Precise Biometrics has issued its fiscal report for the first quarter, reporting a significantly improved performance—its best since 2009, according to CEO Håkan Persson. Compared to Q1 of 2015, net sales increased by 438 percent, reaching SEK 24.2 million, or $2.94 million USD. The company earned a profit of SEK 6.3 million ($760,000) for the quarter.
In a statement announcing the results, the company highlighted its numerous smartphone integrations, new licensing agreements, and another repeat order from the US Department of Defense for its Tactivo readers. Speaking extensively in his own summary, Persson predicted further growth in the smartphone market, and asserted that while longtime sensor partner FPC is beginning to transition to its own proprietary fingerprint algorithm software, Precise Biometrics is well positioned with its growing array of other hardware partners. “We remain convinced that many of our present and future customers will claim a significant share of the growing market, thus ensuring our ability to grow with high profitability.”
Persson also highlighted the smart card market as “the next promising market for fingerprint sensors”—an area in which the company is actively collaborating with FPC—and pointed to the integration of Precise Biometrics software into the new FPC-BM fingerprint module as “a good example of a product that facilitates integration of fingerprint technology within new product areas” such as wearables and cars. With respect to such Internet of Things applications, Persson added, “In the longer term, we assess that this market can be larger than the market for mobile phones.”
Further complementing the positive outlook, today’s fiscal results were accompanied by the announcement of a new licensing agreement with Oberthur Technologies, which will integrate Precise BioMatch Embedded into its PEARL by OT embedded secure element (eSE) solution. The could see Precise Biometrics’ algorithm software brought into a range of devices in the areas of IoT, M2M, and mobile.
(Originally posted on FindBiometrics)