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NEXT Biometrics Group (NEXT) investor relations material
NEXT Biometrics Group Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary20 Aug, 2025
Executive summary
Q2 2025 results were impacted by revenue restatements and compliance adjustments, mainly due to irregularities and reversals in China, with no immediate cash impact but significant accounting changes.
Adjusted revenues for Q2 2025 were NOK 4.3 million, down from NOK 18.3 million in Q2 2024, with reported revenues negative due to China-related adjustments.
Six new design wins in Q2 2025 brought the year-to-date total to 12 and total integrations to 76, meeting annual targets and indicating growing market traction.
Launched FAP30 NEXT Granite Sensor and FAP20 NEXT Basalt L1 Slim, targeting government ID, enrollment, and POS markets, with significant new orders and a NOK 18 million annual MoU.
Initiated review of M&A opportunities to position as a biometrics solutions consolidator and drive future growth.
Financial highlights
Adjusted gross margin dropped to 39% in Q2 2025 from 57% in Q2 2024, mainly due to product mix and lower-margin shipments.
Adjusted EBITDA was NOK -14.2 million in Q2 2025, compared to NOK -6.7 million in Q2 2024, reflecting lower revenues and higher costs.
Cash at end of Q2 2025 was NOK 22.1 million, down from NOK 39.9 million at Q1 2025 end and NOK 40.9 million a year earlier.
Net cash flow from operating activities was negative NOK 16.4 million in Q2 2025, mainly due to operating losses.
Payroll expenses increased to NOK 9.7 million in Q2 2025, up from NOK 5.8 million in Q2 2024, mainly due to share-based remuneration costs.
Outlook and guidance
Significant revenue growth is expected in Q3 and Q4 2025 as India and China markets recover, with recurring quarterly revenues of NOK 25–30 million targeted by Q4 2025/Q1 2026.
Combined revenue streams projected to approach NOK 50 million per quarter during 2026, driven by structural demand and product portfolio strength.
Anticipates being cash positive in Q4 2025, supported by a healthy revenue pipeline and improved credit processes.
Short-term priorities include releasing working capital, completing customer projects, and scaling up deliveries.
Market normalization and sustained execution anticipated to fully realize the current revenue pipeline in 2026.
Assess impact of China irregularities on 2025.
Explain rationale for M&A opportunity review.
What is the timeline for India revenue rebound?
China revenue irregularity prevention measures
FAP30's strategic role in market expansion?
How to achieve NOK 50M quarterly revenue by 2026?
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Next NEXT Biometrics Group earnings date
Q3 20255 Nov, 2025
Next NEXT Biometrics Group earnings date
Q3 20255 Nov, 2025
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Frequently asked questions
Next Biometrics Group ASA designs and develops fingerprint sensors for use in smart cards, access control, government identification, biometric passports, and note books. The company provides sensor modules, as well as develops software and hardware development kits for modules. Its products also comprise flexible subassemblies used in various applications that include biometric readers, government ID cards, payment terminals, and access control badges. In addition, the company provides professional services comprising project management, assurance testing and certification of products. It serves original equipment manufacturers, contract manufacturers and component distributors internationally. The company was formerly known as NEXT ASA and changed its name to Next Biometrics Group ASA in May 2012. Next Biometrics Group ASA is based in Oslo, Norway.
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