IDEX ASA issues mid-year financial update

IDEX ASA has issued its mid-year financial update in which it asserts that the company is “positioned to capture significant share of the multi-billion dollar market opportunity for fingerprint sensors based on strong product portfolio and partners.”

IDEX saw an EBITDA loss of 48.0 million crowns (US$5.79 million) for the second quarter versus a loss of 25.0 million crowns (US$3.02 million) one year ago.

IDEX also reported that it has partnered with an undisclosed global payments company to launch a worldwide biometric payment card program in the second half of 2015.

During this time, IDEX will deliver initial trials of the biometric card program which should lead to shipments from late 2016.

IDEX will deliver initial trials in the second half of 2015 which should lead to shipments from late 2016
The company saw positive feedback from sampling its new generation off-chip touch sensor and expects to secure design wins in the second half of 2015 with subsequent sensor shipments.

Additionally, IDEX announced several partnerships in mobile and card market in the first half of 2015.

Expand existing and new partnerships providing established high-volume manufacturing and market channels to exploit identified market opportunities, including Nok Nok Labs, Cypress Semiconductor Corp. and Trustonic.

IDEX said it will continue to pursue its strategy of leveraging its core technology across the mass markets of mobile devices, ID and smart cards, and devices powering the Internet of Things.

The company said it also expects to continue strengthening the company, particularly in the U.S. and Asia.

“The huge commercial opportunities combined with the robust development of both our products and partners and enhanced funding give us confidence that we now have an excellent base from which we can deliver strong growth in a market that will expand strongly over the next 5 years,” IDEX said in its mid-year report.

Article Topics

biometric payment system  |  biometrics  |  card  |  financial report  |  fingerprint sensors  |  Idex Biometrics