Precise Biometrics reports Q1 profits, Oberthur agreement
17 May 2016 12:18 GMT

Swedish fingerprint solutions expert Precise Biometrics has reported a swing into profit in the first quarter and the completion of a new agreement with identity security firm Oberthur Technologies.

While consolidated net sales increased to SEK 24.2 million from just 4.5 million in the same period last year, EBITDA increased to SEK 8.2 from a loss of 6.4 million.

Meanwhile, profit after tax increased to SEK 6.3 from a loss of 8.8 million.

In the first quarter, Precise BioMatch Mobile was integrated in over 25 smartphones and licensing agreements were signed with sensor manufacturers Chipone and MStar.

Meanwhile, a licensing agreement with Fingerprint Cards was expanded to include Precise BioMatch Embedded for smart cards.

“The broad base of customers who market solutions with different technologies and advantages makes us well positioned to capture a significant market share in a fast-growing market that faces stiffer competition between sensor manufacturers. We are also in discussions with several companies that provide additional sensor technologies”, said Håkan Persson, CEO

On the same day, Precise announced the integration of  Precise Biometrics’ leading fingerprint recognition solution, Precise BioMatch Embedded, in the PEARL solution by Oberthur Technologies.

PEARL is a multi-application embedded secure element (eSE) on the market for mobile, M2M and IoT devices.

The license agreement will generate royalty revenue based on sales of secure elements from OT that includes Precise BioMatch Embedded in the delivery. Royalty revenues are volume dependent and cannot be forecasted at this point. The agreement includes a limited initial fixed fee for the right to integrate and use Precise Biometrics’ software, which will be recognized starting from the first quarter 2016.

The rapid growth of mobile payments is increasing the demand for secure mobile authentication. Our industry leading capabilities in providing high performance fingerprint solutions for platforms with limited processing power and memory enables new use cases where convenient and secure authentication is needed. The cooperation with OT is a big step in taking such solutions to market and securing users digital identity”, said Håkan Persson, CEO of Precise Biometrics.

“While the use of biometric data today appears as the most efficient way to authenticate users, it also raises new security challenges. It is therefore critical to combine the most advanced technologies to protect users’ biometrics. The partnership with Precise Biometrics allows us to further increase security in mobile, M2M and IoT devices by integrating the industry´s leading fingerprint recognition software in our PEARL by OT offering.”, said Marc Bertin, CTO of OT.

 

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