Slide 1: Third quarter 2020 - Earnings presentation
Third quarter 2020 - Earnings presentation 23 October 2020
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
Key events • TLens included in a barcode scan engine product released to market • Established project with a key player in the smartphone segment to make a prototype of a new version of TLens • Generally good progress on customer cases • End-user sales of smartwatches still lower than normal • VAT r
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, augmented reality and Horten Norway Tampere Finland other markets Lyon France Korea • Founded in 2005 and has since build state-of-the-art Shenzhen Ta
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 barcode scan engine for warehouse and distribution center operations • Enables barcodes to be read at variable distances, using TLens for fast auto-focus • The scan engine is intended for use in various barcode products • Customer well recognise
Slide 9: AR: TLens considered for next generation glasses by several OEMs
AR: TLens considered for next generation glasses by several OEM´s – one case moving from PoC to project • 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
Slide 10: Smartphone: Good progress on Add-in & New customer during the quarter
Smartphone: Good progress on Add-in & New customer during the quarter • TLens used in an advanced add-in lens design to realise a compact nose front-facing camera with AF • Camera module supplier & OEM are heavily engaged • Good progress has been made during the quarter • Technically challenging pro
Slide 11: Progress within several market segments – PoC moving towards real projects
Progress within several market segments – 2 PoC moving towards real projects Ongoing supply Project Completed PoC Ongoing PoC Planning PoC Consumer 2 (2) 1 (0) 12 (7) 11 (12) 8 (8) Industrial 1 (0) 1 (1) 7 (3) 6 (8) 0 (1) Other (e.g. medical / automobile) 1 (0) 4 (6) 0 (0) 3 (2) 2 (1) 20 (10) 20 (26
Slide 12: Financial review
© poLlight Financial review
Slide 13: Key financials
Key financials Income statement Balance sheet summary (in NOK million) Q3 2020 Q3 2019 FY 2019 (in NOK million) Q3 2020 Q3 2019 FY 2019 Revenue 0.6 0.4 3.0 Intangible assets 46.2 74.7 53.9 Cost of sales -0.1 -0.4 -2.1 Inventories 9.5 8.5 7.7 Research and development expenses -5.6 -5.1 -19.9 Cash and
Slide 14: Cash Flow
Cash Flow • Q3 cash used in operating activites was NOK 10.3 Q3 2020 cash flow development million, compared with NOK 10.9 million in Q3 (NOK million) 2019 89,9 • Q3 cash used in investing activities was NOK 0.1 79,4 million • Q3 cash used in financing activities was NOK 0.4 -10,3 -0,1 -0,4 0,1 mill
Slide 15: Outlook
© poLlight
Slide 16: Outlook
Outlook • Since the last quarterly report • the company has established its first commercial reference in the barcode market • established customer project in the smartphone segment • achieved significant progress in several PoC´s (e.g. add-in) • In the opportunity pipeline are already • new consume
Slide 17: Next event: Q4-20 - February 2021
Next event: Q4-20 - 19 February 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 Q3 2020 Q3 2019 YTD 2020 YTD 2019 FY 2019 Revenue 617 423 1 775 971 2 988 Cost of sales -122 -355 -316 -740 -2 075 Gross profit 495 68 1 459 231 913 Research and development expenses net of governmental grants 7,8 -5 568 -5 055 -15 095 -16 220 -19 874 Sales and marke
Slide 22: Balance sheet
Balance sheet NOK 000 Note Q3 2020 Q3 2019 FY 2019 ASSETS Property, plant and equipment 983 1 229 1 235 Intangible assets 9 46 217 74 697 53 936 Right-of-use assets 1 510 2 221 1 923 Total non-current assets 48 711 78 148 57 094 Inventories 9 547 8 535 7 728 Trade and other receivables 11 16 563 9 6
Slide 23: Cash flow
Cash flow NOK 000 Note Q3 2020 Q3 2019 YTD 2020 YTD 2019 FY 2019 Operating activities Loss before tax -5 583 -14 456 -38 321 -43 382 -77 740 Non-cash adjustment to reconcile profit before tax to net cash flows: Depreciation and impairment of property, plant and equipment 439 409 1 402 1 422 1 895 Am