FB pixel

Precise Biometrics: quarterlies, annuals, SEC actions

Precise narrows net loss as biometrics portfolio expands in Q1
Precise Biometrics: quarterlies, annuals, SEC actions
 

May 15, 2024 –Precise Biometrics revenues grew by 13 percent to 21.7 million Swedish kronor (roughly US$2 million), compared to a year earlier, but the big changes a swing of EBITDA from a loss of nearly SEK 600,000 a year ago to a gain of SEK 3.1 million for the fiscal first quarter of 2024, which ended March 31.

Net earnings represented a loss of SEK 3 million, or 0 per share, compared to a loss of SEK 6.9 million, or SEK 0.2 per share, in last year’s Q1.

A pair of delayed customer payments totaling SEK 11 million artificially held down cash flow in the quarter, but are not expected to have a long-term impact.

Precise added palm biometrics as the third modality in its portfolio in March.

Precise sees gains in biometric access control ahead after 2023 revenue drop

April 10, 2024 – 2023 was a year of transitioning to new markets and verticals for Precise Biometrics, with revenues dropping by 17.5 percent to SEK 75.1 million (approximately US$7 million) and an EBITDA loss of SEK 1.7 million ($160,000).

Precise’s strategy for the past fiscal year was largely oriented around its YOUNiQ biometric access control software. The company launched an initiative to bring YOUNiQ Visitor and YOUNiQ Access to American customers, including new distribution partnerships, and improved its bank balance with a preferential share issue netting SEK 40 million ($3.7 million).

Annual recurring revenue grew to SEK 18.3 million ($1.7 million) during full-year 2023, from SEK 16.2 million in 2022, according to the company’s annual report.

Precise reports declining earnings and sales

Feb 16, 2024 – The fingerprint verification software vendor has reported declining earnings and sales. Full story here

A little stability for Precise but a lot of fall in Q3 report

November 10, 2023 – Face and fingerprint verification software maker Precise Biometrics is reporting mixed financial signals so far for fiscal 2023.

For the quarter ended September 30, the company reported a loss of SEK 7.2 million (US$660,000) on revenue of SEK 17.7 million ($1.6 million). Precise does not report per-share results. In the same period last year, the company reported a loss of SEK 7.3 million ($670,000) on revenue of SEK 18.8 million ($1.7 million).

Executives announce the first three quarters of fiscal 2023 with similarly conflicting dynamics.

For the period ended September 30, Precise reported a loss of SEK 21 million ($1.9 million) on revenue of SEK 54.7 million ($5 million). A year ago, the company said it had posted a loss of SEK 12.2 million ($1.1 million) on revenue of SEK 71.7 million ($6.57 million).

More financial and industry news about Precise Biometrics here.

Related Posts

Article Topics

 |   |   |   | 

Latest Biometrics News

 

Age verification comes to social media as age of unregulated use nears an end

If trends continue, social media is set to follow in the path of cigarettes: an activity benefitting early from lax…

 

AI can save UK govt £40B annually, revolutionize public services: Blair Institute

AI will soon be used to pre-check applications for correct information, triage cases by calculating complexity and routing them appropriately,…

 

Papua New Guinea completes national data protection and governance policy

The Ministry of Information and Communications Technology has announced the completion of the national data protection and governance policy, marking…

 

Interpol issues call for biometrics firm to provide mobile data collection devices

Interpol has issued a tender for mobile ​​biometric collection (MBC) devices for collecting fingerprints and facial images. Specifically, the project…

 

ICE, CBP sued for details on migrant data sharing agreements

Digital rights advocacy group Access Now is suing the U.S. Customs and Border Protection (CBP) and Immigration and Customs Enforcement…

 

French travel minister joins UK lawmakers in floating EES postponement

The European Union’s biometrics-based travel scheme is raising concern in France with the local transport minister not excluding postponement. Minister…

Comments

Leave a Reply

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

Most Read This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events