In the broadest financial terms, it appears to have been a good one. Net sales in 2019 amounted to about SEK 91.9 million, compared to sales of about SEK 67.6 million in 2018.
The company’s gross profit for 2019 came in at about SEK 79.5 million, compared to a gross profit of a little over SEK 57.6 million in 2018. And the company reports an overall profit of SEK 594,000 for 2019, compared to a loss of about SEK 20.5 million the year before.
Commenting on the year passed, Precise Biometrics CEO Stefan K. Persson highlighted the company’s restructuring at the start of the year, with the company following through on a plan to consolidate its offices in Sweden, and to open a new office in Shanghai in order to better support Precise’s Asia-based customers. The result, Persson said, “is a significantly more efficient organization in which we have not only a more controlled cost base, but also better conditions for closer collaboration with business partners and customers.”
Persson also highlighted the company’s efforts to commercialize its YOUNiQ solution, including a new focus on access control applications, and its ongoing success in the mobile biometrics industry, which accounts for the “biggest proportion” of Precise Biometrics’ growth, thanks in large part to partnerships with Egis Technology and Qualcomm.
As for 2020, the company’s leadership are closely watching the ongoing COVID-19 pandemic, which is expected “to have an impact on order input during the first half” of the year. “Our response to the current market situation is that we will continue working to increase the gap to our competitors and secure our position as the preferred supplier of identification software for secure and convenient identification, whoever you are, wherever you are and whatever you are doing,” he concluded.
April 1, 2020 – by Alex Perala