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precise-q2-2025-eng-final
1
Interim Report
Q2
January June, 2025
Interim Report January June 2025 Precise Biometrics AB (publ), corp. ID no. 556545-6596
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Precise, a pioneer in biometrics and cybersecurity, whose technology is used
100,000
times/second, all year round
Precise Biometrics (Precise) is a global pioneer in the field of cybersecurity and biometric solutions. The offering includes premium algorithm solutions for fingerprint, facial and hand recognition, as well as packaged end-customer products for biometric access (Precise Access) and visitor management (Precise Visit by EastCoast). Key segments include mobile phones, laptops, automotive, payments, logical access, physical access, visitor managment, and government initiatives such as ABIS and ID programs. Precise operates through two main business areas, Digital Identity and Biometric Technologies, and runs the business from its offices in Lund (HQ), Stockholm, Potsdam NY, Seoul, Taipei and Shanghai. The Precise share is listed oInnterimNReapsodrtaJaqnuaryStJoucnek2h0o25lm (PREC). Find out more at www.precisebiometrics.com.
Precise Biometrics AB (publ), corp. ID no. 556545-6596
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Table of Contents
The period in brief: .......................................................................................................................................................................... 4 CEO comments:................................................................................................................................................................................. 6 Update from the business areas................................................................................................................................................. 8 New website for Precise ..............................................................................................................................................................10 Customer offering..........................................................................................................................................................................11 Net sales and operating profit/loss.........................................................................................................................................12 Consolidated income statement in summary ..................................................................................................................16 Consolidated balance sheet in summary...........................................................................................................................17 Consolidated cash flow statement in summary ..............................................................................................................18 Consolidated change in equity in summary.....................................................................................................................19 Notes ................................................................................................................................................................................................... 20 Parent company income statement in summary............................................................................................................23 Parent company balance sheet in summary ....................................................................................................................24 Consolidated key indicators.......................................................................................................................................................25 Alternative consolidated key indicators ................................................................................................................................26 Analysis of results, in summary.................................................................................................................................................27 Financial glossary .........................................................................................................................................................................28
Interim Report January June 2025 Precise Biometrics AB (publ), corp. ID no. 556545-6596
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The period in brief:
Continued strong demand and stable
performance despite geopolitical shifts
Second quarter
Net sales totaled SEK 20.8 (20.6) million
o A change in revenue allocation in a renegotiated customer agreement has a negative impact of SEK 1.0 million in the quarter, but results in higher revenue on an annual basis primarily in the fourth quarter
EBITDA totaled SEK -0.5 (0.1) million
o Adjusted for negative currency effects from operating items of SEK 0.9 million and a change in revenue allocation in a customer agreement of SEK 1.0 million, EBITDA amounts to SEK 1.4 million
Cash flow from operating activities totaled SEK 1.3 (3.9) million The operating profit/loss (EBIT) totaled SEK -5.7 (-5.7) million Earnings for the period totaled SEK -5.8 (-5.6) million Earnings per share before and after dilution totaled SEK -0.1 (-0.1) ARR (Annual Recurring Revenue) at the end of the period was SEK 18.2 (18.6) million
o There is a negative impact on ARR of approximately SEK 0.8 million due to the bankruptcy of an end customer
Interim period Jan Jun
Net sales totaled SEK 40.8 (42.3) million
o A change in revenue allocation in a renegotiated customer agreement results in higher revenue on an annual basis, but has a negative impact of SEK 2.0 million on net sales for the interim period
EBITDA totaled SEK -2.2 (3.2) million
o Adjusted for negative currency effects from operating items of SEK 2.4 million and a change in revenue allocation in a customer agreement of SEK 2.0 million, EBITDA amounts to SEK 2.2 million
Cash flow from operating activities totaled SEK 3.4 (1.0) million The operating profit/loss (EBIT) totaled SEK -12.8 (-8.5) million Earnings for the period totaled SEK -13.0 (-8.5) million Earnings per share before and after dilution totaled SEK -0.2 (-0.1) ARR (Annual Recurring Revenue) at the end of the period was SEK 18.2 (18.6) million
o There is a negative impact on ARR of approximately SEK 0.8 million due to the bankruptcy of an end customer
Significant events during the quarter
(the bullet list below contains links to the relevant press releases)
Precise continues to expand its visitor management system business. Precise launches rebranding initiative to unify and strengthen its offering.
Significant events after the end of the interim period
(the bullet list below contains links to the relevant press releases)
No significant events after the end of the quarter.
Interim Report January June 2025 Precise Biometrics AB (publ), corp. ID no. 556545-6596
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Financial data and key indicators
Amounts in SEK thousands unless otherw ise stated Net sales Net sales grow th, % EBITDA Gross margin, % Operating profit/loss Operating margin, % Cash f low f rom the operating activities Cash and cash equivalents Annual Recurring Revenue
2025 Apr-Jun
20 784 1,0% -547
73,5% -5 707 -27,5% 1 307 33 577 18 227
See the Financial Glossary for definitions.
2024 Apr-Jun
20 582 15,1%
89 71,4% -5 664 -27,5% 3 855 41 746 18 645
2025 Jan-Jun
40 791 -3,5% -2 236 72,7% -12 758 -31,3% 3 410 33 577 18 227
2024 Jan-Jun
42 266 14,1% 3 158 71,8% -8 490 -20,1% 1 024 41 746 18 645
2024 Full-ye ar
86 852 15,7% 13 379 72,6% -9 414 -10,8% 10 055 37 704 18 980
Rolling 12 m th 85 377
6,3% 7 985 73,1% -13 682 -16,0% 12 442
Presentation and live Q&A Aug 15, 13:00
Precise has published a video interview with CEO Joakim Nydemark in connection with this report. The interview is designed to complement the report and provide additional depth and a better understanding of the stock market for the company's business operations.
The video is available on the Investor Relations page: precisebiometrics.com/investors/
The company also invites you to a live Q&A session. More information and a registration link to the Q&A session may be found on the Investor Relations page: precisebiometrics.com/investors/
Time of Q&A: Friday, Aug 15, 2025, at 13:00 (CET). Questions can be asked directly during the Q&A or submitted in advance to investor@precisebiometrics.com.
Interim Report January June 2025 Precise Biometrics AB (publ), corp. ID no. 556545-6596
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CEO comments:
Continued strong demand and stable
performance despite geopolitical shifts
Our position remains strong with growing demand for our products. This quarter brought further progress in our commercialization journey, driven by active sales efforts with both customers and partners. However, we were also affected by the turbulent market environment and a weaker US dollar.
Net sales for the 2nd quarter totaled SEK 20.8 (20.6) million and EBITDA was SEK -0.5 (0.1) million.
Commercial progress was made in areas such as national ID programs, where we were approved for use in Aadhaar, India. This has resulted in us now launching customer projects in India, with the hope of commercialization early next year.
The market
We feel that demand for the company's products is increasing, even though the market situation is prolonging business discussions. With a number of new customer projects initiated during the quarter, we continue to have a positive outlook for the full year 2025.
We have seen clear indications that the transition in the mobile market to the more advanced ultrasonic sensors is continuing, and the volumes forecast for the years ahead define an upward trend. Interest in biometric security solutions is also growing, with changes in the global security landscape and the rapid development of AI. Biometrics combines userfriendliness and high security in a unique way that attracts users. It is also clear that cybersecurity is a high priority among both companies and government agencies globally, and Precise Biometrics is well positioned.
Biometric Technologies
During the period, we won several new projects, with the company's strong offering in the field of premium solutions satisfying a growing need. The mobile vertical continued to deliver stable volumes, and we see the market growing. Existing customer relationships, especially with Qualcomm, are developing positively and volumes are expected to increase in the years ahead. In the automotive industry, revenues are in line with forecasts, despite the automotive industry experiencing a generally fraught situation.
The growing market for national ID programs also presents good potential. We have signed new contracts here, and there is growing demand for anti-spoof technology.
The hand recognition (palm) initiative has taken important steps forward in terms of both technical development and market cultivation. Pilot projects are under way in the US, and our business partner HandID is preparing for mass production of its palm reader later this year. Furthermore, government agencies have started to specify strict requirements for the technology, further reinforcing its relevance.
Biometric data collection, a field in which we possess unique expertise, is becoming increasingly important for optimizing biometric solutions in terms of performance, security and time to market. End customers, especially mobile manufacturers, are also showing increased interest in this knowledge, and we see an opportunity to further grow the area.
Digital Identity
Sales of Precise Visit by EastCoast performed well during the quarter, resulting in an increased inflow of recurring revenue. A clearer packaging of the Visit product Go, Professional and Multi-tenant enables us to better adapt the price level to match customer value and customer needs. By doing this, we expect to reach a broader target group and accelerate the number of installations.
Furthermore, several new Access Management vendors in the US have started to show an interest in Precise, and new partnerships have been initiated. We hope to be able to say more about these later this year. New, improved integration and the palm modality have contributed to this interest, which shows the company's ability to easily adapt the solutions to different access management systems.
While we are seeing some positive signs, overall growth in the Digital Identity business area is still not at the level we want it to be. During the quarter, we were also adversely affected by the bankruptcy of one of our major Precise Access users, which has a negative impact on ARR of approximately SEK 0.8 million.
We have continued to invest in expanding our market presence and driving sales, including active customer
Interim Report January June 2025 Precise Biometrics AB (publ), corp. ID no. 556545-6596
engagement in new markets. Our framework agreements with major companies are also expected to support positive growth ahead.
Market cultivation
Market cultivation continues apace, and our new website was also launched during the quarter. A clearer description of our offerings and a strong focus on the people who use our solutions allow us to create a stronger profile. One element of this change is also to create the conditions for scaling the business within Digital Identity through digital marketing and sales.
LTI Program
In connection with the Annual General Meeting, we launched a long-term incentive plan for the company's employees. Employees have purchased the stock options at market value, and this will also be offered to future employees. As of June 30, 2025, approximately 450,000 stock options had been subscribed by employees in the company. The plan has been well received and everyone in the group executive team chose to participate, which helps to enhance the sense of long-term engagement in the company.
7
Future prospects
A great deal is happening within biometrics, cybersecurity, seamless physical access and AI. These areas are the cornerstones of our business, where we are well positioned to continue to deliver market-leading visitor systems, security solutions and biometric products with a unique combination featuring high levels of both security and userfriendliness. We also remain cost-conscious, and by renegotiating supplier agreements and achieving efficiency improvements during the first half of the year, we have been able to strengthen our sales capabilities and productivity with only a relatively small increase in costs. This will yield results in 2025.
Within our set commercialization strategy, we continue to launch new offerings, including national ID programs, palm recognition and on-premise access systems. Looking ahead to the coming year, there are strong indications for solid growth. In a society where security and user experience are becoming increasingly central, our solutions help create greater peace of mind.
Joakim Nydemark CEO
My top three:
Unique position and strong offering
Increasing new sales of Precise Visit
Scalable business with growing volumes
Interim Report January June 2025 Precise Biometrics AB (publ), corp. ID no. 556545-6596
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Update from the business areas
Digital Identity
The period has been characterized by active market cultivation and numerous customer meetings. The company has seen a positive development in the business, but has also seen business discussions taking longer than normal. While Precise is benefiting in part from the security situation and concerns about cyberattacks, for example, these factors also prolong certain business discussions.
New sales, primarily of Precise Visit by EastCoast, have performed well and the company has seen a good inflow of new recurring revenue, and a number of new customers and framework agreements have been signed. The positive trend of customers migrating to the Visit cloud solution is also continuing.
Another positive change is the high level of interest from new Access Management vendors in the US in Precise Access and biometric access. Several new partnerships have been established, with one important parameter being Precise's ability to easily integrate with different access management systems. The partnership with Genetec continues to develop, and the joint solution with a focus on palm was presented during the period at events including the ISC West security tradeshow in Las Vegas.
On the downside, one of Precise Access's major installations, worth around SEK 0.8 million in ARR, has been closed down after the end customer was declared bankrupt.
New packaging for Precise Visit
The visitor management system offering, Precise Visit by EastCoast, has been divided into three product packages to create a clearer, broader and more attractive offering. Precise Visit Go a well-packaged software solution at a lower price and with limited functionality for smaller companies with one office and limited needs. Precise Visit Professional the "regular" version of Visit, which offers premium functionality for companies that want the best visitor experience, the highest level of security and efficient administration, as well as needing add-on products and multiple locations. Precise Visit Multi-tenant for landlords and coworking spaces that want to offer a solution where multiple company names can be included.
A few highlights
High level of interest in the company's solutions in all markets and segments. Two areas that do stand out are the interest from access management partners in Precise Access in the USA and the number of new customer meetings booked for Precise Visit in Sweden and Norway.
New partnerships with suppliers of Access Management Systems.
A new improved integration with palm modality for Precise Access.
The investments made in the sales force and product packaging are starting to yield results.
New customers
There was a healthy influx of new customers during the quarter, and this also applies to upsales to existing customers in the form of more offices and countries. To name a few: Bonesupport, BSH Home Appliances, Gästrike Vatten, GPV International, Medicon Village, Oriola, Scandic Hotels, Tobii and Wordline. Examples of countries where the solutions have been implemented are Sweden, Norway, Denmark, Finland, Romania, Japan and Poland.
Customers who have migrated to the cloud include Anticimex, BSH Home Appliances, Extenda Retail and GPV International.
Roadmap
Several new functions were launched during the period, while improvements were made in security, integrations and user experience. Rebranding to Precise Access and Precise Visit by EastCoast is also part of the roadmap.
Interim Report January June 2025 Precise Biometrics AB (publ), corp. ID no. 556545-6596
Biometric Technologies
The need for biometric security continues to develop rapidly, and Precise's offering remains particularly relevant. The company has a strong global position as a reliable and leading operator for premium solutions in the field of biometrics, and developments during the quarter were positive from both a customer and an innovation perspective.
Market and sales
The mobile phones vertical continues to deliver, with several new projects won during the quarter. Existing customers continue to generate good volumes, albeit with lower growth due to a degree of uncertainty related to tariffs and the global security situation. The relationship with Qualcomm and EgisTech is developing positively and continues to generate revenues.
The automotive industry is sending out positive signals, and revenues are in line with expectations, although the company is currently experiencing a great deal of and inertia in new business dialogs.
Another area with excellent potential is national ID programs, where several new contracts have been signed. The need for anti-spoofing and liveness has increased as security requirements become stricter, and Precise sees great opportunities in this area. However, the complexity and size of projects linked to national ID programs often means that the lead time is longer compared with projects in other segments, but things are moving forward.
The investment in palm took important steps during the quarter, and the modality is going from strength to strength. A few highlights:
Technological development continues, with further advances in performance, security, anti-spoofing and a broader offering for Android in embedded environments.
A fully tested integration with Precise Access is now in place, as well as other access management systems.
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A number of pilot projects are under way in the US in the field of physical access.
The business partner HandID has, a little belatedly, continued the development of its palm reader and is approaching a final product, with mass production planned for the end of the year.
Government agency initiatives are showing a growing interest in palm modality, and several actors have started to specify strict performance and security requirements linked to this technology.
Another area of strong development is our biometric services, where there has been a significant increase in interest. This applies in particular to biometric data collection, which aims to optimize performance and security in devices with biometric authentication. End customers including mobile phone manufacturers also recognize the tremendous value in Precise's biometric expertise to further develop security, performance and user experience in their products.
Development and innovation
Precise continues to further develop and strengthen its biometric platform, by both further developing individual products and identifying synergies within the overall product suite.
Examples of ongoing initiatives:
General improvements to performance and security, with an extra focus on BioLive and anti-spoof.
Support for new sensors and customer projects, especially in the ultrasonic area.
Synthetic image generation for the faster and more efficient optimization of solutions in respect of performance and security.
Improved performance and packaging for palm.
Interim Report January June 2025 Precise Biometrics AB (publ), corp. ID no. 556545-6596
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New website for Precise
In June, Precise launched its new website, precisebiometrics.com. The website is one of Precise's key channels for external communication, both regarding the company's commercial offering and for communication to the investor target group.
The new website better reflects who Precise is, the company's ambitions, the company's full commercial offering and the IR agenda. The site presents the company's diversified offering in a clear way to relevant target groups.
In connection with the launch, a new additional primary color, purple, is also being introduced, to supplement the existing color palette. The aim is to create a clearer identity for Precise. The project should not, however, be viewed as a branding project, but as a website launch that to a lesser extent involved a review of the structure of the offering and the visual expression.
"The goal with our new website is to create a sales-driven platform that helps visitors understand Precise's diverse offering, the value we deliver, and who we are. It's also designed to give investors a clear and simple way to get the information they need. Now the fun part begins -- testing, analyzing, and improving the content, user experience, SEO, CRO, and mInteorirmeR.e"port January June 2025
Precise Biometrics AB (publ),Fcroerpd. rIDiknoA. 5n5d65r4é5,-6C59M6 O Precise Biometrics
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Customer offering
In a society where security and user-friendliness are becoming increasingly central, Precise helps create increased peace of mind by developing innovative technical solutions in the areas of cybersecurity and biometric recognition. Simplicity and a first-class user experience are combined with performance and a high level of security. Instead of using a PIN, password, key, card, etc. you use your finger, face or hand for authentication or identification.
There are areas of application in both digital and physical access, and the applications are found in, for example, mobile phones, laptops, logical access, payment, vehicles, and in visitor management and access systems, and various forms of government initiatives such as national ID systems and Automated Biometric Identification Systems (ABIS).
The offering consists of biometric algorithm products, basic technology, which component manufacturers use in their products, and also end-customer products for access and visitor management.
The focus is on creating a safe and seamless everyday experience for people by combining first class user experience with a high level of security in cybersecurity and biometric security solutions.
Why Precise?
Enables smarter and more secure authentication and identification for mobile phones, vehicles, secure logins, visitor management and physical access, while supporting government agency initiatives such as national ID programs and ABIS.
Unique position and over 25 years of expertise. 100,000 biometric verifications every second. Global reach and trust from leading actors. 100% software and SaaS, creating flexibility and the
facility to make quick changes. Hardware-independent. Combines different biometric modalities such as finger,
palm, and face.
Our products
Access and visitor management
Precise Access is our biometric access solution for physical entry through palm or facial recognition.
Precise Visit by EastCoast is our visitor management system that offers a premium visitor experience while improving security, administration and compliance.
Biometric software suite for palm and finger recognition
BioMatch is our fingerprint and palm matching product. BioLive is our product to prevent manipulation, fraud
and forgery by ensuring the authenticity of biometric prints. BioEnhance is our product for image enhancement, e.g., regarding biometric prints before matching. Biometric Services is our offering for biometric expertise, data collection and spoof creation.
obile phones
aptops
Automotive
ogical access
Interim Report January June 2025 Precise Biometrics AB (publ), corp. ID no. 556545-6596
Visitor management
Physical access
Payments
overnment enterprise
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Net sales and operating profit/loss
Net sales for the quarter
Net sales for the quarter totaled SEK 20.8 (20.6) million, divided between royalty revenues of SEK 8.8 (8.1) million, license fees (including support and maintenance) of SEK 10.0 (10.4) million and other revenues of SEK 2.0 (2.1) million. Royalty revenues for the second quarter are slightly higher than in the previous year, even though they were negatively impacted by a renegotiated customer agreement. The agreement entails increased revenue on an annual basis, but lower royalty revenue during the quarter by approximately SEK 1 million. The agreement will have a positive effect in the second half of the year, as revenues will be distributed more evenly between the quarters ahead. A weaker USD also had a negative impact on revenues.
Biometric Technologies
Net sales for Biometric Technologies totaled SEK 15.3 (15.1) million and are reported under royalties at SEK 8.8 (8.1) million, licenses at SEK 5.4 (5.7) million, and other revenues at SEK 1.1 (1.3) million. Royalty revenues in the second quarter were slightly higher than in the previous year, despite the negative impact from a renegotiated customer agreement and a weaker USD. The renegotiation of the agreement is positive and entails an increase in revenue on an annual basis, but the change affects how revenue is distributed over the year. The gross margin during the quarter totaled 82.2% (84.6). The decrease is mainly due to higher costs of goods and services sold.
Digital Identity
Net sales for Digital Identity totaled SEK 5.5 (5.5) million and are reported under licenses at SEK 4.6 (4.7) million, and other revenues at SEK 0.9 (0.8) million.
The proportion of annual recurring revenue (ARR) was SEK 18.2 (18.6) million at the end of the quarter. The lower ARR level is
explained by an individual customer agreement that was terminated during the period, with a negative impact of approximately SEK 0.8 million.
At the same time, the quarter saw positive new sales. The gross margin during the quarter totaled 49.2% (35.4). The improved gross margin is due to reduced depreciation/amortization, which in turn is an effect of lower capitalization of development expenses in previous periods.
Earnings for the quarter
The gross margin during the quarter totaled 73.5% (71.4). The increase is primarily due to reduced depreciation/amortization. Amortization of capitalized development expenses totaled SEK 3.7 (4.2) million. Amortization of acquired intangible assets totaled SEK 0.6 (0.6) million.
Operating expenses for the quarter increased to SEK 21.0 (20.4) million. During the quarter, the company was negatively affected by the trend in the USD exchange rate, which resulted in other operating expenses of SEK -0.9 million, compared with SEK -0.1 million in the same quarter in the previous year.
The profit/loss at EBITDA level decreased to SEK -0.5 (0.1) million, which is explained by the exchange rate impact as described above, a renegotiated customer agreement which in accounting terms entails approximately SEK 1 million lower income in the quarter, but higher income on an annual basis.
The operating profit/loss (EBIT) for the quarter totaled SEK -5.7 (-5.7) million. Earnings totaled SEK -5.8 (-5.6) million. Total depreciation/amortization was SEK 5.2 (5.8) million.
Earnings per share (average number of shares) for the quarter totaled SEK -0.07 (-0.07).
Net sales & Gross margin
35
80%
30
25
70%
20
15
10
60%
5
0
50%
Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25
Net sales
Gross margin
Operating profit/Loss& EBITDA
8 6 4 2 0 -2 -4 -6 -8
Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25
Profit/ Loss
EBITDA
Interim Report January June 2025 Precise Biometrics AB (publ), corp. ID no. 556545-6596
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Net sales for the interim period
Net sales during the interim period totaled SEK 40.8 (42.3) million. Net sales are reported under royalty revenues at SEK 17.5 (18.6) million, license fees (including support and maintenance) at SEK 19.8 (20.2) million and other revenues at SEK 3.5 (3.5) million. The reduction in royalty revenues is negatively affected by a renegotiated customer agreement. The agreement entails increased revenue on an annual basis, but lower royalty revenue during the interim period by approximately SEK 2 million. License fees were down year-onyear mainly due to changes in the composition of customers and renegotiated license agreements due to the reduced support needs of some customers. A weaker USD also had a negative impact on revenues.
Biometric Technologies
Net sales for Biometric Technologies totaled SEK 30.2 (31.7) million and are reported under royalties at SEK 17.5 (18.6) million, licenses at SEK 10.5 (11.0) million, and other revenues at SEK 2.3 (2.2) million. Royalty revenues during the interim period were slightly lower than in the previous year, with a negative impact from a renegotiated customer agreement and a weaker USD. License fees were down year-on-year mainly due to changes in the composition of customers and renegotiated license agreements due to the reduced support needs of some customers. The gross margin during the interim period was 82.5% (84.9).
Digital Identity
Net sales for Digital Identity totaled SEK 10.6 (10.5) million and are reported under licenses at SEK 9.3 (9.2) million and other revenues at SEK 1.3 (1.3) million. The ARR at the end of the interim period was SEK 18.2 (18.6) million. The lower ARR level is explained by an individual customer agreement that was terminated during the period, with a negative impact of approximately SEK 0.8 million. The gross margin during the interim period was 44.7% (32.2).
Earnings for the interim period
The gross margin during the interim period was 72.7% (71.8). The improved gross margin is due to reduced depreciation/amortization, which in turn is an effect of lower capitalization of development expenses in previous periods. Total amortization of capitalized development expenses was SEK 7.5 (8.5) million. Amortization of acquired intangible assets totaled SEK 1.2 (1.2) million.
Operating expenses for the interim period increased to SEK 42.4 (38.9) million. During the interim period, the company was
negatively affected by the trend in the USD exchange rate, which in its entirety resulted in other operating expenses of SEK -2.4 million. The corresponding interim period in the previous year saw operating income of SEK 0.5 million, which means a currency-related change of SEK 2.9 million between the periods.
The profit/loss at EBITDA level fell to SEK -2.2 (3.2) million. This is explained by the exchange rate impact as described above, a renegotiated customer agreement which in accounting terms entails approximately SEK 2 million lower income in the quarter, but higher income on an annual basis. The operating profit/loss for the interim period totaled SEK -12.8 (-8.5) million. Earnings for the interim period totaled SEK -13.0 (-8.5) million. Total depreciation/amortization totaled SEK 10.5 (11.6) million. Earnings per share (average number of shares) for the interim period totaled SEK -0.17 (-0.11).
Net financial items and tax
Net financial items for the quarter totaled SEK -0.2 (0.0) million and the tax expense totaled SEK 0.1 (0.1) million. Net financial items for the interim period totaled SEK -0.4 (-0.2) million and the tax expense totaled SEK 0.2 (0.2) million.
Net financial items are attributable to exchange rate differences in cash and cash equivalents, interest income, interest on the lease liability in accordance with IFRS 16, as well as interest expense on the deferred fixed purchase price related to the acquisition of EastCoast.
Cash flow and investments
The cash flow from operating activities during the quarter totaled SEK 1.3 (3.9) million, of which SEK 2.0 (3.8) million is attributable to changes in working capital. The Group invested SEK -0.7 (0.1) million in property, plant and equipment during the quarter. Total cash flow for the period was SEK 2.3 (0.6) million.
Cash flow for the interim period from operating activities totaled SEK 3.4 (1.0) million, primarily attributable to a positive change in working capital of SEK 6.1 (-2.0) million. The Group invested SEK -0.7 (0.1) million in property plant and equipment during the interim period. Total cash flow for the interim period was SEK -3.8 (-5.9) million.
Capitalization and amortization of
development work
Development expenses of SEK 2.8 (2.6) million were capitalized during the quarter, and amortization of capitalized development expenses in respect of Digital Identity and
Interim Report January June 2025 Precise Biometrics AB (publ), corp. ID no. 556545-6596
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Biometric Technologies totaled SEK 3.7 (4.2) million. Development expenses of SEK 5.7 (5.6) million were capitalized during the interim period, and amortization of capitalized development expenses totaled SEK 7.5 (8.5) million.
Right of use assets
No new rental agreements were added during the quarter, but the interim period saw an extension of rental agreements in Lund and indexation of rent in Lund and Stockholm, which resulted in an increase in lease liabilities of SEK 3.4 (5.8) million. Right of use assets totaled SEK 11.3 (8.6) million at the end of the period.
Financial position and liquidity
Cash and cash equivalents at the end of the period totaled SEK 33.6 (41.7) million. Total equity at the end of the period was SEK 138.1 (150.9) million, and equity per share was SEK 1.76 (1.92).
Operating cash flow & Cash
80
20
70
15
60
50
10
40
5 SEKm
30
0
20
10
-5
0
-10
Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25
Cash
Cash flow
The parent company
The parent company's net sales for the quarter totaled SEK 15.8 (15.5) million and operating profit/loss for the quarter totaled SEK -6.0 (-5.3) million and was charged with amortization of goodwill totaling SEK 0.6 (0.6) million. Net sales for the interim period totaled SEK 31.9 million (33.2). The operating profit/loss totaled SEK -12.7 (-8.3) million and was affected by amortization of goodwill totaling SEK 1.2 (1.2) million. Cash and cash equivalents at the end of the interim period totaled SEK 24.8 (29.2) million, and equity SEK 126.1 (140.9) million.
Organization and staff
The organization consists of the head office in Lund, Sweden, and offices in Stockholm, Sweden, Potsdam, USA, and Shanghai, China. At the end of the interim period, the Group had a workforce of 45 (44) people, including on-site consultants. The number of employees was 36 (33), of which 29 (24) were located in Sweden. Precise works in an agile way together with several partners, creating a fast-moving, scalable organization. The number of employees does not include partners.
Financial Calendar
Q3 Interim Report 2025 November 14, 2025 Year-End Report 2025 February 12, 2026 Q1 Interim Report 2026 May 13, 2026 AGM 2026 May 21, 2026
Risk factors
The roup and parent company's business risks and risk management as well as the management of financial risks are described in detail in the Annual Report for 2024, which was issued in April 2025. There have been no incidents of significant importance since then that would affect or change these descriptions of the roup or parent company's risks and how they are managed.
Ownership structure
Precise Biometrics AB (publ), corporate ID number 5565456596, is the parent company in the Precise Biometrics Group. Precise Biometrics AB's shares are listed on the Nasdaq O X Nordic Small Cap list. The number of shareholders at the end of the quarter was 21,272 (18,893). 77,604,950 (194,684,836) PREC shares were traded during the quarter. The closing price on June 30 was SEK 3.40 (3.67), and during the quarter the share price fluctuated between SEK 3.32 (1.14) and SEK 4.42 (4.95).
Interim Report January June 2025 Precise Biometrics AB (publ), corp. ID no. 556545-6596
15
This interim report has not been audited by the company's auditors. The undersigned certify that the interim report provides a true and fair view of the parent company and roup's operations, financial position and financial results, and describes the significant risks and uncertainty factors faced by the parent company and the companies that belong to the Group.
Lund, August 15, 2025
Torgny Hellström Chairman of the Board
Howard Ro Board member
Peter Gullander Board member
Victor Kuzmin Board member
Maria Rydén Board member
Åsa Schwarz Board member
Joakim Nydemark CEO
For further information, please contact: Joakim Nydemark, CEO Email: joakim.nýdemark@precisebiometrics.com
This information is information that Precise Biometrics AB is obligated to disclose pursuant to the EU Market Abuse Regulation. The information was submitted for publication on August 15, 2025 at 08:00 (CET).
Interim Report January June 2025 Precise Biometrics AB (publ), corp. ID no. 556545-6596
16
Consolidated income statement in summary
Am ounts in SEK thousand
Net sales Cost of goods sold Gross profit
Marketing and sales expenses Administrative expenses R&D expenses Other operating income/expenses
Operating profit/loss
Finacial income/expenses
Profit/Loss before tax
Tax Profit/loss for the period attributable to parent com pany s har e holde r s
Earnings per share, remaining operations, SEK* - before dilution - after dilution
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Profit/Loss for the period Other com prehensive incom e: Items that may be reclassified to profit or loss Changes in accumulated exchange rate differences Other com prehensive incom e for the period
Note 2,3
4
2025 Apr-Jun
2024 Apr-Jun
2025 Jan-Jun
2024
2024
Jan-Jun Full-year
Rolling 12 m th
20 784 -5 505 15 279
20 582 -5 881 14 701
40 791 -11 120 29 671
42 266 -11 908 30 358
86 852 -23 786 63 066
85 377 -22 998 62 379
-9 101 -3 886 -7 149
-850 -20 985
-9 399 -3 744 -7 086
-135 -20 365
-17 905 -7 830
-14 246 -2 447
-42 429
-17 883 -7 594
-13 894 523
-38 848
-32 982 -13 789 -26 966
1 256 -72 480
-33 004 -14 025 -27 318
-1 714 -76 061
-5 707
-5 664 -12 758
-8 490
-9 414 -13 682
-150
10
-378
-219
630
471
-5 858
-5 654 -13 136
-8 709
-8 784 -13 211
87 -5 770
88 -5 565
173 -12 963
174 -8 534
351 -8 433
350 -12 862
-0,07 -0,07
-0,07 -0,07
-0,17 -0,17
-0,11 -0,11
-0,11 -0,11
-0,16 -0,16
-5 770
-5 565 -12 963
-8 534
-8 433 -12 862
-198 -198
-17
-540
141
274
-407
-17
-540
141
274
-407
Profit/Loss total attributable to holders of participations in the parent com pany
-5 968
-5 582 -13 503
-8 393
-8 159 -13 269
*Dilution effects are only considered in the event that the earnings per share become worse. Dilution effects have not been considered, as the average price is below the subscription price in current option programs.
Interim Report January June 2025 Precise Biometrics AB (publ), corp. ID no. 556545-6596
17
Consolidated balance sheet in summary
Amounts in SEK thousand
ASSETS
Note
2025-06-30 2024-06-30 2024-12-31
FIXED ASSETS Material assets Goodw ill and immaterial assets TOTAL FIXED ASSETS
12 944 121 708 134 652
10 413 128 620 139 033
10 639 124 741 135 380
CURRENT ASSETS Inventories Accounts receivable Other current receivabels Accruals and deferred income Cash and cash equivalents TOTAL CURRENT ASSETS
225
291
242
15 120
19 897
23 813
3 918
3 579
3 123
2 822
3 091
2 804
4,6
33 577
41 746
37 704
55 662
68 603
67 686
TOTAL ASSETS
190 314 207 636 203 066
EQUITY AND LIABILITIES
EQUITY Equity TOTAL EQUITY ATTRIBUTABLE TO PARENT COM PANY SHAREHOLDERS
138 069 138 069
150 927 150 927
151 163 151 163
LONG-TERM DEBT Long term debt TOTAL LONG-TERM DEBT
6
18 623
21 904
16 281
18 623
21 904
16 281
SHORT-TERM LIABILITIES Short-term liabilities Total Short-term liabilities
4,6
33 621
34 805
35 621
33 621
34 805
35 621
TOTAL EQUITY AND LIABILITIES
190 314 207 636 203 066
Interim Report January June 2025 Precise Biometrics AB (publ), corp. ID no. 556545-6596
18
Consolidated cash flow statement in
summary
Amounts in SEK thousand
Note
2025
2024
2025
2024
2024
Apr-Jun Apr-Jun Jan-Jun Jan-Jun Full-year
Rolling 12 m th
Cash flow from operating activities Operating profit/loss Adjustments for items not included in cash flow Interest payments, net Tax paid Cash flow from operating activities before changes in w orking capital
-5 707 5 158 -150
-3 -702
-5 664 5 737
10 -4 79
-12 758 10 410
-378 0
-2 726
-8 490 11 748
-219 -11
3 028
-9 414 22 928
630 -22 14 122
-13 682 21 590
471 -11 8 368
Cash flow from changes in w orking capital Change in inventories Change in current receivables Change in current liabilities
-3 7 003 -4 991 2 009
2 6 365 -2 591 3 776
17 7 827 -1 708 6 136
68 -941 -1 132 -2 005
117 -4 113
-71 -4 067
66 4 655 -648 4 074
Cash flow from operating activities
1 307
3 855
3 410
1 024
10 055
12 442
Acquisition of subsidiaries Investment in fixed assets Investment in intangible assets Cash flow from investing activities
6
0
0
0
0
-6 168
-6 168
-672
76
-712
107
-370
-1 189
-2 761
-2 674
-5 722
-5 729 -10 967 -10 960
-3 433
-2 598
-6 434
-5 622 -17 505 -18 317
Repurchase of ow n shares Options Payment of lease liability Cash flow from financing activities
0 407 -593 -186
-1 0 -639 -640
-1 407 -1 193 -787
-2 0 -1 261 -1 263
-3 0 -2 542 -2 545
-2 407 -2 475 -2 070
Total Cash flow Cash & cash equivalents at beginning of year Exchange rate differences in cash & cash equivalents Cash & cash equivalents at end of period 1)
-2 312 36 036
-147 33 577
616 41 148
-18 41 746
-3 810 37 704
-317 33 577
-5 862 47 534
73 41 746
-9 994 47 534
164 37 704
-7 943 41 746
-226 33 577
1) The balance sheet item Cash & Cash Equivalents only includes bank balances at both the beginning and end of the period.
Interim Report January June 2025 Precise Biometrics AB (publ), corp. ID no. 556545-6596
19
Consolidated change in equity in summary
Amounts in SEK thousand
Equity at start of period
Com prehensive incom e Profit/loss for the period
Other com prehensive incom e Exchange differences Total other comprehensive income Total comprehensive income
Transactions w ith shareholders LTI programme Total transactions w ith shareholders Equity end of period
Note
2025 Jan-Jun 151 163
2024 Jan-Jun 159 319
2024 Full-ye ar
159 319
Rolling 12 m th 150 927
-12 963
-8 534
-8 433 -12 862
-540 -540 -13 503
141 141 -8 393
274 274 -8 159
-407 -407 -13 269
5
409
2
2
409
409
2
2
409
138 069 150 927 151 163 138 069
Interim Report January June 2025 Precise Biometrics AB (publ), corp. ID no. 556545-6596
20
Notes
Note 1 Accounting policies
This interim report has been prepared in accordance with IAS 34 Interim Financial Reporting. The parent company's financial statements have been prepared in accordance with the Swedish Annual Accounts Act and the Swedish Annual Reporting Board's recommendation RFR 2, Accounting for Legal Entities. The recognition and measurement policies and bases of estimates applied in the Annual Report for 2024 report have also been used in this interim report.
Note 2 Revenue allocation
Am ounts in SEK thousand
2025 Apr-Jun
2024 Apr-Jun
2025 Jan-Jun
2024
2024
Jan-Jun Full-year
Rolling 12 m th
Segment Biometric Technologies Royalty Licenses, incl. support & maintenance Other
8 804 5 368 1 126
8 096 5 714 1 259
17 468 10 489
2 272
18 584 10 995
2 170
41 089 21 976
2 358
39 972 21 471
2 460
Digital Identity Licenses, incl. support & maintenance Other Total
4 621 865
20 784
4 682 831
20 582
9 261 1 302 40 791
9 197 1 320 42 266
18 588 2 841
86 852
18 651 2 822
85 377
Timing of revenue recognition At point in time* Over time** Total
10 686 10 098 20 784
9 878 10 704 20 582
20 944 19 847 40 791
21 762 20 504 42 266
47 777 39 075 86 852
46 959 38 418 85 377
Region/Country Europe
- w hereof Sw eden Asia
- w hereof China - w hereof Taiw an USA Total
6 412 4 733 7 241
275 5 987 7 132 20 784
7 118 5 496 7 795
337 6 720 5 671 20 582
12 886 9 997
13 635 551
11 314 14 269 40 791
12 941 10 315 15 920
698 13 591 13 405 42 266
27 598 20 356 29 443
1 372 24 963 29 811 86 852
27 542 20 038 27 159
1 225 22 686 30 675 85 377
* Sale at a certain time means that revenue is reported point-in-time at the start of the agreement period, when control has been transferred to the customer. Royalties have been moved to sales at a certain point in time in order to provide a more accurate picture.
** Sales over time means that revenue is accrued on a straight-line basis over the term of the agreement.
Interim Report January June 2025 Precise Biometrics AB (publ), corp. ID no. 556545-6596
21
Note 3 Segment reporting
Net sales Cost of goods sold exkl. depreciation Depreciation included in cost of sold goods
Gross profit
Biom etric Te chnologie s
15 298 -451
-2 269 12 577
Digital Ide ntity
5 486 -954 -1 831 2 701
2025
Apr-Jun Total Biom etric
Segm ent Technologies
20 784
15 069
-1 405
-104
-4 100
-2 218
15 279
12 748
Digital Ide ntity
5 514 -1 177 -2 384 1 954
2024
Apr-Jun Total
Segm ent 20 582 -1 280 -4 601 14 701
Net sales Cost of goods sold exkl. depreciation Depreciation included in cost of sold goods
Gross profit
Biom etric Te chnologie s
30 228 -723
-4 558 24 947
Digital Ide ntity
10 563 -2 011 -3 829 4 723
2025
Jan-Jun Total Biom etric
Segm ent Technologies
40 791
31 749
-2 733
-324
-8 387
-4 456
29 671
26 969
Digital Ide ntity
10 518 -2 240 -4 889 3 389
2024
Jan-Jun Total
Segm ent 42 266 -2 564 -9 345 30 358
Net sales Cost of goods sold exkl. depreciation Depreciation included in cost of sold goods
Gross profit
Biom etric Te chnologie s
65 424 -1 259 -9 402 54 764
Digital Ide ntity
21 428 -4 297 -8 828 8 303
2024
Full-ye ar Total Biom etric
Segm ent Technologies
86 852
63 904
-5 556
-1 658
-18 230 63 066
-9 504 52 743
Digital Ide ntity
21 473 -4 068 -7 768 9 637
Rolling
12 m th Total
Segm ent 85 376 -5 725 -17 272 62 379
Other inform ation
Only net sales and product costs are allocated to each segment. Other costs are not allocated at segment level as these items relate to group operations
Reconciliation profit/Loss Gross profit Marketing and sales expenses Administrative expenses R&D expenses Other operating income/expenses Finacial income/expenses Profit/Loss before tax
2025 Apr-Jun
15 279 -9 101 -3 886 -7 149
-850 -150 -5 858
2024 Apr-Jun
14 701 -9 399 -3 744 -7 086
-135 10
-5 654
2025 Jan-Jun
29 671 -17 905
-7 830 -14 246
-2 447 -378
-13 136
2024 Jan-Jun
30 358 -17 883
-7 594 -13 894
523 -219 -8 709
2024 Full-ye ar
63 066 -32 982 -13 789 -26 966
1 256 630
-8 784
Rolling 12 m th 62 379 -33 004 -14 025 -27 318
-1 714 471
-13 211
Interim Report January June 2025 Precise Biometrics AB (publ), corp. ID no. 556545-6596
22
Note 4 Financial instruments
The fair value in respect of financial assets and liabilities corresponds in all material respects with the carrying amount in the balance sheet.
Interest-bearing liabilities
On November 30, 2022, a supplementary agreement was signed that changed the terms and conditions for the remaining liability of SEK 55,000 thousand for the acquisition of EastCoast Solutions AB (see Note 6). SEK 30,000 thousand was paid on December 1, 2022, SEK 10,000 thousand on November 30, 2023 and SEK 5,000 thousand on November 30, 2024. SEK 5,000 thousand will be paid on November 30, 2025 and SEK 5,000 thousand on November 30, 2026. Interest will be added to the amounts of SEK 5,000 thousand due on November 30, 2025 and SEK 5,000 thousand due on November 30, 2026. Interest for the period from December 1, 2023 to November 30, 2024 was paid on November 30, 2024. The interest, of 3 months STIBOR + 8%, will be added from November 30, 2023 until the amounts have been paid. The liability is recognized as an interest-bearing liability as of June 30, 2025.
The liability has been calculated at current value at the original effective interest rate of 1.8% and is recognized as other current liabilities (SEK 5,961 thousand) and other non-current liabilities (SEK 5,351 thousand).
Note 5 LTI program
The Annual eneral eeting 2022 resolved, in accordance with the Board's proposal, to establish a long-term share bonus program (LTI 2022/2028) for all employees at Precise Biometrics. In order to facilitate the implementation of LTI 2022/2028 and to ensure the delivery of shares to the participants, and to cover the company's costs for social security contributions, the meeting also decided to amend the Articles of Association in the form of the introduction of new Class C shares, authorization for the Board of Directors to issue Class C shares, authorization for the Board of Directors to buy back Class C shares, and approval of the transfer of shares to participants in LTI 2022/2028. The implementation of Class C shares took place in Q4 2022. As of June 30, 2025, Precise Biometrics held 1,085,000 Class C shares.
The Annual eneral eeting 2025 resolved, in accordance with the Board's proposal, to establish a new long-term incentive plan (LTIP 2025/2028) for senior executives and other current and future employees within the Group by issuing a maximum of 1,200,000 stock options, which means that the company's share capital may increase by a maximum of SEK 360,000. All stock options have been issued free of charge to the wholly-owned subsidiary, Precise Biometrics Services AB, for onward transfer at market value to current employees who have been offered the opportunity to participate and to future employees within the Group.
As of June 30, 2025, approximately 450,000 stock options had been transferred to participants. The stock options have a term of three years and can be exercised for the subscription of shares during the period from August 1, 2028 to September 30, 2028. The conditions for continued holding and the right to exercise the options are regulated in separate transfer agreements, and may be affected by, for example, the termination of employment. Each stock option entitles the holder to subscribe to one new share in the company at a strike price of SEK 5.63 per share. As the options have been acquired at market value, there is no accounting cost for the company in accordance with IFRS 2.
Note 6 Business combinations
As of November 30, 2021, the Group acquired 100% of the shares in EastCoast Solutions AB and Besökssystem Sverige AB.
The purchase price totaled SEK 86,203 thousand, of which SEK 24,466 thousand was paid as of December 31, 2021, partly via a cash payment of SEK 18,000 thousand and partly via the issuing of new shares totaling SEK 6,466 thousand. An additional SEK 8,268 thousand was paid in cash in January 2022.
On November 30, 2022, a supplementary agreement was signed that changed the terms and conditions for the remaining liability of SEK 55,000 thousand for the acquisition. See Note 4 for details of the new terms and conditions.
During the second quarter of 2025, there is no impact on the roup's cash and cash equivalents in respect of business combinations.
Interim Report January June 2025
Precise Biometrics AB (publ), corp. ID no. 556545-6596
23
Parent company income statement in
summary
Am ounts in SEK thousand
Net sales Cost of goods sold Gross profit
Marketing and sales expenses Administrative expenses R&D expenses Other operating income/expenses
Operating profit/loss
Financial income/expenses
Group contributions received
Profit/loss before tax
Tax Profit/loss for the period
Note 1
2025 Apr-Jun
2024 Apr-Jun
2025 Jan-Jun
2024
2024
Jan-Jun Full-year
Rolling 12 m th
15 841 -7 039 8 802
15 498 -7 113 8 385
31 906 -14 663 17 243
33 208 -15 326 17 882
69 959 -32 412 37 547
68 657 -31 750 36 907
-5 452 -3 740 -4 731
-852 -14 775
-5 625 -3 558 -4 492
12 -13 662
-11 090 -7 555 -8 888 -2 439
-29 972
-11 309 -7 285 -8 294 667
-26 221
-20 783 -13 227 -16 031
1 261 -48 780
-20 564 -13 497 -16 625
-1 845 -52 531
-5 973
-5 277 -12 729
-8 339 -11 233 -15 624
-62
95
-162
-45
809
692
0
0
0
0
151
151
-6 035
-5 182 -12 891
-8 384 -10 274 -14 781
0 -6 035
0 -5 182
0 -12 891
0 -8 384
0 -10 274
0 -14 781
Interim Report January June 2025 Precise Biometrics AB (publ), corp. ID no. 556545-6596
24
Parent company balance sheet in summary
Amounts in SEK thousand
ASSETS
Note
2025-06-30 2024-06-30 2024-12-31
Fixed assets Fixed assets Immaterial assets Deferred tax assets TOTAL FIXED ASSETS
1 223 19 918 90 558 111 699
1 487 26 910 90 558 118 955
1 196 22 812 90 558 114 566
CURRENT ASSETS Inventories Accounts receivable Receivable Group Other receivables Accruals and deferred income Cash and cash equivalents TOTAL CURRENT ASSETS
0 12 640
6 129 2 393 2 296 24 794 48 252
0 16 607
1 392 11 571
2 663 29 176 61 409
0 20 859
8 145 1 841 2 449 25 452 58 746
TOTAL ASSETS
159 951
180 364 173 312
EQUITY AND LIABILITIES
Restricted Equity Share capital Statutory reserve Reserve for development expenses Total restricted equity
23 539 1 445
14 597 39 581
23 539 1 445
20 002 44 986
23 539 1 445
15 911 40 895
Unrestricted Equity Share premium reserve Retained earnings Profit/loss for the year Total non-restricted equity
168 316 -68 902 -12 891 86 523
168 316 -64 033
-8 384 95 899
168 316 -59 942 -10 274 98 100
Total Equity
126 104
140 885 138 995
LONG-TERM DEBT Long term debt TOTAL LONG-TERM DEBT
5 369 5 369
11 357 11 357
5 337 5 337
SHORT-TERM LIABILITIES Short-term liabilities Total Short-term liabilities
TOTAL EQUITY AND LIABILITIES
28 478 28 478
159 951
28 122 28 122
28 979 28 979
180 364 173 312
Interim Report January June 2025 Precise Biometrics AB (publ), corp. ID no. 556545-6596
25
Consolidated key indicators
Amounts in SEK thousands unless otherw ise stated Net sales Net sales grow th, % Gross margin, % EBITDA Operating profit/loss Working capital * Capital employed Liquidity ratio, % Equity/assets ratio, % Earnings per share before dilution, SEK Earnings per share after dilution, SEK Equity per share, SEK Number of shares (thousands)
Weighted avg. number of shares, adjusted for dilution effect (thousands) Number of employees at the end of the period Average number of employees during the period Annual Recurring Revenue
2025 Apr-Jun
20 784 1,0%
73,5% -547
-5 707 28 015 149 413 164,9% 72,5%
-0,07 -0,07 1,76 78 464
2024 Apr-Jun
20 582 15,1% 71,4%
89 -5 664 39 923 168 409 196,3% 72,7%
-0,07 -0,07 1,92 78 464
2025 Jan- Jun
40 791 -3,5% 72,7% -2 236 -12 758 28 015 149 413 164,9% 72,5% -0,17 -0,17
1,76 78 464
2024 Jan-Jun
42 266 14,1% 71,8% 3 158 -8 490 39 923 168 409 196,3% 72,7%
-0,11 -0,11 1,92 78 464
78 464 36 36
18 227
78 464 32 33
18 645
78 464 36 36
18 227
78 464 32 32
18 645
2024 Full-ye ar
86 852 15,7% 72,6% 13 379 -9 414 38 019 162 455 189,3% 74,4%
-0,11 -0,11 1,93 78 464
Rolling 12 m th 85 377
6,3% 73,1% 7 985 -13 682 28 015 149 413 164,9% 72,5%
-0,16 -0,16 1,76 78 464
78 464 35 32
18 980
78 464 36 34
* The key indicator is calculated excluding current liabilities to EastCoast International AB.
Interim Report January June 2025 Precise Biometrics AB (publ), corp. ID no. 556545-6596
26
Alternative consolidated key indicators
Amounts in SEK thousands unless otherw ise stated
Net sales Net sales grow th, %
Gross profit Net sales Gross m argin, %
Operating profit/loss Net sales Operating m argin, %
EBITDA Depreciation and amortization Operating profit/loss
Current assets Current liabilities excl. current liabilities EastCoast International* Working capital
Sales expenses Administrative expenses R&D expenses Other operating income/expenses Total operating expenses
Cost of goods and services sold Depreciation Cost of goods sold Cost of goods and services sold excluding de pr e ciation
Operating expenses Depreciation Operating expenses Operating costs excluding depreciation
Balance sheet total Non-interest-bearing liabilities Capital em ployed
Closing equity Average equity
Current assets minus inventories Current liabilities Liquidity ratio, %
Equity Total assets Equity/assets ratio, %
2025 Apr-Jun
2024 Apr-Jun
2025 Jan-Jun
2024
2024
Jan-Jun Full-year
Rolling 12 m th
20 784 1,0%
20 582 15,1%
40 791 -3,5%
42 266 14,1%
86 852 15,7%
85 377 6,3%
15 279 20 784 73,5%
14 701 20 582 71,4%
29 671 40 791 72,7%
30 358 42 266 71,8%
63 066 86 852 72,6%
62 379 85 377 73,1%
-5 707 20 784 -27,5%
-5 664 20 582 -27,5%
-12 758 40 791 -31,3%
-8 490 42 266 -20,1%
-9 414 86 852 -10,8%
-13 682 85 377 -16,0%
-547 -5 160 -5 707
89 -5 752 -5 664
-2 236 -10 522 -12 758
3 158 -11 648
-8 490
13 379 -22 794
-9 414
7 985 -21 668 -13 682
55 662
27 646 28 015
68 603
28 681 39 923
55 662
27 646 28 015
68 603
28 681 39 923
67 686
29 667 38 019
55 662
27 646 28 015
-9 101 -3 886 -7 149
-850 -20 985
-9 399 -3 744 -7 086
-135 -20 365
-17 905 -7 830
-14 246 -2 447
-42 429
-17 883 -7 594
-13 894 523
-38 848
-32 982 -13 789 -26 966
1 256 -72 480
-33 004 -14 025 -27 318
-1 714 -76 061
-5 505 4 100
-1 405
-5 881 4 600
-1 281
-11 120 8 387
-2 733
-11 908 9 344
-2 564
-23 786 18 230
-5 556
-22 998 17 272
-5 725
-20 985 1 060
-19 926
-20 365 1 152
-19 212
-42 429 2 134
-40 294
-38 848 2 304
-36 543
-72 480 4 564
-67 916
-76 061 4 395
-71 666
190 314 40 900
149 413
207 636 39 228
168 409
190 314 40 900
149 413
207 636 39 228
168 409
203 066 40 611
162 455
190 314 40 900
149 413
138 069 146 265
150 927 157 833
138 069 146 265
150 927 157 833
151 163 152 700
138 069 146 265
55 437 33 621
165%
68 312 34 805
196%
55 437 33 621
165%
68 312 34 805
196%
67 445 35 621
189%
55 437 33 621
165%
138 069 190 314
72,5%
150 927 207 636
72,7%
138 069 190 314
72,5%
150 927 207 636
72,7%
151 163 203 066
74,4%
138 069 190 314
72,5%
Interim Report January June 2025 Precise Biometrics AB (publ), corp. ID no. 556545-6596
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Analysis of results, in summary
Amounts in SEK thousand
Net sales
Cost of goods and services sold excluding depreciation Operating costs excluding depreciation Capitalized development expenses
EBITDA
Total depreciation excluding acquired immaterial assets Total depreciation acquired immaterial assets
Operating profit/loss
Note 2,3
2025 Apr-Jun
2024 Apr-Jun
2025 Jan-Jun
2024
2024
Jan-Jun Full-year
Rolling 12 m th
20 784
20 582
40 791
42 266
86 852
85 377
-1 405 -22 686
2 760
-1 281 -21 818
2 605
-2 733 -46 015
5 721
-2 564 -42 123
5 579
-5 556 -78 883 10 967
-5 725 -82 776 11 110
-547
89
-2 236
3 158
13 379
7 985
-4 555 -605
-5 147 -605
-9 316 -1 206
-10 437 -1 211
-20 362 -2 431
-19 241 -2 426
-5 707
-5 664 -12 758
-8 490
-9 414 -13 682
Interim Report January June 2025 Precise Biometrics AB (publ), corp. ID no. 556545-6596
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Financial glossary
Annual Recurring Revenue (ARR)
ARR is defined as repeat revenues at the end of the quarter for Digital Identity, converted to a 12-month period. Consequently, there is no direct link between the ARR figure and future software revenues for Digital Identity. The ARR metric is used for contractual recurring revenues for the Digital Identity segment, as Digital Identity has a large customer base based on SaaS revenues. There are a small number of large customers in Biometric Technologies, and therefore license fees are not followed up using the definition of ARR in this segment.
Gross margin
Gross profit/loss divided by net sales. Indicates the proportion of sales that is left over to cover wages, other operating expenses, interest and profit.
Earnings before interest, depreciation and amortization (EBITDA)
Profit/loss before financial items and depreciation. This key indicator shows the roup's profit/loss before depreciation/amortization of capitalized assets. This measure makes it possible to make comparisons with other companies, regardless of whether the operation is based on acquisitions or through organic growth.
Equity
Equity at the end of the period. Equity is the difference between the roup's assets and liabilities, which corresponds to the roup's equity that has been contributed by shareholders and the roup's accumulated profit.
Equity per share
Equity on the balance sheet date divided by the number of shares on the balance sheet date. A measure of the value of equity per share, which is used when valuing the share in relation to the share price.
Average equity
The average equity was calculated as equity for the last four quarters divided by four.
Cash flow
Cash flow from operating activities after changes in working capital. The operating cash flow indicates whether a company can generate a sufficiently positive cash flow to maintain and expand its operation, or whether it needs external financing.
Liquidity ratio
Current assets excluding inventories divided by current liabilities. This key figure shows the group's ability to pay in the short term.
Net sales growth
Percentage change compared with the corresponding period in the previous year. A measure of whether a company's net sales are increasing.
Interim Report January June 2025 Precise Biometrics AB (publ), corp. ID no. 556545-6596
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Earnings per share after dilution
Profit/loss for the period divided by weighted average number of shares.
Earnings per share before dilution
Profit/loss for the period divided by average number of shares.
Return on equity
Profit/loss after tax divided by average equity. This key indicator shows the business's return on shareholders' capital invested and is thus a measure of how profitable the Group is. Investors can compare this measure with the current bank interest rate or return from alternative investments. The measure can also be used to compare profitability between companies in the same industry.
Working capital
Current assets less current liabilities. This measure shows the capital a company needs to finance operating activities.
Operating expenses
Operating expenses excluding cost of goods sold. Operating expenses are expenses that do not belong directly to a particular product or product group. Common operating expenses include, for example, wages and other personnel expenses, as well as rental of premises.
Operating margin
Operating profit/loss divided by net sales. Defines what proportion of each Swedish krona of sales is left over to cover interest, taxes and any possible profit.
Operating profit/loss
Profit/loss before net financial items and tax. A measure of a company's profit before interest and taxes, i.e., the difference between operating income and operating expenses.
Equity/assets ratio
Equity divided by assets on the balance sheet date. This key indicator shows what proportion of assets is funded by equity. This measure can be of interest when assessing the roup's ability to pay in the long term.
Capital employed
Total assets less non-interest-bearing liabilities and provisions. This measure shows how much capital is used in operations and is thus one component of measuring the return from operations.
Interim Report January June 2025 Precise Biometrics AB (publ), corp. ID no. 556545-6596
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YOU are the key
precisebiometrics.com
Interim Report January June 2025 Precise Biometrics AB (publ), corp. ID no. 556545-6596
