Precise Biometrics Chairman Charts Rise of Optical, Ultrasonic Sensors, Biometric Cards in Q2 Update

“Commenting on the results, Precise Biometrics chairman Torgny Hellström highlighted the rise of optical and under-glass fingerprint sensors in mobile devices, noting that Precise Biometrics’ algorithm software had been used in the recently launched Huawei Honor 10, a market success.”

Precise Biometrics has issued its results for the second quarter and the first half of 2018.Precise Biometrics Chairman Charts Rise of Optical, Ultrasonic Sensors, Biometric Cards in Q2 Update

Net sales for the period came in at SEK 18.7 million, compared to net sales of about SEK 20.2 million in Q2 of 2017. The company is also reporting an operating loss of nearly SEK 3.3 million for Q2, compared to an operating profit of SEK 482,000 a year ago, with its overall loss for Q2 of 2018 coming in at about SEK 4.1 million.

Looking to the first half of the year, net sales were slightly up year-over-year, at about SEK 36.9 million, compared to roughly SEK 36.8 million for the first half of 2017.

Commenting on the results, Precise Biometrics chairman Torgny Hellström highlighted the rise of optical and under-glass fingerprint sensors in mobile devices, noting that Precise Biometrics’ algorithm software had been used in the recently launched Huawei Honor 10, a market success. Hellström said Precise Biometrics is “continuing our close collaboration with several customers that are focusing on optical and ultrasound sensors,” adding that Precise Biometrics software is also being used in budget phones that are now able to include fingerprint authentication systems thanks to the dropping prices in capacitive sensors.

Hellström also emphasized the opportunities emerging in biometric payment cards, asserting that the first biometric card specification from Mastercard could arrive by the end of the year, “which means that biometric cards for payments could be used commercially and provide us with royalty revenues in the latter part of 2019.” In pursuit of such opportunities, he said, Precise Biometrics has deepened its collaborations with Kona-I and NXP Semiconductors. “These  partnerships strengthen our position as the leading supplier of fingerprint software for smart cards,” Hellström said.

August 15, 2018 – by Alex Perala