Elliptic Labs: Revenue from contracts with customers of NOK 42m in Q4 and NOK 101m for FY 2025

26 Feb 2026 07:00 CET

(Oslo, Norway 26 February 2026) Elliptic Labs reports revenue from contracts
with customers of NOK 42.0 million in the fourth quarter 2025 and NOK 101.3
million for the full year 2025, compared to NOK 47.6 million and NOK 131.9
million in the fourth quarter 2024 and full year 2024, respectively.

Elliptic Labs continues to scale its portfolio by deploying new models,
launching its AI Virtual Smart Sensor Platform on 65 new smartphone models and
25 new laptop models in 2025. This brought the accumulated number of models
launched to 227 smartphone models and 58 laptop models.

Following the audit process of the 2025 financial statements, the Company
revised the timing of revenue recognition of minimum commitments under two
contracts entered in the second half of 2025. As a result, the Company
restated its Q3 2025 figures as announced in a stock exchange release on 22
February 2026. Approximately NOK 16.1 of minimum commitment revenue is
recognized in Q4 2025, with the remaining minimum commitment revenue of NOK
31.8 million to be recognized in subsequent periods.

EBITDA was NOK 1.4 in the fourth quarter, and NOK -20.7 for the full year,
whereas the loss before tax was NOK -5.1 million and NOK -58.2 million for the
full year. Following a reassessment under IAS 12, the Company has derecognized
its deferred tax asset in full based on contracted revenue visibility at the
reporting date. While this is a non-cash accounting adjustment that does not
affect the Group's cash position, it contributed to generate a net loss after
tax of NOK -95.1 million for the fourth quarter and NOK -138.2 million for the
full year 2025.

Key events in Q4 2025:
- Leadership transition with Ola Sandstad appointed as interim CEO
- Signed Contract Expansion with Current Top-5 Global Smartphone Manufacturer
- Launched on 11 new smartphone models in the fourth quarter

Events after the End of the Quarter:
- New license agreement with an existing Top-5 Global Smartphone Manufacturer,
covering a minimum of five smartphones models scheduled to be launched in 2026
- Announced cost efficiency initiatives
- Signed new contract with current Laptop Customer to expand AI Virtual Human
Presence Sensor across Consumer Laptop segments
- Launched on 5 new smartphone models in January 2026

Elliptic Labs initiated a strategic review in Q3 2025 to prioritize scalable
growth opportunities and strengthen long-term value creation and has taken
active steps both to restore revenue growth and align the cost base.
The Company will monetise its current contract and customer portfolio and seek
growth by continuing to increase the number of units deploying Elliptic Labs
technology and by increasing the value per unit by adding more sensors.
Elliptic Labs will also seek to expand into new verticals leveraging its AI
Virtual Smart Sensor Platform, such as smart glasses and enablement of
targeted content and advertising models for smart-TVs.

Furthermore, the company sees large and rapidly growing market opportunities
within edge AI and is working to productize its platform to offer customers
friction-less development and deployment of edge AI on embedded devices.
In terms of costs, the company has already implemented cost measures aimed to
reduce personnel and other operating costs by around 15% and capitalized
development costs by around 12%, using the twelve months leading up to Q3 2025
as baseline. Importantly, the company has reallocated resourced to support the
new growth initiatives.

Elliptic Labs remains the only company having deployed AI Virtual Smart
Sensors at scale and will execute on the large market opportunities this
represents with a leaner and more efficient organisation going forward.

Interim CEO Ola Sandstad and Interim CFO Mathias Norderud will present the Q4
2025 and FY 2025 results today at 08:00 CEST. Please use the following link to
access the presentation:
https://qcnl.tv/p/7U5b0EZmwebxEieOd22Z8A

Contacts:
Interim CEO Ola Sandstad, ola.sandstad@ellipticlabs.com
Interim CFO Mathias Norderud, mathias.norderud@ellipticlabs.com

About Elliptic Labs
Elliptic Labs is a global Edge AI company delivering trusted, low-power
on-device sensing at scale. Our AI Virtual Smart Sensor PlatformTM enables
intelligent, always-on contextual awareness directly on devices --- without
the need for additional hardware or continuous cloud processing.

Deployed in over 500 million devices worldwide, our platform powers
software-defined sensing across a broad range of consumer and enterprise
products. By executing compact neural networks directly on-device, our
technology delivers adaptive, real-time sensing that preserves user privacy
while minimizing power consumption.

For more than a decade, Elliptic Labs has specialized in efficient neural
network execution using proprietary runtimes and custom-built sensing models
optimized for real-world environments. Built on balanced, self-collected
datasets and engineered to operate across diverse hardware architectures, our
AI Virtual Smart Sensors enable seamless integration across product
generations and device categories.

Our solutions enhance security, personalization, productivity, and user
experience --- forming a scalable foundation for the next generation of
AI-enabled devices.

Headquartered in Norway, with a presence in the USA, China, South Korea,
Taiwan, and Japan, Elliptic Labs is listed on the Oslo Stock Exchange. All
technology and intellectual property are developed in Norway and are solely
owned by the company, ensuring independence and long-term innovation.

Trademark
INNER BEAUTY is a registered trademark of Elliptic Labs.

AI Virtual Smart Sensor, AI Virtual Proximity Sensor, and AI Virtual Smart
Sensor Platform are trademarks of Elliptic Labs.

All other trademarks or service markets are the responsibility of their
respective organizations.

This information has been submitted pursuant to the Securities Trading Act §
5-12 and MAR Article 17. The information was submitted for publication,
through the agency of the contact persons set out above, at 2026-02-26 07:00
CET.

More information:
Access the news on Oslo Bors NewsWeb site

666864_Elliptic Labs Presentation 2025 Q4.pdf
666864_Elliptic Labs Report 2025 Q4.pdf