poLight (PLT) Investor Update summary

Business and market positioning

• Focused on consumer, AR/MR, and industrial markets, with design wins in each segment.

• AR/MR is currently the most active area, with products in enterprise glasses and high-end headsets.

• Early commercialization stage with fluctuating revenues, but strong optimism due to growing market presence.

• Ongoing technology programs aim to future-proof offerings and address new market needs.

• Manufacturing capabilities and organizational competence are being optimized for future growth.

Product development and innovation

• Main R&D focus is on developing a larger TLens for bigger image sensors, a technically challenging but progressing project.

• Existing TLens products are being made easier and cheaper to integrate through new packaging and reference designs.

• Stacked TLens configurations are already in use for applications requiring higher optical power, such as brain research tools.

• TWedge and TLens share core technology, offering low power consumption and reliability.

• Diamond and Platinum TLens concepts have been consolidated into the larger TLens project.

Commercial and customer activity

• Display project progressing, with customer preparing a near-form factor prototype and seeking a lead customer before mass production.

• Significant upsell potential in custom packaging solutions compared to standard TLens.

• Tier one OEMs are showing strong interest in TWedge, with recent significant sample orders and integration testing underway.

• Smartwatch activity is focused on children's products, with potential for broader adoption as costs decrease.

• Broader interest in the laptop segment, but significant releases not expected before late 2025.