NEXT Biometrics Releases Q1 Results, 2016 Outlook

NEXT Biometrics has announced its Q1 results and its outlook for 2016.

NEXT Biometrics Issues Q1 Report, 2016 OutlookFor the quarter ended March 31st, the company saw increased operating revenues, at NOK 5.2 million compared to NOK 1.7 million in Q4 of 2015 and NOK 2.4 million in Q1 of 2015. Expenses were up as well, however, and the net result for the quarter was a loss of NOK 49.5 million, compared to net losses of NOK 47.5 million in Q4 of 2015 and NOK 19.6 million in Q1 of 2015.

Still, announcing the results, CEO Tore Etholm-Idsøe was keen to highlight the company’s positive business developments in the quarter, with particular emphasis on its first major smart card orders, with client projects “larger than initially estimated,” and “expected to generate positive margins from an early stage.” Etholm-Idsøe reaffirmed that for 2016, “NEXT has focused most of its R&D resources to Smart Card activities.”

NEXT has other irons in the fire too; Etholm-Idsøe also highlighted NEXT’s development of “the world’s first full size, low cost embedded module“, which offers a range of applications including “key fobs, remote controls or tokens,” in which traditional PIN and password interfaces are not available.

(Originally posted on FindBiometrics)