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Elliptic Labs
Elliptic Labs (ELABS) investor relations material
Elliptic Labs Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary26 Feb, 2026
Executive summary
Full-year 2025 revenue was NOK 102.7 million, down 23% year-over-year, impacted by revised milestone revenue recognition and restated Q3 results following the audit process.
Q4 2025 revenue reached NOK 42.3 million, down 12% year-over-year, with milestone laptop contract revenues recognized in the quarter.
EBITDA for 2025 was NOK -20.7 million, including NOK 11 million in one-off items in Q4; Q4 EBITDA was NOK 1.4 million.
Strategic review led to targeted cost reductions, a focus on leveraging the existing portfolio, expanding into new verticals, and productizing the AI platform for embedded devices.
Leadership transition occurred in November 2025, with Ola Sandstad appointed as interim CEO.
Financial highlights
Q4 2025 revenue: NOK 42.3 million, including NOK 16.1 million from milestone laptop contracts; full-year revenue: NOK 102.7 million, down NOK 31 million from 2024.
Operating loss for Q4 was NOK 5.9 million; net loss after tax was NOK -95.1 million for Q4 and NOK -138.2 million for 2025, mainly due to derecognition of deferred tax assets.
Operating costs in Q4 totaled NOK 41 million, with NOK 25.3 million in employee benefits and NOK 15.7 million in other expenses; trade receivable losses were NOK 7.7 million.
Cash and cash equivalents at year-end were NOK 43.1 million, with negative operating cash flow of NOK 3.3 million in Q4.
Equity at year-end was NOK 189.8 million, down from NOK 325.3 million, mainly due to derecognition of deferred tax assets and net loss.
Outlook and guidance
Backlog of NOK 31.8 million from multi-year laptop contracts to be recognized evenly over 2026-2027.
Cost efficiency initiatives implemented to reduce personnel and operating costs by around 15% and capitalized development costs by 12%.
Focus on profitable growth in laptops and smartphones, expansion into adjacent verticals, and productization of the AI platform for embedded edge AI markets.
Future revenue impact of milestone distribution?
Productizing AI platform: new revenue streams?
Tight memory market: opportunity or threat?
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Next Elliptic Labs earnings date
Q1 202621 May, 2026
Elliptic Labs
Next Elliptic Labs earnings date
Q1 202621 May, 2026
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Frequently asked questions
Norwegian Ultrasound Sensors
Elliptic Labs is a company that specializes in providing virtual smart sensors for a range of electronic devices. Their technology is widely utilized in smartphones, laptops, IoT devices, automotive applications, smart speakers, and televisions. The company uses AI, ultrasound, and sensor fusion to deliver solutions such as 3D gesture recognition, proximity sensing, presence detection, and monitoring of breathing and heartbeats. The company is headquartered in Oslo, Norway, and its shares are listed on the Oslo Stock Exchange.
A Research Spin-off
Elliptic Labs was founded in 2006 by Laila Danielsen, a Norwegian entrepreneur who still acts as the company's CEO. The company emerged from the University of Oslo's research initiatives, focusing on utilizing ultrasound technology for gesture recognition and touchless interaction. The company's early research and development efforts were directed toward integrating ultrasound technology into mobile devices, enabling users to control their gadgets through hand gestures without physical contact.
AI Virtual Smart Sensor Platform
Elliptic Labs' breakthrough came with its AI Virtual Smart Sensor Platform, which has been adopted by major smartphone manufacturers. By eliminating the need for physical sensors, this technology enhances device functionality while reducing hardware costs. Over the years, Elliptic Labs has expanded its applications to include smart home devices, laptops, and automotive systems. The company's technology is in use in over 500 million devices worldwide. Some of Elliptic Labs' publicly traded peers include Synaptics Incorporated, Cirrus Logic, and Infineon Technologies AG.
How it Works and Application Areas
Elliptic Labs' ultrasound-based approach offers several advantages over traditional sensors, including greater flexibility, reduced hardware costs, and the ability to create more intuitive and hygienic user interfaces. The company's technology uses ultrasound to enable touchless interaction with electronic devices. It begins with emitting ultrasonic waves from tiny transducers embedded in the device. When these waves encounter an object, like a user's hand, they reflect back to the device, where transducers capture the returning signals.
These signals undergo advanced processing to analyze the time delay and changes in frequency and amplitude, creating a 3D map of the object's movement. This data is then interpreted by an AI engine trained to recognize specific gestures and movements, such as swipes, waves, or hovers.The AI interprets these gestures and translates them into corresponding commands, allowing users to control their devices without physical contact. For example, users can turn on a screen, adjust the volume, or navigate menus with simple hand movements.
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