Elliptic Labs — Q3 2023: Continuing to Advance in Both the PC/Laptop and Smartphone Markets
Elliptic Labs reports Revenues from contracts with customers of mNOK 59.1 for year to date 2023 an 40% increase, compared to mNOK 42.2 million in the same period last year and a 14% ahead of full year revenue last year.
Revenues from contracts with customers in individual quarters remains impacted by the timing of milestone revenue and model launches, and Elliptic Labs reports revenue from contracts with customers of NOK 21.9 million in the third quarter compared to NOK 27.1 million in the third quarter of last year.
Highlights from Q3 2023:
- Signed new expansion license agreement for AI Virtual Smart Sensor PlatformTM with Lenovo for PC
- Signed POC with a PC OEM for AI Virtual Smart Sensor Platform technology to deliver new, seamless user experiences
- Signed contract for AI Virtual Smart Sensor Platform with new smartphone customer, and signed new contracts with several existing smartphone customers
- Launched several new smartphone models featuring the AI Virtual Smart Sensor Platform, including Honor X50, Oppo Find N3 Flip, Honor V Purse, Redmi Note 13, Redmi Note 13 Pro and Techno Phantom V Flip
Events after the end of the quarter:
- 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 new expansion contract with an existing smartphone customer
- Launched two new smartphone models featuring the AI Virtual Smart Sensor Platform — vivo Y100 5G and Honor X50i Plus
- Launched the AI Virtual Seamless Sensor for Seamless Device-to-Device User Experiences
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/20231124_1/