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IDEX Biometrics (IDEX) investor relations material
IDEX Biometrics Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Operating expenses (excluding cost of materials and depreciation) reduced by 52% year-over-year for the first half of 2025, reflecting significant cost-cutting initiatives.
Staff reduced to 30 FTEs by end of Q2 2025, down from 59 a year earlier, driving a 72% year-over-year reduction in compensation and benefits.
Management changes include consolidation of CEO and CFO roles and appointment of a new COO.
Launched the world’s first biometric payment card with EBL and Mastercard in Bangladesh, with positive market feedback and expected further orders.
Financial highlights
Q2 2025 revenue was $0.1 million, down from $0.3 million in Q2 2024.
Net loss for Q2 2025 was $2.1 million, a significant improvement from $6.7 million in Q2 2024.
Gross margin on products sold in Q2 2025 was 29%.
Cash balance at June 30, 2025, was $1.0 million, down from $2.1 million a year earlier.
Net working capital at June 30, 2025, was $2.7 million, down from $6.6 million at June 30, 2024.
Outlook and guidance
New Access and Pay products are on track for release in Q3 and Q4 2025, with positive initial customer feedback and several LOIs signed.
Operational improvements target a quarterly OPEX run rate of $1.5–1.7 million by end of Q3 2025.
Board assumes revenue generation in Q3 and Q4 2025, but acknowledges significant going concern risk.
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