FacePhi exceeds forecasts, reports 307% jump in profits

With 21 banks now using its software and services, Spanish facial recognition firm FacePhi is reporting a 307 percent jump to a net profit of 457,205 euros for 2017. The company feels this upward trend will continue in 2018, given FacePhi’s aim to increase the size of its international business with a presence in the U.S., European and Asian markets. Shares in FacePhi rose by 60% over the year, from €0.68 on January 1, 2017 to €1.09 on December 31,

Nuance announces effects of malware incident in latest quarterly results

Nuance Communications announced GAAP revenue of $465.9 million in its latest quarterly report, the company announced Tuesday, touting its performance for the 2017 fiscal year in net new bookings and recurring revenue, driven by demand for several products including its voice biometrics for enterprises. Dragon Medical cloud solution, enterprise voice biometrics, omni-channel, and digital offerings, and clinical documentation solutions drove revenue during the year, according to the announcement for the fourth quarter, ending September 30. A malware incident the company

BIO-key doubles revenue on hardware sales growth

BIO-key reported a 118 percent revenue increase to $942,000 in its third quarter revenue report on Wednesday, driven by increased demand, broader distribution, and an expanded line of products including its TouchLock padlocks. Hardware devices made up over half of BIO-key’s revenues in the quarter ending September 30, rising 133 percent to $512,000, including $164,000 from sales of TouchLock, which launches in the U.S. this quarter. BIO-key reached deals to supply its SideSwipe fingerprint sensor to a government defense contractor

VerifyMe restructuring slashes loss in Q3

VerifyMe reduced its quarterly loss by 78 percent year-over-year in Q3 from $1.8 million to $385,000 amid several positive developments for the company, according to its latest earnings report. A 15.3 percent decrease in operating expenses from the Q32016 allowed VerifyMe to exit the quarter with a cash balance of $0.8 million, compared to only $23,000 at the end of the 2016 fiscal year. Among significant moves in the quarter, VerifyMe signed a contract with HP Indigo in September to

Egis Technology reports huge revenue gains in Q3

Egis Technology reported a 229 percent year-over-year increase in revenue to over $47 million in its Q3 2017 earnings. Egis’ ET320 sensor is embedded in select Samsung Galaxy C7 models, which likely contributed to the gains. Another possible source of revenue growth is a partnership announced in February to promote their products in the AR, VR, and automotive markets. The company also announced integrations in a pair of Motorola devices in June as it demonstrated integrations for automotive and smart

NEXT Biometrics reports improved gross margins and revenue

NEXT Biometrics has issued the interim results for Q3 2017, with improved gross margins and revenue, and results for the first nine months ended September 30, 2017. The company’s Q3 revenue increased to NOK 25.4 million (US$3.1 million) compared to NOK 24 million (US$2.9 million) in Q2 2017. Meanwhile, the company’s gross margin improved to -4 percent in Q3 2017. In October, the company began production shipments of NB-2034-S2 fingerprint sensor to US Tier 1 notebook manufacturer, as well as

Precise Biometrics reports sales drop in tough capacitive sensor market

Competition in the capacitive sensor market caused a drop in sales for Precise Biometrics in Q3 2017, resulting in an operating loss, the company said as it reported its quarterly financial results. Net sales declined 56 percent year-over-year to approximately SEK 10.1 M, and the company’s operating margin fell 64 percent to a loss of SEK 6.5 M. Precise Biometrics CEO Håkan Persson said that a small number of companies with competitive advantages from early market entry dominate the market

ImageWare corporate update highlights growth potential from partnerships

ImageWare Systems reported revenues of $1.1 million for Q3 2017 on Thursday, the same as in Q2 but a 28 percent year-over-year increase, driven by higher license revenues. A net loss of $2.4 million, or $0.03 per share, was unchanged from Q3 2016, but the company’s gross margin improved by 6 percent. The company also updated its corporate progress in a conference call. ImageWare Chairman and CEO Jim Miller said in the call the $11 million raised with the completion

IDEX hosting ‘Investor Update’ this week

IDEX will host an Investor Update in Oslo on Thursday, November 9. CEO Dr Hemant Mardia and CFO Henrik Knudtzon will present highlights from the company’s Capital Markets Day, including strategy, technology, market opportunities and outlook, followed by a Q&A session. The event will be hosted at Felix Conference Centre at Aker Brygge in Oslo and is planned to start at 11:00 am CET to approximately 12:30. Last week, IDEX issued its financial results for Q3 2017, which reported revenues

ImageWare hosting corporate update conference call

ImageWare Systems will conduct a conference call on Thursday, November 9 at 5:00 p.m. ET to provide a corporate update for the third quarter ended September 30, 2017. The company will report its results in a press release prior to the call. ImageWare Chairman and CEO Jim Miller and CFO Wayne Wetherell will host the conference call, followed by a question and answer period. Earlier this month, ImageWare demonstrated its GoVerifyID Enterprise Suite for IBM Security Access Manager at the