Oslo, 12 May 2020
Highlights Q1 2020:
- Revenue of NOK 20.5 million in Q1 2020, up 122% from Q4 2019 and down 26% from Q1 2019
- Gross margin of 17% in Q1 2020, compared to -2% in Q4 2019 and 34% in Q1 2019
- EBITDA ex options of NOK -33.6 million in Q1 2020 (NOK -35.4 million in Q1 2019) including non-recurring costs of NOK 4.4 million
- Cash position of NOK 54.1 million per 31 March 2020 (NOK 188.9 million per 31 March 2019 and NOK 88.5 million per 31 December 2019)
- Accelerated cost reduction program and reduced headcount as part of company turnaround plan
- Improved sales pipeline; working on multiple client business opportunities with revenue potential in 2020 and beyond
- Short-term Covid-19 uncertainty, but positive fingerprint sensor long-term market outlook
NEXT CEO Peter Heuman commented:
“We are pleased to announce an increase in revenue of 122% from previous low-point quarter. Our new growth agenda in combination with complete reallocation of resources and customer focus has provided improved revenues and sales funnel. We are in the middle of a major turnaround and with current ramification of COVID-19 our built-up revenue momentum may risk being somewhat affected.
It’s also positive that earlier implemented cost savings and optimizations of the company has started to yield effects on the underlying cost levels. The negative cashflow of the quarter is mainly driven by historic costs and prior contractual obligations. Subsequent to quarter end, we have implemented additional efficiency and structural changes as a part of the turnaround. We are resetting the company and during Q4 2020 we will reach full effect related to target organisation and cost structure. We are targeting to become a customer and commercially focused technology company with a tangible growth agenda.”
For further information, please see presentation and quarterly report. Definitions and reconciliation of alternative performance measures can be found in the quarterly report. The presentation and quarterly report are available on www.nextbiometrics.com/investors and www.newsweb.no.
Presentation of first quarter result:
NEXT Biometrics Group ASA will host a conference call to present the results for the first quarter of 2020 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 to peter.heuman@nextbiometrics.com.
Participant access information:
Please join the conference call 5-10 minutes prior to the start time using the access information below.
Start Time: 08:30 CEST
Duration: 60 minutes
Dial-in numbers:
NO: +47 23500236
SE: +46 850558358
UK: +44 3333009030
US: +18 335268398
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, Prague, Bengaluru and Shanghai.
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NEXT Investor contact:
Peter Heuman (CEO), peter.heuman@nextbiometrics.com
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.