poLight (PLT) investor relations material

Executive summary

• Achieved first consumer AR/MR design-in, marking a major milestone and validating technology fit for high-growth markets, with three mass production purchase orders received.

• Revenue in Q2 2026 reached NOK 9.1 million, up from NOK 3.0 million in Q2 2025, driven by AR/MR and industrial markets, including significant non-recurring engineering work.

• Expanded MLens® portfolio for industrial machine vision, positioning higher in the value chain and receiving positive market feedback.

• Maintained strong engagement in healthcare and barcode/industrial segments, with ongoing PoCs, design-wins, and new product launches.

• Cash and cash equivalents stood at NOK 243.7 million at quarter-end, with a net decrease of NOK 18.0 million during Q2 2026.

Financial highlights

• Q2 2026 revenue: NOK 9.1 million (Q2 2025: NOK 3.0 million); YTD 2026 revenue already surpasses FY 2025.

• Gross profit for Q2 2026 was NOK 4.4 million, compared to a loss of NOK 0.2 million in Q2 2025; gross margin for the quarter at approximately 50%.

• EBITDA for Q2 2026 was NOK -33.1 million; adjusted EBITDA loss NOK -22.9 million.

• Operating expenses increased due to higher headcount, share option program, and employer NICs linked to share price appreciation.

• Cash at period end: NOK 243.7 million, down from NOK 284.0 million at year-end 2025.

Outlook and guidance

• Positive outlook in AR/MR, with one consumer project now a design-in and expected product release in 2026.

• Autofocus is increasingly on the roadmap for AR/MR OEMs, with poLight’s technology receiving encouraging feedback.

• Continued investment in customer engagement, innovation, and partnerships is planned, increasing operational costs but aiming to strengthen market leadership.

• Competition expected, but company positions itself on performance rather than cost.