Elliptic Labs Q1 2025: Revenue from customers up 20% YoY with stable cash position and rapid launch pace

22 May 2025 07:00 CEST

Elliptic Labs reports Revenues from contracts with customers of NOK 26.6
million for 2025, an increase from NOK 22.2 million 2024, representing an
increase of 20%. Total revenue and other operating income was NOK 27.0 million
(22.6) for the first quarter 2025. This corresponds to a Total revenue and
other operating income increase of 19% year-over- year.

Elliptic Labs is setting a high growth trajectory through rapid scaling of its
product portfolio and deployment footprint. In the first months of 2025, the
company launched its platform on 23 new laptop models, including seven
featuring dual-sensor configurations. By May 2025 we have already surpassed
the number of laptops launched in FY 2024 by more than 50% and almost doubled
the number of AI Virtual Smart Sensors deployed in laptops.

In the smartphone segment, Elliptic Labs has launched its platform on 23 new
models year-to-date, with firm commitments secured for an additional 45 models
to be launched later in the year. This commercial progress not only
illustrates the company's accelerating momentum but also its ability to drive
customer value and execute on its expansion strategy.

Highlights from Q1 2025:
- Launched on 16 new laptop models, including four featuring dualsensor
configurations
- Launched on 11 new smartphones, with firm commitments for 45 additional
models to be launched this years
- Revenues from customers NOK 26.6m, up 20% year-on-year
- EBITDA NOK -1.6m (NOK -3.3m in Q1'24)

Events after the End of the Quarter:
-Expanded with Current Smartphone Customer Under a Multi-Year Agreement
- Elliptic Labs Signs New Expansion License Contract with Existing Customer
for 11 Smartphone Models
- Launched on seven new laptops, including three featuring dual-sensor
configurations
- Launched on 12 new smartphones

Elliptic Labs continues to lead in AI Virtual Smart Sensor Platform,
demonstrating its ability to scale efficiently and profitably while
solidifying its position in the rapidly evolving AI-native device market.

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.

This information is subject to disclosure under the Norwegian Securities
Trading Act, §5-12. The information was submitted for publication at
2025-05-22 07:00 CEST.

More information:
Access the news on Oslo Bors NewsWeb site

647119_Elliptic Labs Presentation 2025 Q1.pdf
647119_Elliptic Labs Report 2025 Q1.pdf