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IDEX Biometrics ASA: First quarter 2025 report

1. IDEX Biometrics' new strategy announced on March 11, 2025. 2. New CEO Anders Storbråten leads operational improvements and debt renegotiation. 3. Secured $30M debt facility, targeting reduced OPEX by Q3 2025. 4. Received production orders worth $50,000 in Japan and 10,000 units for VISA cards. 5. Q1 2025 revenue of $0.1M, with a net loss of $4.1M.

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$4.8805/21 02:56 AM EDTEvent Start
$4.8805/22 09:23 AM EDTLatest Updated
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FAQ

Why Bullish?

The introduction of a new strategy and orders indicate potential future growth, although losses persist. Historical examples show companies emerging stronger from strategic shifts, enhancing investor confidence.

How important is it?

The article highlights significant corporate strategy shifts and operational goals that could impact IDBA's future stock performance.

Why Long Term?

The operational changes and market strategy may take time to realize benefits, similar to past technology company recoveries post-restructuring efforts.

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IDEX Biometrics ASA's first quarter 2025 report is attached to this notice. Recent highlights: On 11 March 2025 IDEX Biometrics announced a new strategy with a fundamental shift in how the company would take its unique technology and products to market New CEO appointed – Anders Storbråten Securing a new debt facility of NOK 30 million, converted to shares Heights convertible bond renegotiated and amended Range of operational improvement initiatives under way – target quarterly run rate OPEX from end Q3 2025 in the range of $1.5-1.7 million. Production order in Japan from the manufacturing partner Beautiful Card Corporation (BCC). The order has a value of approx. USD 50,000 Order received from DigAware to deliver biometric sensor solution for access cards with sensor systems from IDEX IDEX Biometrics receives IDEX Pay order for VISA biometric cards in the Middle East & Africa region of 10,000 units KONA I granted Mastercard Letter of Approval for IDEX Pay biometric cards Completed debt conversion, launching subsequent offering allowing investors to participate at the same terms as shareholders participating in the debt conversion Financial results Q1 2025: Revenues of $0.1 million in the quarter. Ordinary operating expenses amounting to $2.4 million. Net loss was $4.1 million. Cash balance per 31 March 2025 at $1.1 million IDEX Biometrics CEO Anders Storbråten will host a presentation at Arctic Securities at 12:00 CET today. The presentation will be published to the stock exchange. IDEX Biometrics’ reports and presentations are available on our website: www.idexbiometrics.com/investors For further information, please contact: Kristian Flaten, CFO, Tel: +47 95092322 E-mail: ir@idexbiometrics.com About IDEX Biometrics: IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As an industry-enabler we partner with leading card manufacturers and technology companies to bring our solutions to market. For more information, visit www.idexbiometrics.com About this notice: This notice was issued by Kristian Flaten, CFO, on 21 May 2025 at 08:52 CET on behalf of IDEX Biometrics ASA. This information is subject to the disclosure requirements pursuant to the Norwegian Securities Trading Act section 5-12. IDEX BIOMETRICS Q1 2025 REPORT

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