NEXT Biometrics reports Q1 margin boost
15 May 2018 16:35 GMT

Norway's Next Biometrics has reported results from the first quarter with highlights including positive gross margins of 19 percent. This is the first quarter of positive gross margins in the company’s history. 

Next Biometrics recorded revenue of NOK 23.3 million ($2.8m) vs NOK 24.7 million in Q4-17. It had Positive gross margin of 19%, up from negative 4% in Q4-17
In the quarter, it also raised NOK 120 million in gross proceeds to fund growth and passed 4 million sensors shipped.

In addition it conducted successful testing of new contactless smart card solution and began shipping first samples of contact-based smart card module to customers.

NEXT CEO Ritu Favre commented: “We continue to develop a range of products featuring our proprietary, large and cost-efficient flexible fingerprint sensors with a focus on driving profitable growth within our targeted markets of smart cards, government IDs, access control and notebooks. Achieving 19% gross margin in the first quarter is a confirmation of our progress. In addition, the progress our technical teams are making in contactless smart card solutions and our sampling of contact-based smart cards with customers, show that NEXT’s fingerprint sensor technology is gaining traction in our most important market.”