IDEX Biometrics – Interim Report for the First Nine Months of 2020
Links to the report and an updated company presentation can be found at the end of this release.
Commercial momentum for biometric payment cards is accelerating with issuers and banks:
o Covid-19 rapidly accelerating contactless payments
o Multiple new orders from new integrators and geographies suggest broad demand
Payment card market:
o Production orders for the TrustedBio™ solution from a tier 1 global payment card manufacturer
o Large volume order from ZWIPE
o Volume orders from Hengbao, one of the largest smart card companies based in China, covering the banking, telecom and security sectors
o Design wins and orders from new global card manufacturers:
o Added additional secure element partnership; Collaborating with Shanghai Fudan Microelectronics Group Co.Ltd (FMSH) to integrate IDEX’s biometric solution with FMSH’s latest generation secure element targeted at multiple market segments
o Ramping up production shipments to the large IT and financial services customer
o Received volume production orders for both current and next generation products from Doongwan Anatech, a South Korean smart card manufacturer
Banking industry executives added to the board and the strategic advisory committee.
To broaden the investor base, IDEX filed a registration statement with the U.S. Securities and Exchange Commission to achieve dual listing on Nasdaq.
Vince Graziani, CEO, commented: “I am pleased to say our teams, as well as our customers, have remained healthy and productive. We have now begun shipping TrustedBio™ to our leading customers. We continue to build strategic partnerships with card manufacturers and secure element providers.” He added: “We have begun volume shipments and have volume orders from several customers.”
For further information contact:
Marianne Bøe, Investor Relations
Tel: + 47 918 00186
Derek D’Antilio, Chief financial Officer
Tel: +1 978 273 1344
About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX and OTCQB: IDXAF) is a leading provider of fingerprint identification technologies offering simple, secure and personal touch-free authentication for all. We help people make payments, prove their identity, gain access to information, unlock devices or gain admittance to buildings. We invent, engineer, and commercialize these secure and safe 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 the Norwegian Securities Trading Act