Annual Report Shows Precise Biometrics on the Rise

Precise Biometrics has issued an Annual Report for 2016, outlining a positive vision of the company’s future.

Annual Report Shows Precise Biometrics on the RiseThe report begins with an echo of CEO Håkan Persson’s comments from the company’s Q4 and year-end report issued in February, asserting that “2016 was the company’s best year so far”. Indeed, it marks the culmination of a years-long climb out of the red, with Precise Biometrics gradually rising from a new loss of SEK 46.9 million in 2012 to the company’s first annual profit of SEK 17.9 million in 2016.

Now, the report continues, “in 2017 Precise Biometrics will be growing the organization so that it can handle the growth in sales that the company expects in the future.” It’s an approach reflected in the Precise Biometrics Board’s recent proposal for a shareholding incentive program for employees, aimed at attracting and retaining top talent.

Other causes for optimism include the company’s recent acquisition of liveness detection specialist NexID, a move that “reinforces Precise Biometrics’ competitive strength”; the Precise Biometrics’ efforts in biometric smart cards, a market that “has the potential to be at least as big as the company’s market for smartphones”; and continuing growth in the fingerprint biometrics market in general, which the company says “is expected to quadruple by 2020”.

April 12, 2017 – by Alex Perala