Elliptic Labs initiates cost efficiency initiative following strategic review
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| Land | Norge |
|---|---|
| Lista | Oslo Bors |
| Sektor | Informationsteknik |
| Industri | Programvara |
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Oslo, Norway - Elliptic Labs (OSE: ELABS) today announces cost efficiency initiatives as part of the strategic review announced on the company’s third quarter 2025 disclosure.
The planned actions involve cost reductions and organizational changes aimed at aligning the company’s structure and resource allocation across existing and new product verticals. The actions are expected to improve execution focus, strengthen accountability, and help build a more efficient organization.
The cost efficiency initiative will include organizational adjustments and layoffs across selected functions and locations. The adjustments are expected to result in annualized reductions of approximately 15% in combined personnel and other operating expenses and approximately 12% in capitalized development costs, compared to the company’s cost base for the last twelve months ended Q3 2025.
The measures are planned to be completed in February 2026 with full run-rate effects from that point forward.
“Elliptic Labs has a strong and highly competent organization, and we greatly value the contribution of our employees. This initiative is about focusing our resources more clearly and organizing ourselves to support profitable growth going forward. While these steps are difficult to take, they are necessary to strengthen our foundation and position Elliptic Labs for the next phase,” said CEO Ola Sandstad.
Elliptic Labs will continue to deliver on and grow its established core business with smartphones and laptops, which remain central to the company’s commercial foundation. At the same time, the company is positioning itself to build a strong platform for expansion into additional verticals.
“Elliptic Labs has a highly skilled and dedicated organization, and the Board and management remain deeply appreciative of the competence, commitment and contribution of our employees. However, these initiatives represent necessary and valuable steps forward for Elliptic Labs, reinforcing our financial position and strengthening our ability to grow and create value over time,” says Chairman of the Board, Svenn-Tore Larsen in Elliptic Labs.
For further information, please contact:
interim CEO Ola Sandstad, ola.sandstad@ellipticlabs.com
interim CFO Mathias Norderud, mathias.norderud@ellipticlabs.com