IDEX Biometrics – Interim report for the first half of 2020

Nachrichtenquelle: globenewswire
13.08.2020, 07:56  |  113   |   |   

The report and an updated company presentation are enclosed in pdf files.

Report highlights:
»             Contactless payments have accelerated as a result of the global Covid-19 pandemic and IDEX Biometrics (IDEX) and others in the industry expect fingerprint biometrics to play a key role in a fully contactless solution
»             IDEX has received over USD 1 million in product orders to date in 2020 as the company begins its commercial ramp
»             IDEX’s technology has been certified by two major global payment networks; China UnionPay and a large US based network. The networks combined have issued 70% of global branded payment cards. IDEX is the only fingerprint sensor company to have achieved certification for its system solution with two global payment networks
»             IDEX’s TrustedBio technology was selected by IDEMIA, the global leader in Augmented Identity and a leading global payment card manufacturer, for its next generation biometric payment card
»             IDEX’s sensor was selected by Zwipe, a pioneer in the biometric payment card market, to be combined with the Zwipe Pay ONE platform, to enable a complete system solution for biometric payment cards
»             IDEX has started shipping TrustedBio. The timing is consistent with IDEX’s TrustedBio announcement in February 2020
»             IDEX received CARES Act or Coronavirus relief in the USA including payroll tax relief
»             IDEX raised USD 10.3 million to fund product development, meet customer production requirements and fund working capital

Vince Graziani, CEO of IDEX, commented: “Following the coronavirus outbreak, consumers want to go cashless and many businesses are discouraging the use of cash because of hygiene concerns. This drives demand for a secure and touch-free payment experience. IDEX is in position to meet this demand with the right products, partnerships, critical certifications, orders and the start of production unit shipments.”

He added: “In the second half of 2020, the company expects additional design wins and continued commercial order growth for biometric payment cards leading to a projected revenue ramp-up in 2021.”

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 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

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