Audited Results Confirm FacePhi’s Strong 2019 Growth

FacePhi has officially confirmed its considerable success in 2019, announcing that audited fiscal results show that its EBITDA grew by 140.37 percent over 2018.

Net revenues came in at 8.19 million euros, bringing the biometric authentication specialist’s net EBITDA result to 3.07 million euros, compared to 1.28 million euros in 2018. Net revenue, meanwhile, reflects a year-over-year increase of 83 percent.

Meanwhile, FacePhi’s share value increased 316 percent in 2019, FacePhi says.

The audited numbers roughly accord with initial results announced by the company in January, confirming that FacePhi’s strong upward trajectory continued through 2019. In a statement announcing the official results, FacePhi highlighted its success in attracting new clients during 2019, particularly in the LATAM region; it also noted that the investment of 4 million euros from the Swiss firm Nice & Green “will enable the company to strengthen its organic growth and accelerate the business growth in the Asian and Latin American markets.”

2020 might be different, of course, given the ongoing Covid-19 pandemic and its devastating financial effects. But in commenting on the issue, FacePhi CEO Javier Mira remained upbeat. “It is true that international economies are going to go through a rough patch, from which I believe they will be able to recover quickly,” he said. “However, for our contactless and secure identification technology products, new opportunities are opening up.”

FacePhi’s announcement of its audited growth results comes just a couple of weeks after the company proclaimed that it had won its second customer in Uruguay; it also announced a deployment of its technology at a South Korean hospital earlier this month.

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April 30, 2020 – by Alex Perala