NEXT Biometrics Q1 Update

11 Apr 2025 06:30 CEST

NEXT Biometrics, reports NOK 7 million in booked revenue in Q1 2025 far below
forecast. The shortfall is due to multiple reasons. The most important is the
temporary stop in the Aadhaar program in India, as previously communicated.

NEXT and a few other competitors were re-certified as expected, but approval of
NEXT sensors was delayed until early March. Even though this situation is
creating clear long-term advantages for NEXT, with improved market share due to
fewer competitors, normal business did not resume before the end of the quarter.
This affected not only our Indian customers but also some of our customers based
in China who target the Indian market with their end products.

In addition to the above, NEXT has withheld several deliveries in Q1 to some
customers to strengthen the commercial terms. There is every reason to believe
this is a long-term viable strategy.

NEXT has a robust long-term sales pipeline exceeding NOK 400 million of which
NOK 69 million are planned deliveries in Q2/Q3 combined, providing solid
visibility into the two upcoming quarters with gross margins above 50%. Several
high-potential deals are in advanced stages and expected to close in the near
term.

The company will publish its annual report today, further detailing and
explaining the company’s outlook. NEXT will publish the Q1 report on May 14th.

This information in this stock exchange announcement is considered to be inside
information pursuant to the EU Market Abuse Regulation and is published in
accordance with section 5-12 the Norwegian Securities Trading Act.

For more information, please contact
Ulf Ritsvall, CEO, NEXT
ulf.ritsvall@nextbiometrics.com

Eirik Underthun, CFO, NEXT
eirik.underthun@nextbiometrics.com

About NEXT Biometrics
NEXT provides advanced fingerprint sensor technology that delivers uncompromised
security and accuracy for the best possible user experience in the payment and
fintech, government ID, access control and office and notebook markets. The
company’s patented NEXT Active Thermal ® principle allows the development of
large, high-quality fingerprint sensors with superior security level. NEXT
Biometrics Group ASA is headquartered in Oslo, with sales, support, and
development operations in Seattle, Taipei, Tokyo, New Delhi and Shanghai.

This stock exchange announcement was published by Eirik Underthun, CFO at NEXT
Biometrics Group ASA, on 11 April 2025, at 06:30 hours (CEST).

More information:
Access the news on Oslo Bors NewsWeb site