Biometrics providers announce stock investments and revenue jumps

BIO-key has closed a $24.8 million public offering, surpassing its stated expectations and reflecting optimism in the company’s biometrics and IAM prospects.
The company announced an intention to raise gross proceeds of $21.6 million by offering 33,230,000 shares of common stock and warrants, but sold 38,214,500 common shares with warrants for an equal amount to gross approximately $24.8 million instead. Each share and warrant combination was sold at a price of $0.65, and the warrants expire in five years.
BIO-key has also recently implemented technology it acquired earlier this year with PistolStar to several colleges across the U.S..
SuperCom closes private placement
SuperCom has closed a private placement raising $3.2 million in gross proceeds to further invest in its biometric and eID portfolio.
As planned when the private placement was announced, 2,370,000 unregistered ordinary shares in SuperCom were sold at $1.35 each, along with a five-year warrant with an exercise price of $1.70 each.
CEO Arie Trabelsi said the proceeds will go to working capital growth and investment in technology and solutions development, among other areas.
“We believe that as the needs of our customers for our Pure Health and Pure Security solutions continue to grow, we need to continue to provide technology enhancements, shorter delivery times and the same exceptional service they’ve come to expect from us, and in turn, we expect to not just maintain, but grow high-margin recurring revenue streams from these products and solutions in the future,” Trabelsi says.
FacePhi announces massive 1H 2020 revenue growth
Revenues for FacePhi facial biometrics increased by 143 percent in the first half of 2020, compared to the same period in 2019, the company reports, with €2.59 million (US$3 million) in revenue from the sale of licenses.
Heavy investment in international expansion by the company resulted in a decrease in EBITDA, however, of €0.53 million ($0.62 million), or 18.68 percent. Costs also included listing on Euronext in February.
FacePhi has added 10 new clients or contracts in the first six months of this year, compared to 13 in all of 2019. To deal with the growth, 13 new employees have been added to the team.
CEO Javier Mira says “these financial results highlight the great challenge of the company, to continue internationally growing to become the benchmark partner in the field of facial biometrics in sectors such as banking and health.” He also states that the company’s resources are focussed on expansion in the Asia-Pacific region and expanding its network in the Americas.
Shares in the company are also up on news of an agreement in Argentina to develop a facial recognition algorithm to work with masked people, according to the announcement.
Idex Biometrics and Zwipe insiders buy company stock
The capital increase from the share compensation option taken by 59 employees of Idex Biometrics has been registered. The 4,318,523 shares taken instead of NOK 5.4 million ($0.6 million) in cash brings Idex’ share capital to NOK 118,213,597.50 ($12.9 million), made up of 788,090,650 registered shares with a nominal value of NOK 0.15 ($0.016) each.
Zwipe Executive Vice President of Strategy & Channels Bishwajit Choudhary, a primary insider, has acquired 5,500 shares in the company at an average price of SEK 12.78 ($1.44). The purchase is Choudhary’s first investment in the company’s stock.
Article Topics
BIO-key | biometrics | FacePhi | financial results | Idex Biometrics | stocks | SuperCom | Zwipe
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