Slide 1: Third quarter 2021 - Earnings presentation
Third quarter 2021 - Earnings presentation 29th October 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 • Follow-up purchase order for barcode scan engine product, worth approximately NOK 1,450,000 (Q2- rep.) • Two purchase orders received related to a surgical device, worth a combined total of NOK 4,000,000 • Private placement successfully raised net NOK 130,300,000 (includi
Slide 5: poLight at a glance
poLight at a glance Background and description Geographical footprint Horten • Global player in tunable optics having Norway applications in mobile, web cam, industrial, Southampton Tampere Finland augmented reality, medical and others San Jose, CA UK Lyon USA France Shenzhen • Founded in 2005 and h
Slide 6: TLens customer-wins
TLens® customer-win´s XIAOMI Mi Bunny 4 Pro Honeywell EX 30 barcode MAXHUB UC W20 XUN Smartwatch Max Pro smart watch scanner Machine Vision – direct marking reading 6 Third quarter 2021 - Earnings presentation
Slide 7: poLight products & technology well-suited for several applications
poLight products & technology well-suited for several applications Smartphone & wearable Barcode/industrial Augmented Reality (AR) Other • Large addressable market, • Evolving from 1D laser to 2D • Augmented reality expected to • New opportunities emerging billions of cameras produced for imaging ba
Slide 8: Operations and market review
Operations and market review
Slide 9: Barcode / Industrial
Barcode / Industrial Design-in example • Follow-up order for EX30 - good feedback • Accumulated order intake has so far been approx. NOK 4.7 millions, - supplies of TLens goes well • Release of EX30 has generated more appetite among other potential customers Barcode • 3 design-in´s, 2 PoC´s and 3 OE
Slide 10: Professional use cases
AR: TLens considered for next generation glasses by several OEM´s • AR market is still at an early stage, with low volumes Professional use cases • TLens offers several advantages related to power consumption, speed, compactness and no gravity sensitivity Education • Two use cases : world facing cam
Slide 11: Smartphone: Interest in TLens remains high
Smartphone: Interest in TLens® remains high • Add-in TLens design, is attracting good interest • Potential to become a widely used solution for selfie cameras and may represent a route to the main camera (back camera) for TLens • Progress on several Proof of Concept (PoC) projects, with OEMs and cam
Slide 12: Other cases
Other cases Web camera / Video conferencing • The pandemic has forced us to cooperate more and more virtual, and video conferring has increased in use • poLight technology will be potential good fit for web camera application due to constant field of view and speed • Longer term volumetric video con
Slide 13: Kavli Institute for Systems Neuroscience and Centre for Neural Computation
Kavli Institute for Systems Neuroscience and Centre for Neural Computation • Scientific paper about a miniaturized two-photon microscope • “The improved cell yield was achieved through a new optical system design featuring an enlarged field of view (FOV) and a new micro-tunable lens with increased z
Slide 14: Good progress in most customer cases
Good progress in most customer cases Ongoing supply Project Completed PoC Ongoing PoC Planning PoC Consumer 3 (3) 0 (0) 17 (16) 9 (12) 2 (2) Augmented Reality 3 (3) 6 (6) 6 (3) 4 (0) Industrial 2 (2) 3 (1) 14 (12) 3 (4) 8 (6) Other (e.g. medical) 1 (1) 2 (1) 3 (4) 4 (1) (x) last quarter 5 (5) 7 (5)
Slide 15: Financial review
© potight Financial review
Slide 16: Key financials
Key financials Income statement Balance sheet summary (in NOK million) Q3 2021 Q3 2020 FY 2020 (in NOK million) Q3 2021 Q3 2020 FY 2020 Revenue 1.7 0.6 3.0 Intangible assets 35.9 46.2 43.6 Cost of sales -0.9 -0.1 -0.7 Inventories 12.2 9.5 9.2 Research and development expenses -2.0 -5.6 -20.4 Cash an
Slide 17: Cash Flow
Cash Flow • Q3 cash used in operating activities was NOK 9.2 Q3 2021 cash flow development million, compared with NOK 10.3 million in Q3 (NOK million) 2020 118,1 0,0 • Q3 cash received from financing activities was 164,1 NOK 118.1 million • net proceeds from the private placement of NOK 118.5 millio
Slide 18: Outlook
© potight
Slide 19: Outlook
Outlook • Overall, progress has been good during the quarter in all market segments • Smartphone customer cases are still at Proof of Concept level, challenges need to be solved, but the possibility of a real phone project in the second half of 2022 remains in place • In the Augmented Reality (AR) s
Slide 20: Next event: Q4-21 February 2022
Next event: Q4-21 18 February 2022
Slide 21: Appendix
Appendix •Appendix 21 Third quarter 2021 - 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 Ann-Tove Kongsnes - Chairman Ms. Kongsnes is an Investment Director at Investinor AS. Kongsnes has over her career gained extensive experience from investments, development, M&A, IPO’s and exits of technology companies. Prior to this, she worked 7 years with international marketin
Slide 24: Statement of income
Statement of income NOK 000 Note Q3 2021 Q3 2020 YTD 2021 YTD 2020 FY 2020 Sale of goods 1 696 526 4 777 1 534 2 590 Rendering of services 0 91 1 350 241 429 Revenue 1 696 617 6 126 1 775 3 019 Cost of sales -930 -122 -2 540 -316 -698 Gross profit 766 495 3 587 1 459 2 321 Research and development e
Slide 25: Balance sheet
Balance sheet NOK 000 ASSETS Note Q3 2021 Q3 2020 FY 2020 Property, plant and equipment 1 393 983 839 Intangible assets 9 35 944 46 217 43 646 Right-of-use assets 5 025 1 510 964 Total non-current assets 42 363 48 711 45 448 Inventories 12 236 9 547 9 166 Trade and other receivables 8 8 662 16 563 6
Slide 26: Cash flow
Cash flow NOK 000 Note Q3 2021 Q3 2020 YTD 2021 YTD 2020 FY 2020 Operating activities Profit / loss (-) for the period -6 016 -5 583 -45 532 -38 321 -50 952 Adjustments for: Depreciation and impairment of property, plant and equipment and right-of-use assets 513 439 1 272 1 402 1 842 Amortisation an