NEXT Biometrics Group (NEXT) Q2 2026 earnings summary

Executive summary

• Revenues in Q2 2026 were NOK 2.0 million, down from NOK 4.1 million in restated Q2 2025, reflecting continued weak order intake and delayed tenders in the government biometric sensor market.

• Adjusted gross profit margin improved to 58% from 41% in Q2 2025, mainly due to favorable product mix.

• Strategic shift announced: focus exclusively on next-generation Anywhere-on-Display technology, with outsourcing of manufacturing and sale/licensing of legacy IP.

• Significant cost reduction initiatives underway, with normalized OPEX run-rate targeted to fall from NOK 73M at the start of 2026 to NOK 45M by year-end.

• NOK 13 million in conditional convertible loan financing announced in July to support liquidity.

Financial highlights

• Q2 2026 revenues: NOK 2.0 million (Q2 2025 restated: NOK 4.1 million).

• Adjusted EBITDA: NOK -16.0 million in Q2 2026.

• Loss after taxes: NOK 28.0 million in Q2 2026 (Q2 2025 restated: NOK 17.9 million).

• Cash position as of 30 June 2026: NOK 13.5 million (30 June 2025: NOK 22.1 million).

• Inventory write-downs of NOK 3.4 million impacted cost of materials.

Outlook and guidance

• No specific revenue guidance for 2026; performance will be measured against OPEX reduction, inventory/IP conversion, and delivery of MWC demonstration.

• Further OPEX reductions expected, with normalized annual run-rate targeted at NOK 45 million by January 2027, and potentially NOK 35-40 million if outsourcing/licensing initiatives succeed.

• Monetization of legacy business and transition to IP licensing model are key priorities.

• Physical samples for Anywhere-on-Display expected in October, with proof-of-concept demo at MWC Barcelona in February 2027.