Elliptic Laboratories ASA — Earnings Release 2025

May 22, 2025

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

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

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.