HIGHLIGHTS Q1-2019
- Revenue of NOK 27.5 million vs. NOK 29.3 million in Q4-2018 and up 18% YoY
– Increased diversification of business and revenue streams - Gross margin of 34%, versus 19% in Q1-2018 and 36% in Q4-2018
- Announced cost reduction program on track
- EBITDA ex options of NOK 35.4 million, includes NOK 4.8 million of severance pay and one-offs
- Continued customer progress in India as sales pipeline converts to contracts
- Expanding smart card ecosystem in Asia
- Raised NOK 179 million in net proceeds from private placement and subsequent offering
Post Q1-2019 events
- Provided card specification for payment network
- Design-in and first shipments to KSI
- Partnership with Newland on Biometric POS
NEXT CEO Ritu Favre commented: “We are underway with our shift from product development to revenue generation. The progress is reflected in revenue from a widening customer base and the signing of new design-in contracts which are expected to increase revenues from the second half of 2019. Our efforts in India are starting to show results with a strong lead pipeline for our Aadhaar-certified products. We will build on the strong momentum in adjacent government ID markets for our new large-size, government-grade and cost-effective FAP20 sensor. This product is on track for volume production later this year. Progress is also made with commercialization of our Dual Interface solution which will position us to tap into the emerging hypergrowth payment smart card market.”
PRESENTATION OF FIRST QUARTER RESULTS
NEXT will present a business review and its interim report for the first 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=97815869
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 Media contact:
Tanja Moehler, tanja.moehler@nextbiometrics.com
NEXT Investor contact:
Ritu Favre (CEO), ritu.favre@NEXTbiometrics.com
Knut Stålen (CFO), knut.stalen@nextbiometrics.com