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Elliptic Laboratories AS ( (DE:EIP) ) just unveiled an announcement.
Elliptic Labs reported significant financial growth in 2024, with revenues from customer contracts reaching NOK 131.9 million, marking a 93% increase from the previous year. The company achieved EBITDA profitability for the first time, demonstrating the strength of its high-margin, software-based business model. The successful launch of new smartphone and laptop models, along with expansion contracts with major global tech companies, underscores Elliptic Labs’ strategic growth and market expansion. This progress highlights the company’s ability to deepen customer relationships and expand its AI Virtual Smart Sensor platform, enhancing its industry positioning and stakeholder value.
More about Elliptic Laboratories AS
Elliptic Labs is a company specializing in AI Virtual Smart Sensor technology, enhancing user experiences by utilizing proprietary deep neural networks. Their platform is deployed in over 500 million devices globally, working across various devices, operating systems, and applications. Headquartered in Norway, with a presence in the USA, China, South Korea, Taiwan, and Japan, Elliptic Labs is listed on the Oslo Stock Exchange.
YTD Price Performance: -1.74%
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €89.86M
Learn more about EIP stock on TipRanks’ Stock Analysis page.