Swedish biometrics company Precise Biometrics has announced its earnings results for the fourth quarter of 2014, and there’s some encouraging news: sales were up. The company sold SEK 9.9 million worth of product in the quarter, bringing the year’s net sales to SEK 31.4 million.
In addition to launching some major new products, the quarter also saw the company make some big sales, shipping a million SEK’s worth of Tactivo readers to the US Department of Defense, and also delivering Tactivo readers to a South American insurance firm at a value of SEK 1.1 million. Precise Biometrics also cemented some agreements for integration of its fingerprint-scanning technology, ensuring its implementation in the Oppo N3 smartphone and licensing its Precise BioMatch Mobile algorithm to Synaptics for integration in its touch fingerprint offerings.
It’s not all great news, however. The company’s operating costs for the quarter were SEK 9.7 million, and were SEK 44.5 million for the year. All told, the company’s net result for the year was SEK -44 million.
Still, that could simply reflect growing pains. The biometrics field is expanding rapidly, and it makes sense for companies expecting major growth to forbear some heavy investment costs now, at the outset. Precise Biometrics still has SEK 59.7 million to play with, and given its flurry of activity over the last few months we can expect much more to come over 2015.
January 28, 2015 – bye Alex Perala