Elliptic Labs Signs Expansion Contract with Commercial Segment of PC Customer

Elliptic Labs (OSE: ELABS), a global AI software company and the world leader in AI Virtual Smart Sensorstm currently deployed in over 500 million devices, has signed a new expansion contract with the Commercial segment of an existing PC customer. This contract will enable this customer to deploy Elliptic Labs' AI Virtual Presence Sensor Platformtm on more laptop models, to be launched between 2024 and 2026.

"Our AI Virtual Smart Sensor Platform is proving its growing value for our PC customers and the PC industry at large," said Laila Danielsen, CEO of Elliptic Labs. "By introducing our deep neural networks ? Elliptic Labs' Small Sensing Models ? to more production laptop models, we are adding contextual intelligence to these devices. This is a key part of the transition to modern AI PCs. The transition to AI-capable devices is the main driver of the expected upcoming growth cycle in the PC/laptop industry, and Elliptic Labs is well positioned to drive this transition with its technological leadership in AI, ultrasound, and sensor fusion, making devices smarter, greener, and more human friendly."

AI Virtual Smart Sensor, AI Virtual Human Presence Sensor, and AI Virtual Smart Sensor Platform are trademarks of Elliptic Labs.

All other trademarks or service markets are the responsibility of their respective organizations.

Elliptic Labs' AI Virtual Human Presence Sensor

Elliptic Labs' AI Virtual Human Presence Sensor detects when a user is present in front of a PC/laptop system. This allows the device to sleep when a user is absent, conserving battery life and electricity and safeguarding it from unpermitted access. Human presence detection is becoming a core capability in the PC/laptop industry, but it is currently featured only in high-end devices due to the cost, risk, and design limitations associated with a dedicated hardware presence sensor. Elliptic Labs' software-only AI Virtual Human Presence Sensor delivers robust human-presence detection that allows OEMs to easily and affordably incorporate the capability across a wide range of devices.

About Elliptic Labs

Elliptic Labs is a global enterprise targeting the smartphone, laptop, IoT, and automotive markets. Founded in 2006 as a research spin-off from Norway's Oslo University, the company's patented software uses AI, ultrasound, and sensor fusion to deliver intuitive 3D gesture, proximity-, presence-, breathing-, and heartbeat-detection experiences. Its scalable AI Virtual Smart Sensor Platform creates software-only sensors that are sustainable, human-friendly, and already deployed in hundreds of millions of devices around the world. Elliptic Labs is the only software company that has delivered detection capabilities using AI software, ultrasound, and sensor fusion deployed at scale. The company joined the Oslo Børs main listing in March 2022.

Elliptic Labs is headquartered in Norway with presence in the USA, China, South Korea, Taiwan, and Japan. Its technology and IP are developed in Norway and are solely owned by the company.