97 52 17 31

About poLight ASA

poLight ASA (OSE: PLT) offers patented, state-of-the-art tunable optics

technology, leveraging its proprietary polymer and piezo MEMS technology.

Founded in 2005, its first product TLens® replicates "the human eye" experience

in autofocus cameras used in applications such as AR/MR devices, smartphones,

wearables, webcams and other consumer devices, industrial barcode scanners and

machine vision systems, and healthcare applications. With over 160 granted

patents, poLight's technology delivers extremely fast focus, small

footprint, ultra-low power consumption, no magnetic interference, and constant

field of view, enabling better imaging system performance and new user

experiences compared to alternative technologies.  poLight is based in Tønsberg,

Norway, with employees in Finland, France, UK, US, China, Taiwan, the

Philippines and Japan. For more information, please visit

https://www.polight.com.