NEXT Biometrics reports $3.5M revenues in Q3

October 19, 2016 - 

NEXT Biometrics Group held its Capital Market Day at Hotel Continental in Oslo, Norway, where it announced its third quarter revenues reached 28.4 million Norwegian crowns (US$3.5 million).

The revenues are a substantial increase from NEXT Biometrics’ 26.6 million NOK (US$3.3 million) in Q2.

Despite this increase in revenues, the company said it still has a negative margin for the third quarter.

In addition, the results means that its sales revenues for 2016 to date are 60.2 million NOK (US$7.4 million).

In a capital markets day report, Next Biometrics said that its ASIC cost-down project remains on track for 2017, and that it has surpassed 1 million sensors shipped.

NEXT Biometrics published the notes for the full presentation on its website. (Part 1) (Part 2)

Previously reported, NEXT Biometrics invested $4 million in the purchase of tools for cutting and coating fingerprint sensors as part of its previously announced investment deal with Innolux.

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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.