IDEX Biometrics interim report for the fourth quarter and preliminary result for 2024

Core Insights - IDEX Biometrics ASA has released its interim report for Q4 2024, highlighting key developments and financial results [1][2]. Financial Performance - The company reported no product revenues in Q4 2024 [4]. - Operating expenses, excluding cost of products sold and bad debt provisions, were $2.4 million, which is below the target of $2.5 million [4]. - The net loss for Q4 2024 was $2.1 million, which included a net financial gain of $2.4 million from the value change of warrants and derivatives related to convertible debt. Adjusted for these items, the net loss would have been $4.6 million [4]. - A non-cash impairment of goodwill amounting to $968 thousand was recorded in Q4 [4]. - The cash balance as of December 31, 2024, was $2.0 million [4]. Business Developments - The IDEX PAY platform has been certified, allowing manufacturers to launch biometric payment card programs with Visa and Mastercard globally [4]. - IDEX Biometrics' partner KONA I became the first manufacturer certified by Mastercard for both PVC and metal biometric cards [4]. - An order was received from DigAware for a biometric sensor solution to enhance their smart badges, which will incorporate RFID radios for emergency situations [4]. - The first commercial launch in Japan is planned with Life Card, targeting the first half of 2025 [4]. - The company streamlined global operations and progressed on cost efficiencies, aligning resources with key market priorities [4].