Fingerprint Biometrics - The link between the analog and digital you - IDEX
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The document discusses IDEX's financial results for Q4 2012 and outlook for 2013. It summarizes that IDEX signed a memorandum of understanding with a Chinese partner in Q4 2012 and expects a deal with an OEM partner. The biometrics market is positioned for strong growth driven by increasing smartphone, tablet, and Internet of Things adoption. IDEX is well positioned in the market with a strong patent portfolio in capacitive fingerprint sensing.
![IDEX!VS.!COMPETITION!
≒ IDEX!represent!the!most!complete!patent!por]olio!in!capaciFve!鍖ngerprint!
sensing!technology!outside!Apple!
≒ IDEX!owns!a!鍖rst@to@鍖le!patent!por]olio!covering!key!principles!and!
鴛禽掘掛!*!意鞄艶!壊温韓艶!鞄温厩艶稼!看韓!鍖n乙艶姻沿姻庄稼岳!
implementaFons!of!low*cost!鍖ngerprint!sensors!
≒ IDEX!patents!have!been!assessed!!and!veri鍖ed!in!a!liFgaFon!between!IDEX!and!
UPEK!(AuthenTec)/ST!Microelectronics!
≒ IDEX!SmartFinger速!o鍖ers!unsurpassed!image!quality!and!biometric!performance!
≒ IDEX!SmartFinger速!accepts!a!wide!range!of!swipe!speeds,!direcFons!and!
abnormal!鍖nger!movement!
≒ IDEXs!patented!soluFon!o鍖ers!鍖ngerprinFng!through!any!material,!including!glass!
Pro鍖t!and!loss!statements!
Consolidated interim 1 October- 1 October- 1 January- 1 January-
Statements of comprehensive income 31 December 31 December 31 December 31 December
Amounts in NOK 1,000 2012 2011 2012 2011
Operating income
Sales and services revenue 20 19 1 046 99
鴛禽掘掛!*!意鞄艶!壊温韓艶!鞄温厩艶稼!看韓!鍖n乙艶姻沿姻庄稼岳!
Other operating revenue 1 047 742 3 460 1 224
Total revenue 1 067 761 4 506 1 323
Operating expenses
Payroll expense 3 072 4 907 17 778 17 696
Research and development expenses 1 062 2 869 10 747 13 481
Other operating expenses 1 589 2 080 9 233 7 632
Total operating expenses 5 723 9 856 37 758 38 809
Profit (loss) before interest, tax,
depreciation and amortization (EBITDA) (4 656) (9 095) (33 252) (37 486)
Depreciation 77 72 313 245
Profit before interest and tax (EBIT) (4 733) (9 167) (33 565) (37 731)
Financial income and expenses
Interest income 58 122 208 348
Other financial income 3 28 65 66
Interest expense
Other financial expense (2) (16) (73) (38)
Net financial items 59 134 200 376
Net result before tax (4 674) (9 033) (33 365) (37 355)
Taxes
Net profit (loss) for the period (4 674) (9 033) (33 365) (37 355)
Profit (loss) per share
-basic and diluted NOK (0.02) NOK (0.03) NOK (0.12) NOK (0.15)](https://image.slidesharecdn.com/idexpresentationq42012-130306083920-phpapp01/85/Fingerprint-Biometrics-The-link-between-the-analog-and-digital-you-IDEX-9-320.jpg)
Fingerprint Biometrics - The link between the analog and digital you - IDEX
- 1. !!!!!!IDEX!ASA!Q4*2012 ! ! !!!!!!!!!!!!!!!the!link!between!the!analog!and!digital!you! THE!SAFE!HAVEN!OF!FINGERPRINT! Ralph!W.!Bernstein,!CEO! POSITIONED!FOR!THE!YEAR!OF!FINGERPRINT! BIOMETRICS! ≒ ID:!MoU!with!Chinese!partner!in!Q4! 鴛禽掘掛!*!意鞄艶!壊温韓艶!鞄温厩艶稼!看韓!鍖n乙艶姻沿姻庄稼岳! ≒ Embedded:!Deal!with!OEM!partner!in!Q4! Supply@chain!reinvigorated! Sensor!design!updated! ≒ Mobile:!Ongoing!high*level!discussions!
- 2. CONNECTIVITY!ANYTIME!AND!ANYPLACE!FOR! ANYTHING! A!massive!amount!of!new!services!and!businesses!will!become! 鴛禽掘掛!*!意鞄艶!壊温韓艶!鞄温厩艶稼!看韓!鍖n乙艶姻沿姻庄稼岳! enabled!by!biometrics! ≒ using!personal,!connected,!portable!biometric!devices!carrying! biometric!informaFon!and!a!persons!credenFals! ≒ empowering!Bring!Your!Own!Device!(BYOD),!mobile!payment,! NFC,!cloud!services,!access!control!and!much!more! POTENTIAL!MARKETS!FROM!2013! ≒ Smartphones!1.2!billion!devices!by!2015! ≒ 725!million!tabs/PC!by!2015! 鴛禽掘掛!*!意鞄艶!壊温韓艶!鞄温厩艶稼!看韓!鍖n乙艶姻沿姻庄稼岳! ≒7.7!Billion!Smart!!Cards!by!2013! ≒ 1.1!Billion!contactless!Cards!by!2013! ! ! ≒ Internet!of!Things!24!billion!units!by!2020! THE!BILLION!DOLLAR!PLAY:! !!!!!!! !$7.59!billion! !!!!!!$16.47!billion! !Value!of!exisFng!biometrics!market*! PotenFal!biometrics!market!in!2017*! ! ! *source:!Gill!
- 3. 鴛禽掘掛!*!意鞄艶!壊温韓艶!鞄温厩艶稼!看韓!鍖n乙艶姻沿姻庄稼岳! 鴛禽掘掛!*!意鞄艶!壊温韓艶!鞄温厩艶稼!看韓!鍖n乙艶姻沿姻庄稼岳!
- 4. 鴛禽掘掛!*!意鞄艶!壊温韓艶!鞄温厩艶稼!看韓!鍖n乙艶姻沿姻庄稼岳! 鴛禽掘掛!*!意鞄艶!壊温韓艶!鞄温厩艶稼!看韓!鍖n乙艶姻沿姻庄稼岳!
- 5. 鴛禽掘掛!*!意鞄艶!壊温韓艶!鞄温厩艶稼!看韓!鍖n乙艶姻沿姻庄稼岳! 鴛禽掘掛!*!意鞄艶!壊温韓艶!鞄温厩艶稼!看韓!鍖n乙艶姻沿姻庄稼岳!
- 6. 鴛禽掘掛!*!意鞄艶!壊温韓艶!鞄温厩艶稼!看韓!鍖n乙艶姻沿姻庄稼岳! 鴛禽掘掛!*!意鞄艶!壊温韓艶!鞄温厩艶稼!看韓!鍖n乙艶姻沿姻庄稼岳!
- 7. 鴛禽掘掛!*!意鞄艶!壊温韓艶!鞄温厩艶稼!看韓!鍖n乙艶姻沿姻庄稼岳! 鴛禽掘掛!*!意鞄艶!壊温韓艶!鞄温厩艶稼!看韓!鍖n乙艶姻沿姻庄稼岳!
- 8. 鴛禽掘掛!*!意鞄艶!壊温韓艶!鞄温厩艶稼!看韓!鍖n乙艶姻沿姻庄稼岳! WHY!NOW?! Why!has!鍖ngerprint!technology!adop_on!taken!_me?! ≒ Only!been!a!pin!replacement!without!added!value! ≒ No!major!integrator!has!stepped!up!unFl!Apple! 鴛禽掘掛!*!意鞄艶!壊温韓艶!鞄温厩艶稼!看韓!鍖n乙艶姻沿姻庄稼岳! Why!will!biometrics!be!among!the!hodest!industries? ! ≒ Explosion!in!mobile!payment!"mobile"payment"will"reach"$"1.3"trillion"in" 2017"Juniper"Research" ≒ PersonalizaFon!You"want"your"own"se@ngs"Bnot"your"kids"apps" ≒ Secure!payments!and!secure!banking! ≒ Pin!replacement!at!a鍖ordable!cost! ≒ You!will!鍖nd!鍖ngerprint!in!a!wide!variety!of!use!aZer!mobile!breakthrough! ≒ Internet!of!things@every!item!has!intelligence! ≒ Contactless!biometric!cards!reduces!the!risk!of!skimming! !!!!SHORTCUTS!!!!!!!!!!!!!!!NAVIGATION!!!!!!!!!!!!!!!CONVENIENCE! !!!!SECURITY !!!!!!!!!!!!!!!!AFFORDABLE! !MOBILE!PAYMENT!
- 9. IDEX!VS.!COMPETITION! ≒ IDEX!represent!the!most!complete!patent!por]olio!in!capaciFve!鍖ngerprint! sensing!technology!outside!Apple! ≒ IDEX!owns!a!鍖rst@to@鍖le!patent!por]olio!covering!key!principles!and! 鴛禽掘掛!*!意鞄艶!壊温韓艶!鞄温厩艶稼!看韓!鍖n乙艶姻沿姻庄稼岳! implementaFons!of!low*cost!鍖ngerprint!sensors! ≒ IDEX!patents!have!been!assessed!!and!veri鍖ed!in!a!liFgaFon!between!IDEX!and! UPEK!(AuthenTec)/ST!Microelectronics! ≒ IDEX!SmartFinger速!o鍖ers!unsurpassed!image!quality!and!biometric!performance! ≒ IDEX!SmartFinger速!accepts!a!wide!range!of!swipe!speeds,!direcFons!and! abnormal!鍖nger!movement! ≒ IDEXs!patented!soluFon!o鍖ers!鍖ngerprinFng!through!any!material,!including!glass! Pro鍖t!and!loss!statements! Consolidated interim 1 October- 1 October- 1 January- 1 January- Statements of comprehensive income 31 December 31 December 31 December 31 December Amounts in NOK 1,000 2012 2011 2012 2011 Operating income Sales and services revenue 20 19 1 046 99 鴛禽掘掛!*!意鞄艶!壊温韓艶!鞄温厩艶稼!看韓!鍖n乙艶姻沿姻庄稼岳! Other operating revenue 1 047 742 3 460 1 224 Total revenue 1 067 761 4 506 1 323 Operating expenses Payroll expense 3 072 4 907 17 778 17 696 Research and development expenses 1 062 2 869 10 747 13 481 Other operating expenses 1 589 2 080 9 233 7 632 Total operating expenses 5 723 9 856 37 758 38 809 Profit (loss) before interest, tax, depreciation and amortization (EBITDA) (4 656) (9 095) (33 252) (37 486) Depreciation 77 72 313 245 Profit before interest and tax (EBIT) (4 733) (9 167) (33 565) (37 731) Financial income and expenses Interest income 58 122 208 348 Other financial income 3 28 65 66 Interest expense Other financial expense (2) (16) (73) (38) Net financial items 59 134 200 376 Net result before tax (4 674) (9 033) (33 365) (37 355) Taxes Net profit (loss) for the period (4 674) (9 033) (33 365) (37 355) Profit (loss) per share -basic and diluted NOK (0.02) NOK (0.03) NOK (0.12) NOK (0.15)
- 10. Balance!sheets!@!assets! Consolidated interim balance sheets 31 December 31 December Amounts in NOK 1,000 2012 2011 ASSETS 鴛禽掘掛!*!意鞄艶!壊温韓艶!鞄温厩艶稼!看韓!鍖n乙艶姻沿姻庄稼岳! Long-term assets Fixed assets Machinery and office equipment 626 939 Total fixed assets 626 939 Financial assets Long-term receivables 332 325 Total financial assets 332 325 Total long-term assets 958 1 264 Current assets Receivables Accounts receivable 17 19 Other receivables 3 715 3 161 Prepaid expenses 512 343 Total receivables 4 244 3 523 Cash and bank deposits Cash and bank deposits 19 833 21 462 Total cash and bank deposits 19 833 21 462 Total current assets 24 077 24 985 TOTAL ASSETS 25 035 26 249 Balance!sheets!equity!and!liabiliFes! Consolidated interim balance sheets 31 December 31 December Amounts in NOK 1,000 2012 2011 鴛禽掘掛!*!意鞄艶!壊温韓艶!鞄温厩艶稼!看韓!鍖n乙艶姻沿姻庄稼岳! EQUITY AND LIABILITIES Equity Paid-in-capital Share capital 46 422 40 794 Share premium reserve 86 292 63 429 Other paid-in capital 11 235 7 409 Total paid-in-capital 143 949 111 632 Other equity (125 631) (92 266) Total equity 18 318 19 366 Liabilities Short-term liabilities Accounts payable 2 561 2 230 Public duties payable 906 471 Other short-term liabilities 3 250 4 182 Total short term liabilities 6 717 6 883 Total liabilities 6 717 6 883 TOTAL EQUITY AND LIABILITIES 25 035 26 249
- 11. 遺温壊鞄!鍖o敬!壊岳温岳艶馨艶稼岳壊! Consolidated interim 1 October- 1 October- 1 January- 1 January- cash flow statements 31 December 31December 31 December 31 December 鴛禽掘掛!*!意鞄艶!壊温韓艶!鞄温厩艶稼!看韓!鍖n乙艶姻沿姻庄稼岳! Amounts in NOK 1,000 2012 2011 2012 2011 Profit (loss) before interest and taxes (4 733) (9 167) (33 565) (37 731) Share-based remuneration (equity part) 136 1 142 3 825 4 409 Depreciation 77 72 313 245 Interest paid Change in working capital and other items (119) 329 (885) (608) Net cash flow from operational activities (4 639) (7 624) (30 312) (33 685) Purchases of property, plant and equipment (219) (552) Change in long-term receivables (7) (7) (7) (7) Interest received 49 122 199 348 Net cash provided by investing activities 42 (104) 192 (211) Share issues net of expenses 18 747 10 28 491 42 709 Net cash provided by financing activities 18 747 10 28 491 42 709 Net change in cash and cash equivalents 14 150 (7 718) (1 629) 8 813 Opening cash balance 5 683 29 180 21 462 12 649 Closing cash balance 19 833 21 462 19 833 21 462 Changes!in!equity! 鴛禽掘掛!*!意鞄艶!壊温韓艶!鞄温厩艶稼!看韓!鍖n乙艶姻沿姻庄稼岳! Consolidated interim Retained statements of changes in equity Share Share Other earnings Total Amounts in NOK 1,000 capital premium paid-in capital (uncovered loss) equity Balance 1 January 2012 40 794 63 429 7 409 (92 266) 19 366 Share issues 5 628 22 863 28 491 Share-based compensation 3 826 3 826 Total comprehensive income for the period (33 365) (33 365) Balance 31 December 2012 46 422 86 292 11 235 (125 631) 18 318 Balance 1 January 2011 32 240 29 274 3 000 (54 911) 9 603 Share issues 8 554 34 155 42 709 Share-based compensation 4 409 4 409 Total comprehensive income for the period (37 355) (37 355) Balance 31 December 2011 40 794 63 429 7 409 (92 266) 19 366