FacePhi Verifies Revenue Figures for 2020

FacePhi has confirmed its figures for the 2020 fiscal year. The company released an initial Preview of Results back in February, when it indicated that it brought in €7,266,240 in revenue through the sale of licenses, which corresponded to an EBIDTA of €903,822.

The company has now verified those figures with the release of its audited Annual Accounts, which have the same €7,266,240 revenue total and a slightly lower (but comparable) EBITDA of €858,741. Those figures are 11.33 percent and 72.08 percent lower than the respective numbers for 2019, though FacePhi noted that much of that drop can be attributed to its larger headcount. The company has doubled its staff to meet higher demand moving forward.

In that regard, FacePhi signed 22 new contracts in 2020, a number that is up 69 percent from the 13 new contracts it signed in 2019. Revenues were still down due to COVID-19 budget constraints, which prompted many organizations to purchase smaller product packages. However, FacePhi believes those customers will expand their licenses as the economy recovers and the public expresses a greater interest in digital identity technologies in the next few years.

Other 2020 highlights include FacePhi’s iBeta conformance, and its acquisition of Ecertic. The company also received the National SME of the Year Award from the Spanish Chamber of Commerce, and secured €33 million in funding to fuel its ongoing international expansion.

“The important milestones that have characterized our 2020 financial year are a clear sign that the company, in its current process of growth and expansion, has taken the path that investors and clients expect: a growing company of recognized prestige, with solutions focused on the commercial and technological needs of the present,” said FacePhi CEO Javier Mira.

FacePhi is now looking to continue its upward trajectory in 2021. The company has now signed its first contract in Vietnam, and recently received ISO 27001 certification.

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May 6, 2021 – by Eric Weiss