Idex Biometrics Asa · OSL:IDEX
Idex Biometrics Asa — Arctic Securities – 21 May 2025
19 slides from Idex Biometrics Asa's conference presentation, May 21, 2025
Slide 1: Company update – Arctic Securities – 21 May 2025
Company update Arctic Securities – 21 May 2025
Slide 2: Disclaimer
Disclaimer This presentation includes forward-looking information and statements that are subject to risks and uncertainties that could cause actual results to differ. Such forward-looking information and statements are based on current expectations, estimates and projections about global economic c
Slide 3: Welcome
Welcome Anders Storbråten Chief Executive Officer Education: • MSc in Industrial Engineering and Technology (Indøk) at NTNU in Trondheim, Norway • Royal Institute of Art & Technology (KTH) Stockholm Sweden Professional experience: • Investment banker at the technology teams of JPMorgan and Goldman S
Slide 4: My investment case for IDEX
My investment case for IDEX • IDEX has world class technology in place – High barriers to entry • Approximately $350M invested • A bet on Pay that have not materialised yet • Opportunity to pivot – use the same technology to launch a world class access product line • The access market is fragmented
Slide 5: What have we achieved (since March 2025)
What have we achieved (since 11 March 2025) • Right size cost base – Full effect Q3 ($1.5-1.7M range) – Opex flexibility in 2026 • Refinanced Heights convertible – NOK66.4 – 25% NOK49.9M – 50% NOK33.3M • Capital discipline – ROI in everything we do – No “free” work • Improved employee accountability
Slide 6: Proof of identity is a top concern locally and globally
Proof of identity is a top concern locally and globally Microsoft’s MFA Strategy Microsoft´s MFA Strategy • MFA can block over 99.2% of account compromise attacks, https://nsm.no/fagomrader/digital -sikkerhet/nasjonalt- according to Microsoft research cybersikkerhetssenter/varsler-fra- ncsc/nsm-anbe
Slide 7: IDEX access products are world class – The card form factor
IDEX access products are world class – The card form factor Copyright © 2025 IDEX Biometrics ASA. All Rights Reserved. Confidential. 7
Slide 8: IDEX access offer customers a 10x increase in security level and user-friendliness
IDEX access offer customers a 10x increase in security level and user-friendliness “One-Step” multifactor authentication – delivered in the card form factor you already have Copyright © 2025 IDEX Biometrics ASA. All Rights Reserved. Confidential. 8
Slide 9: ID and access-cards have not materially changed (and not secure)
ID and access-cards have not materially changed (and not secure) Logical Access (FIDO) Physical Access The main upgrade – ID-cards have been moved over to the mobile – without making it more secure or user friendly Copyright © 2025 IDEX Biometrics ASA. All Rights Reserved. Confidential. 9
Slide 10: How IDEX Access card outperform mobile applications in physical access
How IDEX Access card outperform mobile applications in physical access Side by side comparison Biometrically protected Completely offline (no attack surface) Suitable for Physical + Digital MFA Suitable as a visible employee badge Quick Easy to deploy Allowed in all environments Battery-less Taking
Slide 11: How IDEX Access card outperform USB security keys in digital access
How IDEX Access card outperform USB security keys in digital access Side by side comparison Biometrically protected Suitable for dual access incl physical Suitable as a visible employee badge One step ”tap-to-login” (no pin) USB port friendly Copyright © 2025 IDEX Biometrics ASA. All Rights Reserved
Slide 12: IDEX Access card – Solving customers needs – in the best form factor
IDEX Access card – Solving customers needs – in the best form factor Absolutely trusted login to devices, Eliminated friction and risks with Prevention of phishing and other web, systems and apps PINs and passwords cyber attacks Helpdesk efficiency (no password Reinforcement of GDPR and other Incide
Slide 13: Copyright © 2025 IDEX Biometrics ASA. All Rights Reserved. Confidential.
Copyright © 2025 IDEX Biometrics ASA. All Rights Reserved. Confidential. 13
Slide 14: To illustrate the demand for digital access products
To illustrate the demand for digital access products Yubico has increased sales from SEK10m to SEK 2.3bn in 10 years Product offering – USB Revenues (SEKm) 2500 250% 2000 200% 1500 150% 1000 100% 500 50% 0 0% 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Revenues Growth Copyright © 202
Slide 15: The growth of FIDO will continue to drive the digital access market
The growth of FIDO will continue to drive the digital access market Fast Identity Online (FIDO) Authentication Global Market Report 2025 (USDbn) 5.72 +24.4% 2.39 1.93 2024 2025 2026 2027 2028 2029 Copyright © 2025 IDEX Biometrics ASA. All Rights Reserved. Confidential. 15
Slide 16: Pay the right way
Pay the right way Bangladesh Japan India NEWS: “EBL will be First order launched in Q1 Apple investments in launching the world's first 2025 India, Apple Pay is the metal biometric card this main lobbyist summer” Copyright © 2025 IDEX Biometrics ASA. All Rights Reserved. Confidential.
Slide 17: IDEX go to market
IDEX go to market Direct Channel partners With IDEX sales representatives IT service providers, IT consulting, resellers of IT equipment and software Dedicated efforts to deliver customer journeys that will cater to inbound traffic on the web Copyright © 2025 IDEX Biometrics ASA. All Rights Reserved
Slide 18: IDEX is open for business
IDEX is open for business IDEX Digital Access Card IDEX Total Access Card Copyright © 2025 IDEX Biometrics ASA. All Rights Reserved. Confidential. 18
Slide 19: Outlook and financial targets
Outlook and financial targets • Opex – target runrate $1.5-$1.7 in Q3 • Breakeven during Q4 2025 (a few hundred thousand cards on an annual basis) Copyright © 2025 IDEX Biometrics ASA. All Rights Reserved. Confidential. 19