Slide 1: Second quarter 2021 - Earnings presentation
Second quarter 2021 - Earnings presentation 20th August 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 • First design-win for a web camera application • First design-win for a machine vision product • Good progress in most customer cases • As already announced smartphone project cancelled due to portfolio changes (post Q2) • The same OEM is still interested in TLens® and oth
Slide 5: poLight at a glance
poLight at a glance Background and description Geographical footprint Horten • Developer of unique photographic lens for Norway use in the mobile, barcode readers, Southampton Tampere Finland augmented reality and other markets San Jose, CA UK Lyon USA France Shenzhen • Founded in 2005 and has since
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 Second 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: Follow-up order for EX30
Barcode: Follow-up order for EX30 • The EX30 scan engine is sold to other OEMs for use in various barcode products • Accumulated order intake has so far been approx. NOK 4.7 millions • Release of EX30 has build more appetite among other potential customers Examples of EX30 use cases *Source: Honeywe
Slide 10: AR: TLens considered for next generation glasses by several OEMs
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 • Two use cases : world facing camera & tuning for laser display •
Slide 11: Smartphone: Interest in TLens remains high
Smartphone: Interest in TLens® remains high • Smartphone planned using TLens will not be released • Portfolio strategic reasons and not TLens related • Same OEM have interest in using TLens for other smartphone releases – under consideration and TBD • Ongoing & planned PoC´s with OEM´s and camera mo
Slide 12: Web cam design win - Maxhub
Web cam design win - Maxhub 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 volu
Slide 13: 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 (1) 16 (14) 15 (14) 3 (7) Industrial 2 (1) 4 (4) 15 (12) 4 (7) 6 (3) Other (e.g. medical) 1 (1) 1 (1) 4 (4) 1 (0) 5 (4) 5 (6) 32 (27) 23 (25) 10 (11) (x): last quarter number 13 Second
Slide 14: Financial review
© potight Financial review
Slide 15: Key financials
Key financials Income statement Balance sheet summary (in NOK million) Q2 2021 Q2 2020 FY 2020 (in NOK million) Q2 2021 Q2 2020 FY 2020 Revenue 2.9 0.6 3.0 Intangible assets 38.5 48.8 43.6 Cost of sales -1.3 -0.1 -0.7 Inventories 8.6 9.3 9.2 Research and development expenses -7.6 -4.0 -20.4 Cash and
Slide 16: Cash Flow
Cash Flow • Q2 cash used in operating activities was NOK Q2 2021 cash flow development 12.6 million, compared with NOK 8.3 million in (NOK million) Q2 2020 • The increase is attributable to higher R&D 68,4 expenses in the period 55,6 • Q2 net decrease in cash was NOK 12.9 million -12,6 -0,1 -0,1 0,1
Slide 17: Outlook
© potight
Slide 18: Operating and financial targets
Operating and financial targets Operating milestones Today Launch new 5 customer- product for wins and Optical Image First design- several Target Stabilization win for (OIS), or bigger smartphone Target first projects/PoC design-wins Target first design-win ongoing for AR design-win aperture lenses,
Slide 19: Outlook
Outlook • Overall progress has been relatively good during the quarter • Obviously the announced cancellation has impacted the company and shareholders negatively • Interest in TLens® remains high after the add-in design concept has been introduced, and the pipeline of opportunities is promising • S
Slide 20: Next event: Q3-21 October 2021
Next event: Q3-21 29 October 2021
Slide 21: Appendix
Appendix •Appendix 21 Second 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 Q2 2021 Q2 2020 YTD 2021 YTD 2020 FY 2020 Revenue 2 885 622 4 430 1 158 3 019 Cost of sales -1 295 -133 -1 610 -194 -698 Gross profit 1 590 489 2 820 964 2 321 Research and development expenses net of governmental grants 7,8 -7 622 -4 020 -16 841 -9 526 -20 432 Sales
Slide 25: Balance sheet
Balance sheet NOK 000 Note Q2 2021 Q2 2020 FY 2020 ASSETS Property, plant and equipment 936 1 068 839 Intangible assets 9 38 511 48 491 43 646 Right-of-use assets 5 415 1 327 964 Total non-current assets 44 863 51 186 45 448 Inventories 8 571 9 254 9 166 Trade and other receivables 10 557 6 045 6 04
Slide 26: Cash flow
Cash flow NOK 000 Note Q2 2021 Q2 2020 YTD 2021 YTD 2020 FY 2020 Operating activities Profit / loss (-) for the period -16 506 -13 469 -39 517 -32 739 -50 952 Adjustments for: Depreciation and impairment of property, plant and equipment and right-of-use assets 294 481 759 962 1 842 Amortisation and