HIGHLIGHTS Q3-2019
- Revenue YTD of NOK 75.2 million, down 5% compared to same period last year
- Revenue of NOK 17.6 million in Q3-2019, down 42% from Q3-2018 as the US tier 1 customer reduced the number of platforms using NEXT sensors
- Gross margin of 27% in Q3-2019 (30% in Q3-2018), excluding non-recurring inventory write down
- EBITDA ex options of NOK -34.7 million
- Cash position NOK 131.7 million
- Peter Heuman appointed CEO of NEXT
NEXT CEO Peter Heuman commented:
“As a newly appointed CEO I can note that Q3 2019 was not in line with shareholders expectations. Currently, I’m in the middle of a 100-day program and have identified both great strengths and some areas of improvements. That said, the company is currently not at a level where we may avoid a temporary revenue impact as our single-largest customer reduces sensor purchases. My initial analysis shows important areas for the company to focus on going forward to drive revenue and value creation; create a tangible growth agenda, become more customer centric, and invest selectively in new products to ensure we are positioned to meet customer demand in our target markets.”
PRESENTATION OF THIRD QUARTER RESULTS
NEXT will present a business review and its interim report for the third 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=98164465
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:
Peter Heuman (CEO), peter.heuman@nextbiometrics.com
Eirik Underthun (CFO), eirik.underthun@nextbiometrics.com