With reference to the article that appeared in TDN Direkt today, the company would like to reiterate the following:
NEXT Biometrics is carrying out a turnaround progressing well and aiming at lowering costs to a previously communicated target of MNOK 15 per quarter compared to a historical cost running rate of MNOK 48 in Q4 2019. The company has not provided guidance on future revenues, but has stated that revenues in Q3 2020 will be higher than the level achieved in Q2 2020. With an increased emphasis on sales and with lower costs, NEXT Biometrics is hard at work turning its FBI certified technology into revenues.
The company has not provided guidance on EBITDA nor cash flow for Q3/Q4 2020.
“Management has implemented the restructuring plan that will provide a leaner and more customer focused operation. The plan has largely been completed. With the recent completion of equity issues raising more than NOK 60 million we have sufficient funds to implement our ambition to transform NEXT to become a commercially focused technology company with a tangible growth agenda”, said Peter Heuman, CEO of NEXT Biometrics.
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, Taipei, Bengaluru and Shanghai.
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NEXT Investor contact:
Peter Heuman, peter.heuman@nextbiometrics.com
Eirik Underthun, eirik.underthun@nextbiometrics.com