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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Ideanomics Inc | NASDAQ:IDEX | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.035 | 3.95% | 0.92 | 0.76 | 0.95 | 0.9173 | 0.870271 | 0.9021 | 120,315 | 05:00:10 |
Oslo, Norway – 12 May 2021 - IDEX Biometrics ASA, a leading provider of advanced fingerprint identification and authentication solutions for payment cards and adjacent applications, today released its financial results for the first quarter ended March 31, 2021. The first quarter report is enclosed in pdf file. This document and other materials are also available on the Company’s website: www.idexbiometrics.com.
First Quarter ResultsIDEX recorded consolidated revenue of $624,000 for the first quarter of 2021, an increase of approximately 4% from the fourth quarter of 2020 and over 500% from the first quarter of 2020. Revenue recorded in the current period was primarily related to continued shipments to an important early-adopter implementing a global network access control solution based on our second-generation sensor product, but included initial volume shipments of the Company’s third generation TrustedBioTM products for payment card applications.
Total operating expenses for the first quarter of 2021 were $8.1 million, compared to $7.8 million for the fourth quarter of 2020 and $6.4 million for the first quarter of 2020.
The Company recorded a net loss of ($7.5 million) for the first quarter of 2021, compared to a net loss of ($7.2 million) for the fourth quarter of 2020 and net loss of ($6.3 million) for the first quarter of 2020. Loss per weighted average basic share was ($0.01) for each of the first quarter of 2021, the fourth quarter of 2020, and the first quarter of 2020.
Cash flow from operations was ($6.9 million) for the first quarter of 2021, ($6.3 million) for the fourth quarter of 2020, and ($5.2 million) for the first quarter of 2020.
At March 31, 2021, the Company had a cash balance of $25.9 million, compared to $7.3 million at December 31, 2020.
First Quarter Highlights
Commenting on first quarter performance, Vince Graziani, Chief Executive Officer of IDEX, stated, “Commercial interest in card-based biometric authentication is growing globally at an accelerating pace, and an ecosystem up and down the supply chain is developing. With opportunities in payment cards, access control, and, potentially, digital currencies, I believe IDEX has a promising future. As the COVID-19 pandemic abates, we anticipate a resumption of bank trials on a large scale, followed by increasing production orders for our TrustedBio solutions, which offer superior performance at market-leading price points.”
For further information contact:Marianne Bøe, Investor RelationsE-mail: marianne.boe@idexbiometrics.comTel: + 47 9180 0186
About IDEX BiometricsIDEX Biometrics ASA (OSE: IDEX and NASDAQ: IDAF) is a leading provider of a leading provider of advanced fingerprint identification and authentication solutions for payment cards and adjacent applications, 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
Trademark Statement
The wordmark ‘IDEX’, the trade name TrustedBio, and the IDEX logo are registered trademarks of IDEX Biometrics ASA. All other brands or product names are the property of their respective holders.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
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