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Biometrics companies see gains ahead with strong earnings, opportunities and IPO

GBG reports, Precise Biometrics diversifies, Trust Stamp lists
Biometrics companies see gains ahead with strong earnings, opportunities and IPO

GBG reports strong revenues of £103.5 million (US$138.4 million) between April and September 2020 for its identity data intelligence, which the company says is its strongest first-half performance over its 30-year history. The gain was driven by business adaptation and acceleration of digital transformation, according to the announcement.

The company’s identity team helped its customers verify 175 million identities, in a record-breaking 1H 2020 for that segment. In total, GBG says it booked more than 1,000 new customer contracts in the half.

“In a year of dramatic change and challenges, I am proud of what the exceptional GBG team has delivered for our customers,” states GBG CEO Chris Clark in the press release. “From winning new logos, processing record-breaking identity and location verification levels, and supporting global organisations who have been impacted by the Covid-19 pandemic, our team members have shown outstanding resolve. Our priority continues to be keeping our team members across the world safe, while helping our customers prosper online.”

Precise sees benefit from increased access control focus

Access control will be an area of focus in the fourth quarter of Precise Biometrics’ fiscal year, along with taking a greater share of the significant market opportunities it sees ahead, CEO Stefan K. Persson writes in a company blog post.

There are now more than 40 installations of Precise YOUNiQ in operation in Sweden, which along with the successes of its mobile business segment has put the company in sound financial position, according to the post.

“Our mobile business continues to generate a healthy profit and cash flow, keeping our cash position strong,” CFO Ulrik Nilsson is quoted as saying. “We use the positive cash flow from mobile to fund our investments in growing Digital Identity. The business model for Digital Identity is a SaaS model and we continue to add new customers following our set strategy.”

Persson is encouraged by Precise’ position in the mobile fingerprint biometrics segment, particularly for its optical sensors in the medium and high-priced device segment.  He forecasts “modest volumes” of biometric payment cards to be produced over the next year.

Trust Stamp lists to Euronext Growth Dublin

Trust Stamp has been admitted to trading on the Euronext Growth exchange in Dublin, under the ticker code AIID at an issue price of $7.79 per share.

The Admission Document says the company’s expected market capitalization was $28 million.

Trust Stamp reports first half 2020 revenues of $1.1 million, and a total operating loss of $1.9 million, compared to revenues of $2.1 million and a total operating loss of $2 million for full-year 2019.

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