Security

Precise Biometrics’ Security Business 2022 Examined

Precise Biometrics, a Sweden-based biometric solutions provider founded in 1997. The company went public on October 3rd, 2000, with its shares listed on the Nasdaq OMX Stockholm. In this research note, we examine the financial performance and business developments achieved by Precise Biometrics over the past year based on their year-end report and ABGSC Investor Day presentation. Precise reported a 17% increase in total revenue, amounting to SEK 98.7 million ($9.4 million) for 2022, up from SEK 84.3 million ($8 million) in 2021, and net sales grew by SEK 7.7 million ($730,000) to SEK 91 million ($8.67 million) for the full-year. This growth occurred despite a 30% decrease in revenues in the last quarter of 2022 vs the same quarter the previous year. The company’s year-end report also achieved an increase in profitability, with an operating profit of SEK 10.8 million ($1 million) compared to SEK 2.2 million ($208,021) in 2021. Revenue growth can be […]

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