Slide 1: Interim report - Second quarter 2022
Interim report - Second quarter 2022 Earnings presentation 18th August 2022 1 Interim report Second 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 previously held several CEO positions, most recently in the publicly • Operations and markets review listed company Q-Free ASA, wh
Slide 4: Key events in the quarter
Key events in the quarter • Confirmed design-win award and first mass production purchase order worth approximately NOK 0.6 million for a barcode scan engine reader product • Signed an agreement to support a PoC (Proof of Concept) endoscopic camera system development with a top-tier medical device c
Slide 5: poLight at a glance
poLight at a glance Background & description Geographical footprint • Global player in tunable optics with applications in Horten Norway mobile, web cam, industrial, augmented reality, Tampere Finland Oxford medical and others UK Moscow Russia San Jose, CA Lyon • Founded in 2005 and has since develo
Slide 6: TLens customer-wins
TLens® customer-wins XIAOMI Mi Bunny 4 Pro smart watch MAXHUB UC W20 Augmented reality – world-facing camera XUN Smartwatch Honeywell Machine Vision Max Pro EX 30 barcode – direct marking reading scanner Barcode reader – assembly line Barcode reader – industrial application 6 Interim report Second q
Slide 7: poLight products & technology well-suited for several applications
poLight products & technology well-suited for several applications Smartphones and wearables Barcode/Industrial Augmented Reality (AR) Other • Large addressable market for which • Evolving from 1D laser to 2D • AR is expected to to grow • New opportunities are billions of cameras are produced for im
Slide 8: Operations and market review
Operations and market review 8 Interim report Second 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 Education various use cases • Selfie camera solution still the most relevant short/medium-term • Even though some sm
Slide 10: AR: Progress continues
AR: Progress continues Professional use cases • TLens is being considered by several important market players Education for use in next generation AR headsets, and testing/prototype building is continuing • Low power consumption, no gravity sensitivity, temperature stabilisation (often called atherm
Slide 11: AR: Progress continues
AR: Progress continues Professional use cases • The augmented reality (AR) market is opening many opportunities for the company, in addition to TLens and camera applications Education • The company recently announced a design-in related to the use of TLens for a display application • Realising incre
Slide 12: Barcode / Industrial
Barcode / Industrial Examples of EX30 use cases • During the quarter, the company received its fourth design-win related to a barcode application • The opportunity pipeline for this market segment is quite promising and has the potential to be a significant margin contributor • It will, however, tak
Slide 13: Healthcare
Healthcare • During the quarter, the company signed a very important development contract, worth approximately NOK 1.7 million, with a tier-one medical equipment supplier for potential use in an endoscopic camera system • The Kavli activity has generated a lot of activity and the company are serving
Slide 14: Good progress in most customer cases
Good progress in most customer cases Design-win Project Completed PoC Ongoing PoC Planning PoC Consumer 3 (3) 0 (0) 28 (27) 7 (7) 5 (3) Augmented Reality 1 (1) 5 (5) 10 (10) 5 (4) 6 (5) Industrial 4 (3) 1 (2) 17 (14) 9 (7) 11 (8) Other (e.g. medical) 1 (1) 1 (1) 3 (3) 10 (10) 7 (3) 9 (8) 7 (8) 58 (5
Slide 15: Financial review
Financial review 15 Interim report Second quarter 2022 - Earnings presentation
Slide 16: Key financials
Key financials Income statement Balance sheet summary (in NOK million) Q2 2022 Q2 2021 FY 2021 (in NOK million) Q2 2022 Q2 2021 FY 2021 Revenue 2.5 2.9 10.0 Intangible assets 28.5 38.5 33.4 Cost of sales -0.7 -1.3 -3.9 Inventories 30.5 8.6 16.8 Research and development expenses -7.9 -7.6 -25.4 Cash
Slide 17: Cash Flow
Cash Flow Q2 2022 cash flow development • Q2 cash used in operating activities was NOK (NOK million) 22.8 million, compared with NOK 12.6 million 150,2 -22,8 in Q2 2021 -3,1 -0,0 0,2 124,4 • Increased inventory by NOK 9.8 million • Q2 cash used in investing activities was NOK 3.1 million • Q2 net de
Slide 18: Outlook
Outlook 18 Interim report Second quarter 2022 - Earnings presentation
Slide 19: Outlook
Outlook • The quarter has again confirmed the potential in several market segments • The opportunity pipeline is encouraging in many market segments • The main focus going forward will be to position poLight in relation to smartphone cases, mature the augmented reality projects/PoCs, gradually build
Slide 20: NEXT EVENT
NEXT EVENT Q3-22 3 November 2022 20 Interim report Second quarter 2022 - Earnings presentation
Slide 21: Appendix
Appendix 21 Interim report Second quarter 2022 - Earnings presentation
Slide 22: 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 23: Board of Directors
Board of Directors Grethe Viksaas - Chairman, 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 SOL
Slide 24: Statement of income
Statement of income 24 Interim report Second quarter 2022 - Earnings presentation
Slide 25: Balance sheet
Balance sheet 25 Interim report Second quarter 2022 - Earnings presentation
Slide 26: Cash flow
Cash flow 26 Interim report Second quarter 2022 - Earnings presentation