Norway · Delayed Price · Currency is NOK IDEX Biometrics ASA Earnings Call Transcripts
Fiscal Year 2026
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Active pilots tripled and backlog rose to NOK 23.7 million, with Q2 revenue at NOK 1.6 million and gross margin at 19%. Channel partner network expanded, and strong growth in orders and revenues is expected in the second half, driven by regulatory and cybersecurity trends.
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Q1 2026 saw a strategic shift with the Mythos launch, driving strong pilot activity and expanding partnerships. Gross margin reached 58%, OpEx fell 44% year-over-year, and cash position improved to NOK 70 million post-placement.
Fiscal Year 2025
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Certified biometric access cards are now deployed with initial paid customers, following operational restructuring and cost reductions. The sales pipeline is growing, with international expansion planned and a focus on recurring revenue, though working capital remains a key risk.
Fiscal Year 2024
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Transformation program and capital raise strengthened finances, while Q3 saw limited revenue as the company focused on certifications and groundwork for future growth. Key milestones include Visa and Mastercard approvals, with product launches expected in 2025.
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Q2 revenue remained flat at $0.4M, with gross margin improving to 40% and operating expenses down 18% due to restructuring. All revenue now comes from new products, but geopolitical unrest in Bangladesh and Visa certification delays are impacting near-term growth.