Audited Results Illustrate FacePhi’s Best Year Ever

FacePhi has announced its audited results for 2021, and is celebrating what turned out to be its most successful year yet.

The company brought in €13.16 million in sales, compared to €7.26 million in sales the year before – an 81 percent increase. Its latest result is also well above the previous sales record achieved in 2019, when the biometric identity verification specialist saw €8.19 million in sales.

EBITDA, meanwhile, came in at €1.88 million for 2021, compared to €0.86 million EBITDA in 2020; though in a statement the company explained that this figure has been “adjusted for the extraordinary cost incurred by the non-competition and non-compete agreement reached for the compensation payment to one of the company’s Managing Directors and other expenses”.

While FacePhi’s portfolio includes other identity solutions, the company is best known as a pioneer in selfie-based biometric onboarding, establishing itself as a particularly strong presence in the Spanish and Latin American markets. In recent years, FacePhi has also sought to expand into new market areas, launching an APAC-focused subsidiary based in Seoul in 2019.

That having been said, in its announcement of its 2021 results, FacePhi said that its “unstoppable business growth is due, in large part, to the push it made in 2021 to strengthen its structure.” The company increased its workforce by 207 percent year-over-year, bringing the total staff roster to “more than 175 employees”.

FacePhi’s focus on attracting and retaining talent has been evident in recent months. With an eye to maintaining a healthy work-life balance, FacePhi announced at the end of last year that it would transition to a four-day work week; and, a month ago, the company revealed that it was relocating its head office in Alicante to the Panoramis Life & Business workspace the picturesque port area of the city.

Looking ahead, FacePhi says that it plans for further “unstoppable growth” after it had “taken the step from startup to scaleup” in 2021.

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April 29, 2022 – by Alex Perala