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Elliptic Laboratories ASA — Earnings Release 2022
Jul 14, 2022
3590_rns_2022-07-14_3aaee3f9-c415-4c89-9f6b-17b68d23d3df.html
Earnings Release
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Elliptic Labs Second quarter and first half-year results 2022
Elliptic Labs Second quarter and first half-year results 2022
Oslo, Norway - Elliptic Laboratories ASA ( Elliptic Labs ), a global AI
software company and leader in AI Virtual Smart Sensors for the smartphone,
laptop, Internet of Things (IoT), and automotive industries, reports Revenues
from contracts with customers of mNOK 9.6 (4.8) for the Second Quarter 2022 an
almost exact 100% increase. For the 1H 2022 mNOK 15.1 (6.5) is reported as
Revenues from contracts with customers, a 132% increase. Total revenue and
other operating income was mNOK 9.6 (7.6) for the Second Quarter 2022 . This
corresponds to a total revenue growth of 26% year over year. EBITDA was a
negative mNOK -11.0 (-3.7) for the Second Quarter 2022 and for 1H 2022 mNOK
-24.4 (-12.2) Last twelve months (LTM) revenue from contracts with customers
grew 85% year-over-year to mNOK 63,2, with a corresponding EBITDA of mNOK
-15.0.
Highlights from Q2 2022:
- Launched on 7 smartphone models with several customers
- Expanded contract with Lenovo for 18 future models and two additional
expansions
Subsequent to Q2 2022:
- Launched AI Virtual Position Sensor, demonstrating the continuous progress
being made to our platform
- First PoC AI Virtual Position Sensor announced the 11th of July
Contacts
Investor Relations:
Lars Holmøy
[email protected] (mailto:[email protected])
PR Contact:
Patrick Tsui
[email protected] (mailto:[email protected])
About Elliptic Labs
Elliptic Labs is a global enterprise targeting the smartphone, laptop, IoT,
and automotive markets. Founded in 2006 as a research spin-off from Norway s
Oslo University, the company s patented software uses AI, ultrasound, and
sensor-fusion to create AI Virtual Smart Sensors that deliver intuitive 3D
gesture-, proximity-, presence-, breathing-, and heartbeat -detection
experiences. Its scalable AI Virtual Smart Sensor PlatformTM creates
software-only sensors that are sustainable, human-friendly, and already
deployed in hundreds of millions of devices around the world. Elliptic Labs is
the only software company that has delivered detection capabilities using AI
software, ultrasound, and sensor-fusion deployed at scale. The company is
listed on the Oslo Børs.
Elliptic Labs is headquartered in Norway with presence in the USA, China,
South -Korea, Taiwan, and Japan. Its technology and IP are developed in Norway
and are solely owned by the company.
Trademark
INNER BEAUTY is a registered trademark of Elliptic Labs.
AI Virtual Smart Sensor, AI Virtual Smart Sensor Platform, AI Virtual
Proximity Sensor, AI Virtual Presence Sensor, AI Virtual Connection Sensor, AI
Virtual Gesture Sensor, AI Virtual Heartbeat Sensor, and AI Virtual Breathing
Sensor are trademarks of Elliptic Labs.
All other trademarks or service markets are the responsibility of their
respective organizations.
This information is information that Elliptic Laboratories is obliged to make
public pursuant to the EU Market Abuse Regulation. The information was
submitted for publication, through the agency of the contact persons set out
above, at 2022-07-14 07:00 CEST.
Attachments
Elliptic Labs Report 2022 Q2
(https://storage.mfn.se/d1b57ebb-6302-417f-8429-981231cff607/elliptic-labs-report-2022-q2.pdf)
Elliptic Labs Presentation 2022 Q2
(https://storage.mfn.se/b6b5ad7e-6b5b-453e-9cb5-cb32b3484437/elliptic-labs-presentation-2022-q2.pdf)
Elliptic Laboratories Webcast Q2 2022
(https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20220714_1)