poLight ASA - continues to build positive momentum in several segments

31 Oct 2024 07:00 CET

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.pd
f
)

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.

More information:
Access the news on Oslo Bors NewsWeb site

630819_poLight_Q3_2024_presentation.pdf
630819_poLight_Q3_2024_report.pdf