Strategy and objectives
The Company’s management believes that the following factors in particular are the company’s key strategic priorities in achieving its business targets:
Expanding manufacturing capability
Modulight has decided to expand its capabilities and manufacturing capacity by executing a EUR 23 million investment program in order to cater to the increasing customer demand.
Modulight aims to expand its geographical presence in key areas in the United States as well as in selected markets in Asia, such as China and Japan.
Expansion of offering to other indications
Modulight aims to expand its offering to cover other indications as well as extend the use of its medical device platform.
Expansion within cloud analytics
Modulight develops cloud-based analytic services with a focus on improving the efficacy of the treatments using the company’s equipment and the final treatment outcome.
Continued investments into laser technology
Modulight continues investments into high-power single-mode laser technology to further increase the gap to competition.
Modulight's long-term goals
The Company has the following long-term commercial goal:
- advance to the extensive commercial commissioning stage vis-à-vis its products with three of its clients by the end of 2023*.
In addition, the Company has the following long-term financial goals:
- Maintain a high rate of revenue growth; and
- Maintain a high degree of profitability.
*Modulight generates most of its current revenue from the products currently in the development stage and the Company defines the commercial commissioning stage to have actualized once the Company’s revenue exceeds EUR 10 million for the product/customer in question.
In the coming years, the Company will focus on financing the growth and development of its business. The Company will adhere to this very stringent dividend policy, which is tied to the Company’s results and financial standing. The Company expects to distribute only a small amount of dividends or no dividends at all in the near to mid-term.