NEXT Biometrics’ Q4 Results Show ‘Pivot to Revenue Generation’

“We have delivered consistently on our technology roadmap through 2018. Our FAP 20 sensor is with customers for testing and the Dual Interface solution for payment cards is soon ready for sampling. Increased year-over-year revenues for 2018 and the significantly improved gross margin confirm we are pivoting from product development to revenue generation. Going forward, we expect to leverage our large-size, highly secure and cost-effective sensor technology in all market segments to drive growth and position for the emerging hyper-growth of the payment smart-card market.” – Ritu Favre, CEO, NEXT Biometrics

NEXT Biometrics' Q4 Results Show 'Pivot to Revenue Generation'

NEXT Biometrics has issued its Q4 and year-end update for 2018, with results indicating that the company is “pivoting from product development to revenue generation,” as CEO Ritu Favre put it.

The company saw revenues of NOK 29.3 million for the quarter compared to revenues of NOK 24.7 million in Q4 of 2017. Gross margin, meanwhile, was way up, having risen from negative four percent in Q4 of 2017 to 36 percent in the latest quarter.

The company’s net result for Q4 2018 was a loss of NOK 37.9 million, compared to a loss of approximately NOK 53 million in Q4 of 2017.

Looking at operational highlights for the year, NEXT Biometrics pointed to its sampling of the One Touch ID FAP 20 fingerprint sensor, partnerships with Infineon and MK Group aimed at solidifying its position in the emerging payment cards market, and orders from Telpo, Tysso, and Digitsecure that strengthened its government ID business.

CEO Ritu Favre added that NEXT Biometrics’ dual interface solution for biometric payment cards “is soon ready for sampling,” and asserted that going forward, NEXT Biometrics’ leadership “expect to leverage our large-size, highly secure and cost-effective sensor technology in all market segments to drive growth and position for the emerging hyper-growth of the payment smart-card market.”

February 28, 2019 – by Alex Perala