Next Biometrics generated revenue of 14.4 million Norwegian kroner (about $1.4 million) in the third quarter of its fiscal 2022 thanks to increased shipments of its FAP20 fingerprint sensors, a announced the company.
Adjusted EBITDA was negative NOK 0.8 million ($77,000) in the quarter and gross margin was 38%.
The company recorded three design contracts with new customers during the quarter and shipped an order of FAP20 sensors worth $0.6 million to a new distributor linked to an India-based company at the end of the trimester.
“Next suppliers increased their shipments to Next towards the end of the third quarter. As a result, our supply chain situation has improved,” says Peter Heuman, CEO of Next Biometrics. “Additionally, we are ready to increase shipping volumes as customers begin to commit to additional volumes. However, in the short term, some of our customers remain affected by global semiconductor shortages. We expect them to return with additional new orders once they also have enough components to craft their final products.
Heuman also says Next is updating its business model to better represent its fingerprint biometrics portfolio. Despite “near-term external headwinds,” he says the company is well positioned to generate increased revenue in the coming quarters.
Next also signed a distribution deal for China as it reported disappointing second-quarter revenue of NOK 11.7 million ($1.2 million) in August.
Emissions Updates by Fingerprint Cards, Precise Biometrics
Fingerprint Cards held a private meeting today to approve a rights issue plan announced by the company along with its third quarter results in October.
The rights issue consists of units consisting of Series A and B stock and warrants. Up to 375,000 A Units and more than 19.8 million B Units will be issued under of this plan. Each unit consists of five shares and one warrant.
The subscription price has been set at 15.1 Swedish kronor ($1.37), which equates to approximately SEK 3.02 per share. Fingerprint Cards therefore expects gross proceeds of SEK 305.2 million ($27.7 million) from the issue.
Precise Biometrics, meanwhile, is at 46,427,597 shares and votes after finalizing its issuance as announced in October raised the total to 6,831,203.
The company said at the time that it had completed its rights issue for 2,871,564 shares and a directed issue of another 3,959,639. Precise is said to have raised approximately 44 million Swedish kronor (about $3.9 million).
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