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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 Kjelleveien 21A, N-3125 T\u00f8nsberg, Norway.
\npoLight ASA (OSE: PLT) offers a patented, proprietary tunable optics technology, starting with its first product, TLens\u00ae which replicates
\n\"the human eye\" experience in autofocus cameras used in devices such as smartphones, wearables, barcode scanners, machine vision
\nsystems and various medical equipment. poLight's TLens\u00ae enables better system performance and new user experiences due to
\nbenefits such as extremely fast focus, small footprint, no magnetic interference, low power consumption and constant field of view.
\npoLight\u00ae is headquartered in T\u00f8nsberg, Norway, with employees in Finland, France, UK, US, China, Taiwan, Japan and the Philippines.
\nFor more information, please visit https://www.polight.com.
\nInformation on the Group and related parties are presented in Note 18 Related parties.
\n\n
The consolidated financial statements of poLight ASA and its subsidiaries (collectively, poLight or the Group) for the year ended 31
\n
December 2025 were authorised for issue in accordance with a resolution of the Board of Directors on 28 April 2025, to be approved
\n
by the annual general meeting on 20 May 2026.
\n
\n\n\n\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag126": {
"value": "poLight ASA",
"dimensions": {
"concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag127": {
"value": "poLight ASA",
"dimensions": {
"concept": "ifrs-full:NameOfUltimateParentOfGroup",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag128": {
"value": "poLight ASA",
"dimensions": {
"concept": "ifrs-full:NameOfParentEntity",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag129": {
"value": "publicly listed limited company",
"dimensions": {
"concept": "ifrs-full:LegalFormOfEntity",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag130": {
"value": "Norway",
"dimensions": {
"concept": "ifrs-full:DomicileOfEntity",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag131": {
"value": "Norway",
"dimensions": {
"concept": "ifrs-full:CountryOfIncorporation",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag132": {
"value": "Norway",
"dimensions": {
"concept": "ifrs-full:PrincipalPlaceOfBusiness",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag147": {
"value": "Kjelleveien 21A, N-3125 T\u00f8nsberg, Norway",
"dimensions": {
"concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag133": {
"value": "poLight ASA (OSE: PLT) offers a patented, proprietary tunable optics technology",
"dimensions": {
"concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities",
"language": "en",
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"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag134": {
"value": "\nThe consolidated financial statements of poLight ASA and its subsidiaries (collectively, poLight or the Group) for the year ended 31
\nDecember 2025 were authorised for issue in accordance with a resolution of the Board of Directors on 28 April 2025, to be approved
\nby the annual general meeting on 20 May 2026.
\n
\n\n\n\n",
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"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag135": {
"value": "\n
\n
\n
\n2 Material accounting policies
\n\n
\n
\n
2.1 Basis of preparation
\n
\n
The consolidated financial statements of the Group have been prepared in accordance with IFRS\u00ae Accounting Standards adopted by
\n
the EU.
\n
\n\n\n\n
\n
\n
The consolidated financial statements have been prepared on a historical cost basis. The consolidated financial statements are
\n
presented 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
2.2 Basis of consolidation
\n
The consolidated financial statements comprise the financial statements of poLight ASA and its subsidiaries.
\n
\n\n\n\n
2.3 Summary of material accounting policies
\nThe following are the material accounting policies applied by the Group in preparing its consolidated financial statements:
\n\n
Revenue from contracts with customers
\n
The Group has two revenue streams:
\n
\u2022 Sales of TLenses and related driver ASICs.
\n
The Group recognizes revenue from sale of TLenses and other components at the point in time when the control of goods is
\n
transferred to the customer at an amount that reflects the consideration to which the Group expects to be entitled in
\n
exchange 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.
\n
In certain cases, when the counterparty to the contract is a customer or a potential customer, the Group will engage in
\n
customer development projects financed by the customer. In general, income is recognised when the project is finalised
\n
according to the contract and the customer can obtain the benefits from the project. Revenue may be recognised over time
\n
when one of the following criteria are met:
\n
\u2022 Customer consumes benefits as the Group performs the service
\n
\u2022 Customer controls benefits as the Group performs the service
\n
\n\n\n\n
\n\n\n\n\n
\n
\n
\n
\n\n
\n
Earned revenue for the period is earned revenue at the reporting date, less earned revenue in prior periods. If the project is
\n
ongoing, income will be recognized continuously in accordance with the agreement, based on actual deliveries.
\n
The Group has for the periods presented limited sales and revenues. Further information on revenue recognition or disclosures
\n
according to IFRS 15 is consequently not relevant for these financial statements.
\n
\n\n\n\n
\n
Foreign currencies
\n
The Group\u2019s consolidated financial statements are presented in Norwegian kroner (NOK), which is also the parent company\u2019s
\n
functional currency. For each entity, the Group determines the functional currency, and items included in the financial statements of
\n
each entity are measured using that functional currency. The Group uses the direct method of consolidation, and on disposal of a
\n
foreign operation, the gain or loss that is reclassified to profit or loss reflects the amount that arises from using this method.
\n
Differences arising on settlement or translation of monetary items are recognised in profit or loss.
\n
On consolidation, the assets and liabilities of foreign operations are translated into NOK at the rate of exchange prevailing at the
\n
reporting date, and the statement of profit or loss are translated at average monthly exchange rates. The exchange differences arising
\n
on the translation are recognised in OCI. Exchange differences arising from the translation of net investment in subsidiaries and
\n
borrowings are included in OCI. At December 31, 2025 an intercompany subordinated loan to poLight France SAS of EUR 2,600,000 /
\n
NOK 30,199,650 (2024: EUR 2,650,000 / NOK 31,256,750) was regarded as a part of the net investment in poLight France SAS.
\n
\n\n\n\n
\n
Government grants
\n
Government grants are recognised when there is reasonable assurance that the grant will be received, and that all attached
\n
conditions will be complied with. When the grant relates to an expense item, it is deducted from the related expense on a systematic
\n
basis over the periods that the costs, which it is intended to compensate, are expensed. Where the grant relates to an asset, it reduces
\n
the carrying amount of the asset. The grant is then recognised as income over the useful life of the depreciable asset, by way of a
\n
reduced depreciation charge.
\n
\n\n\n\n
\n
\n
Taxes
\n
Current income tax
\n
Current income tax assets and liabilities for the current period are measured at the amount expected to be recovered from or paid
\n
to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted, or substantively
\n
enacted at the reporting date in the countries where the Group operates and generates taxable income.
\n
Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations
\n
are subject to interpretation, and it establishes provisions where appropriate.
\n
\n
Deferred tax
\n
Deferred tax is provided using the liability method on temporary differences between the tax bases of assets and liabilities, and their
\n
carrying amounts, for financial reporting purposes at the reporting date.
\n
Deferred tax liabilities are recognised for all taxable temporary differences.
\n
Deferred tax assets are recognised for: all deductible temporary differences: the carry forward of unused tax credits and unused tax
\n
losses, to the extent that it is probable that taxable profit will be available against which the deductible temporary differences.
\n
The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable
\n
that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilised. Unrecognised deferred tax
\n
assets are reassessed at each reporting date, and are recognised, to the extent that it has become probable that future taxable profits
\n
will allow the deferred tax asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected
\n
to 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
\n
substantively enacted at the end of the reporting period.
\n
Deferred tax relating to items recognised outside profit or loss is recognised outside profit or loss. Deferred tax items are recognised
\n
in correlation to the underlying transaction, either in other comprehensive income or directly in equity.
\n
\n\n\n\n
\n
\n\n\n\n
\n\n\n\n\n
\n
\n
\n
\n
\n\n
\n
\n
Deferred tax assets and deferred tax liabilities are offset, if a legally enforceable right exists to set off current tax assets against
\n
current 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
Property, plant and equipment
\n
Office/lab upgrades and equipment are stated at cost, net of accumulated depreciation and/or accumulated impairment losses, if
\n
any. Such cost includes the cost of replacing parts of the facility upgrades and equipment. Repair and maintenance costs are
\n
recognised in the profit or loss as incurred. Refer to Significant accounting judgements, estimates and assumptions (Note 3).
\n
Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets, as follows:
\n
\n
\n\n\n| \u2022 | \nLeased building: | \nThe duration of the lease agreement | \n\n\n\n\n\n\n
\n\n| \u2022 | \nEquipment: | \n3 to 6 years | \n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n
An item of office/lab upgrade and equipment is derecognised upon disposal, or when no future economic benefits are expected from
\n
its use or disposal. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal
\n
proceeds and the carrying amount of the asset) is included in the statement of profit or loss when the asset is derecognised.
\n
The residual values, useful lives and methods of depreciation of office/lab upgrade and equipment are reviewed at each financial
\n
year end, and adjusted prospectively, if appropriate.
\n
\n\n\n\n
\n
\n\n\n\n
\n
Leases
\n
The Group assesses at contract inception whether a contract is, or contains, a lease.
\n
Group as a lessee
\n
The Group applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low-value
\n
assets. The Group recognises lease liabilities to make lease payments and right-of-use assets representing the right to use the
\n
underlying assets.
\n
Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any
\n
remeasurement of lease liabilities.
\n
Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the
\n
assets, as follows:
\n
\u2022 Office & lab lease, headquarter
\n
The right-of-use assets are also subject to an impairment assessment.
\n
In calculating the present value of the fixed lease payments, the Group uses its incremental borrowing rate at the lease
\n
commencement date because the interest rate implicit in the lease is not readily determinable.
\n
The Group applies the short-term lease recognition exemption to its short-term leases of office leases in Finland and China (i.e., those
\n
leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also
\n
applies the lease of low-value assets recognition exemption to leases of office equipment that are considered to be low value. Lease
\n
payments 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
\n
Intangible assets
\n
Intangible assets acquired separately, are measured on initial recognition at cost. Following initial recognition, intangible assets are
\n
carried at cost less accumulated amortisation and accumulated impairment losses, if any. Internally generated intangible assets,
\n
excluding capitalised development costs, are not capitalised, and expenditure is recognised in the statement of profit or loss when it
\n
is incurred.
\n
The useful lives of intangible assets are assessed as either finite or indefinite.
\n
\n
Development costs
\n
Research costs are expensed as incurred. Development expenditures on an individual project are recognised as an intangible asset
\n
when the Group can demonstrate:
\n
\n\n\n\n
\n
\n\n\n\n
\n\n\n\n\n
\n
\n
\n\n
\n
\n
\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
\n
Expenses related to the development of the TLens\u00ae technology platform were recognised as an intangible asset with effect from
\n
2015. The development project ended in 2019 when the initial mass production line was qualified. Since then, R&D resources have
\n
been devoted to improvement projects and helping customers to integrate TLens\u00ae into their products. Related costs have therefore
\n
not been recognised as an intangible asset.
\n
The company has also engaged in research/concept studies related to potential new products. However, as they have not met the
\n
definition given above, they have not been defined as an intangible asset. This relates, for example, to the TWedge\u00ae \u2013 a potential
\n
product for the enhancement of AR/MR display solutions.
\n
\n\n\n\n
\n
\n
Software license
\n
Licences for the use of intellectual property are granted for periods ranging between three and five years, depending on the specific
\n
licence.
\n
A summary of the policies applied to the Group\u2019s intangible assets is as follows:
\n
\n
\n\n\n | \nSoftware licence | \nDevelopment costs | \n\n\n\n\n\n\n
\n\n| Useful lives | \nFinite (3-5 years) | \nFinite (3-7 years) | \n\n\n\n\n\n\n
\n\n| Amortisation method used | \nAmortised on a straight- line basis | \nAmortised on a straight- line basis over | \n\n\n\n\n\n\n
\n\n | \nover the lives of the licences | \nthe period of expected consumption of | \n\n\n\n\n\n\n
\n\n | \n | \nfuture economic benefits from the | \n\n\n\n\n\n\n
\n\n | \n | \nrelated project | \n\n\n\n\n\n\n
\n\n| Internally generated or acquired | \nAcquired | \nInternally generated | \n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n
\n\n\n\n
\n
\n\n\n\n
\n\n
\n
\n
Financial instruments
\n
A financial instrument is any contract that gives rise to a financial asset of one entity, and a financial liability or equity instrument of
\n
another entity.
\n
\n
i) Financial assets
\n
The Group\u00b4s financial assets are trade receivables, government grant receivables, accruals and cash.
\n
Trade receivables are measured at the transaction price determined under IFRS 15 Revenue from contracts with customers. The
\n
other financial assets are measured initially at fair value plus transaction costs.
\n
Subsequently the assets are measured at amortised cost. Gains and losses are recognised in profit or loss when the asset is
\n
derecognised, modified or impaired.
\n
\n\n\n\n
\n
\n
ii) Financial liabilities
\n
Financial liabilities are recognised initially at net of directly attributable transaction costs and subsequently measured at amortised
\n
cost.
\n
A 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
Impairment of financial assets
\n
For trade receivables and contract assets, the Group applies a simplified approach in calculating expected credit losses (ECLs).
\n
Therefore, the Group does not track changes in credit risk, but instead recognises a loss allowance based on lifetime ECLs at each
\n
reporting date.
\n
\n\n\n\n
\n
\n\n\n\n
\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n\n
\n
\n
\n
A 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
Inventories
\n
Inventories are valued at the lower of cost and net realisable value.
\n
Costs incurred in bringing each product to its present location and condition, are accounted for as follows:
\n
Components:
\n
\u2022 Purchase cost on a first-in, first-out basis
\n
Finished goods and work in progress:
\n
\u2022 Cost of direct materials and services from subcontractors
\n
Net realisable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and the
\n
estimated costs to sell. When determining the net realisable value, the Group assesses the provision for obsolescence. Customers\u2019
\n
demand and age are parameters that are considered when assessing this provision.
\n
\n\n\n\n
\n
\n
\n
Impairment of non-financial assets
\n
Disclosures relating to impairment of non-financial assets are summarised in the following notes:
\n
\n
\n\n\n| \u2022 | \nDisclosures of significant judgements and estimation uncertainty | \nNote | \n3 | \n\n\n\n\n\n\n
\n\n| \u2022 | \nProperty, plant and equipment | \nNote | \n8 | \n\n\n\n\n\n\n
\n\n| \u2022 | \nIntangible assets | \nNote | \n9 | \n\n\n\n\n\n\n
\n\n| \u2022 | \nResearch and development costs | \nNote | \n10 | \n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n
The Group assesses at each reporting date whether there is an indication that an asset may be impaired. If any indication exists, or
\n
when annual impairment testing for an asset is required, the Group estimates the asset\u2019s recoverable amount. An asset\u2019s recoverable
\n
amount 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
\n
amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those
\n
from other assets, or groups of assets. Where the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is
\n
considered impaired, and is written down to its recoverable amount.
\n
In assessing value in use, the estimated future cash flows are discounted to their present value, using a discount rate that reflects
\n
current market assessments of the time value of money and the risks specific to the asset. In determining fair value less costs of
\n
disposal, recent market transactions are taken into account. If no such transactions can be identified, an appropriate valuation model
\n
is used.
\n
Value in use impairment calculation is based on detailed budgets and forecasts and with use of scenario analyses. These budgets and
\n
forecast calculations are generally covering a period of five years. A long-term growth rate is calculated and applied to project future
\n
cash flows after the fifth year.
\n
Impairment losses are recognised in the consolidated statement of comprehensive income.
\n
\n\n\n\n
\n
\n\n\n\n
\n\n
Cash and short-term deposits
\n
Cash and short-term deposits in the statement of financial position comprise cash at banks and on hand, and short-term deposits
\n
with a maturity of three months or less, which are subject to an insignificant risk of changes in value.
\n
For the purpose of the consolidated statement cash flows, cash and cash equivalents consist of cash and short-term deposits as
\n
defined above, as they are considered an integral part of the Group\u2019s cash management.
\n
\n\n\n\n
\n
Provisions
\n
The Group\u2019s terms and conditions agreed with the customers contains a warranty clause. A general provision to meet potential claims
\n
under the clause have been recognised (Note 17 Provisions).
\n
\n\n\n\n
\n\n\n\n\n
\n
\n\n
Pensions and other post-employment benefits
\n
The Group operates one defined contribution plan. Contributions are recognised in the statement of income in the period in which
\n
the contribution amounts are earned by the employee.
\n
\n\n\n\n
\n
Share option plans
\n
Employees (including senior executives) of the Group have received remuneration in the form of share options in poLight ASA (equity-
\n
settled transactions). The fair value of share options that are granted has been calculated using the Black-Scholes option pricing
\n
model. The basis for the valuation comprises several factors that affect the calculated fair value of granted share options like the
\n
share price at the date of the grant, exercise price (strike), the likelihood of holding the share options to expiry date, risk-free interest
\n
rate and the volatility that is deemed based on historic volatility of the poLight share.
\n
The cost of equity-settled transactions is recognised in employee benefits expense (Note 5.3 Employee benefits expense), together
\n
with a corresponding increase in equity (other equity) over the period in which the service and, where applicable, the performance
\n
conditions are fulfilled (the vesting period). The cumulative expense recognised for equity-settled transactions at each reporting date
\n
until the vesting date, reflects the extent to which the vesting period has expired, and the Group\u2019s best estimate of the number of
\n
equity instruments that will ultimately vest. The share options expense recognised in the income statement includes accrued
\n
employer\u2019s national insurance contribution (\u201cNICs\u201d) expenses that are calculated based on the number of vested share options and
\n
a proportion of share options under vesting multiplied by the difference between market price and exercise price at the end for the
\n
period. The NICs is accounted for as a cash settled element with a liability recognised in the consolidated statement of financial
\n
position. The expense in the consolidated statement of income for a period, represents the movement in cumulative expense
\n
recognised as at the beginning and end of that period.
\n
The 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",
"dimensions": {
"concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag136": {
"value": "\n
\n
\n2.1 Basis of preparation
\n\n
The consolidated financial statements of the Group have been prepared in accordance with IFRS\u00ae Accounting Standards adopted by
\n
the EU.
\n
\n\n\n\n
\n
The consolidated financial statements have been prepared on a historical cost basis. The consolidated financial statements are
\n
presented 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",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag137": {
"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",
"dimensions": {
"concept": "ifrs-full:StatementOfIFRSCompliance",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag138": {
"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",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag139": {
"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",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag140": {
"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\u2022 Customer consumes benefits as the Group performs the service
\n\u2022 Customer controls benefits as the Group performs the service
\n
\n\n\n\n\n
\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": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag143": {
"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, 2025 an intercompany subordinated loan to poLight France SAS of EUR 2,600,000 /
\nNOK 30,199,650 (2024: EUR 2,650,000 / NOK 31,256,750) 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": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag144": {
"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": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag145": {
"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\n
Deferred tax
\n
Deferred tax is provided using the liability method on temporary differences between the tax bases of assets and liabilities, and their
\n
carrying amounts, for financial reporting purposes at the reporting date.
\n
Deferred tax liabilities are recognised for all taxable temporary differences.
\n
Deferred tax assets are recognised for: all deductible temporary differences: the carry forward of unused tax credits and unused tax
\n
losses, to the extent that it is probable that taxable profit will be available against which the deductible temporary differences.
\n
The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable
\n
that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilised. Unrecognised deferred tax
\n
assets are reassessed at each reporting date, and are recognised, to the extent that it has become probable that future taxable profits
\n
will allow the deferred tax asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected
\n
to 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
\n
substantively enacted at the end of the reporting period.
\n
Deferred tax relating to items recognised outside profit or loss is recognised outside profit or loss. Deferred tax items are recognised
\n
in correlation to the underlying transaction, either in other comprehensive income or directly in equity.
\n
\n\n\n\n
\n\n\n\n\n
\n\n
Deferred tax assets and deferred tax liabilities are offset, if a legally enforceable right exists to set off current tax assets against
\n
current 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",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag146": {
"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
\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.
\n
\n\n\n\n\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": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag151": {
"value": "\n
\n\n
Property, plant and equipment
\n
Office/lab upgrades and equipment are stated at cost, net of accumulated depreciation and/or accumulated impairment losses, if
\n
any. Such cost includes the cost of replacing parts of the facility upgrades and equipment. Repair and maintenance costs are
\n
recognised in the profit or loss as incurred. Refer to Significant accounting judgements, estimates and assumptions (Note 3).
\n
Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets, as follows:
\n
\n
\n\n\n| \u2022 | \nLeased building: | \nThe duration of the lease agreement | \n\n\n\n\n\n\n
\n\n| \u2022 | \nEquipment: | \n3 to 6 years | \n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n
An item of office/lab upgrade and equipment is derecognised upon disposal, or when no future economic benefits are expected from
\n
its use or disposal. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal
\n
proceeds and the carrying amount of the asset) is included in the statement of profit or loss when the asset is derecognised.
\n
The residual values, useful lives and methods of depreciation of office/lab upgrade and equipment are reviewed at each financial
\n
year end, and adjusted prospectively, if appropriate.
\n
\n\n\n\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag152": {
"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\n
\n\n\n| \u2022 | \nLeased building: | \nThe duration of the lease agreement | \n\n\n\n\n\n\n
\n\n| \u2022 | \nEquipment: | \n3 to 6 years | \n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
An 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": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag153": {
"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": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag154": {
"value": "\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.
\nThe useful lives of intangible assets are assessed as either finite or indefinite.
\n\n
Development costs
\n
Research costs are expensed as incurred. Development expenditures on an individual project are recognised as an intangible asset
\n
when the Group can demonstrate:
\n
\n\n\n\n
\n\n\n\n\n
\n
\n\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
\n
Expenses related to the development of the TLens\u00ae technology platform were recognised as an intangible asset with effect from
\n
2015. The development project ended in 2019 when the initial mass production line was qualified. Since then, R&D resources have
\n
been devoted to improvement projects and helping customers to integrate TLens\u00ae into their products. Related costs have therefore
\n
not been recognised as an intangible asset.
\n
The company has also engaged in research/concept studies related to potential new products. However, as they have not met the
\n
definition given above, they have not been defined as an intangible asset. This relates, for example, to the TWedge\u00ae \u2013 a potential
\n
product for the enhancement of AR/MR display solutions.
\n
\n\n\n\n
\n
Software license
\n
Licences for the use of intellectual property are granted for periods ranging between three and five years, depending on the specific
\n
licence.
\n
A summary of the policies applied to the Group\u2019s intangible assets is as follows:
\n
\n
\n\n\n | \nSoftware licence | \nDevelopment costs | \n\n\n\n\n\n\n
\n\n| Useful lives | \nFinite (3-5 years) | \nFinite (3-7 years) | \n\n\n\n\n\n\n
\n\n| Amortisation method used | \nAmortised on a straight- line basis | \nAmortised on a straight- line basis over | \n\n\n\n\n\n\n
\n\n | \nover the lives of the licences | \nthe period of expected consumption of | \n\n\n\n\n\n\n
\n\n | \n | \nfuture economic benefits from the | \n\n\n\n\n\n\n
\n\n | \n | \nrelated project | \n\n\n\n\n\n\n
\n\n| Internally generated or acquired | \nAcquired | \nInternally generated | \n\n\n\n\n\n\n
\n\n\n\n\n\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:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag155": {
"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
\n\n\n\n\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 to improvement projects and helping customers to integrate TLens\u00ae into their products. Related costs have therefore
\nnot 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": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag159": {
"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\n
\n\n\n | \nSoftware licence | \nDevelopment costs | \n\n\n\n\n\n\n
\n\n| Useful lives | \nFinite (3-5 years) | \nFinite (3-7 years) | \n\n\n\n\n\n\n
\n\n| Amortisation method used | \nAmortised on a straight- line basis | \nAmortised on a straight- line basis over | \n\n\n\n\n\n\n
\n\n | \nover the lives of the licences | \nthe period of expected consumption of | \n\n\n\n\n\n\n
\n\n | \n | \nfuture economic benefits from the | \n\n\n\n\n\n\n
\n\n | \n | \nrelated project | \n\n\n\n\n\n\n
\n\n| Internally generated or acquired | \nAcquired | \nInternally generated | \n\n\n\n\n\n\n
\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:DescriptionOfAccountingPolicyForProgrammingAssetsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag160": {
"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\n
i) Financial assets
\n
The Group\u00b4s financial assets are trade receivables, government grant receivables, accruals and cash.
\n
Trade receivables are measured at the transaction price determined under IFRS 15 Revenue from contracts with customers. The
\n
other financial assets are measured initially at fair value plus transaction costs.
\n
Subsequently the assets are measured at amortised cost. Gains and losses are recognised in profit or loss when the asset is
\n
derecognised, modified or impaired.
\n
\n\n\n\n
\n
ii) Financial liabilities
\n
Financial liabilities are recognised initially at net of directly attributable transaction costs and subsequently measured at amortised
\n
cost.
\n
A 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",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag161": {
"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": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag162": {
"value": "\nii) Financial liabilities
\nFinancial liabilities are recognised initially at net of directly attributable transaction costs and subsequently measured at amortised
\ncost.
\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": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag163": {
"value": "\n
\n\n
Impairment of financial assets
\n
For trade receivables and contract assets, the Group applies a simplified approach in calculating expected credit losses (ECLs).
\n
Therefore, the Group does not track changes in credit risk, but instead recognises a loss allowance based on lifetime ECLs at each
\n
reporting date.
\n
\n\n\n\n
\n\n\n\n\n
\n\n
\n
A 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",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag164": {
"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
\n\n\n\n\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\n
\n\n\n| \u2022 | \nDisclosures of significant judgements and estimation uncertainty | \nNote | \n3 | \n\n\n\n\n\n\n
\n\n| \u2022 | \nProperty, plant and equipment | \nNote | \n8 | \n\n\n\n\n\n\n
\n\n| \u2022 | \nIntangible assets | \nNote | \n9 | \n\n\n\n\n\n\n
\n\n| \u2022 | \nResearch and development costs | \nNote | \n10 | \n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
The 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": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag168": {
"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": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag169": {
"value": "\n
\n\n
Impairment of non-financial assets
\n
Disclosures relating to impairment of non-financial assets are summarised in the following notes:
\n
\n
\n\n\n| \u2022 | \nDisclosures of significant judgements and estimation uncertainty | \nNote | \n3 | \n\n\n\n\n\n\n
\n\n| \u2022 | \nProperty, plant and equipment | \nNote | \n8 | \n\n\n\n\n\n\n
\n\n| \u2022 | \nIntangible assets | \nNote | \n9 | \n\n\n\n\n\n\n
\n\n| \u2022 | \nResearch and development costs | \nNote | \n10 | \n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n
The Group assesses at each reporting date whether there is an indication that an asset may be impaired. If any indication exists, or
\n
when annual impairment testing for an asset is required, the Group estimates the asset\u2019s recoverable amount. An asset\u2019s recoverable
\n
amount 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
\n
amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those
\n
from other assets, or groups of assets. Where the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is
\n
considered impaired, and is written down to its recoverable amount.
\n
In assessing value in use, the estimated future cash flows are discounted to their present value, using a discount rate that reflects
\n
current market assessments of the time value of money and the risks specific to the asset. In determining fair value less costs of
\n
disposal, recent market transactions are taken into account. If no such transactions can be identified, an appropriate valuation model
\n
is used.
\n
Value in use impairment calculation is based on detailed budgets and forecasts and with use of scenario analyses. These budgets and
\n
forecast calculations are generally covering a period of five years. A long-term growth rate is calculated and applied to project future
\n
cash flows after the fifth year.
\n
Impairment losses are recognised in the consolidated statement of comprehensive income.
\n
\n\n\n\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag171": {
"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.
\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": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag172": {
"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": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag174": {
"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": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag175": {
"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": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag176": {
"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
\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.
\n
\nImpairment of non-financial fixed and intangible 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 2025, no impairment indicators have been
\n
\n\n\n\n\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 goods sold if an
\nimpairment test 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 will not likely be offered for sale to the smart phone market or other mass market products as was intended
\noriginally when the wafers were produced. In addition, a general provision has been made for aging of wafers and materials. As a
\ngeneral rule, a provision equal to 10% of the cost price is recognized for each year after the year of purchase or assembly. Accordingly,
\none-year-old wafers and units are provided for at 10%, two-year-old items at 20%, and three-year-old items at 30% etc. As there
\nhave been limited sales volumes to date, the provisions made are subject to significant estimation uncertainty. The provision is
\ndisclosed in Note 12 Inventories.
\nImpairment of non-financial fixed and intangible assets
\nAs described in note 3.1 and note 10 Development costs, the Group has not performed an impairment test during 2025, among other
\nthings with reference to its market capitalisation. The market capitalisation at 31 December 2025 materially exceeded the carrying
\namount of equity. The share price improved slightly during the first quarter of 2026, and accordingly the market capitalisation at the
\nend of the first quarter of 2026 remained above the carrying amount of equity at 31 December 2025. If the market capitalisation
\nshould decline below the carrying amount of equity, or other impairment indicators are present, the Group would have to perform
\nan impairment test, which could result in an impairment charge being recognised.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag178": {
"value": "\n
\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 scanners, machine vision systems and
\nvarious medical equipment. poLight's TLens\u00ae enables better system performance and new user experiences due to benefits such as
\nextremely fast focus, small footprint, no magnetic interference, low power consumption and constant field of view.
\n\n
\n
\n\n\n| Geographical distribution | \nRevenue | \n | \n\n\n\n\n\n\n
\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n
\n\n| America | \n8 875 | \n4 982 | \n\n\n\n\n\n\n
\n\n| Asia | \n10 787 | \n4 410 | \n\n\n\n\n\n\n
\n\n| Europe | \n822 | \n232 | \n\n\n\n\n\n\n
\n\n| Total | \n20 484 | \n9 624 | \n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n
\n
\n\n\n\n
\n\n\n\n\n
\n\n
\n
\n
\n\n\n| Geographical distribution | \nRight-of-use assets | \nMachinery & equipment | \nDevelopment costs | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (in NOK 000) | \n2025 | \n2024 | \n2025 | \n2024 | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Norway | \n10 091 | \n10 241 | \n2 297 | \n3 161 | \n3 031 | \n10 306 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| France | \n0 | \n0 | \n0 | \n2 | \n0 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finland | \n0 | \n0 | \n35 | \n48 | \n0 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Taiwan | \n0 | \n0 | \n0 | \n2 | \n0 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| The Philippines | \n0 | \n0 | \n4 243 | \n6 338 | \n0 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| China | \n0 | \n0 | \n2 109 | \n8 | \n0 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total | \n10 091 | \n10 241 | \n8 683 | \n9 559 | \n3 031 | \n10 306 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
All patents and most of the economic IP (intellectual property) is owned by parent company based in Norway. A sales office has been
\n
established in China, with a parent holding company in Hong Kong.
\n
\n\n\n\n\n\n\n\n\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:DisclosureOfEntitysReportableSegmentsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag179": {
"value": "\n\n
\n\n\n| Geographical distribution | \nRevenue | \n | \n\n\n\n\n\n\n
\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n
\n\n| America | \n8 875 | \n4 982 | \n\n\n\n\n\n\n
\n\n| Asia | \n10 787 | \n4 410 | \n\n\n\n\n\n\n
\n\n| Europe | \n822 | \n232 | \n\n\n\n\n\n\n
\n\n| Total | \n20 484 | \n9 624 | \n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n
\n
\n\n\n\n\n
\n\n
\n\n\n| Geographical distribution | \nRight-of-use assets | \nMachinery & equipment | \nDevelopment costs | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (in NOK 000) | \n2025 | \n2024 | \n2025 | \n2024 | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Norway | \n10 091 | \n10 241 | \n2 297 | \n3 161 | \n3 031 | \n10 306 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| France | \n0 | \n0 | \n0 | \n2 | \n0 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finland | \n0 | \n0 | \n35 | \n48 | \n0 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Taiwan | \n0 | \n0 | \n0 | \n2 | \n0 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| The Philippines | \n0 | \n0 | \n4 243 | \n6 338 | \n0 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| China | \n0 | \n0 | \n2 109 | \n8 | \n0 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total | \n10 091 | \n10 241 | \n8 683 | \n9 559 | \n3 031 | \n10 306 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\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\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag368": {
"value": "\n
\n\n
\n
\n
\n
5 Other income/expenses
\n
\n
5.1 Specification of Cost of goods sold
\n
\n
\n\n\n| (in NOK 000) | \nNote | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Wafer and assembly production cost, outsourced | \n | \n2 693 | \n2 097 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Customer customisations, employee expense | \n5.3 | \n295 | \n19 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Final testing, employee expense | \n5.3 | \n403 | \n67 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation of final testing equipment | \n8 | \n113 | \n25 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Cost of goods | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| sold | \n | \n3 504 | \n2 208 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
5.2 Specification of operating expenses by nature
\n
\n
\n\n\n| (in NOK 000) | \nNote | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Employee benefits expense1) | \n5.3 | \n92 702 | \n70 401 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation and amortisation | \n | \n10 628 | \n10 489 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other operating expenses | \n | \n32 787 | \n28 720 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total operating expenses | \n | \n136 117 | \n109 610 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
1) 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\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n
\n
\n
\n
\n
\n
5.3 Employee benefits expense
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Included in Research and development expenses: | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Wages and salaries | \n12 537 | \n10 388 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Consultants engaged on long-term contracts | \n10 664 | \n9 214 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Social security costs | \n2 220 | \n1 979 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Pension costs | \n651 | \n514 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other benefits and social costs | \n451 | \n645 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Share based compensation costs | \n5 083 | \n2 154 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Grants | \n-527 | \n-323 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Included 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
\n\n| Wages and salaries | \n3 744 | \n2 572 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Consultants engaged on long-term contracts | \n8 492 | \n7 834 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Social security costs | \n663 | \n490 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Pension costs | \n194 | \n127 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other benefits and social costs | \n135 | \n160 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Share based compensation costs | \n2 514 | \n2 115 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Included in Operational / supply chain expenses: | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Wages and salaries | \n8 176 | \n5 679 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Consultants engaged on long-term contracts | \n5 125 | \n8 054 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Social security costs | \n1 395 | \n1 082 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Pension costs | \n409 | \n281 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other benefits and social costs | \n283 | \n353 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Share based compensation costs | \n3 887 | \n1 460 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Internal assembly and testing (COGS) | \n-698 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Included 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| Wages and salaries | \n15 316 | \n12 571 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Consultants engaged on long-term contract | \n1 075 | \n287 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Social security costs | \n2 712 | \n2 394 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Pension costs | \n795 | \n622 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other benefits and social costs | \n551 | \n781 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Share based compensation costs | \n6 855 | \n-1 032 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total employee benefits expense | \n92 702 | \n70 401 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Average number of man-years, employees | \n27 | \n27 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Average number of man-years, total | \n46 | \n45 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
Bonus program
\n
All employees are included in a cash bonus program with identical bonus triggers for all employees except the CEO, who has additional
\n
triggers related to capital raise and exit, and some modifications implemented for the sales employees. The bonus is calculated based
\n
on fixed salary, with a maximum of 80% for the CEO, 40% for the other members of the Executive Management Team, 20-30% for
\n
sales employees, 20% for department managers, and 10% for other employees. The bonus costs are included in \u201cWages and salaries\u201d
\n
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\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
Pensions
\n
poLight ASA (the Group\u2019s Norwegian company) is subject to the requirements of the Mandatory Occupational Pensions Act, and the
\n
company\u2019s pension scheme follows the requirements of the Act. As the subsidiaries in France, Finland and China are not subject to
\n
mandatory pension schemes in addition to the national insurance schemes, no pension scheme has been established there.
\n
The pension scheme in Norway is based on a defined contribution plan, and the premium is calculated on the basis of the employees\u2019
\n
income. In 2024 and 2025, 7% of the salary between 0G (1G=NOK 130,160 per May 1, 2025) and 7.1G, and 15% of the salary between
\n
7.1G and 12G was calculated. The period\u2019s contributions are recognised in the Consolidated statement of income.
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Defined contribution plan | \n1 928 | \n1 467 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Employer\u2019s national insurance contribution | \n272 | \n207 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total pension cost | \n2 200 | \n1 674 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
Share option plans (equity-settled)
\n
Share options in the parent company are granted to all employees. The exercise price of the share options is equal to, or higher than,
\n
the market price of the underlying shares on the date of grant.
\n
The share options are vested over 3 years, and exercisable with 1/12 each quarter over 3 years, starting at the date of grant. According
\n
to the share option agreement, the company is liable for corporate taxes including National Insurance, with a limitation of 20%. The
\n
program is conditional on the employee\u2019s continued employment in poLight.
\n
The share options can be exercised up to two years after the three-year vesting period. Exercisable share options may as a general
\n
rule, be exercised and shares issued once per quarter each following the release of poLight ASA\u2019s quarterly reports.
\n
\n
Share option expense
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Share based compensation costs | \n15 223 | \n10 008 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Employer\u2019s national insurance contribution | \n3 116 | \n-5 312 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Recognised as employee benefits expense | \n18 339 | \n4 697 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
The share options expense includes accrued employer\u2019s national insurance contribution expenses that are calculated based on the
\n
number of vested share options and a proportion of share options under vesting multiplied by the difference between market price
\n
and exercise price at the end for the period.
\n
The board is authorised to issue additional shares - in share option scheme - up to total par value of NOK 773,459 (19,336,471 shares
\n
at 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\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
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Outstanding share options at December 31, 2025
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\n\n\n | \n | \n | \n | \n | \n | \n | \nRemaining | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n | \nOutstanding | \nExercisable | \nRemaining | \nTotal | \nestimated | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \nExercise price | \nno. of share | \nno. of share | \ncontractual | \nexpensed (in | \nexpense (in | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Year granted | \nNote | \n(NOK) | \noptions | \noptions | \nlife (years) | \nNOK 000) | \nNOK 000) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2019 | \n1 | \n3.78 | \n157 215 | \n157 215 | \n1.75 | \n574 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2023 | \n2 | \n12.15 | \n0 | \n0 | \n0.00 | \n6 879 | \n668 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2023 | \n2 | \n12.82 | \n0 | \n0 | \n0.00 | \n2 087 | \n3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2024 | \n2 | \n3.20 | \n4 935 330 | \n2 423 073 | \n3.46 | \n6 013 | \n1 139 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2024 | \n | \n4.33 | \n533 334 | \n212 497 | \n3.72 | \n992 | \n330 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2025 | \n | \n5.11 | \n250 000 | \n62 500 | \n4.01 | \n369 | \n203 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2025 | \n | \n3.95 | \n9 618 334 | \n1 593 324 | \n4.45 | \n9 363 | \n11 765 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n | \n15 494 213 | \n4 448 609 | \n4.07 | \n26 276 | \n14 107 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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1) 157,215 share options issued in 2019 originally expired in June 2024 was extended by board resolution in June 2024 and
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April 2025 with totally 39 months.
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2) The board offered, after board resolution in June 2024, a replacement share option agreement (after cancellation) to all
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share option holders. 5,304,490 share options were cancelled and replaced with a new share option agreement at strike
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3.20. The fair value of the new share options was measured to NOK 7.5 million net after reduction of the fair value of the
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cancelled share options.
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The terms of the stock options imply that exercise windows for exercising stock options shall be opened, normally each quarter after
\n
the presentation of quarterly reports. Throughout the term of these options, the Board has on several occasions not been able to
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open such exercise windows. The Board have mandate to extend the term of previously granted options for a period equivalent to
\n
the period of exercise windows that have not been opened, or subject to lock-up arrangements.
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The weighted average remaining contractual life for the share options outstanding as at 31 December 2025 was 4.07 years (2024:
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4.38 years).
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Reconciliation of outstanding share options
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\n\n\n | \n2025 | \n | \n2024 | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nNumber of | \nWAEP | \nNumber of | \nWAEP | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nshare options | \n | \nshare options | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Outstanding at 1 January | \n6 271 705 | \n3.3 | \n5 579 066 | \n11.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Granted during the year | \n10 115 000 | \n4.0 | \n6 129 490 | \n3.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Terminated during the year | \n-556 664 | \n3.5 | \n-113 750 | \n11.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cancelled during the year | \n0 | \n | \n-5 304 490 | \n11.7 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Exercised during the year | \n-335 828 | \n3.3 | \n-1 250 | \n3.2 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Expired during the year | \n0 | \n | \n-17 361 | \n22.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Outstanding at 31 December | \n15 494 213 | \n3.7 | \n6 271 705 | \n3.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| In % of outstanding shares | \n7.28 % | \n | \n4.84 % | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Exercisable at 31 December | \n4 448 609 | \n3.6 | \n1 130 444 | \n3.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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The weighted average exercise price (WAEP) for the share options exercised during 2025 was NOK 3.3 (2024: NOK 3.2), and the
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average market price at the exercise dates was NOK 6.68 (2024: NOK 3.82).
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The weighted average exercise price for the share options outstanding as at 31 December 2025, was NOK 3.7 (2024: NOK 3.3) with a
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range from NOK 3.20 to NOK 5.11. At the end of the year, the weighted average exercise price was NOK 3.6 (2024: NOK 3.3) on
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exercisable options.
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In 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
\n
immediately vested.
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Share option valuation
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The fair value of the options granted in 2024 has been calculated to NOK 8.8 million excluding social security expenses (2023: NOK
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7.5 million), by using the Black-Scholes option pricing model.
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The basis for the valuation comprises several factors that affect the calculated fair value of granted options. The assumptions used
\n
in the calculation was:
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\n\n\n | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n
\n\n| Price at grant date* | \nNOK 4.13 | \nNOK 3.85 | \n\n\n\n\n\n\n\n\n\n
\n\n| Exercise price* | \nNOK 3.98 | \nNOK 3.30 | \n\n\n\n\n\n\n\n\n\n
\n\n| Maximum1) option life | \n5 years | \n5 years | \n\n\n\n\n\n\n\n\n\n
\n\n| Assumed option life | \n2.63 years | \n2.63 years | \n\n\n\n\n\n\n\n\n\n
\n\n| Risk-free interest rate* | \n3,76 % | \n3.62 % | \n\n\n\n\n\n\n\n\n\n
\n\n| Volatility* | \n86 % | \n85 % | \n\n\n\n\n\n\n\n\n\n
\n\n| Fair value per share option* | \nNOK 2.19 | \nNOK 1.442) | \n\n\n\n\n\n\n\n\n\n
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1) Although the share options expire 5 years from the date of the grant, any vested options are required to be exercised
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no later than the first exercise window after an employee's last day of service with the company.
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2) The low fair value is due to the fact that most of the grants in 2024 were replacements of existing programs, where the
\n
fair value was measured to net after reduction of the fair value of the cancelled share options.
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*) Weighted average parameters at grant of the share options.
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Expected vesting is estimated based on employee turnover, and volatility is deemed based on historic volatility.
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Sensitivity analysis
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The fair value of the share options granted in 2025 of NOK 22.2 million was determined based on an assumption of a volatility of
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86%. At a volatility of 60%, holding other assumptions constants, would have decreased the fair value with NOK 5.4 million over the
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vesting period. A decrease in the assumed lifetime of the share options with 1 year, would have decreased the fair value with NOK
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4.2 million over the vesting period.
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5.4 Research and development expenses
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\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Employee benefits expense (incl. consultants) | \n31 605 | \n24 895 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other operating expenses | \n19 670 | \n9 646 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Government grants | \n-2 205 | \n-2 217 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Capitalized | \n0 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Research and development expenses | \n49 070 | \n32 323 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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Research and development costs that are not eligible for capitalisation have been expensed in the period incurred and are recognised
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as Research and development expenses.
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R&D costs that are expensed, includes R&D management, patents, improvements of the TLens (see Note 14 Government grants),
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feasibility study of new concepts, software license and costs related to integration of TLens in new customer applications/products.
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None of the activities were eligible for capitalisation during 2025 and 2024 since these have so far been in an early phase from an
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R&D point of view.
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5.5 Sales and marketing expenses
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\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Employee benefits expense (incl. consultants) | \n15 742 | \n13 298 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other operating expenses | \n4 350 | \n3 007 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Sales and marketing expenses | \n20 092 | \n16 305 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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5.6 Operational/supply chain expenses
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\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Employee benefits expense (incl. consultants) | \n19 276 | \n16 909 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other operating expenses | \n9 197 | \n6 633 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Operational / supply chain expenses | \n28 472 | \n23 542 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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5.7 Administrative expenses
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\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Employee benefits expense | \n27 304 | \n15 622 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other operating expenses | \n551 | \n11 328 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Administrative expenses | \n27 855 | \n26 950 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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5.8 Auditor's remuneration
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\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Statutory audit | \n1 182 | \n985 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other attestation services | \n485 | \n279 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Tax consultancy | \n132 | \n38 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other services that are not part of the audit | \n102 | \n128 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Auditor's remuneration(excluding VAT) | \n1 900 | \n1 430 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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5.9 Financial items
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\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance income | \n0 | \n211 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest income | \n10 510 | \n7 431 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance income | \n10 510 | \n7 642 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net foreign exchange losses | \n424 | \n404 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest expense on debts and borrowings | \n4 | \n4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest expense on lease liabilities | \n961 | \n252 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance expenses | \n26 | \n25 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance cost | \n1 414 | \n685 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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"dimensions": {
"concept": "ifrs-full:DisclosureOfExpensesExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag374": {
"value": "\n
\n\n
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5 Other income/expenses
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5.1 Specification of Cost of goods sold
\n
\n
\n\n\n| (in NOK 000) | \nNote | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Wafer and assembly production cost, outsourced | \n | \n2 693 | \n2 097 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Customer customisations, employee expense | \n5.3 | \n295 | \n19 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Final testing, employee expense | \n5.3 | \n403 | \n67 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation of final testing equipment | \n8 | \n113 | \n25 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Cost of goods | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| sold | \n | \n3 504 | \n2 208 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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5.2 Specification of operating expenses by nature
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\n\n\n| (in NOK 000) | \nNote | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Employee benefits expense1) | \n5.3 | \n92 702 | \n70 401 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation and amortisation | \n | \n10 628 | \n10 489 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other operating expenses | \n | \n32 787 | \n28 720 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total operating expenses | \n | \n136 117 | \n109 610 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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1) Including consultants engaged on long-term contracts
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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5.3 Employee benefits expense
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\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Included in Research and development expenses: | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Wages and salaries | \n12 537 | \n10 388 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Consultants engaged on long-term contracts | \n10 664 | \n9 214 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Social security costs | \n2 220 | \n1 979 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Pension costs | \n651 | \n514 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other benefits and social costs | \n451 | \n645 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Share based compensation costs | \n5 083 | \n2 154 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Grants | \n-527 | \n-323 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Included 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
\n\n| Wages and salaries | \n3 744 | \n2 572 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Consultants engaged on long-term contracts | \n8 492 | \n7 834 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Social security costs | \n663 | \n490 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Pension costs | \n194 | \n127 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other benefits and social costs | \n135 | \n160 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Share based compensation costs | \n2 514 | \n2 115 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Included in Operational / supply chain expenses: | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Wages and salaries | \n8 176 | \n5 679 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Consultants engaged on long-term contracts | \n5 125 | \n8 054 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Social security costs | \n1 395 | \n1 082 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Pension costs | \n409 | \n281 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other benefits and social costs | \n283 | \n353 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Share based compensation costs | \n3 887 | \n1 460 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Internal assembly and testing (COGS) | \n-698 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Included 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| Wages and salaries | \n15 316 | \n12 571 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Consultants engaged on long-term contract | \n1 075 | \n287 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Social security costs | \n2 712 | \n2 394 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Pension costs | \n795 | \n622 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other benefits and social costs | \n551 | \n781 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Share based compensation costs | \n6 855 | \n-1 032 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total employee benefits expense | \n92 702 | \n70 401 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Average number of man-years, employees | \n27 | \n27 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Average number of man-years, total | \n46 | \n45 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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Bonus program
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All employees are included in a cash bonus program with identical bonus triggers for all employees except the CEO, who has additional
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triggers related to capital raise and exit, and some modifications implemented for the sales employees. The bonus is calculated based
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on fixed salary, with a maximum of 80% for the CEO, 40% for the other members of the Executive Management Team, 20-30% for
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sales employees, 20% for department managers, and 10% for other employees. The bonus costs are included in \u201cWages and salaries\u201d
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and \u201cConsultants engaged on long-term contracts\u201d.
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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Pensions
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poLight ASA (the Group\u2019s Norwegian company) is subject to the requirements of the Mandatory Occupational Pensions Act, and the
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company\u2019s pension scheme follows the requirements of the Act. As the subsidiaries in France, Finland and China are not subject to
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mandatory pension schemes in addition to the national insurance schemes, no pension scheme has been established there.
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The pension scheme in Norway is based on a defined contribution plan, and the premium is calculated on the basis of the employees\u2019
\n
income. In 2024 and 2025, 7% of the salary between 0G (1G=NOK 130,160 per May 1, 2025) and 7.1G, and 15% of the salary between
\n
7.1G and 12G was calculated. The period\u2019s contributions are recognised in the Consolidated statement of income.
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\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Defined contribution plan | \n1 928 | \n1 467 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Employer\u2019s national insurance contribution | \n272 | \n207 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total pension cost | \n2 200 | \n1 674 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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Share option plans (equity-settled)
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Share options in the parent company are granted to all employees. The exercise price of the share options is equal to, or higher than,
\n
the market price of the underlying shares on the date of grant.
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The share options are vested over 3 years, and exercisable with 1/12 each quarter over 3 years, starting at the date of grant. According
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to the share option agreement, the company is liable for corporate taxes including National Insurance, with a limitation of 20%. The
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program is conditional on the employee\u2019s continued employment in poLight.
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The share options can be exercised up to two years after the three-year vesting period. Exercisable share options may as a general
\n
rule, be exercised and shares issued once per quarter each following the release of poLight ASA\u2019s quarterly reports.
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Share option expense
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\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Share based compensation costs | \n15 223 | \n10 008 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Employer\u2019s national insurance contribution | \n3 116 | \n-5 312 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Recognised as employee benefits expense | \n18 339 | \n4 697 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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The share options expense includes accrued employer\u2019s national insurance contribution expenses that are calculated based on the
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number of vested share options and a proportion of share options under vesting multiplied by the difference between market price
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and exercise price at the end for the period.
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The board is authorised to issue additional shares - in share option scheme - up to total par value of NOK 773,459 (19,336,471 shares
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at par value of NOK 0.04).
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Outstanding share options at December 31, 2025
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\n\n\n | \n | \n | \n | \n | \n | \n | \nRemaining | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n | \nOutstanding | \nExercisable | \nRemaining | \nTotal | \nestimated | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \nExercise price | \nno. of share | \nno. of share | \ncontractual | \nexpensed (in | \nexpense (in | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Year granted | \nNote | \n(NOK) | \noptions | \noptions | \nlife (years) | \nNOK 000) | \nNOK 000) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2019 | \n1 | \n3.78 | \n157 215 | \n157 215 | \n1.75 | \n574 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2023 | \n2 | \n12.15 | \n0 | \n0 | \n0.00 | \n6 879 | \n668 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2023 | \n2 | \n12.82 | \n0 | \n0 | \n0.00 | \n2 087 | \n3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2024 | \n2 | \n3.20 | \n4 935 330 | \n2 423 073 | \n3.46 | \n6 013 | \n1 139 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2024 | \n | \n4.33 | \n533 334 | \n212 497 | \n3.72 | \n992 | \n330 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2025 | \n | \n5.11 | \n250 000 | \n62 500 | \n4.01 | \n369 | \n203 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2025 | \n | \n3.95 | \n9 618 334 | \n1 593 324 | \n4.45 | \n9 363 | \n11 765 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n | \n15 494 213 | \n4 448 609 | \n4.07 | \n26 276 | \n14 107 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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1) 157,215 share options issued in 2019 originally expired in June 2024 was extended by board resolution in June 2024 and
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April 2025 with totally 39 months.
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2) The board offered, after board resolution in June 2024, a replacement share option agreement (after cancellation) to all
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share option holders. 5,304,490 share options were cancelled and replaced with a new share option agreement at strike
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3.20. The fair value of the new share options was measured to NOK 7.5 million net after reduction of the fair value of the
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cancelled share options.
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The terms of the stock options imply that exercise windows for exercising stock options shall be opened, normally each quarter after
\n
the presentation of quarterly reports. Throughout the term of these options, the Board has on several occasions not been able to
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open such exercise windows. The Board have mandate to extend the term of previously granted options for a period equivalent to
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the period of exercise windows that have not been opened, or subject to lock-up arrangements.
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The weighted average remaining contractual life for the share options outstanding as at 31 December 2025 was 4.07 years (2024:
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4.38 years).
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Reconciliation of outstanding share options
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\n\n\n | \n2025 | \n | \n2024 | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nNumber of | \nWAEP | \nNumber of | \nWAEP | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nshare options | \n | \nshare options | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Outstanding at 1 January | \n6 271 705 | \n3.3 | \n5 579 066 | \n11.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Granted during the year | \n10 115 000 | \n4.0 | \n6 129 490 | \n3.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Terminated during the year | \n-556 664 | \n3.5 | \n-113 750 | \n11.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cancelled during the year | \n0 | \n | \n-5 304 490 | \n11.7 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Exercised during the year | \n-335 828 | \n3.3 | \n-1 250 | \n3.2 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Expired during the year | \n0 | \n | \n-17 361 | \n22.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Outstanding at 31 December | \n15 494 213 | \n3.7 | \n6 271 705 | \n3.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| In % of outstanding shares | \n7.28 % | \n | \n4.84 % | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Exercisable at 31 December | \n4 448 609 | \n3.6 | \n1 130 444 | \n3.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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The weighted average exercise price (WAEP) for the share options exercised during 2025 was NOK 3.3 (2024: NOK 3.2), and the
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average market price at the exercise dates was NOK 6.68 (2024: NOK 3.82).
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The weighted average exercise price for the share options outstanding as at 31 December 2025, was NOK 3.7 (2024: NOK 3.3) with a
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range from NOK 3.20 to NOK 5.11. At the end of the year, the weighted average exercise price was NOK 3.6 (2024: NOK 3.3) on
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exercisable options.
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In 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
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immediately vested.
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Share option valuation
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The fair value of the options granted in 2024 has been calculated to NOK 8.8 million excluding social security expenses (2023: NOK
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7.5 million), by using the Black-Scholes option pricing model.
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The basis for the valuation comprises several factors that affect the calculated fair value of granted options. The assumptions used
\n
in the calculation was:
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\n\n\n | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n
\n\n| Price at grant date* | \nNOK 4.13 | \nNOK 3.85 | \n\n\n\n\n\n\n\n\n\n
\n\n| Exercise price* | \nNOK 3.98 | \nNOK 3.30 | \n\n\n\n\n\n\n\n\n\n
\n\n| Maximum1) option life | \n5 years | \n5 years | \n\n\n\n\n\n\n\n\n\n
\n\n| Assumed option life | \n2.63 years | \n2.63 years | \n\n\n\n\n\n\n\n\n\n
\n\n| Risk-free interest rate* | \n3,76 % | \n3.62 % | \n\n\n\n\n\n\n\n\n\n
\n\n| Volatility* | \n86 % | \n85 % | \n\n\n\n\n\n\n\n\n\n
\n\n| Fair value per share option* | \nNOK 2.19 | \nNOK 1.442) | \n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n
\n
\n
1) Although the share options expire 5 years from the date of the grant, any vested options are required to be exercised
\n
no later than the first exercise window after an employee's last day of service with the company.
\n
2) The low fair value is due to the fact that most of the grants in 2024 were replacements of existing programs, where the
\n
fair value was measured to net after reduction of the fair value of the cancelled share options.
\n
*) Weighted average parameters at grant of the share options.
\n
\n
Expected vesting is estimated based on employee turnover, and volatility is deemed based on historic volatility.
\n
Sensitivity analysis
\n
The fair value of the share options granted in 2025 of NOK 22.2 million was determined based on an assumption of a volatility of
\n
86%. At a volatility of 60%, holding other assumptions constants, would have decreased the fair value with NOK 5.4 million over the
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vesting period. A decrease in the assumed lifetime of the share options with 1 year, would have decreased the fair value with NOK
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4.2 million over the vesting period.
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5.4 Research and development expenses
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\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Employee benefits expense (incl. consultants) | \n31 605 | \n24 895 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other operating expenses | \n19 670 | \n9 646 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Government grants | \n-2 205 | \n-2 217 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Capitalized | \n0 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Research and development expenses | \n49 070 | \n32 323 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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\n
Research and development costs that are not eligible for capitalisation have been expensed in the period incurred and are recognised
\n
as Research and development expenses.
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R&D costs that are expensed, includes R&D management, patents, improvements of the TLens (see Note 14 Government grants),
\n
feasibility study of new concepts, software license and costs related to integration of TLens in new customer applications/products.
\n
None of the activities were eligible for capitalisation during 2025 and 2024 since these have so far been in an early phase from an
\n
R&D point of view.
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\n\n\n\n\n\n\n
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5.5 Sales and marketing expenses
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\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Employee benefits expense (incl. consultants) | \n15 742 | \n13 298 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other operating expenses | \n4 350 | \n3 007 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Sales and marketing expenses | \n20 092 | \n16 305 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
5.6 Operational/supply chain expenses
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\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Employee benefits expense (incl. consultants) | \n19 276 | \n16 909 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other operating expenses | \n9 197 | \n6 633 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Operational / supply chain expenses | \n28 472 | \n23 542 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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5.7 Administrative expenses
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\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Employee benefits expense | \n27 304 | \n15 622 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other operating expenses | \n551 | \n11 328 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Administrative expenses | \n27 855 | \n26 950 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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5.8 Auditor's remuneration
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\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Statutory audit | \n1 182 | \n985 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other attestation services | \n485 | \n279 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Tax consultancy | \n132 | \n38 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other services that are not part of the audit | \n102 | \n128 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Auditor's remuneration(excluding VAT) | \n1 900 | \n1 430 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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5.9 Financial items
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\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance income | \n0 | \n211 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest income | \n10 510 | \n7 431 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance income | \n10 510 | \n7 642 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net foreign exchange losses | \n424 | \n404 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest expense on debts and borrowings | \n4 | \n4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest expense on lease liabilities | \n961 | \n252 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance expenses | \n26 | \n25 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance cost | \n1 414 | \n685 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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\n\n\n\n\n\n\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": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag393": {
"value": "\n
\n5 Other income/expenses
\n\n
5.1 Specification of Cost of goods sold
\n
\n
\n\n\n| (in NOK 000) | \nNote | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Wafer and assembly production cost, outsourced | \n | \n2 693 | \n2 097 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Customer customisations, employee expense | \n5.3 | \n295 | \n19 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Final testing, employee expense | \n5.3 | \n403 | \n67 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation of final testing equipment | \n8 | \n113 | \n25 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Cost of goods | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| sold | \n | \n3 504 | \n2 208 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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5.2 Specification of operating expenses by nature
\n\n
\n\n\n| (in NOK 000) | \nNote | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Employee benefits expense1) | \n5.3 | \n92 702 | \n70 401 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation and amortisation | \n | \n10 628 | \n10 489 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other operating expenses | \n | \n32 787 | \n28 720 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total operating expenses | \n | \n136 117 | \n109 610 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n1) Including consultants engaged on long-term contracts
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5.3 Employee benefits expense
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\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Included in Research and development expenses: | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Wages and salaries | \n12 537 | \n10 388 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Consultants engaged on long-term contracts | \n10 664 | \n9 214 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Social security costs | \n2 220 | \n1 979 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Pension costs | \n651 | \n514 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other benefits and social costs | \n451 | \n645 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Share based compensation costs | \n5 083 | \n2 154 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Grants | \n-527 | \n-323 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Included 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
\n\n| Wages and salaries | \n3 744 | \n2 572 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Consultants engaged on long-term contracts | \n8 492 | \n7 834 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Social security costs | \n663 | \n490 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Pension costs | \n194 | \n127 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other benefits and social costs | \n135 | \n160 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Share based compensation costs | \n2 514 | \n2 115 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Included in Operational / supply chain expenses: | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Wages and salaries | \n8 176 | \n5 679 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Consultants engaged on long-term contracts | \n5 125 | \n8 054 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Social security costs | \n1 395 | \n1 082 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Pension costs | \n409 | \n281 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other benefits and social costs | \n283 | \n353 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Share based compensation costs | \n3 887 | \n1 460 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Internal assembly and testing (COGS) | \n-698 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Included 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| Wages and salaries | \n15 316 | \n12 571 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Consultants engaged on long-term contract | \n1 075 | \n287 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Social security costs | \n2 712 | \n2 394 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Pension costs | \n795 | \n622 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other benefits and social costs | \n551 | \n781 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Share based compensation costs | \n6 855 | \n-1 032 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total employee benefits expense | \n92 702 | \n70 401 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Average number of man-years, employees | \n27 | \n27 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Average number of man-years, total | \n46 | \n45 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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Bonus program
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All employees are included in a cash bonus program with identical bonus triggers for all employees except the CEO, who has additional
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triggers related to capital raise and exit, and some modifications implemented for the sales employees. The bonus is calculated based
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on fixed salary, with a maximum of 80% for the CEO, 40% for the other members of the Executive Management Team, 20-30% for
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sales employees, 20% for department managers, and 10% for other employees. The bonus costs are included in \u201cWages and salaries\u201d
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and \u201cConsultants engaged on long-term contracts\u201d.
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Pensions
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poLight ASA (the Group\u2019s Norwegian company) is subject to the requirements of the Mandatory Occupational Pensions Act, and the
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company\u2019s pension scheme follows the requirements of the Act. As the subsidiaries in France, Finland and China are not subject to
\n
mandatory pension schemes in addition to the national insurance schemes, no pension scheme has been established there.
\n
The pension scheme in Norway is based on a defined contribution plan, and the premium is calculated on the basis of the employees\u2019
\n
income. In 2024 and 2025, 7% of the salary between 0G (1G=NOK 130,160 per May 1, 2025) and 7.1G, and 15% of the salary between
\n
7.1G and 12G was calculated. The period\u2019s contributions are recognised in the Consolidated statement of income.
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Defined contribution plan | \n1 928 | \n1 467 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Employer\u2019s national insurance contribution | \n272 | \n207 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total pension cost | \n2 200 | \n1 674 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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Share option plans (equity-settled)
\n
Share options in the parent company are granted to all employees. The exercise price of the share options is equal to, or higher than,
\n
the market price of the underlying shares on the date of grant.
\n
The share options are vested over 3 years, and exercisable with 1/12 each quarter over 3 years, starting at the date of grant. According
\n
to the share option agreement, the company is liable for corporate taxes including National Insurance, with a limitation of 20%. The
\n
program is conditional on the employee\u2019s continued employment in poLight.
\n
The share options can be exercised up to two years after the three-year vesting period. Exercisable share options may as a general
\n
rule, be exercised and shares issued once per quarter each following the release of poLight ASA\u2019s quarterly reports.
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Share option expense
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Share based compensation costs | \n15 223 | \n10 008 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Employer\u2019s national insurance contribution | \n3 116 | \n-5 312 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Recognised as employee benefits expense | \n18 339 | \n4 697 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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\n
The share options expense includes accrued employer\u2019s national insurance contribution expenses that are calculated based on the
\n
number of vested share options and a proportion of share options under vesting multiplied by the difference between market price
\n
and exercise price at the end for the period.
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The board is authorised to issue additional shares - in share option scheme - up to total par value of NOK 773,459 (19,336,471 shares
\n
at par value of NOK 0.04).
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Outstanding share options at December 31, 2025
\n
\n
\n\n\n | \n | \n | \n | \n | \n | \n | \nRemaining | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n | \nOutstanding | \nExercisable | \nRemaining | \nTotal | \nestimated | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \nExercise price | \nno. of share | \nno. of share | \ncontractual | \nexpensed (in | \nexpense (in | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Year granted | \nNote | \n(NOK) | \noptions | \noptions | \nlife (years) | \nNOK 000) | \nNOK 000) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2019 | \n1 | \n3.78 | \n157 215 | \n157 215 | \n1.75 | \n574 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2023 | \n2 | \n12.15 | \n0 | \n0 | \n0.00 | \n6 879 | \n668 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2023 | \n2 | \n12.82 | \n0 | \n0 | \n0.00 | \n2 087 | \n3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2024 | \n2 | \n3.20 | \n4 935 330 | \n2 423 073 | \n3.46 | \n6 013 | \n1 139 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2024 | \n | \n4.33 | \n533 334 | \n212 497 | \n3.72 | \n992 | \n330 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2025 | \n | \n5.11 | \n250 000 | \n62 500 | \n4.01 | \n369 | \n203 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2025 | \n | \n3.95 | \n9 618 334 | \n1 593 324 | \n4.45 | \n9 363 | \n11 765 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n | \n15 494 213 | \n4 448 609 | \n4.07 | \n26 276 | \n14 107 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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\n
1) 157,215 share options issued in 2019 originally expired in June 2024 was extended by board resolution in June 2024 and
\n
April 2025 with totally 39 months.
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2) The board offered, after board resolution in June 2024, a replacement share option agreement (after cancellation) to all
\n
share option holders. 5,304,490 share options were cancelled and replaced with a new share option agreement at strike
\n
3.20. The fair value of the new share options was measured to NOK 7.5 million net after reduction of the fair value of the
\n
cancelled share options.
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The terms of the stock options imply that exercise windows for exercising stock options shall be opened, normally each quarter after
\n
the presentation of quarterly reports. Throughout the term of these options, the Board has on several occasions not been able to
\n
open such exercise windows. The Board have mandate to extend the term of previously granted options for a period equivalent to
\n
the period of exercise windows that have not been opened, or subject to lock-up arrangements.
\n
The weighted average remaining contractual life for the share options outstanding as at 31 December 2025 was 4.07 years (2024:
\n
4.38 years).
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Reconciliation of outstanding share options
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\n
\n\n\n | \n2025 | \n | \n2024 | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nNumber of | \nWAEP | \nNumber of | \nWAEP | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nshare options | \n | \nshare options | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Outstanding at 1 January | \n6 271 705 | \n3.3 | \n5 579 066 | \n11.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Granted during the year | \n10 115 000 | \n4.0 | \n6 129 490 | \n3.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Terminated during the year | \n-556 664 | \n3.5 | \n-113 750 | \n11.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cancelled during the year | \n0 | \n | \n-5 304 490 | \n11.7 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Exercised during the year | \n-335 828 | \n3.3 | \n-1 250 | \n3.2 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Expired during the year | \n0 | \n | \n-17 361 | \n22.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Outstanding at 31 December | \n15 494 213 | \n3.7 | \n6 271 705 | \n3.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| In % of outstanding shares | \n7.28 % | \n | \n4.84 % | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Exercisable at 31 December | \n4 448 609 | \n3.6 | \n1 130 444 | \n3.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
The weighted average exercise price (WAEP) for the share options exercised during 2025 was NOK 3.3 (2024: NOK 3.2), and the
\n
average market price at the exercise dates was NOK 6.68 (2024: NOK 3.82).
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The weighted average exercise price for the share options outstanding as at 31 December 2025, was NOK 3.7 (2024: NOK 3.3) with a
\n
range from NOK 3.20 to NOK 5.11. At the end of the year, the weighted average exercise price was NOK 3.6 (2024: NOK 3.3) on
\n
exercisable options.
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In 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
\n
immediately vested.
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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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Share option valuation
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The fair value of the options granted in 2024 has been calculated to NOK 8.8 million excluding social security expenses (2023: NOK
\n
7.5 million), by using the Black-Scholes option pricing model.
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The basis for the valuation comprises several factors that affect the calculated fair value of granted options. The assumptions used
\n
in the calculation was:
\n
\n
\n\n\n | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n
\n\n| Price at grant date* | \nNOK 4.13 | \nNOK 3.85 | \n\n\n\n\n\n\n\n\n\n
\n\n| Exercise price* | \nNOK 3.98 | \nNOK 3.30 | \n\n\n\n\n\n\n\n\n\n
\n\n| Maximum1) option life | \n5 years | \n5 years | \n\n\n\n\n\n\n\n\n\n
\n\n| Assumed option life | \n2.63 years | \n2.63 years | \n\n\n\n\n\n\n\n\n\n
\n\n| Risk-free interest rate* | \n3,76 % | \n3.62 % | \n\n\n\n\n\n\n\n\n\n
\n\n| Volatility* | \n86 % | \n85 % | \n\n\n\n\n\n\n\n\n\n
\n\n| Fair value per share option* | \nNOK 2.19 | \nNOK 1.442) | \n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n
\n
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1) Although the share options expire 5 years from the date of the grant, any vested options are required to be exercised
\n
no later than the first exercise window after an employee's last day of service with the company.
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2) The low fair value is due to the fact that most of the grants in 2024 were replacements of existing programs, where the
\n
fair value was measured to net after reduction of the fair value of the cancelled share options.
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*) Weighted average parameters at grant of the share options.
\n
\n
Expected vesting is estimated based on employee turnover, and volatility is deemed based on historic volatility.
\n
Sensitivity analysis
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The fair value of the share options granted in 2025 of NOK 22.2 million was determined based on an assumption of a volatility of
\n
86%. At a volatility of 60%, holding other assumptions constants, would have decreased the fair value with NOK 5.4 million over the
\n
vesting period. A decrease in the assumed lifetime of the share options with 1 year, would have decreased the fair value with NOK
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4.2 million over the vesting period.
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\n\n\n\n\n\n\n
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5.4 Research and development expenses
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\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Employee benefits expense (incl. consultants) | \n31 605 | \n24 895 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other operating expenses | \n19 670 | \n9 646 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Government grants | \n-2 205 | \n-2 217 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Capitalized | \n0 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Research and development expenses | \n49 070 | \n32 323 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
Research and development costs that are not eligible for capitalisation have been expensed in the period incurred and are recognised
\n
as Research and development expenses.
\n
R&D costs that are expensed, includes R&D management, patents, improvements of the TLens (see Note 14 Government grants),
\n
feasibility study of new concepts, software license and costs related to integration of TLens in new customer applications/products.
\n
None of the activities were eligible for capitalisation during 2025 and 2024 since these have so far been in an early phase from an
\n
R&D point of view.
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\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n5.5 Sales and marketing expenses
\n\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Employee benefits expense (incl. consultants) | \n15 742 | \n13 298 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other operating expenses | \n4 350 | \n3 007 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Sales and marketing expenses | \n20 092 | \n16 305 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
5.6 Operational/supply chain expenses
\n\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Employee benefits expense (incl. consultants) | \n19 276 | \n16 909 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other operating expenses | \n9 197 | \n6 633 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Operational / supply chain expenses | \n28 472 | \n23 542 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
5.7 Administrative expenses
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Employee benefits expense | \n27 304 | \n15 622 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other operating expenses | \n551 | \n11 328 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Administrative expenses | \n27 855 | \n26 950 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
5.8 Auditor's remuneration
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Statutory audit | \n1 182 | \n985 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other attestation services | \n485 | \n279 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Tax consultancy | \n132 | \n38 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other services that are not part of the audit | \n102 | \n128 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Auditor's remuneration(excluding VAT) | \n1 900 | \n1 430 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\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": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag345": {
"value": "\n5.1 Specification of Cost of goods sold
\n\n
\n\n\n| (in NOK 000) | \nNote | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Wafer and assembly production cost, outsourced | \n | \n2 693 | \n2 097 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Customer customisations, employee expense | \n5.3 | \n295 | \n19 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Final testing, employee expense | \n5.3 | \n403 | \n67 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation of final testing equipment | \n8 | \n113 | \n25 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Cost of goods | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| sold | \n | \n3 504 | \n2 208 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n12 Inventories
\n\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Components; mainly wafers (at cost) | \n78 267 | \n77 472 | \n\n\n\n\n\n
\n\n| Finished goods; lenses and driver ASICs (at cost) | \n5 309 | \n6 312 | \n\n\n\n\n\n
\n\n| Obsolescence provision | \n-30 061 | \n-21 353 | \n\n\n\n\n\n
\n\n| Total inventories at the lower of cost and net realisable value | \n53 515 | \n62 431 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\nDuring 2025, NOK 8.7 million (2024: NOK 6.4 million) was recognised as an obsolescence expense for inventories carried at net
\nrealisable value.
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCostOfSalesExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag380": {
"value": "\n
\n\n
5.3 Employee benefits expense
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Included in Research and development expenses: | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Wages and salaries | \n12 537 | \n10 388 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Consultants engaged on long-term contracts | \n10 664 | \n9 214 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Social security costs | \n2 220 | \n1 979 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Pension costs | \n651 | \n514 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other benefits and social costs | \n451 | \n645 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Share based compensation costs | \n5 083 | \n2 154 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Grants | \n-527 | \n-323 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Included 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
\n\n| Wages and salaries | \n3 744 | \n2 572 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Consultants engaged on long-term contracts | \n8 492 | \n7 834 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Social security costs | \n663 | \n490 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Pension costs | \n194 | \n127 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other benefits and social costs | \n135 | \n160 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Share based compensation costs | \n2 514 | \n2 115 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Included in Operational / supply chain expenses: | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Wages and salaries | \n8 176 | \n5 679 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Consultants engaged on long-term contracts | \n5 125 | \n8 054 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Social security costs | \n1 395 | \n1 082 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Pension costs | \n409 | \n281 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other benefits and social costs | \n283 | \n353 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Share based compensation costs | \n3 887 | \n1 460 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Internal assembly and testing (COGS) | \n-698 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Included 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| Wages and salaries | \n15 316 | \n12 571 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Consultants engaged on long-term contract | \n1 075 | \n287 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Social security costs | \n2 712 | \n2 394 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Pension costs | \n795 | \n622 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other benefits and social costs | \n551 | \n781 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Share based compensation costs | \n6 855 | \n-1 032 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total employee benefits expense | \n92 702 | \n70 401 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Average number of man-years, employees | \n27 | \n27 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Average number of man-years, total | \n46 | \n45 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
Bonus program
\n
All employees are included in a cash bonus program with identical bonus triggers for all employees except the CEO, who has additional
\n
triggers related to capital raise and exit, and some modifications implemented for the sales employees. The bonus is calculated based
\n
on fixed salary, with a maximum of 80% for the CEO, 40% for the other members of the Executive Management Team, 20-30% for
\n
sales employees, 20% for department managers, and 10% for other employees. The bonus costs are included in \u201cWages and salaries\u201d
\n
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
Pensions
\n
poLight ASA (the Group\u2019s Norwegian company) is subject to the requirements of the Mandatory Occupational Pensions Act, and the
\n
company\u2019s pension scheme follows the requirements of the Act. As the subsidiaries in France, Finland and China are not subject to
\n
mandatory pension schemes in addition to the national insurance schemes, no pension scheme has been established there.
\n
The pension scheme in Norway is based on a defined contribution plan, and the premium is calculated on the basis of the employees\u2019
\n
income. In 2024 and 2025, 7% of the salary between 0G (1G=NOK 130,160 per May 1, 2025) and 7.1G, and 15% of the salary between
\n
7.1G and 12G was calculated. The period\u2019s contributions are recognised in the Consolidated statement of income.
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Defined contribution plan | \n1 928 | \n1 467 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Employer\u2019s national insurance contribution | \n272 | \n207 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total pension cost | \n2 200 | \n1 674 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
Share option plans (equity-settled)
\n
Share options in the parent company are granted to all employees. The exercise price of the share options is equal to, or higher than,
\n
the market price of the underlying shares on the date of grant.
\n
The share options are vested over 3 years, and exercisable with 1/12 each quarter over 3 years, starting at the date of grant. According
\n
to the share option agreement, the company is liable for corporate taxes including National Insurance, with a limitation of 20%. The
\n
program is conditional on the employee\u2019s continued employment in poLight.
\n
The share options can be exercised up to two years after the three-year vesting period. Exercisable share options may as a general
\n
rule, be exercised and shares issued once per quarter each following the release of poLight ASA\u2019s quarterly reports.
\n
\n
Share option expense
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Share based compensation costs | \n15 223 | \n10 008 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Employer\u2019s national insurance contribution | \n3 116 | \n-5 312 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Recognised as employee benefits expense | \n18 339 | \n4 697 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
The share options expense includes accrued employer\u2019s national insurance contribution expenses that are calculated based on the
\n
number of vested share options and a proportion of share options under vesting multiplied by the difference between market price
\n
and exercise price at the end for the period.
\n
The board is authorised to issue additional shares - in share option scheme - up to total par value of NOK 773,459 (19,336,471 shares
\n
at 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
\n
Outstanding share options at December 31, 2025
\n
\n
\n\n\n | \n | \n | \n | \n | \n | \n | \nRemaining | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n | \nOutstanding | \nExercisable | \nRemaining | \nTotal | \nestimated | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \nExercise price | \nno. of share | \nno. of share | \ncontractual | \nexpensed (in | \nexpense (in | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Year granted | \nNote | \n(NOK) | \noptions | \noptions | \nlife (years) | \nNOK 000) | \nNOK 000) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2019 | \n1 | \n3.78 | \n157 215 | \n157 215 | \n1.75 | \n574 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2023 | \n2 | \n12.15 | \n0 | \n0 | \n0.00 | \n6 879 | \n668 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2023 | \n2 | \n12.82 | \n0 | \n0 | \n0.00 | \n2 087 | \n3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2024 | \n2 | \n3.20 | \n4 935 330 | \n2 423 073 | \n3.46 | \n6 013 | \n1 139 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2024 | \n | \n4.33 | \n533 334 | \n212 497 | \n3.72 | \n992 | \n330 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2025 | \n | \n5.11 | \n250 000 | \n62 500 | \n4.01 | \n369 | \n203 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2025 | \n | \n3.95 | \n9 618 334 | \n1 593 324 | \n4.45 | \n9 363 | \n11 765 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n | \n15 494 213 | \n4 448 609 | \n4.07 | \n26 276 | \n14 107 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
1) 157,215 share options issued in 2019 originally expired in June 2024 was extended by board resolution in June 2024 and
\n
April 2025 with totally 39 months.
\n
2) The board offered, after board resolution in June 2024, a replacement share option agreement (after cancellation) to all
\n
share option holders. 5,304,490 share options were cancelled and replaced with a new share option agreement at strike
\n
3.20. The fair value of the new share options was measured to NOK 7.5 million net after reduction of the fair value of the
\n
cancelled share options.
\n
The terms of the stock options imply that exercise windows for exercising stock options shall be opened, normally each quarter after
\n
the presentation of quarterly reports. Throughout the term of these options, the Board has on several occasions not been able to
\n
open such exercise windows. The Board have mandate to extend the term of previously granted options for a period equivalent to
\n
the period of exercise windows that have not been opened, or subject to lock-up arrangements.
\n
The weighted average remaining contractual life for the share options outstanding as at 31 December 2025 was 4.07 years (2024:
\n
4.38 years).
\n
Reconciliation of outstanding share options
\n
\n
\n\n\n | \n2025 | \n | \n2024 | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nNumber of | \nWAEP | \nNumber of | \nWAEP | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nshare options | \n | \nshare options | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Outstanding at 1 January | \n6 271 705 | \n3.3 | \n5 579 066 | \n11.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Granted during the year | \n10 115 000 | \n4.0 | \n6 129 490 | \n3.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Terminated during the year | \n-556 664 | \n3.5 | \n-113 750 | \n11.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cancelled during the year | \n0 | \n | \n-5 304 490 | \n11.7 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Exercised during the year | \n-335 828 | \n3.3 | \n-1 250 | \n3.2 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Expired during the year | \n0 | \n | \n-17 361 | \n22.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Outstanding at 31 December | \n15 494 213 | \n3.7 | \n6 271 705 | \n3.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| In % of outstanding shares | \n7.28 % | \n | \n4.84 % | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Exercisable at 31 December | \n4 448 609 | \n3.6 | \n1 130 444 | \n3.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
The weighted average exercise price (WAEP) for the share options exercised during 2025 was NOK 3.3 (2024: NOK 3.2), and the
\n
average market price at the exercise dates was NOK 6.68 (2024: NOK 3.82).
\n
The weighted average exercise price for the share options outstanding as at 31 December 2025, was NOK 3.7 (2024: NOK 3.3) with a
\n
range from NOK 3.20 to NOK 5.11. At the end of the year, the weighted average exercise price was NOK 3.6 (2024: NOK 3.3) on
\n
exercisable options.
\n
In 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
\n
immediately vested.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n
\n
Share option valuation
\n
The fair value of the options granted in 2024 has been calculated to NOK 8.8 million excluding social security expenses (2023: NOK
\n
7.5 million), by using the Black-Scholes option pricing model.
\n
The basis for the valuation comprises several factors that affect the calculated fair value of granted options. The assumptions used
\n
in the calculation was:
\n
\n
\n\n\n | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n
\n\n| Price at grant date* | \nNOK 4.13 | \nNOK 3.85 | \n\n\n\n\n\n\n\n\n\n
\n\n| Exercise price* | \nNOK 3.98 | \nNOK 3.30 | \n\n\n\n\n\n\n\n\n\n
\n\n| Maximum1) option life | \n5 years | \n5 years | \n\n\n\n\n\n\n\n\n\n
\n\n| Assumed option life | \n2.63 years | \n2.63 years | \n\n\n\n\n\n\n\n\n\n
\n\n| Risk-free interest rate* | \n3,76 % | \n3.62 % | \n\n\n\n\n\n\n\n\n\n
\n\n| Volatility* | \n86 % | \n85 % | \n\n\n\n\n\n\n\n\n\n
\n\n| Fair value per share option* | \nNOK 2.19 | \nNOK 1.442) | \n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n
\n
\n
1) Although the share options expire 5 years from the date of the grant, any vested options are required to be exercised
\n
no later than the first exercise window after an employee's last day of service with the company.
\n
2) The low fair value is due to the fact that most of the grants in 2024 were replacements of existing programs, where the
\n
fair value was measured to net after reduction of the fair value of the cancelled share options.
\n
*) Weighted average parameters at grant of the share options.
\n
\n
Expected vesting is estimated based on employee turnover, and volatility is deemed based on historic volatility.
\n
Sensitivity analysis
\n
The fair value of the share options granted in 2025 of NOK 22.2 million was determined based on an assumption of a volatility of
\n
86%. At a volatility of 60%, holding other assumptions constants, would have decreased the fair value with NOK 5.4 million over the
\n
vesting period. A decrease in the assumed lifetime of the share options with 1 year, would have decreased the fair value with NOK
\n
4.2 million over 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",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag384": {
"value": "\n5.3 Employee benefits expense
\n\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Included in Research and development expenses: | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Wages and salaries | \n12 537 | \n10 388 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Consultants engaged on long-term contracts | \n10 664 | \n9 214 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Social security costs | \n2 220 | \n1 979 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Pension costs | \n651 | \n514 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other benefits and social costs | \n451 | \n645 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Share based compensation costs | \n5 083 | \n2 154 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Grants | \n-527 | \n-323 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Included 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
\n\n| Wages and salaries | \n3 744 | \n2 572 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Consultants engaged on long-term contracts | \n8 492 | \n7 834 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Social security costs | \n663 | \n490 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Pension costs | \n194 | \n127 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other benefits and social costs | \n135 | \n160 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Share based compensation costs | \n2 514 | \n2 115 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Included in Operational / supply chain expenses: | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Wages and salaries | \n8 176 | \n5 679 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Consultants engaged on long-term contracts | \n5 125 | \n8 054 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Social security costs | \n1 395 | \n1 082 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Pension costs | \n409 | \n281 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other benefits and social costs | \n283 | \n353 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Share based compensation costs | \n3 887 | \n1 460 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Internal assembly and testing (COGS) | \n-698 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Included 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| Wages and salaries | \n15 316 | \n12 571 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Consultants engaged on long-term contract | \n1 075 | \n287 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Social security costs | \n2 712 | \n2 394 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Pension costs | \n795 | \n622 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other benefits and social costs | \n551 | \n781 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Share based compensation costs | \n6 855 | \n-1 032 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total employee benefits expense | \n92 702 | \n70 401 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Average number of man-years, employees | \n27 | \n27 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Average number of man-years, total | \n46 | \n45 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\nBonus program
\nAll employees are included in a cash bonus program with identical bonus triggers for all employees except the CEO, who has additional
\ntriggers related to capital raise and exit, and some modifications implemented for the sales employees. The bonus is calculated based
\non fixed salary, with a maximum of 80% for the CEO, 40% for the other members of the Executive Management Team, 20-30% for
\nsales employees, 20% for department managers, and 10% for other employees. The bonus costs are included in \u201cWages and salaries\u201d
\nand \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
\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 2024 and 2025, 7% of the salary between 0G (1G=NOK 130,160 per May 1, 2025) and 7.1G, and 15% of the salary between
\n7.1G and 12G was calculated. The period\u2019s contributions are recognised in the Consolidated statement of income.
\n\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Defined contribution plan | \n1 928 | \n1 467 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Employer\u2019s national insurance contribution | \n272 | \n207 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total pension cost | \n2 200 | \n1 674 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
Share option plans (equity-settled)
\n
Share options in the parent company are granted to all employees. The exercise price of the share options is equal to, or higher than,
\n
the market price of the underlying shares on the date of grant.
\n
The share options are vested over 3 years, and exercisable with 1/12 each quarter over 3 years, starting at the date of grant. According
\n
to the share option agreement, the company is liable for corporate taxes including National Insurance, with a limitation of 20%. The
\n
program is conditional on the employee\u2019s continued employment in poLight.
\n
The share options can be exercised up to two years after the three-year vesting period. Exercisable share options may as a general
\n
rule, be exercised and shares issued once per quarter each following the release of poLight ASA\u2019s quarterly reports.
\n
\n
Share option expense
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Share based compensation costs | \n15 223 | \n10 008 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Employer\u2019s national insurance contribution | \n3 116 | \n-5 312 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Recognised as employee benefits expense | \n18 339 | \n4 697 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
The share options expense includes accrued employer\u2019s national insurance contribution expenses that are calculated based on the
\n
number of vested share options and a proportion of share options under vesting multiplied by the difference between market price
\n
and exercise price at the end for the period.
\n
The board is authorised to issue additional shares - in share option scheme - up to total par value of NOK 773,459 (19,336,471 shares
\n
at 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
Outstanding share options at December 31, 2025
\n
\n
\n\n\n | \n | \n | \n | \n | \n | \n | \nRemaining | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n | \nOutstanding | \nExercisable | \nRemaining | \nTotal | \nestimated | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \nExercise price | \nno. of share | \nno. of share | \ncontractual | \nexpensed (in | \nexpense (in | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Year granted | \nNote | \n(NOK) | \noptions | \noptions | \nlife (years) | \nNOK 000) | \nNOK 000) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2019 | \n1 | \n3.78 | \n157 215 | \n157 215 | \n1.75 | \n574 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2023 | \n2 | \n12.15 | \n0 | \n0 | \n0.00 | \n6 879 | \n668 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2023 | \n2 | \n12.82 | \n0 | \n0 | \n0.00 | \n2 087 | \n3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2024 | \n2 | \n3.20 | \n4 935 330 | \n2 423 073 | \n3.46 | \n6 013 | \n1 139 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2024 | \n | \n4.33 | \n533 334 | \n212 497 | \n3.72 | \n992 | \n330 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2025 | \n | \n5.11 | \n250 000 | \n62 500 | \n4.01 | \n369 | \n203 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2025 | \n | \n3.95 | \n9 618 334 | \n1 593 324 | \n4.45 | \n9 363 | \n11 765 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n | \n15 494 213 | \n4 448 609 | \n4.07 | \n26 276 | \n14 107 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
1) 157,215 share options issued in 2019 originally expired in June 2024 was extended by board resolution in June 2024 and
\n
April 2025 with totally 39 months.
\n
2) The board offered, after board resolution in June 2024, a replacement share option agreement (after cancellation) to all
\n
share option holders. 5,304,490 share options were cancelled and replaced with a new share option agreement at strike
\n
3.20. The fair value of the new share options was measured to NOK 7.5 million net after reduction of the fair value of the
\n
cancelled share options.
\n
The terms of the stock options imply that exercise windows for exercising stock options shall be opened, normally each quarter after
\n
the presentation of quarterly reports. Throughout the term of these options, the Board has on several occasions not been able to
\n
open such exercise windows. The Board have mandate to extend the term of previously granted options for a period equivalent to
\n
the period of exercise windows that have not been opened, or subject to lock-up arrangements.
\n
The weighted average remaining contractual life for the share options outstanding as at 31 December 2025 was 4.07 years (2024:
\n
4.38 years).
\n
Reconciliation of outstanding share options
\n
\n
\n\n\n | \n2025 | \n | \n2024 | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nNumber of | \nWAEP | \nNumber of | \nWAEP | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nshare options | \n | \nshare options | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Outstanding at 1 January | \n6 271 705 | \n3.3 | \n5 579 066 | \n11.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Granted during the year | \n10 115 000 | \n4.0 | \n6 129 490 | \n3.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Terminated during the year | \n-556 664 | \n3.5 | \n-113 750 | \n11.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cancelled during the year | \n0 | \n | \n-5 304 490 | \n11.7 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Exercised during the year | \n-335 828 | \n3.3 | \n-1 250 | \n3.2 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Expired during the year | \n0 | \n | \n-17 361 | \n22.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Outstanding at 31 December | \n15 494 213 | \n3.7 | \n6 271 705 | \n3.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| In % of outstanding shares | \n7.28 % | \n | \n4.84 % | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Exercisable at 31 December | \n4 448 609 | \n3.6 | \n1 130 444 | \n3.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
The weighted average exercise price (WAEP) for the share options exercised during 2025 was NOK 3.3 (2024: NOK 3.2), and the
\n
average market price at the exercise dates was NOK 6.68 (2024: NOK 3.82).
\n
The weighted average exercise price for the share options outstanding as at 31 December 2025, was NOK 3.7 (2024: NOK 3.3) with a
\n
range from NOK 3.20 to NOK 5.11. At the end of the year, the weighted average exercise price was NOK 3.6 (2024: NOK 3.3) on
\n
exercisable options.
\n
In 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
\n
immediately vested.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
Share option valuation
\n
The fair value of the options granted in 2024 has been calculated to NOK 8.8 million excluding social security expenses (2023: NOK
\n
7.5 million), by using the Black-Scholes option pricing model.
\n
The basis for the valuation comprises several factors that affect the calculated fair value of granted options. The assumptions used
\n
in the calculation was:
\n
\n
\n\n\n | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n
\n\n| Price at grant date* | \nNOK 4.13 | \nNOK 3.85 | \n\n\n\n\n\n\n\n\n\n
\n\n| Exercise price* | \nNOK 3.98 | \nNOK 3.30 | \n\n\n\n\n\n\n\n\n\n
\n\n| Maximum1) option life | \n5 years | \n5 years | \n\n\n\n\n\n\n\n\n\n
\n\n| Assumed option life | \n2.63 years | \n2.63 years | \n\n\n\n\n\n\n\n\n\n
\n\n| Risk-free interest rate* | \n3,76 % | \n3.62 % | \n\n\n\n\n\n\n\n\n\n
\n\n| Volatility* | \n86 % | \n85 % | \n\n\n\n\n\n\n\n\n\n
\n\n| Fair value per share option* | \nNOK 2.19 | \nNOK 1.442) | \n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n
\n
\n
1) Although the share options expire 5 years from the date of the grant, any vested options are required to be exercised
\n
no later than the first exercise window after an employee's last day of service with the company.
\n
2) The low fair value is due to the fact that most of the grants in 2024 were replacements of existing programs, where the
\n
fair value was measured to net after reduction of the fair value of the cancelled share options.
\n
*) Weighted average parameters at grant of the share options.
\n
\n
Expected vesting is estimated based on employee turnover, and volatility is deemed based on historic volatility.
\n
Sensitivity analysis
\n
The fair value of the share options granted in 2025 of NOK 22.2 million was determined based on an assumption of a volatility of
\n
86%. At a volatility of 60%, holding other assumptions constants, would have decreased the fair value with NOK 5.4 million over the
\n
vesting period. A decrease in the assumed lifetime of the share options with 1 year, would have decreased the fair value with NOK
\n
4.2 million over the vesting period.
\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": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag388": {
"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.
\nThe share options are vested over 3 years, and exercisable with 1/12 each quarter over 3 years, starting at the date of grant. According
\nto the share option agreement, the company is liable for corporate taxes including National Insurance, with a limitation of 20%. The
\nprogram is 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.
\n
\nShare option expense
\n\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Share based compensation costs | \n15 223 | \n10 008 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Employer\u2019s national insurance contribution | \n3 116 | \n-5 312 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Recognised as employee benefits expense | \n18 339 | \n4 697 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\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 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 773,459 (19,336,471 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\nOutstanding share options at December 31, 2025
\n\n
\n\n\n | \n | \n | \n | \n | \n | \n | \nRemaining | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n | \nOutstanding | \nExercisable | \nRemaining | \nTotal | \nestimated | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \nExercise price | \nno. of share | \nno. of share | \ncontractual | \nexpensed (in | \nexpense (in | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Year granted | \nNote | \n(NOK) | \noptions | \noptions | \nlife (years) | \nNOK 000) | \nNOK 000) | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2019 | \n1 | \n3.78 | \n157 215 | \n157 215 | \n1.75 | \n574 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2023 | \n2 | \n12.15 | \n0 | \n0 | \n0.00 | \n6 879 | \n668 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2023 | \n2 | \n12.82 | \n0 | \n0 | \n0.00 | \n2 087 | \n3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2024 | \n2 | \n3.20 | \n4 935 330 | \n2 423 073 | \n3.46 | \n6 013 | \n1 139 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2024 | \n | \n4.33 | \n533 334 | \n212 497 | \n3.72 | \n992 | \n330 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2025 | \n | \n5.11 | \n250 000 | \n62 500 | \n4.01 | \n369 | \n203 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2025 | \n | \n3.95 | \n9 618 334 | \n1 593 324 | \n4.45 | \n9 363 | \n11 765 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \n | \n | \n15 494 213 | \n4 448 609 | \n4.07 | \n26 276 | \n14 107 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n1) 157,215 share options issued in 2019 originally expired in June 2024 was extended by board resolution in June 2024 and
\nApril 2025 with totally 39 months.
\n2) The board offered, after board resolution in June 2024, a replacement share option agreement (after cancellation) to all
\nshare option holders. 5,304,490 share options were cancelled and replaced with a new share option agreement at strike
\n3.20. The fair value of the new share options was measured to NOK 7.5 million net after reduction of the fair value of the
\ncancelled share options.
\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 have mandate to extend the term of previously granted options for a period equivalent to
\nthe period of exercise windows that have not been opened, or subject to lock-up arrangements.
\nThe weighted average remaining contractual life for the share options outstanding as at 31 December 2025 was 4.07 years (2024:
\n4.38 years).
\nReconciliation of outstanding share options
\n\n
\n\n\n | \n2025 | \n | \n2024 | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nNumber of | \nWAEP | \nNumber of | \nWAEP | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n | \nshare options | \n | \nshare options | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Outstanding at 1 January | \n6 271 705 | \n3.3 | \n5 579 066 | \n11.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Granted during the year | \n10 115 000 | \n4.0 | \n6 129 490 | \n3.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Terminated during the year | \n-556 664 | \n3.5 | \n-113 750 | \n11.1 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cancelled during the year | \n0 | \n | \n-5 304 490 | \n11.7 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Exercised during the year | \n-335 828 | \n3.3 | \n-1 250 | \n3.2 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Expired during the year | \n0 | \n | \n-17 361 | \n22.8 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Outstanding at 31 December | \n15 494 213 | \n3.7 | \n6 271 705 | \n3.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| In % of outstanding shares | \n7.28 % | \n | \n4.84 % | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Exercisable at 31 December | \n4 448 609 | \n3.6 | \n1 130 444 | \n3.3 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\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 2025 was NOK 3.3 (2024: NOK 3.2), and the
\naverage market price at the exercise dates was NOK 6.68 (2024: NOK 3.82).
\nThe weighted average exercise price for the share options outstanding as at 31 December 2025, was NOK 3.7 (2024: NOK 3.3) with a
\nrange from NOK 3.20 to NOK 5.11. At the end of the year, the weighted average exercise price was NOK 3.6 (2024: NOK 3.3) on
\nexercisable 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
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nShare option valuation
\nThe fair value of the options granted in 2024 has been calculated to NOK 8.8 million excluding social security expenses (2023: NOK
\n7.5 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 | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n
\n\n| Price at grant date* | \nNOK 4.13 | \nNOK 3.85 | \n\n\n\n\n\n\n\n\n\n
\n\n| Exercise price* | \nNOK 3.98 | \nNOK 3.30 | \n\n\n\n\n\n\n\n\n\n
\n\n| Maximum1) option life | \n5 years | \n5 years | \n\n\n\n\n\n\n\n\n\n
\n\n| Assumed option life | \n2.63 years | \n2.63 years | \n\n\n\n\n\n\n\n\n\n
\n\n| Risk-free interest rate* | \n3,76 % | \n3.62 % | \n\n\n\n\n\n\n\n\n\n
\n\n| Volatility* | \n86 % | \n85 % | \n\n\n\n\n\n\n\n\n\n
\n\n| Fair value per share option* | \nNOK 2.19 | \nNOK 1.442) | \n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n
\n1) Although the share options expire 5 years from the date of the grant, any vested options are required to be exercised
\nno later than the first exercise window after an employee's last day of service with the company.
\n2) The low fair value is due to the fact that most of the grants in 2024 were replacements of existing programs, where the
\nfair value was measured to net after reduction of the fair value of the cancelled share options.
\n*) Weighted average parameters at grant of the share options.
\n
\nExpected vesting is estimated based on employee turnover, and volatility is deemed based on historic volatility.
\nSensitivity analysis
\nThe fair value of the share options granted in 2025 of NOK 22.2 million was determined based on an assumption of a volatility of
\n86%. At a volatility of 60%, holding other assumptions constants, would have decreased the fair value with NOK 5.4 million over the
\nvesting period. A decrease in the assumed lifetime of the share options with 1 year, would have decreased the fair value with NOK
\n4.2 million over the vesting period.
\n
\n\n\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
"language": "en",
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"Tag391": {
"value": "\n5.4 Research and development expenses
\n\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Employee benefits expense (incl. consultants) | \n31 605 | \n24 895 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other operating expenses | \n19 670 | \n9 646 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Government grants | \n-2 205 | \n-2 217 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Capitalized | \n0 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Research and development expenses | \n49 070 | \n32 323 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\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 2025 and 2024 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
10 Development costs
\n
The part of poLight\u2019s IP (intellectual property) that is recognised as an intangible asset is the fundamental TLens\u00ae technology, which
\n
can become a component in smartphones, wearables, augmented reality and various medical equipment, as well as a wide range of
\n
industrial applications, such as barcode readers and machine vision/sensor applications.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n
\n\n\n | \nCarrying amount | \n | \n | \n\n\n\n\n\n
\n\n | \nbefore | \nCarrying amount | \nAccumulated net | \n\n\n\n\n\n
\n\n| (in NOK 000) | \nimpairment | \nafter impairment | \nimpairment loss | \n\n\n\n\n\n
\n\n| CGU: TLens\u00ae technology platform | \n | \n | \n | \n\n\n\n\n\n
\n\n| At 31 December 2024 | \n28 586 | \n10 306 | \n18 280 | \n\n\n\n\n\n
\n\n| At 31 December 2025 | \n21 311 | \n3 031 | \n18 280 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n
The TLens\u00ae technology platform is poLight\u2019s major asset. In January 2020, the first product using TLens Silver was launched within
\n
the consumer market segment: a smartwatch phone for children, with a main camera with an advanced autofocus (AF) function
\n
delivered by poLight. Since then, many design-wins have been achieved. The first smartphone design-win was achieved in January
\n
2023. poLight has also achieved design-wins in barcode and machine vision, augmented / mixed reality (AR/MR) and healthcare
\n
products.
\n
The company has one major asset, the TLens\u00ae technology platform, and management has evaluated that the Group as a whole
\n
constitutes one CGU for impairment testing. The remaining carrying value of development costs are NOK 3.0 million and are related
\n
to TLens\u00ae technology platform. Indicators of impairment of the TLens \u00ae technology platform have been reviewed, and none identified.
\n
TLens\u00ae Platinum, a larger version of the TLens\u00ae, is still under development. Engineering samples have been produced and tested by
\n
some potential customers. However, efforts to prepare TLens\u00ae Platinum for mass production have been put on hold until the product
\n
is closer to the anticipated market breakthrough. In December 2019, a management assessment was made and an impairment charge
\n
of NOK 18.3 million was recognised with respect to this product, reducing the carrying amount to NOK 0. This variant of the TLens\u00ae
\n
is still on the technological roadmap, and will be continued when the product has sufficient customer commitment.
\n
In addition, management considers that the equity value of the company is an indication of the fair value of the CGU. The company\u2019s
\n
shares are listed on Oslo Stock Exchange and fair value is estimated on the basis of the observed share price. The fair value
\n
measurement is categorised in level 2 of the fair value hierarchy in accordance with IFRS 13. There is considerable headroom between
\n
the carrying value and the fair value less cost of disposal.
\n
\n\n\n\n\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfResearchAndDevelopmentExpenseExplanatory",
"language": "en",
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"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
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"Tag346": {
"value": "\n5.7 Administrative expenses
\n\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Employee benefits expense | \n27 304 | \n15 622 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other operating expenses | \n551 | \n11 328 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Administrative expenses | \n27 855 | \n26 950 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\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:DisclosureOfGeneralAndAdministrativeExpenseExplanatory",
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"Tag347": {
"value": "\n5.8 Auditor's remuneration
\n\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Statutory audit | \n1 182 | \n985 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other attestation services | \n485 | \n279 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Tax consultancy | \n132 | \n38 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Other services that are not part of the audit | \n102 | \n128 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total Auditor's remuneration(excluding VAT) | \n1 900 | \n1 430 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
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"concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
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"value": "\n
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
5.9 Financial items
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance income | \n0 | \n211 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest income | \n10 510 | \n7 431 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance income | \n10 510 | \n7 642 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\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) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net foreign exchange losses | \n424 | \n404 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest expense on debts and borrowings | \n4 | \n4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest expense on lease liabilities | \n961 | \n252 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance expenses | \n26 | \n25 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance cost | \n1 414 | \n685 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n",
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"value": "\n
\n\n
\n
\n
\n
\n
\n
\n
5.9 Financial items
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance income | \n0 | \n211 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest income | \n10 510 | \n7 431 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance income | \n10 510 | \n7 642 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
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\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net foreign exchange losses | \n424 | \n404 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest expense on debts and borrowings | \n4 | \n4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest expense on lease liabilities | \n961 | \n252 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance expenses | \n26 | \n25 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance cost | \n1 414 | \n685 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
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"Tag350": {
"value": "\n
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5.9 Financial items
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\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance income | \n0 | \n211 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest income | \n10 510 | \n7 431 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance income | \n10 510 | \n7 642 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net foreign exchange losses | \n424 | \n404 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest expense on debts and borrowings | \n4 | \n4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest expense on lease liabilities | \n961 | \n252 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance expenses | \n26 | \n25 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance cost | \n1 414 | \n685 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory",
"language": "en",
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"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
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"Tag351": {
"value": "\n
\n\n
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5.9 Financial items
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\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance income | \n0 | \n211 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest income | \n10 510 | \n7 431 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance income | \n10 510 | \n7 642 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net foreign exchange losses | \n424 | \n404 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest expense on debts and borrowings | \n4 | \n4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest expense on lease liabilities | \n961 | \n252 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance expenses | \n26 | \n25 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance cost | \n1 414 | \n685 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag352": {
"value": "\n
\n\n
5.9 Financial items
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\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance income | \n0 | \n211 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest income | \n10 510 | \n7 431 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance income | \n10 510 | \n7 642 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net foreign exchange losses | \n424 | \n404 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest expense on debts and borrowings | \n4 | \n4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest expense on lease liabilities | \n961 | \n252 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance expenses | \n26 | \n25 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance cost | \n1 414 | \n685 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag353": {
"value": "\n5.9 Financial items
\n\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance income | \n0 | \n211 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest income | \n10 510 | \n7 431 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance income | \n10 510 | \n7 642 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net foreign exchange losses | \n424 | \n404 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest expense on debts and borrowings | \n4 | \n4 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Interest expense on lease liabilities | \n961 | \n252 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance expenses | \n26 | \n25 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Finance cost | \n1 414 | \n685 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag354": {
"value": "\n
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6 Income tax
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The significant components of income tax expense are:
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\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Consolidated 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\n| Current income tax expense | \n207 | \n139 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Deferred tax: | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Relating to origination and reversal of temporary differences | \n0 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Income tax expense reported in the statement of profit or loss | \n207 | \n139 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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A reconciliation between tax expense and the product of accounting profit multiplied by Norway\u2019s domestic tax rate is as follows:
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\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Calculated income tax at statutory rate of 22% | \n-25 972 | \n-22 362 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Government grants exempt from tax | \n-504 | \n-428 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Tax effect of permanent differences 1) | \n3 845 | \n1 083 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Change in unrecognised deferred tax assets | \n22 738 | \n22 122 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Effect of different tax rates compared with Norwegian tax rate | \n-326 | \n-249 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Foreign currency effects | \n410 | \n112 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Adjustments previous year | \n16 | \n-139 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Income tax expense | \n207 | \n139 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Effective tax rate | \n0,2 % | \n0,1 % | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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1) Includes tax effect of share option expense, see Note 5.3 Employee benefits expense.
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Movements in deferred tax balances
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\n\n\n | \n | \n | \n | \n | \nBalance at 31 December | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2025 | \nNet balance at | \nRecognised in | \nRecognised in | \n | \nDeferred tax | \nDeferred tax | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (in NOK 000) | \n1 January | \nprofit or loss | \nOCI | \nNet | \nassets | \nliabilities | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Property, plant and | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| equipment | \n-220 | \n60 | \n0 | \n-160 | \n0 | \n-160 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Intangible assets | \n4 896 | \n-135 | \n0 | \n4 761 | \n4 761 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Inventories | \n4 698 | \n1 916 | \n0 | \n6 613 | \n6 613 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Group loan | \n-2 156 | \n0 | \n-25 | \n-2 181 | \n0 | \n-2 181 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Provisions | \n1 613 | \n-1 393 | \n0 | \n220 | \n220 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Tax losses carried forward | \n206 784 | \n25 433 | \n0 | \n232 217 | \n232 217 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Tax assets (liabilities) before | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| set-off | \n215 614 | \n25 881 | \n-25 | \n241 471 | \n243 811 | \n-2 341 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Set-off of tax | \n | \n | \n | \n0 | \n-2 341 | \n2 341 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Unrecognised deferred tax | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| assets | \n-215 614 | \n-25 881 | \n25 | \n-241 471 | \n-241 471 | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net 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
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\n\n\n | \n | \n | \n | \n | \nBalance at 31 December | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2024 | \nNet balance | \nRecognised in | \nRecognised in | \n | \nDeferred tax | \nDeferred tax | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (in NOK 000) | \nat 1 January | \nprofit or loss | \nOCI | \nNet | \nassets | \nliabilities | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Property, plant and | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| equipment | \n-87 | \n-134 | \n0 | \n-220 | \n0 | \n-220 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Intangible assets | \n5 031 | \n-135 | \n0 | \n4 896 | \n4 896 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Inventories | \n3 288 | \n1 410 | \n0 | \n4 698 | \n4 698 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Group loan | \n-1 833 | \n0 | \n-323 | \n-2 156 | \n0 | \n-2 156 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Provisions | \n220 | \n1 393 | \n0 | \n1 613 | \n1 613 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Tax losses carried forward | \n182 101 | \n24 682 | \n0 | \n206 784 | \n206 784 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Tax assets (liabilities) before | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| set-off | \n188 720 | \n27 217 | \n-323 | \n215 614 | \n217 990 | \n-2 376 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Set-off of tax | \n | \n | \n | \n0 | \n-2 376 | \n2 376 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Unrecognised deferred tax | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| assets | \n-188 720 | \n-27 217 | \n323 | \n-215 614 | \n-215 614 | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net 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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
Since the Group is still in an early commercialisation phase with significant losses, no deferred tax assets have been recognized.
\n
Total unrecognised deferred tax assets net, relate to
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Norway (no expiry date) | \n237 110 | \n211 225 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| France (no expiry date) | \n4 360 | \n4 388 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total unrecognised deferred tax assets | \n241 471 | \n215 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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\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:DisclosureOfIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag355": {
"value": "\n6 Income tax
\nThe significant components of income tax expense are:
\n\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Consolidated 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\n| Current income tax expense | \n207 | \n139 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Deferred tax: | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Relating to origination and reversal of temporary differences | \n0 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Income tax expense reported in the statement of profit or loss | \n207 | \n139 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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\nA reconciliation between tax expense and the product of accounting profit multiplied by Norway\u2019s domestic tax rate is as follows:
\n\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Calculated income tax at statutory rate of 22% | \n-25 972 | \n-22 362 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Government grants exempt from tax | \n-504 | \n-428 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Tax effect of permanent differences 1) | \n3 845 | \n1 083 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Change in unrecognised deferred tax assets | \n22 738 | \n22 122 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Effect of different tax rates compared with Norwegian tax rate | \n-326 | \n-249 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Foreign currency effects | \n410 | \n112 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Adjustments previous year | \n16 | \n-139 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Income tax expense | \n207 | \n139 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Effective tax rate | \n0,2 % | \n0,1 % | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
1) Includes tax effect of share option expense, see Note 5.3 Employee benefits expense.
\n
\nMovements in deferred tax balances
\n\n
\n\n\n | \n | \n | \n | \n | \nBalance at 31 December | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2025 | \nNet balance at | \nRecognised in | \nRecognised in | \n | \nDeferred tax | \nDeferred tax | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (in NOK 000) | \n1 January | \nprofit or loss | \nOCI | \nNet | \nassets | \nliabilities | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Property, plant and | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| equipment | \n-220 | \n60 | \n0 | \n-160 | \n0 | \n-160 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Intangible assets | \n4 896 | \n-135 | \n0 | \n4 761 | \n4 761 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Inventories | \n4 698 | \n1 916 | \n0 | \n6 613 | \n6 613 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Group loan | \n-2 156 | \n0 | \n-25 | \n-2 181 | \n0 | \n-2 181 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Provisions | \n1 613 | \n-1 393 | \n0 | \n220 | \n220 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Tax losses carried forward | \n206 784 | \n25 433 | \n0 | \n232 217 | \n232 217 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Tax assets (liabilities) before | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| set-off | \n215 614 | \n25 881 | \n-25 | \n241 471 | \n243 811 | \n-2 341 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Set-off of tax | \n | \n | \n | \n0 | \n-2 341 | \n2 341 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Unrecognised deferred tax | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| assets | \n-215 614 | \n-25 881 | \n25 | \n-241 471 | \n-241 471 | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net 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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n | \n | \n | \n | \n | \nBalance at 31 December | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2024 | \nNet balance | \nRecognised in | \nRecognised in | \n | \nDeferred tax | \nDeferred tax | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (in NOK 000) | \nat 1 January | \nprofit or loss | \nOCI | \nNet | \nassets | \nliabilities | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Property, plant and | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| equipment | \n-87 | \n-134 | \n0 | \n-220 | \n0 | \n-220 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Intangible assets | \n5 031 | \n-135 | \n0 | \n4 896 | \n4 896 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Inventories | \n3 288 | \n1 410 | \n0 | \n4 698 | \n4 698 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Group loan | \n-1 833 | \n0 | \n-323 | \n-2 156 | \n0 | \n-2 156 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Provisions | \n220 | \n1 393 | \n0 | \n1 613 | \n1 613 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Tax losses carried forward | \n182 101 | \n24 682 | \n0 | \n206 784 | \n206 784 | \n0 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Tax assets (liabilities) before | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| set-off | \n188 720 | \n27 217 | \n-323 | \n215 614 | \n217 990 | \n-2 376 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Set-off of tax | \n | \n | \n | \n0 | \n-2 376 | \n2 376 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Unrecognised deferred tax | \n | \n | \n | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| assets | \n-188 720 | \n-27 217 | \n323 | \n-215 614 | \n-215 614 | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net 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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\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\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Norway (no expiry date) | \n237 110 | \n211 225 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| France (no expiry date) | \n4 360 | \n4 388 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Total unrecognised deferred tax assets | \n241 471 | \n215 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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\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:DisclosureOfDeferredTaxesExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag358": {
"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 | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Weighted average number of ordinary shares for basic EPS | \n175 337 522 | \n104 962 138 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Effect of dilution: | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Share options in-the-money (average) | \n2 390 124 | \n484 537 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Anti-dilutive for the periods presented | \n-2 390 124 | \n-484 537 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Weighted average number of shares adjusted for the effect of dilution | \n175 337 522 | \n104 962 138 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n\n\n| (in NOK) | \n2025 | \n2024 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Profit / loss (-) attributable to ordinary equity holders of the parent | \n-118 261 | \n-101 785 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Earnings per share for income attributable to equity holders of poLight: | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Basic | \n-0.67 | \n-0.97 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Diluted | \n-0.67 | \n-0.97 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\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:DisclosureOfEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag360": {
"value": "\n
\n\n
\n
\n
8 Property, plant and equipment
\n
\n
\n\n\n | \nLeasehold | \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) | \nimprovements | \nEquipment | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cost at 1 January 2024 | \n1 248 | \n22 123 | \n23 371 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Additions | \n27 | \n2 375 | \n2 402 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Disposals at cost | \n-68 | \n-91 | \n-159 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Foreign currency translation effect | \n0 | \n109 | \n109 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cost at 31 December 2024 | \n1 207 | \n24 516 | \n25 723 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated depreciation and impairment losses at 1 January 2024 | \n-598 | \n-13 533 | \n-14 131 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation | \n-249 | \n-1 811 | \n-2 060 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Impairment losses | \n0 | \n-26 | \n-26 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated depreciation and impairment losses disposals | \n41 | \n91 | \n132 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Effect of changes in foreign exchange | \n0 | \n-79 | \n-79 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated depreciation and impairment losses at 31 December 2024 | \n-805 | \n-15 359 | \n-16 164 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net book value at 31 December 2024 | \n402 | \n9 157 | \n9 559 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n\n\n | \nLeasehold | \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) | \nimprovements | \nEquipment | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cost at 1 January 2025 | \n1 207 | \n24 516 | \n25 723 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Additions | \n0 | \n1 681 | \n1 681 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Disposals at cost | \n0 | \n-90 | \n-90 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Foreign currency translation effect | \n0 | \n10 | \n10 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cost at 31 December 2025 | \n1 207 | \n26 117 | \n27 324 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated depreciation and impairment losses at 1 January 2025 | \n-805 | \n-15 359 | \n-16 164 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation | \n-243 | \n-2 274 | \n-2 517 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated depreciation and impairment losses disposals | \n0 | \n49 | \n49 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Effect of changes in foreign exchange | \n0 | \n-10 | \n-10 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated depreciation and impairment losses at 31 December 2025 | \n-1 048 | \n-17 593 | \n-18 641 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net book value at 31 December | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2025 | \n159 | \n8 524 | \n8 683 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Estimated useful lives | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (years) | \n1) | \n3-7 | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
1) Modifications and upgrades in leased premises are depreciated over the leasing 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",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag361": {
"value": "\n
\n\n
8 Property, plant and equipment
\n
\n
\n\n\n | \nLeasehold | \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) | \nimprovements | \nEquipment | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cost at 1 January 2024 | \n1 248 | \n22 123 | \n23 371 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Additions | \n27 | \n2 375 | \n2 402 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Disposals at cost | \n-68 | \n-91 | \n-159 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Foreign currency translation effect | \n0 | \n109 | \n109 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cost at 31 December 2024 | \n1 207 | \n24 516 | \n25 723 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated depreciation and impairment losses at 1 January 2024 | \n-598 | \n-13 533 | \n-14 131 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation | \n-249 | \n-1 811 | \n-2 060 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Impairment losses | \n0 | \n-26 | \n-26 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated depreciation and impairment losses disposals | \n41 | \n91 | \n132 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Effect of changes in foreign exchange | \n0 | \n-79 | \n-79 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated depreciation and impairment losses at 31 December 2024 | \n-805 | \n-15 359 | \n-16 164 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net book value at 31 December 2024 | \n402 | \n9 157 | \n9 559 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n\n\n | \nLeasehold | \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) | \nimprovements | \nEquipment | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cost at 1 January 2025 | \n1 207 | \n24 516 | \n25 723 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Additions | \n0 | \n1 681 | \n1 681 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Disposals at cost | \n0 | \n-90 | \n-90 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Foreign currency translation effect | \n0 | \n10 | \n10 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cost at 31 December 2025 | \n1 207 | \n26 117 | \n27 324 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated depreciation and impairment losses at 1 January 2025 | \n-805 | \n-15 359 | \n-16 164 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation | \n-243 | \n-2 274 | \n-2 517 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated depreciation and impairment losses disposals | \n0 | \n49 | \n49 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Effect of changes in foreign exchange | \n0 | \n-10 | \n-10 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated depreciation and impairment losses at 31 December 2025 | \n-1 048 | \n-17 593 | \n-18 641 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net book value at 31 December | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2025 | \n159 | \n8 524 | \n8 683 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Estimated useful lives | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (years) | \n1) | \n3-7 | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
1) Modifications and upgrades in leased premises are depreciated over the leasing 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
9 Intangible assets
\n
\n
\n\n\n | \nDevelopment costs | \nSoftware | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (in NOK 000) | \nand TLens patents | \nlicense | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cost at 1 January 2024 | \n78 184 | \n181 | \n78 365 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cost at 31 December 2024 | \n78 184 | \n181 | \n78 365 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated amortisation and impairment losses at 1 January 2024 | \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| Amortisation | \n-7 275 | \n0 | \n-7 275 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated amortisation and impairment losses at 31 December 2024 | \n-67 879 | \n-181 | \n-68 060 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net book value at 31 December 2024 | \n10 306 | \n0 | \n10 306 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n\n\n | \nDevelopment costs | \nSoftware | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (in NOK 000) | \nand TLens patents | \nlicense | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cost at 1 January 2025 | \n78 184 | \n181 | \n78 365 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Disposals | \n0 | \n-110 | \n-110 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cost at 31 December 2025 | \n78 184 | \n71 | \n78 255 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated amortisation and impairment losses at 1 January 2025 | \n-67 879 | \n-181 | \n-68 059 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Amortisation | \n-7 275 | \n0 | \n-7 275 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Disposals | \n0 | \n110 | \n110 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated amortisation and impairment losses at 31 December | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2025 | \n-75 153 | \n-71 | \n-75 224 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net book value at 31 December 2025 | \n3 031 | \n0 | \n3 031 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
Intangible assets with finite useful lives, are amortised systematically over their estimated useful lives, ranging between 3 and 7 years.
\n
In 2008/2009, poLight acquired the core patents of the TLens\u00ae technology for NOK 5 million. The patents were granted in 10 different
\n
countries in 2006. poLight has since invested substantial resources in research and product development of the TLens\u00ae.
\n
poLight started amortising capitalised development costs for TLens Silver in the second quarter of 2019 as it became ready for
\n
commercial shipments. The useful lives are deemed to be 7 years which correlates with the remaining number of years of the first
\n
patent.
\n
Research and development costs that are not eligible for capitalisation have been expensed in the period incurred and are recognised
\n
in 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\n\n\n\n\n\n\n\n\n\n11 Lease agreements
\npoLight has entered into leases with regard to premises and office equipment used in its operations. In Norway (HQ), the Group
\nleases lab facilities, including a clean room, and further offices are leased in Norway, Finland and China. In November 2024, the Group
\nmoved its headquarters from Horten to T\u00f8nsberg. The new premises in Norway comprise 720 m
\n2
\n. The contract expires in October
\n2034, with two options to extend the lease agreement by an additional 5 years each. The value of the right-to-use assets and the
\ncorresponding liability was determined to NOK 10.2 million. Due to the duration of the lease agreement, the options are not assumed
\nto be utilised when determining the lease period, which would have increased 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
\nrelating to office equipment are of 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:
\nLab and office lease agreement
\n\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| At 1 January | \n10 241 | \n2 915 | \n\n\n\n\n\n
\n\n| Additions | \n907 | \n10 324 | \n\n\n\n\n\n
\n\n| Termination of contract | \n0 | \n-1 846 | \n\n\n\n\n\n
\n\n| Depreciation expense | \n-1 057 | \n-1 153 | \n\n\n\n\n\n
\n\n| At 31 December | \n10 091 | \n10 241 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n\n\n\n\n\nSet out below are the carrying amounts of lease liabilities and the movements during the period:
\n\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| At 1 January | \n10 278 | \n3 133 | \n\n\n\n\n\n
\n\n| Additions | \n907 | \n10 324 | \n\n\n\n\n\n
\n\n| Termination of contract | \n0 | \n-2 052 | \n\n\n\n\n\n
\n\n| Interest expense | \n961 | \n252 | \n\n\n\n\n\n
\n\n| Payments | \n-1 675 | \n-1 380 | \n\n\n\n\n\n
\n\n| At 31 December | \n10 470 | \n10 278 | \n\n\n\n\n\n
\n\n| Current, < 1 year | \n783 | \n663 | \n\n\n\n\n\n
\n\n| Non-current | \n9 687 | \n9 615 | \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 had non-cash additions to right-of-use assets and lease liabilities of NOK 0.9 million in 2025 related to the yearly index
\nadjustment of the lease agreement (2024: NOK 10.3 million \u2013 new lease agreement).
\nThe maturity analysis of lease liabilities are disclosed in Note 13.2 Financial liabilities.
\nThe following are the amounts recognised in profit or loss:
\n\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Depreciation expense of right-of-use assets | \n1 057 | \n1 153 | \n\n\n\n\n\n
\n\n| Interest expense on lease liabilities | \n961 | \n252 | \n\n\n\n\n\n
\n\n| Expense relating to short-term leases (included in research and development expenses) | \n561 | \n535 | \n\n\n\n\n\n
\n\n| Expense relating to short-term leases (included in sales and marketing expenses) | \n0 | \n868 | \n\n\n\n\n\n
\n\n| Expense relating to leases of low-value assets (included in administrative expenses) | \n54 | \n47 | \n\n\n\n\n\n
\n\n| Total amount recognised in profit or loss | \n2 634 | \n2 854 | \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 had total cash outflows for leases of NOK 2 291 in 2025 (2024: NOK 2 829).
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag362": {
"value": "\n8 Property, plant and equipment
\n\n
\n\n\n | \nLeasehold | \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) | \nimprovements | \nEquipment | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cost at 1 January 2024 | \n1 248 | \n22 123 | \n23 371 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Additions | \n27 | \n2 375 | \n2 402 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Disposals at cost | \n-68 | \n-91 | \n-159 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Foreign currency translation effect | \n0 | \n109 | \n109 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cost at 31 December 2024 | \n1 207 | \n24 516 | \n25 723 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated depreciation and impairment losses at 1 January 2024 | \n-598 | \n-13 533 | \n-14 131 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation | \n-249 | \n-1 811 | \n-2 060 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Impairment losses | \n0 | \n-26 | \n-26 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated depreciation and impairment losses disposals | \n41 | \n91 | \n132 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Effect of changes in foreign exchange | \n0 | \n-79 | \n-79 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated depreciation and impairment losses at 31 December 2024 | \n-805 | \n-15 359 | \n-16 164 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net book value at 31 December 2024 | \n402 | \n9 157 | \n9 559 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n\n\n | \nLeasehold | \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) | \nimprovements | \nEquipment | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cost at 1 January 2025 | \n1 207 | \n24 516 | \n25 723 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Additions | \n0 | \n1 681 | \n1 681 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Disposals at cost | \n0 | \n-90 | \n-90 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Foreign currency translation effect | \n0 | \n10 | \n10 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cost at 31 December 2025 | \n1 207 | \n26 117 | \n27 324 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated depreciation and impairment losses at 1 January 2025 | \n-805 | \n-15 359 | \n-16 164 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Depreciation | \n-243 | \n-2 274 | \n-2 517 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated depreciation and impairment losses disposals | \n0 | \n49 | \n49 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Effect of changes in foreign exchange | \n0 | \n-10 | \n-10 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated depreciation and impairment losses at 31 December 2025 | \n-1 048 | \n-17 593 | \n-18 641 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net book value at 31 December | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2025 | \n159 | \n8 524 | \n8 683 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Estimated useful lives | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (years) | \n1) | \n3-7 | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n1) Modifications and upgrades in leased premises are depreciated over the leasing period.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n9 Intangible assets
\n\n
\n\n\n | \nDevelopment costs | \nSoftware | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (in NOK 000) | \nand TLens patents | \nlicense | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cost at 1 January 2024 | \n78 184 | \n181 | \n78 365 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cost at 31 December 2024 | \n78 184 | \n181 | \n78 365 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated amortisation and impairment losses at 1 January 2024 | \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| Amortisation | \n-7 275 | \n0 | \n-7 275 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated amortisation and impairment losses at 31 December 2024 | \n-67 879 | \n-181 | \n-68 060 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net book value at 31 December 2024 | \n10 306 | \n0 | \n10 306 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n\n\n | \nDevelopment costs | \nSoftware | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (in NOK 000) | \nand TLens patents | \nlicense | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cost at 1 January 2025 | \n78 184 | \n181 | \n78 365 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Disposals | \n0 | \n-110 | \n-110 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cost at 31 December 2025 | \n78 184 | \n71 | \n78 255 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated amortisation and impairment losses at 1 January 2025 | \n-67 879 | \n-181 | \n-68 059 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Amortisation | \n-7 275 | \n0 | \n-7 275 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Disposals | \n0 | \n110 | \n110 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated amortisation and impairment losses at 31 December | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2025 | \n-75 153 | \n-71 | \n-75 224 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net book value at 31 December 2025 | \n3 031 | \n0 | \n3 031 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\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 in the second quarter of 2019 as it became ready for
\ncommercial shipments. The useful lives are deemed to be 7 years which correlates with the remaining number of years of the first
\npatent.
\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\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
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n | \nCarrying amount | \n | \n | \n\n\n\n\n\n
\n\n | \nbefore | \nCarrying amount | \nAccumulated net | \n\n\n\n\n\n
\n\n| (in NOK 000) | \nimpairment | \nafter impairment | \nimpairment loss | \n\n\n\n\n\n
\n\n| CGU: TLens\u00ae technology platform | \n | \n | \n | \n\n\n\n\n\n
\n\n| At 31 December 2024 | \n28 586 | \n10 306 | \n18 280 | \n\n\n\n\n\n
\n\n| At 31 December 2025 | \n21 311 | \n3 031 | \n18 280 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\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, many design-wins have been achieved. The first smartphone design-win was achieved in January
\n2023. poLight has also achieved design-wins in barcode and machine vision, augmented / mixed reality (AR/MR) and healthcare
\nproducts.
\nThe company has one major asset, the TLens\u00ae technology platform, and management has evaluated that the Group as a whole
\nconstitutes one CGU for impairment testing. The remaining carrying value of development costs are NOK 3.0 million and are related
\nto TLens\u00ae technology platform. Indicators of impairment of the TLens \u00ae technology platform have been reviewed, and none identified.
\nTLens\u00ae Platinum, a larger version of the TLens\u00ae, is still under development. Engineering samples have been produced and tested by
\nsome potential customers. However, efforts to prepare TLens\u00ae Platinum for mass production have been put on hold until the product
\nis closer to the anticipated market breakthrough. In December 2019, a management assessment was made and an impairment charge
\nof NOK 18.3 million was recognised with respect to this product, reducing the carrying amount to NOK 0. This variant of the TLens\u00ae
\nis still on the technological roadmap, and will be continued when the product has sufficient customer commitment.
\nIn addition, management considers that the equity value of the company is an indication of the fair value of the CGU. The company\u2019s
\nshares are listed on Oslo Stock Exchange and fair value is estimated on the basis of the observed share price. The fair value
\nmeasurement is categorised in level 2 of the fair value hierarchy in accordance with IFRS 13. There 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": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag363": {
"value": "\n
\n\n
\n
\n
9 Intangible assets
\n
\n
\n\n\n | \nDevelopment costs | \nSoftware | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (in NOK 000) | \nand TLens patents | \nlicense | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cost at 1 January 2024 | \n78 184 | \n181 | \n78 365 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cost at 31 December 2024 | \n78 184 | \n181 | \n78 365 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated amortisation and impairment losses at 1 January 2024 | \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| Amortisation | \n-7 275 | \n0 | \n-7 275 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated amortisation and impairment losses at 31 December 2024 | \n-67 879 | \n-181 | \n-68 060 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net book value at 31 December 2024 | \n10 306 | \n0 | \n10 306 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
\n
\n\n\n | \nDevelopment costs | \nSoftware | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| (in NOK 000) | \nand TLens patents | \nlicense | \nTotal | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cost at 1 January 2025 | \n78 184 | \n181 | \n78 365 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Disposals | \n0 | \n-110 | \n-110 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Cost at 31 December 2025 | \n78 184 | \n71 | \n78 255 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated amortisation and impairment losses at 1 January 2025 | \n-67 879 | \n-181 | \n-68 059 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Amortisation | \n-7 275 | \n0 | \n-7 275 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Disposals | \n0 | \n110 | \n110 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Accumulated amortisation and impairment losses at 31 December | \n | \n | \n | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| 2025 | \n-75 153 | \n-71 | \n-75 224 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n| Net book value at 31 December 2025 | \n3 031 | \n0 | \n3 031 | \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n
Intangible assets with finite useful lives, are amortised systematically over their estimated useful lives, ranging between 3 and 7 years.
\n
In 2008/2009, poLight acquired the core patents of the TLens\u00ae technology for NOK 5 million. The patents were granted in 10 different
\n
countries in 2006. poLight has since invested substantial resources in research and product development of the TLens\u00ae.
\n
poLight started amortising capitalised development costs for TLens Silver in the second quarter of 2019 as it became ready for
\n
commercial shipments. The useful lives are deemed to be 7 years which correlates with the remaining number of years of the first
\n
patent.
\n
Research and development costs that are not eligible for capitalisation have been expensed in the period incurred and are recognised
\n
in 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\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n
\n
10 Development costs
\n
The part of poLight\u2019s IP (intellectual property) that is recognised as an intangible asset is the fundamental TLens\u00ae technology, which
\n
can become a component in smartphones, wearables, augmented reality and various medical equipment, as well as a wide range of
\n
industrial applications, such as barcode readers and machine vision/sensor applications.
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\n
\n
\n
\n
\n\n\n | \nCarrying amount | \n | \n | \n\n\n\n\n\n
\n\n | \nbefore | \nCarrying amount | \nAccumulated net | \n\n\n\n\n\n
\n\n| (in NOK 000) | \nimpairment | \nafter impairment | \nimpairment loss | \n\n\n\n\n\n
\n\n| CGU: TLens\u00ae technology platform | \n | \n | \n | \n\n\n\n\n\n
\n\n| At 31 December 2024 | \n28 586 | \n10 306 | \n18 280 | \n\n\n\n\n\n
\n\n| At 31 December 2025 | \n21 311 | \n3 031 | \n18 280 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n
The TLens\u00ae technology platform is poLight\u2019s major asset. In January 2020, the first product using TLens Silver was launched within
\n
the consumer market segment: a smartwatch phone for children, with a main camera with an advanced autofocus (AF) function
\n
delivered by poLight. Since then, many design-wins have been achieved. The first smartphone design-win was achieved in January
\n
2023. poLight has also achieved design-wins in barcode and machine vision, augmented / mixed reality (AR/MR) and healthcare
\n
products.
\n
The company has one major asset, the TLens\u00ae technology platform, and management has evaluated that the Group as a whole
\n
constitutes one CGU for impairment testing. The remaining carrying value of development costs are NOK 3.0 million and are related
\n
to TLens\u00ae technology platform. Indicators of impairment of the TLens \u00ae technology platform have been reviewed, and none identified.
\n
TLens\u00ae Platinum, a larger version of the TLens\u00ae, is still under development. Engineering samples have been produced and tested by
\n
some potential customers. However, efforts to prepare TLens\u00ae Platinum for mass production have been put on hold until the product
\n
is closer to the anticipated market breakthrough. In December 2019, a management assessment was made and an impairment charge
\n
of NOK 18.3 million was recognised with respect to this product, reducing the carrying amount to NOK 0. This variant of the TLens\u00ae
\n
is still on the technological roadmap, and will be continued when the product has sufficient customer commitment.
\n
In addition, management considers that the equity value of the company is an indication of the fair value of the CGU. The company\u2019s
\n
shares are listed on Oslo Stock Exchange and fair value is estimated on the basis of the observed share price. The fair value
\n
measurement is categorised in level 2 of the fair value hierarchy in accordance with IFRS 13. There is considerable headroom between
\n
the 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",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag291": {
"value": "\n
\n\n
11 Lease agreements
\n
poLight has entered into leases with regard to premises and office equipment used in its operations. In Norway (HQ), the Group
\n
leases lab facilities, including a clean room, and further offices are leased in Norway, Finland and China. In November 2024, the Group
\n
moved its headquarters from Horten to T\u00f8nsberg. The new premises in Norway comprise 720 m
\n
2
\n
. The contract expires in October
\n
2034, with two options to extend the lease agreement by an additional 5 years each. The value of the right-to-use assets and the
\n
corresponding liability was determined to NOK 10.2 million. Due to the duration of the lease agreement, the options are not assumed
\n
to be utilised when determining the lease period, which would have increased the lease assets and liabilities.
\n
The office lease terms in Finland and China are terminable by both lessee and lessor with twelve months\u2019 notice or less. The leases
\n
relating to office equipment are of low value. The Group applies the \u2018short-term lease\u2019 and \u2018lease of low-value assets\u2019 recognition
\n
exemptions for these leases.
\n
Set out below are the carrying amounts of right-of-use assets recognised and the movements during the period:
\n
Lab and office lease agreement
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| At 1 January | \n10 241 | \n2 915 | \n\n\n\n\n\n
\n\n| Additions | \n907 | \n10 324 | \n\n\n\n\n\n
\n\n| Termination of contract | \n0 | \n-1 846 | \n\n\n\n\n\n
\n\n| Depreciation expense | \n-1 057 | \n-1 153 | \n\n\n\n\n\n
\n\n| At 31 December | \n10 091 | \n10 241 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n
\n\n\n\n\n
\n\n\n\n\n\n
\n\n
Set out below are the carrying amounts of lease liabilities and the movements during the period:
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| At 1 January | \n10 278 | \n3 133 | \n\n\n\n\n\n
\n\n| Additions | \n907 | \n10 324 | \n\n\n\n\n\n
\n\n| Termination of contract | \n0 | \n-2 052 | \n\n\n\n\n\n
\n\n| Interest expense | \n961 | \n252 | \n\n\n\n\n\n
\n\n| Payments | \n-1 675 | \n-1 380 | \n\n\n\n\n\n
\n\n| At 31 December | \n10 470 | \n10 278 | \n\n\n\n\n\n
\n\n| Current, < 1 year | \n783 | \n663 | \n\n\n\n\n\n
\n\n| Non-current | \n9 687 | \n9 615 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n
The Group had non-cash additions to right-of-use assets and lease liabilities of NOK 0.9 million in 2025 related to the yearly index
\n
adjustment of the lease agreement (2024: NOK 10.3 million \u2013 new lease agreement).
\n
The maturity analysis of lease liabilities are disclosed in Note 13.2 Financial liabilities.
\n
The following are the amounts recognised in profit or loss:
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Depreciation expense of right-of-use assets | \n1 057 | \n1 153 | \n\n\n\n\n\n
\n\n| Interest expense on lease liabilities | \n961 | \n252 | \n\n\n\n\n\n
\n\n| Expense relating to short-term leases (included in research and development expenses) | \n561 | \n535 | \n\n\n\n\n\n
\n\n| Expense relating to short-term leases (included in sales and marketing expenses) | \n0 | \n868 | \n\n\n\n\n\n
\n\n| Expense relating to leases of low-value assets (included in administrative expenses) | \n54 | \n47 | \n\n\n\n\n\n
\n\n| Total amount recognised in profit or loss | \n2 634 | \n2 854 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n
The Group had total cash outflows for leases of NOK 2 291 in 2025 (2024: NOK 2 829).
\n
\n\n\n\n\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLeasesExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag295": {
"value": "\n
\n\n
12 Inventories
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Components; mainly wafers (at cost) | \n78 267 | \n77 472 | \n\n\n\n\n\n
\n\n| Finished goods; lenses and driver ASICs (at cost) | \n5 309 | \n6 312 | \n\n\n\n\n\n
\n\n| Obsolescence provision | \n-30 061 | \n-21 353 | \n\n\n\n\n\n
\n\n| Total inventories at the lower of cost and net realisable value | \n53 515 | \n62 431 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n
During 2025, NOK 8.7 million (2024: NOK 6.4 million) was recognised as an obsolescence expense for inventories carried at net
\n
realisable value.
\n
\n\n\n\n\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInventoriesExplanatory",
"language": "en",
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"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag297": {
"value": "\n
\n13 Financial assets and financial liabilities
\n
\n
\n
\n\n
\n
\n
\n
\n
13.1 Financial assets
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Financial assets at amortised cost: | \n | \n | \n\n\n\n\n\n
\n\n| Trade receivables | \n6 697 | \n217 | \n\n\n\n\n\n
\n\n| Grants recognised, not received | \n2 292 | \n1 946 | \n\n\n\n\n\n
\n\n| Other receivables | \n1 002 | \n1 629 | \n\n\n\n\n\n
\n\n| Total financial assets | \n9 991 | \n3 792 | \n\n\n\n\n\n
\n\n| Total current | \n9 991 | \n3 792 | \n\n\n\n\n\n
\n\n| Total non-current | \n0 | \n0 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n
Trade 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
13.2 Financial liabilities
\n
\n
\n\n\n| (in NOK 000) | \nInterest rate | \nMaturity | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Current interest-bearing loans and borrowings: | \n | \n | \n | \n | \n\n\n\n\n\n
\n\n| Lease liabilities (Note 11 Lease agreements) | \n9,9 % | \n< 1 year | \n783 | \n663 | \n\n\n\n\n\n
\n\n| Secured loan, DnB | \n0.99% | \n< 1 year | \n57 | \n57 | \n\n\n\n\n\n
\n\n| Total | \n | \n | \n840 | \n720 | \n\n\n\n\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) | \nInterest rate | \nMaturity | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Non-current interest-bearing loans and borrowings: | \n | \n | \n | \n | \n\n\n\n\n\n
\n\n| Lease liabilities (Note 11 Lease agreements) | \n9,9 % | \n2034 | \n9 687 | \n9 615 | \n\n\n\n\n\n
\n\n| Secured loan, DnB | \n0.99/6.35% | \n2032 | \n311 | \n369 | \n\n\n\n\n\n
\n\n| Total | \n | \n | \n9 998 | \n9 984 | \n\n\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 2024 a company car was bought with car loan from DnB with monthly instalments over 60 months, secured by car mortgage. The
\n
first 36 months annual interest rate of 0.99% is payable. The annual interest rate increases to 6.35% the next 60 months.
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Financial liabilities at amortised cost, other than interest-bearing loans and | \n | \n | \n\n\n\n\n\n
\n\n| borrowings: | \n | \n | \n\n\n\n\n\n
\n\n| Trade payables | \n8 345 | \n6 571 | \n\n\n\n\n\n
\n\n| Other payables | \n9 739 | \n7 017 | \n\n\n\n\n\n
\n\n| Accrued employer\u2019s NICs on share option plan (Note 5.3) | \n3 642 | \n527 | \n\n\n\n\n\n
\n\n| Provisions (Note 17) | \n1 000 | \n7 331 | \n\n\n\n\n\n
\n\n| Total | \n22 725 | \n21 447 | \n\n\n\n\n\n
\n\n| Total current | \n22 725 | \n21 447 | \n\n\n\n\n\n
\n\n| Total non-current | \n0 | \n0 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n
For all the financial liabilities the carry amounts represent a reasonable approximation of fair value.
\n
\n\n\n\n\n
\n
\n\n\n\n\n
\n
\n\n\n\n\n
\n
\n\n\n\n\n
\n
\n\n\n\n\n
\n\n\n\n\n\n
\n
\n
\n
\n\n
\n
\n
\n
\n
\n
\n
\n
\n
Terms 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 2.9 months
\n
\u2022 Accrued employer\u2019s NICs on exercisable share options with remaining contractual life of 4.07 years as at 31 December
\n
2025. 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\n\n\n\n
\n
\n\n\n\n\n
\n
\n
\n
\n
13.3 Financial instruments risk management objectives and policies
\n
poLight\u2019s principal financial assets include trade and other receivables, and cash. poLight\u2019s principal financial liabilities comprise trade
\n
and other payables, lease liabilities and provisions.
\n
poLight is exposed to foreign currency risk, credit risk and liquidity risk. The Executive Management oversees the management of
\n
these risks.
\n
\n
\n
\n
Foreign currency risk
\n
Trade receivables, trade payables and inventory; poLight\u2019s contracts with the suppliers of the actuator and the assembly of the
\n
TLens\u00ae, are denominated in USD. Foreign currency risk will be mitigated by entering sales contracts in USD or using hedging
\n
instruments. The Group had not entered into any hedging instruments as at 31 December 2025.
\n
Research and development (\u201cR&D\u201d); a significant part of the R&D expenses is in foreign currency. Services from subsidiaries are
\n
invoiced in EUR and development programs at manufacturing partners are invoiced in USD. These activities have not been hedged
\n
by entering into forward exchange rate contracts or other as of today.
\n
Since the monetary assets and liabilities in foreign currency, as at 31. December mainly consists of trade payables and receivables
\n
which are naturally hedged for the most part, any change in exchange rates will not have a material impact on the profit before tax,
\n
nor the equity.
\n
\n\n\n\n\n
\n
\n\n\n\n\n
\n
\n
Credit risk
\n
Credit risk is the risk that a counterparty will not meet its obligations under a financial instrument or customer contract, leading to a
\n
financial loss. poLight is exposed to credit risk from its operating activities (primarily trade receivables) and from its financing
\n
activities, including deposits with banks and financial institutions, foreign exchange transactions and other financial instruments.
\n
Historically, no bad debt has been recognised and since the trade receivables, post balance sheet date, have been paid in full, no
\n
provision has been made.
\n
The credit quality of a customer is assessed based on D&B\u2019s credit rating scorecard when deemed necessary. As at 31 December
\n
2025, most of other receivables consisted of government grants with low credit risk.
\n
As at 31 December, the ageing analysis of the receivables is as follows:
\n
\n
\n
\n\n\n | \n | \n | \n | \n | \nPast due | \n | \n | \n\n\n\n\n\n
\n\n | \n | \nNot past | \n | \n | \n | \n | \n | \n\n\n\n\n\n
\n\n| (in NOK 000) | \nTotal | \ndue | \n< 30 days | \n30\u201360 days | \n61\u201390 days | \n91\u2013120 days | \n> 120 days | \n\n\n\n\n\n
\n\n| 2025 | \n9 991 | \n7 203 | \n2 719 | \n16 | \n53 | \n0 | \n0 | \n\n\n\n\n\n
\n\n| 2024 | \n3 792 | \n3 764 | \n2 | \n26 | \n0 | \n0 | \n0 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n
Credit risk from balances with banks are mitigated using 15 different Norwegian banks with a deposit less then NOK 25 million each.
\n
Credit quality is assessed and regularly monitored.
\n
\n\n\n\n\n
\n
\n
Liquidity risk and Capital Management
\n
The Group monitors its risk of a shortage of funds using 5 years forecasting model. At year-end, poLight had cash deposits of NOK
\n
284.0 million. Over the next 12 months, the Group\u2019s principal source of liquidity will remain cash generated from financing, equity
\n
\n\n\n\n\n
\n
\n\n\n\n\n
\n\n\n\n\n\n
\n\n
\n
\n
\n
\n
and/or debt, in addition to net cash flows generated from sales. On 4 June and 7 July 2025, the private placement with Q Technologies
\n
Group and oversubscribed subsequent offering generated a total of NOK 209.5 million in net proceeds.
\n
\n
\n
\n
\n
\n
\n
\n
The maturity analysis below shows the remaining contractual maturity of financial liability. The analysis shows contractual
\n
undiscounted cash-flows (i.e., includes interest), and thus differs from the amounts recognised in the statement of financial position.
\n
\n
\n\n\n | \n | \n3 to 12 | \n | \n | \n | \n\n\n\n\n\n
\n\n| (in NOK 000) | \n< 3 months | \nmonths | \n1 to 5 years | \n> 5 years | \nTotal | \n\n\n\n\n\n
\n\n| As at 31. December 2025 | \n | \n | \n | \n | \n | \n\n\n\n\n\n
\n\n| Interest-bearing loans | \n15 | \n46 | \n342 | \n6 | \n410 | \n\n\n\n\n\n
\n\n| Lease liabilities | \n434 | \n1 302 | \n6 924 | \n6 756 | \n15 416 | \n\n\n\n\n\n
\n\n| Trade and other payables | \n18 651 | \n3 074 | \n0 | \n0 | \n21 725 | \n\n\n\n\n\n
\n\n | \n19 101 | \n4 422 | \n7 266 | \n6 762 | \n37 550 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n
\n
\n\n\n | \n | \n3 to 12 | \n | \n | \n | \n\n\n\n\n\n
\n\n| (in NOK 000) | \n< 3 months | \nmonths | \n1 to 5 years | \n> 5 years | \nTotal | \n\n\n\n\n\n
\n\n| As at 31. December 2024 | \n | \n | \n | \n | \n | \n\n\n\n\n\n
\n\n| Interest-bearing loans | \n15 | \n46 | \n342 | \n76 | \n480 | \n\n\n\n\n\n
\n\n| Lease liabilities | \n398 | \n1 192 | \n6 338 | \n7 741 | \n15 668 | \n\n\n\n\n\n
\n\n| Trade andother payables | \n11 764 | \n2 352 | \n0 | \n0 | \n14 116 | \n\n\n\n\n\n
\n\n | \n12 177 | \n3 590 | \n6 680 | \n7 817 | \n30 264 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n\n\n\n\n
\n
\n\n\n\n\n
\n
\n\n\n\n\n
\n
\n\n\n\n\n
\n
\n
\n
The primary objective of the Group\u2019s capital management is to ensure that it maintains a strong credit rating and healthy capital
\n
ratios in order to support its business and maximise shareholder value.
\n
The Group manages its capital structure and makes adjustments to it in light of changes in economic conditions. To maintain or adjust
\n
the capital structure, the Group may issue new shares and/or debt.
\n
The Group monitors cash monthly towards 5-year budgets and forecasts.
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Interest-bearing loans | \n368 | \n426 | \n\n\n\n\n\n
\n\n| Trade and other payables | \n22 725 | \n21 447 | \n\n\n\n\n\n
\n\n| Less: cash and short-term deposits | \n-283 981 | \n-166 752 | \n\n\n\n\n\n
\n\n| Net debt | \n-260 888 | \n-144 879 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
The 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",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
"language": "en",
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"Tag298": {
"value": "\n
\n\n
\n
\n
13.1 Financial assets
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Financial assets at amortised cost: | \n | \n | \n\n\n\n\n\n
\n\n| Trade receivables | \n6 697 | \n217 | \n\n\n\n\n\n
\n\n| Grants recognised, not received | \n2 292 | \n1 946 | \n\n\n\n\n\n
\n\n| Other receivables | \n1 002 | \n1 629 | \n\n\n\n\n\n
\n\n| Total financial assets | \n9 991 | \n3 792 | \n\n\n\n\n\n
\n\n| Total current | \n9 991 | \n3 792 | \n\n\n\n\n\n
\n\n| Total non-current | \n0 | \n0 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n
Trade 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",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
"language": "en",
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"Tag299": {
"value": "\n
\n\n
13.1 Financial assets
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Financial assets at amortised cost: | \n | \n | \n\n\n\n\n\n
\n\n| Trade receivables | \n6 697 | \n217 | \n\n\n\n\n\n
\n\n| Grants recognised, not received | \n2 292 | \n1 946 | \n\n\n\n\n\n
\n\n| Other receivables | \n1 002 | \n1 629 | \n\n\n\n\n\n
\n\n| Total financial assets | \n9 991 | \n3 792 | \n\n\n\n\n\n
\n\n| Total current | \n9 991 | \n3 792 | \n\n\n\n\n\n
\n\n| Total non-current | \n0 | \n0 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n
Trade receivables are non-interest bearing and generally on 30-day terms.
\n
\n\n\n\n\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory",
"language": "en",
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"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
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},
"Tag300": {
"value": "\n13.1 Financial assets
\n\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Financial assets at amortised cost: | \n | \n | \n\n\n\n\n\n
\n\n| Trade receivables | \n6 697 | \n217 | \n\n\n\n\n\n
\n\n| Grants recognised, not received | \n2 292 | \n1 946 | \n\n\n\n\n\n
\n\n| Other receivables | \n1 002 | \n1 629 | \n\n\n\n\n\n
\n\n| Total financial assets | \n9 991 | \n3 792 | \n\n\n\n\n\n
\n\n| Total current | \n9 991 | \n3 792 | \n\n\n\n\n\n
\n\n| Total non-current | \n0 | \n0 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\nTrade receivables are non-interest bearing and generally on 30-day terms.
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory",
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"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
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"Tag301": {
"value": "\n
\n\n
\n
\n
\n
\n
\n
\n
13.2 Financial liabilities
\n
\n
\n\n\n| (in NOK 000) | \nInterest rate | \nMaturity | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Current interest-bearing loans and borrowings: | \n | \n | \n | \n | \n\n\n\n\n\n
\n\n| Lease liabilities (Note 11 Lease agreements) | \n9,9 % | \n< 1 year | \n783 | \n663 | \n\n\n\n\n\n
\n\n| Secured loan, DnB | \n0.99% | \n< 1 year | \n57 | \n57 | \n\n\n\n\n\n
\n\n| Total | \n | \n | \n840 | \n720 | \n\n\n\n\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) | \nInterest rate | \nMaturity | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Non-current interest-bearing loans and borrowings: | \n | \n | \n | \n | \n\n\n\n\n\n
\n\n| Lease liabilities (Note 11 Lease agreements) | \n9,9 % | \n2034 | \n9 687 | \n9 615 | \n\n\n\n\n\n
\n\n| Secured loan, DnB | \n0.99/6.35% | \n2032 | \n311 | \n369 | \n\n\n\n\n\n
\n\n| Total | \n | \n | \n9 998 | \n9 984 | \n\n\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 2024 a company car was bought with car loan from DnB with monthly instalments over 60 months, secured by car mortgage. The
\n
first 36 months annual interest rate of 0.99% is payable. The annual interest rate increases to 6.35% the next 60 months.
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Financial liabilities at amortised cost, other than interest-bearing loans and | \n | \n | \n\n\n\n\n\n
\n\n| borrowings: | \n | \n | \n\n\n\n\n\n
\n\n| Trade payables | \n8 345 | \n6 571 | \n\n\n\n\n\n
\n\n| Other payables | \n9 739 | \n7 017 | \n\n\n\n\n\n
\n\n| Accrued employer\u2019s NICs on share option plan (Note 5.3) | \n3 642 | \n527 | \n\n\n\n\n\n
\n\n| Provisions (Note 17) | \n1 000 | \n7 331 | \n\n\n\n\n\n
\n\n| Total | \n22 725 | \n21 447 | \n\n\n\n\n\n
\n\n| Total current | \n22 725 | \n21 447 | \n\n\n\n\n\n
\n\n| Total non-current | \n0 | \n0 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n
For all the financial liabilities the carry amounts represent a reasonable approximation of fair value.
\n
\n\n\n\n\n
\n
\n\n\n\n\n
\n
\n\n\n\n\n
\n
\n\n\n\n\n
\n\n\n\n\n\n
\n\n
\n
\n
\n
\n
\n
\n
Terms 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 2.9 months
\n
\u2022 Accrued employer\u2019s NICs on exercisable share options with remaining contractual life of 4.07 years as at 31 December
\n
2025. 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\n\n\n\n
\n\n\n\n\n\n
\n\n
\n
\n
\n
\n
The maturity analysis below shows the remaining contractual maturity of financial liability. The analysis shows contractual
\n
undiscounted cash-flows (i.e., includes interest), and thus differs from the amounts recognised in the statement of financial position.
\n
\n
\n\n\n | \n | \n3 to 12 | \n | \n | \n | \n\n\n\n\n\n
\n\n| (in NOK 000) | \n< 3 months | \nmonths | \n1 to 5 years | \n> 5 years | \nTotal | \n\n\n\n\n\n
\n\n| As at 31. December 2025 | \n | \n | \n | \n | \n | \n\n\n\n\n\n
\n\n| Interest-bearing loans | \n15 | \n46 | \n342 | \n6 | \n410 | \n\n\n\n\n\n
\n\n| Lease liabilities | \n434 | \n1 302 | \n6 924 | \n6 756 | \n15 416 | \n\n\n\n\n\n
\n\n| Trade and other payables | \n18 651 | \n3 074 | \n0 | \n0 | \n21 725 | \n\n\n\n\n\n
\n\n | \n19 101 | \n4 422 | \n7 266 | \n6 762 | \n37 550 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n
\n
\n\n\n | \n | \n3 to 12 | \n | \n | \n | \n\n\n\n\n\n
\n\n| (in NOK 000) | \n< 3 months | \nmonths | \n1 to 5 years | \n> 5 years | \nTotal | \n\n\n\n\n\n
\n\n| As at 31. December 2024 | \n | \n | \n | \n | \n | \n\n\n\n\n\n
\n\n| Interest-bearing loans | \n15 | \n46 | \n342 | \n76 | \n480 | \n\n\n\n\n\n
\n\n| Lease liabilities | \n398 | \n1 192 | \n6 338 | \n7 741 | \n15 668 | \n\n\n\n\n\n
\n\n| Trade andother payables | \n11 764 | \n2 352 | \n0 | \n0 | \n14 116 | \n\n\n\n\n\n
\n\n | \n12 177 | \n3 590 | \n6 680 | \n7 817 | \n30 264 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\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:DisclosureOfTradeAndOtherPayablesExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag302": {
"value": "\n
\n\n
\n
\n
\n
\n
13.2 Financial liabilities
\n
\n
\n\n\n| (in NOK 000) | \nInterest rate | \nMaturity | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Current interest-bearing loans and borrowings: | \n | \n | \n | \n | \n\n\n\n\n\n
\n\n| Lease liabilities (Note 11 Lease agreements) | \n9,9 % | \n< 1 year | \n783 | \n663 | \n\n\n\n\n\n
\n\n| Secured loan, DnB | \n0.99% | \n< 1 year | \n57 | \n57 | \n\n\n\n\n\n
\n\n| Total | \n | \n | \n840 | \n720 | \n\n\n\n\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) | \nInterest rate | \nMaturity | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Non-current interest-bearing loans and borrowings: | \n | \n | \n | \n | \n\n\n\n\n\n
\n\n| Lease liabilities (Note 11 Lease agreements) | \n9,9 % | \n2034 | \n9 687 | \n9 615 | \n\n\n\n\n\n
\n\n| Secured loan, DnB | \n0.99/6.35% | \n2032 | \n311 | \n369 | \n\n\n\n\n\n
\n\n| Total | \n | \n | \n9 998 | \n9 984 | \n\n\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 2024 a company car was bought with car loan from DnB with monthly instalments over 60 months, secured by car mortgage. The
\n
first 36 months annual interest rate of 0.99% is payable. The annual interest rate increases to 6.35% the next 60 months.
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Financial liabilities at amortised cost, other than interest-bearing loans and | \n | \n | \n\n\n\n\n\n
\n\n| borrowings: | \n | \n | \n\n\n\n\n\n
\n\n| Trade payables | \n8 345 | \n6 571 | \n\n\n\n\n\n
\n\n| Other payables | \n9 739 | \n7 017 | \n\n\n\n\n\n
\n\n| Accrued employer\u2019s NICs on share option plan (Note 5.3) | \n3 642 | \n527 | \n\n\n\n\n\n
\n\n| Provisions (Note 17) | \n1 000 | \n7 331 | \n\n\n\n\n\n
\n\n| Total | \n22 725 | \n21 447 | \n\n\n\n\n\n
\n\n| Total current | \n22 725 | \n21 447 | \n\n\n\n\n\n
\n\n| Total non-current | \n0 | \n0 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n
For all the financial liabilities the carry amounts represent a reasonable approximation of fair value.
\n
\n\n\n\n\n
\n
\n\n\n\n\n
\n
\n\n\n\n\n
\n\n\n\n\n\n
\n\n
\n
\n
\n
\n
Terms 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 2.9 months
\n
\u2022 Accrued employer\u2019s NICs on exercisable share options with remaining contractual life of 4.07 years as at 31 December
\n
2025. 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\n\n\n\n
\n\n
\n
\n
The maturity analysis below shows the remaining contractual maturity of financial liability. The analysis shows contractual
\n
undiscounted cash-flows (i.e., includes interest), and thus differs from the amounts recognised in the statement of financial position.
\n
\n
\n\n\n | \n | \n3 to 12 | \n | \n | \n | \n\n\n\n\n\n
\n\n| (in NOK 000) | \n< 3 months | \nmonths | \n1 to 5 years | \n> 5 years | \nTotal | \n\n\n\n\n\n
\n\n| As at 31. December 2025 | \n | \n | \n | \n | \n | \n\n\n\n\n\n
\n\n| Interest-bearing loans | \n15 | \n46 | \n342 | \n6 | \n410 | \n\n\n\n\n\n
\n\n| Lease liabilities | \n434 | \n1 302 | \n6 924 | \n6 756 | \n15 416 | \n\n\n\n\n\n
\n\n| Trade and other payables | \n18 651 | \n3 074 | \n0 | \n0 | \n21 725 | \n\n\n\n\n\n
\n\n | \n19 101 | \n4 422 | \n7 266 | \n6 762 | \n37 550 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n
\n
\n\n\n | \n | \n3 to 12 | \n | \n | \n | \n\n\n\n\n\n
\n\n| (in NOK 000) | \n< 3 months | \nmonths | \n1 to 5 years | \n> 5 years | \nTotal | \n\n\n\n\n\n
\n\n| As at 31. December 2024 | \n | \n | \n | \n | \n | \n\n\n\n\n\n
\n\n| Interest-bearing loans | \n15 | \n46 | \n342 | \n76 | \n480 | \n\n\n\n\n\n
\n\n| Lease liabilities | \n398 | \n1 192 | \n6 338 | \n7 741 | \n15 668 | \n\n\n\n\n\n
\n\n| Trade andother payables | \n11 764 | \n2 352 | \n0 | \n0 | \n14 116 | \n\n\n\n\n\n
\n\n | \n12 177 | \n3 590 | \n6 680 | \n7 817 | \n30 264 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\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:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag303": {
"value": "\n
\n\n
\n
\n
13.2 Financial liabilities
\n
\n
\n\n\n| (in NOK 000) | \nInterest rate | \nMaturity | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Current interest-bearing loans and borrowings: | \n | \n | \n | \n | \n\n\n\n\n\n
\n\n| Lease liabilities (Note 11 Lease agreements) | \n9,9 % | \n< 1 year | \n783 | \n663 | \n\n\n\n\n\n
\n\n| Secured loan, DnB | \n0.99% | \n< 1 year | \n57 | \n57 | \n\n\n\n\n\n
\n\n| Total | \n | \n | \n840 | \n720 | \n\n\n\n\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) | \nInterest rate | \nMaturity | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Non-current interest-bearing loans and borrowings: | \n | \n | \n | \n | \n\n\n\n\n\n
\n\n| Lease liabilities (Note 11 Lease agreements) | \n9,9 % | \n2034 | \n9 687 | \n9 615 | \n\n\n\n\n\n
\n\n| Secured loan, DnB | \n0.99/6.35% | \n2032 | \n311 | \n369 | \n\n\n\n\n\n
\n\n| Total | \n | \n | \n9 998 | \n9 984 | \n\n\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 2024 a company car was bought with car loan from DnB with monthly instalments over 60 months, secured by car mortgage. The
\n
first 36 months annual interest rate of 0.99% is payable. The annual interest rate increases to 6.35% the next 60 months.
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Financial liabilities at amortised cost, other than interest-bearing loans and | \n | \n | \n\n\n\n\n\n
\n\n| borrowings: | \n | \n | \n\n\n\n\n\n
\n\n| Trade payables | \n8 345 | \n6 571 | \n\n\n\n\n\n
\n\n| Other payables | \n9 739 | \n7 017 | \n\n\n\n\n\n
\n\n| Accrued employer\u2019s NICs on share option plan (Note 5.3) | \n3 642 | \n527 | \n\n\n\n\n\n
\n\n| Provisions (Note 17) | \n1 000 | \n7 331 | \n\n\n\n\n\n
\n\n| Total | \n22 725 | \n21 447 | \n\n\n\n\n\n
\n\n| Total current | \n22 725 | \n21 447 | \n\n\n\n\n\n
\n\n| Total non-current | \n0 | \n0 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n
For all the financial liabilities the carry amounts represent a reasonable approximation of fair value.
\n
\n\n\n\n\n
\n
\n\n\n\n\n
\n\n\n\n\n\n
\n\n
\n
\n
Terms 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 2.9 months
\n
\u2022 Accrued employer\u2019s NICs on exercisable share options with remaining contractual life of 4.07 years as at 31 December
\n
2025. 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
The maturity analysis below shows the remaining contractual maturity of financial liability. The analysis shows contractual
\n
undiscounted cash-flows (i.e., includes interest), and thus differs from the amounts recognised in the statement of financial position.
\n
\n
\n\n\n | \n | \n3 to 12 | \n | \n | \n | \n\n\n\n\n\n
\n\n| (in NOK 000) | \n< 3 months | \nmonths | \n1 to 5 years | \n> 5 years | \nTotal | \n\n\n\n\n\n
\n\n| As at 31. December 2025 | \n | \n | \n | \n | \n | \n\n\n\n\n\n
\n\n| Interest-bearing loans | \n15 | \n46 | \n342 | \n6 | \n410 | \n\n\n\n\n\n
\n\n| Lease liabilities | \n434 | \n1 302 | \n6 924 | \n6 756 | \n15 416 | \n\n\n\n\n\n
\n\n| Trade and other payables | \n18 651 | \n3 074 | \n0 | \n0 | \n21 725 | \n\n\n\n\n\n
\n\n | \n19 101 | \n4 422 | \n7 266 | \n6 762 | \n37 550 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n
\n
\n\n\n | \n | \n3 to 12 | \n | \n | \n | \n\n\n\n\n\n
\n\n| (in NOK 000) | \n< 3 months | \nmonths | \n1 to 5 years | \n> 5 years | \nTotal | \n\n\n\n\n\n
\n\n| As at 31. December 2024 | \n | \n | \n | \n | \n | \n\n\n\n\n\n
\n\n| Interest-bearing loans | \n15 | \n46 | \n342 | \n76 | \n480 | \n\n\n\n\n\n
\n\n| Lease liabilities | \n398 | \n1 192 | \n6 338 | \n7 741 | \n15 668 | \n\n\n\n\n\n
\n\n| Trade andother payables | \n11 764 | \n2 352 | \n0 | \n0 | \n14 116 | \n\n\n\n\n\n
\n\n | \n12 177 | \n3 590 | \n6 680 | \n7 817 | \n30 264 | \n\n\n\n\n\n
\n\n\n\n\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:DisclosureOfOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag304": {
"value": "\n
\n\n
13.2 Financial liabilities
\n
\n
\n\n\n| (in NOK 000) | \nInterest rate | \nMaturity | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Current interest-bearing loans and borrowings: | \n | \n | \n | \n | \n\n\n\n\n\n
\n\n| Lease liabilities (Note 11 Lease agreements) | \n9,9 % | \n< 1 year | \n783 | \n663 | \n\n\n\n\n\n
\n\n| Secured loan, DnB | \n0.99% | \n< 1 year | \n57 | \n57 | \n\n\n\n\n\n
\n\n| Total | \n | \n | \n840 | \n720 | \n\n\n\n\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) | \nInterest rate | \nMaturity | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Non-current interest-bearing loans and borrowings: | \n | \n | \n | \n | \n\n\n\n\n\n
\n\n| Lease liabilities (Note 11 Lease agreements) | \n9,9 % | \n2034 | \n9 687 | \n9 615 | \n\n\n\n\n\n
\n\n| Secured loan, DnB | \n0.99/6.35% | \n2032 | \n311 | \n369 | \n\n\n\n\n\n
\n\n| Total | \n | \n | \n9 998 | \n9 984 | \n\n\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 2024 a company car was bought with car loan from DnB with monthly instalments over 60 months, secured by car mortgage. The
\n
first 36 months annual interest rate of 0.99% is payable. The annual interest rate increases to 6.35% the next 60 months.
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Financial liabilities at amortised cost, other than interest-bearing loans and | \n | \n | \n\n\n\n\n\n
\n\n| borrowings: | \n | \n | \n\n\n\n\n\n
\n\n| Trade payables | \n8 345 | \n6 571 | \n\n\n\n\n\n
\n\n| Other payables | \n9 739 | \n7 017 | \n\n\n\n\n\n
\n\n| Accrued employer\u2019s NICs on share option plan (Note 5.3) | \n3 642 | \n527 | \n\n\n\n\n\n
\n\n| Provisions (Note 17) | \n1 000 | \n7 331 | \n\n\n\n\n\n
\n\n| Total | \n22 725 | \n21 447 | \n\n\n\n\n\n
\n\n| Total current | \n22 725 | \n21 447 | \n\n\n\n\n\n
\n\n| Total non-current | \n0 | \n0 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n
For all the financial liabilities the carry amounts represent a reasonable approximation of fair value.
\n
\n\n\n\n\n
\n\n\n\n\n\n
\n\n
Terms 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 2.9 months
\n
\u2022 Accrued employer\u2019s NICs on exercisable share options with remaining contractual life of 4.07 years as at 31 December
\n
2025. See Note 5.3 Employee benefits expense for additional information.
\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\n
\n\n\n | \n | \n3 to 12 | \n | \n | \n | \n\n\n\n\n\n
\n\n| (in NOK 000) | \n< 3 months | \nmonths | \n1 to 5 years | \n> 5 years | \nTotal | \n\n\n\n\n\n
\n\n| As at 31. December 2025 | \n | \n | \n | \n | \n | \n\n\n\n\n\n
\n\n| Interest-bearing loans | \n15 | \n46 | \n342 | \n6 | \n410 | \n\n\n\n\n\n
\n\n| Lease liabilities | \n434 | \n1 302 | \n6 924 | \n6 756 | \n15 416 | \n\n\n\n\n\n
\n\n| Trade and other payables | \n18 651 | \n3 074 | \n0 | \n0 | \n21 725 | \n\n\n\n\n\n
\n\n | \n19 101 | \n4 422 | \n7 266 | \n6 762 | \n37 550 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n\n
\n\n\n | \n | \n3 to 12 | \n | \n | \n | \n\n\n\n\n\n
\n\n| (in NOK 000) | \n< 3 months | \nmonths | \n1 to 5 years | \n> 5 years | \nTotal | \n\n\n\n\n\n
\n\n| As at 31. December 2024 | \n | \n | \n | \n | \n | \n\n\n\n\n\n
\n\n| Interest-bearing loans | \n15 | \n46 | \n342 | \n76 | \n480 | \n\n\n\n\n\n
\n\n| Lease liabilities | \n398 | \n1 192 | \n6 338 | \n7 741 | \n15 668 | \n\n\n\n\n\n
\n\n| Trade andother payables | \n11 764 | \n2 352 | \n0 | \n0 | \n14 116 | \n\n\n\n\n\n
\n\n | \n12 177 | \n3 590 | \n6 680 | \n7 817 | \n30 264 | \n\n\n\n\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:DisclosureOfOtherCurrentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag305": {
"value": "\n13.2 Financial liabilities
\n\n
\n\n\n| (in NOK 000) | \nInterest rate | \nMaturity | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Current interest-bearing loans and borrowings: | \n | \n | \n | \n | \n\n\n\n\n\n
\n\n| Lease liabilities (Note 11 Lease agreements) | \n9,9 % | \n< 1 year | \n783 | \n663 | \n\n\n\n\n\n
\n\n| Secured loan, DnB | \n0.99% | \n< 1 year | \n57 | \n57 | \n\n\n\n\n\n
\n\n| Total | \n | \n | \n840 | \n720 | \n\n\n\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) | \nInterest rate | \nMaturity | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Non-current interest-bearing loans and borrowings: | \n | \n | \n | \n | \n\n\n\n\n\n
\n\n| Lease liabilities (Note 11 Lease agreements) | \n9,9 % | \n2034 | \n9 687 | \n9 615 | \n\n\n\n\n\n
\n\n| Secured loan, DnB | \n0.99/6.35% | \n2032 | \n311 | \n369 | \n\n\n\n\n\n
\n\n| Total | \n | \n | \n9 998 | \n9 984 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\nIn 2024 a company car was bought with car loan from DnB with monthly instalments over 60 months, secured by car mortgage. The
\nfirst 36 months annual interest rate of 0.99% is payable. The annual interest rate increases to 6.35% the next 60 months.
\n\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Financial liabilities at amortised cost, other than interest-bearing loans and | \n | \n | \n\n\n\n\n\n
\n\n| borrowings: | \n | \n | \n\n\n\n\n\n
\n\n| Trade payables | \n8 345 | \n6 571 | \n\n\n\n\n\n
\n\n| Other payables | \n9 739 | \n7 017 | \n\n\n\n\n\n
\n\n| Accrued employer\u2019s NICs on share option plan (Note 5.3) | \n3 642 | \n527 | \n\n\n\n\n\n
\n\n| Provisions (Note 17) | \n1 000 | \n7 331 | \n\n\n\n\n\n
\n\n| Total | \n22 725 | \n21 447 | \n\n\n\n\n\n
\n\n| Total current | \n22 725 | \n21 447 | \n\n\n\n\n\n
\n\n| Total non-current | \n0 | \n0 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\nFor all the financial liabilities the carry amounts represent a reasonable approximation of fair value.
\n
\n\n\n\n\n\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 2.9 months
\n\u2022 Accrued employer\u2019s NICs on exercisable share options with remaining contractual life of 4.07 years as at 31 December
\n2025. See Note 5.3 Employee benefits expense for additional information.
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBorrowingsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag312": {
"value": "\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
Foreign currency risk
\n
Trade receivables, trade payables and inventory; poLight\u2019s contracts with the suppliers of the actuator and the assembly of the
\n
TLens\u00ae, are denominated in USD. Foreign currency risk will be mitigated by entering sales contracts in USD or using hedging
\n
instruments. The Group had not entered into any hedging instruments as at 31 December 2025.
\n
Research and development (\u201cR&D\u201d); a significant part of the R&D expenses is in foreign currency. Services from subsidiaries are
\n
invoiced in EUR and development programs at manufacturing partners are invoiced in USD. These activities have not been hedged
\n
by entering into forward exchange rate contracts or other as of today.
\n
Since the monetary assets and liabilities in foreign currency, as at 31. December mainly consists of trade payables and receivables
\n
which are naturally hedged for the most part, any change in exchange rates will not have a material impact on the profit before tax,
\n
nor the equity.
\n
\n\n\n\n\n
\n
\n\n\n\n\n
\n
Credit risk
\n
Credit risk is the risk that a counterparty will not meet its obligations under a financial instrument or customer contract, leading to a
\n
financial loss. poLight is exposed to credit risk from its operating activities (primarily trade receivables) and from its financing
\n
activities, including deposits with banks and financial institutions, foreign exchange transactions and other financial instruments.
\n
Historically, no bad debt has been recognised and since the trade receivables, post balance sheet date, have been paid in full, no
\n
provision has been made.
\n
The credit quality of a customer is assessed based on D&B\u2019s credit rating scorecard when deemed necessary. As at 31 December
\n
2025, most of other receivables consisted of government grants with low credit risk.
\n
As at 31 December, the ageing analysis of the receivables is as follows:
\n
\n
\n
\n\n\n | \n | \n | \n | \n | \nPast due | \n | \n | \n\n\n\n\n\n
\n\n | \n | \nNot past | \n | \n | \n | \n | \n | \n\n\n\n\n\n
\n\n| (in NOK 000) | \nTotal | \ndue | \n< 30 days | \n30\u201360 days | \n61\u201390 days | \n91\u2013120 days | \n> 120 days | \n\n\n\n\n\n
\n\n| 2025 | \n9 991 | \n7 203 | \n2 719 | \n16 | \n53 | \n0 | \n0 | \n\n\n\n\n\n
\n\n| 2024 | \n3 792 | \n3 764 | \n2 | \n26 | \n0 | \n0 | \n0 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n
Credit risk from balances with banks are mitigated using 15 different Norwegian banks with a deposit less then NOK 25 million each.
\n
Credit quality is assessed and regularly monitored.
\n
\n\n\n\n\n
\n
Liquidity risk and Capital Management
\n
The Group monitors its risk of a shortage of funds using 5 years forecasting model. At year-end, poLight had cash deposits of NOK
\n
284.0 million. Over the next 12 months, the Group\u2019s principal source of liquidity will remain cash generated from financing, equity
\n
\n\n\n\n\n
\n\n\n\n\n\n
\n\n
\n
\n
and/or debt, in addition to net cash flows generated from sales. On 4 June and 7 July 2025, the private placement with Q Technologies
\n
Group and oversubscribed subsequent offering generated a total of NOK 209.5 million in net proceeds.
\n
\n
\n
\n
\n
\n
\n
\n
The maturity analysis below shows the remaining contractual maturity of financial liability. The analysis shows contractual
\n
undiscounted cash-flows (i.e., includes interest), and thus differs from the amounts recognised in the statement of financial position.
\n
\n
\n\n\n | \n | \n3 to 12 | \n | \n | \n | \n\n\n\n\n\n
\n\n| (in NOK 000) | \n< 3 months | \nmonths | \n1 to 5 years | \n> 5 years | \nTotal | \n\n\n\n\n\n
\n\n| As at 31. December 2025 | \n | \n | \n | \n | \n | \n\n\n\n\n\n
\n\n| Interest-bearing loans | \n15 | \n46 | \n342 | \n6 | \n410 | \n\n\n\n\n\n
\n\n| Lease liabilities | \n434 | \n1 302 | \n6 924 | \n6 756 | \n15 416 | \n\n\n\n\n\n
\n\n| Trade and other payables | \n18 651 | \n3 074 | \n0 | \n0 | \n21 725 | \n\n\n\n\n\n
\n\n | \n19 101 | \n4 422 | \n7 266 | \n6 762 | \n37 550 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n
\n
\n\n\n | \n | \n3 to 12 | \n | \n | \n | \n\n\n\n\n\n
\n\n| (in NOK 000) | \n< 3 months | \nmonths | \n1 to 5 years | \n> 5 years | \nTotal | \n\n\n\n\n\n
\n\n| As at 31. December 2024 | \n | \n | \n | \n | \n | \n\n\n\n\n\n
\n\n| Interest-bearing loans | \n15 | \n46 | \n342 | \n76 | \n480 | \n\n\n\n\n\n
\n\n| Lease liabilities | \n398 | \n1 192 | \n6 338 | \n7 741 | \n15 668 | \n\n\n\n\n\n
\n\n| Trade andother payables | \n11 764 | \n2 352 | \n0 | \n0 | \n14 116 | \n\n\n\n\n\n
\n\n | \n12 177 | \n3 590 | \n6 680 | \n7 817 | \n30 264 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n\n\n\n\n
\n
\n\n\n\n\n
\n
\n\n\n\n\n
\n
\n\n\n\n\n
\n
\n
\n
The primary objective of the Group\u2019s capital management is to ensure that it maintains a strong credit rating and healthy capital
\n
ratios in order to support its business and maximise shareholder value.
\n
The Group manages its capital structure and makes adjustments to it in light of changes in economic conditions. To maintain or adjust
\n
the capital structure, the Group may issue new shares and/or debt.
\n
The Group monitors cash monthly towards 5-year budgets and forecasts.
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Interest-bearing loans | \n368 | \n426 | \n\n\n\n\n\n
\n\n| Trade and other payables | \n22 725 | \n21 447 | \n\n\n\n\n\n
\n\n| Less: cash and short-term deposits | \n-283 981 | \n-166 752 | \n\n\n\n\n\n
\n\n| Net debt | \n-260 888 | \n-144 879 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
The 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",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag313": {
"value": "\n
\n\n
Foreign currency risk
\n
Trade receivables, trade payables and inventory; poLight\u2019s contracts with the suppliers of the actuator and the assembly of the
\n
TLens\u00ae, are denominated in USD. Foreign currency risk will be mitigated by entering sales contracts in USD or using hedging
\n
instruments. The Group had not entered into any hedging instruments as at 31 December 2025.
\n
Research and development (\u201cR&D\u201d); a significant part of the R&D expenses is in foreign currency. Services from subsidiaries are
\n
invoiced in EUR and development programs at manufacturing partners are invoiced in USD. These activities have not been hedged
\n
by entering into forward exchange rate contracts or other as of today.
\n
Since the monetary assets and liabilities in foreign currency, as at 31. December mainly consists of trade payables and receivables
\n
which are naturally hedged for the most part, any change in exchange rates will not have a material impact on the profit before tax,
\n
nor the equity.
\n
\n\n\n\n\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfMarketRiskExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag314": {
"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 2025.
\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:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag315": {
"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.
\nThe credit quality of a customer is assessed based on D&B\u2019s credit rating scorecard when deemed necessary. As at 31 December
\n2025, most 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 | \n | \n | \nPast due | \n | \n | \n\n\n\n\n\n
\n\n | \n | \nNot past | \n | \n | \n | \n | \n | \n\n\n\n\n\n
\n\n| (in NOK 000) | \nTotal | \ndue | \n< 30 days | \n30\u201360 days | \n61\u201390 days | \n91\u2013120 days | \n> 120 days | \n\n\n\n\n\n
\n\n| 2025 | \n9 991 | \n7 203 | \n2 719 | \n16 | \n53 | \n0 | \n0 | \n\n\n\n\n\n
\n\n| 2024 | \n3 792 | \n3 764 | \n2 | \n26 | \n0 | \n0 | \n0 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\nCredit risk from balances with banks are mitigated using 15 different Norwegian banks with a deposit less then NOK 25 million each.
\nCredit quality is assessed and regularly monitored.
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag316": {
"value": "\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
\n284.0 million. Over the next 12 months, the Group\u2019s principal source of liquidity will remain cash generated from financing, equity
\n
\n\n\n\n\n\n
\n
\nand/or debt, in addition to net cash flows generated from sales. On 4 June and 7 July 2025, the private placement with Q Technologies
\nGroup and oversubscribed subsequent offering generated a total of NOK 209.5 million in net proceeds.
\n\n
\n
\n
\n
\n
\n
\n
The maturity analysis below shows the remaining contractual maturity of financial liability. The analysis shows contractual
\n
undiscounted cash-flows (i.e., includes interest), and thus differs from the amounts recognised in the statement of financial position.
\n
\n
\n\n\n | \n | \n3 to 12 | \n | \n | \n | \n\n\n\n\n\n
\n\n| (in NOK 000) | \n< 3 months | \nmonths | \n1 to 5 years | \n> 5 years | \nTotal | \n\n\n\n\n\n
\n\n| As at 31. December 2025 | \n | \n | \n | \n | \n | \n\n\n\n\n\n
\n\n| Interest-bearing loans | \n15 | \n46 | \n342 | \n6 | \n410 | \n\n\n\n\n\n
\n\n| Lease liabilities | \n434 | \n1 302 | \n6 924 | \n6 756 | \n15 416 | \n\n\n\n\n\n
\n\n| Trade and other payables | \n18 651 | \n3 074 | \n0 | \n0 | \n21 725 | \n\n\n\n\n\n
\n\n | \n19 101 | \n4 422 | \n7 266 | \n6 762 | \n37 550 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n
\n
\n\n\n | \n | \n3 to 12 | \n | \n | \n | \n\n\n\n\n\n
\n\n| (in NOK 000) | \n< 3 months | \nmonths | \n1 to 5 years | \n> 5 years | \nTotal | \n\n\n\n\n\n
\n\n| As at 31. December 2024 | \n | \n | \n | \n | \n | \n\n\n\n\n\n
\n\n| Interest-bearing loans | \n15 | \n46 | \n342 | \n76 | \n480 | \n\n\n\n\n\n
\n\n| Lease liabilities | \n398 | \n1 192 | \n6 338 | \n7 741 | \n15 668 | \n\n\n\n\n\n
\n\n| Trade andother payables | \n11 764 | \n2 352 | \n0 | \n0 | \n14 116 | \n\n\n\n\n\n
\n\n | \n12 177 | \n3 590 | \n6 680 | \n7 817 | \n30 264 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n\n\n\n\n
\n
\n\n\n\n\n
\n
\n\n\n\n\n
\n
\n\n\n\n\n
\n\n
The primary objective of the Group\u2019s capital management is to ensure that it maintains a strong credit rating and healthy capital
\n
ratios in order to support its business and maximise shareholder value.
\n
The Group manages its capital structure and makes adjustments to it in light of changes in economic conditions. To maintain or adjust
\n
the capital structure, the Group may issue new shares and/or debt.
\n
The Group monitors cash monthly towards 5-year budgets and forecasts.
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Interest-bearing loans | \n368 | \n426 | \n\n\n\n\n\n
\n\n| Trade and other payables | \n22 725 | \n21 447 | \n\n\n\n\n\n
\n\n| Less: cash and short-term deposits | \n-283 981 | \n-166 752 | \n\n\n\n\n\n
\n\n| Net debt | \n-260 888 | \n-144 879 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
The Group's capital structure is primarily based on deposits.
\n
\n\n\n\n\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag324": {
"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.
\nThe Group monitors cash monthly towards 5-year budgets and forecasts.
\n\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Interest-bearing loans | \n368 | \n426 | \n\n\n\n\n\n
\n\n| Trade and other payables | \n22 725 | \n21 447 | \n\n\n\n\n\n
\n\n| Less: cash and short-term deposits | \n-283 981 | \n-166 752 | \n\n\n\n\n\n
\n\n| Net debt | \n-260 888 | \n-144 879 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
The Group's capital structure is primarily based on deposits.
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag325": {
"value": "\n14 Government grants
\n\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Receivable at 1 January | \n1 946 | \n2 117 | \n\n\n\n\n\n
\n\n| Received during the year | \n-1 859 | \n-2 388 | \n\n\n\n\n\n
\n\n| Grants recognised as reduction of research and development expenses in the consolidated statement | \n | \n | \n\n\n\n\n\n
\n\n| of income | \n2 205 | \n2 217 | \n\n\n\n\n\n
\n\n| Receivable at 31 December | \n2 292 | \n1 946 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n\n\n\n\n\nDuring the period 2024\u20132025, two projects were granted tax grants. There is a clear market demand for cameras with both smaller
\nand larger aperture sizes. One project focuses on larger devices, such as lenses with a wide aperture (typical of mobile phone main
\ncameras and conventional cameras), as well as devices that bend or shift the light path (Wobulator). The other project focuses on
\nsolutions with smaller aperture sizes, which are suitable for, among other applications, medical products.
\n\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Current | \n2 292 | \n1 946 | \n\n\n\n\n\n
\n\n| Non-current | \n0 | \n0 | \n\n\n\n\n\n
\n\n| Total | \n2 292 | \n1 946 | \n\n\n\n\n\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:DisclosureOfGovernmentGrantsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag327": {
"value": "\n
\n\n
15 Cash and short-term deposits
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Cash at banks | \n282 116 | \n165 572 | \n\n\n\n\n\n
\n\n| Restricted cash, taxes withheld | \n1 865 | \n1 180 | \n\n\n\n\n\n
\n\n| Cash and short-term deposits | \n283 981 | \n166 752 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n
Cash at banks earns interest at floating rates based on daily bank deposit rates.
\n
\n\n\n\n\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag328": {
"value": "\n15 Cash and short-term deposits
\n\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Cash at banks | \n282 116 | \n165 572 | \n\n\n\n\n\n
\n\n| Restricted cash, taxes withheld | \n1 865 | \n1 180 | \n\n\n\n\n\n
\n\n| Cash and short-term deposits | \n283 981 | \n166 752 | \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 earns interest at floating rates based on daily bank deposit rates.
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag329": {
"value": "\n
\n\n
16 Issued capital and reserves
\n
\n
\n\n\n | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Ordinary shares | \n212 768 478 | \n129 621 605 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n
The shareholders are presented in Note 16 Share capital and shareholder information, in the financial statement of the parent
\n
company, poLight ASA.
\n
\n
\n\n\n | \nNumber of | \nIssued capital | \n\n\n\n\n\n
\n\n| Shares issued and fully paid | \nshares | \n(in NOK 000) | \n\n\n\n\n\n
\n\n| At 1 January 2024 of NOK 0.20 each | \n66 211 548 | \n2 649 | \n\n\n\n\n\n
\n\n| Rights Issue on 21 May 2024 each with a par value of NOK 0.04 | \n60 481 758 | \n2 419 | \n\n\n\n\n\n
\n\n| Underwriting commission related to the rights Issue on 21 May 2024 each with a par | \n | \n | \n\n\n\n\n\n
\n\n| value of NOK 0.04 | \n2 928 299 | \n117 | \n\n\n\n\n\n
\n\n| At 31 December 2024 | \n129 621 605 | \n5 185 | \n\n\n\n\n\n
\n\n| Private placement (Q Technology Group) on 4 June 2025 each with a par value of NOK | \n | \n | \n\n\n\n\n\n
\n\n| 0.04 | \n63 743 112 | \n2 550 | \n\n\n\n\n\n
\n\n| Subsequent offering on 7 July 2025 each with a par value of NOK 0.04 | \n19 122 933 | \n765 | \n\n\n\n\n\n
\n\n| Exercise of share options on 20 August 2025 each with a par value of NOK 0.04 | \n81 559 | \n3 | \n\n\n\n\n\n
\n\n| Exercise of share options on 21 November 2025 each with a par value of NOK 0.04 | \n199 269 | \n8 | \n\n\n\n\n\n
\n\n| At 31 December 2025 | \n212 768 478 | \n8 511 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\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) | \nShare premium | \n\n\n\n\n\n
\n\n| At 1 January 2024 | \n194 503 | \n\n\n\n\n\n
\n\n| Rights Issue on 21 May 2024 each with a par value of NOK 0.04 | \n143 846 | \n\n\n\n\n\n
\n\n| Decrease due to transaction costs for issued share capital | \n-22 419 | \n\n\n\n\n\n
\n\n| Allocated to retain earnings | \n-93 556 | \n\n\n\n\n\n
\n\n| At 31 December 2024 | \n222 373 | \n\n\n\n\n\n
\n\n| Private placement (Q Technology Group) on 4 June 2025 each with a par value of NOK 0.04 | \n168 919 | \n\n\n\n\n\n
\n\n| Subsequent offering on 7 July 2025 each with a par value of NOK 0.04 | \n50 676 | \n\n\n\n\n\n
\n\n| Exercise of share options on 20 August 2025 each with a par value of NOK 0.04 | \n258 | \n\n\n\n\n\n
\n\n| Exercise of share options on 21 November 2025 each with a par value of NOK 0.04 | \n672 | \n\n\n\n\n\n
\n\n| Decrease due to transaction costs for issued share capital | \n-13 376 | \n\n\n\n\n\n
\n\n| Allocated to retain earnings | \n-103 615 | \n\n\n\n\n\n
\n\n| At 31 December 2025 | \n325 907 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n
The board is authorised to increase the share capital issuing new shares up to a total nominal value of NOK 1,546,918 (38,672,943
\n
shares at par value of NOK 0.04) that is approximately 18 per cent of shares outstanding, in addition to shares through share option
\n
schemes.
\n
Share option schemes
\n
The board is authorised to issue shares through share option schemes up to a total nominal value of NOK 773,459 (19,336,471 shares
\n
at par value of NOK 0.04), that is approximately 9 per cent of shares outstanding. The company\u2019s share option schemes, with the
\n
opportunity 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",
"dimensions": {
"concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag330": {
"value": "\n16 Issued capital and reserves
\n\n
\n\n\n | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Ordinary shares | \n212 768 478 | \n129 621 605 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\nThe shareholders are presented in Note 16 Share capital and shareholder information, in the financial statement of the parent
\ncompany, poLight ASA.
\n\n
\n\n\n | \nNumber of | \nIssued capital | \n\n\n\n\n\n
\n\n| Shares issued and fully paid | \nshares | \n(in NOK 000) | \n\n\n\n\n\n
\n\n| At 1 January 2024 of NOK 0.20 each | \n66 211 548 | \n2 649 | \n\n\n\n\n\n
\n\n| Rights Issue on 21 May 2024 each with a par value of NOK 0.04 | \n60 481 758 | \n2 419 | \n\n\n\n\n\n
\n\n| Underwriting commission related to the rights Issue on 21 May 2024 each with a par | \n | \n | \n\n\n\n\n\n
\n\n| value of NOK 0.04 | \n2 928 299 | \n117 | \n\n\n\n\n\n
\n\n| At 31 December 2024 | \n129 621 605 | \n5 185 | \n\n\n\n\n\n
\n\n| Private placement (Q Technology Group) on 4 June 2025 each with a par value of NOK | \n | \n | \n\n\n\n\n\n
\n\n| 0.04 | \n63 743 112 | \n2 550 | \n\n\n\n\n\n
\n\n| Subsequent offering on 7 July 2025 each with a par value of NOK 0.04 | \n19 122 933 | \n765 | \n\n\n\n\n\n
\n\n| Exercise of share options on 20 August 2025 each with a par value of NOK 0.04 | \n81 559 | \n3 | \n\n\n\n\n\n
\n\n| Exercise of share options on 21 November 2025 each with a par value of NOK 0.04 | \n199 269 | \n8 | \n\n\n\n\n\n
\n\n| At 31 December 2025 | \n212 768 478 | \n8 511 | \n\n\n\n\n\n
\n\n\n\n\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) | \nShare premium | \n\n\n\n\n\n
\n\n| At 1 January 2024 | \n194 503 | \n\n\n\n\n\n
\n\n| Rights Issue on 21 May 2024 each with a par value of NOK 0.04 | \n143 846 | \n\n\n\n\n\n
\n\n| Decrease due to transaction costs for issued share capital | \n-22 419 | \n\n\n\n\n\n
\n\n| Allocated to retain earnings | \n-93 556 | \n\n\n\n\n\n
\n\n| At 31 December 2024 | \n222 373 | \n\n\n\n\n\n
\n\n| Private placement (Q Technology Group) on 4 June 2025 each with a par value of NOK 0.04 | \n168 919 | \n\n\n\n\n\n
\n\n| Subsequent offering on 7 July 2025 each with a par value of NOK 0.04 | \n50 676 | \n\n\n\n\n\n
\n\n| Exercise of share options on 20 August 2025 each with a par value of NOK 0.04 | \n258 | \n\n\n\n\n\n
\n\n| Exercise of share options on 21 November 2025 each with a par value of NOK 0.04 | \n672 | \n\n\n\n\n\n
\n\n| Decrease due to transaction costs for issued share capital | \n-13 376 | \n\n\n\n\n\n
\n\n| Allocated to retain earnings | \n-103 615 | \n\n\n\n\n\n
\n\n| At 31 December 2025 | \n325 907 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\nThe board is authorised to increase the share capital issuing new shares up to a total nominal value of NOK 1,546,918 (38,672,943
\nshares at par value of NOK 0.04) that is approximately 18 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 773,459 (19,336,471 shares
\nat par value of NOK 0.04), that is approximately 9 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",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag333": {
"value": "\n17 Provisions
\n\n
\n\n\n | \nWarranty | \n | \n | \n\n\n\n\n\n
\n\n| (in NOK 000) | \nprovision | \nClaims | \nTotal | \n\n\n\n\n\n
\n\n| At 1 January 2024 | \n1 000 | \n0 | \n 1 000 | \n\n\n\n\n\n
\n\n| New or increased provisions | \n0 | \n6331 | \n6331 | \n\n\n\n\n\n
\n\n| At 31 December 2024 | \n1 000 | \n6 331 | \n7 331 | \n\n\n\n\n\n
\n\n| New or increased provisions | \n0 | \n0 | \n0 | \n\n\n\n\n\n
\n\n| Utilised | \n0 | \n-6 331 | \n-6 331 | \n\n\n\n\n\n
\n\n| At 31 December 2025 | \n1 000 | \n0 | \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
\nExpected timing of cash flow
\n\n
\n\n\n | \nWarranty | \n | \n | \n\n\n\n\n\n
\n\n| (in NOK 000) | \nprovision | \nClaims | \nTotal | \n\n\n\n\n\n
\n\n| Current, < 1 year | \n1 000 | \n0 | \n1 000 | \n\n\n\n\n\n
\n\n| Non-current | \n0 | \n0 | \n0 | \n\n\n\n\n\n
\n\n| At 31 December 2025 | \n1 000 | \n0 | \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
\nWarranty provision
\nA general provision to meet potential claims under the warranty clause.
\n
\n\n\n\n\n\nClaims
\nIn 2024, a patent infringement claim was filed against two poLight customers, and legal proceedings were initiated. Although poLight
\nand its local and domestic legal advisors consider that the use of TLens\u00ae does not infringe any of the patents mentioned, resolving
\nthe matter through the courts would have entailed very high legal expenses for poLight. As such, any direct financial exposure to
\npoLight was decided to be resolved commercially and is now closed.
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag335": {
"value": "\n
\n\n
\n
18 Related parties
\n
The financial statements include the financial statements of the Group and the subsidiaries listed in the following table:
\n
\n
\n
\n\n\n | \n | \nCountry of | \n | \n | \n\n\n\n\n\n
\n\n| Name | \nPrincipal activities | \nincorporation | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n | \nR&D, Sales and | \n | \n | \n | \n\n\n\n\n\n
\n\n| poLight ASA | \nmanagement | \nNorway | \n100 % | \n100 % | \n\n\n\n\n\n
\n\n| poLight France SAS | \nR&D | \nFrance | \n100 % | \n100 % | \n\n\n\n\n\n
\n\n| poLight Finland Oy | \nR&D | \nFinland | \n100 % | \n100 % | \n\n\n\n\n\n
\n\n| poLight Hong Kong Limited | \nHolding company | \nHK, China | \n100 % | \n100 % | \n\n\n\n\n\n
\n\n| poLight (Shenzhen) Technical | \n | \n | \n | \n | \n\n\n\n\n\n
\n\n| Service Company Limited | \nSales | \nChina | \n100 % | \n100 % | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n
poLight ASA is the ultimate parent company. None of the shareholders of poLight ASA have control of the company. As at 31
\n
December 2025, the largest shareholder was Q Technology (Group) Company Limited, which owned 29.96 per cent of the company\u2019s
\n
shares.
\n
Transactions between group companies
\n
Intercompany agreements are entered with all the subsidiaries in the Group. All sales in the subsidiaries are made with parent
\n
company. All transactions are considered to be on an arm\u2019s length basis.
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Purchases from subsidiaries | \n17 115 | \n16 617 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n\n\n| Outstanding balances | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n | \nEUR 000 | \nNOK 000 | \nEUR 000 | \nNOK 000 | \n\n\n\n\n\n
\n\n| Subordinated loan agreement | \n2 600 | \n30 200 | \n2 650 | \n31 257 | \n\n\n\n\n\n
\n\n| Trade and other payables | \n | \n2 063 | \n | \n3 238 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n
\n
A subordinated loan agreement was concluded on 29 December 2016, between poLight ASA and poLight France SAS. Only the part
\n
that exceeds a prudent level, with regards to both equity and subordinated loan combined, shall be regarded as loan in respect to
\n
interest accrual. For the financial year 2025, the entire principal is considered as equity, and not interest-bearing. Since the loan is
\n
considered to be a part of the net investment in poLight France SAS, the currency translation effect is recognised in OCI. In the parent
\n
company an impairment loss of NOK 27,959,650 related to the subordinated loan have been recognised. NOK 497,100 in reversed
\n
impairment loss was recognised in 2025.
\n
\n\n\n\n\n
\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\n\n\n\n\n
\n\n
Management remuneration
\n
In accordance with the Norwegian public Limited Companies Act \u00a76-16 a, the board of directors prepares a separate statement
\n
related to the determination of salary and other benefits for the corporate management. The statement shall be subject to an
\n
advisory vote by the annual general meeting in accordance with \u00a75-6 (3). The statement for 2025 will be submitted for approval in
\n
the annual general meeting 20 May 2026 and will be available on poLight ASA\u2019s website at the time the notice of the meeting is sent
\n
to the shareholders.
\n
The total remuneration to the management consists of fixed salary, bonus, benefits in-kind, share option program and pension
\n
schemes. The fixed salary is subject to an annual evaluation, and any salary increases and other amendments to the employments
\n
terms shall be based on a review by the CEO and the Board each year, taking into account trends in local labour markets, the results
\n
achieved, and individual contributions to the development of the Company.
\n
\n
\n\n\n | \n | \n | \n | \n | \nValue1) | \n | \n | \n\n\n
\n\n | \n | \n | \nPension | \nOther | \nshare | \nTotal | \nTotal | \n\n\n
\n\n| (in NOK 000) | \nSalaries | \nBonus | \ncosts | \nbenefits | \noptions | \n2025 | \n2024 | \n\n\n
\n\n| \u00d8yvind Isaksen - CEO | \n3 818 | \n2 613 | \n212 | \n438 | \n3 742 | \n10 823 | \n7 382 | \n\n\n
\n\n| Pierre Craen - CTO 2) | \n2 709 | \n528 | \n0 | \n0 | \n934 | \n4 172 | \n3 078 | \n\n\n
\n\n| Marianne Sandal - COO | \n1 966 | \n345 | \n236 | \n104 | \n962 | \n3 613 | \n2 643 | \n\n\n
\n\n| Joakim Bredahl- CFO 3) | \n1 590 | \n309 | \n198 | \n31 | \n828 | \n2 956 | \n800 | \n\n\n
\n\n| Total management team | \n10 083 | \n3 795 | \n645 | \n573 | \n6 467 | \n21 563 | \n13 903 | \n\n\n
\n\n\n\n\n\n
\n\n\n
\n
\n
1) Fair value of the share options vested in 2025 are calculated using the Black-Scholes option pricing model at the date of the
\n
grant. see more details in Note 5.3 Employee benefits expense.
\n
2) Pierre Craen has invoiced NOK 3,614 thousand whereof NOK 3,237 thousand is remuneration (2024: NOK 2,582 thousand)
\n
and NOK 376 thousand are travel expenses, through Tilia-Blue SRL as a consultant. Only the remuneration is included in the
\n
above figure.
\n
3) Joakim Bredahl served as CFO from 2 September 2024.
\n
\n
If the company terminates the CEO\u2019s employment, the CEO is entitled to nine months\u2019 salary, in addition to a three months\u2019 notice
\n
period.
\n
Below is an overview of poLight management's and board members' granted share options:
\n
\n
\n\n\n | \nOpening | \nCancelled | \nExercised | \nGranted | \nEnding | \nExercisable | \n\n\n\n\n\n
\n\n | \nbalance | \noptions | \noptions | \noptions | \nbalance | \noptions | \n\n\n\n\n\n
\n\n| \u00d8yvind Isaksen - CEO | \n2 083 745 | \n0 | \n0 | \n2 250 000 | \n4 333 745 | \n1 495 480 | \n\n\n\n\n\n
\n\n| Pierre Craen - CTO | \n410 615 | \n0 | \n0 | \n645 000 | \n1 055 615 | \n312 807 | \n\n\n\n\n\n
\n\n| Marianne Sandal - COO | \n458 615 | \n0 | \n0 | \n645 000 | \n1 103 615 | \n336 807 | \n\n\n\n\n\n
\n\n| Joakim Bredahl-CFO | \n250 000 | \n0 | \n0 | \n645 000 | \n895 000 | \n232 500 | \n\n\n\n\n\n
\n\n| Total management team | \n3 202 975 | \n0 | \n0 | \n4 185 000 | \n7 387 975 | \n2 377 594 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n
The exercise price on exercisable share options for the management\u2019s balance at 31 December 2025 was NOK 3.46 per share in
\n
weighted average. No share options were exercised in 2025. See additional information in Note 5.3 Employee benefits expense.
\n
In 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
\n
becomes immediately vested and exercisable.
\n
\n\n\n\n\n
\n\n\n\n\n\n
\n\n
Remuneration members of the board
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n
\n\n| Grethe Viksaas - chair of the board | \n563 | \n538 | \n\n\n
\n\n| Svenn Tore Larsen | \n283 | \n270 | \n\n\n
\n\n| Thomas G\u00f6rling1) | \n138 | \n270 | \n\n\n
\n\n| Jean-Christophe Eloy2) | \n283 | \n231 | \n\n\n
\n\n| Marianne B\u00f8e2) | \n283 | \n231 | \n\n\n
\n\n| Cathrine Wiig Ore 3) | \n145 | \n0 | \n\n\n
\n\n| Chris Liu4) | \n145 | \n0 | \n\n\n
\n\n| Louis So4) | \n145 | \n0 | \n\n\n
\n\n| Ann-Tove Kongsnes5) | \n0 | \n39 | \n\n\n
\n\n| Total Board of Directors | \n1 983 | \n1 578 | \n\n\n
\n\n\n\n\n\n
\n\n\n
\n
1) Member to May 21, 2025
\n
2) Member from January 15, 2024
\n
3) Member from May 21, 2025
\n
4) Member from June 2025
\n
5) Member to January 15, 2024
\n
\n
There are no loans from poLight to the management or members of the board.
\n
\n
Remuneration of the nomination committee
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n
\n\n| Jan-Erik H\u00e6reid-chair1) | \n40 | \n39 | \n\n\n
\n\n| Thomas S. Wrede-Holm - former chair 2) | \n0 | \n6 | \n\n\n
\n\n| Anne E. H. Wors\u00f8e | \n30 | \n30 | \n\n\n
\n\n| Egil Garberg 3) | \n30 | \n26 | \n\n\n
\n\n| Total | \n100 | \n100 | \n\n\n
\n\n\n\n\n\n
\n\n\n
\n
1) Chair from January 15, 2024
\n
2) Chair to January 15, 2024
\n
3) Member from January 15, 2024. The remuneration is invoiced from Investinor AS.
\n
\n
Remuneration of the audit and sustainability committee
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n
\n\n| Marianne B\u00f8e - chair 1) | \n40 | \n34 | \n\n\n
\n\n| Ann-Tove Kongsnes - former chair 2) | \n0 | \n6 | \n\n\n
\n\n| Grethe Viksaas | \n30 | \n30 | \n\n\n
\n\n| Louis So3) | \n15 | \n0 | \n\n\n
\n\n| Total | \n85 | \n70 | \n\n\n
\n\n\n\n\n\n
\n\n\n
\n
1) Chair from January 15, 2024
\n
2) Chair to January 15, 2024
\n
3) Member from June, 2025
\n
\n
\n\n\n\n\n
\n\n\n\n\n\n
\n\n
Remuneration of the remuneration committee
\n
\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n
\n\n| Grethe Viksaas - chair | \n40 | \n35 | \n
\n\n| Svenn Tore Larsen1) | \n15 | \n0 | \n
\n\n| Chris Liu2) | \n15 | \n0 | \n
\n\n| Thomas G\u00f6rling3) | \n15 | \n30 | \n
\n\n| Total | \n85 | \n65 | \n
\n\n
\n
\n
\n
\n
1) Member from May, 2025
\n
2) Member from June, 2025
\n
3) Member to May, 2025
\n
\n\n\n\n
\nTransactions with other related parties
\nNo direct transactions have been made with other related parties for the relevant financial years. Although not a related party
\ntransaction, it could be mentioned that some TLens\u00ae components have been delivered to Q Tech during the year through poLight\u2019s
\ndistributor at commercial terms. Further, and as announced on 15 April 2025, Q Tech is establishing a dedicated TLens\u00ae assembly
\nand test line pursuant to the Strategic Partnership Agreement. poLight has consigned test equipment which has been shipped to Q
\nTech's premises. As would be the case for any new assembly and test line, significant efforts have been dedicated by poLight to
\nsupport Q Tech in establishing the assembly line and getting it qualified for mass production. An agreement was made after the end
\nof the year that poLight could receive compensation for this support. In March 2026, poLight invoiced, through its distributor, USD
\n313,141 for support provided as NRE in 2025. This work has continued into 2026.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag338": {
"value": "\n
\n18 Related parties
\nThe financial statements include the financial statements of the Group and the subsidiaries listed in the following table:
\n
\n\n
\n\n\n | \n | \nCountry of | \n | \n | \n\n\n\n\n\n
\n\n| Name | \nPrincipal activities | \nincorporation | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n | \nR&D, Sales and | \n | \n | \n | \n\n\n\n\n\n
\n\n| poLight ASA | \nmanagement | \nNorway | \n100 % | \n100 % | \n\n\n\n\n\n
\n\n| poLight France SAS | \nR&D | \nFrance | \n100 % | \n100 % | \n\n\n\n\n\n
\n\n| poLight Finland Oy | \nR&D | \nFinland | \n100 % | \n100 % | \n\n\n\n\n\n
\n\n| poLight Hong Kong Limited | \nHolding company | \nHK, China | \n100 % | \n100 % | \n\n\n\n\n\n
\n\n| poLight (Shenzhen) Technical | \n | \n | \n | \n | \n\n\n\n\n\n
\n\n| Service Company Limited | \nSales | \nChina | \n100 % | \n100 % | \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 is the ultimate parent company. None of the shareholders of poLight ASA have control of the company. As at 31
\nDecember 2025, the largest shareholder was Q Technology (Group) Company Limited, which owned 29.96 per cent of the company\u2019s
\nshares.
\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\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n| Purchases from subsidiaries | \n17 115 | \n16 617 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n\n
\n\n\n| Outstanding balances | \n2025 | \n2024 | \n\n\n\n\n\n
\n\n | \nEUR 000 | \nNOK 000 | \nEUR 000 | \nNOK 000 | \n\n\n\n\n\n
\n\n| Subordinated loan agreement | \n2 600 | \n30 200 | \n2 650 | \n31 257 | \n\n\n\n\n\n
\n\n| Trade and other payables | \n | \n2 063 | \n | \n3 238 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\n\n
A subordinated loan agreement was concluded on 29 December 2016, between poLight ASA and poLight France SAS. Only the part
\n
that exceeds a prudent level, with regards to both equity and subordinated loan combined, shall be regarded as loan in respect to
\n
interest accrual. For the financial year 2025, the entire principal is considered as equity, and not interest-bearing. Since the loan is
\n
considered to be a part of the net investment in poLight France SAS, the currency translation effect is recognised in OCI. In the parent
\n
company an impairment loss of NOK 27,959,650 related to the subordinated loan have been recognised. NOK 497,100 in reversed
\n
impairment loss was recognised in 2025.
\n
\n\n\n\n\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag339": {
"value": "\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 2025, 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 27,959,650 related to the subordinated loan have been recognised. NOK 497,100 in reversed
\nimpairment loss was recognised in 2025.
\n
\n\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithRelatedPartiesExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag340": {
"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 2025 will be submitted for approval in
\nthe annual general meeting 20 May 2026 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\n
\n\n\n | \n | \n | \n | \n | \nValue1) | \n | \n | \n\n\n
\n\n | \n | \n | \nPension | \nOther | \nshare | \nTotal | \nTotal | \n\n\n
\n\n| (in NOK 000) | \nSalaries | \nBonus | \ncosts | \nbenefits | \noptions | \n2025 | \n2024 | \n\n\n
\n\n| \u00d8yvind Isaksen - CEO | \n3 818 | \n2 613 | \n212 | \n438 | \n3 742 | \n10 823 | \n7 382 | \n\n\n
\n\n| Pierre Craen - CTO 2) | \n2 709 | \n528 | \n0 | \n0 | \n934 | \n4 172 | \n3 078 | \n\n\n
\n\n| Marianne Sandal - COO | \n1 966 | \n345 | \n236 | \n104 | \n962 | \n3 613 | \n2 643 | \n\n\n
\n\n| Joakim Bredahl- CFO 3) | \n1 590 | \n309 | \n198 | \n31 | \n828 | \n2 956 | \n800 | \n\n\n
\n\n| Total management team | \n10 083 | \n3 795 | \n645 | \n573 | \n6 467 | \n21 563 | \n13 903 | \n\n\n
\n\n\n\n\n\n
\n\n\n
\n1) Fair value of the share options vested in 2025 are calculated using the Black-Scholes option pricing model at the date of the
\ngrant. see more details in Note 5.3 Employee benefits expense.
\n2) Pierre Craen has invoiced NOK 3,614 thousand whereof NOK 3,237 thousand is remuneration (2024: NOK 2,582 thousand)
\nand NOK 376 thousand are travel expenses, through Tilia-Blue SRL as a consultant. Only the remuneration is included in the
\nabove figure.
\n3) Joakim Bredahl served as CFO from 2 September 2024.
\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.
\nBelow is an overview of poLight management's and board members' granted share options:
\n\n
\n\n\n | \nOpening | \nCancelled | \nExercised | \nGranted | \nEnding | \nExercisable | \n\n\n\n\n\n
\n\n | \nbalance | \noptions | \noptions | \noptions | \nbalance | \noptions | \n\n\n\n\n\n
\n\n| \u00d8yvind Isaksen - CEO | \n2 083 745 | \n0 | \n0 | \n2 250 000 | \n4 333 745 | \n1 495 480 | \n\n\n\n\n\n
\n\n| Pierre Craen - CTO | \n410 615 | \n0 | \n0 | \n645 000 | \n1 055 615 | \n312 807 | \n\n\n\n\n\n
\n\n| Marianne Sandal - COO | \n458 615 | \n0 | \n0 | \n645 000 | \n1 103 615 | \n336 807 | \n\n\n\n\n\n
\n\n| Joakim Bredahl-CFO | \n250 000 | \n0 | \n0 | \n645 000 | \n895 000 | \n232 500 | \n\n\n\n\n\n
\n\n| Total management team | \n3 202 975 | \n0 | \n0 | \n4 185 000 | \n7 387 975 | \n2 377 594 | \n\n\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n
\n\n\n\n\n\n
\nThe exercise price on exercisable share options for the management\u2019s balance at 31 December 2025 was NOK 3.46 per share in
\nweighted average. No share options were exercised in 2025. See additional information in Note 5.3 Employee benefits expense.
\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
\n\n\n\n\n\nRemuneration members of the board
\n\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n
\n\n| Grethe Viksaas - chair of the board | \n563 | \n538 | \n\n\n
\n\n| Svenn Tore Larsen | \n283 | \n270 | \n\n\n
\n\n| Thomas G\u00f6rling1) | \n138 | \n270 | \n\n\n
\n\n| Jean-Christophe Eloy2) | \n283 | \n231 | \n\n\n
\n\n| Marianne B\u00f8e2) | \n283 | \n231 | \n\n\n
\n\n| Cathrine Wiig Ore 3) | \n145 | \n0 | \n\n\n
\n\n| Chris Liu4) | \n145 | \n0 | \n\n\n
\n\n| Louis So4) | \n145 | \n0 | \n\n\n
\n\n| Ann-Tove Kongsnes5) | \n0 | \n39 | \n\n\n
\n\n| Total Board of Directors | \n1 983 | \n1 578 | \n\n\n
\n\n\n\n\n\n
\n\n\n
1) Member to May 21, 2025
\n2) Member from January 15, 2024
\n3) Member from May 21, 2025
\n4) Member from June 2025
\n5) Member to January 15, 2024
\n
\nThere are no loans from poLight to the management or members of the board.
\n
\nRemuneration of the nomination committee
\n\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n
\n\n| Jan-Erik H\u00e6reid-chair1) | \n40 | \n39 | \n\n\n
\n\n| Thomas S. Wrede-Holm - former chair 2) | \n0 | \n6 | \n\n\n
\n\n| Anne E. H. Wors\u00f8e | \n30 | \n30 | \n\n\n
\n\n| Egil Garberg 3) | \n30 | \n26 | \n\n\n
\n\n| Total | \n100 | \n100 | \n\n\n
\n\n\n\n\n\n
\n\n\n
1) Chair from January 15, 2024
\n2) Chair to January 15, 2024
\n3) Member from January 15, 2024. The remuneration is invoiced from Investinor AS.
\n
\nRemuneration of the audit and sustainability committee
\n\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n\n\n
\n\n| Marianne B\u00f8e - chair 1) | \n40 | \n34 | \n\n\n
\n\n| Ann-Tove Kongsnes - former chair 2) | \n0 | \n6 | \n\n\n
\n\n| Grethe Viksaas | \n30 | \n30 | \n\n\n
\n\n| Louis So3) | \n15 | \n0 | \n\n\n
\n\n| Total | \n85 | \n70 | \n\n\n
\n\n\n\n\n\n
\n\n\n
1) Chair from January 15, 2024
\n2) Chair to January 15, 2024
\n3) Member from June, 2025
\n
\n
\n\n\n\n\n\nRemuneration of the remuneration committee
\n\n
\n\n\n| (in NOK 000) | \n2025 | \n2024 | \n
\n\n| Grethe Viksaas - chair | \n40 | \n35 | \n
\n\n| Svenn Tore Larsen1) | \n15 | \n0 | \n
\n\n| Chris Liu2) | \n15 | \n0 | \n
\n\n| Thomas G\u00f6rling3) | \n15 | \n30 | \n
\n\n| Total | \n85 | \n65 | \n
\n\n
\n
\n
\n1) Member from May, 2025
\n2) Member from June, 2025
\n3) Member to May, 2025
\n
\n\n\n\n",
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"language": "en",
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"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
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},
"Tag239": {
"value": "\n
\n\n
19 Going Concern and significant events after the end of the reporting period
\n
The Group possesses sufficient liquidity to fund its operations for the next 12 months. On 4 June and 7 July 2025, the private
\n
placement with Q Technologies Group and oversubscribed subsequent offering generated a total of NOK 209.5 million in net
\n
proceeds. Accordingly, these consolidated financial statements have been prepared under the assumption that both the Group and
\n
the parent company are going concerns.
\n
Management, together with the Board of Directors, continuously evaluates the Group\u2019s liquidity requirements to ensure adequate
\n
financing of planned operations, research and development activities, as well as any investments necessary for scaling up the
\n
business.
\n
No events have occurred after the end of the reporting period that requires disclosure except that poLight and Q Tech have come to
\n
an agreement that poLight can invoice 50% of its expenses incurred in supporting the establishment of a dedicated TLens\u00ae assembly
\n
and test line, mentioned in Note 18 Related parties. For this support, poLight have already invoiced USD 313,141 in March 2026
\n
related to services provided in 2025.
\n
\n\n\n\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGoingConcernExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
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},
"Tag240": {
"value": "\n19 Going Concern and significant events after the end of the reporting period
\nThe Group possesses sufficient liquidity to fund its operations for the next 12 months. On 4 June and 7 July 2025, the private
\nplacement with Q Technologies Group and oversubscribed subsequent offering generated a total of NOK 209.5 million in net
\nproceeds. Accordingly, these consolidated financial statements have been prepared under the assumption that both the Group and
\nthe parent company are going concerns.
\nManagement, together with the Board of Directors, continuously evaluates the Group\u2019s liquidity requirements to ensure adequate
\nfinancing of planned operations, research and development activities, as well as any investments necessary for scaling up the
\nbusiness.
\nNo events have occurred after the end of the reporting period that requires disclosure except that poLight and Q Tech have come to
\nan agreement that poLight can invoice 50% of its expenses incurred in supporting the establishment of a dedicated TLens\u00ae assembly
\nand test line, mentioned in Note 18 Related parties. For this support, poLight have already invoiced USD 313,141 in March 2026
\nrelated to services provided in 2025.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
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"Tag241": {
"value": "\n
\n\n
20 Standards issued, but not yet effective
\n
A number of new or amended accounting standards are effective for annual periods beginning after 1 January 2026 and earlier
\n
application is permitted. However, the Group has not early adopted any of these, and none are expected to have a significant impact
\n
on the Group\u2019s consolidated financial statements, except potentially IFRS 18.
\n
IFRS 18 Presentation and Disclosure in Financial Statements
\n
IFRS 18 will replace IAS 1 Presentation of Financial Statements and applies for annual reporting periods beginning on or after 1 January
\n
2027. The new standard introduces the following key new requirements: 1) Classify all income and expenses into five categories in
\n
the consolidated statement of income, namely the operating, investing, financing, discontinued operations and income tax
\n
categories. It is also required to present a newly-defined operating profit subtotal. Net result will not change. 2) Management-defined
\n
\n\n\n\n
\n\n\n\n\n
\n\n
performance measures (MPMs) are disclosed in a single note in the financial statements. 3) Enhanced guidance is provided on how
\n
to group information in the financial statements.
\n
In addition, it is required to use the operating profit subtotal as the starting point for the consolidated statement of cash flows when
\n
presenting cash flows from operating activities under the indirect method.
\n
The Group has not assessed the impact of the new standard, particularly with respect to the structure of the profit or loss section of
\n
the consolidated statement of comprehensive income, the consolidated statement of cash flows and the additional disclosures
\n
required for MPMs.
\n
\n\n\n\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
},
"Tag242": {
"value": "\n20 Standards issued, but not yet effective
\nA number of new or amended accounting standards are effective for annual periods beginning after 1 January 2026 and earlier
\napplication is permitted. However, the Group has not early adopted any of these, and none are expected to have a significant impact
\non the Group\u2019s consolidated financial statements, except potentially IFRS 18.
\nIFRS 18 Presentation and Disclosure in Financial Statements
\nIFRS 18 will replace IAS 1 Presentation of Financial Statements and applies for annual reporting periods beginning on or after 1 January
\n2027. The new standard introduces the following key new requirements: 1) Classify all income and expenses into five categories in
\nthe consolidated statement of income, namely the operating, investing, financing, discontinued operations and income tax
\ncategories. It is also required to present a newly-defined operating profit subtotal. Net result will not change. 2) Management-defined
\n
\n\n\n\n\nperformance measures (MPMs) are disclosed in a single note in the financial statements. 3) Enhanced guidance is provided on how
\nto group information in the financial statements.
\nIn addition, it is required to use the operating profit subtotal as the starting point for the consolidated statement of cash flows when
\npresenting cash flows from operating activities under the indirect method.
\nThe Group has not assessed the impact of the new standard, particularly with respect to the structure of the profit or loss section of
\nthe consolidated statement of comprehensive income, the consolidated statement of cash flows and the additional disclosures
\nrequired for MPMs.
\n
\n\n\n\n",
"dimensions": {
"concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory",
"language": "en",
"entity": "scheme:2138007ZPDNUIHX6Z659",
"period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
}
}
}
}