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MarketScreener Homepage  >  Equities  >  Oslo Bors  >  IDEX Biometrics ASA    IDEX   NO0003070609

IDEX BIOMETRICS ASA

(IDEX)
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IDEX Biometrics : has received additional UK and US R&D tax relief

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05/28/2020 | 02:02am EDT

IDEX Biometrics has successfully claimed additional research and development tax relief in the United Kingdom and the United States mainly related to 2019 activities, and received cash refunds of USD 650 thousand. These refunds are in addition to USD 850 thousand received in March of 2020 from the UK related to 2017 and 2018 research and development activities.

UK small or medium-sized enterprise R&D tax relief allows companies to deduct up to 230% their qualifying costs from their yearly profit or claim a tax credit if the company is loss making, worth up to 14.5% of the eligible loss. The US allows a research and development tax credit to be applied against income taxes. Governmental R&D support is often processed through the tax system and amounts in excess of tax paid are reported as cost reductions under IFRS.

The company has significant research and development tax credit carryforwards in Norway, the United Kingdom and the United States that will be applied against taxable profits in future.

For further information contact:
Marianne Bøe, Investor Relations
E-mail: marianne.boe@idexbiometrics.com
Tel: + 47 918 00186

Derek D’Antilio, Chief financial Officer
E-mail: derek.dantilio@idexbiometrics.com
Tel: +1 197 827 31344

About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX and OTCQB: IDXAF) is a leading provider of fingerprint identification technologies offering simple, secure and personal authentication for all.  We help people make payments, prove their identity, gain access to information, unlock devices or gain admittance to buildings with the touch of a finger.  We invent, engineer, and commercialize these secure, yet incredibly user-friendly solutions.  Our total addressable market represents a fast growing multi-billion-unit opportunity.

For more information, visit www.idexbiometrics.com and follow on Twitter @IDEXBiometrics


This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

© OMX, source OMX

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Financials
Sales 2019 3,72 M 0,38 M 0,38 M
Net income 2019 -285 M -29,4 M -29,4 M
Net cash 2019 111 M 11,5 M 11,5 M
P/E ratio 2019 -2,67x
Yield 2019 -
Capitalization 1 333 M 137 M 137 M
EV / Sales 2018 438x
EV / Sales 2019 217x
Nbr of Employees 100
Free-Float 78,5%
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Managers
NameTitle
Vincent Graziani Chief Executive Officer
Morten Opstad Chairman
Paul Taylor VP-Operations & Program Management
Derek Pace D'Antilio Chief Financial Officer
Anthony Eaton Chief Technology Officer
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