(Oslo, Norway 20 November 2025) Elliptic Labs reports revenue from contracts
with customers of NOK 42.3 million in the third quarter 2025, an increase of
50% from the third quarter last year. Total revenue and other operating income
increased by 49% to NOK 42.6 million. For the first nine months of 2025
revenues from contracts with customers amounted to NOK 93.5 million, up from
NOK 84.3 million in the first nine months of 2024.
The third quarter revenue includes milestone revenue corresponding to around
65% of the minimum revenue commitment of NOK 55 million for two major laptop
contracts signed in the third quarter, with around 25% expected to be
recognized as revenue in Q4 and the remaining 10% in later periods.
As a result of the higher revenue and continued cost control the EBITDA
improved to NOK 12.7 million in the third quarter from NOK 0.5 million in the
same quarter last year.
Elliptic Labs continues to scale its portfolio by adding new models and use
cases. So far in 2025, the company has launched its AI Virtual Smart Sensor
Platform on 58 new smartphone models and 25 new laptop models so far in 2025.
Q3 highlights and post-quarter events:
* Signed two new laptop contracts with existing customer for a combined
minimum commitment of approximately NOK 55m, covering commercial, consumer
and PC accessories segments
* Launched on 18 new smartphone models in the third quarter and an additional
4 smartphones after the end of the quarter
Outlook:
Elliptic Labs achieved revenue growth of 11% for the first nine months of the
year, and the company's communicated double-digit revenue growth target will
depend on shipment volumes in the fourth quarter and revenue recognition of
anticipated new contracts. Elliptic Labs expects year-on-year revenue growth
in the fourth quarter of 2025, reflecting a combination of milestone revenue
from contracts signed in previous quarters, pay-as-you-go revenue driven by
shipments, and anticipated new agreements with smartphone and/or laptop
customers.
Elliptic Labs is in a leadership transition phase, with Ola Sandstad and
Mathias Norderud having assuming interim roles as CEO and CFO. The new
management has initiated a strategic review of Elliptic Labs' product and
customer roadmaps, commercial opportunities, and long-term positioning. The
review encompasses both existing markets and potential new verticals. As a
part of this process, the company is reassessing its medium-term financial
targets.
Elliptic Labs remains focused on fully monetizing existing contracts,
expanding with current and new customers, and increasing the number of AI
Virtual Smart Sensors deployed per device. The company has a strong commercial
fundament and is well positioned to continue launching multiple models across
both laptops and smartphones in close collaboration with its strategic OEM
partners. As part of the ongoing strategic review, Elliptic Labs is also
evaluating new market opportunities, including emerging device categories such
as smart glasses.
As the only company to have deployed AI Virtual Smart Sensors at scale,
Elliptic Labs remains well-positioned to capitalize on the ongoing shift
toward AI-native devices.
CEO Ola Sandstad and CFO Mathias Norderud will present the Q3 2025 results
today at 08:00 CEST. Please use the following link to access the presentation:
https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20251120_3
Contacts:
CEO Ola Sandstad, ola.sandstad@ellipticlabs.com
CFO Mathias Norderud, mathias.norderud@ellipticlabs.com
PR: 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.
Trademark
INNER BEAUTY is a registered trademark of Elliptic Labs.
AI Virtual Smart Sensor, AI Virtual Smart Sensor Platform, AI Virtual
Proximity Sensor, AI Virtual Presence Sensor, AI Virtual Connection Sensor, AI
Virtual Gesture Sensor, AI Virtual Heartbeat Sensor, and AI Virtual Breathing
Sensor are trademarks of Elliptic Labs.
All other trademarks or service markets are the responsibility of their
respective organizations.
This information has been submitted pursuant to the Securities Trading Act ยง
5-12 and MAR Article 17. The information was submitted for publication at
2025-11-20 07:00 CET.