IDEX Biometrics interim report for the fourth quarter and preliminary result for 2023
29 Février 2024 - 8:00AM
UK Regulatory
IDEX Biometrics interim report for the fourth quarter and
preliminary result for 2023
Oslo, Norway – 29 February 2024 - IDEX
Biometrics ASA’s interim report for the fourth quarter and
preliminary annual result for 2023 is attached to this notice (link
below) The interim report is also available on the IDEX Biometrics
website: www.idexbiometrics.com/investors/interim-results/
A webcast presentation of the interim report will be held by
Vince Graziani, Chief Executive Officer, and Catharina Eklof, Chief
Commercial Officer, today at 09:00 CET. The webcast presentation is
attached to this notice (link below) and can be viewed at the
following link:
https://idexbiometrics.videosync.fi/q4-2023/
2023 was a year of transformation as we continued to execute on
our strategy to evolve IDEX Biometrics from a component company
into a biometric solution company. This year has been focused on
laying the foundation for biometric smart cards at scale. Bringing
to market a suite of scalable enrollment solutions and working
closely with our manufacturing partners around the world getting
them ready to launch solutions with IDEX Pay and IDEX Access.
IDEX also partnered with a first Asian bank offering the best
customer the world’s first biometric metal card. During the year,
we introduced IDEX Pay, certified by Mastercard, and IDEX Access,
further advancing our position as a full solution company for
biometric smart card manufacturers and partners.
As a result of this new customer-centric solutions approach, our
portfolio of customers and partners has grown from seven customers
in 2022 to more than 25 in 2023. With several of our manufacturing
partners in the process of obtaining their certification, we
anticipate our partners worldwide to launch biometric payment and
authentication solutions in the coming quarters.
Fourth quarter revenue amounted to $0.5 million, down from $1.0
million in the prior quarter. The decline in revenue is primarily
related to lower component sales with two of our legacy
customers.
Gross profit margin for the fourth quarter of 2023 when
excluding the one-time inventory write-off for end-of-life
products, was 44% compared to 33% for the fourth quarter of
2022.
Fourth quarter operating expenses, excluding cost of products
sold, were $4.7 million, a decrease by $1.9 million from $6.6
million in the previous quarter. As previously announced, we are
targeting operating expense levels below $4 million per quarter
through implementing further cost reductions in the first quarter
of 2024, and to be completed during the second quarter of
2024.
For further information contact:
Marianne Bøe, Head of Investor Relations
E-mail: marianne.boe@idexbiometrics.com
Tel: + 47 918 00186
About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in
fingerprint biometrics, offering authentication solutions across
payments, access control, and digital identity. Our solutions bring
convenience, security, peace of mind and seamless user experiences
to the world. Built on patented and proprietary sensor
technologies, integrated circuit designs, and software, our
biometric solutions target card-based applications for payments and
digital authentication. As an industry-enabler we partner with
leading card manufacturers and technology companies to bring our
solutions to market.
For more information, visit
www.idexbiometrics.com
TRADEMARK STATEMENT
IDEX, TrustedBio, IDEX Biometrics and the IDEX logo are trademarks
owned by IDEX Biometrics ASA. All other brands or product names are
the property of their respective holders.
About this notice
This notice was published by Marianne Bøe, Head of investor
relations, on 29 February 2024 at 08:00 CET on behalf of IDEX
Biometrics ASA. The information shall be disclosed according to
section 5‑6 of the Norwegian Securities Trading Act (STA) and
published in accordance with section 5‑12 of the STA.
- IDEX 2023 Q4 presentation pub
- IDEX 2023 Q4 report pub
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