Norway · Delayed Price · Currency is NOK Elliptic Laboratories ASA Earnings Call Transcripts
Fiscal Year 2026
-
Q1 saw strong laptop shipment growth and record model launches, but revenue declined 37% year-over-year due to contract timing and milestone-heavy structures. Cost reductions and a successful rights issue improved financial flexibility, with edge AI and adjacent verticals expected to contribute from 2027.
Fiscal Year 2025
-
Revenue for 2025 declined to $102.7 million due to revised milestone recognition, with a net loss of $138.2 million after derecognition of deferred tax assets. Shipment volumes and model launches increased, and strategic focus is on cost reduction, expanding into new verticals, and productizing the AI platform.
-
Q3 revenue rose 50% year-over-year to NOK 42.3 million, driven by milestone laptop contracts, with EBITDA up to NOK 12.7 million. High shipment volumes and a growing install base set the stage for future pay-as-you-go revenue, while a strategic review is underway to refine commercial priorities.
-
Solid commercial progress in H1 2025 with major new contracts and strong device launches, despite a one-time revenue deferral impacting Q2. Majority of new contract revenue to be recognized in Q3, supporting double-digit growth for 2025.
-
Q1 2025 saw 20% revenue growth and improved EBITDA, with strong cash flow and a robust balance sheet. Rapid expansion in both laptop and smartphone segments, new product launches, and deepened partnerships position the company for continued growth.
Fiscal Year 2024
-
Revenue nearly doubled in 2024, driven by strong smartphone and laptop launches, with EBITDA margin improving and cash flow strengthening. Growth is expected to continue in 2025, supported by new contracts, product innovation, and favorable market trends.
-
Q3 2024 saw 29% year-over-year revenue growth and a 43% increase year-to-date, with positive EBITDA and strong market expansion into PC accessories and AI-driven solutions. Improved contract terms are expected to enhance cash flow in Q4.
-
A major AI software platform update introduces the Virtual Seamless Sensor, enabling cross-device interoperability and deeper integration with Lenovo, including the launch of Smart Share. The company is scaling rapidly in the laptop market, increasing pricing power, and expects recurring revenue growth as more models are launched.
-
Strong Q2 momentum in the PC laptop market with two new contracts, including a first consumer segment win. Revenue grew 51% year-to-date, EBITDA turned positive, and the company maintains a robust cash position. AI-capable device demand and market recovery support a positive outlook.