poLight (PLT) investor relations material

Executive summary

• Achieved record quarterly revenue of NOK 11.4 million in Q1 2026, up from NOK 3.8 million in Q1 2025, driven by strong AR/MR, TLensⓇ sales, and industrial orders.

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

• Significant customer activity in AR/MR, with follow-on orders from major OEMs and new product launches, including MLensⓇ for industrial machine vision.

• Organization is expanding, with active recruitment and increased operational costs to support growth and ramp-up in production capacity.

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

Financial highlights

• Q1 2026 revenue reached NOK 11.4 million, surpassing the previous quarter and more than doubling year-over-year.

• Gross margin was 70% (including NOK 4.2 million NRE), or 50% excluding NRE; gross profit NOK 7.9 million.

• EBITDA: NOK -21.7 million (Q1 2026), NOK -25.2 million (Q1 2025); net loss NOK -22.0 million.

• Cash and cash equivalents: NOK 261.7 million at quarter-end.

• Inventory decreased by NOK 2 million, mainly due to increased obsolescence provision.

Outlook and guidance

• Long-term outlook remains positive, especially in AR/MR, with several TLensⓇ consumer PoCs and TWedge® projects progressing toward milestones in 2026.

• Continued investment in customer support, innovation, and partnerships is expected to increase operational costs.

• Ongoing efforts to secure customer commitments for TWedge® before mass production investment.

• Operating expenses expected to rise through 2026 as recruitment and supply chain investments continue.