Correction: Elliptic Labs — Q2 2024: Executing on milestones to deliver on growth target
Due to an oversight, an unfinished version of two slides was inadvertently included in the Q2 presentation. Please find the updated presentation attached herewith, which now includes all pertinent information in the updated slide deck.
Elliptic Labs reports Revenues from contracts with customers of NOK 56.1 million in H1 2024, an increase from NOK 37.2 million in the first half of 2023. The company is adding to its growth momentum, and over the first half of 2024 revenue is up by 51% compared to H1 23.
Total revenue and other operating income was NOK 34.2 million (33.5) for the second quarter 2024. This corresponds to a total revenue increase of 2% year-over- year.
Elliptic Labs is executing on its strategy to go deeper with customers, and has launched its AI Virtual Smart Sensor Platform on 34 new smartphone models and 13 new laptop models so far in 2024, making the total deployment 130 smartphone models and 31 laptop models since the company's inception. In the second quarter, Elliptic Labs also recognized milestone revenue from two new laptop contracts, expanding the foothold in the laptop segment. Elliptic Labs is continuously strengthening its strategic, technical, and commercial position, and is well positioned to maintain the growth momentum going forward.
Highlights from Q2 2024:
- Signed another expansion license contract with top-4 smartphone customer Transsion
- Signed PC license contract with existing PC customer in the consumer segment
- Launched AI Virtual Human Presence sensor on ThinkpadTM P1 Gen 7, P16v i Gen 2, P16s i Gen 3, and P14s i Gen 5 laptops
- Launched on 16 new smartphone models, including 9 models with VIVO, 4 models with Honor, 1 model with Infinix, 1 model with RedMi, and one model with Ant Design Mobile
Events after the end of the quarter:
- Announced expansion contract with commercial segment of PC customer
- Announced expansion contract with smartphone customer Oppo
- Launched new smartphones Honor Play 60 plus and Infinix Note 40s
Please use the following link to access the presentation: https://channel.royalcast.com/landingpage/hegnarmedia/20240712_6/