Financial gains for Thales, Aware, Mitek, FacePhi demonstrate sustained growth in biometrics

Thales, Aware, Zwipe and Mitek disclosed and summarized financial results or changes to their business in the first or second fiscal quarter of 2022, while Next Biometrics looked back on their past with the publication of its 2021 annual report with a financial summary and announced a purchase order from Televic. FacePhi, meanwhile, confirmed a best year-to-date revenue in 2021 thanks to its selfie biometrics and onboarding software.

Growth in Thales Digital Identity & Security sales and orders in the first quarter

Thales’s Digital Identity & Security division, which includes the multinational’s biometrics offerings, saw year-on-year growth of around 16%, with sales and order volume in the first quarter of 2022 being the one of the most successful segments of the company.

In terms of order intake, the Digital Identity division achieved 739 million euros (approximately $779 million) in orders, compared to 636 million euros (approximately $670 million) in the second quarter of 2021. In terms of sales , it largely followed the same pattern with 739 million euros compared to 636 million euros in the first quarter of 2021.

Overall order intake fell from €3.2 billion (approximately $3.4 billion) in the first quarter of 2021 to €3 billion (approximately $3.2 billion) in the first quarter of 2022, a decrease of 4%. The drop was due to a 27% decline in defense and security orders. Its sales volume, however, saw a 4.4% increase, with aerospace and digital identity and security maintaining Q1 2022 sales at 3.7 billion euros (about $3.9 billion). compared to 3.6 billion euros (about 3.8 billion dollars) in the first quarter of 2021.

Thales says sales and order intake were broadly in line with their expectations, as the first quarter of 2021 included four major contracts worth more than 100 million euros each (approximately $1.05 million) according to the company’s Chairman and Chief Executive Officer, Patrice Caine. He added that the strong momentum of its Space and Identity & Digital Security businesses offset the decline in Defense & Security revenue, due to a high comparison basis.

Caine said that despite supply chain strains and uncertainty over the resumption of air traffic, the company has met its financial targets for 2022.

Thales predicted a promising future after strong finances gave it the confidence to revise its forecasts and projections upwards.

Aware Reports Highest Quarterly Revenue Since 2018

Aware saw notable growth in subscription revenue for its biometrics-based security products, propelling the first quarter of 2022 to the highest quarterly revenue since 2018.

In a press release, Aware says revenue for the first quarter of 2022 was $4.7 million, an increase of 6% from $4.4 million in the first quarter of 2021 and an increase of 17% over compared to $4 million in the fourth quarter of 2021.

Aware attributes revenue growth to subscription revenue and maintenance revenue. The company saw its recurring revenue increase 30% year over year due to a 73% jump in subscription revenue over the same period in the first quarter of 2021 due to new partners and the continued expansion of existing partners.

“Our first quarter results demonstrate the additional progress we have made toward building a strong recurring revenue base as we continue our transition to a subscription-based SaaS platform company,” said Robert Eckel, CEO of ‘Aware.

Net losses in Q1 2022 totaled $1.3 million, compared to $1.4 million in Q4 2021 and $1.4 million in Q1 2021.

Eckel comments, “We continue to expand our reach into new geographies and end markets through our integrated reseller partnerships. As our financial results have demonstrated, our partnership strategy has facilitated greater adoption of Aware’s offerings through these partners’ well-established customer relationships and deep understanding of their customers’ needs.

Q1 2022 financial results continue its recent commercial success, with revenues up 49% in 2021, driven by its flagship Knomi facial biometrics solution.

Eckel says Aware is looking to strengthen its operational momentum in 2022 and focus on growing revenue at a rate above the biometrics market’s compound annual growth rate of around 15%.

Zwipe will invest in a growing number of employees

Zwipe says it will invest more in staff to meet growing demand for its biometric payment and access control solutions and services.

The company revealed the update in a preview of its first quarter of 2022 with its average monthly operating cash flow at negative NOK 8.3 million (around $9 million) versus a loss of NOK 6.3 million ( approximately $6.8 million) in the first quarter. of 2021. Zwipe has been approved by Visa and for pilot programs in the Middle East for its biometric payment cards and has been selected by Fraport AG for biometric access control.

The company also recorded a slight increase in revenue to NOK 600,000 (approx. $65,000) from NOK 300,000 (approx. $32,000) in the first quarter of 2021.

Its closing cash balance for the first quarter of 2022 ended at NOK 103.6 million (approximately $11 million) compared to NOK 108.9 million (approximately $11.8 million) the previous year.

“Overall, our long-term optimism was only reinforced with another strong quarter. We strongly believe that millions of consumers around the world will use Zwipe-enabled biometric payment and access cards in years to come,” CEO André Løvestam said in a statement.

Mitek Reports Record Second Quarter Revenue Driven by Digital Commerce

Mitek announces a record second fiscal quarter in 2022 following an increase in revenue driven by the transition of commerce to digital channels.

During the second fiscal quarter ending March 31, 2022, Mitek says revenue grew 21% year-over-year to $34.7 million. GAAP net income increased 88% year over year to $1.9 million, or $0.04 per diluted share. The company also says it had $93.4 million in total cash and investments at the end of the quarter. Cash flow from operations was valued at $7.4 million.

The company posted growth in 2021 and in its first fiscal quarter of 2022.

“Digital identity verification has become more than just an enabler of digital commerce, it’s become an integral part of most organizations’ technology stack,” said CEO Max Carnecchia. “We believe the next decade of fraud prevention will be defined by an organization’s approach to the lifecycle of identity and access management capabilities.”

Carnecchia also mentioned Mitek’s recent acquisition of biometric identity orchestration company HooYu, saying it will bring its capabilities “to more use cases and industries helping them increase customer acceptance. while reducing fraud and operational costs”.

Next Biometrics workforce down, signs access control contract

Next Biometrics experienced a decline in overall revenue in 2021, although it suffered less loss on EBITDA.

Revenue for 2021 was NOK 50.8 million (approximately $5.5 million) compared to NOK 58.1 million (approximately $6.3 million) in 2020. didn’t provide an exact reason, CEO Peter Heuman blames COVID-19 supply chain constraints that have impacted the ability for it to deliver biometric sensors to some customers in 2021.

Next Biometrics saw its cash flow improve in 2021, with a loss of NOK 47.7 million (approximately $5.1 million) compared to NOK 80.4 million (approximately $8.7 million) in 2020. The company says this change is due to reduced operating losses. The company saw the average number of employees fall from 40 in 2020 to 26 in 2021, combined with a decrease in other expenses and R&D investments.

The company’s EBITDA loss was NOK 51.2 million (approximately $5.6 million) in 2021, compared to a loss of NOK 83.3 million (approximately $9 million) in 2020. Once adjusted, the loss was NOK 32.0 million (approximately $3.5 million) in 2021, compared to a loss of NOK 77.5 million (approximately $8.3 million) in 2020.

Next Biometrics has also received a purchase order for a biometric access control device from the Belgian ICT supplier Televic. An announcement from Next Biometrics indicates that it is ready for release in specific European markets with an initial product launch in Belgium. Televic hopes to launch the product in other European countries in 2022, he adds.

FacePhi records the highest revenue in its history in 2021

FacePhi says fiscal year 2021 ended with its highest gross revenue yet, a sign of the success of its facial biometrics product and business strategy.

In a press release, FacePhi says its consolidated audited annual revenue for fiscal year 2021 ended at 13.16 million euros (approximately $15 million). It confirms an overview of its results for the 2021 financial year carried out in February which also reported an 81% growth in turnover compared to 2020.

The company also reports adjusted EBITDA of 1.88 million euros (approximately $1.9 million) from international expansion and its structure, which does not take into account the agreed compensation for the voluntary dismissal of a general manager. Its unadjusted EBITDA in February was €860,445.

FacePhi says its growth has been made possible with the doubling of its workforce in 2021 compared to 2020, with more than 175 employees today. With nearly 70% of them having a technical background, FacePhi believes it has created a multidisciplinary team capable of developing digital identity verification technology, strengthening its business team and building alliances to grow at scale. world. Earlier this year, FacePhi announced plans to move to South America with an office in Uruguay and recruiting for the EMEA region. Its software debuted in Chile, Nigeria and Vietnam last year.

And like its February preview, FacePhi says it’s gone from startup to scaling in 2021.

Article topics

Conscious | biometrics | digital identity | FacePhi | financial results | mitek | Next Biometrics | actions | Thales | Thales Digital Identity and Security | Zwipe

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