Polight Asa · OSL:PLT
Polight Asa — Q3 2026 Earnings Presentation
33 slides from Polight Asa's earnings presentation, Oct 29, 2026
Slide 1: Third quarter 2026 Earnings presentation
Third quarter 2026 Earnings presentation 29 October 2026 Third quarter 2026 - Earnings presentation
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 • Key events Dr Øyvind Isaksen • Introduction to poLight Chief Executive Officer Dr Isaksen has been CEO of poLight since August • Markets review 2014. He has previously held several CEO positions, most recently in the publicly listed • Financial review company Q-Free ASA,
Slide 4: Key events in the quarter
Key events in the quarter • A third follow-on TLens® purchase order, with a total value of approximately NOK 0.8 million, was received in connection with the same AR|MR customer as announced on 7 April and 20 May 2026 (10 July 2026). • poLight now considers the customer case described above to be a
Slide 5: Focused on growth
Focused on growth Consumer use cases Unique technology platform Global Player • Founded in 2005 and listed on Speed Oslo Stock Exchange (PLT) AR/MR Wearables • Norway headquarters with Devices employees in Finland, France, Small real estate Smartphone, UK, US, China, Taiwan and the Webcam, Laptop Ph
Slide 6: TLens®: Smallest, Lowest Power and Fastest
TLens® : Smallest, Lowest Power and Fastest Principle of operation Implementation Piezo MEMS film Glass membrane Polymer Glass window From Gel > MEMS Wafer > TLens® > Camera module > OEM OEM´s Camera Bare TLens® Module Partners Driver ASIC Packaged TLens® HQ > MEMS Fab > Assembly partner > Module in
Slide 7: Targeting Momentum Markets – Supporting Emerging Use Cases
Targeting Momentum Markets – Supporting Emerging Use Cases Momentum Markets AR|MR Consumer Machine Vision Industrial Leading position in AF design wins Consumers demand better AI-based imaging driving manufacturing Smaller, better scan engines imaging on all devices expand uses Emerging Use Cases Au
Slide 8: 44 Customer design-wins Drive momentum
44 Customer design-wins Drive momentum 30 Industrial + 4 healthcare + 4 consumer + 6 AR/MR AR|MR Industrial/ VUZIX AR smart glasses Machine Vision/ Barcode and MR Multi-Focus AI-driven uses Shield® display use cases MIPI Module require flexible, highly- Enterprise AR demand AF Consumer functional im
Slide 9: Markets review
Markets review Third quarter 2026 - Earnings presentation
Slide 10: Update on Consumer - TLens®
Update on Consumer - TLens® • Activity in the quarter related mainly to AR|MR, and other wearables/laptop. • TLens® is being evaluated and tested by several important AR|MR market players. • Some of the TLens® cases becoming increasingly mature. • Ongoing public debate in some jurisdictions has also
Slide 11: Update on Consumer - TWedge® - Interest continues
Update on Consumer - TWedge® - Interest continues • Major consumer AR|MR OEMs are continuing to test the prototypes for various applications. • Building appetite and gathering market intelligence by selling technical samples. • In the third quarter, additional purchase orders worth approximately NOK
Slide 12: Status on consumer (including AR|MR consumer)
Status on consumer (including AR|MR consumer) 4 (4) Design-win 1 (1) Design-in 19 4 laptop laptop laptop accessory accessory wearable laptop 23 PoC (23) 14 1 laptop 15 Planning (19) PoC POC = Proof of Concept, including TWedge® (PoCs (seven) and planned PoCs (one)) Numbers in () represent last quart
Slide 13: Enterprise AR|MR
Enterprise AR|MR • The enterprise cases today represent a relatively low volume. • Exposure important for penetrating and building trust in the ongoing consumer cases being explored. • Expected that the volume in enterprise market also will increase as technology and applications mature. s in w • A
Slide 14: Status on AR|MR
Status on AR|MR 6 (6) Design-win C 1 (1) Design-in 19 1 C C C C C 20 (20) PoC 1 14 C C C C 15 24 (18) Planning PoC POC = Proof of Concept. Overview includes TWedge® (seven PoCs and one planned PoCs) Numbers in () represent last quarter C = Consumer 14 Third quarter 2026 - Earnings presentation
Slide 15: Update on Barcode/Industrial
Update on Barcode/Industrial • The barcode-related order intake in the quarter was approximately NOK 0.8 million compared to approximately NOK 1.5 million in the previous quarter. • The purchase orders are a mix of existing customers already in mass production and new customers in a PoC and design-i
Slide 16: Status on Barcode/Industrial
Status on Barcode/Industrial 15 3 30 (30) Design-win SI SI SI e. sc op e 11 4 (4) Design-in 4 5 10 (9) PoC Ot he r r he ot 3 9 5 17 (24) Planning PoC r r he he ot ot Ot he r 16 Third quarter 2026 - Earnings presentation
Slide 17: Update on Healthcare
Update on Healthcare • Continues to support selected opportunities in the healthcare market segment. • Partnership with the Kavli Institute at the Norwegian University of Science and Technology (NTNU) has led to three commercial companies now offering turn-key Mini2P solution. • During the quarter a
Slide 18: Update on Automotive
Update on Automotive • There was no activity related to Automotive during the third quarter, and two Planning PoCs were removed. • Going forward, this market segment may have a need for autofocus technology, and TLens® is one of the solutions being evaluated. • The market is potentially significant
Slide 19: Pipeline update per end Q3-26
Pipeline update per end Q3-26 Design-win Design-in Completed PoC Ongoing PoC Planning PoC Consumer 4 (4) 0 (0) 44 (43**) 4 (4) 1 (2) Augmented|Mixed Reality 6 (6) 1 (1) 37 (32) 20 (20) 15 (18) (AR|MR) Industrial 30 (30) 4 (4) 56 (54) 10 (9) 17 (24) Other (healthcare, automotive) 4 (4) 1 (0) 21 (20)
Slide 20: poLight PoC pipeline & design-in/win development
poLight PoC pipeline & design-in/win development # Planning PoC, # Design-in/win PoC, Completed PoC * Medical/Healthcare : Removed all (9) university related ongoing PoC activities from the overview 20 Third quarter 2026 - Earnings presentation
Slide 21: Financial Review
Financial Review Third quarter 2026 - Earnings presentation
Slide 22: Key financials
Key financials Income statement Balance sheet summary (in NOK million) Q3 2026 Q3 2025 FY 2025 (in NOK million) 30.09.2026 30.09.2025 31.12.2025 Revenue 4.9 5.0 20.5 Change in obsolescence provision -1.2 -0.9 -8.0 Intangible assets 0.0 4.9 3.0 Cost of goods sold -2.1 -1.4 -3.5 Inventories 45.1 54.8
Slide 23: Cash Flow
Cash Flow • Q3 2026 net decrease in cash was NOK 19.2 million Q3 2026 cash flow development • Q3 2025 net increase in cash was NOK 25.1 million (NOK million) • Q3 cash used in operating activities was NOK 22.3 243.7 224.6 -22.3 5.8 million, NOK 0.3 million more than in Q3 2025 -2.5 -0.2 • On top lev
Slide 24: Outlook
Outlook Third quarter 2026 - Earnings presentation
Slide 25: Outlook
Outlook • poLight’s outlook remains positive. • Particularly within the AR|MR segment, where several TLens® consumer PoCs are maturing. • Two cases are now regarded as a design-ins, and one is expected to be released in the relatively near future – major milestone ! • Autofocus capability appears to
Slide 26: Q&A
Q&A NEXT EVENT; • Capital Market Day 2026 30 October 2026 • Q4 presentation 24 February 2027 Third quarter 2026 - Earnings presentation
Slide 27: Appendix
Appendix Third quarter 2026 - Earnings presentation
Slide 28: Board Members
Grethe Viksaas – Board Chairperson, independent Board Members Grethe Viksaas has had a long career in 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 f
Slide 29: Management
Management 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 Applied
Slide 30: Statement of income
Statement of income NOK 000 Note Q3 2026 Q3 2025 YTD 2026 YTD 2025 FY 2025 Sale of goods 4,859 4,998 17,486 11,571 19,370 Rendering of services 0 0 7,946 264 1,114 Revenue 4,859 4,998 25,432 11,835 20,484 Cost of goods sold -2,068 -1,444 -6,790 -2,584 -3,504 Change in obsolescence provision -1,173 -
Slide 31: Balance sheet
Balance sheet NOK 000 Note Q3 2026 Q3 2025 2025-12-31 ASSETS Property, plant and equipment 13,821 8,996 8,683 Intangible assets 8 0 4,850 3,031 Right-of-use assets 9,243 9,466 10,091 Total non-current assets 23,064 23,312 21,805 Inventories 45,055 54,807 53,515 Trade and other receivables 9 18,424 1
Slide 32: Cash flow
Cash flow NOK 000 Note Q3 2026 Q3 2025 YTD 2026 YTD 2025 FY 2025 OperaAng acAviAes Profit / loss (-) before tax -28,163 -28,397 -82,977 -85,377 -118,054 Adjustments for: DepreciaEon of property, plant and equipment and right-of-use assets 979 836 2,936 2,533 3,352 AmorEsaEon of intangible assets 8 0
Slide 33: Third quarter 2026 - Earnings presentation
Third quarter 2026 - Earnings presentation