IDEX ASA – First quarter 2019 results
Oslo, Norway, 9 May 2019 – IDEX Biometrics (IDEX ASA), the leading provider of advanced fingerprint identification and authentication solutions, today announces further progress in the biometric smart card market. CEO Stan Swearingen commented:
“IDEX achieved some significant milestones in the first quarter, including our first high-volume order from a major company that’s been pioneering biometric security solutions for over a decade. As the biometric smart card market continues to evolve, are very excited by the opportunities we see in 2019.”
Highlights
Growing demand for IDEX’s biometric technologies
- Landmark customer agreement signed with global IT services and news company to supply secure fingerprint system in high volumes. The agreement includes a significant minimum commitment over several years. Shipments expected to commence in H2 2019
- XH Smart Tech showcases IDEX dual-interface sensor at Mobile World Congress in Barcelona
- Edenred biometric smart card pilot for financial inclusion segment in Mexico using IDEX sensors heralding start of new vertical
- Major Asian payment scheme demonstrates biometric payment cards featuring IDEX’s dual-interface sensor
Accelerating development of biometric smart card market through eco-system collaborations
- Collaboration with Goldpac, the largest card manufacturer in China
- IDEX and Chutian Dragon working with PAX to accelerate biometric smart card adoption in Asia
IDEX cements role as biometric solution provider with remote enroll
- Two foundational remote enroll patents granted in the US. More pending in other jurisdictions
Financial position enabling future investments
- Completion of NOK 214 million funding
Organizational changes to reflect the technology development progress at IDEX
- Appointment of new Chief Technology Officer and creation of Chief Innovation Officer role
IDEX will be hosting its annual general meeting today, Wednesday 9 May 2019, at 09:00 CET at the Vika Atrium Conference Centre in Munkedamsveien 45 in Oslo, followed by a presentation of the first quarter results by the CEO Stan Swearingen and CFO Henrik Knudtzon.
Please find the first quarter 2019 report and the presentation of the results attached.
For further information contact:
Stuart Hunt, Head of Investor Relations & Communications
+44 (0)1276 534 632
About IDEX Biometrics
IDEX Biometrics, legal name IDEX ASA (OSE: IDEX), is the leading provider of fingerprint identification technologies offering simple, secure and personal authentication for all. We help people make payments, prove their identity, gain access to information, unlock devices or gain admittance to buildings with the touch of a finger. We invent, engineer and commercialize these secure, yet incredibly user-friendly solutions. Our total addressable market represents a fast-growing multi-billion-unit opportunity.
For more information, visit www.idexbiometrics.com and follow @IDEXBiometrics
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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