Biometrics stocks update: Huami, Ipsidy, Intellicheck, Idex
Huami Corporation, which makes the Amazfit line of biometric wearables, has reported revenues of RMB2,111.4 million (US$303.3 million) in the fourth quarter of fiscal 2019, and RMB5,812.3 million ($834.9 million) for the year, with the latter number representing a spectacular 59.4 percent increase.
The company shipped 42.3 million units in fiscal 2019, up from 27.5 million the previous year, with a gross margin falling from 25.8 percent to 25.3 percent, for an adjusted diluted net income per ADS of RMB9.81 ($1.41), up from RMB7.59 ($1.09) in 2018. Huami expects first quarter income of between RMB980 million ($140.1 million) and RMB1,010 million ($144.4), for an increase of over 22 to 26 percent from the first quarter of 2019.
The company, which claims to have one of the largest databases of biometric and activity data in the wearables industry, expects to release its Mi-Band 5 in 2020. It also says its supply chain from the covid-19 outbreak has gradually returned to normality since mid-February.
New board members for Ipsidy and Intellicheck
Varana Capital Founder, Managing Partner and Portfolio Manager Philip R. Broenniman has joined Ipsidy’s Board of Directors, and will lend his experience and analytical skills to what Ipsidy Chairman and CEO Philip Beck said he believes is an inflection point for the biometric Identity-as-a-Service business.
“I have been an investor in Ipsidy for some time and believe that the Company has tremendous potential for delivering innovative identity solutions,” Broenniman says in the press release. “I very much look forward to rolling up my sleeves, working with the Ipsidy Board and the Ipsidy leadership team to help execute our strategic plan.”
The Board of Directors of Intellicheck has added CEO Bryan Lewis and KBBO Americas CEO Dylan Glenn.
Lewis has been Intellicheck’s CEO for two years, and has more than 30 years of experience in global leadership positions previously, while Glenn has previously served as Senior Managing Director of Guggenheim Partners and Special Assistant to President George W. Bush for Economic Policy. Glenn also serves as Chairman of Guggenheim KBBO Partners.
“We are excited to welcome Dylan Glenn and Bryan Lewis to our board of directors. They bring decades of leadership and expertise in key areas that are essential to our future direction and operational success. We believe the insight and perspective they bring will be invaluable to the company and the board,” comments Intellicheck Chairman of the Board Guy L. Smith.
Idex Biometrics receives UK tax relief for R&D
Idex Biometrics has received research and development tax relief in the UK for 2017 and 2018, receiving a combined cash refund of NOK 8.1 million (US$790,000). The company will also carry forward NOK 25.4 million ($2.47 million) in tax credits available to offset taxable income in the country. An additional claim is planned for Idex’ 2019 tax return.