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 commercial volume sensor shipments to Fujitsu.
Other highlights include NEXT Biometrics being on track to reach target of positive gross margin by Q1 2018, securing a casino smart card agreement with First Biometrics, and achieving a milestone of 3 million sensors shipped.
“At NEXT we see market opportunity for our large cost-efficient flexible fingerprint sensors as the biometrics market matures and we develop our unique technology,” NEXT Biometrics CEO Ritu Favre said. “We reached an important milestone in the second quarter with mass-production capacity firmly established for both flexible and rigid fingerprint sensors.”
Last month, NEXT Biometrics received the Frost & Sullivan 2017 European Enabling Technology Leadership Award for its achievements in fingerprint sensor technology. At the time, the global research firm noted that NEXT “is poised to grab significant market share.”