Core Insights - IDEX Biometrics ASA has published its annual report and remuneration report for 2024, along with its annual financial statements in European Single Electronic Format (ESEF) [1] - The company has disclosed a strategic shift to focus on the access market while continuing to leverage its efforts in the payment market, leading to adjustments in the 2024 financial statements [1] Financial Reporting - The preliminary financial statements for 2024 were disclosed on 27 February 2025 [1] - Adjustments to the 2024 statements of profit and loss and financial position were made, which were reflected in the interim balance sheet published on 21 March 2025 [1] Company Overview - IDEX Biometrics ASA is a global leader in fingerprint biometrics, providing authentication solutions across 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]

Core Business Performance - The company reported a 100% increase in revenue for Q1 2025 compared to the same quarter last year, driven by strong demand for biometric authentication solutions [5][7] - Revenue for Q1 2025 amounted to SEK 18.2 million, up from SEK 9.1 million in the previous year [7] - The gross margin for Q1 2025 was 56.6%, a decrease from 65.8% in the previous year, attributed to a higher proportion of software sales in 2024 [7][9] Strategic Changes - The company is exiting low-margin product segments to focus on high-value biometric and identity markets, classifying associated results as discontinued operations for better transparency [6][8] - A rights issue was successfully completed in February 2025, enhancing the company's financial position [7] Financial Metrics - EBITDA for Q1 2025 was SEK 10.7 million, compared to a negative SEK 55.7 million in the previous year [7] - The operating result was negative SEK 0.3 million, an improvement from negative SEK 67.3 million [7] - Cash flow from operating activities was negative SEK 36.4 million, including a negative SEK 22.0 million from discontinued operations [7] Growth Strategy - The company aims to accelerate revenue growth while maintaining high gross margins through strategic partnerships, product innovation, and IP monetization [11] - Key partnerships include a licensing agreement with Smart Eye for iris recognition technology, expanding opportunities in automotive [12] - The company is focusing on sectors requiring advanced authentication, such as enterprise security, and is investing in new revenue streams [11][12] Operational Efficiency - The company has streamlined operations, reducing headcount by 27% since year-end 2024 and 70% year-on-year, to enhance financial flexibility [10] - The strategic transformation includes modernization of operations, technology, and processes to improve agility and customer engagement [11]

Reference is made to the announcement by IDEX Biometrics ASA (the "Company") on 11 March 2025 regarding a loan financing of NOK 30 million and a proposed debt conversion of the loan. Reference is also made to the announcement on 11 April 2025 regarding the resolution by the Extraordinary General Meeting to carry out the debt conversion by issuance of a total of 3,000,000,000 new shares in the Company. The share capital increase by debt conversion has duly been registered in the Norwegian Register of Busines ...

Gothenburg, Sweden and Ahmedabad, Gujarat - April 28, 2025 – Fingerprint Cards AB (FPC), a global leader in biometric technology, is pleased to announce that Mantra Softech India Private Limited, India's leading biometrics and RFID technology company, has extended its licence for FPC's iris recognition software platform. This strategic move aims to further strengthen Mantra's position in the Indian market, but also support their expansion into emerging markets, integrating advanced iris recognition technolo ...

Core Viewpoint - IDEX Biometrics ASA has successfully completed a share capital reduction, which was resolved in an extraordinary general meeting, resulting in a new share capital of NOK 8,315,942.32 divided into 831,594,232 shares with a nominal value of NOK 0.01 each [1]. Company Overview - 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 sensor technologies, integrated circuit designs, and software, targeting card-based applications for payments and digital authentication [1]. - IDEX partners with leading card manufacturers and technology companies to bring its biometric solutions to market [1].

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS STOCK EXCHANGE ANNOUNCEMENT. Oslo, Norway – 31 March 2025 - Reference is made to the stock exchange announcements from IDEX Biometrics ASA (the "Compan ...

Reference is made to the announcement by IDEX Biometrics ASA on 18 March 2025 regarding the results of the exercise of Warrants A. A total of 17,258 Warrants A were exercised, resulting in an aggregate subscription for 17,258 new shares, each Warrant A having an exercise price of NOK 0.15. The share capital increase has been registered in the Norwegian Register of Business Enterprises. Following the issue, IDEX Biometrics ASA share capital is NOK 124,739,134.80, divided into 831,594,232 shares, each with a ...

IDEX Biometrics ASA will hold an extraordinary general meeting (“EGM”) on Friday 11 April 2025 at 12.00 CET as an online meeting.  Reference is made to the announcement by IDEX Biometrics ASA (the "Company") on 11 March 2025 regarding the loan financing of NOK 30 million secured, proposed debt conversion, and amendment of Convertible Bond. The EGM-notice and the interim statement of financial position are attached. Shareholders may attend online by PC, smartphone or tablet. There is no physical attendance o ...

Core Insights - IDEX Biometrics ASA has initiated a strategic review due to low revenues and a lack of revenue-generating agreements in Q4 2024, leading to a fundamental shift in its market approach [1] - The company has identified unique competitive advantages in its biometric Access technology, positioning itself to offer a comprehensive product line to customers and channel partners [2][3] - IDEX Access is expected to provide better monetization opportunities without heavy reliance on third-party market adoption, allowing the company to control the product, customer journey, and pricing [3] Business Strategy - The company will focus on launching the IDEX Multiuse Access Card, targeting both logical and physical access markets, with an anticipated launch in Q3 2025 [4] - While emphasizing the access market, IDEX will continue to maintain its presence in the payment market [4] Management Changes - The Board has decided to change management, appointing Anders Storbråten as the new CEO, who has extensive experience in technology companies and investment banking [5] - The restructuring will involve organizational and budgetary changes, including a reduction in the cost base and reallocation of resources to maximize return on investment [6] Organizational Focus - IDEX aims to align and energize the organization with clearly defined objectives and key results (OKRs) for each individual [7] - The company will enhance communication with shareholders, focusing on transparency and providing ongoing status reports on its commercial rollout [7]

Financial Data and Key Metrics Changes - Total revenue for Q4 2024 increased by 10% to $4.8 million compared to $4.4 million in Q4 2023, driven by higher software license revenue, including a $1 million one-time license sale to a European government [25] - Recurring revenue for Q4 was $3.3 million, down from $3.7 million in the prior year, primarily due to timing of revenue recognition [25] - For the full year, total revenue decreased to $17.4 million from $18.2 million, attributed to lower software license revenue [28] - Full year recurring revenue grew by 9% to $12 million, making up 69% of total revenue [29] - Operating expenses decreased by 14% to $22.9 million for the full year, down from $26.8 million in the prior year [29] - GAAP net loss for Q4 was $1.2 million, or $0.06 per diluted share, compared to a loss of $4.2 million, or $0.20 per diluted share in Q4 2023 [26] Business Line Data and Key Metrics Changes - The increase in total revenue for Q4 was largely driven by higher software license revenue, while recurring revenue showed a slight decline [25] - The full year saw a decline in total revenue due to fluctuations in license sales, despite growth in recurring revenue [28][57] Market Data and Key Metrics Changes - The company noted that the biometrics industry is experiencing increased investment and demand, particularly in the context of rising AI-driven fraud [13][47] - Aware's technology is recognized as critical for national security, with a strong emphasis on partnerships with government agencies [14][52] Company Strategy and Development Direction - The company aims to deepen strategic partnerships, advance technological innovation, and scale sustainably to drive revenue growth [18][20][21] - Aware is focused on refining its go-to-market strategy to improve efficiency and unlock new revenue opportunities, particularly in the biometrics sector [16][22] Management's Comments on Operating Environment and Future Outlook - Management acknowledged macroeconomic headwinds and government budget constraints but emphasized a commitment to improving operational efficiency and positioning for sustainable growth starting in 2026 [16][22] - The CEO expressed confidence in the company's technology and strategic vision, indicating that the best days are ahead for Aware [23][34] Other Important Information - The company has a strong balance sheet with cash, cash equivalents, and marketable securities totaling $27.8 million as of December 31, 2024 [32] - The CEO highlighted the importance of biometric solutions in enhancing efficiency for government services, which positions Aware well amid evolving challenges [53] Q&A Session Summary Question: What changes are being implemented to improve sales efficiency? - The company is taking a more focused approach to sales, prioritizing high-value customers and optimizing pricing models to enhance competitiveness [39][40] Question: Why is now a good time for Aware to initiate a more effective go-to-market strategy? - The CEO noted that the current market conditions favor biometrics, with increasing consumer acceptance and investment in biometric solutions [47] Question: What drove the reduction in operating expenses for the year? - The reduction was due to a disciplined approach to cost optimization, including streamlining operations and reducing discretionary spending [50] Question: Do you expect recent DOGE activity to impact the business? - The company is monitoring potential shifts in procurement patterns but remains confident in its longstanding relationships with U.S. federal agencies [52][54] Question: Can you walk through the revenue changes for Q4 and the full year? - The increase in Q4 revenue was driven by a one-time license contract, while the full year decline was due to fluctuations in license sales [56][57] Question: How did the recurring revenue growth trend? - Annual recurring revenue increased by 9% year-over-year, although it fell short of the initial double-digit growth guidance [59] Question: Are you looking to implement M&A as a potential component of your growth strategy? - The company remains focused on organic growth but will evaluate strategic acquisition opportunities that could enhance its technology roadmap [61] Question: How many shares do you own? - The CEO purchased just under 1% of the company, reflecting confidence in Aware's long-term potential [63]