INTERIM REPORT FOR THE PERIOD JANUARY TO MARCH 2024

FIRST QUARTER  

  • Net sales totaled SEK 21.7 (19.2) million.
  • EBITDA totaled SEK 3.1 (–0.6) million.
  • The operating profit/loss for the quarter totaled SEK –2.8 (–6.9) million.
  • Earnings for the period totaled SEK –3.0 (–6.9) million.
  • Earnings per share totaled SEK –0.0 (–0.2).
  • Cash flow from operations totaled SEK –2.8 (–5.3) million.
  • Cash and cash equivalents totaled SEK 41.1 (34.4) million.
  • ARR (Annual Recurring Revenue) at the end of the period was SEK 18.3 (17.3) million.
     

SIGNIFICANT EVENTS DURING THE QUARTER  

  • Signed commercial agreement with Korean sensor manufacturer LaserSemicon (formerly CanvasBio)
  • Launched palm recognition – a new addition to the company’s product portfolio
  • Showcased the biometric security solutions of the future at the Confederation of Swedish Enterprise’s Företagardagarna 2024 event
  • Strengthened position in Benelux through local sales team
     

SIGNIFICANT EVENTS AFTER THE QUARTER  

  • Extended partnership with Flowscape Technology and signed new customer agreement
  • Demonstrated biometric recognition solutions at ISC West and Embedded World

 
 
PRESENTATION AND Q&A  
Precise Biometrics has published a video in connection with today’s interim report, which includes an interview with CEO Joakim Nydemark. The video is available on the Investor Relations page: https://precisebiometrics.com/investors/ 
 
The video is designed to complement the report and provide additional depth and better understanding on the stock market for the company’s business operations.
 
The company also invites you to a live Q&A with Joakim Nydemark that starts at 10:00 AM (CET) on May 14, 2024. 
 
To take part in the Q&A session, access it via the interactive video player on the Investor Relations page here:
https://precisebiometrics.com/investors/ 
 
Questions can be asked directly in the chat function in the interactive player or submitted in advance to investor@precisebiometrics.com.
 
The video is in Swedish with English subtitles and the Q&A will be held in English. 
 
 
JOAKIM NYDEMARK, CEO, COMMENTS:  
“I am pleased that the positive trend from Q4 continued during Q1, with an increase in net sales to SEK 21.7 (19.2) million and a noticeable improvement in the operating profit before depreciation (EBITDA) to SEK 3.1 (–0.6) million. Had it not been for two slightly delayed customer payments totaling SEK 11 million (the payments were registered at the beginning of April), cash flow for the quarter would also have been strong. With net sales moving in the right direction and a positive profit before depreciation, I have an optimistic view of the future.  
 
In addition to a strong focus on customers and intensive marketing within our two business areas, we have continued to work on streamlining our processes in order to further accelerate our progress towards profitable growth. Precise Biometrics has consolidated its world-leading position in biometrics with several new partner agreements and collaborations and is in a stronger position than ever. We now have a well-positioned, diversified product portfolio focused on products including ultrasound sensors, which have both higher growth and better margins than other types of sensors, which bodes well for the future.”  
 

Contacts

Joakim Nydemark, CEO
E-mail: joakim.nydemark@precisebiometrics.com

About Us

Precise Biometrics AB (publ) (“Precise”) is a global pioneer in biometric technology. The company offers products in various areas of application that enable users – using their own biometrics – to authenticate or identify themselves in a convenient and secure way. Precise has two business areas; Digital Identity and Biometric Technologies, and operates out of its offices in Lund (HQ) and Stockholm, Sweden, Potsdam NY, USA, Seoul, South Korea, Taipei, Taiwan, and Shanghai, China. The Precise share is listed at Nasdaq Stockholm (PREC). For more information, please visit www.precisebiometrics.com

This information is information that Precise Biometrics is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-05-14 08:00 CEST.

Attachments

Precise Q1 2024 ENG

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