NEXT Biometrics : Report (NEXT Biometrics Quarterly Report Q1 2026)

About this update from Next Biometrics Group Asa

NEXT Biometrics Group ASA Quarterly report - Q1 2026 Highlights Revenues of NOK 1.8 million in Q1 2026, compared to NOK 3.0 million in restated Q1 2025 Adjusted gross profit margin of 40%, compared to 55% in restated Q1 2025 Adjusted EBITDA of NOK -15.8 million in Q1 2026 Cash position of NOK 6.7 million as of 31 March 2026, compared to NOK 39.9 million as of 31 March 2025 Received FBI certification for NEXT Granite, FAP30 Sensor Continued progress in strategic technology development FoD project, with key technical milestones achieved during the quarter, 2nd patent received and signed LOI and selected Giant Plus as partner Announced terms of the rights issue and bridge loan financing in March 2026, supporting liquidity and continued execution of the business plan (see separate section below for additional information) A message from our CEO NEXT has, so far this year, experienced significantly lower than expected order intake and cash-inflow, resulting in a shortened liquidity runway. That being said, with the geopolitical climate slowing projects and decision-making industry-wide, the Company has started to explore strategic options for the core fingerprint sensor business. The lowered sales make immediate cost reductions necessary to lower fingerprint sensor business operating expenses. As a part of the strategic review process, the Company will also explore partnerships and/or a licensing agreement in respect of all or parts of its fingerprint sensor business. The Company rather aims to be able to focus on and allocate a lean operation to the Anywhere-on-display project, which the Company considers having greater potential than the fingerprint sensor business. We continue to invest in innovation to secure our long-term leadership. Our Anywhere-on Display biometric authentication technology represents a significant strategic initiative, supported by strong intellectual property and a partnership with a leading display manufacturer. The Anywhere-on Display project has the potential to drive transformative changes across the biometric and display market. NEXT's two new US patents secure core intellectual property and early interest from selected industry leaders, in the Group's opinion confirming the technology's groundbreaking potential. Technology development is on track to demonstrate the prototype, which is likely to trigger interest from several majo...

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