French microdisplay company Microoled plans to go public in Paris

On January 11, Microoled, a French microdisplay company, announced that it will be listed on the Paris Stock Exchange, and its registration documents have been approved by the French Financial Markets Authority (Autorité des Marchés Financiers).

Microoled was founded in 2007 in the Grenoble Science and Technology Valley in France to focus on the design, production and marketing of OLED microdisplays for near-eye applications (outdoor optical equipment, night vision glasses, medical eye equipment, augmented reality glasses, etc.).

Since its inception, Microoled has invested more than €25 million in research and development and has an extensive patent portfolio covering more than 30 technology product lines. To date, Microoled has manufactured and sold more than one million microdevices that have been integrated into key medical devices such as night vision and infrared glasses, outdoor activity telescopes, and microscopes and endoscopes for security professionals (armed forces, police, firefighters, etc.).

Image source: Microoled's official website

On the customer side, with Micro OLED's leading technology, Microoled has gained recognition from numerous customers in the market for specialty areas such as outdoor sports, safety, defense and healthcare, with customers in more than 25 countries in North America, Europe and Asia. More than 95% of its business comes from foreign customers, and sales models include selling directly or doing business through local distributors and sales agents.

In terms of products, Microoled is currently committed to laying out an optical module based on self-developed OLED technology in the field of sports - ActiveLook (R), which contains a micro display, an electronic system and a battery with a life of more than 12 hours, weighing less than 7 grams, and can be connected with android, Ios and Garmin platforms to transform sports glasses into augmented reality glasses. ActiveLook(R) will sell 300,000 units in 2020, and the company expects ActiveLook(R) to sell 3.9 million units worldwide by 2024.

It is worth the idea that In order to lay out activeLook(R) optical modules in the sports technology market, Microoled has also developed ENGO Eyewear, a sportswear brand based on ActiveLook(R). It is understood that users can obtain heart rate and route data through a 304 x 256 pixel monochrome Micro OLED display integrated in front of the sports glasses, and the battery life of the glasses is 12 hours and the weight is only 42 grams.

In order to increase the business development of ActiveLook(R) optical modules, Microoled plans to increase production capacity in Europe and Asia. In 2022, Microoled established a joint venture in China with its long-standing local partner and a third production line in France in 2023.

In terms of performance, Microoled's turnover has grown by nearly 35% per year since 2017. In 2020, the company generated revenue of €20.2 million, EBIT of €7.2 million, an increase of 79% year-on-year, and an EBIT margin of 35%. In the first half of 2021, revenue was 11 million euros, an increase of 56% year-on-year. In 2021, Microoled expects revenues to exceed €22 million. Microoled expects revenues of €110 million by 2026, while the ActiveLook(R) optical module business will account for 50% of total revenues; EBITDA is expected to be above 25%. (Compiled by LEDinside Irving)

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