Eier ikke Lenovo, Motorola? Selv om det ikke er et enormt markedet (Motorola) kan synerigene bli enorme. Naturlig at de putter software i både Lenovo og Motorola først for å vise verden hvor godt de snakker sammen.
Motorola slapp vel en type Seamless i sine mobiltelefoner for en stund siden?, men det var kkke Elabs tech. Har denne softwaren blitt en suksess?
Må vel være noe annet enn Elabs, virker ikke være 100% seamless
I’m just speculating, but looking at the short Q&A without answers to 2nd OEM launch etc. combined with the upcoming CMD in two months… there is a good chance that either the 2nd OEM or Seamless sensor is launched before the upcoming CMD event. Could also be both as they are in integration phase of the Seamless products.
And the latest comments regarding 2nd OEM were given at 20:00 mark of the Q4/2023 webcast. I.e. launch in 2024.
I think the main idea of CMD is to raise attention among institutional investors. The business case would be much more compelling for them after the products are on markets with 2 PC OEMs vs. just one.
What do you think? I mean if they present there with just one PC OEM launched and cannot give any exact near-term guidance etc. then its a little waste of time? Or the message towards institutions is not as compelling and launching the 2nd OEM only afterwards would not be best timing for a CMD.
In case 2nd OEM has not been launched, then I’m expecting them to update their financial targets in the CMD.
I have had the same thoughts and also believe that we before CMD will see the launch of either the seamless sensor or a new OME - hopefully both. And its not necessarily certain that Lenovo is the seamless customer (even though everybody think so - including DNB future waves that expressed in the podcast that they were confident about this). Considering that we are now entering the «back to school» sales period, it also makes sense that a launch will happen right after the summer.
From Q1 presentation, i remember Laila saying that They are allowed to do a «big news splash» when the new customer to be announced. The CMD event could be the platform for this «big news splash».
In my eyes the thing here was that the Seamless itself will be the «big news splash» in the OEMs marketing campaigns, not just Elabs bragging about it.
my bet is that the Seamless has been announced - with its big marketing jippo from the customer - shortly ahead of the cmd. So buckle up. This is the big and visible news…a first PC order from a 2nd laptop manufacturer is good, great, but not so visible. What would also be interesting to know regarding Seamless is whether it could be installed in phones as an app. I.e., both in Android and Apple phones. If so, Seamless could gain more speed. I have tried to ask this question to Elabs, but as always, silence…
Noen som har det klart for seg hvilke store fordeler Seamless tilbyr (i funksjonalitet) utover hva som presenteres for Smart Connect?
I have included my own notes that it can be provided to almost any existing device as an OTA update. As its it my notes I have checked it to be a fact. I just cannot remember what webcast it was, but it was likely some webcast Q/A session from 2023.
My understanding is that this was for any of the software sensors as it shouldn’t matter which one is provided as an OTA update. They all use the same HW of any device etc.
I notice a couple changes during last couple quarterly presentations:
Calculating ASP. I’m assuming maybe 60% of revenues to come from Seamless and 40% from HPD. Calculation is based on the fact that at least 500m NOK of revenues can be achieved from Lenovo. However we do not know the maximum potential so maybe it increases conservatism to this calculation.
I’m assuming 95% of revenues to come from PC/Laptop/Tablets etc.
Revenues from PC. Illustrative example. It gives an estimate where 100% penetration into existing PC OEM products would give us ~60mil. € in revenues. However I don’t see 100% penetration as most likely option now. Maybe 40-60% is most likely after some years (?).
Following results based on EBITDA-factor of 20. IMO this would assume highly profitable business with only moderate growth prospects in 2026.
If we assume higher growth prospects, as should be the situation in 2026 if the company succeeds. Then we apply EBITDA 30x.
Some sensitivity checking. This is assuming the 2026 estimated 231mil. PC/Laptops in two key segments, as above.
Anyways, the company will be a very likely multibagger in case they get even 30-40% penetration within their PC OEM Customers.
First of all, thanks for sharing.
Some quick comments in this game of playing with the numbers…which I practice as well:
The 100% market should be without Apple.
The EBIT (or EBITDA)% should vary with the volumes…for example at the 20% figure I would expect the % to be very low – based on annual opex of NOK 100m+ – and certainly surpassing 70% at the high end with annual opex of some NOK 150m.
What would be interesting to know (in the future) is to what extent ELABS would be able to charge for the Android seamless app downloaded (or installed) - per unit.
And one more thing from this the Q2 presentation, Laila mentioned more upcoming devices with more than one AI function per unit. So we have one expansion in mobilephone segment and two expansions from laptops. Just speculating now, but it sounds very likely to me its lenovo and motorola (mobile phone segment), could you seamless be releated to these? I remember earlier in the forum there has been a discussion regarding Lenovo using their own/external seamless feature in some models. However as of now, nothing has been announced. And with that Laila confirming that they are in some of recently announced models. I mean its just so confusing 
Sikkert noen som har vært innom her:rofl:
Ikke annet at det var en mer overbevisende Q2 og aksjen er på vei til å reprise seg etter massakre fra Passesta/ Apollo
Må bare bli vant til litt oppgang fremover
Elabs er ikke riktig priset, det kan vi vel alle være enige om. Elabs Mcap var på 1,5mrd UTEN kontrakter, KUN software klar for å stjele markedsandeler. Nå har de realisert utrolig mye siden da, og er priset til 1,4 mrd.
Enig, IPO på 15kr og forrige emisjon på 22,3kr.
Har skjedd veldig mye siden da.
Mao først skal den ‘normal prises’ igjen før vi får en ‘reprising’ basert på hva som har skjedd siste tiden 
Den reisen blir jeg gjerne med på.
More speculation: As Laila is asked about AI laptops she seems to become quite relaxed and excited. Her “most excited” section in the short q&a.
Why didn’t she bother to mention upcoming Lenovo models as an example? But instead she started to discuss about the chipset providers, clearly focusing on Intel co-operation and quickly mentioning AMD and Qualcomm.
We know they hired a long-term executive from Intel earlier. That kind of top-level recruitment is done for establishing strategical co-operation. Was it like two years ago?
From The redeye webcast we also know how Intel team has been closely working with Elabs, likely for many OEM laptops they Will provide.
Just a suggestion, but they could be announcing something big together with Intel or other chipset providers in the CMD. Intel has been their focus for almost a decade, so that would be most likely option.
It could be big. So big that the financial targets will be updated.
Time will tell. Just throwing out this how i “emotionally sensed” Laila’s latest outcome.
Could be also the Seamless launch/2nd oem launch as discussed.
Intel plans on bringing its Lunar Lake chip to over 80 new laptop designs from over 20 laptop manufacturers, with the goal of shipping 40 million AI PC processors by the end of this year.
And for The ending: do you remember what Laila said about entering to consumer segment during H2?
We are entering with force.
Det var priset utfra fagre førhåpninger. Disse låter vente på seg og ter seg idag ganke urealistiske. Jeg mener at priset på akjen idag er rettvisende, kanskje litt høyt. Men håper selvføgelig på oppgang så jeg unngår at selge med førlust.
