Precise Biometrics Looks Beyond Congested Mobile Market in Q1 Update

Precise Biometrics has issued its Q1 update for 2017, echoing trends seen in the reports of other mobile-focused biometrics companies.

Precise Biometrics Looks Beyond Congested Mobile Market in Q1 UpdateThe company saw net sales of SEK 19,185,000, compared to SEK 24,230,000 in Q1 of 2016. It also dipped into an operating loss of SEK -2,671,000, compared to a profit of SEK 6,263,000 a year ago.

In a statement, the company attributed the lower sales to “the ongoing market and customer transformation.” That may be a reference, in part at least, to inventory gluts cited by IDEX and Fingerprint Cards as a main factor behind their lower revenues from mobile integrations of fingerprint sensors. Nevertheless, Precise Biometrics CEO Håkan Persson asserted that revenues from many Precise Biometrics clients “are growing steadily and compensating to a large extent for the expected loss of revenues from Fingerprint Cards.”

Persson also indicated that Precise Biometrics is getting involved in the increasingly exciting biometric payment card market, thanks in large part to its partnership with Elan MicroElectronics, which has delivered such a card to a South Korean bank. “We are involved in several card projects through existing customers and expect initial volumes during the second half of 2017,” Persson said.

That development, together with the company’s investment in liveness detection technology from its NexID Biometrics acquisition and other efforts, should help the company to attain net sales for 2017 that are similar to those of last year, with Persson predicting “a positive net result for the full year.”

May 16, 2017 – by Alex Perala