NEXT Posts Q1 Results, Remains Optimistic

NEXT Posts Q1 Results, Remains OptimisticNEXT Biometrics has announced its Q1 results for 2015. Despite posting overall losses for the quarter, the company sees positive trends in its business operations, and remains optimistic in its outlook.

At first glance, the numbers look disappointing. Despite bringing in a net income of NOK 2.6 million, NEXT posted a net loss of NOK 19.6 million. The company’s net income is pretty much equivalent to that of the previous quarter, but the net loss is way down, against NOK 33.4 million in Q4 of 2014.

Research and development accounted for a significant chunk of the company’s expenses for the quarter, at NOK $ 12.3 million. That could be justified as a good investment, given that one of the company’s main strategies right now is to promote its new line of sensors and replace previous generic products in the mass market.

Those efforts, and others, are going well. The company says it shipped 52,000 fingerprint sensors in the first quarter, with an initial order for a major smart home integration, though sales were also apparently buoyed in part by demand from smartphone integrations. It is also touting the potential of its first TIER 1 customer, which has increased its volume estimates. And the company says it is now exploring a wealth of new leads, with some having the potential for 7-digit sales. If these trends bear out, the company could be posting vastly improved results in fiscal quarters to come.

May 27, 2015 – by Alex Perala