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]

Core Points - IDEX Biometrics ASA has successfully completed a loan financing of NOK 30 million, which has been converted into 3,000,000,000 new shares at a subscription price of NOK 0.01 per share [1] - The company is offering up to 600,000,000 new shares at the same subscription price as the debt conversion, pending approval of a prospectus by the Financial Supervisory Authority of Norway [1][2] - The subscription period for the subsequent offering is set to begin on 22 May 2025 and will end on 5 June 2025 at 16:30 CET [3] Company Information - IDEX Biometrics ASA is a global leader in fingerprint biometrics, providing authentication solutions for payments, access control, and digital identity [5] - The company focuses on card-based applications for payments and digital authentication, partnering with leading card manufacturers and technology companies [5]

Group 1 - The Nomination Committee of IDEX Biometrics ASA proposes a new board of directors consisting of Morten Opstad, Annika Olsson, and Adriana Saitta, with Morten Opstad as Chair for a new term of two years [1] - IDEX Biometrics ASA is a global leader in fingerprint biometrics, providing authentication solutions for payments, access control, and digital identity [1] - The company's biometric solutions are built on patented technologies and target card-based applications for payments and digital authentication [1] Group 2 - IDEX Biometrics ASA partners with leading card manufacturers and technology companies to bring its biometric solutions to market [1] - The notice regarding the board proposal was issued by CFO Kristian Flaten on 20 May 2025 [2]

Core Points - The Company has announced an annual general meeting (AGM) scheduled for 21 May 2025 [1] - A Remuneration Report for executive management in 2024 has been prepared and is available for review [2] - The AGM will include an advisory vote on the Remuneration Report, with a proposed resolution for approval [3] Company Overview - IDEX Biometrics ASA is a global leader in fingerprint biometrics, providing authentication solutions for payments, access control, and digital identity [3] - The Company focuses on card-based applications for payments and digital authentication, utilizing patented sensor technologies and integrated circuit designs [3] - IDEX partners with leading card manufacturers and technology companies to bring its biometric solutions to market [3]

Core Points - IDEX Biometrics ASA announced the exercise of 36,767 Warrants B, leading to the issuance of 36,767 new shares at an exercise price of NOK 0.15 each [1] - Following the exercise, the company's total share capital will be NOK 38,316,309.99, divided into 3,831,630,999 shares with a nominal value of NOK 0.01 each [2] 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 sensor technologies and target card-based applications for payments and digital authentication [2] - IDEX partners with leading card manufacturers and technology companies to bring its biometric solutions to market [2]

Core Viewpoint - IDEX Biometrics ASA has successfully exercised Warrants B, leading to an increase in share capital and the issuance of new shares at a specified exercise price [2][3]. Group 1: Warrants and Share Capital - A total of 36,767 Warrants B were exercised, resulting in the subscription for 36,767 new shares at an exercise price of NOK 0.15 each [2]. - The Board of Directors has approved the allocation of new shares to the holders of Warrants B, leading to a resolution to increase the company's share capital [2]. - Following the exercise of Warrants B, the company's share capital will amount to NOK 38,316,309.99, divided into 3,831,630,999 shares, each with a nominal value of NOK 0.01 [3]. Group 2: Payment and Registration - Payment for the allocated new shares is due one week after the Board's resolution [3]. - The new shares will be issued upon registration of the share capital increase in the Norwegian Register of Business Enterprises [3]. Group 3: Company Overview - IDEX Biometrics ASA is a global leader in fingerprint biometrics, providing authentication solutions for payments, access control, and digital identity [4]. - The company's biometric solutions are built on patented technologies and target card-based applications for payments and digital authentication [4]. - IDEX partners with leading card manufacturers and technology companies to bring its solutions to market [4].

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $3.6 million, down from $4.4 million in Q1 2024, primarily due to lower software license sales [13] - Recurring revenue decreased to $2.7 million from $3.1 million year-over-year, attributed to the timing of subscription term license renewals [14] - Operating expenses were reduced to $5.5 million, down 5% from $5.7 million in the prior year [14] - GAAP net loss was $1.6 million or $0.08 per diluted share, compared to a net loss of $1.0 million or $0.05 per diluted share in Q1 2024 [14] - Adjusted EBITDA loss for the quarter was $1.5 million, compared to a loss of $1.0 million in the prior year [15] - Cash, cash equivalents, and marketable securities totaled $24.8 million as of March 31, 2025, down from $27.8 million at the end of 2024 [16] Business Line Data and Key Metrics Changes - The company is focusing on high-impact customers and sectors where biometric authentication is critical, leading to active conversations with several Fortune 500 companies [7][8] - The leadership team has been strengthened with the appointment of a new Chief Revenue Officer and a chairman with extensive experience in cybersecurity [9] Market Data and Key Metrics Changes - There is strong interest in biometric solutions across various sectors, including financial services, healthcare, and e-commerce, as enterprises recognize the inadequacy of traditional authentication methods [30] - The U.S. Federal government's commitment to biometric modernization remains strong, providing a significant market opportunity [20][37] Company Strategy and Development Direction - The company is undergoing a strategic transformation with a focus on durable, scalable growth and a streamlined go-to-market strategy [5][6] - Key strategic priorities include deepening partnerships, advancing core technology, and scaling the business sustainably [6][10] - The Awareness platform is being developed as an open, flexible architecture that allows customers to integrate best-in-class algorithms, differentiating the company from competitors [22][34] Management's Comments on Operating Environment and Future Outlook - Management views 2025 as a foundational year for the company, with expectations of building momentum heading into the second half of the year [12][25] - There is confidence in the strategic groundwork laid, which positions the company for leadership in the biometrics industry [25][39] Other Important Information - The company has revitalized its brand presence and increased visibility at key industry events [11][24] - A culture of transparency and accountability has been instilled within the organization to support the transformation [11] Q&A Session Summary Question: Will Aware continue to pursue growth in annual recurring revenues via sales of the Aware ID product? - The focus is on solving large-scale identity challenges for enterprises and government agencies rather than driving growth through a single product [28] Question: Has Aware made progress in adding customers or growing sales on the AWS Marketplace or any of the other partner programs? - The top priority is direct engagement with customers, and partnerships will be selective, focusing on those that add strategic value [29] Question: Could you provide more color on the types of industries or use cases these companies are exploring with Aware's biometric solutions? - Strong engagement is seen across industries such as financial services, healthcare, and e-commerce, where secure identity verification is critical [30] Question: How should we think about the timing and potential revenue contribution from some of the new strategic opportunities? - 2025 is viewed as a foundational year, with expectations for early wins later in the year and contributions building over time [32][33] Question: How does the open architecture approach differentiate Aware from competitors? - The Awareness platform offers an open modular architecture, allowing customers to choose algorithms and ensuring scalability and future-proofing [34] Question: Are there specific programs or initiatives where you feel particularly well positioned today? - The company is well positioned across the U.S. Government portfolio, focusing on secure digital identity and modernization initiatives [36][37] Question: What early indicators are you seeing that give you confidence Aware is on the right trajectory for scalable, sustainable growth? - Tangible progress is noted in pipeline expansion, leadership installation, and growing customer interest in Aware's technology [38]

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $3.6 million, down from $4.4 million in Q1 2024, primarily due to lower software license sales [14] - Recurring revenue decreased to $2.7 million from $3.1 million in the prior year, attributed to the timing of subscription term license renewals [15] - Operating expenses were reduced to $5.5 million, down 5% from $5.7 million in Q1 2024 [15] - GAAP net loss was $1.6 million or $0.08 per diluted share, compared to a net loss of $1 million or $0.05 per diluted share in Q1 2024 [15] - Adjusted EBITDA loss for the quarter was $1.5 million, compared to a loss of $1 million in the prior year [16] Business Line Data and Key Metrics Changes - The company is focusing on deepening strategic partnerships and has realigned its go-to-market model to prioritize high-impact customers and sectors [8] - Active conversations are ongoing with several Fortune 500 companies, indicating a shift in engagement and potential revenue opportunities [8][30] Market Data and Key Metrics Changes - There is strong interest in biometric solutions across various sectors, including financial services, healthcare, and e-commerce, as enterprises recognize the need for secure identity verification [30] - The U.S. Federal government's commitment to biometric modernization remains strong, providing a significant market opportunity [21][38] Company Strategy and Development Direction - The company is undergoing a strategic transformation with a focus on durable, scalable growth and a streamlined go-to-market strategy [6] - Key strategic priorities include deepening partnerships, advancing core technology, and scaling the business sustainably [7] - The Awareness platform is being developed to offer an open, flexible architecture that differentiates the company from competitors [35][36] Management's Comments on Operating Environment and Future Outlook - Management views 2025 as a foundational year for the company, with expectations of building momentum heading into the second half of the year [13][40] - The leadership team is confident in the strategic groundwork laid, which positions the company for leadership in the biometrics industry [26] Other Important Information - The company has strengthened its leadership team, appointing a new Chief Revenue Officer and a chairman with extensive experience in cybersecurity [9][10] - The brand has been revitalized, focusing on modernizing its presence and increasing visibility in key markets [12][25] Q&A Session Summary Question: Will Aware continue to pursue growth in annual recurring revenues via sales of the Aware ID product? - The focus is on solving large-scale identity challenges for enterprises and government agencies rather than driving growth through a single product [28] Question: Has Aware made progress in adding customers or growing sales on the AWS Marketplace? - The priority is direct engagement with customers, and partnerships will only be pursued if they add strategic value [29] Question: Can you provide more color on the types of industries or use cases these companies are exploring with Aware's biometric solutions? - Engagement is strong across industries like financial services, healthcare, and e-commerce, where secure identity verification is critical [30] Question: What is the timing and potential revenue contribution from new strategic opportunities in the second half of 2025? - 2025 is viewed as a foundational year, with expectations for early wins later in the year and contributions building over time [32][34] Question: How does the Awareness platform differentiate Aware from competitors? - The platform offers an open modular architecture, allowing customers to orchestrate best-in-class algorithms, providing flexibility and scalability [35][36] Question: Are there specific programs or initiatives where Aware feels particularly well positioned? - Aware is well positioned across the U.S. Government portfolio, focusing on secure digital identity and modernization initiatives [38] Question: What early indicators show Aware is on the right trajectory for growth? - The pipeline has expanded significantly, and there is growing interest from customers recognizing Aware's technology leadership [39]

Core Viewpoint - Aware, Inc. is navigating a transitional phase while focusing on long-term growth strategies, including strengthening leadership and enhancing its market approach [2][4]. Financial Results - Revenue for Q1 2025 was $3.6 million, down from $4.8 million in Q4 2024 and $4.4 million in Q1 2024, primarily due to lower software licenses revenue [6][10]. - The net loss for Q1 2025 was $1.6 million, or $(0.08) per diluted share, compared to a net loss of $1.2 million, or $(0.06) per diluted share in Q4 2024 and a net loss of $1.0 million, or $(0.05) per diluted share in Q1 2024 [7][10]. - Adjusted EBITDA loss for Q1 2025 was $1.5 million, compared to a loss of $0.8 million in Q4 2024 and a loss of $1.0 million in Q1 2024, attributed to lower total revenue [8][10]. Operational Highlights - The company is focusing on scaling its presence in the U.S. commercial market and expanding in the U.S. government sector [3]. - Aware is enhancing its biometric technology platform and integrating complementary solutions, with ongoing discussions with Fortune 500 companies [3][4]. - The leadership team has been strengthened with the appointment of Brian Krause as Chief Revenue Officer to accelerate commercial execution [10]. Balance Sheet - As of March 31, 2025, cash, cash equivalents, and marketable securities totaled $24.8 million, down from $27.8 million as of December 31, 2024 [9][10]. - Total assets were $39.9 million as of March 31, 2025, compared to $42.6 million as of December 31, 2024 [18][19]. Revenue Breakdown - Recurring revenue for Q1 2025 was $2.7 million, down from $3.1 million in Q1 2024 [10][24]. - Non-recurring revenue was $924,000 in Q1 2025, compared to $1.3 million in Q1 2024 [10][24].

Company Overview - IDEX Biometrics ASA is a global technology leader in fingerprint biometrics, providing authentication solutions for payments, access control, and digital identity [2][4] - The company's biometric solutions are built on patented sensor technologies, integrated circuit designs, and software, targeting card-based applications for payments and digital authentication [2] Annual General Meeting Details - The 2025 annual general meeting will be held on May 21, 2025, at 14:00 CET as an online meeting, with no physical attendance option [1] - Shareholders can attend the meeting online via PC, smartphone, or tablet, and the notice with attendance form has been sent to shareholders [1][2] Additional Information - The notice and ancillary documents for the annual general meeting are available on the company's website and can be requested at no charge [2] - The Nomination Committee's recommendations will also be published on the company's website [2] - For further inquiries, shareholders can contact Kristian Flaten, CFO, via phone or email [2][3]