Elliptic Laboratories Asa · OSL:ELABS
Elliptic Laboratories Asa — Investor Presentation (March 2026)
35 slides from Elliptic Laboratories Asa's investor presentation, Mar 5, 2026
Slide 1: Company Presentation | March 2026
Company Presentation | March 2026 Our vision is to maximize the value of edge devices by enabling advanced intelligence to be deployed seamlessly at scale 1
Slide 2: Disclaimer
Disclaimer This presentation (the "Presentation") has been prepared by Elliptic Laboratories ASA (the "Company" and together with its subsidiaries the "Group"). The Presentation is intended for information purposes only and does not itself constitute, and should not in itself be construed as, an off
Slide 3: Elliptic Labs: AI Virtual Sensor Platform
Elliptic Labs: AI Virtual Sensor Platform TM On-device AI software replacing physical sensors Elliptic develops on-device AI-based software that replaces physical sensors, enabling devices to detect human presence, gestures and contextual interactions using existing hardware – NOK 103m Revenue 2025
Slide 4: Table of Contents
TABLE OF CONTENTS 1. Company overview 2. Customer overview 3. Market overview 4. Financial overview 5. The road ahead 6. Appendix 4
Slide 5: Elliptic Labs: AI virtual smart sensor platform
Elliptic Labs: AI virtual smart sensor platform Elliptic Labs at a glance Current and future product offering Revenue (NOKm) development Elliptic Labs is a publicly listed Norwegian CURRENT OFFERING: on-device AI-based software company founded in 2006 as a >2x software that replaces physical sensors
Slide 6: Mgmt. team and Board with decades of deep tech expertise
Mgmt. team and Board with decades of deep tech expertise Management team Board of directors Ola Sandstad | Interim CEO Svenn-Tore Larsen | Chairman 20+ years in product and technology leadership; experience CEO of Nordic Semiconductor for over 20 years; scaled the from Elliptic Labs, NAGRA / Kudelsk
Slide 7: Elliptic Labs today
Elliptic Labs today AI Virtual Smart Sensor platformTM Clear and compelling value proposition No dedicated hardware sensors: Software-only product Elliptic develops on-device AI-based software that replaces using a device’s existing hardware (speaker(s), mic(s) physical sensors in laptops, smartphon
Slide 8: Elliptic Labs "tomorrow": AI platform for Edge AI on embedded devices
Elliptic Labs "tomorrow": Elliptic Labs AI platform for Edge AI on embedded devices Productizing platform for friction-less development and deployment of edge AI on embedded devices Clear outcomes Expands commercial reach to new device space and verticals Enables companies to build and scale their o
Slide 9: Table of Contents
TABLE OF CONTENTS 1. Company overview 2. Customer overview 3. Market overview 4. Financial overview 5. The road ahead 6. Appendix 9
Slide 10: Trusted partner to global technology players
Trusted partner to global technology players Integrated across ecosystems Delivering production-ready AS sensing features OEMs that enhance user experience and Proven use cases and strong validation across industries product value Established delivery partnerships with key Future proofed technology
Slide 11: Serving major smartphone and laptop providers globally
Serving major smartphone and laptop providers globally OEM split: global smartphone devices sold annually OEM split: global PC devices sold annually Share of total Other Share of total Realme Other Apple Huawei Lenovo Lenovo Acer Honor Asus Samsung Transsion Apple Oppo HP Vivo Xiaomi Dell 11 Source:
Slide 12: Increasing trend in unit shipment volumes with Elliptic products
Increasing trend in unit shipment volumes with Elliptic products Volumes shipped to the market is the underlying driver of growth Indexed – Q3’23 = 100 261 193 188 190 100 100 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Cust
Slide 13: Smartphones: First platform application
Smartphones: First platform application Trusted by top global OEMs Shipments to the market Smartphone revenue # Sensors launched # Smartphone shipments, indexed (Q3’23 = 100)1 NOKm 193 78 188 60 66 65 100 32 33 21 20 22 23 24 25 Q3'23 Q1'24 Q3'24 Q1'25 Q3'25 22 23 24 25 Long-term deployment engine w
Slide 14: Laptops: Expanding platform footprint
Laptops: Expanding platform footprint Platform footprint with first OEM Shipments to the market Laptop revenue # Sensors launched on models1 # Sensors shipped to market, indexed NOKm Milestone revenue 894 Incremental volume revenue 621 54 6 41 36 34 29 2 12 320 3 48 17 16 34 100 26 29 1 22 23 24 25
Slide 15: Growing portfolio penetration with first laptop customer
Growing portfolio penetration with first laptop customer Portfolio penetration with current laptop customer # Million units shipped1 Expanding the model footprint 100 20% Gradually increasing penetration of the customer portfolio ELABS share (technology deployed) 80 16% Share of shipped units with E
Slide 16: Model and product expansion with tier-1 OEMs
Model and product expansion with tier-1 OEMs; supporting future growth Development in number of models launched # of models launched 285 2025 58 Laptops: 25 laptops launched in 2025 containing 34 AI Virtual Smart Sensors (FY 2024: 15 models containing 16 AI Virtual Smart Sensors) 195 Smartphones: 65
Slide 17: Table of Contents
TABLE OF CONTENTS 1. Company overview 2. Customer overview 3. Market overview 4. Financial overview 5. The road ahead 6. Appendix 17
Slide 18: Global smartphone and laptop market is vast and growing
Global smartphone and laptop market is vast and growing Global smartphone shipments Global PC shipments # million units # million units 1,600 400 1,400 350 1,200 300 1,000 250 800 200 600 150 400 100 200 50 0 0 14A 16A 18A 20A 22A 24A 26E 28E 14A 16A 18A 20A 22A 24A 26E 28E Large, resilient Establis
Slide 19: Edge AI adoption creates a vast and structural opportunity
Edge AI adoption creates a vast and structural opportunity Global Edge AI market Developer friction is the bottleneck # USDbn Today: >10x AI engineers build part of the solution 386 Embedded devices require additional software expertise and hardware/chipset-specific optimization Leads to control log
Slide 20: Context-aware computing a key driver of next-gen devices
Context-aware computing a key driver of next-gen devices Rapidly growing context aware computing market Strong market tailwinds # USDbn >14% CAGR Smartphones, tablets, PCs and IoT are increasingly required to sense and react to environment and user context 89 Shift toward software-defined sensing an
Slide 21: Table of Contents
TABLE OF CONTENTS 1. Company overview 2. Customer overview 3. Market overview 4. Financial overview 5. The road ahead 6. Appendix 21
Slide 22: Revenue up >2x over the past five years to NOK 103m in 2025
Revenue up >2x over the past five years to NOK 103m in 2025 Highlight of key financials Revenue (NOKm) & EBITDA development Revenue NOK 102.7m in 2025, Q3 milestone revenues restated (11%) (4%) (59%) (48%) 19% (9%)1 EBITDA margin Revenue recognition for two multi-year laptop contracts announced in H
Slide 23: Scale and cost reduction unlocking profitability and cash generation
Scale and cost reduction unlocking profitability and cash generation Scalable software-only business model Revenue (NOKm) & EBITDA development Scale at limited incremental cost (11%) (4%) (59%) (48%) 19% (9%)1 Software-only delivery with minimal marginal cost per additional unit; revenue EBITDA marg
Slide 24: Revenue up >2x over the past five years to NOK 103m in 2025
Revenue up >2x over the past five years to NOK 103m in 2025 Historical development in total revenue Historical development in LTM EBITDA1 NOKm NOKm 2021 2022 2023 2024 2025 27 133 25 103 85 16 63 70 57 52 60 60 52 38 42 23 27 28 5 6 12 15 4 YTD Q1 YTD Q2 YTD Q3 YTD Q4 (3) (6) (8) Historical developm
Slide 25: Table of Contents
TABLE OF CONTENTS 1. Company overview 2. Customer overview 3. Market overview 4. Financial overview 5. The road ahead 6. Appendix 25
Slide 26: Outcome of strategic review
Outcome of strategic review Initiated strategic review in Q3 2025 to prioritize scalable growth opportunities and strengthen long-term value creation Implemented targeted cost measures, improving efficiency and resource allocation Continuing growth in smartphone and laptop footprint and multi- senso
Slide 27: Expanding deployment & value with laptops and smartphones
Expanding deployment & value with laptops and smartphones Multi-sensor deployment Grow unit footprint across new and existing customers Expand intelligence per device with multiple sensors for both laptops and smartphones Leverage existing platform with limited incremental cost Smartphones, tablets,
Slide 28: Leveraging existing product portfolio and broadening the scope
Leveraging existing product portfolio and broadening the scope Opportunity: Smart glasses Focused approach to leverage established product portfolio Increase value per unit Increase number of units Additional sales channels Maximize revenue per unit Scale volumes through broader Extend the market re
Slide 29: The Strategic Expansion: From a specialized sensor provider to a global AI enabler
The Strategic Expansion: From a specialized sensor provider to a global AI enabler Monetize the platform, not just the output Edge AI embedded platform Licensing the core of our technology to companies striving to deploy AI at the Continue edge with no friction monetizing AI Features Mass-Market val
Slide 30: Table of Contents
TABLE OF CONTENTS 1. Company overview 2. Customer overview 3. Market overview 4. Financial overview 5. The road ahead 6. Appendix 30
Slide 31: Converting portfolio to revenue and cash
Converting portfolio to revenue and cash Illustrative laptop contract1 announced in Q3’22 Contract announcement Milestone revenue (revenue for minimum volume) • Agreement covering specified device models Incremental volume revenue (above minimum committed volume) • OEM commits to ship a minimum volu
Slide 32: Reported financials
Reported financials Profit and loss Q4 2 25 Q4 2 24 2 25 2 24 ( mo nts in 000 ) otes ( na dited) ( na dited) ( na dited) ( dited) evenues from contracts with customers 41 2 4 5 3 1 13 6 131 14 Other operating income 35 35 1 43 1 43 otal revenue and other operating income 2 42 34 4 3 2 3 33 343 Emplo
Slide 33: Reported financials
Reported financials Cash flow ( naudited) ( naudited) ( naudited) (Audited) Amounts in NOK Q4 2 25 Q4 2 24 2 25 2 24 ash flow from operating activities Profit (loss) before tax 5 138 1 3 1 4 1 4 Adjustment for Taxes paid in the period 3 664 1 55 22 3 1 61 epreciation and amortization 42 54 5 21 86 2
Slide 34: Reported financials
Reported financials Balance sheet Assets Equity & liabilities 3 2 2 25 3 2 2 24 3 2 25 3 2 2 25 3 2 2 24 3 2 25 ( mo nts in 000 ) otes ( na dited) ( dited) ( estated) ( mo nts in 000 ) otes ( na dited) ( dited) ( estated) Non current assets E uity and liabilities eferred tax assets 8 5 42 8 141 hare
Slide 35: https://ellipticlabs.com
https://ellipticlabs.com
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