HIGHLIGHTS Q2-2019
- Revenue of NOK 30.1 million in Q2-2019, up 18% from Q2-2018 and up 10% vs Q1-2019
- Gross margin of 32% in Q2-2019, compared with 26% in Q2-2018 and 34% in Q1-2019
- Cost reduction program on track with positive impact in Q2-2019
- EBITDA ex options improved to NOK –30.5 million
- Increased market activity and continued customer progress in India
- All time high revenue for notebooks, US tier-1 customer to start reducing number of platforms in Q3
- Signed agreement with ABCorp for commercialization of biometric smart cards
Post Q2-19 events
- Entered into design-in contracts with TROIKA and Wiseasy for Aadhaar POS-based payment solutions
- Signed first commercial agreements for the new FAP20 sensor
- COO Dan Cronin assumed the position as interim CEO from end-July
NEXT Interim CEO Dan Cronin commented:
“We offer an unrivalled combination of secure, large-size, cost effective and easy to use fingerprint sensors which position us for long-term growth. Our customer base in our target markets of smart card, government ID, access control and notebook is expanding. We continue to sign new design-in contracts for our existing products and the government grade FAP 20 sensor which will be available later this year, and in India are converting our strong lead pipeline for our Aadhaar-certified products. These developments are expected to impact positively on our revenue from the second half of 2019, while we progress according to plan with the commercialization of our Dual Interface solution which will position us for the emerging hypergrowth payment smart card market.”
NEXT will present a business review and its interim report for the second quarter of 2019 today at 08.30 Norwegian time at SANDS, Cort Adelers gate 33, Oslo. The presentation will be held in English. It will be available as a live feed and as a recording on the company website or through this link: https://webtv.hegnar.no/presentation.php?webcastId=98042706
You can find the presentation and report on our web-page https://www.nextbiometrics.com/investors/financial_reports_presentations/
About NEXT Biometrics
NEXT provides advanced fingerprint sensor technology that delivers uncompromised security and accuracy for the best possible user experience in the smart card, government ID, access control and notebook markets. The company’s patented NEXT Active Thermal™ principle allows the development of large, high quality fingerprint sensors in both rigid and flexible formats. NEXT Biometrics Group ASA (www.nextbiometrics.com) is headquartered in Oslo, with sales, support and development operations in Seattle, Silicon Valley, Taipei, Prague, Bengaluru and Shanghai.
NEXT Investor contact:
Dan Cronin (Interim CEO), dan.cronin@nextbiometrics.com
Knut Stålen (CFO), knut.stalen@nextbiometrics.com