NEXT BIOMETRICS GROUP ASA
Sector unknown·NEXT · Oslo Børs·Fiscal year to 31/12/2024
Exposure profile
Derived from what the company itself writes. Empty directions mean the report doesn't mention themes of that type.
In their own words
Grouped by theme, from the management review in the annual report. A · The company itself is a verbatim quote, B · From the report is without a verified quote.
Public sector
End markets
DriverPositive impact: strengthens
“This momentum was driven by the generational security upgrade of Aadhaar, triggering vendors to upgrade devices and verify the compliance of integrations.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“Our work in India in 2024 continued in line with our plans until late Q4, when the UIDAI (Unique Identity Authority of India) placed a temporary ban on the enrollment of all new L1 devices. The UIDAI’s ban followed a security incident at a competitor and did not concern NEXT’s technology. However, the pause had a knock-on effect for all vendors with Aadhaar compliance as it was effective until all vendors have undergone further testing. This delayed NEXT’s deliveries and resulted in heavily reduced revenues in the fourth quarter.”
Annual report 2024A · The company itself
DriverPositive impact: strengthens
“In China, one short-term goal for 2024 was for NEXT’s FAP20 sensor to become China-ID certified. Like India’s Aadhaar system, without this certification we cannot penetrate the most attractive business segments. At the start of 2024, NEXT received its China ID certification and it also expanded its footprint to the medical insurance, healthcare and access control markets.”
Annual report 2024A · The company itself
Market
“NEXT Biometrics at a glance NEXT provides advanced fingerprint sensor technology that delivers uncompromised security and accuracy for the best possible user experience in the banking & finance, government ID, access control and laptop & notebook market areas.”
Annual report 2024A · The company itself
Market
“The company has a diversified customer base, which includes Biometric technology companies, POS manufacturers, biometric HW manufacturers and Government ID providers.”
Annual report 2024A · The company itself
Market
“To provide a wider view of our work, I have highlighted a few achievements on a more strategic level below. - In 2024, we signed a Memorandum of Understanding (MoU) with NEXT’s long-term partner ACPL to jointly develop a new product which targets the growing government ID market and different national ID programs in Asia, South America, and Africa.”
Annual report 2024A · The company itself
Market
“The Group has developed products, established its manufacturing platform and sales and marketing to establish a business with significant footprint and customers in key markets such as Banking & Finance, Government ID, Access control, Laptops, and POS solutions.”
Annual report 2024A · The company itself
Automotive
End markets
StrategyPositive impact: strengthens
“We are also continuing to develop our offering in the PC and Laptop segments, initially through adding one of our Partner’s touchpad products alongside our own. Our vision for the future is to develop and sell a new fingerprint touchpad product of our own.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Moreover, the roadmap also contains a new product that targets the smartphone market. The planned smartphone product includes fingerprint authentication on the full display screen of a phone.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Within R&D, NEXT recently presented a new project which uses NEXT Active Thermal technology to enable fingerprint authentication on a full display screen. This is an innovation that many market segments like smartphone and access markets have attempted to achieve for a long time without success. This project will benefit both our existing product portfolio, in addition to enabling us to target a vast new market.”
Annual report 2024A · The company itself
Market
“NEXT Biometrics at a glance NEXT provides advanced fingerprint sensor technology that delivers uncompromised security and accuracy for the best possible user experience in the banking & finance, government ID, access control and laptop & notebook market areas.”
Annual report 2024A · The company itself
Market
“In the Laptop market the Group is working to increase the run rate revenues from existing clients.”
Annual report 2024A · The company itself
Market
“The Group has developed products, established its manufacturing platform and sales and marketing to establish a business with significant footprint and customers in key markets such as Banking & Finance, Government ID, Access control, Laptops, and POS solutions.”
Annual report 2024A · The company itself
Banks and insurance
End markets
Market
“NEXT Biometrics at a glance NEXT provides advanced fingerprint sensor technology that delivers uncompromised security and accuracy for the best possible user experience in the banking & finance, government ID, access control and laptop & notebook market areas.”
Annual report 2024A · The company itself
Market
“Typical use cases for FAP30 include government and national ID programs, access control and corporate applications.”
Annual report 2024A · The company itself
Market
“Our growth in India was characterized by an increase in the number of outstanding tenders, especially in the banking and finance sectors. This momentum was driven by the generational security upgrade of Aadhaar, triggering vendors to upgrade devices and verify the compliance of integrations.”
Annual report 2024A · The company itself
Market
“The Group has developed products, established its manufacturing platform and sales and marketing to establish a business with significant footprint and customers in key markets such as Banking & Finance, Government ID, Access control, Laptops, and POS solutions.”
Annual report 2024A · The company itself
Market
“Key 2024 developments in NEXT: - Revenues for 2024 of NOK 71.6 million compared to NOK 34.4 million in 2023 - Gross profit of 55% for 2024 compared to 21% in 2023 - Adjusted gross profit of 55% for 2024 compared to 33% in 2023 - Adjusted EBITDA of NOK -35.1 million in 2024 compared to NOK -43.7 million in 2023 - 18 new design-wins in 2024 and accumulated 64 design-wins as per December 2024, which will contribute to future revenues - Break-through in China with launch of new China ID product and FAP30 engineering samples demonstrated to partners and customers 1 Please see section Alternative Performance measures on page 80 for further details”
Annual report 2024A · The company itself
Market
“This MoU is of strategic importance for NEXT. Not only does it ensure the market introduction of the FAP30 sensor, but the device will also target attractive sectors, such as the law enforcement and banking industries in Europe and South Africa, as well as the growing MOSIP (Modular Open Source Identity Platform) market in Asia and Africa.”
Annual report 2024A · The company itself
Asia and emerging markets
Geography
StrategyPositive impact: strengthens
“To provide a wider view of our work, I have highlighted a few achievements on a more strategic level below. - In 2024, we signed a Memorandum of Understanding (MoU) with NEXT’s long-term partner ACPL to jointly develop a new product which targets the growing government ID market and different national ID programs in Asia, South America, and Africa. The MoU includes a commitment by ACPL to place purchase orders amounting to at least 35 MNOK over a period of 18 months.”
Annual report 2024A · The company itself
Geography
“India and China were our largest geographical markets in 2024. Our growth in India was characterized by an increase in the number of outstanding tenders, especially in the banking and finance sectors.”
Annual report 2024A · The company itself
Geography
“Not only does it ensure the market introduction of the FAP30 sensor, but the device will also target attractive sectors, such as the law enforcement and banking industries in Europe and South Africa, as well as the growing MOSIP (Modular Open Source Identity Platform) market in Asia and Africa.”
Annual report 2024A · The company itself
Geography
“NEXT Biometrics Group ASA is headquartered in Oslo, with sales, support, and development operations in Seattle, Taipei, Tokyo, New Delhi and Shanghai.”
Annual report 2024A · The company itself
Retail
End markets
Market
“The products are used in various applications such as point of sales terminals (POS), readers, Notebooks and Access solutions.”
Annual report 2024A · The company itself
Market
“In addition to the market segments mentioned above, NEXT is also targeting customers in the point of sale and fintech segments in China.”
Annual report 2024A · The company itself
Market
“The focus in these markets is to replace current installed base of bulky and expensive optical fingerprint products.”
Annual report 2024A · The company itself
Market
“The Group has developed products, established its manufacturing platform and sales and marketing to establish a business with significant footprint and customers in key markets such as Banking & Finance, Government ID, Access control, Laptops, and POS solutions.”
Annual report 2024A · The company itself
Chains in: Consumer spending strengthens
Medical devices
Technology
StrategyPositive impact: strengthens
“- Another important development during 2024 was securing NEXT’s first design-win in the touchpad sector.”
Annual report 2024A · The company itself
Market
“NEXT Biometrics at a glance NEXT provides advanced fingerprint sensor technology that delivers uncompromised security and accuracy for the best possible user experience in the banking & finance, government ID, access control and laptop & notebook market areas.”
Annual report 2024A · The company itself
Market
“The customer’s end-user product is a medical keyboard aimed at industrial use, with NEXT supplying the customer with fingerprint modules and touchpads for the keyboard.”
Annual report 2024A · The company itself
Chains in: Ageing population strengthens
Artificial intelligence
Technology
DriverPositive impact: strengthens
“NEXT’s business risk may be summarized in: a - NEXT currently has higher costs than revenues and has negative cash flow from operations. b - NEXT’s business plan assumes additional revenue from existing and new products under development. c - Revenue from NEXT’s products depends, among other things, on market factors which are not controlled by NEXT. d - Competing companies’ products have entered the commercial stage, and the competitive situation for NEXT’s products is constantly changing. e - NEXT’s intended markets are undergoing rapid technological changes.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“In 2024, we continued our focus on research and development, continuing to lead on biometric innovation.”
Annual report 2024A · The company itself
Chains out: this strengthens Data centres, strengthens Semiconductors and electronic components, strengthens Semiconductor industry
Defence industry
End markets
Market
“Typical use cases for FAP30 include government and national ID programs, access control and corporate applications.”
Annual report 2024A · The company itself
Market
“Following product demonstrations, we have inked a multi-year MoU for the FAP30, valued at approximately 18 MNOK per year.”
Annual report 2024A · The company itself
Chains in: Defence budgets strengthens
Healthcare and hospitals
End markets
Market
“At the start of 2024, NEXT received its China ID certification and it also expanded its footprint to the medical insurance, healthcare and access control markets.”
Annual report 2024A · The company itself
Market
“Biometric technology is used in Laptop and Governmental projects and businesses have deployed the technology in medical services, devices for financial inclusions such as pension payments, point of sale devices (POS), office and facility access, voting registration and time and attendance solutions.”
Annual report 2024A · The company itself
Chains in: Ageing population strengthens, GLP-1 and obesity treatment mixed effect
Latin America
Geography
StrategyPositive impact: strengthens
“To provide a wider view of our work, I have highlighted a few achievements on a more strategic level below. - In 2024, we signed a Memorandum of Understanding (MoU) with NEXT’s long-term partner ACPL to jointly develop a new product which targets the growing government ID market and different national ID programs in Asia, South America, and Africa.”
Annual report 2024A · The company itself
Geography
“In the Americas, NEXT has two distributors covering US, Mexico and Brazil.”
Annual report 2024A · The company itself
Cybersecurity (products and services)
Technology
StrategyPositive impact: strengthens
“The solution’s strong Liveness features – the sensor’s ability to detect real fingers and stop fake fingers from authenticating – have driven strong interest from the market.”
Annual report 2024A · The company itself
Chains in: Cyber attacks and IT security risk strengthens
Chains out: this strengthens Digitalisation
Digital payments and fintech
Technology
Market
“In addition to the market segments mentioned above, NEXT is also targeting customers in the point of sale and fintech segments in China.”
Annual report 2024A · The company itself
Energy efficiency
Technology
StrategyPositive impact: strengthens
“NEXT Biometrics is a pioneer in the field of Active Thermal® technology. NEXT’s unique Active Thermal® technology offers high-security authentication using ultra-thin sensors with high image quality and low energy consumption.”
Annual report 2024A · The company itself
Chains in: Carbon tax and ETS prices strengthens, EU climate and energy policy strengthens
Industrial manufacturing
End markets
Market
“The company has a diversified customer base, which includes Biometric technology companies, POS manufacturers, biometric HW manufacturers and Government ID providers.”
Annual report 2024A · The company itself
Semiconductors and electronic components
Raw materials and inputs
Market
“The company has a diversified customer base, which includes Biometric technology companies, POS manufacturers, biometric HW manufacturers and Government ID providers.”
Annual report 2024A · The company itself
Chains in: Artificial intelligence strengthens
Contract manufacturers as a business (EMS, CMO, CRO)
End markets
InputNegative impact: weakens
“NEXT has established outsourced production with strong partners in Asia with proven ability to produce large volumes of high quality and robust sensors for mass market deployment, which is highly recognized and appreciated by existing and potential new customers.”
Annual report 2024A · The company itself
Chains in: Biotech and drug development strengthens
Business cycle and GDP growth
Macro
DriverPositive impact: strengthens
“NEXT’s business risk may be summarized in: a - NEXT currently has higher costs than revenues and has negative cash flow from operations. b - NEXT’s business plan assumes additional revenue from existing and new products under development. c - Revenue from NEXT’s products depends, among other things, on market factors which are not controlled by NEXT. d - Competing companies’ products have entered the commercial stage, and the competitive situation for NEXT’s products is constantly changing. e - NEXT’s intended markets are undergoing rapid technological changes.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“We expect the overall business environment and momentum in our key markets, such as China, to be slow in the first half of the year. We expect business conditions to pick-up pace, however, and be strong in the second half of the year.”
Annual report 2024A · The company itself
Chains out: this strengthens Global trade volumes, strengthens Construction
Digitalisation
Technology
DriverPositive impact: strengthens
“NEXT’s business risk may be summarized in: a - NEXT currently has higher costs than revenues and has negative cash flow from operations. b - NEXT’s business plan assumes additional revenue from existing and new products under development. c - Revenue from NEXT’s products depends, among other things, on market factors which are not controlled by NEXT. d - Competing companies’ products have entered the commercial stage, and the competitive situation for NEXT’s products is constantly changing. e - NEXT’s intended markets are undergoing rapid technological changes.”
Annual report 2024A · The company itself
Chains in: Cybersecurity (products and services) strengthens, Public investment and infrastructure strengthens
Chains out: this strengthens IT consulting and public-sector IT
Geopolitical uncertainty
Macro
DriverPositive impact: strengthens
“In China, security remains a strong market driver and being the world’s most biometrics enabled country, the interest in our FAP20 sensor, including our liveness feature, has been strong.”
Annual report 2024A · The company itself
Chains out: this strengthens Defence budgets, strengthens Energy security, strengthens Tariffs and trade policy, weakens Global trade volumes, strengthens Sea freight and freight rates, weakens Reconstruction of Ukraine
Europe
Geography
Geography
“Not only does it ensure the market introduction of the FAP30 sensor, but the device will also target attractive sectors, such as the law enforcement and banking industries in Europe and South Africa, as well as the growing MOSIP (Modular Open Source Identity Platform) market in Asia and Africa.”
Annual report 2024A · The company itself
Geography
“NEXT Biometrics Group ASA is headquartered in Oslo, with sales, support, and development operations in Seattle, Taipei, Tokyo, New Delhi and Shanghai.”
Annual report 2024A · The company itself
United States
Geography
Geography
“In the Americas, NEXT has two distributors covering US, Mexico and Brazil. The focus in these markets is to replace current installed base of bulky and expensive optical fingerprint products.”
Annual report 2024A · The company itself
Geography
“NEXT Biometrics Group ASA is headquartered in Oslo, with sales, support, and development operations in Seattle, Taipei, Tokyo, New Delhi and Shanghai.”
Annual report 2024A · The company itself
Chains in: USD vs DKK/EUR mixed effect
China
Geography
Geography
“India and China were our largest geographical markets in 2024.”
Annual report 2024A · The company itself
Consumer spending
Macro
DriverPositive impact: strengthens
“NEXT’s business risk may be summarized in: a - NEXT currently has higher costs than revenues and has negative cash flow from operations. b - NEXT’s business plan assumes additional revenue from existing and new products under development. c - Revenue from NEXT’s products depends, among other things, on market factors which are not controlled by NEXT. d - Competing companies’ products have entered the commercial stage, and the competitive situation for NEXT’s products is constantly changing. e - NEXT’s intended markets are undergoing rapid technological changes.”
Annual report 2024A · The company itself
Chains in: Inflation weakens
Chains out: this strengthens Retail, strengthens Hospitality and leisure, strengthens Premium consumers, strengthens Grocery retail and private label
Interest rates
Macro
DriverMixed impact: mixed
“NEXT is exposed to certain financial risks related to exchange rates and interest levels.”
Annual report 2024A · The company itself
Chains in: Public debt and fiscal policy strengthens, Inflation strengthens
Chains out: this weakens Construction, weakens Real estate, weakens Wind power, weakens Housing market, weakens Office and commercial property, weakens Residential rental, weakens Residential construction
USD vs DKK/EUR
Macro
DriverMixed impact: mixed
“NEXT is exposed to certain financial risks related to exchange rates and interest levels.”
Annual report 2024A · The company itself
Chains out: this mixed effect United States
Competitors mentioned in the report
No named competitors in the report.
Financial figures
| Revenue latest fiscal year | 0.07 bn NOK |
| Revenue growth vs. the year before, same method | 108.2 % |
| EBITDA reported by the company | -0.04 bn NOK |
| Net debt debt incl. leasing minus cash | N/A |
| Diluted EPS per share | -0.42 NOK |
Source: annual report (ESEF) A. See the report
Criteria
| Profit | ✗ |
| Growing | ✓ |
| Healthy balance sheet | N/A |
Only the criteria that can be computed from financial statements on this page. The remaining criteria (such as price and dividend) need a share price and are in the analysis.
Figures are in the report's currency (NOK), not converted to DKK. Quotes are shown as the company's own words in the report's original language.