IDEX Biometrics ASA has completed a private placement of new shares in the company after market close 19 August 2024 by an accelerated book build. The private placement amounts to 16,166,667 shares at NOK 0.60 per share, raising NOK 9.7 million before expenses. The net proceeds from the private placement will be used to general corporate purposes. The payment date is 21 August 2024 and the shares are expected to be delivered on 23 August 2024. Following private placement, IDEX Biometrics ASA's share capital ...

Oslo, Norway – 19 August 2024 – IDEX Biometrics has appointed Catharina Eklof as the new Chief Executive Officer, effective as of today. Catharina Eklof has for the last three years served as Chief Commercial Officer for IDEX Biometrics, and has been instrumental in the transformation from a component provider to a full biometric solution company. Catharina brings global experience in business transformation and has been driving profitable growth initiatives and led commercialization of new technology solut ...

Oslo, Norway – 15 August 2024 - IDEX Biometrics ASA's interim report for the first half of 2024 is attached to this notice (link below). The interim report is also available on the IDEX Biometrics website: www.idexbiometrics.com/investors/interim-results/ A webcast presentation of the interim report will be held by Vince Graziani, Chief Executive Officer, today at 09:00 CET. The webcast presentation slide deck is also attached to this notice (link below). Link to webcast: https://idexbiometrics.videosync.fi ...

The board of directors of IDEX Biometrics ASA resolved on 14 August 2024 to issue 84,800 incentive subscription rights to a new individual contractor of IDEX Biometrics. The grant was made under the Company's 2024 Subscription rights plan. The exercise price of the subscription rights is NOK 1.37 per share, they vest by 25% per year, and will expire on 16 May 2029. Following the grant, there are 27,229,855 incentive subscription rights outstanding. For further information contact: Marianne Bøe, Head of Inve ...

Financial Data and Key Metrics Changes - Orders for Q2 2024 were $773 million, up 1% reported and 2% organically, with mid single-digit organic growth in FSDP and HST, partially offset by a mid single-digit decline in FMT [13] - Q2 sales were $807 million, down 5% reported and 4% organically, with an 11% decline in HST, while FMT and FSDP were essentially flat compared to the prior year [13] - Q2 adjusted gross margin was 45.4%, an expansion of 70 basis points, driven by strong price cost and operational productivity [14] - Adjusted EBITDA margin was 27.8%, down 60 basis points year-over-year, but up 180 basis points compared to Q1 [14] - Q2 net income was $141 million, generating an EPS of $1.86, while adjusted net income was $156 million with adjusted EPS of $2.06, down $0.12 [15] Business Line Data and Key Metrics Changes - FMT segment saw orders decrease 4% organically, driven by cyclical decline in the ag market and push out of industrial project activity, with organic sales flat [18] - HST segment had organic orders up 5% year-over-year, but organic sales down 11%, primarily due to life sciences and analytical instrumentation markets [19] - Fire & Safety/Diversified Products segment had organic orders up 6% and organic net sales up 1%, driven by price capture across all markets [20] Market Data and Key Metrics Changes - The semiconductor market is expected to see strong growth in 2025, but current orders have not yet materialized [6][19] - Life sciences and analytical instrumentation markets are anticipated to recover in 2025, with ongoing innovation efforts [6][19] Company Strategy and Development Direction - The company is focusing on disciplined capital deployment and strategic acquisitions, including the recent acquisition of Mott Corporation to enhance its capabilities [10][11] - The company aims to leverage strong technical and innovation capabilities to position for growth across technology-enabled markets [7][8] Management's Comments on Operating Environment and Future Outlook - Management noted increasing macro uncertainty and project pushouts due to political and economic factors, but remains optimistic about long-term recovery [5][29] - The company revised its full-year outlook, now expecting revenue to decline 1% to 2%, compared to previous guidance of growth [21][22] Other Important Information - The company divested Alfa Valvole for $45.5 million in cash during the quarter [12] - Free cash flow for the quarter was $118 million, a decrease of 2%, with a conversion rate of 75% of adjusted net income [15] Q&A Session Summary Question: Understanding the change in guidance - Management explained that project pushouts and delays in semiconductor orders contributed to the revised guidance, with ongoing discussions indicating potential future recovery [25][27] Question: Free cash flow conversion - Management expressed confidence in achieving over 100% free cash flow conversion for the year, focusing on inventory reduction [34] Question: Fire OEM demand - Management confirmed positive trends in Fire OEM demand, particularly in North America [36] Question: HST revenue improvement - Management indicated that deferred projects are expected to contribute to revenue improvement in the back half of the year [38] Question: Inventory destocking in analytical instruments - Management noted that while there are still pockets of inventory, overall destocking appears to be stabilizing [46][49] Question: Discretionary spending changes - Management confirmed steady growth investments, particularly in areas that enhance innovation and customer engagement [50][52] Question: Price capture and book-to-bill ratio - Management reported a price capture of approximately 2% for Q2 and a book-to-bill ratio of 0.96, indicating a focus on future revenue generation [54] Question: Inventory levels post-COVID - Management stated that inventory levels are returning to pre-COVID norms, with no significant drivers of demand erosion expected [57]

Idex (IEX) came out with quarterly earnings of $2.06 per share, beating the Zacks Consensus Estimate of $2.04 per share. This compares to earnings of $2.18 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 0.98%. A quarter ago, it was expected that this maker of the Jaws of Life device and other engineered products would post earnings of $1.75 per share when it actually produced earnings of $1.88, delivering a surprise of 7.43% ...

Core Points - IDEX Biometrics ASA's board has approved the issuance of 13,207,430 incentive subscription rights to 56 employees and contractors under the 2024 incentive subscription rights plan [1] - The exercise price for the subscription rights is set at NOK 1.45 per share, with vesting occurring at 1/3 per year over three years, and an expiration date of May 16, 2029 [1] - The company aims to retain and incentivize its employees following a recent restructuring [1] Insider Transactions - CEO Vince Graziani received 1,500,000 subscription rights at NOK 1.45 per share [2] - CTO Anthony Eaton was granted 3,000,000 subscription rights at NOK 1.45 per share [2] - CCO Catharina Eklof also received 3,000,000 subscription rights at NOK 1.45 per share [2] Outstanding Subscription Rights - After the recent grants, there are a total of 27,145,055 incentive subscription rights outstanding in IDEX Biometrics [4] Company Overview - IDEX Biometrics ASA is a global leader in fingerprint biometrics, providing authentication solutions for payments, access control, and digital identity [2] - The company's biometric solutions are built on patented technologies and target card-based applications for payments and digital authentication [2]

Nordroden/iStock via Getty Images I highlighted IDEX's (NYS)E:IEX) weak growth in Health & Science Technologies segment in my previous coverage published in February 2024. The company released its Q1 FY24 result on April 23rd and reaffirmed its full-year guidance. While I acknowledge that the Health & Science Technologies will continue to face challeneys in FY24, IDEX's order growth has already started to moderate. I reiterate 'Buy' rating with a fair price target of $220 per share. Order Moderation In Q1 F ...

Core Insights - AuthenTrend, based in Taiwan, specializes in digital document and identity verification, offering advanced fingerprint-enabled security keys [1] - The company has launched the ATKey.Card NFC, which supports both contact and contactless FIDO2 passwordless login, enhancing the user experience [1] - IDEX Biometrics has received a repeat order from AuthenTrend, indicating strong customer demand for biometric access cards [4][5] Company Overview - AuthenTrend was founded in 2016 and has established itself as a trusted partner in biometric authentication technology, recognized by various industry awards [8] - The company focuses on providing FIDO2-certified biometric access card solutions to both consumers and enterprises globally [1][8] - IDEX Biometrics is a global leader in fingerprint biometrics, offering solutions for payments, access control, and digital identity [7] Market Demand - The repeat order from AuthenTrend reflects the growing demand for secure authentication solutions, particularly in the EMEA region [4][6] - AuthenTrend's battery-less biometric ATKey.Card NFC has received positive feedback, indicating strong market traction and customer satisfaction [5][6] - The company is continuously enhancing its product features to meet the evolving needs of new markets embracing secure access solutions [5]

Core Points - IDEX Biometrics ASA held an extraordinary general meeting on June 19, 2024, with 97.2 million shares or 31.6% of the share capital represented [9] - The company resolved to issue 5,393,120 shares at NOK 1.65 per share in Tranche 2 of the private placement, increasing the share capital to NOK 47,018,983.20 divided into 313,459,888 shares [10] - The company plans to issue warrants to investors participating in the Private Placement and Subsequent Offering, with a maximum of 41,333,333 warrants to be issued at an exercise price of NOK 1.65 [2] Company Overview - IDEX Biometrics ASA is a global technology leader in fingerprint biometrics, providing authentication solutions for payments, access control, and digital identity [3] - The company's biometric solutions are built on patented sensor technologies and target card-based applications for payments and digital authentication [3] - IDEX partners with leading card manufacturers and technology companies to bring its biometric solutions to market [3] Subsequent Offering Details - The subscription period for the Subsequent Offering will commence on August 22, 2024, and end on September 5, 2024, unless extended by the Board [6] - If the prospectus related to the Subsequent Offering is not approved by the Norwegian Financial Surveillance Authority by August 21, 2024, the subscription period will start on the first trading day following the approval [6]