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.
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