IDEX Biometrics’ Report for First Quarter 2020
The report is enclosed in pdf file.
CEO Vince Graziani and CFO Derek D’Antilio will hold a conference call at 15:00 CET today.
Norway: +47 2350 0243
Sweden: +46 8566 42651
United Kingdom: +44 3333 000804
United States: +1 631 913 1422
Confirmation code: 16628677
Report highlights:
» IDEX continues to see significant progress in the biometric payment card market and the global Covid-19 pandemic has accelerated the need for a completely contactless solution.
» Vince Graziani joined IDEX as CEO on February 27, 2020. The company expects to benefit from his considerable experience driving sales, strategic partnerships, and growth in technology companies.
» IDEX’s technology has been certified by two major global payment networks; China UnionPay and a large US based network. These two networks combined have issued 70% of branded payment cards. IDEX is the only fingerprint company to have achieved certification for its system solution with two global payment networks.
» IDEX launched TrustedBio™, a family of dual-interface products designed to dramatically reduce biometric card cost while improving performance, security, and manufacturability.
» IDEX’s TrustedBio™ technology was selected by IDEMIA, the global leader in Augmented Identity and a leading global payment card manufacturer, for their next generation biometric payment cards.
» IDEX’s sensor was selected by Zwipe, a pioneer in the biometric payment card market to be combined with Zwipe Pay ONE to enable a complete system solution for biometric payment cards.
» IDEX has received its first production orders for its fingerprint biometric sensors and software with shipments expected to begin to ramp in the second quarter of 2020.
» On 11 May 2020, the company completed a $10.3 million private placement of shares to fund expected growth.
Vince Graziani, CEO of IDEX, commented: “Since joining IDEX, I have been thoroughly impressed with the team, technology, and the significant market opportunity. In my first two months with IDEX, the team has continued to work productively under Covid-19 constraints and met our commitments. The IDEX team has achieved significant milestones in the first quarter and into the second. Our technology was included in certified biometric cards by two major global payment networks representing 70% of global branded payment cards. We launched a new product family, TrustedBio™, which we believe is a real game changer in terms of cost and performance. IDEX was selected by IDEMIA, one of the world’s largest card manufacturers and Zwipe, a pioneer in biometric payment cards for their next generation of biometric payment cards.”
He added: “I want to thank our existing and new shareholders for their recent investment which will support our growth. I am excited to lead IDEX to the next phase of growth as I believe we have the strongest team in the industry and the best technology.”
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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