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FacePhi biometrics sales soar nearly 90% in busy first half

FacePhi biometrics sales soar nearly 90% in busy first half
 

Face biometrics provider FacePhi says sales grew almost 90 percent in the most recent six months compared to the first six months of 2021. Sales reached €7.86 million (US$7.99 million).

Executives also claimed that the Spanish company‘s unaudited earnings before interest, taxes, depreciation and amortization, or EBITDA, was €455,869 ($463,550), a 180 percent increase. FacePhi also reported an 81 percent jump in annual net revenue from its facial recognition and related technologies in 2021.

Headcount rose by 200 globally in the last six months, the company says.

The company opened a new subsidiary during the period called FacePhi Latam and located in Uruguay. A third subsidiary, FacePhi EMEA, was launched in the United Kingdom. It already has operations in South Korea.

Also, during the first six months, FacePhi won a contract in Nicaragua. That was the last blank spot it had on the Central American map.

At the same time, the company brought its selfie biometrics and liveness detection into a new industry – shared mobility – and is sizing up the public administration industry.

CEO Javier Mira says FacePhi is improving its business model for more recurring revenue and scalability.

This post was updated at 3:50pm Eastern on August 22, 2022, to clarify that FacePhi’s is serving a customer in Nicaragua, but does not have an office there at this time.

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