IDEX Biometrics ASA: First quarter 2025 report

Core Insights - IDEX Biometrics ASA announced a new strategy aimed at fundamentally shifting how the company markets its unique technology and products [1] - The company appointed a new CEO, Anders Storbråten, to lead this strategic change [1] - IDEX secured a new debt facility of NOK 30 million, which has been converted to shares, and renegotiated its Heights convertible bond [1] Financial Performance - For Q1 2025, IDEX Biometrics reported revenues of $0.1 million [2] - The ordinary operating expenses for the quarter amounted to$2.4 million [3] - The net loss for the quarter was $4.1 million, with a cash balance of$1.1 million as of March 31, 2025 [3] Operational Developments - The company is implementing a range of operational improvement initiatives, targeting a quarterly run rate of operating expenses between $1.5 million and$1.7 million by the end of Q3 2025 [1] - IDEX received a production order valued at approximately $50,000 from Beautiful Card Corporation in Japan [2] - The company also secured an order from DigAware for biometric sensor solutions for access cards and received an order for 10,000 VISA biometric cards in the Middle East & Africa region [2]