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Elliptic Laboratories AS ( (DE:EIP) ) has shared an announcement.
Elliptic Labs, listed on the Oslo Stock Exchange, develops software-based virtual sensors that run compact neural networks directly on devices to power privacy-preserving, energy-efficient sensing across products such as laptops, smartphones, and other connected hardware. The company operates globally, with technology and intellectual property developed and owned in Norway, supporting scalable integration across multiple device categories.
In the first quarter of 2026, Elliptic Labs reported revenue of NOK 17 million while achieving a 41% year-over-year increase in laptop shipment volumes and a record number of 17 laptop and 22 smartphone model launches. Management strengthened the balance sheet with a NOK 60 million private placement and implemented about 15% annualized operating cost reductions, positioning the company for improved efficiency and long-term scalability.
Operationally, demand for Elliptic Labs’ technology remained robust in laptops and stable in smartphones, although revenue growth was tempered by contract phasing, milestone timing, and a higher share of volumes within minimum commitment thresholds. The firm expects the full cash impact of its cost-cutting program to materialize in the second half of 2026, supporting margin improvement as shipment volumes continue to grow.
Strategically, Elliptic Labs advanced its Edge AI roadmap and pushed into adjacent device categories such as smart glasses, smart TVs, and smartwatches, leveraging partner hardware demonstrations and engagement with chipset vendors and prospective customers. These initiatives aim to extend its software-only sensing platform into new AI-driven user experiences, supporting future diversification beyond its core laptop and smartphone markets.
Looking ahead, the company characterizes 2026 as a transition year focused on execution in both established and emerging segments, with gradual revenue improvement anticipated in the second half as contract and conversion dynamics normalize. Initial commercial execution for its new Edge AI and adjacent vertical offerings is targeted for late 2026, with revenue contributions expected from 2027, underscoring a medium-term growth narrative that is important for investors monitoring its shift toward broader AI-enabled device ecosystems.
More about Elliptic Laboratories AS
Elliptic Laboratories AS is a Norway-headquartered global Edge AI company that delivers low-power, on-device sensing solutions for consumer and enterprise devices. Its AI Virtual Smart Sensor Platform enables software-defined, always-on contextual awareness without additional hardware or constant cloud connectivity, and is deployed in more than 500 million devices worldwide.
Average Trading Volume: 505,011
Current Market Cap: NOK476.3M
Learn more about EIP stock on TipRanks’ Stock Analysis page.