NEXT Biometrics Group ASA ( (NXTBF) ) has released its Q3 earnings. Here is a breakdown of the information NEXT Biometrics Group ASA presented to its investors.
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NEXT Biometrics Group ASA, a technology company specializing in advanced fingerprint sensor technology, focuses on delivering high-security solutions for smart cards, government IDs, access control, and notebook markets. The company is headquartered in Oslo and operates in major global cities including Seattle, Taipei, Bengaluru, and Shanghai.
In its Q3 2024 earnings report, NEXT Biometrics revealed a significant revenue increase of 360% year-over-year, reaching NOK 27.6 million, driven by higher shipments of FAP20 and China-ID products. The company also improved its adjusted gross margin to 52%, attributed to a favorable product mix.
Key financial highlights for the quarter include a narrowed EBITDA loss of NOK -0.3 million compared to NOK -17.6 million in the same period last year, and a successful private placement in October raising NOK 40.2 million. The company secured several new design wins and contracts in key markets such as China, India, Bangladesh, and Pakistan, bolstering its strategic position.
NEXT’s management remains optimistic about future growth, anticipating continued revenue growth and a positive adjusted EBITDA in Q4 2024. With a strong pipeline and market opportunities, the company targets a revenue of NOK 180-200 million for 2025, maintaining a gross margin above 50%.
The company is keen on expanding its product offerings, including the development of FAP30 fingerprint sensors, positioning itself as a more attractive partner to international OEMs and setting new standards with its Active Thermal technology.
