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September 02, 2015 1:00 AM ET

Electronic Equipment, Instruments and Components

Company Overview of NEXT Biometrics Group ASA

Company Overview

Next Biometrics Group ASA, through its subsidiaries, engages in the research, development, manufacture, and commercialization of fingerprint technology and products. It offers fingerprint sensor modules for use in smartphones, tablets, notebooks, corporate access control, time and attendance, usb-sensors, smartcard readers, secure tokens, and physical access control systems. The company is headquartered in Oslo, Norway.

Filipstad Brygge 1

Oslo,  0250

Norway

35 Employees

Key Executives for NEXT Biometrics Group ASA

Chief Executive Officer
Total Annual Compensation: $2.0M
Chief Financial Officer
Total Annual Compensation: $1.2M
Chief Technology Officer
Total Annual Compensation: $1.6M
Vice President of Sales - America
Total Annual Compensation: $1.1M
Vice President of Sales for Europe, Middle-East & Africa
Total Annual Compensation: $314.4K
Compensation as of Fiscal Year 2014.

NEXT Biometrics Group ASA Key Developments

NEXT Biometrics Group ASA Announces Unaudited Consolidated Earnings Results of the Second Quarter and Six Months Ended June 30, 2015

NEXT Biometrics Group ASA announced unaudited consolidated earnings results of the second quarter and six months ended June 30, 2015. For the quarter, the company’s revenue was NOK 0.3 million against NOK 0.682 million a year ago. This represents shipments to the Tier 1 only plus some NREs [ph] from one of partners. Cash flow in the quarter. The company had beginning of quarter NOK 98.7 million, and now at NOK 76 million. That's a consume of NOK 22.8 million in the quarter, and that is much lower than previous quarters. The revenue in the second quarter of 2015 all consisted of operating revenue and was generated by shipment to 4.000 sensors. The reduced revenue level was due to introduction of the second generation sensors replacing the single module sold in 2014. Loss before tax, depreciations and amortization was NOK 23.574 million against NOK 17.116 million a year ago. Operating loss was NOK 23.828 million against NOK 17.136 million a year ago. Net loss for the period was NOK 24.527 million or NOK 2.17 per basic and diluted share against NOK 16.955 million or NOK 1.90 per basic and diluted share a year ago. Net cash flows used in operating activities was NOK 7.294 million against NOK 25.084 million a year ago. Purchase of tangible assets was NOK 15.510 million against NOK 0.286 million a year ago. LBITDA was NOK 23.574 million against NOK 21.936 million reported in the previous quarter. For the half year, the company’s revenue amounted to NOK 2.7 million compared to NOK 0.7 million in the first half of 2014. The revenue in to first half of 2015 was generated by shipment of 56.000 sensors compared to 17.000 sensors in the first half of 2014. Loss before tax, depreciations and amortization was NOK 45.510 million against NOK 31.882 million a year ago. Operating loss was NOK 45.999 million against NOK 31.922 million a year ago. Net loss for the period was NOK 44.102 million or NOK 3.90 per basic and diluted share against NOK 31.867 million or NOK 3.59 per basic and diluted share a year ago. Net cash flows used in operating activities was NOK 36.337 million against NOK 50.390 million a year ago. Purchase of tangible assets was NOK 16.950 million against NOK 0.520 million a year ago. LBITDA was NOK 45.510 million against NOK 31.882 million a year ago. The increased loss for the corresponding half year was mainly due to higher level of cost of goods sold increased R&D costs and higher sales activity NEXT operated at a loss and did not incur deferred or payable income taxes in the first half of 2015 or in 2014.

NEXT Biometrics Introduces Ultra-thin Fingerprint Sensors for Design-Focused Smartphone, Tablet & Notebook Markets

NEXT Biometrics Group ASA introduced ultra-thin fingerprint sensor designs that remove the need for large bezels, or metallic frames, used in the first generation of NEXT sensors, making them tailored for the design focused smartphone, tablet and notebook markets. The new ultra-thin fingerprint sensor design breakthrough comes with several important advantages. It allows ultra-thin NEXT fingerprint sensors to be built into smartphones, tablets and notebooks using highly attractive and competitive industrial designs. Removing the bezel enables industrial designers at NEXT customer companies to determine the size and shape of sensors simply by the designs of the opening in the smartphone back covers or notebook palm rests. The company added that the new sensor designs further enhance the NEXT esd robustness (electrostatic discharges) to levels compliant with the most rigorous esd standards, meeting the requirements of all the mass markets relevant for fingerprint sensors. NEXT noted that the removal of the bezel from its fingerprint sensors also reduces the NEXT sensor cost of materials.

NEXT Biometrics Group ASA, Q2 2015 Earnings Call, Aug 25, 2015

NEXT Biometrics Group ASA, Q2 2015 Earnings Call, Aug 25, 2015

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