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"value": "\n
\n1 Corporate information
\npoLight ASA is a publicly listed limited company, founded in 2005, which is incorporated and domiciled in Norway. The address of its
\nregistered office is Innlaget 5, N-3185 Skoppum, Norway.
\npoLight ASA (OSE: PLT) offers patented, state-of-the-art tunable optics technology, leveraging its proprietary polymer and piezo
\nMEMS technology. Founded in 2005, its first product TLens\u00ae replicates \"the human eye\" experience in autofocus cameras used in
\napplications such as AR/MR devices, smartphones, wearables, webcams and other consumer devices, industrial barcode scanners
\nand machine vision systems, and healthcare applications. With over 160 granted patents, poLight's technology delivers extremely
\nfast focus, small footprint, ultra-low power consumption, no magnetic interference, and constant field of view, enabling better
\nimaging system performance and new user experiences compared to alternative technologies. poLight is based in Horten, Norway,
\nwith employees in Finland, France, UK, US, China, Taiwan, and the Philippines. For more information, please visit
\nhttps://www.polight.com.
\nInformation on the Group and related parties are presented in Note 18 Related parties.
\n\nThe consolidated financial statements of poLight ASA and its subsidiaries (collectively, poLight or the Group) for the year ended 31
\nDecember 2023 were authorised for issue in accordance with a resolution of the Board of Directors on 24 April 2024, to be approved
\nby the annual general meeting on 22 May 2024.
\n
\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag213": {
"value": "poLight ASA",
"dimensions": {
"concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag214": {
"value": "publicly listed limited company",
"dimensions": {
"concept": "ifrs-full:LegalFormOfEntity",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag215": {
"value": "Norway",
"dimensions": {
"concept": "ifrs-full:DomicileOfEntity",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag216": {
"value": "Innlaget 5, N-3185 Skoppum, Norway",
"dimensions": {
"concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag217": {
"value": "poLight ASA (OSE: PLT) offers patented, state-of-the-art tunable optics technology, leveraging its proprietary polymer and piezoMEMS technology",
"dimensions": {
"concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag218": {
"value": "\nThe consolidated financial statements of poLight ASA and its subsidiaries (collectively, poLight or the Group) for the year ended 31
\nDecember 2023 were authorised for issue in accordance with a resolution of the Board of Directors on 24 April 2024, to be approved
\nby the annual general meeting on 22 May 2024.
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag224": {
"value": "\n
\n
\n
\n2 Material accounting policies
\n\n
\n
\n2.1 Basis of preparation
\n\nThe consolidated financial statements of the Group have been prepared in accordance with IFRS\u00ae Accounting Standards adopted by
\nthe EU.
\n
\n\n\n\n\n\n\nThe consolidated financial statements have been prepared on a historical cost basis. The consolidated financial statements are
\npresented in Norwegian kroner (NOK), and all values are rounded off to the nearest thousand (NOK 000), unless otherwise indicated.
\n
\n\n\n\n\n\n
\n\n\n\n\n\n\n2.2 Basis of consolidation
\nThe consolidated financial statements comprise the financial statements of poLight ASA and its subsidiaries.
\n
\n\n\n\n\n\n2.3 Summary of material accounting policies
\nThe following are the material accounting policies applied by the Group in preparing its consolidated financial statements:
\n\nRevenue from contracts with customers
\nThe group has two revenue streams:
\n\u2022 Sales of TLenses and related driver ASICs.
\nThe Group recognizes revenue from sale of TLenses and other components at the point in time when the control of goods is
\ntransferred to the customer at an amount that reflects the consideration to which the Group expects to be entitled in
\nexchange for those goods. Revenue is generally recognised on delivery of the goods.
\n\u2022 Non-recurring engineering (\u201cNRE\u201d) services related to customer development projects.
\nIn certain cases, when the counterparty to the contract is a customer or a potential customer, the Group will engage in
\ncustomer development projects financed by the customer. In general, income is recognised when the project is finalised
\naccording to the contract and the customer can obtain the benefits from the project. Revenue may be recognised over time
\nwhen one of the following criteria are met:
\n
\n\n\n\n\n
\n\n\n\n\n\n
\n
\n
\n
\n\n\u2022 Customer consumes benefits as the Group performs the service
\n\u2022 Customer controls benefits as the Group performs the service
\nEarned revenue for the period is earned revenue at the reporting date, less earned revenue in prior periods. If the project is
\nongoing, income will be recognized continuously in accordance with the agreement, based on actual deliveries.
\nThe Group has for the periods presented limited sales and revenues. Further information on revenue recognition or disclosures
\naccording to IFRS 15 is consequently not relevant for these financial statements.
\n
\n\n\n\n\n\nForeign currencies
\nThe Group\u2019s consolidated financial statements are presented in Norwegian kroner (NOK), which is also the parent company\u2019s
\nfunctional currency. For each entity, the Group determines the functional currency, and items included in the financial statements of
\neach entity are measured using that functional currency. The Group uses the direct method of consolidation, and on disposal of a
\nforeign operation, the gain or loss that is reclassified to profit or loss reflects the amount that arises from using this method.
\nDifferences arising on settlement or translation of monetary items are recognised in profit or loss.
\nOn consolidation, the assets and liabilities of foreign operations are translated into NOK at the rate of exchange prevailing at the
\nreporting date, and the statement of profit or loss are translated at average monthly exchange rates. The exchange differences arising
\non the translation are recognised in OCI. Exchange differences arising from the translation of net investment in subsidiaries and
\nborrowings are included in OCI. At December 31, 2023 an intercompany subordinated loan to poLight France SAS of EUR 2,650,000 /
\nNOK 29,787,325 (2022: EUR 2,750,000 / NOK 28,912,950) was regarded as a part of the net investment in poLight France SAS.
\n
\n\n\n\n\n\nGovernment grants
\nGovernment grants are recognised when there is reasonable assurance that the grant will be received, and that all attached
\nconditions will be complied with. When the grant relates to an expense item, it is deducted from the related expense on a systematic
\nbasis over the periods that the costs, which it is intended to compensate, are expensed. Where the grant relates to an asset, it reduces
\nthe carrying amount of the asset. The grant is then recognised as income over the useful life of the depreciable asset, by way of a
\nreduced depreciation charge.
\n
\n\n\n\n\n\n
\nTaxes
\nCurrent income tax
\nCurrent income tax assets and liabilities for the current period are measured at the amount expected to be recovered from or paid
\nto the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted, or substantively
\nenacted at the reporting date in the countries where the Group operates and generates taxable income.
\nManagement periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations
\nare subject to interpretation, and it establishes provisions where appropriate.
\n\nDeferred tax
\nDeferred tax is provided using the liability method on temporary differences between the tax bases of assets and liabilities, and their
\ncarrying amounts, for financial reporting purposes at the reporting date.
\nDeferred tax liabilities are recognised for all taxable temporary differences.
\nDeferred tax assets are recognised for: all deductible temporary differences: the carry forward of unused tax credits and unused tax
\nlosses, to the extent that it is probable that taxable profit will be available against which the deductible temporary differences.
\nThe carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable
\nthat sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilised. Unrecognised deferred tax
\nassets are reassessed at each reporting date, and are recognised, to the extent that it has become probable that future taxable profits
\nwill allow the deferred tax asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected
\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n
\n
\n
\n\n
\n\nto apply in the year when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or
\nsubstantively enacted at the end of the reporting period.
\nDeferred tax relating to items recognised outside profit or loss is recognised outside profit or loss. Deferred tax items are recognised
\nin correlation to the underlying transaction, either in other comprehensive income or directly in equity.
\nDeferred tax assets and deferred tax liabilities are offset, if a legally enforceable right exists to set off current tax assets against
\ncurrent income tax liabilities, and the deferred taxes relate to the same taxable entity and the same taxation authority.
\n
\n\n\n\n\n
\n\n\n\n\n\n
\n\nProperty, plant and equipment
\nOffice/lab upgrades and equipment are stated at cost, net of accumulated depreciation and/or accumulated impairment losses, if
\nany. Such cost includes the cost of replacing parts of the facility upgrades and equipment. Repair and maintenance costs are
\nrecognised in the profit or loss as incurred. Refer to Significant accounting judgements, estimates and assumptions (Note 3).
\nDepreciation is calculated on a straight-line basis over the estimated useful lives of the assets, as follows:
\n\u2022 Leased building: The duration of the lease agreement
\n\u2022 Equipment: 3 to 5 years
\nAn item of office/lab upgrade and equipment is derecognised upon disposal, or when no future economic benefits are expected from
\nits use or disposal. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal
\nproceeds and the carrying amount of the asset) is included in the statement of profit or loss when the asset is derecognised.
\nThe residual values, useful lives and methods of depreciation of office/lab upgrade and equipment are reviewed at each financial
\nyear end, and adjusted prospectively, if appropriate.
\n
\n\n\n\n\n
\n\n\n\n\n\nLeases
\nThe Group assesses at contract inception whether a contract is, or contains, a lease.
\nGroup as a lessee
\nThe Group applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low-value
\nassets. The Group recognises lease liabilities to make lease payments and right-of-use assets representing the right to use the
\nunderlying assets.
\nRight-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any
\nremeasurement of lease liabilities.
\nRight-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the
\nassets, as follows:
\n\u2022 Office & lab lease, headquarter
\nThe right-of-use assets are also subject to an impairment assessment.
\nIn calculating the present value of the fixed lease payments, the Group uses its incremental borrowing rate at the lease
\ncommencement date because the interest rate implicit in the lease is not readily determinable.
\nThe Group applies the short-term lease recognition exemption to its short-term leases of office leases in Finland and China (i.e., those
\nleases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also
\napplies the lease of low-value assets recognition exemption to leases of office equipment that are considered to be low value. Lease
\npayments on short-term leases and leases of low value assets are recognised as expense on a straight-line basis over the lease term.
\n
\n\n\n\n\n\nIntangible assets
\nIntangible assets acquired separately, are measured on initial recognition at cost. Following initial recognition, intangible assets are
\ncarried at cost less accumulated amortisation and accumulated impairment losses, if any. Internally generated intangible assets,
\nexcluding capitalised development costs, are not capitalised, and expenditure is recognised in the statement of profit or loss when it
\nis incurred.
\n
\n\n\n\n\n
\n\n\n\n\n
\n
\n\n
\n
\nThe useful lives of intangible assets are assessed as either finite or indefinite.
\n\nDevelopment costs
\nResearch costs are expensed as incurred. Development expenditures on an individual project are recognised as an intangible asset
\nwhen the Group can demonstrate:
\n\u2022 The technical feasibility of completing the intangible asset, so that it will be available for use or sale
\n\u2022 Its intention to complete and its ability to use or sell the asset
\n\u2022 How the asset will generate future economic benefits
\n\u2022 The availability of resources to complete the asset
\n\u2022 The ability to measure reliably the expenditure during development
\nExpenses related to the development of the TLens\u00ae technology platform were recognised as an intangible asset with effect from
\n2015. The development project ended in 2019 when the initial mass production line was qualified. Since then, R&D resources have
\nbeen devoted primarily to improvement projects and helping customers to integrate TLens\u00ae into their products. Related costs have
\ntherefore not been recognised as an intangible asset.
\nThe company has also engaged in research/concept studies related to potential new products. However, as they have not met the
\ndefinition given above, they have not been defined as an intangible asset. This relates, for example, to the TWedge\u00ae \u2013 a potential
\nproduct for the enhancement of AR/MR display solutions.
\n
\n\n\n\n\n\nSoftware license
\nLicences for the use of intellectual property are granted for periods ranging between three and five years, depending on the specific
\nlicence.
\nA summary of the policies applied to the Group\u2019s intangible assets is as follows:
\n
\nSoftware licence
\nDevelopment costs
\nUseful lives
\nFinite (3-5 years)
\nFinite (3-7 years)
\nAmortisation method used
\nAmortised on a straight- line basis
\nover the lives of the licences
\nAmortised on a straight- line basis over
\nthe period of expected consumption of
\nfuture economic benefits from the
\nrelated project
\nInternally generated or acquired
\nAcquired
\nInternally generated
\n
\n\n\n\n\n
\n\n\n\n\n
\n\n
\n
\nFinancial instruments
\nA financial instrument is any contract that gives rise to a financial asset of one entity, and a financial liability or equity instrument of
\nanother entity.
\n\ni) Financial assets
\nThe Group\u00b4s financial assets are trade receivables, government grant receivables, accruals and cash.
\nTrade receivables are measured at the transaction price determined under IFRS 15 Revenue from contracts with customers. The
\nother financial assets are measured initially at fair value plus transaction costs.
\nSubsequently the assets are measured at amortised cost. Gains and losses are recognised in profit or loss when the asset is
\nderecognised, modified or impaired.
\n
\n\n\n\n\n\nii) Financial liabilities
\nFinancial liabilities are recognised initially at net of directly attributable transaction costs and subsequently measured at amortised
\ncost.
\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n
\n
\n
\n
\n\n
\n\nA financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires.
\n
\n\n\n\n\n
\n\n\n\n\n\n
\n\nImpairment of financial assets
\nFor trade receivables and contract assets, the Group applies a simplified approach in calculating expected credit losses (ECLs).
\nTherefore, the Group does not track changes in credit risk, but instead recognises a loss allowance based on lifetime ECLs at each
\nreporting date.
\n
\nA financial asset is written off when there is no reasonable expectation of recovering the contractual cash flows.
\n
\n\n\n\n\n
\n\n\n\n\n
\n\nInventories
\nInventories are valued at the lower of cost and net realisable value.
\nCosts incurred in bringing each product to its present location and condition, are accounted for as follows:
\nComponents:
\n\u2022 Purchase cost on a first-in, first-out basis
\nFinished goods and work in progress:
\n\u2022 Cost of direct materials and services from subcontractors
\nNet realisable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and the
\nestimated costs to sell. When determining the net realisable value, the Group assesses the provision for obsolescence. Customers\u2019
\ndemand and age are parameters that are considered when assessing this provision.
\n
\n\n\n\n\n\n
\n\nImpairment of non-financial assets
\nDisclosures relating to impairment of non-financial assets are summarised in the following notes:
\n\u2022 Disclosures of significant judgements and estimation uncertainty Note 3
\n\u2022 Property, plant and equipment Note 8
\n\u2022 Intangible assets Note 9
\n\u2022 Research and development costs Note 10
\nThe Group assesses at each reporting date whether there is an indication that an asset may be impaired. If any indication exists, or
\nwhen annual impairment testing for an asset is required, the Group estimates the asset\u2019s recoverable amount. An asset\u2019s recoverable
\namount is the higher of an asset\u2019s or Cash-Generating Unit (CGU)\u2019s fair value less costs of disposal and its value in use. The recoverable
\namount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those
\nfrom other assets, or groups of assets. Where the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is
\nconsidered impaired, and is written down to its recoverable amount.
\nIn assessing value in use, the estimated future cash flows are discounted to their present value, using a discount rate that reflects
\ncurrent market assessments of the time value of money and the risks specific to the asset. In determining fair value less costs of
\ndisposal, recent market transactions are taken into account. If no such transactions can be identified, an appropriate valuation model
\nis used.
\nValue in use impairment calculation is based on detailed budgets and forecasts and with use of scenario analyses. These budgets and
\nforecast calculations are generally covering a period of five years. A long-term growth rate is calculated and applied to project future
\ncash flows after the fifth year.
\nImpairment losses are recognised in the consolidated statement of comprehensive income.
\n
\n\n\n\n\n
\n\n\n\n\n
\n\nCash and short-term deposits
\nCash and short-term deposits in the statement of financial position comprise cash at banks and on hand, and short-term deposits
\nwith a maturity of three months or less, which are subject to an insignificant risk of changes in value.
\n
\n\n\n\n\n
\n\n\n\n\n
\n
\n
\n
\n\nFor the purpose of the consolidated statement cash flows, cash and cash equivalents consist of cash and short-term deposits as
\ndefined above, as they are considered an integral part of the Group\u2019s cash management.
\n
\n\n\n\n\n\nProvisions
\nThe Group\u2019s terms and conditions agreed with the customers contains a warranty clause. A general provision to meet potential claims
\nunder the clause have been recognised (Note 17 Provisions).
\n
\n\n\n\n\n\nPensions and other post-employment benefits
\nThe Group operates one defined contribution plan. Contributions are recognised in the statement of income in the period in which
\nthe contribution amounts are earned by the employee.
\n
\n\n\n\n\n\nShare option plans
\nEmployees (including senior executives) of the Group have received remuneration in the form of share options in poLight ASA (equity-
\nsettled transactions). The fair value of share options that are granted has been calculated using the Black-Scholes option pricing
\nmodel. The basis for the valuation comprises several factors that affect the calculated fair value of granted share options like the
\nshare price at the date of the grant, exercise price (strike), the likelihood of holding the share options to expiry date, risk-free interest
\nrate and the volatility that is deemed based on historic volatility of the poLight share.
\nThe cost of equity-settled transactions is recognised in employee benefits expense (Note 5.3 Employee benefits expense), together
\nwith a corresponding increase in equity (other equity) over the period in which the service and, where applicable, the performance
\nconditions are fulfilled (the vesting period). The cumulative expense recognised for equity-settled transactions at each reporting date
\nuntil the vesting date, reflects the extent to which the vesting period has expired, and the Group\u2019s best estimate of the number of
\nequity instruments that will ultimately vest. The share options expense recognised in the income statement includes accrued
\nemployer\u2019s national insurance contribution (\u201cNICs\u201d) expenses that are calculated based on the number of vested share options and
\na proportion of share options under vesting multiplied by the difference between market price and exercise price at the end for the
\nperiod. The NICs is accounted for as a cash settled element with a liability recognised in the consolidated statement of financial
\nposition. The expense in the consolidated statement of income for a period, represents the movement in cumulative expense
\nrecognised as at the beginning and end of that period.
\nThe dilutive effect of outstanding options is reflected as additional share dilution in the computation of diluted earnings per share
\n(further details are given in Note 7).
\n
\n\n\n\n\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag219": {
"value": "\n
\n
\n2.1 Basis of preparation
\n\nThe consolidated financial statements of the Group have been prepared in accordance with IFRS\u00ae Accounting Standards adopted by
\nthe EU.
\n
\n\n\n\n\n\n\nThe consolidated financial statements have been prepared on a historical cost basis. The consolidated financial statements are
\npresented in Norwegian kroner (NOK), and all values are rounded off to the nearest thousand (NOK 000), unless otherwise indicated.
\n
\n\n\n\n\n\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag220": {
"value": "\nThe consolidated financial statements of the Group have been prepared in accordance with IFRS\u00ae Accounting Standards adopted by
\nthe EU.
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:StatementOfIFRSCompliance",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag221": {
"value": "\nThe consolidated financial statements have been prepared on a historical cost basis. The consolidated financial statements are
\npresented in Norwegian kroner (NOK), and all values are rounded off to the nearest thousand (NOK 000), unless otherwise indicated.
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag222": {
"value": "\n2.2 Basis of consolidation
\nThe consolidated financial statements comprise the financial statements of poLight ASA and its subsidiaries.
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag225": {
"value": "\nRevenue from contracts with customers
\nThe group has two revenue streams:
\n\u2022 Sales of TLenses and related driver ASICs.
\nThe Group recognizes revenue from sale of TLenses and other components at the point in time when the control of goods is
\ntransferred to the customer at an amount that reflects the consideration to which the Group expects to be entitled in
\nexchange for those goods. Revenue is generally recognised on delivery of the goods.
\n\u2022 Non-recurring engineering (\u201cNRE\u201d) services related to customer development projects.
\nIn certain cases, when the counterparty to the contract is a customer or a potential customer, the Group will engage in
\ncustomer development projects financed by the customer. In general, income is recognised when the project is finalised
\naccording to the contract and the customer can obtain the benefits from the project. Revenue may be recognised over time
\nwhen one of the following criteria are met:
\n
\n\n\n\n\n\u2022 Customer consumes benefits as the Group performs the service
\n\u2022 Customer controls benefits as the Group performs the service
\nEarned revenue for the period is earned revenue at the reporting date, less earned revenue in prior periods. If the project is
\nongoing, income will be recognized continuously in accordance with the agreement, based on actual deliveries.
\nThe Group has for the periods presented limited sales and revenues. Further information on revenue recognition or disclosures
\naccording to IFRS 15 is consequently not relevant for these financial statements.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag226": {
"value": "\nForeign currencies
\nThe Group\u2019s consolidated financial statements are presented in Norwegian kroner (NOK), which is also the parent company\u2019s
\nfunctional currency. For each entity, the Group determines the functional currency, and items included in the financial statements of
\neach entity are measured using that functional currency. The Group uses the direct method of consolidation, and on disposal of a
\nforeign operation, the gain or loss that is reclassified to profit or loss reflects the amount that arises from using this method.
\nDifferences arising on settlement or translation of monetary items are recognised in profit or loss.
\nOn consolidation, the assets and liabilities of foreign operations are translated into NOK at the rate of exchange prevailing at the
\nreporting date, and the statement of profit or loss are translated at average monthly exchange rates. The exchange differences arising
\non the translation are recognised in OCI. Exchange differences arising from the translation of net investment in subsidiaries and
\nborrowings are included in OCI. At December 31, 2023 an intercompany subordinated loan to poLight France SAS of EUR 2,650,000 /
\nNOK 29,787,325 (2022: EUR 2,750,000 / NOK 28,912,950) was regarded as a part of the net investment in poLight France SAS.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag227": {
"value": "\nGovernment grants
\nGovernment grants are recognised when there is reasonable assurance that the grant will be received, and that all attached
\nconditions will be complied with. When the grant relates to an expense item, it is deducted from the related expense on a systematic
\nbasis over the periods that the costs, which it is intended to compensate, are expensed. Where the grant relates to an asset, it reduces
\nthe carrying amount of the asset. The grant is then recognised as income over the useful life of the depreciable asset, by way of a
\nreduced depreciation charge.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForGovernmentGrants",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag228": {
"value": "\n
\nTaxes
\nCurrent income tax
\nCurrent income tax assets and liabilities for the current period are measured at the amount expected to be recovered from or paid
\nto the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted, or substantively
\nenacted at the reporting date in the countries where the Group operates and generates taxable income.
\nManagement periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations
\nare subject to interpretation, and it establishes provisions where appropriate.
\n\nDeferred tax
\nDeferred tax is provided using the liability method on temporary differences between the tax bases of assets and liabilities, and their
\ncarrying amounts, for financial reporting purposes at the reporting date.
\nDeferred tax liabilities are recognised for all taxable temporary differences.
\nDeferred tax assets are recognised for: all deductible temporary differences: the carry forward of unused tax credits and unused tax
\nlosses, to the extent that it is probable that taxable profit will be available against which the deductible temporary differences.
\nThe carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable
\nthat sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilised. Unrecognised deferred tax
\nassets are reassessed at each reporting date, and are recognised, to the extent that it has become probable that future taxable profits
\nwill allow the deferred tax asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected
\n
\n\n\n\n\n
\n\n\n\n\n
\n\nto apply in the year when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or
\nsubstantively enacted at the end of the reporting period.
\nDeferred tax relating to items recognised outside profit or loss is recognised outside profit or loss. Deferred tax items are recognised
\nin correlation to the underlying transaction, either in other comprehensive income or directly in equity.
\nDeferred tax assets and deferred tax liabilities are offset, if a legally enforceable right exists to set off current tax assets against
\ncurrent income tax liabilities, and the deferred taxes relate to the same taxable entity and the same taxation authority.
\n
\n\n\n\n\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag229": {
"value": "\nDeferred tax
\nDeferred tax is provided using the liability method on temporary differences between the tax bases of assets and liabilities, and their
\ncarrying amounts, for financial reporting purposes at the reporting date.
\nDeferred tax liabilities are recognised for all taxable temporary differences.
\nDeferred tax assets are recognised for: all deductible temporary differences: the carry forward of unused tax credits and unused tax
\nlosses, to the extent that it is probable that taxable profit will be available against which the deductible temporary differences.
\nThe carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable
\nthat sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilised. Unrecognised deferred tax
\nassets are reassessed at each reporting date, and are recognised, to the extent that it has become probable that future taxable profits
\nwill allow the deferred tax asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected
\n
\n\n\n\n\nto apply in the year when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or
\nsubstantively enacted at the end of the reporting period.
\nDeferred tax relating to items recognised outside profit or loss is recognised outside profit or loss. Deferred tax items are recognised
\nin correlation to the underlying transaction, either in other comprehensive income or directly in equity.
\nDeferred tax assets and deferred tax liabilities are offset, if a legally enforceable right exists to set off current tax assets against
\ncurrent income tax liabilities, and the deferred taxes relate to the same taxable entity and the same taxation authority.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag230": {
"value": "\n
\n\nProperty, plant and equipment
\nOffice/lab upgrades and equipment are stated at cost, net of accumulated depreciation and/or accumulated impairment losses, if
\nany. Such cost includes the cost of replacing parts of the facility upgrades and equipment. Repair and maintenance costs are
\nrecognised in the profit or loss as incurred. Refer to Significant accounting judgements, estimates and assumptions (Note 3).
\nDepreciation is calculated on a straight-line basis over the estimated useful lives of the assets, as follows:
\n\u2022 Leased building: The duration of the lease agreement
\n\u2022 Equipment: 3 to 5 years
\nAn item of office/lab upgrade and equipment is derecognised upon disposal, or when no future economic benefits are expected from
\nits use or disposal. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal
\nproceeds and the carrying amount of the asset) is included in the statement of profit or loss when the asset is derecognised.
\nThe residual values, useful lives and methods of depreciation of office/lab upgrade and equipment are reviewed at each financial
\nyear end, and adjusted prospectively, if appropriate.
\n
\n\n\n\n\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag231": {
"value": "\nProperty, plant and equipment
\nOffice/lab upgrades and equipment are stated at cost, net of accumulated depreciation and/or accumulated impairment losses, if
\nany. Such cost includes the cost of replacing parts of the facility upgrades and equipment. Repair and maintenance costs are
\nrecognised in the profit or loss as incurred. Refer to Significant accounting judgements, estimates and assumptions (Note 3).
\nDepreciation is calculated on a straight-line basis over the estimated useful lives of the assets, as follows:
\n\u2022 Leased building: The duration of the lease agreement
\n\u2022 Equipment: 3 to 5 years
\nAn item of office/lab upgrade and equipment is derecognised upon disposal, or when no future economic benefits are expected from
\nits use or disposal. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal
\nproceeds and the carrying amount of the asset) is included in the statement of profit or loss when the asset is derecognised.
\nThe residual values, useful lives and methods of depreciation of office/lab upgrade and equipment are reviewed at each financial
\nyear end, and adjusted prospectively, if appropriate.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag232": {
"value": "\nLeases
\nThe Group assesses at contract inception whether a contract is, or contains, a lease.
\nGroup as a lessee
\nThe Group applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low-value
\nassets. The Group recognises lease liabilities to make lease payments and right-of-use assets representing the right to use the
\nunderlying assets.
\nRight-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any
\nremeasurement of lease liabilities.
\nRight-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the
\nassets, as follows:
\n\u2022 Office & lab lease, headquarter
\nThe right-of-use assets are also subject to an impairment assessment.
\nIn calculating the present value of the fixed lease payments, the Group uses its incremental borrowing rate at the lease
\ncommencement date because the interest rate implicit in the lease is not readily determinable.
\nThe Group applies the short-term lease recognition exemption to its short-term leases of office leases in Finland and China (i.e., those
\nleases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also
\napplies the lease of low-value assets recognition exemption to leases of office equipment that are considered to be low value. Lease
\npayments on short-term leases and leases of low value assets are recognised as expense on a straight-line basis over the lease term.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag233": {
"value": "\nIntangible assets
\nIntangible assets acquired separately, are measured on initial recognition at cost. Following initial recognition, intangible assets are
\ncarried at cost less accumulated amortisation and accumulated impairment losses, if any. Internally generated intangible assets,
\nexcluding capitalised development costs, are not capitalised, and expenditure is recognised in the statement of profit or loss when it
\nis incurred.
\n
\n\n\n\n\n
\n
\nThe useful lives of intangible assets are assessed as either finite or indefinite.
\n\nDevelopment costs
\nResearch costs are expensed as incurred. Development expenditures on an individual project are recognised as an intangible asset
\nwhen the Group can demonstrate:
\n\u2022 The technical feasibility of completing the intangible asset, so that it will be available for use or sale
\n\u2022 Its intention to complete and its ability to use or sell the asset
\n\u2022 How the asset will generate future economic benefits
\n\u2022 The availability of resources to complete the asset
\n\u2022 The ability to measure reliably the expenditure during development
\nExpenses related to the development of the TLens\u00ae technology platform were recognised as an intangible asset with effect from
\n2015. The development project ended in 2019 when the initial mass production line was qualified. Since then, R&D resources have
\nbeen devoted primarily to improvement projects and helping customers to integrate TLens\u00ae into their products. Related costs have
\ntherefore not been recognised as an intangible asset.
\nThe company has also engaged in research/concept studies related to potential new products. However, as they have not met the
\ndefinition given above, they have not been defined as an intangible asset. This relates, for example, to the TWedge\u00ae \u2013 a potential
\nproduct for the enhancement of AR/MR display solutions.
\n
\n\n\n\n\n\nSoftware license
\nLicences for the use of intellectual property are granted for periods ranging between three and five years, depending on the specific
\nlicence.
\nA summary of the policies applied to the Group\u2019s intangible assets is as follows:
\n
\nSoftware licence
\nDevelopment costs
\nUseful lives
\nFinite (3-5 years)
\nFinite (3-7 years)
\nAmortisation method used
\nAmortised on a straight- line basis
\nover the lives of the licences
\nAmortised on a straight- line basis over
\nthe period of expected consumption of
\nfuture economic benefits from the
\nrelated project
\nInternally generated or acquired
\nAcquired
\nInternally generated
\n
\n\n\n\n\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag234": {
"value": "\nDevelopment costs
\nResearch costs are expensed as incurred. Development expenditures on an individual project are recognised as an intangible asset
\nwhen the Group can demonstrate:
\n\u2022 The technical feasibility of completing the intangible asset, so that it will be available for use or sale
\n\u2022 Its intention to complete and its ability to use or sell the asset
\n\u2022 How the asset will generate future economic benefits
\n\u2022 The availability of resources to complete the asset
\n\u2022 The ability to measure reliably the expenditure during development
\nExpenses related to the development of the TLens\u00ae technology platform were recognised as an intangible asset with effect from
\n2015. The development project ended in 2019 when the initial mass production line was qualified. Since then, R&D resources have
\nbeen devoted primarily to improvement projects and helping customers to integrate TLens\u00ae into their products. Related costs have
\ntherefore not been recognised as an intangible asset.
\nThe company has also engaged in research/concept studies related to potential new products. However, as they have not met the
\ndefinition given above, they have not been defined as an intangible asset. This relates, for example, to the TWedge\u00ae \u2013 a potential
\nproduct for the enhancement of AR/MR display solutions.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag235": {
"value": "\nSoftware license
\nLicences for the use of intellectual property are granted for periods ranging between three and five years, depending on the specific
\nlicence.
\nA summary of the policies applied to the Group\u2019s intangible assets is as follows:
\n
\nSoftware licence
\nDevelopment costs
\nUseful lives
\nFinite (3-5 years)
\nFinite (3-7 years)
\nAmortisation method used
\nAmortised on a straight- line basis
\nover the lives of the licences
\nAmortised on a straight- line basis over
\nthe period of expected consumption of
\nfuture economic benefits from the
\nrelated project
\nInternally generated or acquired
\nAcquired
\nInternally generated
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForProgrammingAssetsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag236": {
"value": "\n
\n
\nFinancial instruments
\nA financial instrument is any contract that gives rise to a financial asset of one entity, and a financial liability or equity instrument of
\nanother entity.
\n\ni) Financial assets
\nThe Group\u00b4s financial assets are trade receivables, government grant receivables, accruals and cash.
\nTrade receivables are measured at the transaction price determined under IFRS 15 Revenue from contracts with customers. The
\nother financial assets are measured initially at fair value plus transaction costs.
\nSubsequently the assets are measured at amortised cost. Gains and losses are recognised in profit or loss when the asset is
\nderecognised, modified or impaired.
\n
\n\n\n\n\n\nii) Financial liabilities
\nFinancial liabilities are recognised initially at net of directly attributable transaction costs and subsequently measured at amortised
\ncost.
\n
\n\n\n\n\n
\n\n\n\n\n
\n\nA financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires.
\n
\n\n\n\n\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag237": {
"value": "\ni) Financial assets
\nThe Group\u00b4s financial assets are trade receivables, government grant receivables, accruals and cash.
\nTrade receivables are measured at the transaction price determined under IFRS 15 Revenue from contracts with customers. The
\nother financial assets are measured initially at fair value plus transaction costs.
\nSubsequently the assets are measured at amortised cost. Gains and losses are recognised in profit or loss when the asset is
\nderecognised, modified or impaired.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag238": {
"value": "\nii) Financial liabilities
\nFinancial liabilities are recognised initially at net of directly attributable transaction costs and subsequently measured at amortised
\ncost.
\n
\n\n\n\n\nA financial liability is derecognised when the obligation under the liability is discharged or cancelled or expires.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag239": {
"value": "\n
\n\nImpairment of financial assets
\nFor trade receivables and contract assets, the Group applies a simplified approach in calculating expected credit losses (ECLs).
\nTherefore, the Group does not track changes in credit risk, but instead recognises a loss allowance based on lifetime ECLs at each
\nreporting date.
\n
\nA financial asset is written off when there is no reasonable expectation of recovering the contractual cash flows.
\n
\n\n\n\n\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag240": {
"value": "\nImpairment of financial assets
\nFor trade receivables and contract assets, the Group applies a simplified approach in calculating expected credit losses (ECLs).
\nTherefore, the Group does not track changes in credit risk, but instead recognises a loss allowance based on lifetime ECLs at each
\nreporting date.
\n
\nA financial asset is written off when there is no reasonable expectation of recovering the contractual cash flows.
\n
\n\n\n\n\nImpairment of non-financial assets
\nDisclosures relating to impairment of non-financial assets are summarised in the following notes:
\n\u2022 Disclosures of significant judgements and estimation uncertainty Note 3
\n\u2022 Property, plant and equipment Note 8
\n\u2022 Intangible assets Note 9
\n\u2022 Research and development costs Note 10
\nThe Group assesses at each reporting date whether there is an indication that an asset may be impaired. If any indication exists, or
\nwhen annual impairment testing for an asset is required, the Group estimates the asset\u2019s recoverable amount. An asset\u2019s recoverable
\namount is the higher of an asset\u2019s or Cash-Generating Unit (CGU)\u2019s fair value less costs of disposal and its value in use. The recoverable
\namount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those
\nfrom other assets, or groups of assets. Where the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is
\nconsidered impaired, and is written down to its recoverable amount.
\nIn assessing value in use, the estimated future cash flows are discounted to their present value, using a discount rate that reflects
\ncurrent market assessments of the time value of money and the risks specific to the asset. In determining fair value less costs of
\ndisposal, recent market transactions are taken into account. If no such transactions can be identified, an appropriate valuation model
\nis used.
\nValue in use impairment calculation is based on detailed budgets and forecasts and with use of scenario analyses. These budgets and
\nforecast calculations are generally covering a period of five years. A long-term growth rate is calculated and applied to project future
\ncash flows after the fifth year.
\nImpairment losses are recognised in the consolidated statement of comprehensive income.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag241": {
"value": "\nInventories
\nInventories are valued at the lower of cost and net realisable value.
\nCosts incurred in bringing each product to its present location and condition, are accounted for as follows:
\nComponents:
\n\u2022 Purchase cost on a first-in, first-out basis
\nFinished goods and work in progress:
\n\u2022 Cost of direct materials and services from subcontractors
\nNet realisable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and the
\nestimated costs to sell. When determining the net realisable value, the Group assesses the provision for obsolescence. Customers\u2019
\ndemand and age are parameters that are considered when assessing this provision.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag242": {
"value": "\n
\n\nImpairment of non-financial assets
\nDisclosures relating to impairment of non-financial assets are summarised in the following notes:
\n\u2022 Disclosures of significant judgements and estimation uncertainty Note 3
\n\u2022 Property, plant and equipment Note 8
\n\u2022 Intangible assets Note 9
\n\u2022 Research and development costs Note 10
\nThe Group assesses at each reporting date whether there is an indication that an asset may be impaired. If any indication exists, or
\nwhen annual impairment testing for an asset is required, the Group estimates the asset\u2019s recoverable amount. An asset\u2019s recoverable
\namount is the higher of an asset\u2019s or Cash-Generating Unit (CGU)\u2019s fair value less costs of disposal and its value in use. The recoverable
\namount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those
\nfrom other assets, or groups of assets. Where the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is
\nconsidered impaired, and is written down to its recoverable amount.
\nIn assessing value in use, the estimated future cash flows are discounted to their present value, using a discount rate that reflects
\ncurrent market assessments of the time value of money and the risks specific to the asset. In determining fair value less costs of
\ndisposal, recent market transactions are taken into account. If no such transactions can be identified, an appropriate valuation model
\nis used.
\nValue in use impairment calculation is based on detailed budgets and forecasts and with use of scenario analyses. These budgets and
\nforecast calculations are generally covering a period of five years. A long-term growth rate is calculated and applied to project future
\ncash flows after the fifth year.
\nImpairment losses are recognised in the consolidated statement of comprehensive income.
\n
\n\n\n\n\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag243": {
"value": "\nCash and short-term deposits
\nCash and short-term deposits in the statement of financial position comprise cash at banks and on hand, and short-term deposits
\nwith a maturity of three months or less, which are subject to an insignificant risk of changes in value.
\n
\n\n\n\n\nFor the purpose of the consolidated statement cash flows, cash and cash equivalents consist of cash and short-term deposits as
\ndefined above, as they are considered an integral part of the Group\u2019s cash management.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag244": {
"value": "\nProvisions
\nThe Group\u2019s terms and conditions agreed with the customers contains a warranty clause. A general provision to meet potential claims
\nunder the clause have been recognised (Note 17 Provisions).
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag245": {
"value": "\nPensions and other post-employment benefits
\nThe Group operates one defined contribution plan. Contributions are recognised in the statement of income in the period in which
\nthe contribution amounts are earned by the employee.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag246": {
"value": "\nShare option plans
\nEmployees (including senior executives) of the Group have received remuneration in the form of share options in poLight ASA (equity-
\nsettled transactions). The fair value of share options that are granted has been calculated using the Black-Scholes option pricing
\nmodel. The basis for the valuation comprises several factors that affect the calculated fair value of granted share options like the
\nshare price at the date of the grant, exercise price (strike), the likelihood of holding the share options to expiry date, risk-free interest
\nrate and the volatility that is deemed based on historic volatility of the poLight share.
\nThe cost of equity-settled transactions is recognised in employee benefits expense (Note 5.3 Employee benefits expense), together
\nwith a corresponding increase in equity (other equity) over the period in which the service and, where applicable, the performance
\nconditions are fulfilled (the vesting period). The cumulative expense recognised for equity-settled transactions at each reporting date
\nuntil the vesting date, reflects the extent to which the vesting period has expired, and the Group\u2019s best estimate of the number of
\nequity instruments that will ultimately vest. The share options expense recognised in the income statement includes accrued
\nemployer\u2019s national insurance contribution (\u201cNICs\u201d) expenses that are calculated based on the number of vested share options and
\na proportion of share options under vesting multiplied by the difference between market price and exercise price at the end for the
\nperiod. The NICs is accounted for as a cash settled element with a liability recognised in the consolidated statement of financial
\nposition. The expense in the consolidated statement of income for a period, represents the movement in cumulative expense
\nrecognised as at the beginning and end of that period.
\nThe dilutive effect of outstanding options is reflected as additional share dilution in the computation of diluted earnings per share
\n(further details are given in Note 7).
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag223": {
"value": "\n3 Significant accounting judgements and key sources of estimation uncertainty
\n3.1 Significant judgements in applying the Group\u2019s accounting policies
\nThe following summarizes the most significant judgements used in preparing the consolidated financial statements.
\nShare option plans
\nEstimating fair value for share option plans transactions requires determination of the most appropriate valuation model, which
\ndepends on the terms and conditions of the grant. This estimate also requires determination of the most appropriate inputs to the
\nvaluation model, including the expected life of the share option, volatility and dividend yield, and assumptions about the inputs.
\nFor determining the fair value of equity-settled transactions with employees at the grant date, the Group uses the Black-Scholes
\noption pricing model. The assumptions and models used for estimating fair value for share-based payment transactions are disclosed
\nin Note 5.3 Employee benefits expense.
\nDevelopment costs
\nInitial capitalisation of costs is based on management\u2019s assessment that technological and economic feasibility is likely, usually when
\na product development project has reached a defined milestone, according to an established project management model. Cost of
\nmaterial used in manufacturing line until status of \u201cmass production\u201d is achieved is recognised as development costs to the extent
\n
\n\n\n\n\nthat it is not sellable parts. In determining the amounts to be capitalised, management makes assumptions regarding the expected
\nfuture cash generation of the project, discount rates to be applied, and the expected period of benefits.
\nImpairment of non-financial assets
\nThe management has evaluated that the group as a whole is one cash generating unit (CGU) for impairment testing, see note 10.
\nJudgements are required to determine if impairment indicators are present. During 2023, no impairment indicators have been
\nidentified, and no impairment test has been performed. As the group as a whole is one CGU, the market capitalisation based on the
\ncompany\u2019s share price is both one of the impairment indicators and basis for estimating fair value less cost of sales if an impairment
\ntest should be performed. See Note 10 Development costs for further details. See also note 3.2. below.
\n3.2 Key sources of estimation uncertainty \u2013 significant accounting estimates
\nThe preparation of poLight\u2019s consolidated financial statements requires the use of accounting estimates. These estimates affect the
\nreported amounts of assets, liabilities, income and expenses, and the accompanying disclosures. Accounting estimates and
\nassumptions, which are continuously reviewed, are based on historical experience and various other factors that are believed to be
\nreasonable and appropriate under the circumstances. Uncertainty about these estimates and assumptions could result in outcomes
\nthat require a material adjustment to the carrying amount of assets or liabilities affected in future periods.
\nThe following summarizes the most significant estimates used in preparing the consolidated financial statements.
\nProvision for obsolescence
\nWhen estimating net realisable value of the inventory the Group assesses the provision for obsolescence. Customers\u2019 demand,
\nexpected sales prices obtainable in the market and age are parameters that are considered when assessing this provision. Customers\u2019
\ndemand for each product and each variant of the products are determined based on feedback from customers using the TLens\u00ae in
\nreleased products as well as completed and ongoing PoC\u2019s. Specifically, poLight has made provision on most of the first generation
\nof the TLenses as it most likely is not addressable to the smart phone market or other mass market products as was intended originally
\nwhen the wafers were produced. In addition, a general provision has been made for aging of wafers. As there have been limited sales
\nvolumes to date, the provisions made are subject to significant estimation uncertainty.
\nThe provision is disclosed in Note 12 Inventories.
\nImpairment of non-financial assets
\nAs described in note 3.1 and note 10 Development costs, the Group has not performed an impairment test during 2023, among other
\nthings with reference to its market capitalisation. The market capitalisation at 31 December 2023 materially exceeded the carrying
\namount of equity. The share price has in the first quarter of 2024 declined materially, especially following the announcement of the
\npreferential rights issue to be carried out, but market capitalisation at the end of the first quarter 2024 was still above the carrying
\namount of equity at 31 December 2023. If the market capitalisation should decline below the carrying amount of equity, or other
\nimpairment indicators are present, the Group would have to perform an impairment test, which could result in an impairment charge
\nbeing recognised.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag247": {
"value": "\n4 Segment information
\nThe Group has only one operating segment \u2013 the TLens\u00ae technology platform, consistent with the reporting to the CEO and the
\nBoard.
\npoLight\u2019s product TLens\u00ae may be used in devices such as smartphones, wearables, barcode, machine vision systems and various
\nmedical equipment. poLight's TLens\u00ae enables better system performance and new user experiences due to benefits such as extremely
\nfast focus, small footprint, no magnetic interference, low power consumption and constant field of view.
\n
\n\n\n\n\n
\n\nGeographical distribution
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n Revenue
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\nAmerica
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n5 990
\n2 198
\nAsia
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n11 818
\n6 222
\nEurope
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 702
\n4 943
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n22 511
\n13 363
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nGeographical distribution
\n
\nRight-of-use assets
\nMachinery & equipment
\nDevelopment costs
\n(in NOK 000)
\n
\n
\n
\n
\n2023
\n2022
\n2023
\n2022
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNorway
\n
\n
\n
\n
\n
\n2 915
\n3 871
\n1 947
\n2 689
\n17 580
\n24 855
\nFrance
\n
\n
\n
\n
\n
\n0
\n0
\n9
\n21
\n0
\n0
\nFinland
\n
\n
\n
\n
\n
\n0
\n0
\n61
\n50
\n0
\n0
\nTaiwan
\n
\n
\n
\n
\n
\n0
\n0
\n30
\n1 490
\n0
\n0
\nThe Philippines
\n
\n
\n
\n0
\n0
\n7 176
\n6 461
\n0
\n0
\nChina
\n
\n
\n
\n
\n
\n
\n0
\n0
\n16
\n36
\n0
\n0
\nTotal
\n
\n
\n
\n
\n
\n
\n2 915
\n3 871
\n9 239
\n10 748
\n17 580
\n24 855
\nAll patents and most of the economic IP (intellectual property) is owned by parent company based in Norway. A sales office has been
\nestablished in China, with a parent holding company in Hong Kong.
\n
\n\n\n\n\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag248": {
"value": "\nGeographical distribution
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n Revenue
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\nAmerica
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n5 990
\n2 198
\nAsia
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n11 818
\n6 222
\nEurope
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 702
\n4 943
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n22 511
\n13 363
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nGeographical distribution
\n
\nRight-of-use assets
\nMachinery & equipment
\nDevelopment costs
\n(in NOK 000)
\n
\n
\n
\n
\n2023
\n2022
\n2023
\n2022
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNorway
\n
\n
\n
\n
\n
\n2 915
\n3 871
\n1 947
\n2 689
\n17 580
\n24 855
\nFrance
\n
\n
\n
\n
\n
\n0
\n0
\n9
\n21
\n0
\n0
\nFinland
\n
\n
\n
\n
\n
\n0
\n0
\n61
\n50
\n0
\n0
\nTaiwan
\n
\n
\n
\n
\n
\n0
\n0
\n30
\n1 490
\n0
\n0
\nThe Philippines
\n
\n
\n
\n0
\n0
\n7 176
\n6 461
\n0
\n0
\nChina
\n
\n
\n
\n
\n
\n
\n0
\n0
\n16
\n36
\n0
\n0
\nTotal
\n
\n
\n
\n
\n
\n
\n2 915
\n3 871
\n9 239
\n10 748
\n17 580
\n24 855
\nAll patents and most of the economic IP (intellectual property) is owned by parent company based in Norway. A sales office has been
\nestablished in China, with a parent holding company in Hong Kong.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag249": {
"value": "\n
\n\n
\n\n
\n\n
\n\n
\n5 Other income/expenses
\n\n5.1 Specification of Cost of Sales
\n (in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNote
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWafer and assembly production cost, outsourced
\n
\n
\n
\n
\n
\n
\n7 556
\n4 490
\nCustomer customisations, employee expense
\n
\n
\n
\n
\n
\n
\n5.3
\n248
\n0
\nFinal testing, employee expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n5.3
\n871
\n0
\nDepreciation of final testing equipment
\n
\n
\n
\n
\n
\n
\n
\n
\n8
\n264
\n0
\nChange in inventory obsolescence provision
\n
\n
\n
\n
\n
\n
\n
\n12
\n1 410
\n336
\nTotal Cost of Sales
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 349
\n4 826
\n
\n\n\n\n\n5.2 Specification of operating expenses by nature
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNote
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nEmployee benefits expense
\n1)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n5.3
\n68 725
\n45 614
\nDepreciation and amortisation
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n9 670
\n10 400
\nOther operating expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n22 258
\n21 663
\nTotal operating expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n100 653
\n77 676
\n
\n1) Including consultants engaged on long-term contracts
\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n
\n\n
\n\n
\n\n
\n\n
\n\n
\n5.3 Employee benefits expense
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\nIncluded in Research and development expenses:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWages and salaries
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 616
\n10 533
\nConsultants engaged on long-term contracts
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 108
\n8 540
\nSocial security costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 087
\n1 935
\nPension costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n516
\n554
\nOther benefits and social costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n363
\n422
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 053
\n893
\nGrants
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-495
\n-802
\nIncluded in Sales and marketing expenses:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWages and salaries
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n5 054
\n3 354
\nConsultants engaged on long-term contracts
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n6 297
\n3 292
\nSocial security costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n993
\n616
\nPension costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n246
\n176
\nOther benefits and social costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n173
\n135
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 976
\n1 883
\n
\nIncluded in Operational / supply chain expenses:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWages and salaries
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 141
\n1 679
\nConsultants engaged on long-term contracts
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n6 194
\n3 574
\nSocial security costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n421
\n308
\nPension costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n104
\n88
\nOther benefits and social costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n73
\n67
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 188
\n466
\nIncluded in Administrative expenses:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWages and salaries
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 631
\n8 770
\nConsultants engaged on long-term contract
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n238
\n80
\nSocial security costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 090
\n1 611
\nPension costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n516
\n461
\nOther benefits and social costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n363
\n352
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n3 779
\n-3 375
\nTotal employee benefits expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n68 725
\n45 614
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAverage number of man-years, employees
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n23
\n23
\nAverage number of man-years, total
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n38
\n35
\n
\nBonus program
\nAll employees are included in a cash bonus programme, with identical bonus criteria for all employees except the CEO. The bonus is
\ncalculated based on fixed salary, with maximum (for the period 2022-2023) 50% for the CEO, 30% for the other members of the
\nExecutive Management Team, 20% for department managers and 10% for other employees. With effect from 2024 the maximum
\nbonus is 80% for the CEO, 40% for the other members of the Executive Management Team, 20% for department managers and 10%
\nfor other employees. The bonus costs are included in \u201cWages and salaries\u201d and \u201cConsultants engaged on long-term contracts\u201d.
\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n
\n\n
\n\n
\n\n
\n\n
\n\n
\nPensions
\npoLight ASA (the Group\u2019s Norwegian company) is subject to the requirements of the Mandatory Occupational Pensions Act, and the
\ncompany\u2019s pension scheme follows the requirements of the Act. As the subsidiaries in France, Finland and China are not subject to
\nmandatory pension schemes in addition to the national insurance schemes, no pension scheme has been established there.
\nThe pension scheme in Norway is based on a defined contribution plan, and the premium is calculated on the basis of the employees\u2019
\nincome. In 2022 and 2023, 7% of the salary between 0G (1G=NOK 118,620) and 7.1G, and 15% of the salary between 7.1G and 12G
\nwas calculated. The period\u2019s contributions are recognised in the Consolidated statement of income.
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nDefined contribution plan
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 299
\n1 195
\nSocial security tax
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n183
\n168
\nTotal pension cost
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 483
\n1 363
\n
\n\nShare option plans (equity-settled)
\nShare options in the parent company are granted to all employees. The exercise price of the share options is equal to, or higher than,
\nthe market price of the underlying shares on the date of grant. The company have two programs.
\nProgram 1: The share options in each agreement are vested over 3 years, and exercisable with 1/36 each month over 3 years,
\nat the expiry of each calendar month, starting at the date of grant. The company is liable for corporate taxes including National
\nInsurance up to 20%.
\nProgram 2: The share options in each agreement are vested over 3 years, and exercisable when fully vested. The employee
\ncovers all corporate taxes including National Insurance.
\nBoth programs are conditional on the employee\u2019s continued employment in poLight.
\nThe share options can be exercised up to two years after the three-year vesting period. Exercisable share options may as a general
\nrule, be exercised and shares issued once per quarter each following the release of poLight ASA\u2019s quarterly reports.
\nShare option expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n8 101
\n4 821
\nEmployer\u2019s national insurance contribution
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 894
\n-4 953
\nRecognised as employee benefits expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n9 996
\n-133
\n
\nThe share options expense includes accrued employer\u2019s national insurance contribution expenses that are calculated based on the
\nnumber of vested share options and a proportion of share options under vesting multiplied by the difference between market price
\nand exercise price at the end for the period.
\nThe board is authorised to issue additional shares - in share option scheme - up to total par value of NOK 264,653 (6,616,322 shares
\nat par value of NOK 0.04).
\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n
\n\n
\n\n
\n\n
\n\n
\n\n
\n\nOutstanding share options at December 31, 2023
\nYear
\ngranted
\nAverage Exercise
\nprice (NOK)
\nOutstanding no.
\nof share options
\nExercisable no.
\nof share options
\nRemaining
\ncontractual life
\n(years)
\nTotal expensed
\n(in NOK 000)
\nRemaining
\nestimated expense
\n(in NOK 000)
\n2018
\n10.00
\n1 602 710
\n1 602 710
\n1.49
\n8 588
\n0
\n2019
\n3.78
\n185 545
\n185 545
\n0.47
\n375
\n0
\n2019
\n5.40
\n231 655
\n231 655
\n0.47
\n303
\n0
\n2019
\n6.75
\n323 460
\n323 460
\n0.47
\n262
\n0
\n2020
\n14.98
\n948 335
\n948 335
\n1.67
\n6 482
\n0
\n2021
\n22.80
\n17 361
\n17 361
\n0.33
\n7 332
\n1 402
\n2022
\n21.00
\n0
\n0
\n0
\n1 110
\n525
\n2023
\n21.26
\n1 470 000
\n117 500
\n4.70
\n1 667
\n5 879
\n2023
\n12.82
\n800 000
\n71 556
\n4.75
\n685
\n1 405
\nTotal
\n
\n5 579 066
\n3 498 122
\n
\n26 804
\n9 211
\n
\nThe terms of the stock options imply that exercise windows for exercising stock options shall be opened, normally each quarter after
\nthe presentation of quarterly reports. Throughout the term of these options, the Board has on several occasions not been able to
\nopen such exercise windows. The Board therefore extended the term of previously granted options for a period equivalent to the
\nperiod of exercise windows that have not been opened, or subject to lock-up arrangements. The 1.6 million share options issued in
\n2018 originally expired in October 2023, but was extended by board resolution in August 2023 with 9 months for all share option
\nholders. Additional 6 months extension applied for the share options held by CTO, COO and CFO and additional 18 months extension
\napplied for the share options held by CEO. Fair value of the extended date of exercise was measured using the Black-Scholes option
\npricing model. The fair value was measured to NOK 2.4 million being the difference between i) Fair value of the original scheme
\nmeasured at the time of change of expiry date and ii) Fair value of updated scheme measured at time of change of expiry date. Since
\nthe share options was all vested at the date of the extension all the expense has been recognised in 2023.
\nThe board also offered a replacement share option agreement (after cancellation) to those how got share options at strike 22.80
\n(2021) and 21.00 (2022). 800,000 share options were cancelled and replaced with a new share option agreement at strike 12.82. The
\nfair value of the new share options was measured to NOK 2.1 million net after reduction of the fair value of the cancelled share
\noptions.
\n
\nReconciliation of outstanding share options
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n
\n
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNumber of
\nshare options
\nWAEP
\n
\n
\nNumber of
\nshare options
\nWAEP
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nOutstanding at 1 January
\n
\n
\n
\n
\n
\n
\n4 238 646
\n12.9
\n
\n
\n4 045 865
\n12.4
\nGranted during the year
\n
\n
\n
\n
\n
\n
\n2 270 000
\n12.5
\n
\n
\n220 000
\n21.0
\nForfeited during the year
\n
\n
\n
\n
\n
\n
\n-65 556
\n22.1
\n
\n
\n0
\n
\nCancelled during the year
\n
\n
\n
\n
\n
\n
\n-800 000
\n22.4
\n
\n
\n0
\n
\nExercised during the year
\n
\n
\n
\n
\n
\n
\n-48 330
\n5.9
\n
\n
\n-27 221
\n9.4
\nExpired during the year
\n
\n
\n
\n
\n
\n
\n
\n-15 693
\n14.9
\n
\n
\n0
\n
\nOutstanding at 31 December
\n
\n
\n
\n
\n
\n
\n5 579 066
\n11.3
\n
\n
\n4 238 646
\n12.9
\nIn % of outstanding shares
\n
\n
\n
\n
\n
\n
\n8.43 %
\n
\n
\n
\n8.16 %
\n
\nExercisable at 31 December
\n
\n
\n
\n
\n
\n3 498 122
\n10.6
\n
\n
\n3 275 312
\n10.6
\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n
\n\n
\n\n
\n\n
\n\n
\n\n
\n\nThe weighted average exercise price (WAEP) for the share options exercised during 2022 was NOK 5.9 (2022: NOK 9.4), and the
\naverage market price at the exercise dates was NOK 12.27 (2022: NOK 25.1).
\nThe weighted average exercise price for the share options outstanding as at 31 December 2023, was NOK 11.3 (2022: NOK 12.9) with
\na range from NOK 3.78 to NOK 22.80. The weighted average remaining contractual life for the share options outstanding as at 31
\nDecember 2023 was 2.69 years (2022: 2.01 years).
\nAt the end of the year, the weighted average exercise price was NOK 10.6 (2022: NOK 10.6) on exercisable options.
\nIn the case of an offeror becomes the owner of at least 9/10 of the issued shares of poLight, all of the unvested share options becomes
\nimmediately vested.
\n
\nShare option valuation
\nThe fair value of the options granted in 2023 has been calculated to NOK 7.5 million excluding social security expenses (2022: NOK
\n1.8 million), by using the Black-Scholes option pricing model.
\nThe basis for the valuation comprises several factors that affect the calculated fair value of granted options. The assumptions used
\nin the calculation was:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nProgram 1
\nProgram 2
\nProgram 1
\nProgram 2
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nPrice at grant date
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNOK 12.15
\nNOK 12.15
\nNOK 20.05
\nNOK 20.05
\nExercise price
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNOK 12.15
\nNOK 12.15
\nNOK 21
\nNOK 21
\nMaximum
\n1)
\n option life
\n
\n
\n
\n
\n
\n
\n
\n5 years
\n5 years
\n5 years
\n5 years
\nAssumed option life
\n2)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2.5 years
\n4 years
\n2.5 years
\n4 years
\nRisk-free interest rate
\n
\n
\n
\n
\n
\n
\n
\n
\n4.1%
\n4.1%
\n3.26%
\n3.26%
\nVolatility
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n60 %
\n60 %
\n60 %
\n60 %
\nFair value per share option
\n
\n
\n
\n
\n
\n
\nNOK 4.8
\nNOK 6.0
\nNOK 7.5
\nNOK 9.5
\n
\n1) The share options expire 5 years from the date of the grant, but any vested options shall be exercised no later than 6
\nmonths after last day of service.
\n2) The option life reflects the vesting time plus one year.
\n
\nExpected vesting is estimated based on employee turnover, and volatility is deemed based on historic volatility.
\n
\nSensitivity analysis
\nThe fair value of the share options granted in 2023 of NOK 7.5 million was determined based on an assumption of a volatility of 60%.
\nAt a volatility of 80%, holding other assumptions constants, would have increased the fair value with NOK 1.9 million over the vesting
\nperiod. A decrease in the assumed lifetime of the share options with 1 year, would have decreased the fair value with NOK 1.4 million
\nover the vesting period.
\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n
\n\n
\n\n
\n\n
\n
\n\n5.4 Research and development expenses
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nEmployee benefits expense (incl. consultants)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n25 743
\n22 878
\nOther operating expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 990
\n14 922
\nGovernment grants
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-2 117
\n-4 892
\nCapitalized
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n0
\n0
\nTotal Research and development expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n34 616
\n32 907
\n
\nResearch and development costs that are not eligible for capitalisation have been expensed in the period incurred and are recognised
\nas Research and development expenses.
\nR&D costs that are expensed, includes R&D management, patents, improvements of the TLens (see Note 14 Government grants),
\nfeasibility study of new concepts, software license and costs related to integration of TLens in new customer applications/products.
\nNone of the activities were eligible for capitalisation during 2023 and 2022 since these have so far been in an early phase from an
\nR&D point of view.
\n
\n\n\n\n\n\n\n\n5.5 Sales and marketing expenses
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nEmployee benefits expense (incl. consultants)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n14 739
\n9 457
\nOther operating expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 973
\n3 666
\nTotal Sales and marketing expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n17 712
\n13 122
\n5.6 Operational/supply chain expenses
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nEmployee benefits expense (incl. consultants)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n11 121
\n6 182
\nOther operating expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n5 563
\n2 997
\nTotal Operational / supply chain expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n16 684
\n9 179
\n\n5.7 Administrative expenses
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nEmployee benefits expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n17 617
\n7 900
\nOther operating expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 347
\n4 168
\nTotal Administrative expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n21 964
\n12 068
\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n
\n\n
\n
\n\n5.8 Auditor's remuneration
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAudit fee
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 528
\n798
\nAudit related fee
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n309
\n34
\nTax fee
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n66
\n30
\nOther service fee
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n128
\n68
\nTotal Auditor's remuneration
\n(excluding VAT)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 031
\n930
\n
\n\n\n\n\n\n\n\n\n
\n\n
\n\n
\n\n
\n\n
\n\n5.9 Financial items
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nInterest income
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 518
\n2 249
\nFinance income
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 518
\n2 249
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNet foreign exchange losses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 020
\n385
\nInterest expense on lease liabilities
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n259
\n330
\nFinance expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n16
\n38
\nFinance cost
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 295
\n753
\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag250": {
"value": "\n
\n\n
\n\n
\n\n
\n5 Other income/expenses
\n\n5.1 Specification of Cost of Sales
\n (in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNote
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWafer and assembly production cost, outsourced
\n
\n
\n
\n
\n
\n
\n7 556
\n4 490
\nCustomer customisations, employee expense
\n
\n
\n
\n
\n
\n
\n5.3
\n248
\n0
\nFinal testing, employee expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n5.3
\n871
\n0
\nDepreciation of final testing equipment
\n
\n
\n
\n
\n
\n
\n
\n
\n8
\n264
\n0
\nChange in inventory obsolescence provision
\n
\n
\n
\n
\n
\n
\n
\n12
\n1 410
\n336
\nTotal Cost of Sales
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 349
\n4 826
\n
\n\n\n\n\n5.2 Specification of operating expenses by nature
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNote
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nEmployee benefits expense
\n1)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n5.3
\n68 725
\n45 614
\nDepreciation and amortisation
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n9 670
\n10 400
\nOther operating expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n22 258
\n21 663
\nTotal operating expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n100 653
\n77 676
\n
\n1) Including consultants engaged on long-term contracts
\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n
\n\n
\n\n
\n\n
\n\n
\n5.3 Employee benefits expense
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\nIncluded in Research and development expenses:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWages and salaries
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 616
\n10 533
\nConsultants engaged on long-term contracts
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 108
\n8 540
\nSocial security costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 087
\n1 935
\nPension costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n516
\n554
\nOther benefits and social costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n363
\n422
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 053
\n893
\nGrants
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-495
\n-802
\nIncluded in Sales and marketing expenses:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWages and salaries
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n5 054
\n3 354
\nConsultants engaged on long-term contracts
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n6 297
\n3 292
\nSocial security costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n993
\n616
\nPension costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n246
\n176
\nOther benefits and social costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n173
\n135
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 976
\n1 883
\n
\nIncluded in Operational / supply chain expenses:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWages and salaries
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 141
\n1 679
\nConsultants engaged on long-term contracts
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n6 194
\n3 574
\nSocial security costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n421
\n308
\nPension costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n104
\n88
\nOther benefits and social costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n73
\n67
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 188
\n466
\nIncluded in Administrative expenses:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWages and salaries
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 631
\n8 770
\nConsultants engaged on long-term contract
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n238
\n80
\nSocial security costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 090
\n1 611
\nPension costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n516
\n461
\nOther benefits and social costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n363
\n352
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n3 779
\n-3 375
\nTotal employee benefits expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n68 725
\n45 614
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAverage number of man-years, employees
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n23
\n23
\nAverage number of man-years, total
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n38
\n35
\n
\nBonus program
\nAll employees are included in a cash bonus programme, with identical bonus criteria for all employees except the CEO. The bonus is
\ncalculated based on fixed salary, with maximum (for the period 2022-2023) 50% for the CEO, 30% for the other members of the
\nExecutive Management Team, 20% for department managers and 10% for other employees. With effect from 2024 the maximum
\nbonus is 80% for the CEO, 40% for the other members of the Executive Management Team, 20% for department managers and 10%
\nfor other employees. The bonus costs are included in \u201cWages and salaries\u201d and \u201cConsultants engaged on long-term contracts\u201d.
\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n
\n\n
\n\n
\n\n
\n\n
\nPensions
\npoLight ASA (the Group\u2019s Norwegian company) is subject to the requirements of the Mandatory Occupational Pensions Act, and the
\ncompany\u2019s pension scheme follows the requirements of the Act. As the subsidiaries in France, Finland and China are not subject to
\nmandatory pension schemes in addition to the national insurance schemes, no pension scheme has been established there.
\nThe pension scheme in Norway is based on a defined contribution plan, and the premium is calculated on the basis of the employees\u2019
\nincome. In 2022 and 2023, 7% of the salary between 0G (1G=NOK 118,620) and 7.1G, and 15% of the salary between 7.1G and 12G
\nwas calculated. The period\u2019s contributions are recognised in the Consolidated statement of income.
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nDefined contribution plan
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 299
\n1 195
\nSocial security tax
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n183
\n168
\nTotal pension cost
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 483
\n1 363
\n
\n\nShare option plans (equity-settled)
\nShare options in the parent company are granted to all employees. The exercise price of the share options is equal to, or higher than,
\nthe market price of the underlying shares on the date of grant. The company have two programs.
\nProgram 1: The share options in each agreement are vested over 3 years, and exercisable with 1/36 each month over 3 years,
\nat the expiry of each calendar month, starting at the date of grant. The company is liable for corporate taxes including National
\nInsurance up to 20%.
\nProgram 2: The share options in each agreement are vested over 3 years, and exercisable when fully vested. The employee
\ncovers all corporate taxes including National Insurance.
\nBoth programs are conditional on the employee\u2019s continued employment in poLight.
\nThe share options can be exercised up to two years after the three-year vesting period. Exercisable share options may as a general
\nrule, be exercised and shares issued once per quarter each following the release of poLight ASA\u2019s quarterly reports.
\nShare option expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n8 101
\n4 821
\nEmployer\u2019s national insurance contribution
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 894
\n-4 953
\nRecognised as employee benefits expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n9 996
\n-133
\n
\nThe share options expense includes accrued employer\u2019s national insurance contribution expenses that are calculated based on the
\nnumber of vested share options and a proportion of share options under vesting multiplied by the difference between market price
\nand exercise price at the end for the period.
\nThe board is authorised to issue additional shares - in share option scheme - up to total par value of NOK 264,653 (6,616,322 shares
\nat par value of NOK 0.04).
\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n
\n\n
\n\n
\n\n
\n\n
\n\nOutstanding share options at December 31, 2023
\nYear
\ngranted
\nAverage Exercise
\nprice (NOK)
\nOutstanding no.
\nof share options
\nExercisable no.
\nof share options
\nRemaining
\ncontractual life
\n(years)
\nTotal expensed
\n(in NOK 000)
\nRemaining
\nestimated expense
\n(in NOK 000)
\n2018
\n10.00
\n1 602 710
\n1 602 710
\n1.49
\n8 588
\n0
\n2019
\n3.78
\n185 545
\n185 545
\n0.47
\n375
\n0
\n2019
\n5.40
\n231 655
\n231 655
\n0.47
\n303
\n0
\n2019
\n6.75
\n323 460
\n323 460
\n0.47
\n262
\n0
\n2020
\n14.98
\n948 335
\n948 335
\n1.67
\n6 482
\n0
\n2021
\n22.80
\n17 361
\n17 361
\n0.33
\n7 332
\n1 402
\n2022
\n21.00
\n0
\n0
\n0
\n1 110
\n525
\n2023
\n21.26
\n1 470 000
\n117 500
\n4.70
\n1 667
\n5 879
\n2023
\n12.82
\n800 000
\n71 556
\n4.75
\n685
\n1 405
\nTotal
\n
\n5 579 066
\n3 498 122
\n
\n26 804
\n9 211
\n
\nThe terms of the stock options imply that exercise windows for exercising stock options shall be opened, normally each quarter after
\nthe presentation of quarterly reports. Throughout the term of these options, the Board has on several occasions not been able to
\nopen such exercise windows. The Board therefore extended the term of previously granted options for a period equivalent to the
\nperiod of exercise windows that have not been opened, or subject to lock-up arrangements. The 1.6 million share options issued in
\n2018 originally expired in October 2023, but was extended by board resolution in August 2023 with 9 months for all share option
\nholders. Additional 6 months extension applied for the share options held by CTO, COO and CFO and additional 18 months extension
\napplied for the share options held by CEO. Fair value of the extended date of exercise was measured using the Black-Scholes option
\npricing model. The fair value was measured to NOK 2.4 million being the difference between i) Fair value of the original scheme
\nmeasured at the time of change of expiry date and ii) Fair value of updated scheme measured at time of change of expiry date. Since
\nthe share options was all vested at the date of the extension all the expense has been recognised in 2023.
\nThe board also offered a replacement share option agreement (after cancellation) to those how got share options at strike 22.80
\n(2021) and 21.00 (2022). 800,000 share options were cancelled and replaced with a new share option agreement at strike 12.82. The
\nfair value of the new share options was measured to NOK 2.1 million net after reduction of the fair value of the cancelled share
\noptions.
\n
\nReconciliation of outstanding share options
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n
\n
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNumber of
\nshare options
\nWAEP
\n
\n
\nNumber of
\nshare options
\nWAEP
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nOutstanding at 1 January
\n
\n
\n
\n
\n
\n
\n4 238 646
\n12.9
\n
\n
\n4 045 865
\n12.4
\nGranted during the year
\n
\n
\n
\n
\n
\n
\n2 270 000
\n12.5
\n
\n
\n220 000
\n21.0
\nForfeited during the year
\n
\n
\n
\n
\n
\n
\n-65 556
\n22.1
\n
\n
\n0
\n
\nCancelled during the year
\n
\n
\n
\n
\n
\n
\n-800 000
\n22.4
\n
\n
\n0
\n
\nExercised during the year
\n
\n
\n
\n
\n
\n
\n-48 330
\n5.9
\n
\n
\n-27 221
\n9.4
\nExpired during the year
\n
\n
\n
\n
\n
\n
\n
\n-15 693
\n14.9
\n
\n
\n0
\n
\nOutstanding at 31 December
\n
\n
\n
\n
\n
\n
\n5 579 066
\n11.3
\n
\n
\n4 238 646
\n12.9
\nIn % of outstanding shares
\n
\n
\n
\n
\n
\n
\n8.43 %
\n
\n
\n
\n8.16 %
\n
\nExercisable at 31 December
\n
\n
\n
\n
\n
\n3 498 122
\n10.6
\n
\n
\n3 275 312
\n10.6
\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n
\n\n
\n\n
\n\n
\n\n
\n\nThe weighted average exercise price (WAEP) for the share options exercised during 2022 was NOK 5.9 (2022: NOK 9.4), and the
\naverage market price at the exercise dates was NOK 12.27 (2022: NOK 25.1).
\nThe weighted average exercise price for the share options outstanding as at 31 December 2023, was NOK 11.3 (2022: NOK 12.9) with
\na range from NOK 3.78 to NOK 22.80. The weighted average remaining contractual life for the share options outstanding as at 31
\nDecember 2023 was 2.69 years (2022: 2.01 years).
\nAt the end of the year, the weighted average exercise price was NOK 10.6 (2022: NOK 10.6) on exercisable options.
\nIn the case of an offeror becomes the owner of at least 9/10 of the issued shares of poLight, all of the unvested share options becomes
\nimmediately vested.
\n
\nShare option valuation
\nThe fair value of the options granted in 2023 has been calculated to NOK 7.5 million excluding social security expenses (2022: NOK
\n1.8 million), by using the Black-Scholes option pricing model.
\nThe basis for the valuation comprises several factors that affect the calculated fair value of granted options. The assumptions used
\nin the calculation was:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nProgram 1
\nProgram 2
\nProgram 1
\nProgram 2
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nPrice at grant date
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNOK 12.15
\nNOK 12.15
\nNOK 20.05
\nNOK 20.05
\nExercise price
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNOK 12.15
\nNOK 12.15
\nNOK 21
\nNOK 21
\nMaximum
\n1)
\n option life
\n
\n
\n
\n
\n
\n
\n
\n5 years
\n5 years
\n5 years
\n5 years
\nAssumed option life
\n2)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2.5 years
\n4 years
\n2.5 years
\n4 years
\nRisk-free interest rate
\n
\n
\n
\n
\n
\n
\n
\n
\n4.1%
\n4.1%
\n3.26%
\n3.26%
\nVolatility
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n60 %
\n60 %
\n60 %
\n60 %
\nFair value per share option
\n
\n
\n
\n
\n
\n
\nNOK 4.8
\nNOK 6.0
\nNOK 7.5
\nNOK 9.5
\n
\n1) The share options expire 5 years from the date of the grant, but any vested options shall be exercised no later than 6
\nmonths after last day of service.
\n2) The option life reflects the vesting time plus one year.
\n
\nExpected vesting is estimated based on employee turnover, and volatility is deemed based on historic volatility.
\n
\nSensitivity analysis
\nThe fair value of the share options granted in 2023 of NOK 7.5 million was determined based on an assumption of a volatility of 60%.
\nAt a volatility of 80%, holding other assumptions constants, would have increased the fair value with NOK 1.9 million over the vesting
\nperiod. A decrease in the assumed lifetime of the share options with 1 year, would have decreased the fair value with NOK 1.4 million
\nover the vesting period.
\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n
\n\n
\n\n
\n
\n\n5.4 Research and development expenses
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nEmployee benefits expense (incl. consultants)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n25 743
\n22 878
\nOther operating expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 990
\n14 922
\nGovernment grants
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-2 117
\n-4 892
\nCapitalized
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n0
\n0
\nTotal Research and development expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n34 616
\n32 907
\n
\nResearch and development costs that are not eligible for capitalisation have been expensed in the period incurred and are recognised
\nas Research and development expenses.
\nR&D costs that are expensed, includes R&D management, patents, improvements of the TLens (see Note 14 Government grants),
\nfeasibility study of new concepts, software license and costs related to integration of TLens in new customer applications/products.
\nNone of the activities were eligible for capitalisation during 2023 and 2022 since these have so far been in an early phase from an
\nR&D point of view.
\n
\n\n\n\n\n\n\n\n5.5 Sales and marketing expenses
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nEmployee benefits expense (incl. consultants)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n14 739
\n9 457
\nOther operating expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 973
\n3 666
\nTotal Sales and marketing expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n17 712
\n13 122
\n5.6 Operational/supply chain expenses
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nEmployee benefits expense (incl. consultants)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n11 121
\n6 182
\nOther operating expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n5 563
\n2 997
\nTotal Operational / supply chain expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n16 684
\n9 179
\n\n5.7 Administrative expenses
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nEmployee benefits expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n17 617
\n7 900
\nOther operating expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 347
\n4 168
\nTotal Administrative expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n21 964
\n12 068
\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n
\n\n5.8 Auditor's remuneration
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAudit fee
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 528
\n798
\nAudit related fee
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n309
\n34
\nTax fee
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n66
\n30
\nOther service fee
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n128
\n68
\nTotal Auditor's remuneration
\n(excluding VAT)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 031
\n930
\n
\n\n\n\n\n\n\n\n\n
\n\n
\n\n
\n\n
\n\n
\n\n5.9 Financial items
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nInterest income
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 518
\n2 249
\nFinance income
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 518
\n2 249
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNet foreign exchange losses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 020
\n385
\nInterest expense on lease liabilities
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n259
\n330
\nFinance expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n16
\n38
\nFinance cost
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 295
\n753
\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag251": {
"value": "\n
\n\n
\n\n
\n5 Other income/expenses
\n\n5.1 Specification of Cost of Sales
\n (in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNote
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWafer and assembly production cost, outsourced
\n
\n
\n
\n
\n
\n
\n7 556
\n4 490
\nCustomer customisations, employee expense
\n
\n
\n
\n
\n
\n
\n5.3
\n248
\n0
\nFinal testing, employee expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n5.3
\n871
\n0
\nDepreciation of final testing equipment
\n
\n
\n
\n
\n
\n
\n
\n
\n8
\n264
\n0
\nChange in inventory obsolescence provision
\n
\n
\n
\n
\n
\n
\n
\n12
\n1 410
\n336
\nTotal Cost of Sales
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 349
\n4 826
\n
\n\n\n\n\n5.2 Specification of operating expenses by nature
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNote
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nEmployee benefits expense
\n1)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n5.3
\n68 725
\n45 614
\nDepreciation and amortisation
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n9 670
\n10 400
\nOther operating expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n22 258
\n21 663
\nTotal operating expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n100 653
\n77 676
\n
\n1) Including consultants engaged on long-term contracts
\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n
\n\n
\n\n
\n\n
\n5.3 Employee benefits expense
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\nIncluded in Research and development expenses:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWages and salaries
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 616
\n10 533
\nConsultants engaged on long-term contracts
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 108
\n8 540
\nSocial security costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 087
\n1 935
\nPension costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n516
\n554
\nOther benefits and social costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n363
\n422
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 053
\n893
\nGrants
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-495
\n-802
\nIncluded in Sales and marketing expenses:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWages and salaries
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n5 054
\n3 354
\nConsultants engaged on long-term contracts
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n6 297
\n3 292
\nSocial security costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n993
\n616
\nPension costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n246
\n176
\nOther benefits and social costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n173
\n135
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 976
\n1 883
\n
\nIncluded in Operational / supply chain expenses:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWages and salaries
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 141
\n1 679
\nConsultants engaged on long-term contracts
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n6 194
\n3 574
\nSocial security costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n421
\n308
\nPension costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n104
\n88
\nOther benefits and social costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n73
\n67
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 188
\n466
\nIncluded in Administrative expenses:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWages and salaries
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 631
\n8 770
\nConsultants engaged on long-term contract
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n238
\n80
\nSocial security costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 090
\n1 611
\nPension costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n516
\n461
\nOther benefits and social costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n363
\n352
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n3 779
\n-3 375
\nTotal employee benefits expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n68 725
\n45 614
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAverage number of man-years, employees
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n23
\n23
\nAverage number of man-years, total
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n38
\n35
\n
\nBonus program
\nAll employees are included in a cash bonus programme, with identical bonus criteria for all employees except the CEO. The bonus is
\ncalculated based on fixed salary, with maximum (for the period 2022-2023) 50% for the CEO, 30% for the other members of the
\nExecutive Management Team, 20% for department managers and 10% for other employees. With effect from 2024 the maximum
\nbonus is 80% for the CEO, 40% for the other members of the Executive Management Team, 20% for department managers and 10%
\nfor other employees. The bonus costs are included in \u201cWages and salaries\u201d and \u201cConsultants engaged on long-term contracts\u201d.
\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n
\n\n
\n\n
\n\n
\nPensions
\npoLight ASA (the Group\u2019s Norwegian company) is subject to the requirements of the Mandatory Occupational Pensions Act, and the
\ncompany\u2019s pension scheme follows the requirements of the Act. As the subsidiaries in France, Finland and China are not subject to
\nmandatory pension schemes in addition to the national insurance schemes, no pension scheme has been established there.
\nThe pension scheme in Norway is based on a defined contribution plan, and the premium is calculated on the basis of the employees\u2019
\nincome. In 2022 and 2023, 7% of the salary between 0G (1G=NOK 118,620) and 7.1G, and 15% of the salary between 7.1G and 12G
\nwas calculated. The period\u2019s contributions are recognised in the Consolidated statement of income.
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nDefined contribution plan
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 299
\n1 195
\nSocial security tax
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n183
\n168
\nTotal pension cost
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 483
\n1 363
\n
\n\nShare option plans (equity-settled)
\nShare options in the parent company are granted to all employees. The exercise price of the share options is equal to, or higher than,
\nthe market price of the underlying shares on the date of grant. The company have two programs.
\nProgram 1: The share options in each agreement are vested over 3 years, and exercisable with 1/36 each month over 3 years,
\nat the expiry of each calendar month, starting at the date of grant. The company is liable for corporate taxes including National
\nInsurance up to 20%.
\nProgram 2: The share options in each agreement are vested over 3 years, and exercisable when fully vested. The employee
\ncovers all corporate taxes including National Insurance.
\nBoth programs are conditional on the employee\u2019s continued employment in poLight.
\nThe share options can be exercised up to two years after the three-year vesting period. Exercisable share options may as a general
\nrule, be exercised and shares issued once per quarter each following the release of poLight ASA\u2019s quarterly reports.
\nShare option expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n8 101
\n4 821
\nEmployer\u2019s national insurance contribution
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 894
\n-4 953
\nRecognised as employee benefits expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n9 996
\n-133
\n
\nThe share options expense includes accrued employer\u2019s national insurance contribution expenses that are calculated based on the
\nnumber of vested share options and a proportion of share options under vesting multiplied by the difference between market price
\nand exercise price at the end for the period.
\nThe board is authorised to issue additional shares - in share option scheme - up to total par value of NOK 264,653 (6,616,322 shares
\nat par value of NOK 0.04).
\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n
\n\n
\n\n
\n\n
\n\nOutstanding share options at December 31, 2023
\nYear
\ngranted
\nAverage Exercise
\nprice (NOK)
\nOutstanding no.
\nof share options
\nExercisable no.
\nof share options
\nRemaining
\ncontractual life
\n(years)
\nTotal expensed
\n(in NOK 000)
\nRemaining
\nestimated expense
\n(in NOK 000)
\n2018
\n10.00
\n1 602 710
\n1 602 710
\n1.49
\n8 588
\n0
\n2019
\n3.78
\n185 545
\n185 545
\n0.47
\n375
\n0
\n2019
\n5.40
\n231 655
\n231 655
\n0.47
\n303
\n0
\n2019
\n6.75
\n323 460
\n323 460
\n0.47
\n262
\n0
\n2020
\n14.98
\n948 335
\n948 335
\n1.67
\n6 482
\n0
\n2021
\n22.80
\n17 361
\n17 361
\n0.33
\n7 332
\n1 402
\n2022
\n21.00
\n0
\n0
\n0
\n1 110
\n525
\n2023
\n21.26
\n1 470 000
\n117 500
\n4.70
\n1 667
\n5 879
\n2023
\n12.82
\n800 000
\n71 556
\n4.75
\n685
\n1 405
\nTotal
\n
\n5 579 066
\n3 498 122
\n
\n26 804
\n9 211
\n
\nThe terms of the stock options imply that exercise windows for exercising stock options shall be opened, normally each quarter after
\nthe presentation of quarterly reports. Throughout the term of these options, the Board has on several occasions not been able to
\nopen such exercise windows. The Board therefore extended the term of previously granted options for a period equivalent to the
\nperiod of exercise windows that have not been opened, or subject to lock-up arrangements. The 1.6 million share options issued in
\n2018 originally expired in October 2023, but was extended by board resolution in August 2023 with 9 months for all share option
\nholders. Additional 6 months extension applied for the share options held by CTO, COO and CFO and additional 18 months extension
\napplied for the share options held by CEO. Fair value of the extended date of exercise was measured using the Black-Scholes option
\npricing model. The fair value was measured to NOK 2.4 million being the difference between i) Fair value of the original scheme
\nmeasured at the time of change of expiry date and ii) Fair value of updated scheme measured at time of change of expiry date. Since
\nthe share options was all vested at the date of the extension all the expense has been recognised in 2023.
\nThe board also offered a replacement share option agreement (after cancellation) to those how got share options at strike 22.80
\n(2021) and 21.00 (2022). 800,000 share options were cancelled and replaced with a new share option agreement at strike 12.82. The
\nfair value of the new share options was measured to NOK 2.1 million net after reduction of the fair value of the cancelled share
\noptions.
\n
\nReconciliation of outstanding share options
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n
\n
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNumber of
\nshare options
\nWAEP
\n
\n
\nNumber of
\nshare options
\nWAEP
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nOutstanding at 1 January
\n
\n
\n
\n
\n
\n
\n4 238 646
\n12.9
\n
\n
\n4 045 865
\n12.4
\nGranted during the year
\n
\n
\n
\n
\n
\n
\n2 270 000
\n12.5
\n
\n
\n220 000
\n21.0
\nForfeited during the year
\n
\n
\n
\n
\n
\n
\n-65 556
\n22.1
\n
\n
\n0
\n
\nCancelled during the year
\n
\n
\n
\n
\n
\n
\n-800 000
\n22.4
\n
\n
\n0
\n
\nExercised during the year
\n
\n
\n
\n
\n
\n
\n-48 330
\n5.9
\n
\n
\n-27 221
\n9.4
\nExpired during the year
\n
\n
\n
\n
\n
\n
\n
\n-15 693
\n14.9
\n
\n
\n0
\n
\nOutstanding at 31 December
\n
\n
\n
\n
\n
\n
\n5 579 066
\n11.3
\n
\n
\n4 238 646
\n12.9
\nIn % of outstanding shares
\n
\n
\n
\n
\n
\n
\n8.43 %
\n
\n
\n
\n8.16 %
\n
\nExercisable at 31 December
\n
\n
\n
\n
\n
\n3 498 122
\n10.6
\n
\n
\n3 275 312
\n10.6
\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n
\n\n
\n\n
\n\nThe weighted average exercise price (WAEP) for the share options exercised during 2022 was NOK 5.9 (2022: NOK 9.4), and the
\naverage market price at the exercise dates was NOK 12.27 (2022: NOK 25.1).
\nThe weighted average exercise price for the share options outstanding as at 31 December 2023, was NOK 11.3 (2022: NOK 12.9) with
\na range from NOK 3.78 to NOK 22.80. The weighted average remaining contractual life for the share options outstanding as at 31
\nDecember 2023 was 2.69 years (2022: 2.01 years).
\nAt the end of the year, the weighted average exercise price was NOK 10.6 (2022: NOK 10.6) on exercisable options.
\nIn the case of an offeror becomes the owner of at least 9/10 of the issued shares of poLight, all of the unvested share options becomes
\nimmediately vested.
\n
\nShare option valuation
\nThe fair value of the options granted in 2023 has been calculated to NOK 7.5 million excluding social security expenses (2022: NOK
\n1.8 million), by using the Black-Scholes option pricing model.
\nThe basis for the valuation comprises several factors that affect the calculated fair value of granted options. The assumptions used
\nin the calculation was:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nProgram 1
\nProgram 2
\nProgram 1
\nProgram 2
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nPrice at grant date
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNOK 12.15
\nNOK 12.15
\nNOK 20.05
\nNOK 20.05
\nExercise price
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNOK 12.15
\nNOK 12.15
\nNOK 21
\nNOK 21
\nMaximum
\n1)
\n option life
\n
\n
\n
\n
\n
\n
\n
\n5 years
\n5 years
\n5 years
\n5 years
\nAssumed option life
\n2)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2.5 years
\n4 years
\n2.5 years
\n4 years
\nRisk-free interest rate
\n
\n
\n
\n
\n
\n
\n
\n
\n4.1%
\n4.1%
\n3.26%
\n3.26%
\nVolatility
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n60 %
\n60 %
\n60 %
\n60 %
\nFair value per share option
\n
\n
\n
\n
\n
\n
\nNOK 4.8
\nNOK 6.0
\nNOK 7.5
\nNOK 9.5
\n
\n1) The share options expire 5 years from the date of the grant, but any vested options shall be exercised no later than 6
\nmonths after last day of service.
\n2) The option life reflects the vesting time plus one year.
\n
\nExpected vesting is estimated based on employee turnover, and volatility is deemed based on historic volatility.
\n
\nSensitivity analysis
\nThe fair value of the share options granted in 2023 of NOK 7.5 million was determined based on an assumption of a volatility of 60%.
\nAt a volatility of 80%, holding other assumptions constants, would have increased the fair value with NOK 1.9 million over the vesting
\nperiod. A decrease in the assumed lifetime of the share options with 1 year, would have decreased the fair value with NOK 1.4 million
\nover the vesting period.
\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n
\n
\n\n5.4 Research and development expenses
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nEmployee benefits expense (incl. consultants)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n25 743
\n22 878
\nOther operating expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 990
\n14 922
\nGovernment grants
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-2 117
\n-4 892
\nCapitalized
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n0
\n0
\nTotal Research and development expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n34 616
\n32 907
\n
\nResearch and development costs that are not eligible for capitalisation have been expensed in the period incurred and are recognised
\nas Research and development expenses.
\nR&D costs that are expensed, includes R&D management, patents, improvements of the TLens (see Note 14 Government grants),
\nfeasibility study of new concepts, software license and costs related to integration of TLens in new customer applications/products.
\nNone of the activities were eligible for capitalisation during 2023 and 2022 since these have so far been in an early phase from an
\nR&D point of view.
\n
\n\n\n\n\n\n\n\n5.5 Sales and marketing expenses
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nEmployee benefits expense (incl. consultants)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n14 739
\n9 457
\nOther operating expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 973
\n3 666
\nTotal Sales and marketing expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n17 712
\n13 122
\n5.6 Operational/supply chain expenses
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nEmployee benefits expense (incl. consultants)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n11 121
\n6 182
\nOther operating expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n5 563
\n2 997
\nTotal Operational / supply chain expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n16 684
\n9 179
\n\n5.7 Administrative expenses
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nEmployee benefits expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n17 617
\n7 900
\nOther operating expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 347
\n4 168
\nTotal Administrative expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n21 964
\n12 068
\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n
\n\n
\n\n
\n\n
\n
\n\n5.8 Auditor's remuneration
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAudit fee
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 528
\n798
\nAudit related fee
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n309
\n34
\nTax fee
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n66
\n30
\nOther service fee
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n128
\n68
\nTotal Auditor's remuneration
\n(excluding VAT)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 031
\n930
\n
\n\n\n\n\n\n\n\n\n
\n\n
\n\n
\n\n
\n\n
\n\n5.9 Financial items
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nInterest income
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 518
\n2 249
\nFinance income
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 518
\n2 249
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNet foreign exchange losses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 020
\n385
\nInterest expense on lease liabilities
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n259
\n330
\nFinance expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n16
\n38
\nFinance cost
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 295
\n753
\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfExpensesExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag252": {
"value": "\n
\n\n
\n5 Other income/expenses
\n\n5.1 Specification of Cost of Sales
\n (in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNote
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWafer and assembly production cost, outsourced
\n
\n
\n
\n
\n
\n
\n7 556
\n4 490
\nCustomer customisations, employee expense
\n
\n
\n
\n
\n
\n
\n5.3
\n248
\n0
\nFinal testing, employee expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n5.3
\n871
\n0
\nDepreciation of final testing equipment
\n
\n
\n
\n
\n
\n
\n
\n
\n8
\n264
\n0
\nChange in inventory obsolescence provision
\n
\n
\n
\n
\n
\n
\n
\n12
\n1 410
\n336
\nTotal Cost of Sales
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 349
\n4 826
\n
\n\n\n\n\n5.2 Specification of operating expenses by nature
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNote
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nEmployee benefits expense
\n1)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n5.3
\n68 725
\n45 614
\nDepreciation and amortisation
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n9 670
\n10 400
\nOther operating expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n22 258
\n21 663
\nTotal operating expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n100 653
\n77 676
\n
\n1) Including consultants engaged on long-term contracts
\n
\n\n\n\n\n
\n\n\n\n\n
\n\n
\n\n
\n\n
\n5.3 Employee benefits expense
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\nIncluded in Research and development expenses:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWages and salaries
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 616
\n10 533
\nConsultants engaged on long-term contracts
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 108
\n8 540
\nSocial security costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 087
\n1 935
\nPension costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n516
\n554
\nOther benefits and social costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n363
\n422
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 053
\n893
\nGrants
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-495
\n-802
\nIncluded in Sales and marketing expenses:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWages and salaries
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n5 054
\n3 354
\nConsultants engaged on long-term contracts
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n6 297
\n3 292
\nSocial security costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n993
\n616
\nPension costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n246
\n176
\nOther benefits and social costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n173
\n135
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 976
\n1 883
\n
\nIncluded in Operational / supply chain expenses:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWages and salaries
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 141
\n1 679
\nConsultants engaged on long-term contracts
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n6 194
\n3 574
\nSocial security costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n421
\n308
\nPension costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n104
\n88
\nOther benefits and social costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n73
\n67
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 188
\n466
\nIncluded in Administrative expenses:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWages and salaries
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 631
\n8 770
\nConsultants engaged on long-term contract
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n238
\n80
\nSocial security costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 090
\n1 611
\nPension costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n516
\n461
\nOther benefits and social costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n363
\n352
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n3 779
\n-3 375
\nTotal employee benefits expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n68 725
\n45 614
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAverage number of man-years, employees
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n23
\n23
\nAverage number of man-years, total
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n38
\n35
\n
\nBonus program
\nAll employees are included in a cash bonus programme, with identical bonus criteria for all employees except the CEO. The bonus is
\ncalculated based on fixed salary, with maximum (for the period 2022-2023) 50% for the CEO, 30% for the other members of the
\nExecutive Management Team, 20% for department managers and 10% for other employees. With effect from 2024 the maximum
\nbonus is 80% for the CEO, 40% for the other members of the Executive Management Team, 20% for department managers and 10%
\nfor other employees. The bonus costs are included in \u201cWages and salaries\u201d and \u201cConsultants engaged on long-term contracts\u201d.
\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n
\n\n
\nPensions
\npoLight ASA (the Group\u2019s Norwegian company) is subject to the requirements of the Mandatory Occupational Pensions Act, and the
\ncompany\u2019s pension scheme follows the requirements of the Act. As the subsidiaries in France, Finland and China are not subject to
\nmandatory pension schemes in addition to the national insurance schemes, no pension scheme has been established there.
\nThe pension scheme in Norway is based on a defined contribution plan, and the premium is calculated on the basis of the employees\u2019
\nincome. In 2022 and 2023, 7% of the salary between 0G (1G=NOK 118,620) and 7.1G, and 15% of the salary between 7.1G and 12G
\nwas calculated. The period\u2019s contributions are recognised in the Consolidated statement of income.
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nDefined contribution plan
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 299
\n1 195
\nSocial security tax
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n183
\n168
\nTotal pension cost
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 483
\n1 363
\n
\n\nShare option plans (equity-settled)
\nShare options in the parent company are granted to all employees. The exercise price of the share options is equal to, or higher than,
\nthe market price of the underlying shares on the date of grant. The company have two programs.
\nProgram 1: The share options in each agreement are vested over 3 years, and exercisable with 1/36 each month over 3 years,
\nat the expiry of each calendar month, starting at the date of grant. The company is liable for corporate taxes including National
\nInsurance up to 20%.
\nProgram 2: The share options in each agreement are vested over 3 years, and exercisable when fully vested. The employee
\ncovers all corporate taxes including National Insurance.
\nBoth programs are conditional on the employee\u2019s continued employment in poLight.
\nThe share options can be exercised up to two years after the three-year vesting period. Exercisable share options may as a general
\nrule, be exercised and shares issued once per quarter each following the release of poLight ASA\u2019s quarterly reports.
\nShare option expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n8 101
\n4 821
\nEmployer\u2019s national insurance contribution
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 894
\n-4 953
\nRecognised as employee benefits expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n9 996
\n-133
\n
\nThe share options expense includes accrued employer\u2019s national insurance contribution expenses that are calculated based on the
\nnumber of vested share options and a proportion of share options under vesting multiplied by the difference between market price
\nand exercise price at the end for the period.
\nThe board is authorised to issue additional shares - in share option scheme - up to total par value of NOK 264,653 (6,616,322 shares
\nat par value of NOK 0.04).
\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n
\n\n
\n\nOutstanding share options at December 31, 2023
\nYear
\ngranted
\nAverage Exercise
\nprice (NOK)
\nOutstanding no.
\nof share options
\nExercisable no.
\nof share options
\nRemaining
\ncontractual life
\n(years)
\nTotal expensed
\n(in NOK 000)
\nRemaining
\nestimated expense
\n(in NOK 000)
\n2018
\n10.00
\n1 602 710
\n1 602 710
\n1.49
\n8 588
\n0
\n2019
\n3.78
\n185 545
\n185 545
\n0.47
\n375
\n0
\n2019
\n5.40
\n231 655
\n231 655
\n0.47
\n303
\n0
\n2019
\n6.75
\n323 460
\n323 460
\n0.47
\n262
\n0
\n2020
\n14.98
\n948 335
\n948 335
\n1.67
\n6 482
\n0
\n2021
\n22.80
\n17 361
\n17 361
\n0.33
\n7 332
\n1 402
\n2022
\n21.00
\n0
\n0
\n0
\n1 110
\n525
\n2023
\n21.26
\n1 470 000
\n117 500
\n4.70
\n1 667
\n5 879
\n2023
\n12.82
\n800 000
\n71 556
\n4.75
\n685
\n1 405
\nTotal
\n
\n5 579 066
\n3 498 122
\n
\n26 804
\n9 211
\n
\nThe terms of the stock options imply that exercise windows for exercising stock options shall be opened, normally each quarter after
\nthe presentation of quarterly reports. Throughout the term of these options, the Board has on several occasions not been able to
\nopen such exercise windows. The Board therefore extended the term of previously granted options for a period equivalent to the
\nperiod of exercise windows that have not been opened, or subject to lock-up arrangements. The 1.6 million share options issued in
\n2018 originally expired in October 2023, but was extended by board resolution in August 2023 with 9 months for all share option
\nholders. Additional 6 months extension applied for the share options held by CTO, COO and CFO and additional 18 months extension
\napplied for the share options held by CEO. Fair value of the extended date of exercise was measured using the Black-Scholes option
\npricing model. The fair value was measured to NOK 2.4 million being the difference between i) Fair value of the original scheme
\nmeasured at the time of change of expiry date and ii) Fair value of updated scheme measured at time of change of expiry date. Since
\nthe share options was all vested at the date of the extension all the expense has been recognised in 2023.
\nThe board also offered a replacement share option agreement (after cancellation) to those how got share options at strike 22.80
\n(2021) and 21.00 (2022). 800,000 share options were cancelled and replaced with a new share option agreement at strike 12.82. The
\nfair value of the new share options was measured to NOK 2.1 million net after reduction of the fair value of the cancelled share
\noptions.
\n
\nReconciliation of outstanding share options
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n
\n
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNumber of
\nshare options
\nWAEP
\n
\n
\nNumber of
\nshare options
\nWAEP
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nOutstanding at 1 January
\n
\n
\n
\n
\n
\n
\n4 238 646
\n12.9
\n
\n
\n4 045 865
\n12.4
\nGranted during the year
\n
\n
\n
\n
\n
\n
\n2 270 000
\n12.5
\n
\n
\n220 000
\n21.0
\nForfeited during the year
\n
\n
\n
\n
\n
\n
\n-65 556
\n22.1
\n
\n
\n0
\n
\nCancelled during the year
\n
\n
\n
\n
\n
\n
\n-800 000
\n22.4
\n
\n
\n0
\n
\nExercised during the year
\n
\n
\n
\n
\n
\n
\n-48 330
\n5.9
\n
\n
\n-27 221
\n9.4
\nExpired during the year
\n
\n
\n
\n
\n
\n
\n
\n-15 693
\n14.9
\n
\n
\n0
\n
\nOutstanding at 31 December
\n
\n
\n
\n
\n
\n
\n5 579 066
\n11.3
\n
\n
\n4 238 646
\n12.9
\nIn % of outstanding shares
\n
\n
\n
\n
\n
\n
\n8.43 %
\n
\n
\n
\n8.16 %
\n
\nExercisable at 31 December
\n
\n
\n
\n
\n
\n3 498 122
\n10.6
\n
\n
\n3 275 312
\n10.6
\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n
\n\n
\n\nThe weighted average exercise price (WAEP) for the share options exercised during 2022 was NOK 5.9 (2022: NOK 9.4), and the
\naverage market price at the exercise dates was NOK 12.27 (2022: NOK 25.1).
\nThe weighted average exercise price for the share options outstanding as at 31 December 2023, was NOK 11.3 (2022: NOK 12.9) with
\na range from NOK 3.78 to NOK 22.80. The weighted average remaining contractual life for the share options outstanding as at 31
\nDecember 2023 was 2.69 years (2022: 2.01 years).
\nAt the end of the year, the weighted average exercise price was NOK 10.6 (2022: NOK 10.6) on exercisable options.
\nIn the case of an offeror becomes the owner of at least 9/10 of the issued shares of poLight, all of the unvested share options becomes
\nimmediately vested.
\n
\nShare option valuation
\nThe fair value of the options granted in 2023 has been calculated to NOK 7.5 million excluding social security expenses (2022: NOK
\n1.8 million), by using the Black-Scholes option pricing model.
\nThe basis for the valuation comprises several factors that affect the calculated fair value of granted options. The assumptions used
\nin the calculation was:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nProgram 1
\nProgram 2
\nProgram 1
\nProgram 2
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nPrice at grant date
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNOK 12.15
\nNOK 12.15
\nNOK 20.05
\nNOK 20.05
\nExercise price
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNOK 12.15
\nNOK 12.15
\nNOK 21
\nNOK 21
\nMaximum
\n1)
\n option life
\n
\n
\n
\n
\n
\n
\n
\n5 years
\n5 years
\n5 years
\n5 years
\nAssumed option life
\n2)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2.5 years
\n4 years
\n2.5 years
\n4 years
\nRisk-free interest rate
\n
\n
\n
\n
\n
\n
\n
\n
\n4.1%
\n4.1%
\n3.26%
\n3.26%
\nVolatility
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n60 %
\n60 %
\n60 %
\n60 %
\nFair value per share option
\n
\n
\n
\n
\n
\n
\nNOK 4.8
\nNOK 6.0
\nNOK 7.5
\nNOK 9.5
\n
\n1) The share options expire 5 years from the date of the grant, but any vested options shall be exercised no later than 6
\nmonths after last day of service.
\n2) The option life reflects the vesting time plus one year.
\n
\nExpected vesting is estimated based on employee turnover, and volatility is deemed based on historic volatility.
\n
\nSensitivity analysis
\nThe fair value of the share options granted in 2023 of NOK 7.5 million was determined based on an assumption of a volatility of 60%.
\nAt a volatility of 80%, holding other assumptions constants, would have increased the fair value with NOK 1.9 million over the vesting
\nperiod. A decrease in the assumed lifetime of the share options with 1 year, would have decreased the fair value with NOK 1.4 million
\nover the vesting period.
\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n
\n\n5.4 Research and development expenses
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nEmployee benefits expense (incl. consultants)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n25 743
\n22 878
\nOther operating expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 990
\n14 922
\nGovernment grants
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-2 117
\n-4 892
\nCapitalized
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n0
\n0
\nTotal Research and development expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n34 616
\n32 907
\n
\nResearch and development costs that are not eligible for capitalisation have been expensed in the period incurred and are recognised
\nas Research and development expenses.
\nR&D costs that are expensed, includes R&D management, patents, improvements of the TLens (see Note 14 Government grants),
\nfeasibility study of new concepts, software license and costs related to integration of TLens in new customer applications/products.
\nNone of the activities were eligible for capitalisation during 2023 and 2022 since these have so far been in an early phase from an
\nR&D point of view.
\n
\n\n\n\n\n\n\n\n5.5 Sales and marketing expenses
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nEmployee benefits expense (incl. consultants)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n14 739
\n9 457
\nOther operating expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 973
\n3 666
\nTotal Sales and marketing expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n17 712
\n13 122
\n5.6 Operational/supply chain expenses
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nEmployee benefits expense (incl. consultants)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n11 121
\n6 182
\nOther operating expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n5 563
\n2 997
\nTotal Operational / supply chain expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n16 684
\n9 179
\n\n5.7 Administrative expenses
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nEmployee benefits expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n17 617
\n7 900
\nOther operating expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 347
\n4 168
\nTotal Administrative expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n21 964
\n12 068
\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n
\n\n
\n\n
\n
\n\n5.8 Auditor's remuneration
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAudit fee
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 528
\n798
\nAudit related fee
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n309
\n34
\nTax fee
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n66
\n30
\nOther service fee
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n128
\n68
\nTotal Auditor's remuneration
\n(excluding VAT)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 031
\n930
\n
\n\n\n\n\n\n\n\n\n
\n\n
\n\n
\n\n
\n\n
\n\n5.9 Financial items
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nInterest income
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 518
\n2 249
\nFinance income
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 518
\n2 249
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNet foreign exchange losses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 020
\n385
\nInterest expense on lease liabilities
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n259
\n330
\nFinance expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n16
\n38
\nFinance cost
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 295
\n753
\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag253": {
"value": "\n
\n5 Other income/expenses
\n\n5.1 Specification of Cost of Sales
\n (in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNote
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWafer and assembly production cost, outsourced
\n
\n
\n
\n
\n
\n
\n7 556
\n4 490
\nCustomer customisations, employee expense
\n
\n
\n
\n
\n
\n
\n5.3
\n248
\n0
\nFinal testing, employee expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n5.3
\n871
\n0
\nDepreciation of final testing equipment
\n
\n
\n
\n
\n
\n
\n
\n
\n8
\n264
\n0
\nChange in inventory obsolescence provision
\n
\n
\n
\n
\n
\n
\n
\n12
\n1 410
\n336
\nTotal Cost of Sales
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 349
\n4 826
\n
\n\n\n\n\n5.2 Specification of operating expenses by nature
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNote
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nEmployee benefits expense
\n1)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n5.3
\n68 725
\n45 614
\nDepreciation and amortisation
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n9 670
\n10 400
\nOther operating expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n22 258
\n21 663
\nTotal operating expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n100 653
\n77 676
\n
\n1) Including consultants engaged on long-term contracts
\n
\n\n\n\n\n
\n\n
\n\n
\n5.3 Employee benefits expense
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\nIncluded in Research and development expenses:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWages and salaries
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 616
\n10 533
\nConsultants engaged on long-term contracts
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 108
\n8 540
\nSocial security costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 087
\n1 935
\nPension costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n516
\n554
\nOther benefits and social costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n363
\n422
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 053
\n893
\nGrants
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-495
\n-802
\nIncluded in Sales and marketing expenses:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWages and salaries
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n5 054
\n3 354
\nConsultants engaged on long-term contracts
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n6 297
\n3 292
\nSocial security costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n993
\n616
\nPension costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n246
\n176
\nOther benefits and social costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n173
\n135
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 976
\n1 883
\n
\nIncluded in Operational / supply chain expenses:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWages and salaries
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 141
\n1 679
\nConsultants engaged on long-term contracts
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n6 194
\n3 574
\nSocial security costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n421
\n308
\nPension costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n104
\n88
\nOther benefits and social costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n73
\n67
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 188
\n466
\nIncluded in Administrative expenses:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWages and salaries
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 631
\n8 770
\nConsultants engaged on long-term contract
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n238
\n80
\nSocial security costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 090
\n1 611
\nPension costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n516
\n461
\nOther benefits and social costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n363
\n352
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n3 779
\n-3 375
\nTotal employee benefits expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n68 725
\n45 614
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAverage number of man-years, employees
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n23
\n23
\nAverage number of man-years, total
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n38
\n35
\n
\nBonus program
\nAll employees are included in a cash bonus programme, with identical bonus criteria for all employees except the CEO. The bonus is
\ncalculated based on fixed salary, with maximum (for the period 2022-2023) 50% for the CEO, 30% for the other members of the
\nExecutive Management Team, 20% for department managers and 10% for other employees. With effect from 2024 the maximum
\nbonus is 80% for the CEO, 40% for the other members of the Executive Management Team, 20% for department managers and 10%
\nfor other employees. The bonus costs are included in \u201cWages and salaries\u201d and \u201cConsultants engaged on long-term contracts\u201d.
\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n
\nPensions
\npoLight ASA (the Group\u2019s Norwegian company) is subject to the requirements of the Mandatory Occupational Pensions Act, and the
\ncompany\u2019s pension scheme follows the requirements of the Act. As the subsidiaries in France, Finland and China are not subject to
\nmandatory pension schemes in addition to the national insurance schemes, no pension scheme has been established there.
\nThe pension scheme in Norway is based on a defined contribution plan, and the premium is calculated on the basis of the employees\u2019
\nincome. In 2022 and 2023, 7% of the salary between 0G (1G=NOK 118,620) and 7.1G, and 15% of the salary between 7.1G and 12G
\nwas calculated. The period\u2019s contributions are recognised in the Consolidated statement of income.
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nDefined contribution plan
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 299
\n1 195
\nSocial security tax
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n183
\n168
\nTotal pension cost
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 483
\n1 363
\n
\n\nShare option plans (equity-settled)
\nShare options in the parent company are granted to all employees. The exercise price of the share options is equal to, or higher than,
\nthe market price of the underlying shares on the date of grant. The company have two programs.
\nProgram 1: The share options in each agreement are vested over 3 years, and exercisable with 1/36 each month over 3 years,
\nat the expiry of each calendar month, starting at the date of grant. The company is liable for corporate taxes including National
\nInsurance up to 20%.
\nProgram 2: The share options in each agreement are vested over 3 years, and exercisable when fully vested. The employee
\ncovers all corporate taxes including National Insurance.
\nBoth programs are conditional on the employee\u2019s continued employment in poLight.
\nThe share options can be exercised up to two years after the three-year vesting period. Exercisable share options may as a general
\nrule, be exercised and shares issued once per quarter each following the release of poLight ASA\u2019s quarterly reports.
\nShare option expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n8 101
\n4 821
\nEmployer\u2019s national insurance contribution
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 894
\n-4 953
\nRecognised as employee benefits expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n9 996
\n-133
\n
\nThe share options expense includes accrued employer\u2019s national insurance contribution expenses that are calculated based on the
\nnumber of vested share options and a proportion of share options under vesting multiplied by the difference between market price
\nand exercise price at the end for the period.
\nThe board is authorised to issue additional shares - in share option scheme - up to total par value of NOK 264,653 (6,616,322 shares
\nat par value of NOK 0.04).
\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n
\n\nOutstanding share options at December 31, 2023
\nYear
\ngranted
\nAverage Exercise
\nprice (NOK)
\nOutstanding no.
\nof share options
\nExercisable no.
\nof share options
\nRemaining
\ncontractual life
\n(years)
\nTotal expensed
\n(in NOK 000)
\nRemaining
\nestimated expense
\n(in NOK 000)
\n2018
\n10.00
\n1 602 710
\n1 602 710
\n1.49
\n8 588
\n0
\n2019
\n3.78
\n185 545
\n185 545
\n0.47
\n375
\n0
\n2019
\n5.40
\n231 655
\n231 655
\n0.47
\n303
\n0
\n2019
\n6.75
\n323 460
\n323 460
\n0.47
\n262
\n0
\n2020
\n14.98
\n948 335
\n948 335
\n1.67
\n6 482
\n0
\n2021
\n22.80
\n17 361
\n17 361
\n0.33
\n7 332
\n1 402
\n2022
\n21.00
\n0
\n0
\n0
\n1 110
\n525
\n2023
\n21.26
\n1 470 000
\n117 500
\n4.70
\n1 667
\n5 879
\n2023
\n12.82
\n800 000
\n71 556
\n4.75
\n685
\n1 405
\nTotal
\n
\n5 579 066
\n3 498 122
\n
\n26 804
\n9 211
\n
\nThe terms of the stock options imply that exercise windows for exercising stock options shall be opened, normally each quarter after
\nthe presentation of quarterly reports. Throughout the term of these options, the Board has on several occasions not been able to
\nopen such exercise windows. The Board therefore extended the term of previously granted options for a period equivalent to the
\nperiod of exercise windows that have not been opened, or subject to lock-up arrangements. The 1.6 million share options issued in
\n2018 originally expired in October 2023, but was extended by board resolution in August 2023 with 9 months for all share option
\nholders. Additional 6 months extension applied for the share options held by CTO, COO and CFO and additional 18 months extension
\napplied for the share options held by CEO. Fair value of the extended date of exercise was measured using the Black-Scholes option
\npricing model. The fair value was measured to NOK 2.4 million being the difference between i) Fair value of the original scheme
\nmeasured at the time of change of expiry date and ii) Fair value of updated scheme measured at time of change of expiry date. Since
\nthe share options was all vested at the date of the extension all the expense has been recognised in 2023.
\nThe board also offered a replacement share option agreement (after cancellation) to those how got share options at strike 22.80
\n(2021) and 21.00 (2022). 800,000 share options were cancelled and replaced with a new share option agreement at strike 12.82. The
\nfair value of the new share options was measured to NOK 2.1 million net after reduction of the fair value of the cancelled share
\noptions.
\n
\nReconciliation of outstanding share options
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n
\n
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNumber of
\nshare options
\nWAEP
\n
\n
\nNumber of
\nshare options
\nWAEP
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nOutstanding at 1 January
\n
\n
\n
\n
\n
\n
\n4 238 646
\n12.9
\n
\n
\n4 045 865
\n12.4
\nGranted during the year
\n
\n
\n
\n
\n
\n
\n2 270 000
\n12.5
\n
\n
\n220 000
\n21.0
\nForfeited during the year
\n
\n
\n
\n
\n
\n
\n-65 556
\n22.1
\n
\n
\n0
\n
\nCancelled during the year
\n
\n
\n
\n
\n
\n
\n-800 000
\n22.4
\n
\n
\n0
\n
\nExercised during the year
\n
\n
\n
\n
\n
\n
\n-48 330
\n5.9
\n
\n
\n-27 221
\n9.4
\nExpired during the year
\n
\n
\n
\n
\n
\n
\n
\n-15 693
\n14.9
\n
\n
\n0
\n
\nOutstanding at 31 December
\n
\n
\n
\n
\n
\n
\n5 579 066
\n11.3
\n
\n
\n4 238 646
\n12.9
\nIn % of outstanding shares
\n
\n
\n
\n
\n
\n
\n8.43 %
\n
\n
\n
\n8.16 %
\n
\nExercisable at 31 December
\n
\n
\n
\n
\n
\n3 498 122
\n10.6
\n
\n
\n3 275 312
\n10.6
\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n
\n\n
\n\n
\n\n
\n\nThe weighted average exercise price (WAEP) for the share options exercised during 2022 was NOK 5.9 (2022: NOK 9.4), and the
\naverage market price at the exercise dates was NOK 12.27 (2022: NOK 25.1).
\nThe weighted average exercise price for the share options outstanding as at 31 December 2023, was NOK 11.3 (2022: NOK 12.9) with
\na range from NOK 3.78 to NOK 22.80. The weighted average remaining contractual life for the share options outstanding as at 31
\nDecember 2023 was 2.69 years (2022: 2.01 years).
\nAt the end of the year, the weighted average exercise price was NOK 10.6 (2022: NOK 10.6) on exercisable options.
\nIn the case of an offeror becomes the owner of at least 9/10 of the issued shares of poLight, all of the unvested share options becomes
\nimmediately vested.
\n
\nShare option valuation
\nThe fair value of the options granted in 2023 has been calculated to NOK 7.5 million excluding social security expenses (2022: NOK
\n1.8 million), by using the Black-Scholes option pricing model.
\nThe basis for the valuation comprises several factors that affect the calculated fair value of granted options. The assumptions used
\nin the calculation was:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nProgram 1
\nProgram 2
\nProgram 1
\nProgram 2
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nPrice at grant date
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNOK 12.15
\nNOK 12.15
\nNOK 20.05
\nNOK 20.05
\nExercise price
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNOK 12.15
\nNOK 12.15
\nNOK 21
\nNOK 21
\nMaximum
\n1)
\n option life
\n
\n
\n
\n
\n
\n
\n
\n5 years
\n5 years
\n5 years
\n5 years
\nAssumed option life
\n2)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2.5 years
\n4 years
\n2.5 years
\n4 years
\nRisk-free interest rate
\n
\n
\n
\n
\n
\n
\n
\n
\n4.1%
\n4.1%
\n3.26%
\n3.26%
\nVolatility
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n60 %
\n60 %
\n60 %
\n60 %
\nFair value per share option
\n
\n
\n
\n
\n
\n
\nNOK 4.8
\nNOK 6.0
\nNOK 7.5
\nNOK 9.5
\n
\n1) The share options expire 5 years from the date of the grant, but any vested options shall be exercised no later than 6
\nmonths after last day of service.
\n2) The option life reflects the vesting time plus one year.
\n
\nExpected vesting is estimated based on employee turnover, and volatility is deemed based on historic volatility.
\n
\nSensitivity analysis
\nThe fair value of the share options granted in 2023 of NOK 7.5 million was determined based on an assumption of a volatility of 60%.
\nAt a volatility of 80%, holding other assumptions constants, would have increased the fair value with NOK 1.9 million over the vesting
\nperiod. A decrease in the assumed lifetime of the share options with 1 year, would have decreased the fair value with NOK 1.4 million
\nover the vesting period.
\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n
\n\n
\n
\n\n5.4 Research and development expenses
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nEmployee benefits expense (incl. consultants)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n25 743
\n22 878
\nOther operating expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 990
\n14 922
\nGovernment grants
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-2 117
\n-4 892
\nCapitalized
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n0
\n0
\nTotal Research and development expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n34 616
\n32 907
\n
\nResearch and development costs that are not eligible for capitalisation have been expensed in the period incurred and are recognised
\nas Research and development expenses.
\nR&D costs that are expensed, includes R&D management, patents, improvements of the TLens (see Note 14 Government grants),
\nfeasibility study of new concepts, software license and costs related to integration of TLens in new customer applications/products.
\nNone of the activities were eligible for capitalisation during 2023 and 2022 since these have so far been in an early phase from an
\nR&D point of view.
\n
\n\n\n\n\n\n\n\n5.5 Sales and marketing expenses
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nEmployee benefits expense (incl. consultants)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n14 739
\n9 457
\nOther operating expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 973
\n3 666
\nTotal Sales and marketing expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n17 712
\n13 122
\n5.6 Operational/supply chain expenses
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nEmployee benefits expense (incl. consultants)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n11 121
\n6 182
\nOther operating expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n5 563
\n2 997
\nTotal Operational / supply chain expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n16 684
\n9 179
\n\n5.7 Administrative expenses
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nEmployee benefits expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n17 617
\n7 900
\nOther operating expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 347
\n4 168
\nTotal Administrative expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n21 964
\n12 068
\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n
\n
\n\n5.8 Auditor's remuneration
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAudit fee
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 528
\n798
\nAudit related fee
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n309
\n34
\nTax fee
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n66
\n30
\nOther service fee
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n128
\n68
\nTotal Auditor's remuneration
\n(excluding VAT)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 031
\n930
\n
\n\n\n\n\n\n\n\n\n
\n\n
\n\n
\n\n
\n\n
\n\n5.9 Financial items
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nInterest income
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 518
\n2 249
\nFinance income
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 518
\n2 249
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNet foreign exchange losses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 020
\n385
\nInterest expense on lease liabilities
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n259
\n330
\nFinance expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n16
\n38
\nFinance cost
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 295
\n753
\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag254": {
"value": "\n5.1 Specification of Cost of Sales
\n (in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNote
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWafer and assembly production cost, outsourced
\n
\n
\n
\n
\n
\n
\n7 556
\n4 490
\nCustomer customisations, employee expense
\n
\n
\n
\n
\n
\n
\n5.3
\n248
\n0
\nFinal testing, employee expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n5.3
\n871
\n0
\nDepreciation of final testing equipment
\n
\n
\n
\n
\n
\n
\n
\n
\n8
\n264
\n0
\nChange in inventory obsolescence provision
\n
\n
\n
\n
\n
\n
\n
\n12
\n1 410
\n336
\nTotal Cost of Sales
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 349
\n4 826
\n
\n\n\n\n\n12 Inventories
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\nComponents; mainly wafers (at cost)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n78 837
\n50 143
\nFinished goods; lenses and driver ASICs (at cost)
\n
\n
\n
\n
\n
\n6 195
\n8 968
\nObsolescence provision (expensed as cost of sales)
\n
\n
\n
\n
\n-14 944
\n-13 534
\nTotal inventories at the lower of cost and net realisable value
\n
\n
\n
\n70 089
\n45 577
\n
\nDuring 2023, NOK 1.4 million (2022: NOK 0.3 million) was recognised as an obsolescence expense for inventories carried at net
\nrealisable value. This is recognised in cost of sales (Note 5.1 Cost of Sales).
\n
\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCostOfSalesExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag256": {
"value": "\n
\n\n
\n5.3 Employee benefits expense
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\nIncluded in Research and development expenses:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWages and salaries
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 616
\n10 533
\nConsultants engaged on long-term contracts
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 108
\n8 540
\nSocial security costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 087
\n1 935
\nPension costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n516
\n554
\nOther benefits and social costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n363
\n422
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 053
\n893
\nGrants
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-495
\n-802
\nIncluded in Sales and marketing expenses:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWages and salaries
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n5 054
\n3 354
\nConsultants engaged on long-term contracts
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n6 297
\n3 292
\nSocial security costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n993
\n616
\nPension costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n246
\n176
\nOther benefits and social costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n173
\n135
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 976
\n1 883
\n
\nIncluded in Operational / supply chain expenses:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWages and salaries
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 141
\n1 679
\nConsultants engaged on long-term contracts
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n6 194
\n3 574
\nSocial security costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n421
\n308
\nPension costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n104
\n88
\nOther benefits and social costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n73
\n67
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 188
\n466
\nIncluded in Administrative expenses:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWages and salaries
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 631
\n8 770
\nConsultants engaged on long-term contract
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n238
\n80
\nSocial security costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 090
\n1 611
\nPension costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n516
\n461
\nOther benefits and social costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n363
\n352
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n3 779
\n-3 375
\nTotal employee benefits expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n68 725
\n45 614
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAverage number of man-years, employees
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n23
\n23
\nAverage number of man-years, total
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n38
\n35
\n
\nBonus program
\nAll employees are included in a cash bonus programme, with identical bonus criteria for all employees except the CEO. The bonus is
\ncalculated based on fixed salary, with maximum (for the period 2022-2023) 50% for the CEO, 30% for the other members of the
\nExecutive Management Team, 20% for department managers and 10% for other employees. With effect from 2024 the maximum
\nbonus is 80% for the CEO, 40% for the other members of the Executive Management Team, 20% for department managers and 10%
\nfor other employees. The bonus costs are included in \u201cWages and salaries\u201d and \u201cConsultants engaged on long-term contracts\u201d.
\n
\n\n\n\n\n
\n\n\n\n\n
\nPensions
\npoLight ASA (the Group\u2019s Norwegian company) is subject to the requirements of the Mandatory Occupational Pensions Act, and the
\ncompany\u2019s pension scheme follows the requirements of the Act. As the subsidiaries in France, Finland and China are not subject to
\nmandatory pension schemes in addition to the national insurance schemes, no pension scheme has been established there.
\nThe pension scheme in Norway is based on a defined contribution plan, and the premium is calculated on the basis of the employees\u2019
\nincome. In 2022 and 2023, 7% of the salary between 0G (1G=NOK 118,620) and 7.1G, and 15% of the salary between 7.1G and 12G
\nwas calculated. The period\u2019s contributions are recognised in the Consolidated statement of income.
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nDefined contribution plan
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 299
\n1 195
\nSocial security tax
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n183
\n168
\nTotal pension cost
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 483
\n1 363
\n
\n\nShare option plans (equity-settled)
\nShare options in the parent company are granted to all employees. The exercise price of the share options is equal to, or higher than,
\nthe market price of the underlying shares on the date of grant. The company have two programs.
\nProgram 1: The share options in each agreement are vested over 3 years, and exercisable with 1/36 each month over 3 years,
\nat the expiry of each calendar month, starting at the date of grant. The company is liable for corporate taxes including National
\nInsurance up to 20%.
\nProgram 2: The share options in each agreement are vested over 3 years, and exercisable when fully vested. The employee
\ncovers all corporate taxes including National Insurance.
\nBoth programs are conditional on the employee\u2019s continued employment in poLight.
\nThe share options can be exercised up to two years after the three-year vesting period. Exercisable share options may as a general
\nrule, be exercised and shares issued once per quarter each following the release of poLight ASA\u2019s quarterly reports.
\nShare option expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n8 101
\n4 821
\nEmployer\u2019s national insurance contribution
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 894
\n-4 953
\nRecognised as employee benefits expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n9 996
\n-133
\n
\nThe share options expense includes accrued employer\u2019s national insurance contribution expenses that are calculated based on the
\nnumber of vested share options and a proportion of share options under vesting multiplied by the difference between market price
\nand exercise price at the end for the period.
\nThe board is authorised to issue additional shares - in share option scheme - up to total par value of NOK 264,653 (6,616,322 shares
\nat par value of NOK 0.04).
\n
\n\n\n\n\n
\n\n\n\n\n
\n\nOutstanding share options at December 31, 2023
\nYear
\ngranted
\nAverage Exercise
\nprice (NOK)
\nOutstanding no.
\nof share options
\nExercisable no.
\nof share options
\nRemaining
\ncontractual life
\n(years)
\nTotal expensed
\n(in NOK 000)
\nRemaining
\nestimated expense
\n(in NOK 000)
\n2018
\n10.00
\n1 602 710
\n1 602 710
\n1.49
\n8 588
\n0
\n2019
\n3.78
\n185 545
\n185 545
\n0.47
\n375
\n0
\n2019
\n5.40
\n231 655
\n231 655
\n0.47
\n303
\n0
\n2019
\n6.75
\n323 460
\n323 460
\n0.47
\n262
\n0
\n2020
\n14.98
\n948 335
\n948 335
\n1.67
\n6 482
\n0
\n2021
\n22.80
\n17 361
\n17 361
\n0.33
\n7 332
\n1 402
\n2022
\n21.00
\n0
\n0
\n0
\n1 110
\n525
\n2023
\n21.26
\n1 470 000
\n117 500
\n4.70
\n1 667
\n5 879
\n2023
\n12.82
\n800 000
\n71 556
\n4.75
\n685
\n1 405
\nTotal
\n
\n5 579 066
\n3 498 122
\n
\n26 804
\n9 211
\n
\nThe terms of the stock options imply that exercise windows for exercising stock options shall be opened, normally each quarter after
\nthe presentation of quarterly reports. Throughout the term of these options, the Board has on several occasions not been able to
\nopen such exercise windows. The Board therefore extended the term of previously granted options for a period equivalent to the
\nperiod of exercise windows that have not been opened, or subject to lock-up arrangements. The 1.6 million share options issued in
\n2018 originally expired in October 2023, but was extended by board resolution in August 2023 with 9 months for all share option
\nholders. Additional 6 months extension applied for the share options held by CTO, COO and CFO and additional 18 months extension
\napplied for the share options held by CEO. Fair value of the extended date of exercise was measured using the Black-Scholes option
\npricing model. The fair value was measured to NOK 2.4 million being the difference between i) Fair value of the original scheme
\nmeasured at the time of change of expiry date and ii) Fair value of updated scheme measured at time of change of expiry date. Since
\nthe share options was all vested at the date of the extension all the expense has been recognised in 2023.
\nThe board also offered a replacement share option agreement (after cancellation) to those how got share options at strike 22.80
\n(2021) and 21.00 (2022). 800,000 share options were cancelled and replaced with a new share option agreement at strike 12.82. The
\nfair value of the new share options was measured to NOK 2.1 million net after reduction of the fair value of the cancelled share
\noptions.
\n
\nReconciliation of outstanding share options
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n
\n
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNumber of
\nshare options
\nWAEP
\n
\n
\nNumber of
\nshare options
\nWAEP
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nOutstanding at 1 January
\n
\n
\n
\n
\n
\n
\n4 238 646
\n12.9
\n
\n
\n4 045 865
\n12.4
\nGranted during the year
\n
\n
\n
\n
\n
\n
\n2 270 000
\n12.5
\n
\n
\n220 000
\n21.0
\nForfeited during the year
\n
\n
\n
\n
\n
\n
\n-65 556
\n22.1
\n
\n
\n0
\n
\nCancelled during the year
\n
\n
\n
\n
\n
\n
\n-800 000
\n22.4
\n
\n
\n0
\n
\nExercised during the year
\n
\n
\n
\n
\n
\n
\n-48 330
\n5.9
\n
\n
\n-27 221
\n9.4
\nExpired during the year
\n
\n
\n
\n
\n
\n
\n
\n-15 693
\n14.9
\n
\n
\n0
\n
\nOutstanding at 31 December
\n
\n
\n
\n
\n
\n
\n5 579 066
\n11.3
\n
\n
\n4 238 646
\n12.9
\nIn % of outstanding shares
\n
\n
\n
\n
\n
\n
\n8.43 %
\n
\n
\n
\n8.16 %
\n
\nExercisable at 31 December
\n
\n
\n
\n
\n
\n3 498 122
\n10.6
\n
\n
\n3 275 312
\n10.6
\n
\n\n\n\n\n
\n\n\n\n\n
\n\n
\n\nThe weighted average exercise price (WAEP) for the share options exercised during 2022 was NOK 5.9 (2022: NOK 9.4), and the
\naverage market price at the exercise dates was NOK 12.27 (2022: NOK 25.1).
\nThe weighted average exercise price for the share options outstanding as at 31 December 2023, was NOK 11.3 (2022: NOK 12.9) with
\na range from NOK 3.78 to NOK 22.80. The weighted average remaining contractual life for the share options outstanding as at 31
\nDecember 2023 was 2.69 years (2022: 2.01 years).
\nAt the end of the year, the weighted average exercise price was NOK 10.6 (2022: NOK 10.6) on exercisable options.
\nIn the case of an offeror becomes the owner of at least 9/10 of the issued shares of poLight, all of the unvested share options becomes
\nimmediately vested.
\n
\nShare option valuation
\nThe fair value of the options granted in 2023 has been calculated to NOK 7.5 million excluding social security expenses (2022: NOK
\n1.8 million), by using the Black-Scholes option pricing model.
\nThe basis for the valuation comprises several factors that affect the calculated fair value of granted options. The assumptions used
\nin the calculation was:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nProgram 1
\nProgram 2
\nProgram 1
\nProgram 2
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nPrice at grant date
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNOK 12.15
\nNOK 12.15
\nNOK 20.05
\nNOK 20.05
\nExercise price
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNOK 12.15
\nNOK 12.15
\nNOK 21
\nNOK 21
\nMaximum
\n1)
\n option life
\n
\n
\n
\n
\n
\n
\n
\n5 years
\n5 years
\n5 years
\n5 years
\nAssumed option life
\n2)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2.5 years
\n4 years
\n2.5 years
\n4 years
\nRisk-free interest rate
\n
\n
\n
\n
\n
\n
\n
\n
\n4.1%
\n4.1%
\n3.26%
\n3.26%
\nVolatility
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n60 %
\n60 %
\n60 %
\n60 %
\nFair value per share option
\n
\n
\n
\n
\n
\n
\nNOK 4.8
\nNOK 6.0
\nNOK 7.5
\nNOK 9.5
\n
\n1) The share options expire 5 years from the date of the grant, but any vested options shall be exercised no later than 6
\nmonths after last day of service.
\n2) The option life reflects the vesting time plus one year.
\n
\nExpected vesting is estimated based on employee turnover, and volatility is deemed based on historic volatility.
\n
\nSensitivity analysis
\nThe fair value of the share options granted in 2023 of NOK 7.5 million was determined based on an assumption of a volatility of 60%.
\nAt a volatility of 80%, holding other assumptions constants, would have increased the fair value with NOK 1.9 million over the vesting
\nperiod. A decrease in the assumed lifetime of the share options with 1 year, would have decreased the fair value with NOK 1.4 million
\nover the vesting period.
\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag257": {
"value": "\n
\n5.3 Employee benefits expense
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\nIncluded in Research and development expenses:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWages and salaries
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 616
\n10 533
\nConsultants engaged on long-term contracts
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 108
\n8 540
\nSocial security costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 087
\n1 935
\nPension costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n516
\n554
\nOther benefits and social costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n363
\n422
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 053
\n893
\nGrants
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-495
\n-802
\nIncluded in Sales and marketing expenses:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWages and salaries
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n5 054
\n3 354
\nConsultants engaged on long-term contracts
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n6 297
\n3 292
\nSocial security costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n993
\n616
\nPension costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n246
\n176
\nOther benefits and social costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n173
\n135
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 976
\n1 883
\n
\nIncluded in Operational / supply chain expenses:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWages and salaries
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 141
\n1 679
\nConsultants engaged on long-term contracts
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n6 194
\n3 574
\nSocial security costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n421
\n308
\nPension costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n104
\n88
\nOther benefits and social costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n73
\n67
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 188
\n466
\nIncluded in Administrative expenses:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWages and salaries
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 631
\n8 770
\nConsultants engaged on long-term contract
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n238
\n80
\nSocial security costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 090
\n1 611
\nPension costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n516
\n461
\nOther benefits and social costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n363
\n352
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n3 779
\n-3 375
\nTotal employee benefits expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n68 725
\n45 614
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAverage number of man-years, employees
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n23
\n23
\nAverage number of man-years, total
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n38
\n35
\n
\nBonus program
\nAll employees are included in a cash bonus programme, with identical bonus criteria for all employees except the CEO. The bonus is
\ncalculated based on fixed salary, with maximum (for the period 2022-2023) 50% for the CEO, 30% for the other members of the
\nExecutive Management Team, 20% for department managers and 10% for other employees. With effect from 2024 the maximum
\nbonus is 80% for the CEO, 40% for the other members of the Executive Management Team, 20% for department managers and 10%
\nfor other employees. The bonus costs are included in \u201cWages and salaries\u201d and \u201cConsultants engaged on long-term contracts\u201d.
\n
\n\n\n\n\n
\n\n
\n\n
\n\n
\nPensions
\npoLight ASA (the Group\u2019s Norwegian company) is subject to the requirements of the Mandatory Occupational Pensions Act, and the
\ncompany\u2019s pension scheme follows the requirements of the Act. As the subsidiaries in France, Finland and China are not subject to
\nmandatory pension schemes in addition to the national insurance schemes, no pension scheme has been established there.
\nThe pension scheme in Norway is based on a defined contribution plan, and the premium is calculated on the basis of the employees\u2019
\nincome. In 2022 and 2023, 7% of the salary between 0G (1G=NOK 118,620) and 7.1G, and 15% of the salary between 7.1G and 12G
\nwas calculated. The period\u2019s contributions are recognised in the Consolidated statement of income.
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nDefined contribution plan
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 299
\n1 195
\nSocial security tax
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n183
\n168
\nTotal pension cost
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 483
\n1 363
\n
\n\nShare option plans (equity-settled)
\nShare options in the parent company are granted to all employees. The exercise price of the share options is equal to, or higher than,
\nthe market price of the underlying shares on the date of grant. The company have two programs.
\nProgram 1: The share options in each agreement are vested over 3 years, and exercisable with 1/36 each month over 3 years,
\nat the expiry of each calendar month, starting at the date of grant. The company is liable for corporate taxes including National
\nInsurance up to 20%.
\nProgram 2: The share options in each agreement are vested over 3 years, and exercisable when fully vested. The employee
\ncovers all corporate taxes including National Insurance.
\nBoth programs are conditional on the employee\u2019s continued employment in poLight.
\nThe share options can be exercised up to two years after the three-year vesting period. Exercisable share options may as a general
\nrule, be exercised and shares issued once per quarter each following the release of poLight ASA\u2019s quarterly reports.
\nShare option expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n8 101
\n4 821
\nEmployer\u2019s national insurance contribution
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 894
\n-4 953
\nRecognised as employee benefits expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n9 996
\n-133
\n
\nThe share options expense includes accrued employer\u2019s national insurance contribution expenses that are calculated based on the
\nnumber of vested share options and a proportion of share options under vesting multiplied by the difference between market price
\nand exercise price at the end for the period.
\nThe board is authorised to issue additional shares - in share option scheme - up to total par value of NOK 264,653 (6,616,322 shares
\nat par value of NOK 0.04).
\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n
\n\n
\n\n
\n\nOutstanding share options at December 31, 2023
\nYear
\ngranted
\nAverage Exercise
\nprice (NOK)
\nOutstanding no.
\nof share options
\nExercisable no.
\nof share options
\nRemaining
\ncontractual life
\n(years)
\nTotal expensed
\n(in NOK 000)
\nRemaining
\nestimated expense
\n(in NOK 000)
\n2018
\n10.00
\n1 602 710
\n1 602 710
\n1.49
\n8 588
\n0
\n2019
\n3.78
\n185 545
\n185 545
\n0.47
\n375
\n0
\n2019
\n5.40
\n231 655
\n231 655
\n0.47
\n303
\n0
\n2019
\n6.75
\n323 460
\n323 460
\n0.47
\n262
\n0
\n2020
\n14.98
\n948 335
\n948 335
\n1.67
\n6 482
\n0
\n2021
\n22.80
\n17 361
\n17 361
\n0.33
\n7 332
\n1 402
\n2022
\n21.00
\n0
\n0
\n0
\n1 110
\n525
\n2023
\n21.26
\n1 470 000
\n117 500
\n4.70
\n1 667
\n5 879
\n2023
\n12.82
\n800 000
\n71 556
\n4.75
\n685
\n1 405
\nTotal
\n
\n5 579 066
\n3 498 122
\n
\n26 804
\n9 211
\n
\nThe terms of the stock options imply that exercise windows for exercising stock options shall be opened, normally each quarter after
\nthe presentation of quarterly reports. Throughout the term of these options, the Board has on several occasions not been able to
\nopen such exercise windows. The Board therefore extended the term of previously granted options for a period equivalent to the
\nperiod of exercise windows that have not been opened, or subject to lock-up arrangements. The 1.6 million share options issued in
\n2018 originally expired in October 2023, but was extended by board resolution in August 2023 with 9 months for all share option
\nholders. Additional 6 months extension applied for the share options held by CTO, COO and CFO and additional 18 months extension
\napplied for the share options held by CEO. Fair value of the extended date of exercise was measured using the Black-Scholes option
\npricing model. The fair value was measured to NOK 2.4 million being the difference between i) Fair value of the original scheme
\nmeasured at the time of change of expiry date and ii) Fair value of updated scheme measured at time of change of expiry date. Since
\nthe share options was all vested at the date of the extension all the expense has been recognised in 2023.
\nThe board also offered a replacement share option agreement (after cancellation) to those how got share options at strike 22.80
\n(2021) and 21.00 (2022). 800,000 share options were cancelled and replaced with a new share option agreement at strike 12.82. The
\nfair value of the new share options was measured to NOK 2.1 million net after reduction of the fair value of the cancelled share
\noptions.
\n
\nReconciliation of outstanding share options
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n
\n
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNumber of
\nshare options
\nWAEP
\n
\n
\nNumber of
\nshare options
\nWAEP
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nOutstanding at 1 January
\n
\n
\n
\n
\n
\n
\n4 238 646
\n12.9
\n
\n
\n4 045 865
\n12.4
\nGranted during the year
\n
\n
\n
\n
\n
\n
\n2 270 000
\n12.5
\n
\n
\n220 000
\n21.0
\nForfeited during the year
\n
\n
\n
\n
\n
\n
\n-65 556
\n22.1
\n
\n
\n0
\n
\nCancelled during the year
\n
\n
\n
\n
\n
\n
\n-800 000
\n22.4
\n
\n
\n0
\n
\nExercised during the year
\n
\n
\n
\n
\n
\n
\n-48 330
\n5.9
\n
\n
\n-27 221
\n9.4
\nExpired during the year
\n
\n
\n
\n
\n
\n
\n
\n-15 693
\n14.9
\n
\n
\n0
\n
\nOutstanding at 31 December
\n
\n
\n
\n
\n
\n
\n5 579 066
\n11.3
\n
\n
\n4 238 646
\n12.9
\nIn % of outstanding shares
\n
\n
\n
\n
\n
\n
\n8.43 %
\n
\n
\n
\n8.16 %
\n
\nExercisable at 31 December
\n
\n
\n
\n
\n
\n3 498 122
\n10.6
\n
\n
\n3 275 312
\n10.6
\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n
\n\nThe weighted average exercise price (WAEP) for the share options exercised during 2022 was NOK 5.9 (2022: NOK 9.4), and the
\naverage market price at the exercise dates was NOK 12.27 (2022: NOK 25.1).
\nThe weighted average exercise price for the share options outstanding as at 31 December 2023, was NOK 11.3 (2022: NOK 12.9) with
\na range from NOK 3.78 to NOK 22.80. The weighted average remaining contractual life for the share options outstanding as at 31
\nDecember 2023 was 2.69 years (2022: 2.01 years).
\nAt the end of the year, the weighted average exercise price was NOK 10.6 (2022: NOK 10.6) on exercisable options.
\nIn the case of an offeror becomes the owner of at least 9/10 of the issued shares of poLight, all of the unvested share options becomes
\nimmediately vested.
\n
\nShare option valuation
\nThe fair value of the options granted in 2023 has been calculated to NOK 7.5 million excluding social security expenses (2022: NOK
\n1.8 million), by using the Black-Scholes option pricing model.
\nThe basis for the valuation comprises several factors that affect the calculated fair value of granted options. The assumptions used
\nin the calculation was:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nProgram 1
\nProgram 2
\nProgram 1
\nProgram 2
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nPrice at grant date
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNOK 12.15
\nNOK 12.15
\nNOK 20.05
\nNOK 20.05
\nExercise price
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNOK 12.15
\nNOK 12.15
\nNOK 21
\nNOK 21
\nMaximum
\n1)
\n option life
\n
\n
\n
\n
\n
\n
\n
\n5 years
\n5 years
\n5 years
\n5 years
\nAssumed option life
\n2)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2.5 years
\n4 years
\n2.5 years
\n4 years
\nRisk-free interest rate
\n
\n
\n
\n
\n
\n
\n
\n
\n4.1%
\n4.1%
\n3.26%
\n3.26%
\nVolatility
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n60 %
\n60 %
\n60 %
\n60 %
\nFair value per share option
\n
\n
\n
\n
\n
\n
\nNOK 4.8
\nNOK 6.0
\nNOK 7.5
\nNOK 9.5
\n
\n1) The share options expire 5 years from the date of the grant, but any vested options shall be exercised no later than 6
\nmonths after last day of service.
\n2) The option life reflects the vesting time plus one year.
\n
\nExpected vesting is estimated based on employee turnover, and volatility is deemed based on historic volatility.
\n
\nSensitivity analysis
\nThe fair value of the share options granted in 2023 of NOK 7.5 million was determined based on an assumption of a volatility of 60%.
\nAt a volatility of 80%, holding other assumptions constants, would have increased the fair value with NOK 1.9 million over the vesting
\nperiod. A decrease in the assumed lifetime of the share options with 1 year, would have decreased the fair value with NOK 1.4 million
\nover the vesting period.
\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag255": {
"value": "\nShare option plans (equity-settled)
\nShare options in the parent company are granted to all employees. The exercise price of the share options is equal to, or higher than,
\nthe market price of the underlying shares on the date of grant. The company have two programs.
\nProgram 1: The share options in each agreement are vested over 3 years, and exercisable with 1/36 each month over 3 years,
\nat the expiry of each calendar month, starting at the date of grant. The company is liable for corporate taxes including National
\nInsurance up to 20%.
\nProgram 2: The share options in each agreement are vested over 3 years, and exercisable when fully vested. The employee
\ncovers all corporate taxes including National Insurance.
\nBoth programs are conditional on the employee\u2019s continued employment in poLight.
\nThe share options can be exercised up to two years after the three-year vesting period. Exercisable share options may as a general
\nrule, be exercised and shares issued once per quarter each following the release of poLight ASA\u2019s quarterly reports.
\nShare option expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nShare based compensation costs
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n8 101
\n4 821
\nEmployer\u2019s national insurance contribution
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 894
\n-4 953
\nRecognised as employee benefits expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n9 996
\n-133
\n
\nThe share options expense includes accrued employer\u2019s national insurance contribution expenses that are calculated based on the
\nnumber of vested share options and a proportion of share options under vesting multiplied by the difference between market price
\nand exercise price at the end for the period.
\nThe board is authorised to issue additional shares - in share option scheme - up to total par value of NOK 264,653 (6,616,322 shares
\nat par value of NOK 0.04).
\n
\n\n\n\n\nOutstanding share options at December 31, 2023
\nYear
\ngranted
\nAverage Exercise
\nprice (NOK)
\nOutstanding no.
\nof share options
\nExercisable no.
\nof share options
\nRemaining
\ncontractual life
\n(years)
\nTotal expensed
\n(in NOK 000)
\nRemaining
\nestimated expense
\n(in NOK 000)
\n2018
\n10.00
\n1 602 710
\n1 602 710
\n1.49
\n8 588
\n0
\n2019
\n3.78
\n185 545
\n185 545
\n0.47
\n375
\n0
\n2019
\n5.40
\n231 655
\n231 655
\n0.47
\n303
\n0
\n2019
\n6.75
\n323 460
\n323 460
\n0.47
\n262
\n0
\n2020
\n14.98
\n948 335
\n948 335
\n1.67
\n6 482
\n0
\n2021
\n22.80
\n17 361
\n17 361
\n0.33
\n7 332
\n1 402
\n2022
\n21.00
\n0
\n0
\n0
\n1 110
\n525
\n2023
\n21.26
\n1 470 000
\n117 500
\n4.70
\n1 667
\n5 879
\n2023
\n12.82
\n800 000
\n71 556
\n4.75
\n685
\n1 405
\nTotal
\n
\n5 579 066
\n3 498 122
\n
\n26 804
\n9 211
\n
\nThe terms of the stock options imply that exercise windows for exercising stock options shall be opened, normally each quarter after
\nthe presentation of quarterly reports. Throughout the term of these options, the Board has on several occasions not been able to
\nopen such exercise windows. The Board therefore extended the term of previously granted options for a period equivalent to the
\nperiod of exercise windows that have not been opened, or subject to lock-up arrangements. The 1.6 million share options issued in
\n2018 originally expired in October 2023, but was extended by board resolution in August 2023 with 9 months for all share option
\nholders. Additional 6 months extension applied for the share options held by CTO, COO and CFO and additional 18 months extension
\napplied for the share options held by CEO. Fair value of the extended date of exercise was measured using the Black-Scholes option
\npricing model. The fair value was measured to NOK 2.4 million being the difference between i) Fair value of the original scheme
\nmeasured at the time of change of expiry date and ii) Fair value of updated scheme measured at time of change of expiry date. Since
\nthe share options was all vested at the date of the extension all the expense has been recognised in 2023.
\nThe board also offered a replacement share option agreement (after cancellation) to those how got share options at strike 22.80
\n(2021) and 21.00 (2022). 800,000 share options were cancelled and replaced with a new share option agreement at strike 12.82. The
\nfair value of the new share options was measured to NOK 2.1 million net after reduction of the fair value of the cancelled share
\noptions.
\n
\nReconciliation of outstanding share options
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n
\n
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNumber of
\nshare options
\nWAEP
\n
\n
\nNumber of
\nshare options
\nWAEP
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nOutstanding at 1 January
\n
\n
\n
\n
\n
\n
\n4 238 646
\n12.9
\n
\n
\n4 045 865
\n12.4
\nGranted during the year
\n
\n
\n
\n
\n
\n
\n2 270 000
\n12.5
\n
\n
\n220 000
\n21.0
\nForfeited during the year
\n
\n
\n
\n
\n
\n
\n-65 556
\n22.1
\n
\n
\n0
\n
\nCancelled during the year
\n
\n
\n
\n
\n
\n
\n-800 000
\n22.4
\n
\n
\n0
\n
\nExercised during the year
\n
\n
\n
\n
\n
\n
\n-48 330
\n5.9
\n
\n
\n-27 221
\n9.4
\nExpired during the year
\n
\n
\n
\n
\n
\n
\n
\n-15 693
\n14.9
\n
\n
\n0
\n
\nOutstanding at 31 December
\n
\n
\n
\n
\n
\n
\n5 579 066
\n11.3
\n
\n
\n4 238 646
\n12.9
\nIn % of outstanding shares
\n
\n
\n
\n
\n
\n
\n8.43 %
\n
\n
\n
\n8.16 %
\n
\nExercisable at 31 December
\n
\n
\n
\n
\n
\n3 498 122
\n10.6
\n
\n
\n3 275 312
\n10.6
\n
\n\n\n\n\nThe weighted average exercise price (WAEP) for the share options exercised during 2022 was NOK 5.9 (2022: NOK 9.4), and the
\naverage market price at the exercise dates was NOK 12.27 (2022: NOK 25.1).
\nThe weighted average exercise price for the share options outstanding as at 31 December 2023, was NOK 11.3 (2022: NOK 12.9) with
\na range from NOK 3.78 to NOK 22.80. The weighted average remaining contractual life for the share options outstanding as at 31
\nDecember 2023 was 2.69 years (2022: 2.01 years).
\nAt the end of the year, the weighted average exercise price was NOK 10.6 (2022: NOK 10.6) on exercisable options.
\nIn the case of an offeror becomes the owner of at least 9/10 of the issued shares of poLight, all of the unvested share options becomes
\nimmediately vested.
\n
\nShare option valuation
\nThe fair value of the options granted in 2023 has been calculated to NOK 7.5 million excluding social security expenses (2022: NOK
\n1.8 million), by using the Black-Scholes option pricing model.
\nThe basis for the valuation comprises several factors that affect the calculated fair value of granted options. The assumptions used
\nin the calculation was:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nProgram 1
\nProgram 2
\nProgram 1
\nProgram 2
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nPrice at grant date
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNOK 12.15
\nNOK 12.15
\nNOK 20.05
\nNOK 20.05
\nExercise price
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNOK 12.15
\nNOK 12.15
\nNOK 21
\nNOK 21
\nMaximum
\n1)
\n option life
\n
\n
\n
\n
\n
\n
\n
\n5 years
\n5 years
\n5 years
\n5 years
\nAssumed option life
\n2)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2.5 years
\n4 years
\n2.5 years
\n4 years
\nRisk-free interest rate
\n
\n
\n
\n
\n
\n
\n
\n
\n4.1%
\n4.1%
\n3.26%
\n3.26%
\nVolatility
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n60 %
\n60 %
\n60 %
\n60 %
\nFair value per share option
\n
\n
\n
\n
\n
\n
\nNOK 4.8
\nNOK 6.0
\nNOK 7.5
\nNOK 9.5
\n
\n1) The share options expire 5 years from the date of the grant, but any vested options shall be exercised no later than 6
\nmonths after last day of service.
\n2) The option life reflects the vesting time plus one year.
\n
\nExpected vesting is estimated based on employee turnover, and volatility is deemed based on historic volatility.
\n
\nSensitivity analysis
\nThe fair value of the share options granted in 2023 of NOK 7.5 million was determined based on an assumption of a volatility of 60%.
\nAt a volatility of 80%, holding other assumptions constants, would have increased the fair value with NOK 1.9 million over the vesting
\nperiod. A decrease in the assumed lifetime of the share options with 1 year, would have decreased the fair value with NOK 1.4 million
\nover the vesting period.
\n
\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag261": {
"value": "\n5.4 Research and development expenses
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nEmployee benefits expense (incl. consultants)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n25 743
\n22 878
\nOther operating expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 990
\n14 922
\nGovernment grants
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-2 117
\n-4 892
\nCapitalized
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n0
\n0
\nTotal Research and development expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n34 616
\n32 907
\n
\nResearch and development costs that are not eligible for capitalisation have been expensed in the period incurred and are recognised
\nas Research and development expenses.
\nR&D costs that are expensed, includes R&D management, patents, improvements of the TLens (see Note 14 Government grants),
\nfeasibility study of new concepts, software license and costs related to integration of TLens in new customer applications/products.
\nNone of the activities were eligible for capitalisation during 2023 and 2022 since these have so far been in an early phase from an
\nR&D point of view.
\n
\n\n\n\n\n\n\n\n
\n\n
\n\n10 Development costs
\nThe part of poLight\u2019s IP (intellectual property) that is recognised as an intangible asset, is the fundamental TLens\u00ae technology, which
\ncan become a component in smartphones, wearables, augmented reality and various medical equipment, as well as a wide range of
\nindustrial applications, such as barcode readers and machine vision/sensor applications.
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nCarrying amount
\nbefore
\nimpairment
\nCarrying amount
\nafter impairment
\nAccumulated net
\nimpairment loss
\nCGU: TLens\u00ae technology platform
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAt 31 December 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n43 135
\n
\n24 855
\n
\n18 280
\nAt 31 December 2023
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n35 860
\n
\n17 580
\n
\n18 280
\n
\nThe TLens\u00ae technology platform is poLight\u2019s major asset. In January 2020, the first product using TLens Silver was launched within
\nthe consumer market segment. A smartwatch phone for children, with a main camera with an advanced autofocus (AF) function
\ndelivered by poLight. Since then, additional 14 design-wins have been achieved. Additional three in consumer products, one web cam
\na second smartwatch and in January 2023 the first design-win in smartphone. poLight has also achieve several design wins in industrial
\nproducts like barcode, augmented reality (AR) and medical.
\nThe company has one major asset, the TLens\u00ae technology platform and the management has evaluated that the group as a whole is
\none CGU for impairment testing. The remaining carrying value of development costs are NOK 17.6 million and are related to TLens\u00ae
\ntechnology platform, that includes the ASIC driver. Indicators of impairment of the TLens \u00ae technology platform have been reviewed,
\nand none identified.
\nTLens\u00ae Platinum, that is a larger version of the TLens\u00ae is still under development. Engineering samples have been produced and have
\nalready been tested by some potential customers. However, activity to prepare TLens\u00ae Platinum for mass production has been put
\non hold until the product is closer to the anticipated market breakthrough. In December 2019 a management assessment was made
\n
\n\n\n\n\n\n
\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n\n
\n\nand an impairment charge of NOK 18.3 million was recognised related to this product, reducing the carrying amount to NOK 0. This
\nvariant of the TLens\u00ae, is still on the technological road map, and is planned to be continued when the product has sufficient customer
\ncommitment.
\nIn addition, management has evaluated that the equity value of the company is an indication of the fair value of the CGU. The
\ncompany\u2019s shares are listed on Oslo Stock exchange, and fair value is estimated based on the observed share price. The fair value
\nmeasurement is categorized within level 2 of the fair value hierarchy in accordance with IFRS 13. It is considerable headroom between
\nthe carrying value and the fair value less cost of disposal.
\n
\n\n\n\n\n\n
\n\n\n\n\n\n
\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfResearchAndDevelopmentExpenseExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag262": {
"value": "\n5.7 Administrative expenses
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nEmployee benefits expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n17 617
\n7 900
\nOther operating expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 347
\n4 168
\nTotal Administrative expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n21 964
\n12 068
\n
\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag263": {
"value": "\n5.8 Auditor's remuneration
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAudit fee
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 528
\n798
\nAudit related fee
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n309
\n34
\nTax fee
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n66
\n30
\nOther service fee
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n128
\n68
\nTotal Auditor's remuneration
\n(excluding VAT)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 031
\n930
\n
\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag264": {
"value": "\n
\n\n
\n\n
\n\n
\n\n
\n\n5.9 Financial items
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nInterest income
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 518
\n2 249
\nFinance income
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 518
\n2 249
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNet foreign exchange losses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 020
\n385
\nInterest expense on lease liabilities
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n259
\n330
\nFinance expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n16
\n38
\nFinance cost
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 295
\n753
\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag265": {
"value": "\n
\n\n
\n\n
\n\n
\n\n5.9 Financial items
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nInterest income
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 518
\n2 249
\nFinance income
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 518
\n2 249
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNet foreign exchange losses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 020
\n385
\nInterest expense on lease liabilities
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n259
\n330
\nFinance expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n16
\n38
\nFinance cost
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 295
\n753
\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag266": {
"value": "\n
\n\n
\n\n
\n\n5.9 Financial items
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nInterest income
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 518
\n2 249
\nFinance income
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 518
\n2 249
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNet foreign exchange losses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 020
\n385
\nInterest expense on lease liabilities
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n259
\n330
\nFinance expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n16
\n38
\nFinance cost
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 295
\n753
\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag267": {
"value": "\n
\n\n
\n\n5.9 Financial items
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nInterest income
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 518
\n2 249
\nFinance income
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 518
\n2 249
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNet foreign exchange losses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 020
\n385
\nInterest expense on lease liabilities
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n259
\n330
\nFinance expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n16
\n38
\nFinance cost
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 295
\n753
\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag268": {
"value": "\n
\n\n5.9 Financial items
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nInterest income
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 518
\n2 249
\nFinance income
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 518
\n2 249
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNet foreign exchange losses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 020
\n385
\nInterest expense on lease liabilities
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n259
\n330
\nFinance expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n16
\n38
\nFinance cost
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 295
\n753
\n
\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag269": {
"value": "\n5.9 Financial items
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nInterest income
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 518
\n2 249
\nFinance income
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 518
\n2 249
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNet foreign exchange losses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 020
\n385
\nInterest expense on lease liabilities
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n259
\n330
\nFinance expenses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n16
\n38
\nFinance cost
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 295
\n753
\n
\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag270": {
"value": "\n
\n\n6 Income tax
\nThe significant components of income tax expense are:
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nConsolidated statement of profit or loss
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nCurrent income tax expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n220
\n242
\nDeferred tax:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nRelating to origination and reversal of temporary differences
\n
\n
\n
\n
\n
\n
\n0
\n0
\nIncome tax expense reported in the statement of profit or loss
\n
\n
\n
\n
\n
\n
\n
\n220
\n242
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nA reconciliation between tax expense and the product of accounting profit multiplied by Norway\u2019s domestic tax rate is as follows:
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nCalculated income tax at statutory rate of 22%
\n
\n
\n
\n
\n
\n-18 759
\n-14 882
\nGovernment grants exempt from tax
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-466
\n-1 015
\nTax effect of permanent differences
\n1)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 053
\n-41
\nChange in unrecognised deferred tax assets
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n14 162
\n16 280
\nChange in tax rate
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n3 314
\n0
\nEffect of different tax rates compared with Norwegian tax rate
\n
\n
\n
\n
\n
\n
\n43
\n-71
\nForeign currency effects
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n14
\n-28
\nAdjustments previous year
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-142
\n0
\nIncome tax expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n220
\n242
\nEffective tax rate
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n0.3 %
\n0.4 %
\n1) Includes tax effect of share option expense, see Note 5.3 Employee benefits expense.
\n
\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n\nMovements in deferred tax balances
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nBalance at 31 December
\n2023
\n(in NOK 000)
\n
\n
\n
\n
\nNet balance at
\n1 January
\nRecognised in
\nprofit or loss
\nRecognised in
\nOCI
\nNet
\nDeferred tax
\nassets
\nDeferred tax
\nliabilities
\nProperty, plant and equipment
\n4
\n-91
\n0
\n-87
\n-87
\n0
\nIntangible assets
\n
\n
\n5 166
\n-135
\n0
\n5 031
\n5 031
\n0
\nInventories
\n
\n
\n
\n
\n2 978
\n310
\n0
\n3 288
\n3 288
\n0
\nGroup loan
\n
\n
\n
\n
\n-1 387
\n0
\n-445
\n-1 833
\n0
\n-1 833
\nProvisions
\n
\n
\n
\n
\n220
\n0
\n0
\n220
\n220
\n0
\nTax losses carried forward
\n162 522
\n19 580
\n0
\n182 101
\n182 101
\n0
\nTax assets (liabilities) before
\nset-off
\n169 502
\n19 664
\n-445
\n188 720
\n190 553
\n-1 833
\nSet-off of tax
\n
\n
\n
\n
\n
\n
\n
\n0
\n-1 833
\n1 833
\nUnrecognised deferred tax
\nassets
\n-169 502
\n-19 664
\n445
\n-188 720
\n-188 720
\n
\nNet tax assets (liabilities)
\n0
\n0
\n0
\n0
\n0
\n0
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nBalance at 31 December
\n2022
\n(in NOK 000)
\n
\n
\n
\n
\nNet balance
\nat 1 January
\nRecognised
\nin profit or
\nloss
\nRecognised
\nin OCI
\nNet
\nDeferred tax
\nassets
\nDeferred tax
\nliabilities
\nProperty, plant and equipment
\n427
\n-423
\n0
\n4
\n4
\n0
\nIntangible assets
\n
\n
\n5 301
\n-135
\n0
\n5 166
\n5 166
\n0
\nInventories
\n
\n
\n
\n
\n2 903
\n74
\n0
\n2 978
\n2 978
\n0
\nGroup loan
\n
\n
\n
\n
\n-1 070
\n0
\n-318
\n-1 387
\n0
\n-1 387
\nProvisions
\n
\n
\n
\n
\n110
\n110
\n0
\n220
\n220
\n0
\nTax losses carried forward
\n145 452
\n17 070
\n0
\n162 522
\n162 522
\n0
\nTax assets (liabilities) before set-
\noff
\n153 123
\n16 696
\n-318
\n169 502
\n170 889
\n-1 387
\nSet-off of tax
\n
\n
\n
\n
\n
\n
\n
\n0
\n-1 387
\n1 387
\nUnrecognised deferred tax assets
\n-153 123
\n-16 696
\n318
\n-169 502
\n-169 502
\n
\nNet tax assets (liabilities)
\n0
\n0
\n0
\n0
\n0
\n0
\n
\nSince the Group is still in an early commercialisation phase with significant losses, no deferred tax assets have been recognized.
\nTotal unrecognised deferred tax assets net, relate to
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNorway (no expiry date)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n184 398
\n162 193
\nFrance (no expiry date)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 322
\n7 309
\nTotal unrecognised deferred tax assets
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n188 720
\n169 502
\n
\n\n\n\n\n\n\n
\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag271": {
"value": "\n6 Income tax
\nThe significant components of income tax expense are:
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nConsolidated statement of profit or loss
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nCurrent income tax expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n220
\n242
\nDeferred tax:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nRelating to origination and reversal of temporary differences
\n
\n
\n
\n
\n
\n
\n0
\n0
\nIncome tax expense reported in the statement of profit or loss
\n
\n
\n
\n
\n
\n
\n
\n220
\n242
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nA reconciliation between tax expense and the product of accounting profit multiplied by Norway\u2019s domestic tax rate is as follows:
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nCalculated income tax at statutory rate of 22%
\n
\n
\n
\n
\n
\n-18 759
\n-14 882
\nGovernment grants exempt from tax
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-466
\n-1 015
\nTax effect of permanent differences
\n1)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 053
\n-41
\nChange in unrecognised deferred tax assets
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n14 162
\n16 280
\nChange in tax rate
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n3 314
\n0
\nEffect of different tax rates compared with Norwegian tax rate
\n
\n
\n
\n
\n
\n
\n43
\n-71
\nForeign currency effects
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n14
\n-28
\nAdjustments previous year
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-142
\n0
\nIncome tax expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n220
\n242
\nEffective tax rate
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n0.3 %
\n0.4 %
\n1) Includes tax effect of share option expense, see Note 5.3 Employee benefits expense.
\n
\n\n\n\n\n\n\nMovements in deferred tax balances
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nBalance at 31 December
\n2023
\n(in NOK 000)
\n
\n
\n
\n
\nNet balance at
\n1 January
\nRecognised in
\nprofit or loss
\nRecognised in
\nOCI
\nNet
\nDeferred tax
\nassets
\nDeferred tax
\nliabilities
\nProperty, plant and equipment
\n4
\n-91
\n0
\n-87
\n-87
\n0
\nIntangible assets
\n
\n
\n5 166
\n-135
\n0
\n5 031
\n5 031
\n0
\nInventories
\n
\n
\n
\n
\n2 978
\n310
\n0
\n3 288
\n3 288
\n0
\nGroup loan
\n
\n
\n
\n
\n-1 387
\n0
\n-445
\n-1 833
\n0
\n-1 833
\nProvisions
\n
\n
\n
\n
\n220
\n0
\n0
\n220
\n220
\n0
\nTax losses carried forward
\n162 522
\n19 580
\n0
\n182 101
\n182 101
\n0
\nTax assets (liabilities) before
\nset-off
\n169 502
\n19 664
\n-445
\n188 720
\n190 553
\n-1 833
\nSet-off of tax
\n
\n
\n
\n
\n
\n
\n
\n0
\n-1 833
\n1 833
\nUnrecognised deferred tax
\nassets
\n-169 502
\n-19 664
\n445
\n-188 720
\n-188 720
\n
\nNet tax assets (liabilities)
\n0
\n0
\n0
\n0
\n0
\n0
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nBalance at 31 December
\n2022
\n(in NOK 000)
\n
\n
\n
\n
\nNet balance
\nat 1 January
\nRecognised
\nin profit or
\nloss
\nRecognised
\nin OCI
\nNet
\nDeferred tax
\nassets
\nDeferred tax
\nliabilities
\nProperty, plant and equipment
\n427
\n-423
\n0
\n4
\n4
\n0
\nIntangible assets
\n
\n
\n5 301
\n-135
\n0
\n5 166
\n5 166
\n0
\nInventories
\n
\n
\n
\n
\n2 903
\n74
\n0
\n2 978
\n2 978
\n0
\nGroup loan
\n
\n
\n
\n
\n-1 070
\n0
\n-318
\n-1 387
\n0
\n-1 387
\nProvisions
\n
\n
\n
\n
\n110
\n110
\n0
\n220
\n220
\n0
\nTax losses carried forward
\n145 452
\n17 070
\n0
\n162 522
\n162 522
\n0
\nTax assets (liabilities) before set-
\noff
\n153 123
\n16 696
\n-318
\n169 502
\n170 889
\n-1 387
\nSet-off of tax
\n
\n
\n
\n
\n
\n
\n
\n0
\n-1 387
\n1 387
\nUnrecognised deferred tax assets
\n-153 123
\n-16 696
\n318
\n-169 502
\n-169 502
\n
\nNet tax assets (liabilities)
\n0
\n0
\n0
\n0
\n0
\n0
\n
\nSince the Group is still in an early commercialisation phase with significant losses, no deferred tax assets have been recognized.
\nTotal unrecognised deferred tax assets net, relate to
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNorway (no expiry date)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n184 398
\n162 193
\nFrance (no expiry date)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 322
\n7 309
\nTotal unrecognised deferred tax assets
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n188 720
\n169 502
\n
\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag272": {
"value": "\n7 Earnings per share
\nBasic earnings per share (EPS) is calculated by dividing the profit or loss for the year attributable to ordinary equity holders of the
\nparent, by the weighted average number of shares outstanding during the year.
\nThe following table reflects the income and share data used in the basic and diluted EPS computations:
\n
\n\n\n\n\n\n\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWeighted average number of ordinary shares for basic EPS
\n
\n
\n
\n
\n
\n
\n61 045 873
\n51 939 025
\nEffect of dilution:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nShare options in-the-money (average)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 883 370
\n3 073 867
\nAnti-dilutive for the periods presented
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-2 883 370
\n-3 073 867
\nWeighted average number of shares adjusted for the effect of dilution
\n
\n
\n
\n
\n61 045 873
\n51 939 025
\n
\nFully vested and Exercisable share options have no dilution effect on EPS computations, because this would have decreased loss per
\nshare.
\nThere have been no other transactions involving ordinary shares, or potential ordinary shares, between the reporting date and the
\ndate of authorisation of these financial statements.
\n
\n(in NOK)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nProfit / loss (-) attributable to ordinary equity holders of the parent
\n
\n
\n
\n
\n-85 489
\n-67 886
\nEarnings per share for income attributable to equity holders of poLight:
\n
\n
\n
\n
\n
\nBasic
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-1.40
\n-1.31
\nDiluted
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-1.40
\n-1.31
\n
\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag273": {
"value": "\n
\n\n
\n\n8 Property, plant and equipment
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nBuilding
\nEquipment
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nCost at 1 January 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 126
\n12 861
\n13 987
\nAdditions
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n106
\n9 096
\n9 202
\nForeign currency translation effect
\n0
\n124
\n124
\nCost at 31 December 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 232
\n22 081
\n23 313
\nAccumulated depreciation and impairment losses at 1 January 2022
\n-113
\n-11 518
\n-11 631
\nDepreciation
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-236
\n-482
\n-717
\nImpairment losses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n0
\n-94
\n-94
\nEffect of changes in foreign exchange
\n0
\n-122
\n-122
\nAccumulated depreciation and impairment losses at 31 December 2022
\n-348
\n-12 217
\n-12 565
\nNet book value at 31 December 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n884
\n9 864
\n10 748
\n
\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n\n
\n\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nBuilding
\nEquipment
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nCost at 1 January 2023
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 232
\n22 081
\n23 313
\nAdditions
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n16
\n371
\n387
\nDisposals at cost
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n0
\n-472
\n-472
\nForeign currency translation effect
\n0
\n144
\n144
\nCost at 31 December 2023
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 248
\n22 123
\n23 371
\nAccumulated depreciation and impairment losses at 1 January 2023
\n-348
\n-12 217
\n-12 565
\nDepreciation
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-249
\n-1 303
\n-1 552
\nImpairment losses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n0
\n0
\n0
\nAccumulated depreciation and impairment losses disposals
\n0
\n94
\n94
\nEffect of changes in foreign exchange
\n0
\n-108
\n-108
\nAccumulated depreciation and impairment losses at 31 December 2023
\n-598
\n-13 533
\n-14 131
\nNet book value at 31 December 2023
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n650
\n8 590
\n9 240
\nEstimated useful lives (years)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1)
\n3-7
\n
\n
\n1) Modifications and upgrades in leased premises are depreciated over the leasing period that is estimated to 5 years (including an
\noption to extend the lease with 2 years).
\n
\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag274": {
"value": "\n
\n\n8 Property, plant and equipment
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nBuilding
\nEquipment
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nCost at 1 January 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 126
\n12 861
\n13 987
\nAdditions
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n106
\n9 096
\n9 202
\nForeign currency translation effect
\n0
\n124
\n124
\nCost at 31 December 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 232
\n22 081
\n23 313
\nAccumulated depreciation and impairment losses at 1 January 2022
\n-113
\n-11 518
\n-11 631
\nDepreciation
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-236
\n-482
\n-717
\nImpairment losses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n0
\n-94
\n-94
\nEffect of changes in foreign exchange
\n0
\n-122
\n-122
\nAccumulated depreciation and impairment losses at 31 December 2022
\n-348
\n-12 217
\n-12 565
\nNet book value at 31 December 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n884
\n9 864
\n10 748
\n
\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nBuilding
\nEquipment
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nCost at 1 January 2023
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 232
\n22 081
\n23 313
\nAdditions
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n16
\n371
\n387
\nDisposals at cost
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n0
\n-472
\n-472
\nForeign currency translation effect
\n0
\n144
\n144
\nCost at 31 December 2023
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 248
\n22 123
\n23 371
\nAccumulated depreciation and impairment losses at 1 January 2023
\n-348
\n-12 217
\n-12 565
\nDepreciation
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-249
\n-1 303
\n-1 552
\nImpairment losses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n0
\n0
\n0
\nAccumulated depreciation and impairment losses disposals
\n0
\n94
\n94
\nEffect of changes in foreign exchange
\n0
\n-108
\n-108
\nAccumulated depreciation and impairment losses at 31 December 2023
\n-598
\n-13 533
\n-14 131
\nNet book value at 31 December 2023
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n650
\n8 590
\n9 240
\nEstimated useful lives (years)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1)
\n3-7
\n
\n
\n1) Modifications and upgrades in leased premises are depreciated over the leasing period that is estimated to 5 years (including an
\noption to extend the lease with 2 years).
\n
\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n\n9 Intangible assets
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nDevelopment costs
\nand TLens patents
\nSoftware
\nlicense
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nCost at 1 January 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n78 184
\n181
\n78 365
\nCost at 31 December 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n78 184
\n181
\n78 365
\nAccumulated amortisation and impairment losses at 1 January 2022
\n
\n
\n-44 807
\n-181
\n-44 988
\nAmortisation
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-8 522
\n0
\n-8 522
\nAccumulated amortisation and impairment losses at 31 December
\n2022
\n
\n
\n-53 329
\n-181
\n-53 511
\nNet book value at 31 December 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n24 855
\n0
\n24 855
\n
\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nDevelopment costs
\nand TLens patents
\nSoftware
\nlicense
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nCost at 1 January 2023
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n78 184
\n181
\n78 365
\nCost at 31 December 2023
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n78 184
\n181
\n78 365
\nAccumulated amortisation and impairment losses at 1 January 2023
\n
\n
\n-53 329
\n-181
\n-53 511
\nAmortisation
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-7 275
\n0
\n-7 275
\nAccumulated amortisation and impairment losses at 31 December
\n2023
\n
\n
\n-60 604
\n-181
\n-60 785
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNet book value at 31 December 2023
\n
\n
\n
\n
\n
\n
\n
\n
\n17 580
\n0
\n17 580
\n
\nIntangible assets with finite useful lives, are amortised systematically over their estimated useful lives, ranging between 3 and 7 years.
\nIn 2008/2009, poLight acquired the core patents of the TLens\u00ae technology for NOK 5 million. The patents were granted in 10 different
\ncountries in 2006. poLight has since invested substantial resources in research and product development of the TLens\u00ae.
\npoLight started amortising capitalised development costs for TLens Silver and the related ASIC driver in the second quarter of 2019
\nas they became ready for commercial shipments. The useful lives are deemed to be 7 years which correlates with the remaining
\nnumber of years of the first patent.
\nResearch and development costs that are not eligible for capitalisation have been expensed in the period incurred and are recognised
\nin Research and development expenses net of government grants received.
\n
\n\n\n\n\n\n
\n\n\n\n\n\n\n11 Lease agreements
\npoLight has entered into leases with regards to premises and office equipment used in its operations. In Norway, the company leases
\nlab facilities, including a clean room, and offices are leased in Norway, Finland and China. The premises in Norway comprises 852
\nsquare meters. The contract expires in July 2024 with an option to extend the lease agreement with additional 2 years. The option is
\nassumed to be utilised determining the lease period, increasing the lease assets and liabilities.
\nThe office lease terms in Finland and China are terminable by both lessee and lessor with twelve months\u2019 notice or less. The leases
\nof office equipment are with low value. The Group applies the \u2018short-term lease\u2019 and \u2018lease of low-value assets\u2019 recognition
\nexemptions for these leases.
\nSet out below are the carrying amounts of right-of-use assets recognised and the movements during the period:
\nBuilding
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAt 1 January
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n3 871
\n4 778
\nAdditions
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n152
\n159
\nDepreciation expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-1 108
\n-1 066
\nAt 31 December
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 915
\n3 871
\n
\nSet out below are the carrying amounts of lease liabilities and the movements during the period:
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAt 1 January
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 070
\n4 876
\nAdditions
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n152
\n159
\nTermination of contract
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n0
\n0
\nInterest expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n259
\n330
\nPayments
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-1 348
\n-1 295
\nAt 31 December
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n3 133
\n4 070
\nCurrent, < 1 year
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 182
\n1 100
\nNon-current
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 951
\n2 970
\n
\nThe maturity analysis of lease liabilities are disclosed in Note 13.2 Financial liabilities.
\n
\n\n\n\n\n\nThe following are the amounts recognised in profit or loss:
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nDepreciation expense of right-of-use assets
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 108
\n1 066
\nInterest expense on lease liabilities
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n259
\n330
\nExpense relating to short-term leases (included in research and development expenses)
\n529
\n407
\nExpense relating to short-term leases (included in sales and marketing expenses)
\n89
\n769
\nExpense relating to leases of low-value assets (included in administrative expenses)
\n42
\n46
\nTotal amount recognised in profit or loss
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 026
\n2 617
\n
\nThe Group had total cash outflows for leases of NOK 2 007 in 2023 (2022: NOK 2 516). The Group also had non-cash additions to
\nright-of-use assets and lease liabilities of NOK 152 in 2023 (2022: NOK 159). The addition is attributable to the yearly adjustment in
\nlease payment for the company\u2019s headquarters in Horten.
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag275": {
"value": "\n8 Property, plant and equipment
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nBuilding
\nEquipment
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nCost at 1 January 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 126
\n12 861
\n13 987
\nAdditions
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n106
\n9 096
\n9 202
\nForeign currency translation effect
\n0
\n124
\n124
\nCost at 31 December 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 232
\n22 081
\n23 313
\nAccumulated depreciation and impairment losses at 1 January 2022
\n-113
\n-11 518
\n-11 631
\nDepreciation
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-236
\n-482
\n-717
\nImpairment losses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n0
\n-94
\n-94
\nEffect of changes in foreign exchange
\n0
\n-122
\n-122
\nAccumulated depreciation and impairment losses at 31 December 2022
\n-348
\n-12 217
\n-12 565
\nNet book value at 31 December 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n884
\n9 864
\n10 748
\n
\n\n\n\n\n\n\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nBuilding
\nEquipment
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nCost at 1 January 2023
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 232
\n22 081
\n23 313
\nAdditions
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n16
\n371
\n387
\nDisposals at cost
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n0
\n-472
\n-472
\nForeign currency translation effect
\n0
\n144
\n144
\nCost at 31 December 2023
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 248
\n22 123
\n23 371
\nAccumulated depreciation and impairment losses at 1 January 2023
\n-348
\n-12 217
\n-12 565
\nDepreciation
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-249
\n-1 303
\n-1 552
\nImpairment losses
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n0
\n0
\n0
\nAccumulated depreciation and impairment losses disposals
\n0
\n94
\n94
\nEffect of changes in foreign exchange
\n0
\n-108
\n-108
\nAccumulated depreciation and impairment losses at 31 December 2023
\n-598
\n-13 533
\n-14 131
\nNet book value at 31 December 2023
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n650
\n8 590
\n9 240
\nEstimated useful lives (years)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1)
\n3-7
\n
\n
\n1) Modifications and upgrades in leased premises are depreciated over the leasing period that is estimated to 5 years (including an
\noption to extend the lease with 2 years).
\n
\n\n\n\n\n\n\n9 Intangible assets
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nDevelopment costs
\nand TLens patents
\nSoftware
\nlicense
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nCost at 1 January 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n78 184
\n181
\n78 365
\nCost at 31 December 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n78 184
\n181
\n78 365
\nAccumulated amortisation and impairment losses at 1 January 2022
\n
\n
\n-44 807
\n-181
\n-44 988
\nAmortisation
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-8 522
\n0
\n-8 522
\nAccumulated amortisation and impairment losses at 31 December
\n2022
\n
\n
\n-53 329
\n-181
\n-53 511
\nNet book value at 31 December 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n24 855
\n0
\n24 855
\n
\n\n\n\n\n\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nDevelopment costs
\nand TLens patents
\nSoftware
\nlicense
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nCost at 1 January 2023
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n78 184
\n181
\n78 365
\nCost at 31 December 2023
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n78 184
\n181
\n78 365
\nAccumulated amortisation and impairment losses at 1 January 2023
\n
\n
\n-53 329
\n-181
\n-53 511
\nAmortisation
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-7 275
\n0
\n-7 275
\nAccumulated amortisation and impairment losses at 31 December
\n2023
\n
\n
\n-60 604
\n-181
\n-60 785
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNet book value at 31 December 2023
\n
\n
\n
\n
\n
\n
\n
\n
\n17 580
\n0
\n17 580
\n
\nIntangible assets with finite useful lives, are amortised systematically over their estimated useful lives, ranging between 3 and 7 years.
\nIn 2008/2009, poLight acquired the core patents of the TLens\u00ae technology for NOK 5 million. The patents were granted in 10 different
\ncountries in 2006. poLight has since invested substantial resources in research and product development of the TLens\u00ae.
\npoLight started amortising capitalised development costs for TLens Silver and the related ASIC driver in the second quarter of 2019
\nas they became ready for commercial shipments. The useful lives are deemed to be 7 years which correlates with the remaining
\nnumber of years of the first patent.
\nResearch and development costs that are not eligible for capitalisation have been expensed in the period incurred and are recognised
\nin Research and development expenses net of government grants received.
\n
\n\n\n\n\n\n10 Development costs
\nThe part of poLight\u2019s IP (intellectual property) that is recognised as an intangible asset, is the fundamental TLens\u00ae technology, which
\ncan become a component in smartphones, wearables, augmented reality and various medical equipment, as well as a wide range of
\nindustrial applications, such as barcode readers and machine vision/sensor applications.
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nCarrying amount
\nbefore
\nimpairment
\nCarrying amount
\nafter impairment
\nAccumulated net
\nimpairment loss
\nCGU: TLens\u00ae technology platform
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAt 31 December 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n43 135
\n
\n24 855
\n
\n18 280
\nAt 31 December 2023
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n35 860
\n
\n17 580
\n
\n18 280
\n
\nThe TLens\u00ae technology platform is poLight\u2019s major asset. In January 2020, the first product using TLens Silver was launched within
\nthe consumer market segment. A smartwatch phone for children, with a main camera with an advanced autofocus (AF) function
\ndelivered by poLight. Since then, additional 14 design-wins have been achieved. Additional three in consumer products, one web cam
\na second smartwatch and in January 2023 the first design-win in smartphone. poLight has also achieve several design wins in industrial
\nproducts like barcode, augmented reality (AR) and medical.
\nThe company has one major asset, the TLens\u00ae technology platform and the management has evaluated that the group as a whole is
\none CGU for impairment testing. The remaining carrying value of development costs are NOK 17.6 million and are related to TLens\u00ae
\ntechnology platform, that includes the ASIC driver. Indicators of impairment of the TLens \u00ae technology platform have been reviewed,
\nand none identified.
\nTLens\u00ae Platinum, that is a larger version of the TLens\u00ae is still under development. Engineering samples have been produced and have
\nalready been tested by some potential customers. However, activity to prepare TLens\u00ae Platinum for mass production has been put
\non hold until the product is closer to the anticipated market breakthrough. In December 2019 a management assessment was made
\n
\n\n\n\n\n\nand an impairment charge of NOK 18.3 million was recognised related to this product, reducing the carrying amount to NOK 0. This
\nvariant of the TLens\u00ae, is still on the technological road map, and is planned to be continued when the product has sufficient customer
\ncommitment.
\nIn addition, management has evaluated that the equity value of the company is an indication of the fair value of the CGU. The
\ncompany\u2019s shares are listed on Oslo Stock exchange, and fair value is estimated based on the observed share price. The fair value
\nmeasurement is categorized within level 2 of the fair value hierarchy in accordance with IFRS 13. It is considerable headroom between
\nthe carrying value and the fair value less cost of disposal.
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag276": {
"value": "\n
\n\n
\n\n9 Intangible assets
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nDevelopment costs
\nand TLens patents
\nSoftware
\nlicense
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nCost at 1 January 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n78 184
\n181
\n78 365
\nCost at 31 December 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n78 184
\n181
\n78 365
\nAccumulated amortisation and impairment losses at 1 January 2022
\n
\n
\n-44 807
\n-181
\n-44 988
\nAmortisation
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-8 522
\n0
\n-8 522
\nAccumulated amortisation and impairment losses at 31 December
\n2022
\n
\n
\n-53 329
\n-181
\n-53 511
\nNet book value at 31 December 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n24 855
\n0
\n24 855
\n
\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n\n
\n\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nDevelopment costs
\nand TLens patents
\nSoftware
\nlicense
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nCost at 1 January 2023
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n78 184
\n181
\n78 365
\nCost at 31 December 2023
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n78 184
\n181
\n78 365
\nAccumulated amortisation and impairment losses at 1 January 2023
\n
\n
\n-53 329
\n-181
\n-53 511
\nAmortisation
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-7 275
\n0
\n-7 275
\nAccumulated amortisation and impairment losses at 31 December
\n2023
\n
\n
\n-60 604
\n-181
\n-60 785
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNet book value at 31 December 2023
\n
\n
\n
\n
\n
\n
\n
\n
\n17 580
\n0
\n17 580
\n
\nIntangible assets with finite useful lives, are amortised systematically over their estimated useful lives, ranging between 3 and 7 years.
\nIn 2008/2009, poLight acquired the core patents of the TLens\u00ae technology for NOK 5 million. The patents were granted in 10 different
\ncountries in 2006. poLight has since invested substantial resources in research and product development of the TLens\u00ae.
\npoLight started amortising capitalised development costs for TLens Silver and the related ASIC driver in the second quarter of 2019
\nas they became ready for commercial shipments. The useful lives are deemed to be 7 years which correlates with the remaining
\nnumber of years of the first patent.
\nResearch and development costs that are not eligible for capitalisation have been expensed in the period incurred and are recognised
\nin Research and development expenses net of government grants received.
\n
\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n\n10 Development costs
\nThe part of poLight\u2019s IP (intellectual property) that is recognised as an intangible asset, is the fundamental TLens\u00ae technology, which
\ncan become a component in smartphones, wearables, augmented reality and various medical equipment, as well as a wide range of
\nindustrial applications, such as barcode readers and machine vision/sensor applications.
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nCarrying amount
\nbefore
\nimpairment
\nCarrying amount
\nafter impairment
\nAccumulated net
\nimpairment loss
\nCGU: TLens\u00ae technology platform
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAt 31 December 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n43 135
\n
\n24 855
\n
\n18 280
\nAt 31 December 2023
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n35 860
\n
\n17 580
\n
\n18 280
\n
\nThe TLens\u00ae technology platform is poLight\u2019s major asset. In January 2020, the first product using TLens Silver was launched within
\nthe consumer market segment. A smartwatch phone for children, with a main camera with an advanced autofocus (AF) function
\ndelivered by poLight. Since then, additional 14 design-wins have been achieved. Additional three in consumer products, one web cam
\na second smartwatch and in January 2023 the first design-win in smartphone. poLight has also achieve several design wins in industrial
\nproducts like barcode, augmented reality (AR) and medical.
\nThe company has one major asset, the TLens\u00ae technology platform and the management has evaluated that the group as a whole is
\none CGU for impairment testing. The remaining carrying value of development costs are NOK 17.6 million and are related to TLens\u00ae
\ntechnology platform, that includes the ASIC driver. Indicators of impairment of the TLens \u00ae technology platform have been reviewed,
\nand none identified.
\nTLens\u00ae Platinum, that is a larger version of the TLens\u00ae is still under development. Engineering samples have been produced and have
\nalready been tested by some potential customers. However, activity to prepare TLens\u00ae Platinum for mass production has been put
\non hold until the product is closer to the anticipated market breakthrough. In December 2019 a management assessment was made
\n
\n\n\n\n\n\n
\n\n\n\n\n\n
\n\nand an impairment charge of NOK 18.3 million was recognised related to this product, reducing the carrying amount to NOK 0. This
\nvariant of the TLens\u00ae, is still on the technological road map, and is planned to be continued when the product has sufficient customer
\ncommitment.
\nIn addition, management has evaluated that the equity value of the company is an indication of the fair value of the CGU. The
\ncompany\u2019s shares are listed on Oslo Stock exchange, and fair value is estimated based on the observed share price. The fair value
\nmeasurement is categorized within level 2 of the fair value hierarchy in accordance with IFRS 13. It is considerable headroom between
\nthe carrying value and the fair value less cost of disposal.
\n
\n\n\n\n\n\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag277": {
"value": "\n
\n\n11 Lease agreements
\npoLight has entered into leases with regards to premises and office equipment used in its operations. In Norway, the company leases
\nlab facilities, including a clean room, and offices are leased in Norway, Finland and China. The premises in Norway comprises 852
\nsquare meters. The contract expires in July 2024 with an option to extend the lease agreement with additional 2 years. The option is
\nassumed to be utilised determining the lease period, increasing the lease assets and liabilities.
\nThe office lease terms in Finland and China are terminable by both lessee and lessor with twelve months\u2019 notice or less. The leases
\nof office equipment are with low value. The Group applies the \u2018short-term lease\u2019 and \u2018lease of low-value assets\u2019 recognition
\nexemptions for these leases.
\nSet out below are the carrying amounts of right-of-use assets recognised and the movements during the period:
\nBuilding
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAt 1 January
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n3 871
\n4 778
\nAdditions
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n152
\n159
\nDepreciation expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-1 108
\n-1 066
\nAt 31 December
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 915
\n3 871
\n
\nSet out below are the carrying amounts of lease liabilities and the movements during the period:
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAt 1 January
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 070
\n4 876
\nAdditions
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n152
\n159
\nTermination of contract
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n0
\n0
\nInterest expense
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n259
\n330
\nPayments
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-1 348
\n-1 295
\nAt 31 December
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n3 133
\n4 070
\nCurrent, < 1 year
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 182
\n1 100
\nNon-current
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 951
\n2 970
\n
\nThe maturity analysis of lease liabilities are disclosed in Note 13.2 Financial liabilities.
\n
\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n\nThe following are the amounts recognised in profit or loss:
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nDepreciation expense of right-of-use assets
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 108
\n1 066
\nInterest expense on lease liabilities
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n259
\n330
\nExpense relating to short-term leases (included in research and development expenses)
\n529
\n407
\nExpense relating to short-term leases (included in sales and marketing expenses)
\n89
\n769
\nExpense relating to leases of low-value assets (included in administrative expenses)
\n42
\n46
\nTotal amount recognised in profit or loss
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 026
\n2 617
\n
\nThe Group had total cash outflows for leases of NOK 2 007 in 2023 (2022: NOK 2 516). The Group also had non-cash additions to
\nright-of-use assets and lease liabilities of NOK 152 in 2023 (2022: NOK 159). The addition is attributable to the yearly adjustment in
\nlease payment for the company\u2019s headquarters in Horten.
\n
\n\n\n\n\n\n
\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLeasesExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag278": {
"value": "\n
\n\n12 Inventories
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\nComponents; mainly wafers (at cost)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n78 837
\n50 143
\nFinished goods; lenses and driver ASICs (at cost)
\n
\n
\n
\n
\n
\n6 195
\n8 968
\nObsolescence provision (expensed as cost of sales)
\n
\n
\n
\n
\n-14 944
\n-13 534
\nTotal inventories at the lower of cost and net realisable value
\n
\n
\n
\n70 089
\n45 577
\n
\nDuring 2023, NOK 1.4 million (2022: NOK 0.3 million) was recognised as an obsolescence expense for inventories carried at net
\nrealisable value. This is recognised in cost of sales (Note 5.1 Cost of Sales).
\n
\n\n\n\n\n\n\n
\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInventoriesExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag279": {
"value": "\n\n
\n
\n
\n
\n
\n
\n13 Financial assets and financial liabilities
\n
\n
\n
\n
\n
\n
\n\n\n\n\n\n\n\n13.1 Financial assets
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nFinancial assets at amortised cost:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nTrade receivables
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 265
\n3 026
\nGrants recognised, not received
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 117
\n4 614
\nOther receivables
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 813
\n747
\nTotal financial assets
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n8 194
\n8 386
\nTotal current
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n8 194
\n8 386
\nTotal non-current
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n0
\n0
\n
\nTrade receivables are non-interest bearing and generally on 30-day terms.
\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n\n
\n\n
\n\n
\n\n
\n\n13.2 Financial liabilities
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\nFinancial liabilities at amortised cost, other than interest-bearing loans and
\nborrowings:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nTrade payables
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n5 893
\n10 612
\nOther payables
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n8 025
\n7 923
\nAccrued employer\u2019s NICs on share option plan (note 5.3)
\n
\n
\n
\n
\n
\n
\n
\n5 839
\n3 945
\nProvisions
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 000
\n1 000
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n20 757
\n23 480
\nTotal current
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n20 757
\n23 480
\nTotal non-current
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n0
\n0
\n
\nFor all the financial liabilities the carry amounts represent a reasonable approximation of fair value.
\nTerms and conditions of the above financial liabilities
\n\u2022 Trade payables are non-interest bearing, and are settled on 15\u201345 day terms
\n\u2022 Other payables are non-interest bearing, and have an average term of 2.6 months
\n\u2022 Accrued employer\u2019s NICs on exercisable share options with remaining contractual life of 2.69 years as at 31 December
\n2023. See Note 5.3 Employee benefits expense for additional information.
\n
\n\n\n
\n\n\n
\n\n\n
\n\n\n
\n\n\n
\n
\n\n
\n
\n13.3 Financial instruments risk management objectives and policies
\npoLight\u2019s principal financial assets include trade and other receivables, and cash. poLight\u2019s principal financial liabilities comprise trade
\nand other payables, lease liabilities and provisions.
\npoLight is exposed to foreign currency risk, credit risk and liquidity risk. The Executive Management oversees the management of
\nthese risks.
\n
\n
\n\n
\n\nForeign currency risk
\nTrade receivables, trade payables and inventory; poLight\u2019s contracts with the suppliers of the actuator and the assembly of the
\nTLens\u00ae, are denominated in USD. Foreign currency risk will be mitigated by entering sales contracts in USD or using hedging
\ninstruments. The group had not entered into any hedging instruments as at 31 December 2023.
\nResearch and development (\u201cR&D\u201d); a significant part of the R&D expenses is in foreign currency. Services from subsidiaries are
\ninvoiced in EUR and development programs at manufacturing partners are invoiced in USD. These activities have not been hedged
\nby entering into forward exchange rate contracts or other as of today.
\nSince the monetary assets and liabilities in foreign currency, as at 31. December mainly consists of trade payables and receivables
\nwhich are naturally hedged for the most part, any change in exchange rates will not have a material impact on the profit before tax,
\nnor the equity.
\n
\n\n\n
\n\n\n\nCredit risk
\nCredit risk is the risk that a counterparty will not meet its obligations under a financial instrument or customer contract, leading to a
\nfinancial loss. poLight is exposed to credit risk from its operating activities (primarily trade receivables) and from its financing
\nactivities, including deposits with banks and financial institutions, foreign exchange transactions and other financial instruments.
\nHistorically, no bad debt has been recognised and since the trade receivables, post balance sheet date, have been paid in full, no
\nprovision has been made.
\n
\n\n\n
\n\n\n
\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n\n
\n
\n\nCredit quality of a customer is assessed based on D&B\u2019s credit rating scorecard and are regularly monitored. As at 31 December 2023,
\nmost of other receivables consisted of government grants with low credit risk.
\nAs at 31 December, the ageing analysis of the receivables is as follows:
\n
\n
\n
\n
\n
\n
\n
\n
\nNot past
\ndue
\nPast due
\n(in NOK 000)
\nTotal
\n< 30 days
\n30\u201360 days
\n61\u201390 days
\n91\u2013120 days
\n> 120 days
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n8 194
\n7 675
\n479
\n39
\n0
\n0
\n0
\n2022
\n8 386
\n6 512
\n1 874
\n0
\n0
\n0
\n0
\n
\nCredit risk from balances with banks are mitigated using 5 different Norwegian banks with a deposit limit of NOK 40 million each.
\nCredit quality is assessed and regularly monitored.
\n
\n\n\n\n\n
\n
\nLiquidity risk and Capital Management
\nThe Group monitors its risk of a shortage of funds using 5 years forecasting model. At year-end, poLight had cash deposits of NOK
\n114.8 million. According to current plans, the Group\u2019s cash deposits will fund activities through the fourth quarter of 2024. Thereafter,
\nadditional capital will be required to continue poLight\u2019s planned commercialisation of its TLens\u00ae technology.
\n
\n
\n
\n\n
\n\n
\n\n
\n\nThe maturity analysis below shows the remaining contractual maturity of financial liability. The analysis shows contractual
\nundiscounted cash-flows (i.e., includes interest), and thus differs from the amounts recognised in the statement of financial position.
\n(in NOK 000)
\n
\n
\n
\n
\n
\n< 3 months
\n3 to 12
\nmonths
\n1 to 5 years
\n> 5 years
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAs at 31. December 2023
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nLease liabilities
\n
\n
\n
\n
\n342
\n1 025
\n2 049
\n0
\n3 416
\nTrade and payables
\n
\n17 774
\n1 983
\n0
\n0
\n19 757
\n
\n
\n18 116
\n3 008
\n2 049
\n0
\n23 173
\n
\n(in NOK 000)
\n
\n
\n
\n
\n
\n< 3 months
\n3 to 12
\nmonths
\n1 to 5 years
\n> 5 years
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAs at 31. December 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nLease liabilities
\n
\n
\n
\n
\n346
\n1 015
\n3 232
\n0
\n4 593
\nTrade and other payables
\n
\n20 679
\n1 801
\n0
\n0
\n22 480
\n Total
\n
\n21 025
\n2 816
\n3 232
\n0
\n27 073
\n
\n\n\n\n
\n\n\n\n
\n\n\n\n
\n\n\n\n
\n\nThe primary objective of the Group\u2019s capital management is to ensure that it maintains a strong credit rating and healthy capital
\nratios in order to support its business and maximise shareholder value.
\nThe Group manages its capital structure and makes adjustments to it in light of changes in economic conditions. To maintain or adjust
\nthe capital structure, the Group may issue new shares and/or debt. 18
\nth
\n April 2024 the company held an extraordinary general
\nmeeting that approved to carry out an underwritten rights issue with gross proceeds of up to NOK 160 million, of which subscription
\nof shares for NOK 130 million will be underwritten. The underwriting agreements of NOK 130 million are unconditional and
\nirrevocable. All the conditions for the obligations of the underwriters have been met.
\n
\n\n\n\n
\n\n\n\n
\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n\n
\n\n
\nThe Group monitors cash monthly towards 5-year budgets and forecasts.
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\nTrade and other payables
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n20 757
\n23 480
\nLess: cash and short-term deposits
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-114 788
\n-84 249
\nNet debt
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-94 031
\n-60 769
\nThe Group's capital structure is primarily based on deposits.
\n
\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag289": {
"value": "\n\n\n\n\n\n\n13.1 Financial assets
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nFinancial assets at amortised cost:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nTrade receivables
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 265
\n3 026
\nGrants recognised, not received
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 117
\n4 614
\nOther receivables
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 813
\n747
\nTotal financial assets
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n8 194
\n8 386
\nTotal current
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n8 194
\n8 386
\nTotal non-current
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n0
\n0
\n
\nTrade receivables are non-interest bearing and generally on 30-day terms.
\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialAssetsHeldForTradingExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag290": {
"value": "\n\n\n\n\n13.1 Financial assets
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nFinancial assets at amortised cost:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nTrade receivables
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 265
\n3 026
\nGrants recognised, not received
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 117
\n4 614
\nOther receivables
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 813
\n747
\nTotal financial assets
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n8 194
\n8 386
\nTotal current
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n8 194
\n8 386
\nTotal non-current
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n0
\n0
\n
\nTrade receivables are non-interest bearing and generally on 30-day terms.
\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag291": {
"value": "\n\n\n13.1 Financial assets
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nFinancial assets at amortised cost:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nTrade receivables
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 265
\n3 026
\nGrants recognised, not received
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 117
\n4 614
\nOther receivables
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 813
\n747
\nTotal financial assets
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n8 194
\n8 386
\nTotal current
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n8 194
\n8 386
\nTotal non-current
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n0
\n0
\n
\nTrade receivables are non-interest bearing and generally on 30-day terms.
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag292": {
"value": "\n13.1 Financial assets
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nFinancial assets at amortised cost:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nTrade receivables
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 265
\n3 026
\nGrants recognised, not received
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 117
\n4 614
\nOther receivables
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 813
\n747
\nTotal financial assets
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n8 194
\n8 386
\nTotal current
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n8 194
\n8 386
\nTotal non-current
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n0
\n0
\n
\nTrade receivables are non-interest bearing and generally on 30-day terms.
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag280": {
"value": "\n
\n\n
\n\n
\n\n
\n\n13.2 Financial liabilities
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\nFinancial liabilities at amortised cost, other than interest-bearing loans and
\nborrowings:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nTrade payables
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n5 893
\n10 612
\nOther payables
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n8 025
\n7 923
\nAccrued employer\u2019s NICs on share option plan (note 5.3)
\n
\n
\n
\n
\n
\n
\n
\n5 839
\n3 945
\nProvisions
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 000
\n1 000
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n20 757
\n23 480
\nTotal current
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n20 757
\n23 480
\nTotal non-current
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n0
\n0
\n
\nFor all the financial liabilities the carry amounts represent a reasonable approximation of fair value.
\nTerms and conditions of the above financial liabilities
\n\u2022 Trade payables are non-interest bearing, and are settled on 15\u201345 day terms
\n\u2022 Other payables are non-interest bearing, and have an average term of 2.6 months
\n\u2022 Accrued employer\u2019s NICs on exercisable share options with remaining contractual life of 2.69 years as at 31 December
\n2023. See Note 5.3 Employee benefits expense for additional information.
\n
\n\n\n
\n\n\n
\n\n\n
\n\n\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialLiabilitiesHeldForTradingExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag281": {
"value": "\n
\n\n
\n\n
\n\n13.2 Financial liabilities
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\nFinancial liabilities at amortised cost, other than interest-bearing loans and
\nborrowings:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nTrade payables
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n5 893
\n10 612
\nOther payables
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n8 025
\n7 923
\nAccrued employer\u2019s NICs on share option plan (note 5.3)
\n
\n
\n
\n
\n
\n
\n
\n5 839
\n3 945
\nProvisions
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 000
\n1 000
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n20 757
\n23 480
\nTotal current
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n20 757
\n23 480
\nTotal non-current
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n0
\n0
\n
\nFor all the financial liabilities the carry amounts represent a reasonable approximation of fair value.
\nTerms and conditions of the above financial liabilities
\n\u2022 Trade payables are non-interest bearing, and are settled on 15\u201345 day terms
\n\u2022 Other payables are non-interest bearing, and have an average term of 2.6 months
\n\u2022 Accrued employer\u2019s NICs on exercisable share options with remaining contractual life of 2.69 years as at 31 December
\n2023. See Note 5.3 Employee benefits expense for additional information.
\n
\n\n\n
\n\n\n
\n\n\n
\n\n\n
\n\n
\n\n
\n\nThe maturity analysis below shows the remaining contractual maturity of financial liability. The analysis shows contractual
\nundiscounted cash-flows (i.e., includes interest), and thus differs from the amounts recognised in the statement of financial position.
\n(in NOK 000)
\n
\n
\n
\n
\n
\n< 3 months
\n3 to 12
\nmonths
\n1 to 5 years
\n> 5 years
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAs at 31. December 2023
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nLease liabilities
\n
\n
\n
\n
\n342
\n1 025
\n2 049
\n0
\n3 416
\nTrade and payables
\n
\n17 774
\n1 983
\n0
\n0
\n19 757
\n
\n
\n18 116
\n3 008
\n2 049
\n0
\n23 173
\n
\n(in NOK 000)
\n
\n
\n
\n
\n
\n< 3 months
\n3 to 12
\nmonths
\n1 to 5 years
\n> 5 years
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAs at 31. December 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nLease liabilities
\n
\n
\n
\n
\n346
\n1 015
\n3 232
\n0
\n4 593
\nTrade and other payables
\n
\n20 679
\n1 801
\n0
\n0
\n22 480
\n Total
\n
\n21 025
\n2 816
\n3 232
\n0
\n27 073
\n
\n\n\n\n
\n\n\n\n
\n\n\n\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag282": {
"value": "\n
\n\n
\n\n13.2 Financial liabilities
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\nFinancial liabilities at amortised cost, other than interest-bearing loans and
\nborrowings:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nTrade payables
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n5 893
\n10 612
\nOther payables
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n8 025
\n7 923
\nAccrued employer\u2019s NICs on share option plan (note 5.3)
\n
\n
\n
\n
\n
\n
\n
\n5 839
\n3 945
\nProvisions
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 000
\n1 000
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n20 757
\n23 480
\nTotal current
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n20 757
\n23 480
\nTotal non-current
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n0
\n0
\n
\nFor all the financial liabilities the carry amounts represent a reasonable approximation of fair value.
\nTerms and conditions of the above financial liabilities
\n\u2022 Trade payables are non-interest bearing, and are settled on 15\u201345 day terms
\n\u2022 Other payables are non-interest bearing, and have an average term of 2.6 months
\n\u2022 Accrued employer\u2019s NICs on exercisable share options with remaining contractual life of 2.69 years as at 31 December
\n2023. See Note 5.3 Employee benefits expense for additional information.
\n
\n\n\n
\n\n\n
\n\n\n
\n\n
\n\nThe maturity analysis below shows the remaining contractual maturity of financial liability. The analysis shows contractual
\nundiscounted cash-flows (i.e., includes interest), and thus differs from the amounts recognised in the statement of financial position.
\n(in NOK 000)
\n
\n
\n
\n
\n
\n< 3 months
\n3 to 12
\nmonths
\n1 to 5 years
\n> 5 years
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAs at 31. December 2023
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nLease liabilities
\n
\n
\n
\n
\n342
\n1 025
\n2 049
\n0
\n3 416
\nTrade and payables
\n
\n17 774
\n1 983
\n0
\n0
\n19 757
\n
\n
\n18 116
\n3 008
\n2 049
\n0
\n23 173
\n
\n(in NOK 000)
\n
\n
\n
\n
\n
\n< 3 months
\n3 to 12
\nmonths
\n1 to 5 years
\n> 5 years
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAs at 31. December 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nLease liabilities
\n
\n
\n
\n
\n346
\n1 015
\n3 232
\n0
\n4 593
\nTrade and other payables
\n
\n20 679
\n1 801
\n0
\n0
\n22 480
\n Total
\n
\n21 025
\n2 816
\n3 232
\n0
\n27 073
\n
\n\n\n\n
\n\n\n\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag283": {
"value": "\n
\n\n13.2 Financial liabilities
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\nFinancial liabilities at amortised cost, other than interest-bearing loans and
\nborrowings:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nTrade payables
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n5 893
\n10 612
\nOther payables
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n8 025
\n7 923
\nAccrued employer\u2019s NICs on share option plan (note 5.3)
\n
\n
\n
\n
\n
\n
\n
\n5 839
\n3 945
\nProvisions
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 000
\n1 000
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n20 757
\n23 480
\nTotal current
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n20 757
\n23 480
\nTotal non-current
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n0
\n0
\n
\nFor all the financial liabilities the carry amounts represent a reasonable approximation of fair value.
\nTerms and conditions of the above financial liabilities
\n\u2022 Trade payables are non-interest bearing, and are settled on 15\u201345 day terms
\n\u2022 Other payables are non-interest bearing, and have an average term of 2.6 months
\n\u2022 Accrued employer\u2019s NICs on exercisable share options with remaining contractual life of 2.69 years as at 31 December
\n2023. See Note 5.3 Employee benefits expense for additional information.
\n
\n\n\n
\n\n\n
\n\nThe maturity analysis below shows the remaining contractual maturity of financial liability. The analysis shows contractual
\nundiscounted cash-flows (i.e., includes interest), and thus differs from the amounts recognised in the statement of financial position.
\n(in NOK 000)
\n
\n
\n
\n
\n
\n< 3 months
\n3 to 12
\nmonths
\n1 to 5 years
\n> 5 years
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAs at 31. December 2023
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nLease liabilities
\n
\n
\n
\n
\n342
\n1 025
\n2 049
\n0
\n3 416
\nTrade and payables
\n
\n17 774
\n1 983
\n0
\n0
\n19 757
\n
\n
\n18 116
\n3 008
\n2 049
\n0
\n23 173
\n
\n(in NOK 000)
\n
\n
\n
\n
\n
\n< 3 months
\n3 to 12
\nmonths
\n1 to 5 years
\n> 5 years
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAs at 31. December 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nLease liabilities
\n
\n
\n
\n
\n346
\n1 015
\n3 232
\n0
\n4 593
\nTrade and other payables
\n
\n20 679
\n1 801
\n0
\n0
\n22 480
\n Total
\n
\n21 025
\n2 816
\n3 232
\n0
\n27 073
\n
\n\n\n\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag284": {
"value": "\n13.2 Financial liabilities
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\nFinancial liabilities at amortised cost, other than interest-bearing loans and
\nborrowings:
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nTrade payables
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n5 893
\n10 612
\nOther payables
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n8 025
\n7 923
\nAccrued employer\u2019s NICs on share option plan (note 5.3)
\n
\n
\n
\n
\n
\n
\n
\n5 839
\n3 945
\nProvisions
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 000
\n1 000
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n20 757
\n23 480
\nTotal current
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n20 757
\n23 480
\nTotal non-current
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n0
\n0
\n
\nFor all the financial liabilities the carry amounts represent a reasonable approximation of fair value.
\nTerms and conditions of the above financial liabilities
\n\u2022 Trade payables are non-interest bearing, and are settled on 15\u201345 day terms
\n\u2022 Other payables are non-interest bearing, and have an average term of 2.6 months
\n\u2022 Accrued employer\u2019s NICs on exercisable share options with remaining contractual life of 2.69 years as at 31 December
\n2023. See Note 5.3 Employee benefits expense for additional information.
\n
\n\n\nThe maturity analysis below shows the remaining contractual maturity of financial liability. The analysis shows contractual
\nundiscounted cash-flows (i.e., includes interest), and thus differs from the amounts recognised in the statement of financial position.
\n(in NOK 000)
\n
\n
\n
\n
\n
\n< 3 months
\n3 to 12
\nmonths
\n1 to 5 years
\n> 5 years
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAs at 31. December 2023
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nLease liabilities
\n
\n
\n
\n
\n342
\n1 025
\n2 049
\n0
\n3 416
\nTrade and payables
\n
\n17 774
\n1 983
\n0
\n0
\n19 757
\n
\n
\n18 116
\n3 008
\n2 049
\n0
\n23 173
\n
\n(in NOK 000)
\n
\n
\n
\n
\n
\n< 3 months
\n3 to 12
\nmonths
\n1 to 5 years
\n> 5 years
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAs at 31. December 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nLease liabilities
\n
\n
\n
\n
\n346
\n1 015
\n3 232
\n0
\n4 593
\nTrade and other payables
\n
\n20 679
\n1 801
\n0
\n0
\n22 480
\n Total
\n
\n21 025
\n2 816
\n3 232
\n0
\n27 073
\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag285": {
"value": "\n
\n
\n13.3 Financial instruments risk management objectives and policies
\npoLight\u2019s principal financial assets include trade and other receivables, and cash. poLight\u2019s principal financial liabilities comprise trade
\nand other payables, lease liabilities and provisions.
\npoLight is exposed to foreign currency risk, credit risk and liquidity risk. The Executive Management oversees the management of
\nthese risks.
\n
\n
\n\n
\n\nForeign currency risk
\nTrade receivables, trade payables and inventory; poLight\u2019s contracts with the suppliers of the actuator and the assembly of the
\nTLens\u00ae, are denominated in USD. Foreign currency risk will be mitigated by entering sales contracts in USD or using hedging
\ninstruments. The group had not entered into any hedging instruments as at 31 December 2023.
\nResearch and development (\u201cR&D\u201d); a significant part of the R&D expenses is in foreign currency. Services from subsidiaries are
\ninvoiced in EUR and development programs at manufacturing partners are invoiced in USD. These activities have not been hedged
\nby entering into forward exchange rate contracts or other as of today.
\nSince the monetary assets and liabilities in foreign currency, as at 31. December mainly consists of trade payables and receivables
\nwhich are naturally hedged for the most part, any change in exchange rates will not have a material impact on the profit before tax,
\nnor the equity.
\n
\n\n\n
\n\n\n\nCredit risk
\nCredit risk is the risk that a counterparty will not meet its obligations under a financial instrument or customer contract, leading to a
\nfinancial loss. poLight is exposed to credit risk from its operating activities (primarily trade receivables) and from its financing
\nactivities, including deposits with banks and financial institutions, foreign exchange transactions and other financial instruments.
\nHistorically, no bad debt has been recognised and since the trade receivables, post balance sheet date, have been paid in full, no
\nprovision has been made.
\n
\n\n\n
\n\n\n
\n
\n\nCredit quality of a customer is assessed based on D&B\u2019s credit rating scorecard and are regularly monitored. As at 31 December 2023,
\nmost of other receivables consisted of government grants with low credit risk.
\nAs at 31 December, the ageing analysis of the receivables is as follows:
\n
\n
\n
\n
\n
\n
\n
\n
\nNot past
\ndue
\nPast due
\n(in NOK 000)
\nTotal
\n< 30 days
\n30\u201360 days
\n61\u201390 days
\n91\u2013120 days
\n> 120 days
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n8 194
\n7 675
\n479
\n39
\n0
\n0
\n0
\n2022
\n8 386
\n6 512
\n1 874
\n0
\n0
\n0
\n0
\n
\nCredit risk from balances with banks are mitigated using 5 different Norwegian banks with a deposit limit of NOK 40 million each.
\nCredit quality is assessed and regularly monitored.
\n
\n\n\n\n\n
\n
\nLiquidity risk and Capital Management
\nThe Group monitors its risk of a shortage of funds using 5 years forecasting model. At year-end, poLight had cash deposits of NOK
\n114.8 million. According to current plans, the Group\u2019s cash deposits will fund activities through the fourth quarter of 2024. Thereafter,
\nadditional capital will be required to continue poLight\u2019s planned commercialisation of its TLens\u00ae technology.
\n
\n
\n
\n\n
\n\n
\n\n
\n\nThe maturity analysis below shows the remaining contractual maturity of financial liability. The analysis shows contractual
\nundiscounted cash-flows (i.e., includes interest), and thus differs from the amounts recognised in the statement of financial position.
\n(in NOK 000)
\n
\n
\n
\n
\n
\n< 3 months
\n3 to 12
\nmonths
\n1 to 5 years
\n> 5 years
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAs at 31. December 2023
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nLease liabilities
\n
\n
\n
\n
\n342
\n1 025
\n2 049
\n0
\n3 416
\nTrade and payables
\n
\n17 774
\n1 983
\n0
\n0
\n19 757
\n
\n
\n18 116
\n3 008
\n2 049
\n0
\n23 173
\n
\n(in NOK 000)
\n
\n
\n
\n
\n
\n< 3 months
\n3 to 12
\nmonths
\n1 to 5 years
\n> 5 years
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAs at 31. December 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nLease liabilities
\n
\n
\n
\n
\n346
\n1 015
\n3 232
\n0
\n4 593
\nTrade and other payables
\n
\n20 679
\n1 801
\n0
\n0
\n22 480
\n Total
\n
\n21 025
\n2 816
\n3 232
\n0
\n27 073
\n
\n\n\n\n
\n\n\n\n
\n\n\n\n
\n\n\n\n
\n\nThe primary objective of the Group\u2019s capital management is to ensure that it maintains a strong credit rating and healthy capital
\nratios in order to support its business and maximise shareholder value.
\nThe Group manages its capital structure and makes adjustments to it in light of changes in economic conditions. To maintain or adjust
\nthe capital structure, the Group may issue new shares and/or debt. 18
\nth
\n April 2024 the company held an extraordinary general
\nmeeting that approved to carry out an underwritten rights issue with gross proceeds of up to NOK 160 million, of which subscription
\nof shares for NOK 130 million will be underwritten. The underwriting agreements of NOK 130 million are unconditional and
\nirrevocable. All the conditions for the obligations of the underwriters have been met.
\n
\n\n\n\n
\n\n\n\n
\n\n\n\n
\n\n
\n\n
\nThe Group monitors cash monthly towards 5-year budgets and forecasts.
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\nTrade and other payables
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n20 757
\n23 480
\nLess: cash and short-term deposits
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-114 788
\n-84 249
\nNet debt
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-94 031
\n-60 769
\nThe Group's capital structure is primarily based on deposits.
\n
\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag286": {
"value": "\n
\n\nForeign currency risk
\nTrade receivables, trade payables and inventory; poLight\u2019s contracts with the suppliers of the actuator and the assembly of the
\nTLens\u00ae, are denominated in USD. Foreign currency risk will be mitigated by entering sales contracts in USD or using hedging
\ninstruments. The group had not entered into any hedging instruments as at 31 December 2023.
\nResearch and development (\u201cR&D\u201d); a significant part of the R&D expenses is in foreign currency. Services from subsidiaries are
\ninvoiced in EUR and development programs at manufacturing partners are invoiced in USD. These activities have not been hedged
\nby entering into forward exchange rate contracts or other as of today.
\nSince the monetary assets and liabilities in foreign currency, as at 31. December mainly consists of trade payables and receivables
\nwhich are naturally hedged for the most part, any change in exchange rates will not have a material impact on the profit before tax,
\nnor the equity.
\n
\n\n\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfMarketRiskExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag287": {
"value": "\nForeign currency risk
\nTrade receivables, trade payables and inventory; poLight\u2019s contracts with the suppliers of the actuator and the assembly of the
\nTLens\u00ae, are denominated in USD. Foreign currency risk will be mitigated by entering sales contracts in USD or using hedging
\ninstruments. The group had not entered into any hedging instruments as at 31 December 2023.
\nResearch and development (\u201cR&D\u201d); a significant part of the R&D expenses is in foreign currency. Services from subsidiaries are
\ninvoiced in EUR and development programs at manufacturing partners are invoiced in USD. These activities have not been hedged
\nby entering into forward exchange rate contracts or other as of today.
\nSince the monetary assets and liabilities in foreign currency, as at 31. December mainly consists of trade payables and receivables
\nwhich are naturally hedged for the most part, any change in exchange rates will not have a material impact on the profit before tax,
\nnor the equity.
\n
\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag288": {
"value": "\nCredit risk
\nCredit risk is the risk that a counterparty will not meet its obligations under a financial instrument or customer contract, leading to a
\nfinancial loss. poLight is exposed to credit risk from its operating activities (primarily trade receivables) and from its financing
\nactivities, including deposits with banks and financial institutions, foreign exchange transactions and other financial instruments.
\nHistorically, no bad debt has been recognised and since the trade receivables, post balance sheet date, have been paid in full, no
\nprovision has been made.
\n
\n\n\nCredit quality of a customer is assessed based on D&B\u2019s credit rating scorecard and are regularly monitored. As at 31 December 2023,
\nmost of other receivables consisted of government grants with low credit risk.
\nAs at 31 December, the ageing analysis of the receivables is as follows:
\n
\n
\n
\n
\n
\n
\n
\n
\nNot past
\ndue
\nPast due
\n(in NOK 000)
\nTotal
\n< 30 days
\n30\u201360 days
\n61\u201390 days
\n91\u2013120 days
\n> 120 days
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n8 194
\n7 675
\n479
\n39
\n0
\n0
\n0
\n2022
\n8 386
\n6 512
\n1 874
\n0
\n0
\n0
\n0
\n
\nCredit risk from balances with banks are mitigated using 5 different Norwegian banks with a deposit limit of NOK 40 million each.
\nCredit quality is assessed and regularly monitored.
\n
\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag309": {
"value": "\n
\n
\nLiquidity risk and Capital Management
\nThe Group monitors its risk of a shortage of funds using 5 years forecasting model. At year-end, poLight had cash deposits of NOK
\n114.8 million. According to current plans, the Group\u2019s cash deposits will fund activities through the fourth quarter of 2024. Thereafter,
\nadditional capital will be required to continue poLight\u2019s planned commercialisation of its TLens\u00ae technology.
\n
\n
\n
\n\n
\n\n
\n\n
\n\nThe maturity analysis below shows the remaining contractual maturity of financial liability. The analysis shows contractual
\nundiscounted cash-flows (i.e., includes interest), and thus differs from the amounts recognised in the statement of financial position.
\n(in NOK 000)
\n
\n
\n
\n
\n
\n< 3 months
\n3 to 12
\nmonths
\n1 to 5 years
\n> 5 years
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAs at 31. December 2023
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nLease liabilities
\n
\n
\n
\n
\n342
\n1 025
\n2 049
\n0
\n3 416
\nTrade and payables
\n
\n17 774
\n1 983
\n0
\n0
\n19 757
\n
\n
\n18 116
\n3 008
\n2 049
\n0
\n23 173
\n
\n(in NOK 000)
\n
\n
\n
\n
\n
\n< 3 months
\n3 to 12
\nmonths
\n1 to 5 years
\n> 5 years
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAs at 31. December 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nLease liabilities
\n
\n
\n
\n
\n346
\n1 015
\n3 232
\n0
\n4 593
\nTrade and other payables
\n
\n20 679
\n1 801
\n0
\n0
\n22 480
\n Total
\n
\n21 025
\n2 816
\n3 232
\n0
\n27 073
\n
\n\n\n\n
\n\n\n\n
\n\n\n\n
\n\n\n\n
\n\nThe primary objective of the Group\u2019s capital management is to ensure that it maintains a strong credit rating and healthy capital
\nratios in order to support its business and maximise shareholder value.
\nThe Group manages its capital structure and makes adjustments to it in light of changes in economic conditions. To maintain or adjust
\nthe capital structure, the Group may issue new shares and/or debt. 18
\nth
\n April 2024 the company held an extraordinary general
\nmeeting that approved to carry out an underwritten rights issue with gross proceeds of up to NOK 160 million, of which subscription
\nof shares for NOK 130 million will be underwritten. The underwriting agreements of NOK 130 million are unconditional and
\nirrevocable. All the conditions for the obligations of the underwriters have been met.
\n
\n\n\n\n
\n\n\n\n
\n\n
\nThe Group monitors cash monthly towards 5-year budgets and forecasts.
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\nTrade and other payables
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n20 757
\n23 480
\nLess: cash and short-term deposits
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-114 788
\n-84 249
\nNet debt
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-94 031
\n-60 769
\nThe Group's capital structure is primarily based on deposits.
\n
\n\n\n\n\n\n\n
\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag310": {
"value": "\nThe primary objective of the Group\u2019s capital management is to ensure that it maintains a strong credit rating and healthy capital
\nratios in order to support its business and maximise shareholder value.
\nThe Group manages its capital structure and makes adjustments to it in light of changes in economic conditions. To maintain or adjust
\nthe capital structure, the Group may issue new shares and/or debt. 18
\nth
\n April 2024 the company held an extraordinary general
\nmeeting that approved to carry out an underwritten rights issue with gross proceeds of up to NOK 160 million, of which subscription
\nof shares for NOK 130 million will be underwritten. The underwriting agreements of NOK 130 million are unconditional and
\nirrevocable. All the conditions for the obligations of the underwriters have been met.
\n
\n\n\n\n
\nThe Group monitors cash monthly towards 5-year budgets and forecasts.
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\nTrade and other payables
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n20 757
\n23 480
\nLess: cash and short-term deposits
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-114 788
\n-84 249
\nNet debt
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-94 031
\n-60 769
\nThe Group's capital structure is primarily based on deposits.
\n
\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag302": {
"value": "\n14 Government grants
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nReceivable at 1 January
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n4 614
\n7 280
\nReceived during the year
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-4 614
\n-7 558
\nGrants recognised as reduction of research and development expenses in the consolidated
\nstatement of income
\n2 117
\n4 892
\nReceivable at 31 December
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 117
\n4 614
\n
\nThe group have received grants for development of next generation optical components based on TLens\u00ae technology and analyses
\nand testing activities to understand better relations between micro failure in optical components and mechanical, physical and
\nelectric testing. The group has in addition received Tax Refund grants related to project for application reference design enabled by
\npoLight technology, autofocus lens and ASIC projects.
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nCurrent
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 117
\n4 614
\nNon-current
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n0
\n0
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2 117
\n4 614
\n
\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGovernmentGrantsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag303": {
"value": "\n
\n\n15 Cash and short-term deposits
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nCash at banks
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n113 602
\n82 936
\nRestricted cash, taxes withheld
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 186
\n1 313
\nCash and short-term deposits
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n114 788
\n84 249
\n
\nCash at banks earns interest at floating rates based on daily bank deposit rates.
\n
\n\n\n\n\n\n\n
\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag304": {
"value": "\n15 Cash and short-term deposits
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nCash at banks
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n113 602
\n82 936
\nRestricted cash, taxes withheld
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 186
\n1 313
\nCash and short-term deposits
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n114 788
\n84 249
\n
\nCash at banks earns interest at floating rates based on daily bank deposit rates.
\n
\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag293": {
"value": "\n
\n\n16 Issued capital and reserves
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nOrdinary shares
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n66 211 548
\n51 952 700
\n
\nThe shareholders are presented in Note 16 Share capital and shareholder information, in the financial statement of the parent
\ncompany, poLight ASA.
\nShares issued and fully paid
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNumber of
\nshares
\nIssued capital
\n(in NOK 000)
\nAt 1 January 2022 of NOK 0.20 each
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 385 096
\n2 077
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nExercise of share options on 1 March 2022 each with a par value of NOK 0.20
\n
\n
\n777
\n0
\nExercise of share options on 25 May 2022 each with a par value of NOK 0.20
\n
\n
\n4 667
\n1
\nShare split of 1:5 on 31 May 2022, par value of NOK 0.04
\n
\n
\n
\n
\n
\n
\n
\n
\n41 562 160
\n
\nAt 31 December 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n51 952 700
\n2 078
\n
\n
\n
\n
\nRights Issue on 10 May 2023 each with a par value of NOK 0.0.4
\n
\n
\n
\n
\n
\n
\n12 918 660
\n517
\nUnderwriting commission related to the rights Issue on 10 May 2023 each with a par value of NOK
\n0.0.4
\n1 291 858
\n52
\nExercise of share options on 18 September 2023 each with a par value of NOK 0.04
\n48 330
\n2
\nAt 31 December 2023
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n66 211 548
\n2 649
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nShare premium
\nAt 1 January 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n209 320
\n
\n
\n
\nExercise of share options on 1 March 2022 average of NOK 8.41
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n33
\nExercise of share options on 25 March 2022 average of NOK 9.54
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n221
\nAllocated to retain earnings
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-63 788
\nAt 31 December 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n145 785
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nRights Issue on 10 May 2023 each with a par value of NOK 0.0.4
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n147 931
\nDecrease due to transaction costs for issued share capital
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-22 702
\nExercise of share options on 18 September 2023 each with a par value of NOK 0.04
\n
\n285
\nAllocated to retain earnings
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-76 796
\nAt 31 December 2023
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n194 503
\n
\nThe board is authorised to increase the share capital issuing new shares up to a total nominal value of NOK 529,306 (13,232,644
\nshares at par value of NOK 0.04) that is approximately 20 per cent of shares outstanding, in addition to shares through share option
\nschemes.
\nShare option schemes
\nThe board is authorised to issue shares through share option schemes up to a total nominal value of NOK 264,653 (6,616,322 shares
\nat par value of NOK 0.04), that is approximately 10 per cent of shares outstanding. The company\u2019s share option schemes, with the
\nopportunity to subscribe for shares in poLight, have been offered all employees (Note 5.3 Employee benefits expense).
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag294": {
"value": "\n16 Issued capital and reserves
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nOrdinary shares
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n66 211 548
\n51 952 700
\n
\nThe shareholders are presented in Note 16 Share capital and shareholder information, in the financial statement of the parent
\ncompany, poLight ASA.
\nShares issued and fully paid
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNumber of
\nshares
\nIssued capital
\n(in NOK 000)
\nAt 1 January 2022 of NOK 0.20 each
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n10 385 096
\n2 077
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nExercise of share options on 1 March 2022 each with a par value of NOK 0.20
\n
\n
\n777
\n0
\nExercise of share options on 25 May 2022 each with a par value of NOK 0.20
\n
\n
\n4 667
\n1
\nShare split of 1:5 on 31 May 2022, par value of NOK 0.04
\n
\n
\n
\n
\n
\n
\n
\n
\n41 562 160
\n
\nAt 31 December 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n51 952 700
\n2 078
\n
\n
\n
\n
\nRights Issue on 10 May 2023 each with a par value of NOK 0.0.4
\n
\n
\n
\n
\n
\n
\n12 918 660
\n517
\nUnderwriting commission related to the rights Issue on 10 May 2023 each with a par value of NOK
\n0.0.4
\n1 291 858
\n52
\nExercise of share options on 18 September 2023 each with a par value of NOK 0.04
\n48 330
\n2
\nAt 31 December 2023
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n66 211 548
\n2 649
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nShare premium
\nAt 1 January 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n209 320
\n
\n
\n
\nExercise of share options on 1 March 2022 average of NOK 8.41
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n33
\nExercise of share options on 25 March 2022 average of NOK 9.54
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n221
\nAllocated to retain earnings
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-63 788
\nAt 31 December 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n145 785
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nRights Issue on 10 May 2023 each with a par value of NOK 0.0.4
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n147 931
\nDecrease due to transaction costs for issued share capital
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-22 702
\nExercise of share options on 18 September 2023 each with a par value of NOK 0.04
\n
\n285
\nAllocated to retain earnings
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n-76 796
\nAt 31 December 2023
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n194 503
\n
\nThe board is authorised to increase the share capital issuing new shares up to a total nominal value of NOK 529,306 (13,232,644
\nshares at par value of NOK 0.04) that is approximately 20 per cent of shares outstanding, in addition to shares through share option
\nschemes.
\nShare option schemes
\nThe board is authorised to issue shares through share option schemes up to a total nominal value of NOK 264,653 (6,616,322 shares
\nat par value of NOK 0.04), that is approximately 10 per cent of shares outstanding. The company\u2019s share option schemes, with the
\nopportunity to subscribe for shares in poLight, have been offered all employees (Note 5.3 Employee benefits expense).
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag295": {
"value": "\n17 Provisions
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWarranty provision
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nAt 1 January 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n500
\n500
\nNew or increased provisions
\n
\n
\n
\n
\n
\n
\n
\n500
\n500
\nAt 31 December 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 000
\n1 000
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nNew or increased provisions
\n
\n
\n
\n
\n
\n
\n
\n0
\n0
\nAt 31 December 2023
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 000
\n1 000
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nExpected timing of cash flow
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nWarranty
\nprovision
\nTotal
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nCurrent, < 1 year
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 000
\n1 000
\nNon-current
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n0
\n0
\nAt 31 December 2023
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 000
\n1 000
\n
\n
\nWarranty provision
\nA general provision to meet potential claims under the warranty clause.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag297": {
"value": "\n
\n
\n
\n
\n\n
\n18 Related parties
\nThe financial statements include the financial statements of the Group and the subsidiaries listed in the following table:
\n
\nName
\nPrincipal activities
\nCountry of
\nincorporation
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\npoLight ASA
\nR&D, Sales and
\nmanagement
\nNorway
\n100 %
\n100 %
\npoLight France SAS
\nR&D
\nFrance
\n100 %
\n100 %
\npoLight Finland Oy
\nR&D
\nFinland
\n100 %
\n100 %
\npoLight Hong Kong Limited
\nHolding company
\nHK, China
\n100 %
\n100 %
\npoLight (Shenzhen) Technical
\nService Company Limited
\nSales
\nChina
\n100 %
\n100 %
\n
\npoLight ASA is the ultimate parent. None of the shareholders of poLight ASA has control of the company. As of 31 December 2023,
\nthe largest shareholder was Investinor Direkte AS, with an ownership of 13.44%.
\n
\n\nTransactions between group companies
\nIntercompany agreements are entered with all the subsidiaries in the Group. All sales in the subsidiaries are made with parent
\ncompany. All transactions are considered to be on an arm\u2019s length basis.
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nPurchases from subsidiaries
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n15 735
\n14 248
\n
\n\n\n\n\n
\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n\n
\n\nSubordinated loan
\n
\n
\n
\n
\n
\n
\n
\n 2023
\n
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nEUR 000
\nNOK 000
\n
\nEUR 000
\nNOK 000
\nSubordinated loan agreement
\n
\n
\n
\n
\n
\n
\n
\n2 650
\n29 787
\n
\n2 750
\n28 913
\n
\nA subordinated loan agreement was concluded on 29 December 2016, between poLight ASA and poLight France SAS. Only the part
\nthat exceeds a prudent level, with regards to both equity and subordinated loan combined, shall be regarded as loan in respect to
\ninterest accrual. For the financial year 2023, the entire principal is considered as equity, and not interest-bearing. Since the loan is
\nconsidered to be a part of the net investment in poLight France SAS, the currency translation effect is recognised in OCI. In the parent
\ncompany an impairment loss of NOK 27,487,325 related to the subordinated loan have been recognised, whereof NOK 374,375
\nrecognised in 2023.
\n
\n\n\n\n\n
\nTransactions with other related parties
\nNo transactions have been made with other related parties for the relevant financial years.
\n
\n\n\n\n\n
\nCompensation to management personnel and board of director\u2019s
\nA separate remuneration report will be published on poLight's website as a part of the notification of the Annual General Meeting.
\n
\n\nManagement remuneration
\nIn accordance with the Norwegian public Limited Companies Act \u00a76-16 a, the board of directors prepares a separate statement
\nrelated to the determination of salary and other benefits for the corporate management. The statement shall be subject to an
\nadvisory vote by the annual general meeting in accordance with \u00a75-6 (3). The statement for 2023 will be submitted for approval in
\nthe annual general meeting 22 May 2024 and will be available on poLight ASA\u2019s website at the time the notice of the meeting is sent
\nto the shareholders.
\nThe total remuneration to the management consists of fixed salary, bonus, benefits in-kind, share option program and pension
\nschemes. The fixed salary is subject to an annual evaluation, and any salary increases and other amendments to the employments
\nterms shall be based on a review by the CEO and the Board each year, taking into account trends in local labour markets, the results
\nachieved, and individual contributions to the development of the Company.
\n(in NOK 000)
\n
\n
\n
\n
\n
\nSalaries
\nBonus
\nPension
\ncosts
\nOther
\nbenefits
\nValue
\n1)
\n
\nshare
\noptions
\nTotal 2023
\n Total 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n\u00d8yvind Isaksen - CEO
\n
\n
\n3 437
\n1 331
\n170
\n400
\n1 919
\n7 256
\n5 016
\nPierre Craen - CTO
\n2)
\n
\n
\n
\n
\n2 413
\n351
\n0
\n0
\n398
\n3 162
\n2 660
\nAlf Henning Bekkevik - CFO
\n1 398
\n185
\n161
\n19
\n460
\n2 223
\n1 569
\nMarianne Sandal - COO
\n
\n
\n1 785
\n236
\n190
\n83
\n476
\n2 770
\n2 438
\nTotal management team
\n
\n
\n
\n
\n
\n
\n
\n
\n9 034
\n2 104
\n520
\n502
\n3 252
\n15 412
\n11 683
\n
\n1) Fair value of the share options vested in 2023 are calculated using the Black-Scholes option pricing model at the date of the
\ngrant. No share options were exercised in 2023.
\n2) Pierre Craen has invoiced NOK 2,764 (2022: NOK 2,549) thousands of the remuneration through Tilia-Blue SRL as a
\nconsultant, included in the above figure.
\n
\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n
\nIf the company terminates the CEO\u2019s employment, the CEO is entitled to nine months\u2019 salary, in addition to a three months\u2019 notice
\nperiod.
\n
\nBelow is an overview of poLight management's and board members' granted share options:
\n
\n
\n
\n
\n
\n
\n
\n
\nOpening
\nbalance
\nForfeited
\noptions
\nExercised
\noptions
\nGranted
\noptions
\nEnding
\nbalance
\nExercisable
\noptions
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n\u00d8yvind Isaksen - CEO
\n1 683 746
\n0
\n0
\n400 000
\n2 083 746
\n1 728 189
\nPierre Craen - CTO
\n310 615
\n0
\n0
\n100 000
\n410 615
\n321 726
\nAlf Henning Bekkevik - CFO
\n251 115
\n0
\n0
\n100 000
\n351 115
\n262 226
\nMarianne Sandal - COO
\n358 615
\n0
\n0
\n100 000
\n458 615
\n369 726
\nTotal management team
\n
\n
\n
\n
\n
\n
\n
\n2 604 091
\n0
\n0
\n700 000
\n3 304 091
\n2 681 868
\n
\nThe exercise price on exercisable share options for the management\u2019s balance at 31 December 2023 was NOK 10.17 per share in
\naverage. No share options were exercised in 2023.
\nIn the case of an offeror becoming the owner of at least 9/10 of the issued shares of poLight, all of the unvested share options
\nbecomes immediately vested and exercisable.
\n
\nRemuneration members of the board
\n
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\nGrethe Viksaas - chair of the board
\n1)
\n
\n
\n
\n
\n
\n
\n
\n500
\n338
\nAnn-Tove Kongsnes
\n2)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n258
\n325
\nSvenn Tore Larsen
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n258
\n250
\nJuha Alakarhu
\n3)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n125
\n250
\nThomas G\u00f6rling
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n258
\n250
\nTotal Board of Directors
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 399
\n1 413
\n1) Chair of the board from May 25, 2022
\n2) Chair of the board to May 25, 2022
\n3) Member to May 24, 2023
\n
\nThere are no loans from poLight to the management or members of the board.
\n
\nRemuneration of the nomination committee
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\nThomas S. Wrede-Holm - chair
\n
\n
\n
\n
\n
\n
\n40
\n40
\nJan-Erik H\u00e6reid
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n30
\n35
\nAnne E. H. Wors\u00f8e
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n30
\n35
\nTotal
\n
\n
\n
\n
\n
\n
\n100
\n110
\n
\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n
\n\n
\nRemuneration of the audit and sustainability committee
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\nAnn-Tove Kongsnes
\n
\n
\n
\n
\n
\n
\n57
\n0
\nGrethe Viksaas
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n48
\n0
\nTotal
\n
\n
\n
\n
\n
\n
\n105
\n0
\n
\nRemuneration of the remuneration committee
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\nAnn-Tove Kongsnes
\n
\n
\n
\n
\n
\n
\n38
\n0
\nGrethe Viksaas
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n45
\n0
\nThomas G\u00f6rling
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n45
\n0
\nTotal
\n
\n
\n
\n
\n
\n
\n128
\n0
\n
\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag306": {
"value": "\n
\n18 Related parties
\nThe financial statements include the financial statements of the Group and the subsidiaries listed in the following table:
\n
\nName
\nPrincipal activities
\nCountry of
\nincorporation
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\npoLight ASA
\nR&D, Sales and
\nmanagement
\nNorway
\n100 %
\n100 %
\npoLight France SAS
\nR&D
\nFrance
\n100 %
\n100 %
\npoLight Finland Oy
\nR&D
\nFinland
\n100 %
\n100 %
\npoLight Hong Kong Limited
\nHolding company
\nHK, China
\n100 %
\n100 %
\npoLight (Shenzhen) Technical
\nService Company Limited
\nSales
\nChina
\n100 %
\n100 %
\n
\npoLight ASA is the ultimate parent. None of the shareholders of poLight ASA has control of the company. As of 31 December 2023,
\nthe largest shareholder was Investinor Direkte AS, with an ownership of 13.44%.
\n
\n\nTransactions between group companies
\nIntercompany agreements are entered with all the subsidiaries in the Group. All sales in the subsidiaries are made with parent
\ncompany. All transactions are considered to be on an arm\u2019s length basis.
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nPurchases from subsidiaries
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n15 735
\n14 248
\n
\n\n\n\n\n
\n\n\n\n\n
\n\nSubordinated loan
\n
\n
\n
\n
\n
\n
\n
\n 2023
\n
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nEUR 000
\nNOK 000
\n
\nEUR 000
\nNOK 000
\nSubordinated loan agreement
\n
\n
\n
\n
\n
\n
\n
\n2 650
\n29 787
\n
\n2 750
\n28 913
\n
\nA subordinated loan agreement was concluded on 29 December 2016, between poLight ASA and poLight France SAS. Only the part
\nthat exceeds a prudent level, with regards to both equity and subordinated loan combined, shall be regarded as loan in respect to
\ninterest accrual. For the financial year 2023, the entire principal is considered as equity, and not interest-bearing. Since the loan is
\nconsidered to be a part of the net investment in poLight France SAS, the currency translation effect is recognised in OCI. In the parent
\ncompany an impairment loss of NOK 27,487,325 related to the subordinated loan have been recognised, whereof NOK 374,375
\nrecognised in 2023.
\n
\n\n\n\n\n
\nTransactions with other related parties
\nNo transactions have been made with other related parties for the relevant financial years.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag296": {
"value": "Norway",
"dimensions": {
"concept": "ifrs-full:CountryOfIncorporation",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag298": {
"value": "poLight ASA",
"dimensions": {
"concept": "ifrs-full:NameOfUltimateParentOfGroup",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag307": {
"value": "\nTransactions between group companies
\nIntercompany agreements are entered with all the subsidiaries in the Group. All sales in the subsidiaries are made with parent
\ncompany. All transactions are considered to be on an arm\u2019s length basis.
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nPurchases from subsidiaries
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n15 735
\n14 248
\n
\n\n\n\n\nSubordinated loan
\n
\n
\n
\n
\n
\n
\n
\n 2023
\n
\n2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\nEUR 000
\nNOK 000
\n
\nEUR 000
\nNOK 000
\nSubordinated loan agreement
\n
\n
\n
\n
\n
\n
\n
\n2 650
\n29 787
\n
\n2 750
\n28 913
\n
\nA subordinated loan agreement was concluded on 29 December 2016, between poLight ASA and poLight France SAS. Only the part
\nthat exceeds a prudent level, with regards to both equity and subordinated loan combined, shall be regarded as loan in respect to
\ninterest accrual. For the financial year 2023, the entire principal is considered as equity, and not interest-bearing. Since the loan is
\nconsidered to be a part of the net investment in poLight France SAS, the currency translation effect is recognised in OCI. In the parent
\ncompany an impairment loss of NOK 27,487,325 related to the subordinated loan have been recognised, whereof NOK 374,375
\nrecognised in 2023.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithRelatedPartiesExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag308": {
"value": "\nManagement remuneration
\nIn accordance with the Norwegian public Limited Companies Act \u00a76-16 a, the board of directors prepares a separate statement
\nrelated to the determination of salary and other benefits for the corporate management. The statement shall be subject to an
\nadvisory vote by the annual general meeting in accordance with \u00a75-6 (3). The statement for 2023 will be submitted for approval in
\nthe annual general meeting 22 May 2024 and will be available on poLight ASA\u2019s website at the time the notice of the meeting is sent
\nto the shareholders.
\nThe total remuneration to the management consists of fixed salary, bonus, benefits in-kind, share option program and pension
\nschemes. The fixed salary is subject to an annual evaluation, and any salary increases and other amendments to the employments
\nterms shall be based on a review by the CEO and the Board each year, taking into account trends in local labour markets, the results
\nachieved, and individual contributions to the development of the Company.
\n(in NOK 000)
\n
\n
\n
\n
\n
\nSalaries
\nBonus
\nPension
\ncosts
\nOther
\nbenefits
\nValue
\n1)
\n
\nshare
\noptions
\nTotal 2023
\n Total 2022
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n\u00d8yvind Isaksen - CEO
\n
\n
\n3 437
\n1 331
\n170
\n400
\n1 919
\n7 256
\n5 016
\nPierre Craen - CTO
\n2)
\n
\n
\n
\n
\n2 413
\n351
\n0
\n0
\n398
\n3 162
\n2 660
\nAlf Henning Bekkevik - CFO
\n1 398
\n185
\n161
\n19
\n460
\n2 223
\n1 569
\nMarianne Sandal - COO
\n
\n
\n1 785
\n236
\n190
\n83
\n476
\n2 770
\n2 438
\nTotal management team
\n
\n
\n
\n
\n
\n
\n
\n
\n9 034
\n2 104
\n520
\n502
\n3 252
\n15 412
\n11 683
\n
\n1) Fair value of the share options vested in 2023 are calculated using the Black-Scholes option pricing model at the date of the
\ngrant. No share options were exercised in 2023.
\n2) Pierre Craen has invoiced NOK 2,764 (2022: NOK 2,549) thousands of the remuneration through Tilia-Blue SRL as a
\nconsultant, included in the above figure.
\n
\n\n\n\n\n
\n
\nIf the company terminates the CEO\u2019s employment, the CEO is entitled to nine months\u2019 salary, in addition to a three months\u2019 notice
\nperiod.
\n
\nBelow is an overview of poLight management's and board members' granted share options:
\n
\n
\n
\n
\n
\n
\n
\n
\nOpening
\nbalance
\nForfeited
\noptions
\nExercised
\noptions
\nGranted
\noptions
\nEnding
\nbalance
\nExercisable
\noptions
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n\u00d8yvind Isaksen - CEO
\n1 683 746
\n0
\n0
\n400 000
\n2 083 746
\n1 728 189
\nPierre Craen - CTO
\n310 615
\n0
\n0
\n100 000
\n410 615
\n321 726
\nAlf Henning Bekkevik - CFO
\n251 115
\n0
\n0
\n100 000
\n351 115
\n262 226
\nMarianne Sandal - COO
\n358 615
\n0
\n0
\n100 000
\n458 615
\n369 726
\nTotal management team
\n
\n
\n
\n
\n
\n
\n
\n2 604 091
\n0
\n0
\n700 000
\n3 304 091
\n2 681 868
\n
\nThe exercise price on exercisable share options for the management\u2019s balance at 31 December 2023 was NOK 10.17 per share in
\naverage. No share options were exercised in 2023.
\nIn the case of an offeror becoming the owner of at least 9/10 of the issued shares of poLight, all of the unvested share options
\nbecomes immediately vested and exercisable.
\n
\nRemuneration members of the board
\n
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\nGrethe Viksaas - chair of the board
\n1)
\n
\n
\n
\n
\n
\n
\n
\n500
\n338
\nAnn-Tove Kongsnes
\n2)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n258
\n325
\nSvenn Tore Larsen
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n258
\n250
\nJuha Alakarhu
\n3)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n125
\n250
\nThomas G\u00f6rling
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n258
\n250
\nTotal Board of Directors
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n1 399
\n1 413
\n1) Chair of the board from May 25, 2022
\n2) Chair of the board to May 25, 2022
\n3) Member to May 24, 2023
\n
\nThere are no loans from poLight to the management or members of the board.
\n
\nRemuneration of the nomination committee
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\nThomas S. Wrede-Holm - chair
\n
\n
\n
\n
\n
\n
\n40
\n40
\nJan-Erik H\u00e6reid
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n30
\n35
\nAnne E. H. Wors\u00f8e
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n30
\n35
\nTotal
\n
\n
\n
\n
\n
\n
\n100
\n110
\n
\n\n\n\n\n\n\n\n\n\n
\nRemuneration of the audit and sustainability committee
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\nAnn-Tove Kongsnes
\n
\n
\n
\n
\n
\n
\n57
\n0
\nGrethe Viksaas
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n48
\n0
\nTotal
\n
\n
\n
\n
\n
\n
\n105
\n0
\n
\nRemuneration of the remuneration committee
\n(in NOK 000)
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n2023
\n2022
\nAnn-Tove Kongsnes
\n
\n
\n
\n
\n
\n
\n38
\n0
\nGrethe Viksaas
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n45
\n0
\nThomas G\u00f6rling
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n45
\n0
\nTotal
\n
\n
\n
\n
\n
\n
\n128
\n0
\n
\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag301": {
"value": "\n
\n
\n\n19 Going Concern and events after the end of the reporting period
\nFor the next 12 months, the Group's principal source of liquidity will still be cash generated from financing, equity and/or debt, in
\naddition to net cash flows generated from sales. Management and the Board of Directors are continuously evaluating the Group\u2019s
\nliquidity requirements and management is dependent on raising additional financing in order to be able to finance their planned
\noperations and R&D activities over the next 12 months from the release of this report.
\n18
\nth
\n April 2024 the company held an extraordinary general meeting that approved to carry out an underwritten rights issue with
\ngross proceeds of up to NOK 160 million, of which subscription of shares for NOK 130 million will be underwritten. The net proceeds
\nfrom the rights issue will be used to strengthen the Company's liquidity into 2026, enabling significant advancements in
\ncommercializing the Company's proprietary and patented tunable optics and thus facilitating:
\n\u2022 the elevation of customer engagement to secure pivotal design wins and foster strategic relationships with key market
\nplayers and thereby driving growth across multiple market segments;
\n\u2022 the broadening and enhancement of poLight's product offerings; and
\n\u2022 the continued improvement and maturation of poLight's supply chain to solidify its status as a reliable partner for
\ncustomers.
\nThe underwriting agreements of NOK 130 million are unconditional and irrevocable. All the conditions for the obligations of the
\nunderwriters have been met.
\nAccordingly, these consolidated financial statements have been prepared under the assumption that both the Group and the parent
\ncompany are going concerns.
\nNo events have occurred after the end of the reporting period that requires disclosure except the underwritten rights issue
\nmentioned above.
\n
\n\n\n\n\n
\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGoingConcernExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag305": {
"value": "\n19 Going Concern and events after the end of the reporting period
\nFor the next 12 months, the Group's principal source of liquidity will still be cash generated from financing, equity and/or debt, in
\naddition to net cash flows generated from sales. Management and the Board of Directors are continuously evaluating the Group\u2019s
\nliquidity requirements and management is dependent on raising additional financing in order to be able to finance their planned
\noperations and R&D activities over the next 12 months from the release of this report.
\n18
\nth
\n April 2024 the company held an extraordinary general meeting that approved to carry out an underwritten rights issue with
\ngross proceeds of up to NOK 160 million, of which subscription of shares for NOK 130 million will be underwritten. The net proceeds
\nfrom the rights issue will be used to strengthen the Company's liquidity into 2026, enabling significant advancements in
\ncommercializing the Company's proprietary and patented tunable optics and thus facilitating:
\n\u2022 the elevation of customer engagement to secure pivotal design wins and foster strategic relationships with key market
\nplayers and thereby driving growth across multiple market segments;
\n\u2022 the broadening and enhancement of poLight's product offerings; and
\n\u2022 the continued improvement and maturation of poLight's supply chain to solidify its status as a reliable partner for
\ncustomers.
\nThe underwriting agreements of NOK 130 million are unconditional and irrevocable. All the conditions for the obligations of the
\nunderwriters have been met.
\nAccordingly, these consolidated financial statements have been prepared under the assumption that both the Group and the parent
\ncompany are going concerns.
\nNo events have occurred after the end of the reporting period that requires disclosure except the underwritten rights issue
\nmentioned above.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag299": {
"value": "\n
\n\n20 Standards issued, but not yet effective
\nIssued new standards and amendments are either not applicable for the Group or are not considered to have a significant impact on
\nthe financial statements.
\n
\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
},
"Tag300": {
"value": "\n20 Standards issued, but not yet effective
\nIssued new standards and amendments are either not applicable for the Group or are not considered to have a significant impact on
\nthe financial statements.
\n
\n\n\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00"
}
}
}
}