Slide 1: Fourth quarter 2022 Earnings presentation
Fourth quarter 2022 Earnings presentation 28 February 2023 1 Fourth quarter 2022 - Earnings presentation
Slide 2: Disclaimer
Disclaimer This presentation (the "Presentation") has been nor does any of them accept any responsibility for No shares or other securities are being offered produced by poLight ASA (the "Company") the future accuracy of the opinions expressed in pursuant to this Presentation. This Presentation excl
Slide 3: Today's agenda
Today’s agenda Presenting • Key events Dr. Øyvind Isaksen • Introduction to poLight Chief Executive Officer Dr. Isaksen has been CEO of poLight since August 2014. He has • Operations and markets review previously held several CEO positions, most recently in the publicly listed company Q-Free ASA, wh
Slide 4: Key events in the quarter
Key events in the quarter • Another busy quarter for poLight • Teledyne e2v launched “2MP Multi-Focus MIPI Module” • High level of smartphone-related activity led to a design-win and first mass production purchase order after the close of Q4 • AR cases continued to mature. Magic Leap 21, Vuzix, Xvis
Slide 5: poLight at a glance
poLight® at a glance Background & description Geographical footprint • Global player in tunable optics with applications in Horten Norway Tampere mobile, web cam, industrial, augmented reality, Oxford Finland medical and others UK Beijing San Jose, CA Lyon France China USA • Founded in 2005 and has
Slide 6: poLight products & technology well-suited for several applications
poLight products & technology well-suited for several applications Smartphones, wearables, Barcode/Industrial Augmented Reality (AR) Other accessories • Evolving from 1D laser to 2D • AR is expected to to grow • New opportunities are • Smartphone represent a large imaging barcode readers significant
Slide 7: TLens customer-wins
TLens® customer-wins Smartphone MV-ID2016M-16T Enterprise AR Smart Code Reader Selfie Camera World-facing Camera X30M-E Machine Vision: Direct Park Mark Reader Unnamed Mi Bunny 4 Pro Customer Smartwatch EX 30 Max Pro UC W20 2D Barcode Barcode reader Smartwatch Scan Engine – assembly line HD Webcam 2
Slide 8: Operations and market review
Operations and market review 8 Fourth quarter 2022 - Earnings presentation
Slide 9: Consumer/smartphone: Add-in TLens design opens opportunities
Consumer/smartphone: Add-in TLens® design opens opportunities • Add-in TLens® design is attracting good interest • Several reference designs have been developed to position TLens® for various use cases • During the quarter, the focus has been on smartphone and augmented Education reality application
Slide 10: First smartphone design-win secured
First smartphone design-win secured • TLens® used in a Selfie Camera for flagship smartphone • Flagship release implies low volume • Achieve the most compact selfie camera, instant and smooth autofocus user experience • TLens® Camera module (CM) specification • 32MP • Bare TLens® Silver Premium adde
Slide 11: AR: continuing good activity
AR: continuing good activity Enterprise & Consumer • Why TLens® - Key selling points; use cases Lo • Enables ultra-compact size camera modules gis tic • Ultra-low power consumption • Fast focusing speed Education • Constant field of view (FOV) and high optical stability • No gravity impact even when
Slide 12: Magic Leap 2 use TLens, confirmed by Yole report
Magic Leap 2 use TLens®, - confirmed by Yole report 12 Fourth quarter 2022 - Earnings presentation
Slide 13: Enterprise AR Customer Cases: Design Win & In's
Enterprise AR Customer Cases: Design Win & In´s Customer • Private, founded in 2010 • Public, founded in 1997 (IPO 2009) • Largest funded (U$3.9B+) AR OEM Company profile • About 1.1K employees • About 115 employees • HQ in West Henrietta, NY • HQ in Plantation, FL ML2 is deemed the industry’s most
Slide 14: Enterprise AR Customer Cases: Design Win & Ins
Enterprise AR Customer Cases: Design Win & Ins Customer • Private, founded in 2015 • Private, founded in 2014 Company profile • About 60 employees • About 100 employees • HQ in Wuxi, China (formerly Milpitas, CA) • HQ in Beijing, China Committed to providing AR + AI industry solutions for enterprise
Slide 15: Barcode / Industrial
Barcode / Industrial • Teledyne e2v launched “2MP Multi-Focus MIPI Module”, - their 2nd generation camera powered by TLensÒ • The opportunity pipeline for this market segment is promising • It will, however, take time to develop this market and will require entry into some broader application areas
Slide 16: Healthcare
Healthcare • Xenocore has confirmed use of TLensÒ in their next generation disposable laparoscope (Saberscope), - undergoing qualification (https://xenocor.com) • Related to the announcements made 20 August 2021 and 21 September 2021 • The development is now at an advanced stage • Human trials are e
Slide 17: Good progress in most customer cases
Good progress in most customer cases Design-win Project Completed PoC Ongoing PoC Planning PoC Consumer 4 (3) 1 (0) 32 (30) 4 (5) 12 (6) Augmented Reality 1 (1) 6 (5) 12 (11) 4 (4) 11 (9) Industrial 5 (4) 0 (1) 18 (17) 15 (12) 11 (12) Other (medical, automotive) 1 (1) 1 (1) 3 (3) 15 (12) 13 (9) 11 (
Slide 18: Financial review
Financial review 18 Fourth quarter 2022 - Earnings presentation
Slide 19: Key financials
Key financials Income statement Balance sheet summary (in NOK million) Q4 2022 Q4 2021 FY 2022 FY 2021 (in NOK million) 2022 2021 Revenue 4.1 3.9 13.4 10.0 Intangible assets 24.9 33.4 Cost of sales -1.3 -1.3 -4.8 -3.9 Inventories 45.6 16.8 Research and development expenses -6.1 -6.6 -32.9 -25.4 Cash
Slide 20: Cash Flow
Cash Flow Q4 2022 cash flow development • Q4 cash used in operating activities was NOK 15.2 million, compared with NOK 16.6 million in Q4 2021 (NOK million) • Increased inventory by NOK 9.6 million in the quarter 104.4 -15.2 • Q4 cash used in investing activities was NOK 4.4 84.2 million -4.4 -0.3 -
Slide 21: Outlook
Outlook 21 Fourth quarter 2022 - Earnings presentation
Slide 22: Outlook
Outlook • Growing pipeline in several market areas • Recently announced a design-win and first mass production purchase order for smartphone case • Important milestone for the company, and key reference for the company, - for all market segments • AR opportunities are developing positively, - now co
Slide 23: Q&A, next events
Q&A NEXT EVENTS; • Annual Report 26 April 2023 • Q1-23 Report 11 May 2023 23 Fourth quarter 2022 - Earnings presentation
Slide 24: Appendix
Appendix 24 Fourth quarter 2022 - Earnings presentation
Slide 25: Management Team
Management Team Dr. Øyvind Isaksen Chief Executive Officer Dr. Isaksen has been CEO of poLight since August 2014. He has previously held several CEO positions, most recently in the publicly listed company Q-Free ASA, which he left in January 2014, after 7 years as CEO. Øyvind Isaksen holds a PhD in
Slide 26: Board of Directors
Board of Directors Grethe Viksaas – Board Chair, independent Grethe Viksaas has a long career from the Northern European managed service provider Basefarm AS. First as founder and CEO, and later as executive chair and member of the board of directors. Prior to Basefarm, Ms Viksaas served as CEO for
Slide 27: Statement of income
Statement of income 27 Fourth quarter 2022 - Earnings presentation
Slide 28: Balance sheet
Balance sheet 28 Fourth quarter 2022 - Earnings presentation
Slide 29: Cash flow
Cash flow 29 Fourth quarter 2022 - Earnings presentation