IDEX Reports ‘Extremely Strong Interest’ in Biometric Card Tech in Q2 Update

IDEX has issued its Q2 results for 2018.IDEX 'Extremely Strong Interest' In Biometric Card Tech in Q2 Update

The period saw revenues of NOK 289,000, compared to revenues of about NOK 4.7 million in Q2 of 2017. Its net result for the period had improved year-over-year, however, with the company reporting a loss of NOK 65,156,000 for Q2 of this year, compared to a loss of NOK 65,892,000 in Q2 of last year.

Looking to the first half of the year more broadly, IDEX’s revenues came in at NOK 2.1 million, compared to revenues of about NOK 11.5 million in the first half of last year. Its net loss was NOK 122,003,000, compared to a loss of NOK 126,357,000 in the first half of 2017.

In announcing its results, IDEX emphasized its ongoing focus on the emerging biometric cards market, in which it “has finalized commercial discussions with specific customers, and is awaiting volume orders for its sensors,” according to the company’s report. IDEX added that it continues to see “extremely strong interest from customers in the biometric card space,” particularly in the Asia market; and that it “anticipates pilots of its biometric solution for dual-interface cards to commence in the second half of 2018 with subsequent customer trials.”

The update comes just a few weeks after IDEX’s announcement that its fingerprint sensor technology had been deployed in a biometric card project in the Middle East.

August 16, 2018 – by Alex Perala