Zwipe: quarterlies, annuals, regulatory

Nov 8, 2024 – A significant cut in operating expenses has salvaged a disappointing quarter for Zwipe, in terms of income.

The company’s quarterly operational update states revenues of 400,000 Norwegian kroner (approximately US$37,000), well down from NOK 1.8 million ($170,000) a year ago.

Despite the decline in revenue, Zwipe reports its cashflow from operations after changes in working capital amounted to a loss of NOK 14.8 million ($1.4 million), a better result than the loss of NOK 27.2 million ($2.5 million) in Q3 2023 due to lower operating expenses.

Zwipe has set an operating expenses target of NOK 2.6 million ($240,000) per month.

The company sees its proof-of-concept deals signed during the quarter as indications of future biometrics sales.

Zwipe’s board has proposed to raise funds with a rights issue, targeting NOK 39.7 million in proceeds.

First half 2024 report

October 3, 2024 – Access sales are perking up for Zwipe, and not a moment too soon, as the company released its latest set of grim financials. In the progress report for the first half of 2024, Robert Puskaric, president and CEO of Zwipe, emphasized the company’s focus on capitalizing on the growing demand for biometric access solutions. Read more

Wins patent for a comprehensive biometric enrollment system

August 26, 2024 – Zwipe has recently been awarded a patent (US 11995161 B2) for its innovative biometric enrollment system, which utilizes authorized devices like smartcards without requiring external power sources. The system aims to securely capture a user’s biometric data using a self-contained solution that can be conveniently delivered to the user. Read more

New integration, distribution partnerships

August 7, 2024 – Zwipe has formed three integration partnerships to build its Zwipe Access fingerprint biometric cards into complete access control systems. Read more

June 20, 2024 – Seriline has signed a distribution agreement with Zwipe to bring biometric access cards to the Nordic region. Read more

May 29, 2024 – Plasticard-ZFT has forged a partnership with Zwipe to introduce biometric access cards across Germany, Austria, and Switzerland. Ermes will distribute Zwipe Access cards throughout Italy. Read more

May 14, 2024 – Zwipe has partnered with PCB & Security Europe S.L. to further expand its presence in the Spanish and Portuguese markets. Read more

March 28, 2024 – Zwipe has partnered with a distributor of access control cards and readers in France, opening paths to a customer base spanning the French security sector. Read more 

Completes Safe Skies evaluation

January 30, 2024 – The National Safe Skies Alliance has wrapped its operational testing and evaluation of the Zwipe Access biometric smart card system at Richmond International Airport. The system is integrated into Tadera’s Airport Secure Credential (ASC) access cards used to secure access to staff-only areas of the airport.

Safe Skies is an independent third-party, non-profit organization funded by the Federal Aviation Administration. More than one hundred airports are Safe Skies members, mostly from across the U.S., along with American and other airlines. Read more

Access cards now the focus

January 16, 2024- Zwipe is choosing a new path for itself, and it has less to do with Pay, the company’s biometric payment card. The ailing maker of fingerprint-scanning cards lost its chief financial officer 11 days ago and is entering a full-on restructuring. Read more

Zwipe appoints interim CFO

January 5, 2024 – Hugo Petit is taking Zwipe’s chief financial officer role on an interim basis, having served as CFO with other companies for more than 20 years. Current CFO and Head of Investor Relations Danielle Glenn is leaving the industry to work in capital markets advise and consulting.

CEO Puskaric says Petit is experienced at enabling organizations to remain “lean and streamlined while adapting to fast-evolving markets.” Read more

Zwipe access control cards go global with Schneider partnership

October 16, 2024 – Zwipe continues its push toward profitability with a new deal with Schneider Electric that could help it capture global clients. Read more

More financial and industry news about Zwipe here.

Article Topics

biometrics  |  digital identity  |  financial results  |  stocks  |  Zwipe