“We are making our business model more recurrent and scalable, as well as building a cohesive and multidisciplinary professional team that allows us to take our technology to more industries, regions and increase the use cases in which it is used.” – Javier Mira, CEO, FacePhi
FacePhi continues its remarkable ascent: the company has announced preliminary, unaudited results for the first half of 2022, with the period having seen ongoing growth for the biometric identity verification specialist.
FacePhi says that EBITDA for the first six months is up over 180 percent year-over-year, reaching €455,869. Expenses for the period were also up, due to FacePhi’s investments global commercialization efforts, but at just under 70 percent were still outpaced by revenue growth. Sales, meanwhile, were up almost 90 percent during the period.
As for the aforementioned global growth efforts, these were represented most notably by FacePhi’s new subsidiaries. The company announced a Latin America-focused office based in Montevideo, Uruguay, in the first quarter, and went on to launch a UK-based, EMEA-focused subsidiary in June.
Alongside those developments, FacePhi has been hiring. The company now has a workforce of over 200 across its headquarters and its subsidiaries, and has taken structural measures to attract talent, including being classified as a ‘strategic company’ that can issue special visas for ‘Highly Qualified Professionals’ late last year, and shifting its staff to a four-day work week.
“This year 2022 begins in the best possible way, with very positive results that are clear proof of where we are focusing our efforts as a company,” commented FacePhi CEO Javier Mira. “We are making our business model more recurrent and scalable, as well as building a cohesive and multidisciplinary professional team that allows us to take our technology to more industries, regions and increase the use cases in which it is used.”
News of FacePhi’s success in the first half comes after the company’s audited results for 2021 showed an 81 percent increase in sales for the year, bring the total for the year to €13.16 million. FacePhi has enjoyed a multi-year ascent thanks in part to strong enthusiasm for the kind of face-based identity verification technology that the company helped to pioneer.
Aug. 5, 2022 – by Alex Perala