FB pixel

NEXT Biometrics announces first ever quarter with positive gross margin

NEXT Biometrics announces first ever quarter with positive gross margin

NEXT Biometrics has reached positive gross margins for the first quarter in its history, as it booked NOK 23.3 million (US$2.9 million) in revenue in Q1 2018, the company announced.

The company’s gross margin improved from negative 4 percent in Q4 2017 to 19 percent, as it raised NOK 120 million ($14.8 million) in gross proceeds to fund its continued growth. During the quarter NEXT passed the milestone of 4 million sensors shipped, and since the end of the quarter shipped samples of its biometric modules for smart cards to seven customers around the world in May.

“We continue to develop a range of products featuring our proprietary, large and cost-efficient flexible fingerprint sensors with a focus on driving profitable growth within our targeted markets of smart cards, government IDs, access control and notebooks,” comments NEXT CEO Ritu Favre. “Achieving 19 percent gross margin in the first quarter is a confirmation of our progress. In addition, the progress our technical teams are making in contactless smart card solutions and our sampling of contact-based smart cards with customers, show that NEXT’s fingerprint sensor technology is gaining traction in our most important market.”

Favre told Biometric Update in late 2017 that NEXT’s notebooks segment would drive it into positive gross margins, but the company’s long-term growth is expected to come from contactless smart cards.

NEXT’s presentation of its first quarter results will be available through its website.

Article Topics

 |   |   | 

Latest Biometrics News


The UK’s election may spell out the future of its national ID cards

Identity cards are back among the UK’s top controversial topics – thanks to the upcoming elections and its focus on…


Challenges in face biometrics addressed with new tech and research amid high stakes

Big biometrics contracts and deals were the theme of several of the stories on that drew the most interest from…


Online age verification debates continue in Canada, EU, India

Introducing age verification to protect children online remains a hot topic across the globe: Canada is debating the Online Harms…


Login.gov adds selfie biometrics for May pilot

America’s single-sign on system for government benefits and services, Login.gov, is getting a face biometrics option for enhanced identity verification…


BIPA one step closer to seeing its first major change since 2008 inception

On Thursday, a bipartisan majority in the Illinois Senate approved the first major change to Illinois Biometric Information Privacy Act…


Identity verification industry mulls solutions to flood of synthetic IDs

The advent of AI-powered generators such as OnlyFake, which creates realistic-looking photos of fake IDs for only US$15, has stirred…


Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Read From This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events