Next Biometrics: quarterlies, annuals, regulatory

April 15, 2025 – Next Biometrics more than doubled its revenues in fiscal 2024, amid a series of expansions of its biometrics portfolio and new agreements.

The company’s 2024 Annual Report says revenue was up 108 percent on the year, with 71.6 million Norwegian kroner (roughly US$6.7 million). Next reduced its adjusted EBITDA loss from NOK 43.7 million ($4.1 million) in 2023 to NOK 35.1 million ($3.3 million) in 2024.

Like all other companies providing fingerprint biometric technology for use with India’s Aadhaar, Next’s revenues were recently affected by the transition to requiring L1 certified biometric devices for Aadhaar authentication.

Touchpad technology, a new FAP30 fingerprint sensor and enhancements to the company’s flagship FAP20 product all provide possible runways for further growth going forward, CEO Ulf Ritsvall says.

Next Biometrics writes down Q4 revenue on disruption from Aadhaar change

January 17, 2025 – Changes to Aadhaar’s biometrics rules have prompted a temporary pause in Indian business that Next Biometrics says has caused a revenue shortfall relative to expectations in the fourth quarter of 2024.

Indian authorities mandated the certification of fingerprint biometric devices used in Aadhaar authentication to L1 specifications, rather than the L0 previously required.

The pause in business in the country has dropped Next’s quarterly revenue to 13 million Norwegian kroner (approximately US$1.1 million). The company says it had booked orders for Q4 that would bring in revenue above the NOK 27.6 million ($2.5 million) it reported in Q3.

Next now plans to deliver the unfulfilled orders in Q1, 2025, and publish its quarterly report for Q4 2024 on February 19.

Asian fingerprint scanner deals buoy Next in Q3

November 7, 2024 – Revenues from Next Biometrics’ sales of fingerprint sensors spiked by 360 percent to 27.6 million Norwegian kroner (roughly US$2.5 million) on gains in Asian markets, bringing the company within hailing distance of its break-even target, in the third fiscal quarter of 2024.

Next reports an EBITDA loss of NOK 0.3 million ($28,000) in Q3, compared to negative NOK 17.6 million ($1.6 million) in the same quarter of 2023, when it reported revenue of NOK 6 million ($0.6 million).

The difference is in higher sales in China, initial sales in Pakistan following NADRA integration, more sales in Bangladesh, and the company’s first order of fingerprint biometrics scanners from Malaysia.

NEXT Biometrics’ expanding portfolio with ACPL partnership

Nov 5, 2024 – NEXT Biometrics has also bolstered its presence in Asia, as well as South America and Africa. Read more

Wins 4 new contracts to supply fingerprint sensors to Asian partners

Sep 25, 2024 – Oslo-based biometric sensors supplier Next Biometrics has won a second order for its fingerprint sensor, which will be used in Bangladesh’s national identification program. Read more

Books first fingerprint biometrics sales in Pakistan

Aug 21, 2024 – The company has received its first order in Pakistan after integrating its Oyster III fingerprint scanner with NADRA’s national ID system. Read more

Next and Wiser partner for Chinese market expansion

June 18, 2024 – Next Biometrics has partnered with Wiser to form a jointly owned entity in Shanghai, aimed at bolstering sales and marketing operations in China. The partnership will focus on delivering advanced biometric security solutions for the banking and healthcare sectors, according to the company.

The new company will streamline Next’s participation in major tenders and is expected to boost profitability. Next’s CEO, Ulf Ritsvall, emphasizes the importance of the Asian market in their growth plans, highlighting the successful collaboration with Wiser since early 2023.

The joint venture will handle all of Next’s sales in China, leveraging Wiser’s connections in the financial industry to accelerate business development and secure new opportunities.

2 new deals and uneven Q1 financials

May 8, 2024 – Next Biometrics has reported mixed financial results for its first fiscal quarter of 2024, along with an expansion into Bangladesh in one of two deals to supply FAP20 fingerprint biometric sensors. Read more

Sensor receives Chinese security certification

Jan 12, 2024 – Next Biometrics has a significant step towards expanding its footprint in the second most populous nation in the world. Read more

Wins volume order amid Asian market breakthrough

Jan 8, 2024 – Next Biometrics is set to complete delivery of a stock of FAP20 fingerprint sensors to a Singapore-based customer by the end of Q1 2024, following a 12 million NOK (US$1.15 million) volume order it announced late last month. Read more

More financial and industry news about Next Biometrics here.

Article Topics

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