IDEX Biometrics Interim Report as of 30 September 2022
10 Noviembre 2022 - 01:00AM
IDEX Biometrics Interim Report as of 30 September 2022
Oslo, Norway – 10 November 2022 - IDEX Biometrics
ASA’s interim report as of September 30, 2022 is enclosed
with this notice.
A webcast presentation will be held by Vince Graziani, Chief
Executive Officer, today at 09:00 CET. The webcast presentation can
be viewed at the following link: https://tinyurl.com/5t53tser
The interim report and the presentation to be used in the
webcast are available on the IDEX Biometrics website:
www.idexbiometrics.com/investors/interim-results/
The interim report and the presentation are attached to this
notice (as .pdf files), IDEX 2022 Q3 Interim Report -
pub, IDEX 2022 Q3 Presentation - pub
Commercial Update
2022 has become a year of broad-based commercialization for
biometric smart cards. In our primary target market, many banks
have begun, or are planning, launches and commercialization of
biometric payment cards. During the year, the rapidly increasing
demand for cyber security, digital authentication, and crypto
currency cold wallet solutions has sparked a wave of new
applications and use cases for biometric smart
cards.
In the payments space, we expect to have a total of 10 launches
this year, or by early 2023, from banks and issuers together with
card-maker IDEMIA and customers of our channel partner, Zwipe.
Seven new launches are anticipated for the fourth quarter of 2022.
So far this year, three launches have been announced.
We now have 9 design wins with card makers for our Infineon
SLC38 reference platform and Turnkey Solution. During the quarter,
six of these card makers have already placed initial orders for
IDEX sensors. We also continue to see rapidly increasing demand for
IDEX biometric security solutions for use in digital
authentication, cyber security, and digital HASHwallets, to
facilitate adoption of Web3 and digital assets.
In September we held a capital markets day in
Oslo with several of our partners attending. The presentations from
management outlined a clear roadmap and a path to commercial
acceleration during 2023 and beyond. Our panel discussion with
partners IDEMIA, Rocker and eSignus focused on the commercial
traction, and market adoption for biometric cards. These market
mega trends for both payments and digital authentication represent
a massive market opportunity for IDEX biometric solutions over
one-to-five-year horizon.
Third Quarter Financial Performance
For the third quarter ended September 30, 2022, the Company
recorded consolidated revenue of $928 thousand. Sequentially, third
quarter revenue decreased approximately 16% from the second quarter
of 2022, reflecting the timing of shipments to our two largest
customers in the payment card segment. By comparison, third quarter
2021 revenue was $732 thousand, for a year-over-year quarterly
increase of 27%.
Gross profit margin, as a percentage of revenue, was
approximately 12% for the third quarter of 2022, compared
sequentially to approximately 7% in the second quarter of 2022. For
the third quarter of 2021, a similarly calculated gross profit
margin was approximately 59%, with the higher figure reflecting
sales mix. The lower margins in 2022 reflect a shift in mix to
lower margin payment card products and higher costs of wafers,
assembly services, and certain components, as well as the write-off
of previous-generation products held in inventory.
Net loss for the third quarter of 2022 totaled ($9.0 million),
representing a loss per share of ($0.01), in contrast to a net loss
of ($7.5 million) for the third quarter of 2021, representing a
loss per share of ($0.01), and a net loss of ($9.2 million) for the
second quarter of 2022, representing a loss per share of
($0.01).
The company’s cash balance totaled $9.1 million as of September
30, 2022, in contrast to $12.9 million as of September 30, 2021,
and $33.8 million as of December 31, 2021.
For further information contact:Marianne Bøe,
Head of Investor RelationsE-mail:
marianne.boe@idexbiometrics.comTel: + 47 918 00186
About IDEX Biometrics IDEX Biometrics
(OSE: IDEX and Nasdaq: IDBA) is a leading provider of fingerprint
identification technologies offering simple, secure, and personal
authentication for all. We help people make payments, prove
their identity, gain access to information or unlock devices with
the touch of a finger. We invent, engineer, and commercialize these
secure, yet incredibly user-friendly solutions. Our total
addressable market represents a fast growing multi-billion-unit
opportunity.
For more information, visit www.idexbiometrics.com
TRADEMARK STATEMENT
IDEX, IDEX Biometrics and the IDEX logo are
trademarks owned by IDEX Biometrics ASA. All other brands or
product names are the property of their respective
holders.
This information is subject to the disclosure requirements
pursuant to Section 5-12 the Norwegian Securities Trading Act
- IDEX 2022 Q3 Interim Report - pub
- IDEX 2022 Q3 Presentation - pub
Idex Biometrics Asa (LSE:0MTP)
Gráfica de Acción Histórica
De Feb 2024 a Mar 2024
Idex Biometrics Asa (LSE:0MTP)
Gráfica de Acción Histórica
De Mar 2023 a Mar 2024