Q3 Update Finds Precise Biometrics on Solid Footing

Q3 Update Finds Precise Biometrics on Solid Footing

Precise Biometrics has issued its latest quarterly update, which suggests the company is on solid footing.

Net sales for the third quarter of 2019 came in at about SEK 27.5 million, compared to net sales of SEK 16.8 million in Q3 of 2018. And Precise Biometrics is back in black with respect to its operating profit, which came in at about SEK 3.3 million, compared to an operating loss of roughly SEK 0.4 million in Q3 of 2018.

Its EBITDA for Q3 of this year was about SEK 6.6 million, compared to a result of SEK 2.1 million a year ago.

Commenting on the results, Precise Biometrics CEO Stefan K. Persson highlighted the company’s partnership with fingerprint sensor specialist Egis Technology, which has deliver Precise Biometrics’ algorithm software into new mobile devices and accounted for SEK 17 million of Precise’s revenues for the quarter. “In Q4, we expect further integration of our software in collaboration with Egis,” Persson asserted.

The executive also noted Precise Biometrics’ new efforts in the area of biometric access control, with a solution that is still in the early stages of the commercialization process, but is nevertheless undergoing pilot projects in Sweden and is expected to deliver “higher inflows of order from new customers in 2020.”

Likewise, the biometric payment cards market is still expected to see its first major deployments in 2020, and Precise Biometrics was part of an important milestone when its technology was featured in the first payment card solution to attain Mastercard’s CAST certification this past quarter. “We look forward to continuing to develop our product for smart cards before the commercial launch of the first payment card with a fingerprint reader,” Persson said.

November 18, 2019 – by Alex Perala