Highlights
- After the end of the quarter, the Board decided to commission
Carnegie Investment Bank to evaluate the conditions for supplementing Fingerprints’ financing with debt capital in order to further accelerate the company's growth. - Sales increase in constant currency terms of 25 percent. Gross margin improved by 10 percentage points
Dell launched five models with our new biometric PC solution and Microsoft now allows all users to completely get rid of passwords in favor of biometrics.- For the fourth quarter of 2021, Fingerprints expects Group revenues to be in the range of
SEK 350-390 million , based on the exchange rate SEK/USD 8.60 .
Third quarter of 2021
- Revenues amounted to
SEK 354.3 M (294.0) - The gross margin was 28.6 percent (18.1)
- EBITDA totaled
SEK 32.3 M (8.7) - The operating result was
SEK 10.8 M (neg: 4.7) - Earnings per share before and after dilution amounted to
SEK 0.04 (neg: 0.01) - Cash flow from operating activities was a negative
SEK 45.5 M (pos: 67.7)
January-September 2021
- Revenues amounted to
SEK 999.2 M (886.3) - The gross margin was 28.4 percent (21.2)
- EBITDA totaled
SEK 58.9 M (26.9) - The operating result was negative
SEK 11.5 M (neg: 39.0) - Earnings per share before and after dilution were negative
SEK 0.02 (neg: 0.09) - Cash flow from operating activities amounted to
SEK 41.1 M (111.2)
CEO’s comments
It is gratifying that we increased our sales by 25 percent in constant currency terms compared with the corresponding period of the preceding year. At the same time, we improved our gross margin, compared with both the third quarter of 2020 and the preceding quarter. This was partly due to a more favorable product mix in Mobile, and partly because we are also growing in other areas: Access, PC and Payments.
Although we are still affected by the prevailing semiconductor shortage in the world, our access to production capacity continued to improve during the quarter, both among the large semiconductor manufacturers and the module suppliers that are responsible for the integration and packaging of various components into modules that are ready for assembly. We continue to work with our existing semiconductor suppliers to ensure as large volumes as possible from them, while at the same time, we are making a continuous effort to establish collaboration with new producers to increase our access to additional capacity on reasonable terms and conditions. We try, as far as possible, to increase the degree of standardization in our product design to enable a more flexible and cost-efficient production process. We have, as previously communicated, a very positive view of the continued development of the market for biometric solutions. The development of long-term, strategic collaborations at the highest level with key suppliers – both within and beyond Mainland China – is therefore a very high priority.
At the same time as demand for our products remains healthy in the mobile industry, our revenue streams are now being diversified at a higher pace than previously, into areas with attractive margins. Our activities within the Access area are developing favorably, while PC is now emerging as an important new area for Fingerprints. We anticipate favorable growth in the short and long term, partly due to considerably more computers being sold now compared with pre-pandemic volumes, but primarily because the share of computers with fingerprint sensors is expected to grow considerably from today’s relatively low levels. Our sales to the PC industry have all the prerequisites to outgrow the Access area in the next 12-18 months and thereby develop into the second largest application area for our products. In September, Microsoft announced that the company now permits users of the company’s products to entirely do away with their passwords in favor of biometric authentication and authentication apps. Corporate customers have already been able to use the service for a few months and it is now to become available to everyone. I welcome this development, which corresponds well with Fingerprints’ vision: A secure and seamless universe, where you are the key to everything. Fingerprints already has three of the world’s five largest PC manufacturers as customers. During the quarter,
The launches of biometric payment cards by
The interest in biometric payment cards is also increasing in other parts of the world. As previously communicated, in
We expect to see more banks launch biometric cards in the near future. Our technology is used in all commercial launches to date in the world and we conduct continuous development work to further enhance our offering in the payment area, not least within the framework of our strategic collaborations with central players in payment card manufacturing. On
On October 21 at 09:00 CEST, Fingerprints’ CEO
The report will be available at fingerprints.com
The webcast and the presentation material can be accessed through https://edge.media-server.com/mmc/p/xbb5vbpp
For analysts and media: The telephone conference dial-in is +44 (0) 2071 928000 (international participants) or 08-506 921 80 (Swedish participants). Please state conference ID 8383093.
For information, please contact: Per Sundqvist, CFO +46(0)10-172 00 10 investrel@fingerprints.com Press: +46(0)10-172 00 20 press@fingerprints.com This is the type of information that | |
About Fingerprints We believe in a secure and seamless universe, where you are the key to everything. Our solutions are found in hundreds of millions of devices and applications, and are used billions of times every day, providing safe and convenient identification and authentication with a human touch. For more information visit our website, read our blog, and follow us on Twitter. Fingerprints is listed on Nasdaq Stockholm (FING B). |
Attachment
- Interim report Q3 2021
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