IDEX Biometrics ASA – Third quarter 2019 results
Oslo, Norway, 13 November 2019: IDEX Biometrics (IDEX ASA), a leading provider of advanced fingerprint identification and authentication solutions today reports third quarter 2019 results.
CEO Stan Swearingen commented: “IDEX made substantial progress in this quarter. In the biometric payment card market, our largest potential revenue opportunity, we’re seeing positive developments in manufacturing and certification, whilst our remote enroll solution has the potential to become the industry-standard. In the access control market, we’re seeing the beginning of shipments and design-in wins and it’s my strong belief that both these markets will fully materialize in 2020.”
Volume orders begin for global financial news and IT services customer; additional design wins achieved
- First purchase orders received, and production ramp preparations started as part of multi-year, multimillion-dollar commitment
- IDEX’s biometric solutions selected for additional access control cards by two Asian customers with shipments anticipated in H1 2020
Manufacturing milestones for biometric smart cards achieved in Q3
- IDEX customer in Asia achieves cost-effective, mass production milestone for biometric smart cards
- Partnerships with Sian and Silone Cardtech to accelerate high volume production of biometric smart cards
- Low-cost, go-to-market solution achieved through pre-lam supply agreement with Feitian
Certification process underway
- IDEX Biometrics’ dual-interface technology validated by independent labs to meet multiple global payment schemes’ certification requirements
- Remote enroll solution outperforms in certification tests
- Expect multiple card integrators to be certified in Q4
Leveraging on-card remote enrollment IP with multiple license agreements
- First remote enroll license agreement entered into with IDEMIA
- License agreement signed with Chutian Dragon in China
Strengthening patent portfolio with UK patent grant for on-card remote enrollment
- Third major territory (following US and Australia) grants remote enroll patents to IDEX
Improving access to US shareholders through OTC up-listing
- IDEX ticker (IDXAF) now trades on the U.S. OTCQB Market
IDEX Biometrics’ CEO Stan Swearingen and CFO Derek D’Antilio will host a conference call today at 10.00 CET. Dial-in details are as follows:
|Norway||+47 21 401 884|
|United States||+1 334 777 6978|
|International||+44 208 089 2860|
Attached is the third quarter 2019 report.
For further information contact:
Stuart Hunt, Head of Investor Relations & Communications
+44 (0)1276 534 632
About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX and OTC: 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 @IDEXBiometrics
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.