FB pixel

Ipsidy revenue grows more than 60 percent with new biometric technologies and more markets

Ipsidy revenue grows more than 60 percent with new biometric technologies and more markets
 

Ipsidy announced its full-year revenue for 2018 grew by nearly 61 percent to $3.8 million, from $2.3 million in 2017, providing near-term working capital and improving the company’s overall balance sheet.

During the year Ipsidy received a $9.6 million equity investment, integrated of its Verified multi-factor biometric authentication solution with its first bank customer, and signed a distribution partnership to extend its geographic reach. Ipsidy also significantly enhanced its product portfolio with the launch of its new Proof service for digital onboarding and high-value transaction verification, and its mobile device-based physical access technology, Access.

The company recorded a net loss of $10 million, but even that was down 57 percent from $17.5 million the previous year, with loss from operations dropping from $12 million to $9.3 million. Basic and fully diluted net loss per share was $0.02, an improvement from $0.05 in 2017. Investments in technical and operational resources increased Ipsidy’s EBITDA loss for the year from $5.7 million last year to $6 million.

“We have made tremendous strides over the course of 2018. We are firmly on the road towards achieving our strategic objectives,” comments Ipsidy Chairman and CEO Philip Beck. “Everything starts with trusted identity. Our identity platform offers a suite of mobile biometric services that our customers can use across multiple use cases to seamlessly create trusted transactions, with a common user experience when delivered through the Ipsidy mobile identity application. We look forward to more customers and users and to growing our platform revenue over the coming quarters.”

The company will soon announce new resellers in the U.S., the Caribbean, and Peru.

Article Topics

 |   |   |   | 

Latest Biometrics News

 

Huawei accelerates global digital transformation with digital ID, ICT and 5G projects

In recent years, global telecommunications provider Huawei Technologies has significantly ramped up its involvement in infrastructure projects aimed at supporting…

 

Move over, Armani: Italy’s It Wallet is the digital ID accessory of the season

Bravo to Italy for the forthcoming launch of its digital wallet scheme, clearing the path for a national digital identity…

 

Sumsub brings non-doc biometric identity verification to new markets

Biometric identity verification providers are expanding their market reach in various ways, including Sumsub’s support for users without ID documents…

 

Scottish Government emphasizes security of new platform for digital public services

Scotland is talking up the data security measures designed and build into ScotAccount, a single-sign on (SSO) service designed to…

 

Zambia, Namibia, Tanzania upgrade digital ID systems in concert with development partners

Zambia has carried out a major first step in its transition towards a modern legal and digital identity system, by…

 

Bermuda delays facial recognition deployment for national CCTV project

Bermuda’s government will not be deploying facial recognition capabilities in its CCTV system, at least for now, due to unspecified…

Comments

Leave a Reply

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

Most Read This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events