Elliptic Labs reports Revenues from contracts with customers of NOK 68.3 million in 2023, an increase of 31% from NOK 52.1 million in 2022. For the fourth quarter, revenue from contracts with customers ended at NOK 9.2 million
compared to NOK 9.8 million in the fourth quarter of last year. Revenue in individual quarters remains impacted by the timing of milestone revenue and model launches.

Highlights from Q4 2023:

• Signed contract with a PC OEM for a breakthrough new AI Virtual Smart Sensor Platform functionality set to reshape device-to-device interoperability and redefine seamless user experience across systems and devices
• Signed several new contracts with existing smartphone customers
• Launched on eight new smartphone models featuring the AI Virtual Smart Sensor Platform including vivo Y100 5G, Honor X50i Plus, Honor 100, Honor 100 Pro, RedMI k70E, Honor 90 GT, Oppo S18 and Oppo S18 Pro
• Joined the MIPI-alliance as a key contributor to defining new architecture and industry standards in collaboration with key global ecosystem players

Events after the end of the quarter:

• Signed a software license contract with a new smartphone customer
• Signed expansion contract with existing global top-5 smartphone customer
• Launched six new smartphone models featuring the AI Virtual Smart Sensor Platform — Honor x50 GT, Honor x50 Pro, Xiaomi Note 13 Pro 4G, Xiaomi Poco X6 Pro, Honor X8B and Tecno Spark 20 Pro+

Elliptic Labs will present its results today at 08:00 CET, followed by a Q&A session. Please use the following link to access the presentation:
https://channel.royalcast.com/landingpage/hegnarmedia/20240215_3/