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Elliptic Labs: Q1 2022 Results and invitation to Q1 2022 presentation

May 25, 2022 | All MFN (en), MFN IR (en)

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 Total revenue and other operating income of mNOK 5.5 (4.5) for the First Quarter 2022. This corresponds to total revenue growth of 22% year over year. EBITDA was a negative mNOK -13.4 (-8.5) for the First Quarter of 2022

Last twelve months (LTM) revenue from contracts with customers grew 83% year-over-year to mNOK 58.4, with a corresponding EBITDA of mNOK -7.8.

Highlights from Q1 2022:

  • First PC Launch with Lenovo on Top-Selling ThinkPad(TM) T14
  • Established AMD partnership for PC
  • Launched on 13 smartphone models with several customers
  • Cash flow positive for the quarter

Subsequent to Q1 2022:

  • Lenovo signed a license contract for 18 future laptop models
  • Two additional expansion contracts for more laptop models
  • Launched on 1 more smartphone model

Elliptic Labs invites investors, analysts, media, and other stakeholders to a presentation of its Q1 2022 results Wednesday, May 25 at 08:00 CEST.

The presentation will be held by CEO Laila Danielsen and CFO Lars Holmøy and will be followed by a Q&A session.

Please use the following link to access the presentation:
https://channel.royalcast.com/landingpage/hegnarmedia/20220525_11/

For more information, please contact:
CFO Lars Holmøy [email protected]
+47 40 28 40 28

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 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.

Elliptic Labs Report 2022 Q1
Elliptic Labs Presentation 2022 Q1