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OSLO - Elliptic Labs (OSE:ELABS), a technology company showing impressive revenue growth of over 57% in the last twelve months, has signed a multi-year agreement with an existing laptop customer to expand the licensing of its AI Virtual Smart Sensor Platform to include PC accessories, the company announced Monday. According to InvestingPro data, the company maintains strong financial health with a current ratio of 7.27, indicating robust liquidity.
The agreement builds upon a previous arrangement from earlier this year when the unnamed customer decided to integrate Elliptic Labs’ AI platform directly into its proprietary software stack rather than deploying it through a third-party application.
"By deepening and broadening the integration of our AI Virtual Smart Sensor Platform into their device and accessories portfolio, the customer is demonstrating strong commitment to deploy our technology," said Laila Danielsen, CEO of Elliptic Labs.
The Norwegian AI software company, which specializes in virtual sensor technology, stated that its platform is currently deployed in over 500 million devices globally. The technology uses deep neural networks to create AI-powered virtual sensors that can enhance device functionality.
According to the press release, the customer will implement Elliptic Labs’ technology more extensively across its next-generation commercial laptop portfolio. By embedding the AI platform within its core software, the customer aims to streamline deployment and reduce reliance on external software.
Elliptic Labs is headquartered in Norway with offices in the USA, China, South Korea, Taiwan, and Japan. The company is listed on the Oslo Stock Exchange.
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