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IDEX Biometrics (IDXAD)
OTHER OTC:IDXAD
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Earnings Data
Report Date
Feb 27, 2025Before Open Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
-$0.02Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 29, 2024
|% Change Since: -99.83%
|Next Earnings Date:Feb 27, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted significant strategic achievements such as securing key approvals from Visa and Mastercard, successful transactions in India, and financial restructuring efforts. However, the company's current financial performance remains weak with minimal revenue and substantial net losses. Despite these challenges, there is optimism about future growth prospects as new products are launched and market penetration increases.Company Guidance
During the Q3 2024 earnings call for IDEX.OL, CEO Catharina Eklof outlined several key metrics and achievements, signaling a strategic transformation and strengthening of the company’s financials. IDEX achieved a quarterly operating run-rate target of $2.5 million, bolstered by a NOK 70 million capital raise and a renegotiation of convertible debt terms, resulting in a $5.5 million gain. Despite limited revenues of $0.1 million and an adjusted net loss of $4.8 million, operating expenses were reduced by over $2.0 million from the previous quarter, with a total reduction of 22% over the last two quarters. Significant milestones included securing Visa approval for its biometric applets and a Mastercard approval for KONA I, South Korea's largest card manufacturer, to produce biometric metal cards. The company is also advancing in new markets, exemplified by the first live biometric transaction on India's RuPay scheme and a partnership with Vasmobile in Kenya to introduce biometric solutions. With strong demand expected, IDEX is positioning itself as a leader in the biometric card market, focusing on high-growth regions like Asia and the U.S., while emphasizing the importance of multifactor authentication and security solutions.Visa and Mastercard Approvals
IDEX received Visa approval for its biometric applets and KONA I, a South Korean card manufacturer, received Mastercard approval for metal cards with biometrics.
Live Biometric Transaction in India
IDEX completed the first live biometric transaction on India's domestic payment scheme, RuPay, in partnership with an acquirer in India.
Significant Financial Restructuring
IDEX completed a NOK 70 million capital raise and restructured its convertible debt, reducing the interest rate to 0% per annum and extending the loan term.
Reduction in Operating Expenses
Operating expenses were reduced by over $2.0 million from last quarter, a 22% reduction over the last two quarters.
New Product Launches
The company launched Centric Card 360, a battery-less multifunctional biometric card, and partnered with Vasmobile in Kenya for biometric school ID and wallet solutions.
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IDXAD Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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IDXAD Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 29, 2024 | $0.12 | $0.12 | 0.00% |
| Nov 09, 2023 | $0.13 | $0.13 | 0.00% |
| Aug 10, 2023 | $0.72 | $0.22 | -69.44% |
| May 23, 2023 | $0.72 | $0.72 | 0.00% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does IDEX Biometrics (IDXAD) report earnings?
IDEX Biometrics (IDXAD) is schdueled to report earning on Feb 27, 2025, Before Open Not Confirmed.
What is IDEX Biometrics (IDXAD) earnings time?
IDEX Biometrics (IDXAD) earnings time is at Feb 27, 2025, Before Open Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is IDXAD EPS forecast?
Currently, no data Available
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