Elliptic Laboratories ASA — Earnings Release 2023

Jul 13, 2023

Elliptic Labs Q2 2023: Growth trajectory supported by laptop revenues

Elliptic Labs Q2 2023: Growth trajectory supported by laptop revenues

Elliptic Labs delivers Revenues from contracts with customers of mNOK 33.2 in

the second quarter 2023, an increase of 245% compared to mNOK 9.6 in the same

period last year. At the same time, the company experiences strong commercial

traction and has launched on eight smartphone models and 17 laptop models to

date in 2023.

Elliptic Labs has strong continued commercial traction in both the smartphone

and the PC verticals.

Highlights from Q2 2023:

* Signed new expansion contract with existing smartphone customer

* Signed software license contract with new Top-5 smartphone OEM

* Signed new contract with a new leading pc/laptop customer

* Signed new expansion contract with existing pc/laptop customer

* Launched AI Virtual Human Presence Sensor on 8 ThinkPad models,

* bringing the total to 17 models YTD

* Elliptic Labs now has contracts with 4 of the Top-6 PC OEMs and PoC with one

additional top OEM

Subsequent to Q2 2023:

* Launched smartphone with existing client, the Honor X50

* Signed contract with a new smartphone customer

Elliptic Labs will present its results today at 08:00 CET, followed by a Q&A

session. Please use the following link to access the presentation:

https://channel.royalcast.com/landingpage/hegnarmedia/20230713_1/

Contacts

Investor Relations:

Lars Holmøy

Lars.Holmoy@ellipticlabs.com

PR Contact:

Patrick Tsui

pr@ellipticlabs.com

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.