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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