IDEX says its financial results are consistent with those disclosed in a preliminary report issued in February. For the 2019 fiscal year, IDEX Biometrics ASA saw revenues of about NOK 3.79 million, up slightly from 2018’s revenues of about NOK 3.57 million. Its net result for the year came to a loss of roughly NOK 296.5 million, compared to a net loss of about NOK 252.3 million the year before.
In announcing the annual report, IDEX Biometrics’ board of directors emphasized the further progress made in the still-emerging market area of biometric cards through 2019, asserting that “significant progress was made in the development of the required ecosystem”, while IDEX achieved “high-volume production” of biometric smart cards with its manufacturing partners and established important licensing agreements with IDEMIA and Chutian Dragon. The board also noted IDEX’s biggest sales contract to date, with an undisclosed IT and financial news firm.
In 2020, IDEX says it has already established a supply agreement with “one of the largest global payment card manufacturers” concerning its biometric payment card technology. It has also seen its technology used in the first biometric payment card to be certified for China UnionPay.
“The board is excited about the company’s prospects going forward,” the board said, adding that its team is now being led by a “new and experienced CEO“.
In announcing the annual report, IDEX also said that it has set a date for its Annual General Meeting: May 15th, 2020. Further details will be issued closer to that date.
April 22, 2020 – by Alex Perala