Fingerprint Cards anticipates revenues in the range of SEK 310-350 million for the first quarter of 2021, the company has announced.
Such forecasts are a new venture for the biometrics specialist. In its announcement, Fingerprint Cards explained that its management decided to start issuing revenue forecasts “to increase transparency” about its efforts in the areas of mobile fingerprint sensors and biometric solutions for payments and access control.
If FPC can achieve revenues higher than the bottom of its projected revenue range, it will represent a year-over-year improvement. In its update for the first quarter of 2020, the company reported revenues amounting to SEK 310 million, as well as an EBITDA result of SEK 11.6 million.
In its most recent report, covering the fourth quarter of 2020, Fingerprint Cards disclosed significant write-downs of its Delta ID iris recognition business and its under-display fingerprint sensor technology. The company’s CEO, Christian Fredrikson, also flagged the threat posed by the global shortage of semiconductor chips – an issue raised again in FPC’s new revenue forecast.
“As previously communicated, demand for our products is healthy, but we see continued challenges related to the current semiconductor shortage in the world,” the company stated. “The work of continuing to broaden our supplier base is very important, partly to reduce risks in our supply chain and partly to position the company for growth.”
FPC’s statement went on to explain that the company is intensifying its efforts to find new supply chain partners in China and beyond, calling the strategic maneuver “a high priority” for the year ahead.
March 1, 2021 – by Alex Perala