poLight (PLT) investor relations material

Executive summary

• Achieved record Q1 2026 revenue of NOK 11.4 million, up from NOK 3.8 million in Q1 2025, driven by AR/MR, industrial, and healthcare markets, with TLensⓇ and MLensⓇ launches and strong TWedgeⓇ OEM interest.

• EBITDA loss narrowed to NOK 21.7 million from NOK 25.2 million year-over-year, reflecting improved gross margin.

• Cash position at quarter-end was NOK 261.7 million, down from NOK 284.0 million at year-end 2025.

• Key purchase orders included NOK 0.9 million from a barcode scanner manufacturer and NOK 1 million for a consumer OEM qualification program.

• Capacity and testing constraints are being addressed through recruitment and equipment investments.

Financial highlights

• Q1 2026 revenue reached NOK 11.4 million, up from NOK 8.6 million in Q4 2025 and NOK 3.8 million in Q1 2025.

• Gross profit was NOK 7.9 million, with gross margin improving to 69% from 34% year-over-year.

• NRE revenue was NOK 4.2 million in Q1 2026, a significant portion of total revenue.

• Operating expenses rose by NOK 3.1 million, mainly due to higher travel and R&D costs.

• Quarterly cash burn is about NOK 22 million, with 11-12 quarters of runway.

Outlook and guidance

• Long-term outlook remains positive, especially in AR/MR, with several TLensⓇ consumer PoCs and AR/MR POCs progressing toward milestones in 2026 and possible commercial launches in 2027.

• TWedgeⓇ mass production is unlikely before 2028 if development starts mid-2026; external commitments or financing are sought.

• Q-Tech production line expected to be qualified and operational within 2026.

• Continued investment in organization, customer support, and equipment to support growth and customer demands.