Slide 1: Fourth quarter 2020 - Earnings presentation
Fourth quarter 2020 - Earnings presentation 19th February 2021
Slide 2: Disclaimer
Disclaimer This presentation (the "Presentation") has been produced by poLight ASA (the "Company") exclusively for information purposes. This Presentation has not been approved, reviewed or registered with any public authority or stock exchange. Further to the aforementioned, this presentation is th
Slide 3: Today's agenda
Today’s agenda Presenting Dr. Øyvind Isaksen • Key events Chief Executive Officer Dr. Isaksen has been CEO of poLight since August 2014. He has • Introduction to poLight previously held several CEO positions, most recently in the publicly listed company Q-Free ASA, which he left in January 2014, aft
Slide 4: Key events in the quarter
Key events in the quarter • poLight received a follow-up purchase order related to the Honeywell EX30 barcode scan engine • Feedback from Honeywell EX30 users has so far been positive • Generally good progress on customer cases – both in consumer and professional markets • Visibility for smartphone
Slide 5: poLight at a glance
poLight at a glance Background and description Geographical footprint • Developer of unique photographic lens for use in the mobile, barcode readers, Horten Norway Tampere Finland augmented reality and other markets Lyon France Korea • Founded in 2005 and has since build state- Shenzhen Taiwan China
Slide 6: poLight's products well suited for multiple uses
poLight´s products well suited for multiple uses Consumer Industrial Medical Automotive 6
Slide 7: Operations and market review
Operations and market review
Slide 8: Barcode: Commercial breakthrough
Barcode: Commercial breakthrough • TLens included in a Honeywell EX30 barcode scan engine “The Extended FlexRange™ EX30 2D Scan Engine for warehouse and distribution centre operations seamlessly reads barcodes from 10 cm to 20 m using the latest technology for a fast auto-focus mechanism*” • The sca
Slide 9: AR: TLens considered for next generation glasses by several OEM's
AR: TLens considered for next generation glasses by several OEM´s • AR market is still at an early stage, with low volumes • TLens offers several advantages related to power consumption, speed, compactness and no gravity sensitivity • poLight is well positioned for market entry at an early stage • I
Slide 10: Smartphone: Add-in TLens concept - potential game changer
Smartphone: Add-in TLens concept - potential “game changer” • Tuneable optics, such as TLens, is getting more and more attention • The dialog and activity has been intense and positive during the quarter • TLens used in an advanced add-in lens design to realise a compact nose front-facing camera wit
Slide 11: Progress within several market segments
Progress within several market segments Design-wins Project Completed PoC Ongoing PoC Planning PoC Consumer 2 (2) 1 (1) 14 (12) 15 (11) 5 (8) Industrial/ 1 (1) 2 (1) 10 (7) 8 (6) 3 (0) professional Other (e.g. medical / automobile) 1 (0) 1 (1) 3 (4) 1 (0) 3 (3) 4 (2) 25 (20) 26 (20) 9 (8) (x): last
Slide 12: Financial review
© poLlight Financial review
Slide 13: Key financials
Key financials Income statement Balance sheet summary (in NOK million) Q4 2020 Q4 2019 FY 2020 FY 2019 (in NOK million) FY 2020 FY 2019 Revenue 1.2 2.0 3.0 3.0 Intangible assets 43.6 53.9 Cost of sales -0.4 -1.3 -0.7 -2.1 Cash and cash equivalents 77.2 73.5 Research and development expenses -5.3 -3.
Slide 14: Cash Flow
Cash Flow • Q4 cash used in operating activities was NOK 1.8 Q4 2020 cash flow development million, compared with NOK 5.9 million in Q4 (NOK million) 2019 • Received VAT settlements of NOK 8.2 million 79,4 77,2 • Q4 cash used in financing activities was NOK 0.2 -0,0 -0,2 -0,2 million -1,8 • Q4 net d
Slide 15: Outlook
© poLlight
Slide 16: Outlook
Outlook • Market opportunities maturing in several segments • Visibility for smartphone market breakthrough has increased • Priority is currently being given to customer integration projects for existing products and securing a robust supply chain • Also working to develop new product concepts based
Slide 17: Next event: Q1-21 - May 2021
Next event: Q1-21 - 7 May 2021
Slide 18: Appendix
Appendix Oy Instant focus a Small X and Y 18 a Constant field ba of view Allin focus Touch & re-Focus High performance front facing camera R=6B 4 High optical axis stability No gravity impact Low power consumption Smart implementation of dual camera IG No magnetic interference & potight
Slide 19: 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 20: Board of Directors
Board of Directors Eivind Bergsmyr – Chairman, independent (from March-2020) Mr. Bergsmyr has been a partner at Viking Venture since 2009, and serves on the boards of several Viking Venture portfolio companies. He is the current chair of Xait AS, DinERP AS, Tamigo ApS, Flowbox AB, Humly Edtech AB an
Slide 21: Statement of income
Statement of income NOK 000 Note Q4 2020 Q4 2019 FY 2020 FY 2019 Revenue 1 244 2 017 3 019 2 988 Cost of sales -382 -1 355 -698 -2 075 Gross profit 862 682 2 321 913 Research and development expenses net of governmental grants 7,8 -5 337 -3 654 -20 432 -19 874 Sales and marketing expenses -1 111 -2
Slide 22: Balance sheet
Balance sheet NOK 000 Note 2020 2019 ASSETS Property, plant and equipment 839 1 235 Intangible assets 9 43 646 53 936 Right-of-use assets 964 1 923 Total non-current assets 45 448 57 094 Inventories 9 166 7 728 Trade and other receivables 11 6 040 6 147 Other current assets 3 897 565 Cash and cash e
Slide 23: Cash flow
Cash flow NOK 000 Note Q4 2020 Q4 2019 FY 2020 FY 2019 Operating activities Loss before tax -12 630 -34 358 -50 952 -77 740 Non-cash adjustment to reconcile profit before tax to net cash flows: Depreciation and impairment of property, plant and equipment and right-of-use assets 440 473 1 842 1 895 A