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% ...

The board of directors of IDEX Biometrics ASA has resolved to issue 13,207,430 incentive subscription rights to 56 employees and individual contractors in the IDEX Biometrics group. The grant was made under the company's 2024 incentive subscription rights plan as resolved at the annual general meeting on 16 May 2024. The exercise price of the subscription rights is NOK 1.45 per share. The SRs vest by 1/3 per year over three years. The SRs expire on 16 May 2029. Following the company's recent restructuring i ...

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 ...

AuthenTrend, based out of Taiwan, focuses on digital document and identity verification. With a global reach and a strong presence in Asia, AuthenTrend provides a new generation of fingerprint-enabled card type security keys – ATKey.Card NFC x Surface Pro 10. These biometric cards support both contact and contactless FIDO2 passwordless login and take the login experience to the next level – secure and seamless. AuthenTrend provides FIDO2-certified biometric access card solutions to consumers and enterprises ...

All other resolutions were passed as proposed by the board, with an update as regards dates in item 4 on the agenda, Subsequent offering. At agenda item 5 Issue of warrants, the extraordinary general meeting resolved to issue warrants to investors participating in the Private Placement (both Tranche 1 and Tranche 2) and the Subsequent Offering. The number of warrants which may be issued shall be one warrant for each share subscribed for and allocated in the Private Placement or the Subsequent Offering. The ...

Management remains committed to rewarding shareholders through dividend payouts and share buybacks. For instance, in the first quarter of 2024, it paid dividends of $48.5 million. Also, in 2023, it distributed dividends of $190.7 million and repurchased common stocks worth $24.2 million. It announced a hike of 7.8% in its quarterly dividend rate in May 2024. However, weakness in the Health & Science Technologies (HST) segment due to softness in the life sciences, analytical instrumentation, semiconductor an ...

IDEX Biometrics ASA will hold an extraordinary general meeting on Wednesday 19 June 2024 at 12.00 hours CET as an online meeting. There is no physical attendance option. Shareholders may attend online. by PC, smartphone or tablet. Marianne Bøe, Head of investor relations E-mail: marianne.boe@idexbiometrics.com Tel: +47 918 00186 About IDEX Biometrics IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and ...

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 l ...