“The figures obtained in 2022 endorse our business strategy, focused on offering a more flexible product that can be adapted to the needs of the constantly evolving global market in which we operate.” – Javier Mira, CEO, FacePhi
2022 was the best fiscal year in FacePhi‘s history, the biometrics specialist has revealed.
FacePhi brought in revenues of €22.2 million in 2022, an increase of 69 percent over 2021. The company also posted a positive EBITDA of €4.31 million, confirming an upward trend in the company’s profitability trajectory.
Much of the credit goes to FacePhi’s biometric identity platform, which revolves around the use of facial recognition for authentication, and has proven especially popular in the financial services sector. FacePhi noted that its customer base rose by about 100 clients in 2022, bringing the total over 250; and that includes more than 200 banks across 25 countries.
In announcing the strong fiscal results, FacePhi placed a special emphasis on the versatility and customizability of its identity platform, which offers an array of à la carte biometric solutions. “The figures obtained in 2022 endorse our business strategy, focused on offering a more flexible product that can be adapted to the needs of the constantly evolving global market in which we operate,” explained CEO Javier Mira.
On that note, the company has been working to expand into new markets in recent years, with 2022 marking its entry into the Dominican Republic and Nicaragua. The company also opened a new office in London, tasked with focusing on growth in the EMEA regions, in the spring of last year, shortly after announcing the launch of a LATAM subsidiary in March.
Mira also highlighted the strength of FacePhi’s talent, having seen the company’s workforce grow by 30 percent in 2022 to reach a headcount of 220. Those staffers will be critical in helping the company to continue to adapt in the evolving market of 2023.
“We have the right business structure to address the challenges that the market presents in the short term,” Mira asserted, adding that the company will be focused on expansion in the areas of cryptocurrency and gambling going forward.
(Originally posted on FindBiometrics)