Precise Biometrics Focused on Long-Term Growth in Q4/2018 Update

“Precise Biometrics’ shift to multimodal biometrics, announced last autumn, has been dubbed “YOUNiQ” and will combine face, fingerprint, iris, and voice biometrics together with location data for user authentication…”

Precise Biometrics is keeping focused on the future in its latest corporate update.

Reporting its fiscal results for the fourth quarter of 2018, the biometric algorithm software specialist says it saw net sales of SEK 13.9 million, down slightly from its sales of about SEK 14.2 million in Q4 of 2017; and it saw an operating loss of about SEK 14.3 million for the latest quarter, compared to an operating loss of about SEK 5.3 million in Q4 of 2017.

Looking to the full year, Precise Biometrics saw an operating loss of about SEK 19.96 million, compared to an operating loss of SEK SEK 13.9 million a year ago. Yet net sales were way up, going from a little over SEK 61 million in 2017 to SEK 67.6 million last year.

Commenting on the results in a statement, CEO Stefan K. Persson acknowledged the ongoing “high volatility in the mobile market”, but emphasized the company’s efforts to expand into new areas. Precise Biometrics’ shift to multimodal biometrics, announced last autumn, has been dubbed “YOUNiQ” and will combine face, fingerprint, iris, and voice biometrics together with location data for user authentication; and it will be trialed with partners in the first half of this year, with a commercial launch planned for the second half.

Biometric payment and smart cards are also an emerging opportunity for Precise Biometrics, with Persson anticipating “modest initial volumes” in the second half of this year, and increased volumes in 2020 and 2021.

Meanwhile, the mobile sector will continue to be Precise Biometrics primary revenue driver this year, with in-display fingerprint scanning that spans a device’s entire screen expected to be launched in H2. That will be an exciting development, but the ongoing volatility in the mobile market could make 2019 “a challenging year from a financial perspective,” Persson said. Nevertheless, Precise Biometrics is proceeding from “a secure financial position,” and improved financial results are anticipated from its more long-term initiatives.

–

February 13, 2019 – by Alex Perala

Related News

Partners

FaceTec’s patented, industry-leading 3D Face Verification and Reverification software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ finally make trusted, remote identity verification possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for 3D Liveness and Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

AuthenticID provides 100% automated identity verification and fraud detection solutions that are leveraged by companies worldwide, including 2 of the top 3 U.S. Banks, 8 out the top 10 wireless providers in North America, and 2 of the 3 credit bureaus. Using proprietary computer vision and machine learning technology, these solutions help companies accurately verify the identity of their users across retail, digital and call center environments for onboarding and ongoing re-authentication events; KYC, IAM, and more. The solutions are easy to integrate and provide customers a large ROI by stopping fraud losses, increasing customer conversion at onboarding, reducing operational costs and allowing quick and cost-effective operational scalability, all while ensuring global privacy regulations are complied with. https://www.authenticid.com/

Anonybit is a privacy-focused technology platform that provides decentralized solutions for securing personal data, particularly biometric information. Rather than storing sensitive data in centralized repositories, which are vulnerable to breaches, Anonybit uses a distributed architecture that breaks data into smaller encrypted bits and stores them across a network of decentralized nodes. This approach ensures that no single entity has access to the full dataset, enhancing privacy and security, even preventing insider threats. Anonybit is used by leading banks, fintechs and other enterprises for critical biometric identity functions like deduplication and blocklist checks, step up authentication, passwordless login and account recovery https://anonybit.io/

Identity Week aims to be a significant identity industry catalyst. It’s our mission is to help accelerate the move towards a world where trusted identity solutions enable governments and commercial organisations to provide citizens, employees, customers and consumers with a multitude of opportunities to transact in a seamless, yet secure manner. All the while preventing the efforts of those intent on doing harm. https://identityweek.net/

The Biometric Digital Identity Prism is a market landscape framework designed to help influencers and decision makers understand, innovate, and implement digital identity technologies and solutions. This innovative framework for understanding and evaluating the rapidly evolving biometric digital identity marketplace is the only market model that is truly biometric-centric based on the foundational conviction that in the age of digital transformation the only true, reliable link between humans and their digital data is biometrics. https://www.the-prism-project.com

ID R&D is an innovator of biometric facial liveness, document liveness, and voice biometrics. Ranked #1 by NIST, our patented passive approach to liveness, and specialized detection of voice clones, injection attacks and deepfakes, empowers KYC and authentication systems with fast, accurate and secure biometric verification technologies. Over 140 partners in more than 70 countries are collectively processing hundreds of millions of identity checks per year. ID R&D solutions easily integrate with mobile, web, messaging, smart speakers, set-top boxes, and IoT devices. Learn more: www.idrnd.ai

“Precise Biometrics’ shift to multimodal biometrics, announced last autumn, has been dubbed “YOUNiQ” and will combine face, fingerprint, iris, and voice biometrics together with location data for user authentication…”

Related News

Footer

Follow Us