Slide 1: Q1 2022 Results presentation
Q1 2022 CEO Laila Danielsen CFO & IR Lars Holmøy Results presentation | May 25, 2022
Slide 2: Sensors touch every aspect of life and drive the digital transformation
Sensors touch every aspect of life and drive the digital transformation Our vision is to build the leading software platform for all sensors, making every device smarter, more human- and environmentally-friendly 2
Slide 3: Our AI Virtual Smart Sensor Platform makes devices intelligent
Our AI Virtual Smart Sensor PlatformTM makes devices intelligent Leveraging existing single Elliptic Labs’ purpose sensors Virtual Smart SensorsTM Microphones AI Virtual Smart Speakers Sensor Platform™ Virtual Proximity Virtual Presence Sensor Sensor Time-of-flight Software technology Touch using AI
Slide 4: Billions of devices use hardware sensor components
Billions of devices use hardware sensor components Our USD 5.5 billion market opportunity USD 1-2bn USD 1.1 – 1.8bn USD 1bn USD 1bn USD 140 – 350m Smartphones PCs, Laptops & tablets IoT IoT - Smart TVs Automotive 4
Slide 5: Adding more capabilities while reducing cost, risk and environmental footprint
We are adding more capabilities while reducing cost, risk and environmental footprint Replacing hardware sensor components • AI Virtual Smart Sensor Platform™ can replace infrared, time-of-flight and radar PCs, Laptops sensors for presence and proximity Smartphones IoT & tablets detection − Reducing
Slide 6: Increased future revenue visibility expanding into the Laptop market
Increased future revenue visibility expanding into the Laptop market Year-over-year revenue growth NOK million, LTM 64.0 • 83% Revenue growth from contracts with customers year-over-year (LTM) − Mainly income from Smartphone vertical 45.3 − First quarters are seasonally low • 41% Total revenue and o
Slide 7: Multiple opportunities for expansion
More Virtual Multiple opportunities Smart Sensors for expansion Launched with Lenovo and signed Laptops example agreements for future expansion applicable in all verticals on +20 laptop models More More +20 customers models 7
Slide 8: Continuing commercial scale from a strong foundation
Continuing commercial scale from a strong foundation Market enabler: Opportunities: Materialized: Partner-agreements* Proof-of-Concept Contracts* Models launched* * FOUNDATION 60 57 50 AI Virtual Smart 40 Sensor Platform™ 24 24 30 56 19 20 18 157 patents 14 12 12 42 15 20 granted/pending 12 9 8 27 (
Slide 9: On path to become the standard in the Laptop market
On path to become the standard in the Laptop market Global desktop, notebook and Contract for more than 20 Lenovo Partnerships with CPU majors grants workstation shipments models incl. top seller ThinkPad T14 access to the complete market Million units shipped1 Market share Q1 20222 341 295 262 260
Slide 10: Continued strong demand and growth in Smartphones
Experiencing continued Announced 14 smartphone launches YTD 2022 strong demand and AI Virtual Proximity SensorTM growth in Smartphones Models launched 55 Cumulative 50 45 Q1 2022: 13 models 40 Subsequent: 1 model 35 30 25 20 15 10 5 0 Q1’ Q1’ Q1’ Q1’ Q1’ Q1’ Q1’ 16 17 18 19 20 21 22 • Leading market
Slide 11: The market is dominated by single-purpose hardware sensor
The market is dominated by single-purpose hardware sensor Hardware sensor components Hardware sensors technology cost Cost per unit (USD) $ 10 - 20 • Microphone and speaker − In most devices for standard audio and voice control • Infrared Proximity Sensor: − Mature and incumbent technology in most s
Slide 12: Funded for continued expansion across multiple verticals
Financial review Funded for continued expansion across multiple verticals CFO Lars Holmøy 12
Slide 13: Continued strong growth trajectory
Continued strong growth trajectory Revenue from contracts with customers last twelve months NOK million, LTM +83% • 83% year-over-year growth in revenues from contracts with customers last twelve months − Primarily from the smartphones vertical − Continued strong demand for AI Virtual Smart Sensors
Slide 14: Smartphones revenue supported by laptops in second half 2022
Smartphones revenue expected to be supported by revenue from laptops in second half 2022 Quarterly revenue from contracts with customers NOK million • Last two years revenue from contracts with customers subject to seasonality − Majority of revenue from smartphones • Laptop license revenue expected
Slide 15: Maintaining a robust capital discipline through our growth journey
Maintaining a robust capital discipline through our growth journey Condensed Profit & Loss statement NOK million Q1'22 Q1'21 %YoY Q4'21 • Revenue from contracts with customers growth of Revenues from contracts with customers 5.5 1.7 221 % 34.7 221% YoY Other operating income 0.0 2.8 -100 % 0.0 − Mai
Slide 16: Positive cash flow in the first quarter 2022
Positive cash flow in the first quarter 2022 Q1 2022 cash flow NOK million • Strong liquidity supported by 2021 equity raise 5.6 • Positive cash flow in Q1 2022 8.5 1.7 219.3 218.2 • Cash flow from operating activities positively affected by realization of NOK 12.4 million receivables • Cash flow fr
Slide 17: Maintaining a robust balance sheet
Maintaining a robust balance sheet Balance sheet NOK million Assets Equity & liabilities 371 371 356 356 37 39 • Strong and increased cash position of 70 NOK 219 million at the end of Q1 2022 73 • Working capital reduced NOK 18 million (7%) 343 331 218 • Equity ratio of 93% 219 • Interest bearing de
Slide 18: Q&A: 2023 revenue target
Q&A 2023 revenue target Building position in the IoT market Revenue 500 NOK million Laptops our next key growth vertical EBITDA >50% Continued Smartphone expansion 18
Slide 19: We will be back shortly for Q&A session
2023 revenue target We will be Building position in the IoT market back shortly for Revenue 500 Q&A session NOK million Laptops our next key growth vertical EBITDA >50% Continued Smartphone expansion 19
Slide 20: Appendix
Appendix ellipticlabs
Slide 21: Wide-ranging opportunities across significant markets
Wide-ranging opportunities across significant markets Smartphones PCs, Laptops & tablets IoT Smart TVs Automotive Number of units 1.4bn 460m 2.1 bn 400m 100m x Price of Infrared Time-of-Flight / Radar Time-of-Flight/Infrared Time-of-Flight Radar alternatives USD 0.10 – 0.25 USD 2.5 – 4.0 USD 0.10 –
Slide 22: Reported financials: Profit and loss
Reported financials Profit and loss Q1 2022 Q1 2021 2021 (Amounts in 000 NOK) (Unaudited) (Unaudited) (Audited) Revenues from contracts with customers 5 516 1 719 54 598 Other operating income — 2 813 8 438 Total revenue and other operating income 5 516 4 532 63 036 Employee benefits expenses -13 89
Slide 23: Reported financials: Cash flow
Reported financials Cash flow Q1 2022 Q1 2021 2021 (Amounts in 000 NOK) (Unaudited) (Unaudited) (Audited) Cash flow from operating activities Profit/(loss) before tax -17 470 -11 020 -13 092 Adjustment for: Taxes paid in the period -2 -7 -12 Depreciation 2 868 2 058 8 311 Share-based payments 2 914
Slide 24: Reported financials: Balance sheet
Reported financials Balance sheet Assets Equity & liabilities 31/03/22 31/12/21 31/03/22 31/12/21 (Amounts in 000 NOK) (Unaudited) (Audited) (Amounts in 000 NOK) (Unaudited) (Audited) Non-current assets Equity and liabilities Deferred tax assets 65 710 62 534 Share capital 1 038 1 038 Intangible ass
Slide 25: Shareholder information
Shareholder information Shares and options owned by BoD, mgmt, and Top 20 shareholders as of 20. May 2022 employees as of 20. May 2022(fully diluted) Number of % of Number of Percent of fully shares total shares shares diluted shares 1 PASSESTA AS 12 280 480 11,8% Shares owned by Board of Directors
Slide 26: Disclaimer - Important information
Disclaimer - Important information The following presentation is being made only to, and is only directed at, persons to whom such presentation may lawfully be communicated (“relevant persons”). Any person who is not a relevant person should not act or rely on this presentation or any of its content
Slide 27: Sensors touch every aspect of life and drive the digital transformation
Sensors touch every aspect of life and drive the digital transformation Our vision is to build the leading software platform for all sensors, making every device smarter, more human- and environmentally-friendly Significant opportunity in prioritized markets AI Virtual Smart Sensor Platform™ Virtual
Slide 28: AI Virtual Smart Sensor Platform
AI Virtual Smart Sensor PlatformTM Laila Danielsen, CEO laila@ellipticlabs.com Lars Holmøy, CFO & Investor Relations lars.holmoy@ellipticlabs.com