IDEX delivers continued operational progress and strengthened commercial momentum

03 Mar 2026 08:57 CET

IDEX Biometrics enters 2026 with validated products, increasing commercial
traction, and a cost structure aligned with its product-company strategy.

Against the backdrop of a challenging geopolitical environment and the rising
risk of AI-driven attacks, IDEX's products are more relevant than ever.

Authentication needs a reset to address the rapid evolution of AI-enabled
threats, and IDEX provides the market's most secure authentication solution
for physical and digital access --- with biometric data processed and stored
offline on the card. As AI-enabled threats scale, the case for hardware-rooted
biometric authentication only strengthens. IDEX products are designed in such
a way that it makes the customer compliant with evolving regulatory frameworks
(NIS2, DORA and GDPR).

We are entering 2026 with a product offering vault-level security,
lightning-fast authentication, broad compatibility, and simple deployment ---
and we are seeing clear proof points of product-market fit and growing
commercial traction, supported by regulatory tailwinds," says CEO Anders
Storbråten.

Certification timing affected Q4 revenues; strategy execution continued
Q4 was a quarter of continued execution of IDEX's product strategy. As the
important product certifications, including FIDO 2 certification, were
deferred into 2026. As a result, our fifth objective, Sales, was only
partially achieved, reaching approximately 25% of target (received orders vs.
normalised OpEx) As previously communicated, revenue is a lagging indicator.
The leading indicators are --- certification progress, customer validation,
regulatory approvals, and order pipeline development. IDEX can confirm it is
engaged with both public and private sector for our Access cards. The
commercial traction has increased substantially during Q4 particularly after
our presence at Trustech in Paris at the beginning of December.

Operating expenses excluding Cost of Materials and Depreciation were $1.9
million in the fourth quarter of 2025, down 41% compared to $3.3 million in
the fourth quarter of 2024.

We have continued to optimize our costs. Operating expenses, excluding
restructuring charges, reached $8.5 million for the full year 2025, down 54%
compared to $18.5 million in 2024.

Commercial traction and new Chief Revenue Officer in place
Since Q4 closing of the books, IDEX has seen continued positive development.
FIDO certification has been in place since February 2026, and the company is
progressing its commercial sales pipeline. IDEX has signed its first paid
contract with a government entity operating under particularly high security
and quality standards demonstrating the strength of IDEX product offering. The
contract represents an important milestone and is expected to support further
scaling of the Company's commercial footprint within high-security markets

IDEX's sales pipeline includes several prospective customers at various stages
of engagement, representing both meaningful volume potential and customers of
strong strategic and quality value.

As of 23 February 2026, IDEX has appointed Thomas Ludvik Næss as Chief Revenue
Officer.
"I have been seeking the right profile to lead our next phase of commercial
scaling and to execute on our ambitious sales targets. With more than 20 years
of experience in cybersecurity and commercial expansion of security
technologies, Thomas will lead and strengthen IDEX's commercial execution
capabilities as we move from customer validation to broader market deployment.
I am confident he will bring execution power to the company. Looking ahead,
our certified product and growing commercial pipeline give me confidence that
2026 will be the year IDEX converts its current momentum into sustainable
growth" says CEO Anders Storbråten.

For further information, please contact
Anders Storbråten, CEO and CFO, Mobile: +47 416 38 582
Kjell-Arne Besseberg, COO. Mobile: +47 970 54 626
E-mail: ir@idexbiometrics.com

About Us
IDEX Biometrics ASA (OSE: IDEX) is shaping the future of access and payments.

IDEX Biometrics is advancing the future of access and payments with
identity-first biometrics. With over a decade of proprietary innovation, our
solutions are proven in the field, globally certified, and trusted by leading
financial institutions. We serve enterprises, the public sector, banks, and
issuers directly and through partners, delivering secure, seamless experiences
in digital and physical access and payments.

For more information, visit www.idexbiometrics.com
(http://www.idexbiometrics.com/)

This information is subject to disclosure under the Norwegian Securities
Trading Act, §5-12. The information was submitted for publication, through the
agency of the contact persons set out above, at 2026-03-03 08:57 CET.

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667336_IDEX Q4 2025 Report Pub.pdf