Biometrics stocks to reach more investors with Plurilock launch and Ipsidy uplist
A couple of publicly-traded companies providing biometrics and digital ID technologies are increasing their investor access with Plurilock launching to the OTCQB exchange and Ipsidy preparing to uplist, while secunet has reported strong sales during its 2020 fiscal year, and Mitek is preparing to report its Q1 2021. Both Google and Fitbit are saying their deal is complete, though the Justice Department investigation has not concluded.
secunet revenue growth continues
secunet has reported sales revenue gains from its biometrics and IT security solutions of 26 percent over the previous year to €285.6 million (US$347 million), based on provision calculations.
The company’s EBIT improvement was even more robust over the past year, rising 55 percent to €51.6 million. The improvement came largely due to secunet’s secure mobile workstations business.
“At the beginning of the past financial year 2020, we expected sales revenues and EBIT to be slightly below the previous record level of 2019. Due to special effects, we achieved results in the financial year 2020 that clearly surpassed our own expectations,” says Axel Deininger, CEO of secunet Security Networks AG. “However, we cannot yet assess whether these effects will continue into 2021 and whether the supplier situation will remain stable. The forecast for the current financial year 2021, which we announced to the market back in November, takes this into account.”
secunet last year announced the deployment of its eGates to the border between Hungary and Serbia to support the European Entry/Exit System (EES), which involved biometric identity checks.
Plurilock stock goes live on OTCQB market
“The cybersecurity industry continues to generate growing interest from investors here in Canada and in international markets,” said Ian L. Paterson, CEO of Plurilock Security. “By cross listing our ticker to trade on the OTCQB, we will look to share our vision with a broader investor community that includes U.S. shareholders. When we began trading on the Toronto Stock Exchange Venture in September 2020, one of our immediate mandates was to list on an additional exchange. With this listing now completed, we are looking forward to increasing liquidity in the North American markets.”
OTCQB is intended to serve as a Venture Market for early-stage and developing companies to gain access to a wider network of investors, according to the announcement.
Plurilock signed up X10 Networks as a distribution partner for its behavioral biometrics technology earlier this month.
Ipsidy prepares to uplist to national exchange
Ipsidy will hold its annual shareholder’s meeting as a livestream on March 15, 2021, with plans to approve several structural corporate changes to help prepare for uplisting to a national stock exchange in the months ahead.
The proposed structural changes include a reverse stock split, as well as the appointment of an auditor.
The company says its recently-completed implementation of biometric identity verification and FIDO-compliant authentication for an international bank, and its completed integration of its biometric identity verification platform with LoginID indicate the effectiveness of its sales strategy and demand for its solutions.
“2020 was a challenging year for all of us, and I want to express our empathy and support for those who continue to suffer from the physical and financial effects of the pandemic,” comments Phillip Kumnick, chairman and CEO of Ipsidy Inc. “2020 was also a period of significant transition for Ipsidy. I am proud of how the team at Ipsidy worked together to position our company for success in 2021. Indeed, we believe the mandates and additional opportunities secured by Ipsidy will start to come to fruition in 2021, and we are very excited about the growing demand for our mobile biometric platform services and the future of our company.”
Mitek Q1 2021 results due January 28
Mitek will deliver its financial results for the first quarter of its 2021 fiscal year on January 28.
The company will host a conference call and live webcast for analysts and investors at 1:30pm Pacific Time, and a phone replay will be available for two hours following the end of the call.
Regulators decline to block Google-Fitbit deal
Google’s acquisition of Fitbit has become official, according to a company blog post. A Fitbit blog post referred to binding commitments made to regulators that Fitbit data will not be used for ad targeting.
Google SVP of Devices and Services insists “this deal has always been about devices, not data,” in a statement, and sought to reassure Fitbit users that their privacy will be protected. The Android APIs that enable wearables to interact with Android devices will also be maintained, according to the statement.
A U.S. Justice Department review, meanwhile, is ongoing.