This week, Precise Biometrics announced its Q3 2014 results, marking the period highlights and going on record with its financial statistics.
The third quarter had Precise reporting nets sales figures worth SEK 7.3 million, operating results of SEK -14.1 million. The net result for Q3 was SEK -14.0 million and Precise reports having SEK 68.5 million in available cash as on the end of the period.
As reported previously by our sister site Mobile ID World, Precise Biometrics intends to reach profitability in 2015. In August, the company announced restructuring and an increased focus on the Asian mobile market, a move that at the time had Precise estimating an SEK 15-17 million per year decrease in operating expenses
In addition to reporting on the company’s fiscal results, Precise listed some of the third quarter highlights including staffing changes and major product launches.
Perhaps most significantly, considering the current influx of biometric sensors on smartphones, the Precise BioMatch Mobile fingerprint algorithm was built into the new Ascend Mate 7 smartphone from Huawei, which launched in September. The Ascend Mate 7 features an FPC1020 fingerprint sensor from Fingerprint Cards AB, and thanks to a previous licensing agreement, that means Precise’s algorithm is right there on the phone too.
The company also has begun development of its Tactivo peripheral for the iPhone 6.
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October 22, 2014 – by Peter B. Counter
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