NEXT Biometrics Highlights Mass Production Capability, New Contracts in Quarterly Update

“The company also highlighted recent developments in the beginning of the third quarter, including a global distribution agreement with Arrow Electronics, and a contract with First Biometrics.”

NEXT Biometrics has announced its results for the second quarter of this year.

NEXT Biometrics Highlights Mass Production Capability, New Contracts in Quarterly UpdateThe company saw revenues of NOK 24 million in Q2, down from revenues of NOK 26.6 million in Q2 of 2016. As for net results, Q2 of 2017 saw a net loss of NOK 41.9 million for the company, compared to a net loss of NOK 51.4 million in Q2 of 2016.

In a statement announcing the quarterly results, NEXT CEO Ritu Favre put the spotlight on her company’s establishment of the ability to mass produce both rigid and flexible fingerprint sensors, asserting that the latter represent a “market opportunity”. Favre added that production capability puts NEXT at “the forefront of the market” in targeting access control, government ID, notebook, and smart card applications of its technology.


WATCH: NEXT Biometrics CEO Ritu Favre at her financial presentation in Norway


The company also highlighted recent developments in the beginning of the third quarter, including a global distribution agreement with Arrow Electronics, and a contract with First Biometrics. NEXT Biometrics says that client will produce “casino payment and identity cards” featuring NEXT sensors, with early volumes expected for Q4 of this year, according to the company’s official Q2 report.