The report and an updated company presentation are enclosed in pdf files.
Fourth Quarter and Preliminary Full Year Financial Results
o Fourth quarter 2020 revenue was
o Full year 2020 revenue was
o Fourth quarter and full year gross margins(*) were 70% and 75%, respectively
o 2020 Adjusted Operating Expenses(**) were
o Net loss narrowed to
o Ended the year with
o IDEX was approved to list on the Nasdaq and expects to begin trading on
Commercial and Market Updates
o After securing an initial order in the third quarter, IDEX received an additional production order for TrustedBio™ sensors from a tier 1 card manufacturer in late 2020 that will be incorporated in a card available to financial institutions early 2021
o Achieved an additional
o IDEX’s sensor was featured by our partner, CTD, in the first trial of a fingerprint card for a digital RMB hardware wallet in a trial by
o Continued to expand its strategic partnerships and added a third global payment network to deliver its fingerprint sensors and related biometric solutions
o Received advanced volume production orders of TrustedBio sensors from multiple tier 1 card manufacturers to secure allocation of future supply
o Expanded its direct customer engagements with tier 1 innovation leaders, representing over 40% share of the global payment card market
o Continued to ramp production shipments to a large IT and financial services customer for an information security access control solution
He added: “Entering the new year, the Postal Savings Bank of China announced the first trial of a fingerprint biometric card hardware-wallet as part of China’s digital renminbi (RMB) initiative. This initiative represents a new high-volume application for fingerprint biometrics. We expect 2021 will see broader use of our technology for these new digital currency applications globally, and increasing orders and shipments to a broader range of traditional customers, banks and credit issuers.”
Notes:
* Gross Margin is Total Revenue less Purchases, net of inventory change
** Adjusted Operating Expense is Total Operating Expenses less stock compensation expense, amortization and depreciation expense, and expense related to the Nasdaq listing
For further information contact:
E-mail: marianne.boe@idexbiometrics.com
Tel: + 47 9180 0186
Derek D’Antilio, Chief Financial Officer
E-mail: derek.dantilio@idexbiometrics.com
Tel: +1 978 273 1344
About
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
Attachments
- IDEX Q4 2020 report pub
- QuarterlyPresentation_Q42020_pub
© OMX, source