IDEX Biometrics ASA (Euronext Oslo Børs: IDEX) today provides a business
update for the third quarter of 2026 and to date. IDEX has received its
largest IDEX Access order to date, a purchase order ("PO") of more than USD
450,000 from a channel partner. Preliminary Q3 2026 revenue was approximately
NOK 6.6 million, around four times the Q2 2026 level, and IDEX reiterates its
H2 2026 outlook, with execution according to plan.
Multiple POs and Largest IDEX Access order to date
Since the Q2 2026 report on 20 August 2026, IDEX has received several POs for
IDEX Access. These include a PO of more than USD 450,000 for complete IDEX
Access Cards from one of IDEX's channel partners, for end use in the energy
and retail sectors in Europe and APAC. Complete cards carry meaningfully
higher average selling prices and gross margins than sensor-only sales.
Deliveries are scheduled to start in Q4 2026. Please refer to the separate
announcement published today.
Preliminary Q3 2026 revenue of approximately NOK 6.6 million
Preliminary, unaudited revenue for Q3 2026 was approximately NOK 6.6 million,
compared with NOK 1.6 million in Q2 2026. Revenue was below the more than NOK
8.5 million indicated in the Q2 2026 report, as deliveries scheduled for late
Q3 are shipping in October. The NOK 23.7 million order backlog reported at the
end of Q2 2026 is unchanged and fully committed for delivery in H2 2026. New
orders, including part of the PO, add to H2 2026 revenue.
Pilot base intact; further orders expected in Q4
No pilots have been discontinued to date. Management's estimate of more than
NOK 20 million in combined initial PO potential across the pilot base, as
reported in August 2026, is unchanged. IDEX expects further orders from its
pilot base and channel partners during Q4 2026.
Joint go-to-market planning under way with core channel partners
IDEX is in active discussions and joint planning with its core group of
channel partners, covering go-to-market plans, target segments and which
customers to approach first. Partner interest continues to build, and since
the Q2 2026 report IDEX has made significant efforts to get our core channel
partners ready across APAC, Europe and US. Activating partners requires
significant commercial effort up front, but it is the foundation for scale:
once a partner is selling, IDEX reaches the partner's established customer
base without adding fixed cost.
IDEX Pay: first Indian bank launch in Q4
The commercial launch with IDEX's first Indian bank customer is now expected
in Q4 2026, following a delay in a technical integration on the customer side.
Additional Indian banks are in pilot and pipeline phases.
Strengthened commercial and finance team
Effective 1 October 2026, IDEX has strengthened its team with Victoria Allers
Wismer as Chief Marketing Officer, Bianca Olsson as Head of Brand and
Christian Fredrik Hodt as VP Finance, reporting to CFO Ingvill Tømt.
Other
Executive Chair Anders Storbråten will give a keynote at Sikkerhetsdagen in
Lillestrøm on 8 October 2026.
Outlook
IDEX reiterates the H2 2026 outlook provided in its Q2 2026 report and is
executing according to plan. The Company expects a step-up in order intake and
revenue in H2 2026, as the committed backlog is delivered and new orders are
added. Demand for hardware-rooted, phishing-resistant authentication continues
to be supported by the rise in AI-enabled attacks on software-based security
and by active enforcement of NIS2 and DORA across the EU.
With this update and the separate announcement of the IDEX Access order, the
Company considers the market updated on its development. IDEX will publish its
Q3 2026 results on 12 November 2026.
IDEX
Identify yourself as a human
Contacts
Anders Storbråten, Executive Chairman, Tel: +47 416 38 582
E-mail: ir@idexbiometrics.com
About Us
IDEX Biometrics ASA (OSE: IDEX) develops and makes fingerprint biometric cards
for access control, digital identity and payment. By authenticating identity
through fingerprint biometrics rather than passwords, PINs or traditional
credentials, IDEX enables secure and convenient access to physical and digital
services. Fingerprint matching happens directly on the card, offline and
without transmitting biometric data. Certified by Visa, Mastercard, FIDO2 and
EAL6+, and backed by more than 250 patents and over USD 350 million invested
in R&D, IDEX serves banks, enterprises and public sector organizations
directly and through channel partners worldwide.
For more information, visit www.idexbiometrics.com
(http://www.idexbiometrics.com/)
and through channel partners worldwide.\
\
For more information\, visit www.idexbiometrics.com\
(http://www.idexbiometrics.com/)\