Elliptic Labs Q3 2024: Continued growth and commercial progress

29 Nov 2024 07:00 CET

Elliptic Labs reports Revenues from contracts with customers of NOK 84.3
million for year to date 2024, an increase from NOK 59.1 million in the same
period in 2023, representing an increase of 43%. Total revenue and other
operating income was NOK 28.6 million (22.5) for the third quarter 2024. This
corresponds to a total revenue increase of 27% year-over- year.
Elliptic Labs is rapidly scaling its portfolio adding new models and use cases
in accordance with its stated strategy. The company has launched its AI
Virtual Smart Sensor Platform on 53 new smartphone models and 15 new laptop
models so far in 2024, making the total deployment 149 smartphone models and
33 laptop models since the company's inception.

Since the second quarter, Elliptic Labs has successfully launched Lenovo Smart
Share for seamless device-to-device interoperability, added in November an
expansion contract with an existing PC customer for more models and, for the
first time, accessories. Further, the company has in November for the first
time announced two AI Virtual Smart Sensors on one laptop model, and announced
a new expansion contract with smartphone customers Oppo and Transsion.
Collectively, this commercial progress provides additional proof points of
Elliptic Lab's ability to go deeper with existing customers, expand the
deployment of its AI Virtual Smart Sensor platform and enable scalability.

Highlights from Q3 2024:
- Launch of Lenovo Smart Share feature with our AI Virtual Tap Sensor on
Lenovo's ThinkPad X1 Carbon Gen 13 Aura and Yoga Slim 7i Gen 9 Aura Edition
- Signed new expansion license contract with top-4 smartphone customer
Transsion
- Announced expansion contract with smartphone customer Oppo
- Launched on 16 new smartphone models, including 7 models with VIVO, 3
models with Honor, 3 models with TECNO and 3 models with Infinix

Events after the end of the quarter:
- New expansion contract with existing PC customer for more laptops and, for
the first time also including accessories
- Launch of the AI Virtual Human Presence detection on Lenovo's ThinkPad X1
Carbon Gen 13 Aura edition commercial laptop. First laptop with 2 AI Virtual
Smart Sensors
- Launched on 5 new smartphone models, including VIVO V40e, RedMI Note 14 Pro
Plus, RedMI Note 14 Pro, Infinix Zero Flip, and Lava International AGNI 3

Please use the following link to access the presentation:
https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20241129_1

Contacts
Investor Relations:
Lars Holmøy
Lars.Holmoy@ellipticlabs.com

PR Contact:
Patrick Tsui
pr@ellipticlabs.com

About Elliptic Labs
Elliptic Labs' AI Virtual Smart Sensor PlatformTM brings contextual
intelligence to devices, enhancing user experiences. Our technology uses
proprietary deep neural networks to create AI-powered Virtual Smart Sensors
that improve personalization, privacy, and productivity.

Currently deployed in over 500 million devices, our platform works across all
devices, operating systems, platforms, and applications. By utilizing
system-level telemetry data to cloud-based Large Language Models (LLMs), the
AI Virtual Smart Sensor Platform delivers the unrivaled capability to utilize
output data from every available data source. This approach allows devices to
better understand and respond to their environment, making technology more
intuitive and user-friendly. At Elliptic Labs, we're not just adapting to the
future of technology -- we're actively shaping it. Our goal is to continue
pushing the boundaries of contextual intelligence, creating more intuitive and
powerful experiences for users worldwide.

Elliptic Labs is headquartered in Norway with presence in the USA, China,
South-Korea, Taiwan, and Japan. The company is listed on the Oslo Stock
Exchange. Its technology and IP are developed in Norway and are solely owned
by the company.

More information:
Access the news on Oslo Bors NewsWeb site

633465_Elliptic Labs Report 2024 Q3.pdf
633465_Elliptic Labs Q3 2024 Results Presentation.pdf