NexG profits up amid KYC expansion

NexG is reporting a sharp increase in its bottom line, despite a slight pullback in its top line results in the first quarter of 2025, in the wake of a $10 million contract extension to produce Malaysia’s ID cards and biometric passports.

The company’s first quarter of the fiscal year ended June 30 with the company reporting revenues of 88.5 million Malaysian ringgit (approximately US$21 million), down 2.6 percent from the same quarter a year ago.

After-tax profit was RM64.5 million ($15.3 million), a massive jump from RM27 million ($6.4 million) in Q1 2024.

The company recently integrated MHSB as it ramps up its KYC business.

Article Topics

biometrics  |  digital ID  |  financial results  |  NexG Bhd  |  stocks