Elliptic Laboratories ASA
OSE:ELABS
Elliptic Laboratories ASA
Elliptic Laboratories ASA operates as an AI virtual smart sensor platform. The company is headquartered in Oslo, Oslo. The company went IPO on 2020-10-16. The enterprise targets the smartphone, laptop, IoT, and automotive markets. The Company’s Artificial Intelligence (AI) software combines ultrasound and sensor-fusion algorithms to deliver intuitive 3D gesture and presence sensing experiences. Elliptic Laboratories ASA has offices in San Francisco, Oslo and Shanghai.
Elliptic Laboratories ASA operates as an AI virtual smart sensor platform. The company is headquartered in Oslo, Oslo. The company went IPO on 2020-10-16. The enterprise targets the smartphone, laptop, IoT, and automotive markets. The Company’s Artificial Intelligence (AI) software combines ultrasound and sensor-fusion algorithms to deliver intuitive 3D gesture and presence sensing experiences. Elliptic Laboratories ASA has offices in San Francisco, Oslo and Shanghai.
Revenue Growth: Revenue rose 50% year-on-year to NOK 42.3 million in Q3, mainly driven by milestone revenues from two major laptop contracts.
Profitability: EBITDA increased sharply to NOK 12.7 million from NOK 0.5 million last year, reflecting higher revenues and stable costs.
Cash Position: The company ended the quarter with NOK 54.8 million in cash, a slight decrease versus Q2, with positive operating cash flow.
Pay-As-You-Go Delay: Most shipped volumes are still under minimum commitments, so pay-as-you-go revenues remain limited for now but are expected to grow as commitments are fulfilled.
Strategic Review: Elliptic Labs has launched a strategic review that includes reassessing midterm revenue targets, working capital, and commercial priorities.
Outlook: Achieving double-digit 2025 revenue growth depends on Q4 shipment volumes and timing of ongoing contract discussions.
