IDEX ASA interim report for the first quarter 2015
Highlights in the first quarter
- IDEX demonstrated a new generation fingerprint touch sensor for mobile devices in strategic partnership with Cypress
– Targets top-tier mobile customers with a patent protected best in class accuracy, low cost solution
- Woodford Investment Management announced investment of NOK 297 million in IDEX
– Strong recognition from highly influential fund manager enabling parallel mass-market development
- IDEX continued to strengthen organisation and attract fingerprint sensor industry experts
– Validates our leading technology and supports expected traction in the market for commercialisation
- Acquired superior software algorithm and key patents for small-area fingerprint touch sensors
– Enables IDEX to deliver significantly enhanced security and user convenience for mass-market sensor solutions
- Partnership with Trustonic, the leading provider of Trusted Execution Environments (TEEs) for smart devices
– Will integrate IDEX’s sensors and software with Trustonic TEE, delivering secure on-device biometric authentication
- Strong presence at key industry events CES in Las Vegas and MWC in Barcelona
– IDEX and partners demonstrated new in glass solutions, swipe and touch sensor products
- Applied for transfer to Oslo Børs main list
– Oslo Børs approved the application and first day of listing was 11 May 2015
Outlook and key upcoming milestones
- IDEX is on the threshold of commercialising its best-in-class sensor technology as one of very few companies with IP for preferred capacitive fingerprint sensors for mass market applications in mobile, cards and Internet of Things
- Expecting to sample off-chip touch sensors from May 2015, with deployment in mobile devices by year-end
- Major investments secured a solid financial basis for ambitious growth strategy
- Resource expansion and attracting key experts from the industry to deliver business execution
- Continuing to develop partnerships providing established high-volume manufacturing and market channels to exploit identified opportunities during 2015
- Target to sample latest sensor in-glass technology by the end of 2015
- Deployment of fingerprint sensors is set to expand rapidly in 2015. IDEX is now positioned to capture significant share of the multi-billion dollar market opportunity for fingerprint sensors.
IDEX’s strategy is to leverage its core technology across three mass markets: mobile devices, ID & smart cards and devices being part of the Internet of Things.
Patent protection is paramount for major customers in this industry. IDEX has a very strong IP position, and our acquisition in the first quarter of a world-leading software algorithm and key patents for small area fingerprint touch sensors provides IDEX with a key competitive advantage. As touch sen-sors continue to get smaller, more advanced algorithms become critical in order to deliver reliable fingerprint matching performance.
In terms of IDEX’s Rresearch and development, the major short-term effort is the new off-chip touch sensor. This is on target for sampling in the second quarter. It has been confirmed that the sensor has very strong biometric performance, and it will have a ground-breaking cost advantage due to the innovative off-chip architecture.
A key part of IDEX’s product road-map is to implement sensors in glass. The company believes that this re-volutionary sensor implementation is unique to IDEX and will provide the ultimate solution for integration of fingerprint recognition in mobile de-vices. Sampling of fingerprint sensors implemented in glass is targeted by the end of 2015, based on progress achiev-ed to commercialise the technology.
IDEX is also securing traction in the card market. IDEX expects that the interest will lead to sensors deployed in card pilot programs later in 2015.
Developments in the first quarter have strengthened our confidence in the opportunities for IDEX in mass-market deployment of fingerprint solutions.
The full report with interim financial statements are enclosed in pdf file or use the link at the very end of this notice.
11 May 2015
Hemant Mardia, CEO, +44 7788 922 171, hm(at)idexbiometrics.com
Henrik Knudtzon CFO, +47 9302 2827, hk(at)idexbiometrics.com
IDEX ASA specialises in fingerprint imaging and recognition technology. The company has a strong patent portfolio consisting of 25 patent families including more than 215 granted patents, as well as cross licenses with Apple. IDEX has a highly competitive product road map including swipe sensors, touch sensors with disruptive cost positions, and a unique in-glass solution. The company is currently in the process of commercialising the products.
IDEX’s addressable market represents a multi-billion unit opportunity, centred on three core markets: Mobile, ID & smart cards and the Internet of Things. IDEX has seen a substantial increase in interest from global OEMs in the last quarters, and is positioned as of three independent players with the relevant IP to capture market share.
IDEX ASA (ticker IDEX) is a Norwegian public company listed at the Oslo Børs (Oslo stock exchange). For more information, please visit www.idexbiometrics.com or contact IDEX at email@example.com