NEXT Biometrics issues 2015 financial results, details 2016 outlook

February 23, 2016 - 

NEXT Biometrics Group ASA issued its financial results for the fourth quarter and 2015 fiscal year.

The company’s operating revenue in the fourth quarter of 2015 was NOK 1.7 million, compared with NOK 0.2 million in the third quarter and NOK 4.4 million in the fourth quarter of 2014.

The revenue in the fourth quarter of 2015 was generated by shipment of 46,000 fingerprint sensors.

For the fiscal year 2015, NEXT’s operating revenue was NOK 4.6 million compared with NOK 6.3 million for 2014.

The revenue for the year 2015 was generated by shipment of more than 100,000 fingerprint sensors.

Despite this, NEXT’s net loss in the fourth quarter of 2015 was NOK 47.5 million compared to a loss of NOK 29.9 million in the previous quarter.

NEXT attributed this increased loss mostly to increased R&D costs and increased operational activity in Asia.

The company also highlighted a few key achievements in the quarter, including volume deliveries to its first tier 1 customer Dell, significant progress in smartcard related research for NEXT fingerprint sensors, and a 120 million NOK (US$14.5 million) private placement with Greenbridge Partners.

“Throughout 2015, NEXT and its partners realized several key smart card related development milestones regarding using NEXT fingerprint sensors for this important market,” said NEXT Biometrics CEO Tore Etholm-Idsoe. “During this period and continuing into 2016 NEXT has focused large parts of the R&D resources to Smart Card activities, and NEXT sees significant opportunities within several of the major volume Smart Card market segments.”

Next also detailed the 2016 outlook which will see the company ramping up its smartcard related plans and activities, increasing business based on its newly launched 1411-Series fingerprint sensors, and serving the notebook segment.

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About Justin Lee

Justin Lee has been a contributor with Biometric Update since 2014. Previously, he was a staff writer for web hosting magazine and website, theWHIR. For more than a decade, Justin has written for various publications on issues relating to technology, arts and culture, and entertainment. Follow him on Twitter @BiometricJustin.