Elliptic Laboratories ASA — Earnings Release 2023

Feb 15, 2024

Elliptic Labs Q4 2023: Setting the market standard and shaping the future of AI Virtual Smart Sensors

Elliptic Labs Q4 2023: Setting the market standard and shaping the future of AI Virtual Smart Sensors

Elliptic Labs reports Revenues from contracts with customers of NOK 68.3

million in 2023, an increase of 31% from NOK 52.1 million in 2022. For the

fourth quarter, revenue from contracts with customers ended at NOK 9.2 million

compared to NOK 9.8 million in the fourth quarter of last year. Revenue in

individual quarters remains impacted by the timing of milestone revenue and

model launches.

Highlights from Q4 2023:

* Signed contract with a PC OEM for a breakthrough new AI Virtual Smart Sensor

Platform functionality set to reshape device-to-device interoperability and

redefine seamless user experience across systems and devices

* Signed several new contracts with existing smartphone customers

* Launched on eight new smartphone models featuring the AI Virtual Smart

Sensor Platform including vivo Y100 5G, Honor X50i Plus, Honor 100, Honor

100 Pro, RedMI k70E, Honor 90 GT, Oppo S18 and Oppo S18 Pro

* Joined the MIPI-alliance as a key contributor to defining new architecture

and industry standards in collaboration with key global ecosystem players

Events after the end of the quarter:

* Signed a software license contract with a new smartphone customer

* Signed expansion contract with existing global top-5 smartphone customer

* Launched six new smartphone models featuring the AI Virtual Smart Sensor

Platform --- Honor x50 GT, Honor x50 Pro, Xiaomi Note 13 Pro 4G, Xiaomi Poco

X6 Pro, Honor X8B and Tecno Spark 20 Pro+

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/20240215_3/

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.

This information is subject to disclosure under the Norwegian Securities

Trading Act, §5-12. The information was submitted for publication at

2024-02-15 07:00 CET.