Fingerprint sensor developer NEXT Biometrics has announced its second quarter and first half results for 2015. The company saw a dip in revenues and income due to a major shift in the company’s product line, which is expected to ultimately reap rewards going forward.
NEXT Biometrics saw Q2 revenues of NOK 0.3 million, down from 2.4 million in Q1 and 0.7 million in Q2 of 2014. Overall, the company had a net loss for the second quarter of NOK 24.5 million, compared to a loss of NOK 17 million in Q2 last year. The total net loss for the first half of this year was NOK 44.1 million.
In a statement, the company’s CEO, Tore Etholm-Idsøe, attributed the losses mostly to the switch from one general fingerprint sensor model to a range of six specialized models, which “lead to agreeing with customers to delay ordered shipments until new sensors can be delivered,” he said. Still, Etholm-Idsøe added, that “will have a significant positive impact going forward.”
That idea is backed up to some extent by statements the CEO made after Q1, when he explained that while the introduction of the new models “had the effect of postponing some sales,” the company was nevertheless “set for high volume growth.” The company also has high expectations for its much-touted Tier 1 customer order, which NEXT Biometrics says is set to launch in five to seven weeks; and its low-cost sensors could increasingly find a home in the expanding ecosystem of the Internet of Things, just as they are, according to a press release, “getting increased attention” in the smartphone market now. Moreover, a recently announced partnership with “techcessories” developer iWallet may reap further rewards as its ensuing product line takes shape going forward.