Precise Biometrics: quarterlies, annuals, SEC actions

Feb 13, 2025 – Net sales for Precise Biometrics rose 15.7 percent percent from 75.1 million Swedish kronor (approximately US$7 million) last year to SEK 86.9 million ($8.1 million) in fiscal 2024, which coincides with the calendar year. EBITDA surged into the black from negative SEK 1.7 million ($0.2 million) in fiscal 2023 to SEK 13.4 million ($1.3 million).

Cash flow swung from a loss of SEK 10.8 million ($1 million) to a gain of SEK 10.1 million ($0.9 million) and Precise’s loss in overall earnings narrowed from SEK 26.4 million ($2.5 million) last year to SEK 8.4 million ($0.8 million), the company reports.

Precise closed the year with SEK 21.8 million ($2 million) in net sales and EBITDA of SEK 3.4 million ($0.3 million) in Q4. That represents the fifth consecutive quarter of growth and positive EBITDA.

CEO Joakim Nydemark says there is growing demand for Precise’s biometric algorithms for mobile devices and automotives, and packaged solutions for access control and visitor management.

Significantly improved earnings for Q3 2024

November 20, 2024 – Net sales for the quarter totaled 22.8 million Swedish kroner (US$2.07m), up from SEK 20.6 million (US$1.86) in Q2, according to a quarterly report. Earnings for the period totaled SEK 1.4 million (US$127,000).

Precise Biometrics CEO Joakim Nydemark says “through a continued focus on sales activities, the launch of new offerings and amazing efforts in our customer projects,” the company increased sales by 29 percent compared with the corresponding period last year.

EBITDA is 6.8 million SEK, positive for the fourth consecutive quarter. And the firm reports an operating profit (EBIT) of SEK 1.2 million for the quarter – positive for the first time since 2020.

Incremental gains, progress towards commercialization

August 19, 2024 – Precise Biometrics is making progress on its “commercialization journey,” according to CEO Joakim Nydemark, but it is incremental.

The company reports net sales of 20.6 million Swedish kronor (approximately US$1.97 million) in the second quarter of 2024, up from SEK 17.9 million ($1.71 million) in Q2 2023. EBITDA was SEK 0.1 million, after falling in the red by SEK 0.6 million ($57,000) a year ago. Total earnings were still negative SEK 5.6 million ($0.54 million).

Precise expects multiple customer projects involving its algorithms to generate revenue in the second half of 2024 and beyond, and Nydemark says the company’s investment in the Netherlands and updated BioLive fingerprint biometrics software and multi-factor authentication products provide reason for optimism.

Narrows net loss as portfolio expands in Q1 2024

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.

Gains in 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.

Declining earnings and sales

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

A little stability but a lot of fall in Q3 2023 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.

Article Topics

biometrics  |  digital identity  |  financial results  |  Precise Biometrics  |  stocks