Fingerprint firm IDEX reports Q3 results

November 13, 2015 - 

IDEX ASA has reported a loss of NOK 51.5 million (US$5.9 million) for the third quarter, down from NOK 28.8 million (US$3.3 million) in the same period last year.

The company’s total revenue was NOK 89,000 (US$10,300) compared to NOK 182,000 (US$14,780) in the same period a year ago.

The accumulated revenue for first nine months of 2015 decreased to NOK 151 million (US$17.3 million) from NOK 85 million (US$ 9.7 million).

Meanwhile, IDEX’s sales and services income saw a smaller decline this quarter, dropping to NOK 172 million (US$19.7 million) from NOK 194 million (US$22.2 million) for the first nine months of 2014.

As one of the key highlights for the quarter, IDEX said that its Eagle off-chip sensor is now in volume production for World Wide Touch Technology.

“This volume order for Eagle strongly validates the advantages of IDEX’s patented off-chip polymer sensor technology, which has major cost advantages over silicon sensors as well as having a much more flexible form factor. “This off-chip advantage allows IDEX to offer a much more competitive fingerprint recognition solution to both the mobile device and the card payment segments with competitive performance.

Additionally, the company said its sensor portfolio is seeing progress with major mobile OEMs “beyond validation to deep integration and compatibility testing at lead prospective customers.”

The fingerprint manufacturer expects that its recently increased sampling and integration activity will lead to design wins in the near future, resulting in orders for commercial volumes.

The company said it saw “solid progress on development of a card programme with top-tier global payments partner” throughout the quarter.

Finally, IDEX said it “anticipates sampling of in-glass sensors in early 2016 and volume ramp-up commencing in the second half of 2016 given the excellent progress made in product development with IDEX’s Fortune 500 partner”.

In a recent interview with BiometricUpdate.com, IDEX ASA CEO Hemant Mardia discussd the kinds of consumer deployments of fingerprint sensors, the benefits of biometric authentication in mobile transactions, and what differentiates IDEX’s fingerprint sensors and software from competing products, with Mardia.

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Stephen Mayhew is the publisher and co-founder of Biometrics Research Group, Inc.. His experience includes a mix of entrepreneurship, brand development and publishing. Stephen attended Carleton University and lives in Toronto, Canada. Connect with Stephen on LinkindIn.