IDEX Biometrics’ Annual Report 2019
The board of directors of IDEX Biometrics ASA resolved the 2019 annual report on 21 April 2020. The financial statements are consistent with the preliminary report disclosed on 27 February 2020. The board does not propose a dividend. The 2019 annual report is enclosed in pdf file and is available at www.idexbiometrics.com.
IDEX Biometrics ASA Annual report 2019
The board resolved to call the annual general meeting on 15 May 2020. The notice of the annual general meeting will be issued in due course.
IDEX continues to be a leader in bringing fingerprint biometric technology to mass markets where the company believes now more than ever, it has a compelling solution for card issuers and consumers. Over the last year, the biometric smartcard market moved forward with a number of additional pilots and strong consumer acceptance of fingerprint biometrics.
During 2019, significant progress was made in the development of the required ecosystem while on the manufacturing side, IDEX worked with its customers to achieve high-volume production of biometric smartcards. IDEX’s remote enrollment technology has been recognized as the industry standard and critical to mass market adoption of biometrics on payment cards and this was validated as IDEX in 2019 entered into licensing agreements with two major card manufacturers; IDEMIA and Chutian Dragon. IDEX became the first fingerprint biometric sensor company to achieve EMVCo™ security certification. Very importantly, IDEX was awarded its largest ever sales contract, a USD 6 million agreement to supply sensors and software to a leading global IT and financial news company. Production shipments for this program are expected to begin in the second quarter of 2020.
Already in 2020 IDEX has launched a major product; the TrustedBio™ sensor and software platform that enables significant cost and performance improvements and the company has entered into a supply agreement with one of the largest global payment card manufacturers to incorporate IDEX’s sensor technology into their biometric payment cards. IDEX’s technology was recently included in the first biometric payment card certified on the China UnionPay network and the company’s technology was also included in a certified biometric card with one of the world’s largest payment card manufacturers.
The board is excited about the company’s prospects going forward. With very large addressable markets, cost and performance leading technology, newly certified payment cards, a new and experienced CEO, a strong team and a supportive shareholder base the company is positioned for commercial success.
The auditor’s report contains a clarification.
For further information contact:
Marianne Bøe, Investor Relations
E-mail: marianne.boe@idexbiometrics.com Tel: + 47 918 00186
Derek D’Antilio, Chief financial Officer
E-mail: derek.dantilio@idexbiometrics.com Tel: +1 197 827 31344
About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX and OTCQB: IDXAF) is a 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 on Twitter @IDEXBiometrics
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
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