Oslo, Norway: IDEX Biometrics ASA's interim report for the fourth quarter and preliminary result 2024 is attached to this notice, including the fourth quarter 2024 presentation.
The report and presentation are available on the IDEX Biometrics website:
www.idexbiometrics.com/investors
Recent highlights
- Certification of IDEX PAY platform allowing manufacturers to certify and launch Biometric Payment Card programs with both Visa and Mastercard globally.
- Reaching scale manufacturing quality among key partners, enabling them and us to go beyond pilot volumes.
- IDEX Biometrics partner KONA I becomes first manufacturer certified by Mastercard for both PVC and metal biometric cards.
- Access: Received an order from DigAware to deliver a biometric sensor solution to enhance their smart badges. DigAware's new biometric ID badge incorporates RFID radios for emergency situations in environments such as schools, hospitals, and enterprises.
- Payments: First commercial launch in Japan together with Life Card, subsidiary to AIFUL Japan's third largest consumer finance company. Life Card's commercial roll-out is targeted for the first half of 2025.
- Streamlined global operations and progressed on cost efficiencies, aligning resources with key market priorities and further optimized our workforce.
- Completed rights issue in November, allowing retail investors to participate at the same terms as shareholders participating in the September capital raise.
Financial results Q4 2024
- No product revenues in the fourth quarter.
- Operating expenses excluding cost of products sold and bad debt provisions amounted to $2.4 million in the fourth quarter, below target at $2.5 million.
- An accrual for loss on receivables from Zwipe AS amounting to $0.6 million has been included in the fourth quarter of 2024.
- Net loss in the fourth quarter of 2024 was $2.1 million. The result includes net financial gain amounting to $2.4 million caused by value change of warrants and the derivative related to the convertible debt. Adjusted for these items, the result would have been a net loss of $4.6 million.
- A non-cash impairment of goodwill amounting to $968 thousand was recorded in the fourth quarter.
- Cash balance per 31 December 2024 at $2.0 million
For further information contact:
Marianne Bøe, Head of Investor Relations, +47 91800186
Kristian Flaten, CFO + 47 95092322
E-mail: ir@idexbiometrics.com
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 (http://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 issued by Marianne Bøe, Head of Investor Relations, on 27 February 2025 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.
