NEXT Biometrics Corporate Update Predicts Positive Gross Margin in Q1 of 2018

NEXT Biometrics has issued its corporate update for the third quarter of 2017.

NEXT Biometrics Corporate Update Predicts Positive Gross Margin in Q1 of 2018The company saw revenues of NOK 25.4 million for the quarter, down from revenues of NOK 28.4 million in Q3 of 2016, but up slightly from revenues of NOK 24 million in Q2 of this year. The company’s net loss for the quarter came in at NOK 41.6 million, compared to a net loss of NOK 44.5 million in Q3 of 2016, and a net loss of NOK 41.9 million in Q2 of this year.

Looking to the first three quarters of the year, revenues came in at NOK 73.5 million, up against revenues of NOK 60.3 million from the corresponding period of 2016. Likewise, while the first three quarters of 2016 saw a net loss of NOK 145.4 million for the company, that was down to a loss of NOK 127.9 million for the corresponding period this year.

In a statement announcing Q3 update, NEXT Biometrics highlighted notable developments during the quarter including fingerprint sensor shipments to Fujitsu and a “US Tier 1 notebook manufacturer”, and its “casino smart card deal with First Biometrics”, a newcomer to the industry. And CEO Ritu Favre continued to emphasize the market opportunities resulting from NEXT’s cost-efficient flexible fingerprint sensors, with NEXT having “firmly established” a mass production capacity for the technology earlier this year.

Looking ahead to the first quarter of next year, NEXT Biometrics says it expects to start sampling a new smart card module, and that it’s on track to reach a positive gross margin in that quarter.