NEXT Biometrics has issued its Q1 update, depicting a company with substantial momentum.
The company saw revenues of NOK 24.1 million for the quarter, down from NOK 31.8 million in Q4 of 2016 but way up compared to its revenues of NOK 5.2 million in Q1 of 2016. Its net loss came in at NOK -44.3 million, compared to a net loss of NOK -47.2 million in Q4 and NOK -49.5 million a year ago.
While those numbers depict a slight upswing over the past year in terms of financials, in a statement announcing the results the company focused on more recent developments, and what’s to come in the near future. Earlier this month NEXT Biometrics received a $150,000 fingerprint sensor order from a new client, and just this week the company announced two new clients, one of whom is said to be “a Japanese Tier 1 firm”.
Meanwhile, “[l]ow power reference designs with flexible sensors have been sampled to the smart card customer ecosystem with positive feedback,” said NEXT CEO Ritu Favre. She added that “NEXT’s flexible sensor development and capacity installation is on track for third quarter volume ramp,” while its “ASIC roadmap execution is progressing according to plan” and will ultimately produce results in the smart card market.
That all suggests the company’s upswing is going to continue in its next corporate update, and possibly many more.
(Originally posted on FindBiometrics)