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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.

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