Polight ASA

Earnings Release • Apr 30, 2025

poLight ASA - reports high market activity in Q1 and promising outlook

poLight ASA - reports high market activity in Q1 and promising outlook

KEY EVENTS in the quarter

· Existing machine vision/barcode customer launched 5 new products and placed

a purchase order worth approximately NOK 1,000,000 (announced 24 March).

· TWedge® purchase orders from consumer OEMs, worth approximately NOK

1,300,000, were received during the quarter. The largest was announced 13

February.

· Transcend Vivoscope placed an NRE purchase order, worth EUR 32,000, in

connection with a revision of the Mini2p solution.

· AR/MR activities continued to develop positively.

· A project to develop lead-free TLens® was launched. Samples will be

available by end of 2025.

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

in San Francisco, 28-29 January.

Post Q1:

· poLight ASA - Enters Into Strategic Investment Agreement with Q Technology

Group Backed by U.S. Top Tier Consumer Electronics OEM.

Tønsberg, 30 April 2025 - poLight ASA (OSE: PLT) today announced its results for

Q1 2025.

"Revenue in the first quarter of 2025 was up on both the previous quarter and

the same quarter last year. We maintained a high level of market activity,

engaging in multiple customer projects and participating at CES 2025 and SPIE

AR/MR. Both the AR/MR and Industrial market segments have shown positive

development. Strategically, the AR/MR market is one of the most important, as

this emerging market will have many use cases where our TLens® and TWedge®

technology platforms could solve various pain points for smart-glasses, MR

headsets and future advanced AR glasses. We have a lot of opportunities ahead of

us, and the recently announced Investment Agreement with Q Tech will be an

important enabler to secure future success in all market segments." explains Dr

Øyvind Isaksen, CEO of poLight.

EBITDA totalled NOK -25.2 million in Q1 2025, compared with NOK -18.8 million in

Q1 2024.

As at 31 March 2025, poLight had cash and cash equivalents totalling NOK 135.8

million, compared with NOK 95.3 million as at 31 March 2024.

Q1 report and presentation

Please find the report and presentation for Q1 2025 enclosed.

poLight Q1 2025

report.pdf (https://mb.cision.com/Public/14821/4142446/9f88dbf254ca5ebe.pdf)

poLight Q1 2025

presentation.pdf (https://mb.cision.com/Public/14821/4142446/b31b8ffca995ae8e.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 Q1 2025 results presentation through a live

webcast by clicking here:

poLight Webcast Q1

2025 (https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20250430_3)

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.