IDEX ASA preliminary report for 2015
Fourth quarter highlights – design win and commercial production
· IDEX touch fingerprint sensor selected by tier-one mobile phone OEM
Major milestone and strong reference point for other tier-one customers
· First volume production order from tier-one mobile OEM design win
Volume production order validates IDEX’s technology
· Initial volumes of polymer sensors manufactured with high yields
· First flexible polymer touch sensor for standard size payment and ID cards delivered to customer
Targeting leading position in multi-million-unit market with initial pilots in near future
· Continued progress towards commercialization of unique in-glass sensor
IDEX only vendor with solution for sensing in-glass rather than under-glass
· IDEX and Bio-Key launches USB fingerprint reader for Windows devices
Targeting the growing market of replacing passwords with biometric authentication
· Invesco Asset Management and Woodford Investment Management exercised warrants, investing a total of NOK 448 million
Major shareholders demonstrate confidence in IDEX technology, products, management and strategy
Other highlights in 2015 – partnerships and customers include leading global companies
· Strategic partnership with global payments company validated potential in smartcards market
· Agreement with Fortune 500 company to accelerate commercialisation of in-glass sensor
· Volume manufacturing established in partnership with Cypress Semiconductor and Amkor Technology
· First production order for Eagle touch sensor with World Wide Touch Technology
· Woodford Investment Management invested NOK 297 million in a private placement in the second quarter
· IDEX up-listed to the Oslo Børs main list in May
Outlook and milestones for 2016 – additional design wins and production orders expected
· IDEX positioned for accelerated growth within a multi-billion dollar market for fingerprint sensors based on strong product portfolio and established volume manufacturing partners
· Initial production order for tier-one handset expected to begin shipping in second quarter and lead to additional orders
· Positive feedback from OEMs on diverse range of silicon- and polymer-based sensors, expect further design wins
· Significant advancement in programme with global payments company, IDEX ramping organisation to support demand for card products
· Expects pilot orders of new card sensor in the second quarter of 2016 and volume shipments in late 2016
· Expects customer evaluations of in-glass sensor solutions in the second quarter of 2016 and industrialising supply chain for volume by the end of 2016
The full report is attached in pdf file/link at the very end of this notice.
IDEX’s strategy continues to focus on exploiting its sensor technology across three mass markets: mobile devices, ID & smart cards and the Internet of Things.
IDEX is the only fingerprint sensor manufacturer in the market that has the IP, know-how and products to offer both conventional silicon sensors, the Cardinal product family, and next-generation polymer off-chip sensors, the Eagle product family, to leading OEMs. The Cardinal sensor provides highly competitive price and per¬formance characteristics within smaller form factors, whereas the Eagle sensor has a unique cost position for medium sized sensors. IDEX now has received production volume orders for both the Eagle and the Cardinal sensors in various market segments. The shipments of the Cardinal sensor for the tier-one mobile OEM is expected to commence in the second quarter. IDEX expects these market breakthroughs to generate more design wins and pro¬duction orders for mobile devices throughout 2016.
IDEX’s strategic partnership with a major global payments company is pro-ceeding very well, and IDEX is currently building out its production organisation in support of demand. IDEX believes that its world’s first polymer touch sensor for cards will give it a leading position for fingerprint sensors in the cards market. Customer trials with the sensor will be conducted during the second quarter, potentially leading to initial volume shipments by the end of 2016.
Work on IDEX’s unique in-glass sensor technology has also been pro-gressing, and IDEX expects evaluations by lead customers in the second quarter of 2016. IDEX believes this is the ultimate biometric solution for the mobile device market, offering superior biometric performance and excellent industrial design flexibility.
Over the past year, adoption of fingerprint sensors in mobile devices has become widespread, and growth is expected to accelerate. Secure payment services are among the leading drivers of the need for secure and convenient authentication in the digital world.
IDEX believes that its portfolio of high-performance and cost-effective products, supported by leading-edge IP, a deeply knowledgeable organisation, tier-one industry partners, and a solid financial position, will allow the compa-ny to capture a significant share of the fast-growing, multi-billion dollar market opportunity for fingerprint sensors.
26 February 2016
Hemant Mardia, CEO, +44 7788 922 171, hm(at)idexbiometrics.com
Henrik Knudtzon, CFO, +47 9302 2827, hk(at)idexbiometrics.com
IDEX has developed the world’s most advanced fingerprint imaging, recognition and authentication technology. IDEX’s innovative Intellectual Property (IP) is protected by a comprehensive portfolio of more than 225 patents, and IDEX continues to enhance the portfolio with its commitment to ongoing world class research and innovation.
The IDEX business model involves the design of fingerprint sensor IP and products. IDEX sells fingerprint sensor products, and licences its technology to global Original Equipment Manufacturers (OEM) partners. These partners utilise IDEX IP in a range of innovative biometrically enabled products and pay IDEX either a royalty on every product item produced, or purchase the fingerprint sensor units.
IDEX’s addressable market represents a multi-billion unit opportunity, centred on three core markets:
* Mobile Devices
* ID security and Smart Cards
* The Internet of Things
IDEX has an exciting and competitive product ready 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 these products.
In February 2016, IDEX announced that it had received its first production order for its Cardinal touch fingerprint sensor optimized for tier-one mobile handsets, IDEX will begin to ship units in the second quarter 2016.
IDEX also recently announced it had developed the world’s first flexible polymer touch sensor suitable for ISO-card integration.
IDEX ASA (IDEX:NO) is a Norwegian public company, founded in 1995, and its shares are Listed on the Oslo Børs (Oslo stock exchange). For more information, please visit www.idexbiometrics.com or contact IDEX at email@example.com