FB pixel

Next Biometrics signs up fingerprint sensor distributor in China, closes deals

Q2 revenues disappoint despite improving supply chain, margins
Next Biometrics signs up fingerprint sensor distributor in China, closes deals
 

Next Biometrics has received a volume purchase order for its fingerprint sensors from Chinese distributor XM Holder, as well as finalizing a $2.2 million biometric hardware deal with an OEM customer in India.

Under the XM Holder deal, Next will supply several of its fingerprint sensor models for use by new customers in India, China, Indonesia and other Asian countries, and is worth NOK 2.4 million (roughly US$247,000).

XM Holder is already supplying a Next customer, according to the announcement, and will now offer the company’s biometric sensors to other customers in payments and fintech.

The deal with the India-based OEM to supply FAP20 fingerprint sensors was originally unveiled in early-2022, and is now final, as a milestone on which 90 percent of the order was conditional has been passed. The OEM will now pursue the final steps towards certification to an Indian government program.

Revenues disappoint despite improving supply chain, margins

Next also reports NOK 11.7 million ($1.2 million) in revenue during its fiscal second quarter of 2022, at a gross margin of 36 percent.

The earnings represent a modest gain over revenues in the same quarter a year ago, which were NOK 10.5 million ($1.08 million). After-tax loss similarly increased from NOK 7 million ($720,000) in Q2 2021 to NOK 9.5 million ($980,000).

Next CEO Peter Heuman says in the report that the company booked 5 design wins with new customers during Q2, but revenues during the quarter were not satisfactory. Gross margin, though fluctuating, is trending higher, and the company’s microchip supply chain is improving, but booked orders worth NOK 8 million ($820,000) were not shipped due to supply issues.

Article Topics

 |   |   |   | 

Latest Biometrics News

 

Financial fraud prompts $14M digital identity intelligence investment, calls for action

Financial institutions and regulators continue to invest in anti-fraud and identity verification. Barclays has invested in anti-fraud platform Heka as…

 

Age estimation at the shop, age verification online: France laws tested with questions

In France, age assurance tools are showing up online and at retail vendors selling age restricted products, prompting questions from…

 

Ofcom planning more safety measures to tackle addictive design

It has been noted previously in these pages that the UK is looking to be taken seriously in pursuing its…

 

OFIQ community reviews early results of biometric quality assessment tool

The standardization of image quality for face biometrics is a major step towards making population-scale biometric systems functional, and as…

 

New binocular iris scanner from IriTech designed for high volume use cases

Iris recognition provider IriTech, Inc. has announced the launch of the IriAegis-BK, a binocular iris scanner designed for high-throughput biometric…

 

Laos begins integrating digital ID cards into public agencies

Government agencies in Laos have received the order to begin integrating the country’s chip-enabled identity cards and citizen databases. Ministries,…

Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Biometric Market Analysis

Most Viewed This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events