Rockley Photonics indicated in an SEC filing that it may work with Apple in the future to introduce new monitoring functions to the Apple Watch.
The Telegraph first reported on the filing, which indicated that the company’s operating financial results will depend on revenue that is attributable to a few of its large customers, including Apple — its largest.
“Rockley has a master supply and development agreement with this customer, which provides a general framework for Rockley’s transactions with it,” the filing said. “This agreement continues until either party terminates for material breach. Under this agreement, Rockley has agreed to develop and deliver new products to this customer at its request, provided it also meets Rockley’s business purposes, and has agreed to indemnify it for intellectual property infringement or any injury or damages caused by Rockley’s products.”
The filing details the United Kingdom-based company’s plans to go public in the U.S. and outlines Apple’s role in its finances, which includes being one of Rockley’s two largest customers. Apple and the other unnamed company accounted for 100% of the company’s revenue in 2020 and 99.6% in 2019.
Rockley’s relationship with Apple and the company’s main offerings — sensors for monitoring blood (for purposes such as blood glucose and alcohol levels) using infrared light — point toward the two companies working together to introduce such blood sugar monitoring functions to the Apple Watch in the near future.
A report from Apple Insider said that rumors of glucose monitoring being added as a function to the Apple Watch have long circulated around Apple, with reported patent applications from the company that would see glucose levels monitored through the skin instead of drawn blood.
That report cited Rockley CEO Andrew Rickman as saying he expects the company’s technology to exist in consumer products by 2022 but did not offer a comment on if Apple would be involved in such integration.