INTERIM REPORT FOR THE PERIOD JANUARY TO
THIRD QUARTER
- Net sales totaled
SEK 17.7 (18.8) million. - EBITDA totaled
SEK -1.1 (-1.8) million. - The operating profit/loss totaled
SEK -7.3 (-7.3) million. - Earnings for the period totaled
SEK -7.7 (-7.4) million. - Earnings per share totaled
SEK -0.1 (-0.2). - Cash flow from operating activities totaled
SEK -7.5 (-7.0) million. - Cash and cash equivalents totaled
SEK 64.4 (41.3) million. - ARR (Annual Recurring Revenue) at the end of the period
SEK 17.8 million (comparative figure from the end of 2022:SEK 16.2 million ).
INTERIM PERIOD
- Net sales totaled
SEK 54.8 (71.7) million. - EBITDA totaled
SEK -2.3 (3.1) million. - The operating profit/loss totaled
SEK 21.0 (-12.3) million. - Earnings for the period totaled
SEK -21.4 (-12.9) million. - Earnings per share totaled
SEK -0.3 (-0.3). - Cash flow from operating activities totaled
SEK -8.0 (3.7) million. - Cash and cash equivalents totaled
SEK 64.4 (41.3) million - ARR (Annual Recurring Revenue) at the end of the period
SEK 17.8 million (comparative figure from the end of 2022:SEK 16.2 million ).
SIGNIFICANT EVENTS DURING THE QUARTER
Precise Biometrics signed a 12-month evaluation license agreement with CanvasBio, a Korean manufacturer of fingerprint sensors. The aim of the agreement is to jointly develop a fingerprint module for use in mobile phones.
Precise Biometrics (Precise) entered into a 12-month development license agreement withRECO Biotek Co., Ltd. (RECO), aTaiwan -based provider of bio-sensing system integration solutions. Under the terms of the agreements, Precise will provide its groundbreaking sensor algorithm solution BioMatch® for integration into RECO’s fingerprint systems.
- The Board of Directors of
Precise Biometrics appointed Joakim Nydemark, former EVP and CCO of Algo, as CEO, after former CEOPatrick Höijer left the role at his own request. Joakim Nydemark has extensive industry experience in tech, software and telecoms, with previous senior positions in companies such asCrunchfish ,Anoto , TAT and Teleca/Obigo.
SIGNIFICANT EVENTS AFTER THE QUARTER
Precise Biometrics recruitedHenrik Winberg to the role of CCO for the Algo business area. Henrik will also be part of the group executive forPrecise Biometrics . Henrik arrives from the tech companyDlaboratory Sweden AB (dLAB), where he held roles as COO and Head of Sales.Henrik Winberg will take up his new role atPrecise Biometrics no later thanJanuary 17, 2024 .
Precise Biometrics appointed Fredrik André as Chief Marketing Officer (CMO). Fredrik will also be part of the group executive forPrecise Biometrics . He arrives from the role of CMO atAvensia , an expertise company in the field of modern commerce. Fredrik André will take up his new role atPrecise Biometrics onNovember 20, 2023 .
Precise Biometrics recruited Sarandis Kalogeropoulos as Chief Commercial Officer (CCO) for the Digital Identity business area. Sarandis has been involved in the company as a consultant since 2019, and has over 20 years’ experience of working with business development and sales in tech companies. He will also be part of the group executive for Precise Biometrics.
INTERACTIVE PRESENTATION OF INTERIM REPORT AND INVITATION TO Q&A
The material in the video is designed to complement the report and provide additional depth and better understanding of the stock market for the company’s business operations.
The company also invites you to a live Q&A that starts at
To take part in the Q&A session, access it via the interactive video player on the Investor Relations page here:
https://precisebiometrics.com/investors/
Questions can be asked directly in the chat function in the interactive player or submitted in advance to investor@precisebiometrics.com.
Participating on behalf of Precise:
Joakim Nydemark, CEO
CEO COMMENTS
"Full speed ahead.” That’s what I said when I took over as CEO a few months ago. Looking back on the last quarter, a lot of time has been spent on important customer projects that will generate revenues in the future, but of course also on targeting new customers and intensive development work within both Algo – Biometric Technologies and Digital Identity. We have also signed a large number of new agreements for YOUNiQ Visit, formerly EastCoast Visit, and YOUNiQ Access, which has a positive effect on our annual recurring revenue (ARR). Recruitment work has also been under way, resulting in us being able to bring in three new key people to the group executive since the end of the period.
I took over as CEO at the turn of the month August/September and succeeded
I am also pleased, a month or so into my role as CEO, to have succeeded in recruiting three really experienced people to the new group executive, which is now starting to take shape with clear areas of responsibility.
The challenging situation in the consumer electronics market continued during the third quarter and, as previously communicated, this has also affected
There are a lot of exciting things happening in the automotive industry. During the quarter, we further strengthened our collaboration with one of the leading semiconductor companies,
In our Digital Identity business area, where we offer system solutions based on biometric algorithms, we saw something of a positive change in opinion during the quarter regarding acceptance of the use of cameras in society. With an increasing need for CCTV surveillance and facial recognition to increase security in society, both in
Over the past 20 years, I have worked in technology companies that have had customer companies in the fields of mobile telephony, consumer electronics, vehicles and wearables. After traveling around
Joakim Nydemark
CEO
© Modular Finance, source