Idex encouraged by progress towards biometric cards deals despite Q2 revenue

Revenue does not adequately reflect the situation for Idex Biometrics in the second quarter of 2026, according to its latest earnings announcement. Instead, it is the funnel that is in place, and prospects for converting leads into sales of its biometric cards for access control, digital identity and payments.

Idex reports revenue of 1.6 million Norwegian kroner (approximately US$170,000) in Q2. Adjusted EBITDA was negative NOK 20.2 million ($2.2 million), and the company has NOK 28.5 million ($3.1 million) on hand.

The prospects for future revenue look better, however, with a new CEO, a jump from 7 signed or live pilots in May to 23 in August and an increase from 9 to 25 channel partners.

The company has committed to deliver all of an NOK 23.7 million ($2.6 million) backlog in the second half of this year.

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biometrics  |  financial results  |  Idex Biometrics  |  stocks