- Revenue for 2019 of NOK 84.4 million, down 22% compared to same period last year
- Revenue of NOK 9.2 million in Q4-2019, down 68% from Q4-2018
- Revenues to date 2020 already higher than revenues reported in Q4-2019
- Gross margin of -2% in Q4-2019 (36% in Q4-2018) resulting from reduced sales volume and product mix in the quarter
- EBITDA ex options1 of NOK -49.3 million in Q4-2019 (NOK -34.7 million in Q4-2018) including non-recurring costs of NOK 4.7 million
- Cash position NOK 88.5 million as per 31 December 2019 (NOK 46.3 million per 31 December 2018)
- Accelerated cost reduction program and reduced headcount
- Large-size FAP20 sensor module granted US PIV certification
NEXT CEO Peter Heuman commented:
“We continued to see the revenue impact of our largest customer reducing sensor purchases in the fourth quarter as expected. To offset this, we reduced headcount, made cost avoidance and lowered indirect costs substantially during the quarter. At the same time, we are working closer with both existing and potential new customers and have at year-end built a much stronger sales funnel. We have also received PIV certification of our promising FAP20 sensor. With a stronger sales focus we have also started to convert increased activity in India into revenues. With a more customer centric organization operating at lower cost, I´m confident we will deliver more orders and revenue during 2020.”
For further information, please see attached presentation and quarterly report. Definitions and reconciliation of alternative performance measures can be found in the quarterly report.
PRESENTATION OF FOURTH QUARTER RESULTS
NEXT Biometrics Group ASA will host a web conference to present a business review and its interim report for the fourth quarter and full year of 2019 today at 08.30 Norwegian time. Management will be represented by CEO Peter Heuman and CFO Eirik Underthun.
A Q&A session will be held as a part of the call. Participants who have questions can either ask questions via the moderator in the call or send their questions on email before or during the meeting to peter.heuman@nextbiometrics.com.
PARTICIPANT ACCESS INFORMATION
Please join the event conference 5-10 minutes prior to the start time using the Participant Passcode listed below.
Event Conference Title: NEXT Biometrics Q4 results conference call
Start Time/Date: 08:30 CET Wednesday, February 26, 2020
Duration: 60 minutes
Participant passcode: 294149
With Click to Join, there’s no need to dial-in:
NEXT Biometrics Q4 results conference call
Click the link above and enter your information to be connected. The link becomes active 15 minutes prior to the scheduled start time.
The quarterly report and presentation will be available on www.nextbiometrics.com/investors/financial_reports_presentations/ and www.newsweb.no. NEXT Biometrics welcomes all interested parties.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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