FacePhi Reveals Record Breaking Growth Numbers for 2019 Fiscal Year

“In a statement announcing the 2019 results, FacePhi noted that it had established 13 major contracts through the course of the year in the LATAM sector, and suggested that it is aiming to replicate the growth trend it has seen in this area in the APAC market…”

FacePhi has delivered on its promise of strong results for the 2019 fiscal year. Having announced that they would be presented at a special event for investors in Madrid earlier this month, the Spanish company has now put some figures to its success over the past year.

Chief among those figures is FacePhi’s turnover of 8.2 million euros, reflecting an 82.88 percent increase over its reported turnover for 2018. Also important is FacePhi’s EBITDA of 3.11 million euros, an increase of 143.32 percent over 2018 – making FacePhi “the highest-growth value in the Spanish Stock Exchange” in 2019, according to the company.

The unaudited results signal a sustained and impressive growth trajectory for the biometrics specialist, which has generated considerable excitement in recent years as one of the pioneers of selfie-based authentication.

In a statement announcing the 2019 results, FacePhi noted that it had established 13 major contracts through the course of the year in the LATAM sector, and suggested that it is aiming to replicate the growth trend it has seen in this area in the APAC market, having opened a new Korea-based office last year.

Despite the impressive performance, in his commentary on the results, FacePhi CEO Javier Mira was not content for the company to rest on its laurels, stating that his aim is for the company to keep this momentum going. “We have to keep on working in Latin America, develop our project for Asia from Seoul, and consolidate our capitalization commitment to grow still further with our future stock market listing in the Euronext Growth,” he said, referring to FacePhi’s plans to start trading on the SME-focused securities market.

“The most immediate objective is to continue advancing in technological applications within the FinTech field to sustain our leadership in authentication and identification services,” Mira added.

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January 20, 2020 – by Alex Perala