NEXT Biometrics announces improving gross margins and Q4 2017 results
NEXT Biometrics has announced revenue of NOK 24.7 million (US$3.2 million) and gross margins of negative 4 percent for Q4 2017. Its gross margins improved to positive in January, and the company expects to reach a gross margin of 20 percent for the month of February.
In addition to realizing positive gross margins, the company also says its Smart Card biometric subassembly project is progressing as planned.
“In Q4 we continued to develop a range of products featuring our proprietary, large and cost-efficient rigid and flexible fingerprint sensors with a focus on driving profitable growth within our targeted markets of Smart Cards, Government ID, Access Control and Notebooks,” commented NEXT CEO Ritu Favre. “We have developed the first ISO compliant Smart Card with a flexible sensor together with one of our eco-system partners, we have a roadmap in place to enhance our leading sensor technology and we have proven our mass production capabilities, all of which position us at the forefront of the security, user experience and cost critical emerging, high volume segments of the biometrics market.”
NEXT Biometrics’ Q4 2017 report and Capital Markets Day presentation (PDF) are available from the company website.
Favre told Biometric Update in December that NEXT’s increased emphasis on meeting revenue goals and financial performance targets involves an element of culture change.