“While FPC has made efforts in recent years to expand into new market areas, smartphone integrations of its fingerprint sensor technology remain a central part of its business, with many of its clients located in the APAC region.”
Fingerprint Cards has set a date for its next quarterly report. The biometrics specialist will issue its Q2 update for 2020 on August 13.
The report will be published at 07:00 CEST, with a webcast/teleconference to follow at 09:00 CEST. The conference will be hosted by Fingerprint Cards CEO Christian Fredrikson and CFO Per Sundqvist.
The update is likely to shed some more light on how the COVID-19 pandemic has impacted FPC. The company had reported an EBITDA result of SEK 11.6 million in its Q1 update, but acknowledged that revenues were lower than expected as a result of supply chain disruptions caused by the pandemic and attendant lockdown measures.
While FPC has made efforts in recent years to expand into new market areas, smartphone integrations of its fingerprint sensor technology remain a central part of its business, with many of its clients located in the APAC region. Various companies in the mobile sector have experienced the same supply chain delays that Fingerprint Cards previously reported, though it isn’t clear if the situation would have intensified during Q2, since some restrictions had been lifted at the time of FPC’s Q1 report publication.
It’s also possible that the COVID-19 pandemic has had at least one positive effect on Fingerprint Cards’ strategic efforts: in July, the company said on its blog that concerns about surface transmission of the virus were pushing more consumers to embrace contactless payment cards, an area in which FPC has been working to integrate its fingerprint sensor technology. This is unlikely to have translated into tangible fiscal results for FPC since the payments industry is still inching its way toward mass deployments of biometric payment cards, but there may be positive signs of activity in this space.
Another item that may be covered in FPC’s Q2 report or its presentation is the company’s share buyback plan announced in May. At the time, FPC did not offer a rationale for the move, but such a strategy can result in a positive impact on share value.
Of course, this is speculation, and FPC has not offered any indication of what will specifically be conveyed in its Q2 update next week.
(Originally posted on FindBiometrics)