Fingerprint Cards (FING) Q2 2025 earnings summary

Executive summary

• Revenue grew 40% year-over-year in Q2 2025 and 66% for H1, driven by strong demand for biometric authentication and successful asset monetization, reflecting effective execution of the transformation plan.

• Gross margin was 48.1% in Q2 and 53% for the first half, showing improvement and stability compared to previous years.

• Asset monetization included a SEK 24 million deal with Egis Technology, providing upfront cash and ongoing royalty streams to support future investments.

• Operational efficiency improved through a 59% year-over-year headcount reduction and adoption of AI tools, balancing OpEx control with targeted growth investments.

• Launched initial decentralized biometric authentication product via Identity Cloud partnership and expanded commercial capacity.

Financial highlights

• Q2 2025 revenue: SEK 15.7M (up 40% year-over-year); H1 2025 revenue: SEK 33.9M (up 66%).

• Gross margin: 48.1% in Q2, 53% for the first half.

• EBITDA improved to SEK -20.3M in Q2 (from -57.6M); free cash flow was SEK -18.4M.

• Cash and equivalents at SEK 32.7M at quarter end, with SEK 24M from asset monetization expected.

• Headcount down 49% sequentially, 59% year-over-year, with headcount comprising two-thirds of OpEx.

Outlook and guidance

• Focus on achieving positive EBITDA and free cash flow through disciplined cost management and targeted growth investments.

• Gross margin expected to remain above 50% for the year, with a target to approach 60% as product mix shifts toward higher-margin offerings.

• Strategic partnerships, asset monetization, and new product launches to drive new revenue streams and financial flexibility.

• Reverse share split planned for Q3 2025 to optimize share structure and support growth initiatives.