News

Precise in collaboration with Sehlhall Fastigheter

Precise has entered into a collaboration agreement with Sehlhall Fastigheter – a real estate company building and managing community service properties. Precise facial recognition technology will be used for safe and convenient access to, and inside, Sehlhall's properties.

Precise YOUNiQ integrates face recognition with access control systems to provide convenient and secure access to facilities. The technology behind the product is based on artificial intelligence that confirms the individual's identity through its unique facial features. Sehlhall is the first real estate company to use Precise’s technology.

“We look forward to being a part of Sehlhall's mission to create safe and infection-proof community service properties. Our technology provides unbeatable convenience, while ensuring that the right people have access to the right parts of the property. As these functions are highly important in this kind of properties, Precise’s technology can create great value for all operations in this segment”, said Precise CEO, Stefan K. Persson.

Although minimizing the spread of infection is largely about hygiene routines among the individuals in the operations, Sehlhall is focusing on reducing the risks in its role as property owner. Through a strategic combination of architecture, design and technical solutions, Sehlhall can create the best conditions to minimize the spread of infection.

“Sehlhall's community service properties represent the highest level of security and safety. With Precise technology for face recognition, we continue to modernize Sweden's social infrastructure”, said Dan T. Sehlberg, President and CEO of Sehlhall Fastigheter.

About Sehlhall Fastigheter:
Sehlhall Fastigheter builds and strengthens Sweden’s social infrastructure. We create and manage modern, sustainable community service properties, always with the people at the center. Sweden is facing demographic challenges and is grappling with a growing deficit of various social functions, such as kindergartens, schools, group and nursing homes. With commitment, knowledge and experience, Sehlhall Fastigheter addresses these challenges by building new properties for social infrastructure.

Future growth based on financial strength

INTERIM REPORT FOR THE PERIOD JANUARY – SEPTEMBER 2020

THIRD QUARTER

  • Net sales totaled SEK 23.2 (27.5) million.
  • EBITDA totaled SEK 1.1 (6.6) million.
  • The operating profit/loss totaled SEK -2.2 (3.3) million.
  • Earnings for the period totaled SEK -2.2 (3.2) million.
  • Earnings per share totaled SEK -0.01 (0.01).
  • Cash flow from operating activities totaled SEK 0.5 (-3.4) million.

INTERIM PERIOD

  • Net sales totaled SEK 69.9 (53.1) million.
  • EBITDA improved and totaled SEK 6.2 (-2.2) million.
  • The operating profit/loss totaled SEK -3.2 (-11.9) million.
  • Earnings for the period totaled SEK -3.3 (-12.3) million.
  • Earnings per share totaled SEK -0.01 (-0.03).
  • Cash flow from operating activities was strengthened and totaled SEK 9.7 (-14.7) million.

SIGNIFICANT EVENTS DURING THE QUARTER

  • Partnership agreement signed with RCO Security for the integration of YOUNiQ with RCO’s access system

SIGNIFICANT EVENTS AFTER THE END OF THE INTERIM PERIOD

  • YOUNiQ integrated with Telcred and Axis Communication’s system. First installation operational at Zynka Group’s head office in Gothenburg

FINANCIAL DATA AND KEY INDICATORS
Amounts in SEK thousands unless otherwise stated

KEY INDICATORS

2020 2019 2020 2019 2019 Rolling
  Q3 Q3 Q1 – Q3 Q1 – Q3 Full-Year 12 mth
Net sales 23 175 27 521 69 855 53 111 91 927 108 671
Net sales growth, % -15.8% 63.6% 31.5% -1.1% 35.9% 62.1%
Gross margin, % 79.8% 89.2% 84.1% 82.5% 86.4% 86.8%
Operating profit/loss -2 187 3 259 -3 167 -11 883 651 9 367
Operating margin, % -9.4% 11.8% -4.5% -22.4% 0.7% 8.6%
Cash flow from the operating activities 480 -3 439 9 681 -14 734 -477 23 938
Cash and cash equivalents 71 294 60 908 71 294 60 908 73 676 71 294

See the Financial Glossary for definitions.

INVITATION TO PRESENTATION OF THE INTERIM REPORT

In connection with today’s interim report, Precise invites investors and the media to an informational conference call.

The conference call starts at 10:00 AM (CET).

Link to all public information such as link to webcast and participant number for the telephone conference:

https://financialhearings.com/event/13012

To take part, click on the link above to listen to and follow the presentation online, or call one of the following numbers to follow by phone.

SE: +46850558358
UK: +443333009273

You will be asked to state your name when you connect to the conference call and there will be an opportunity to ask questions in Swedish. The conference call will be held in English.

Participating on behalf of Precise:
Stefan K Persson, CEO
Ulrik Nilsson, CFO

CEO COMMENTS
I am delighted to be able to present another quarter for Precise with a continued positive result at EBITDA level. We are making major inroads in the field of Digital Identity, where YOUNiQ for secure and convenient access to facilities is being used thousands of times every day in more than 40 installations around Sweden.

Net sales in the third quarter were, as expected, in line with the previous quarter and totaled SEK 23.2 million. If we look at the interim period as a whole, net sales increased by 31.5% to SEK 69.9 million. The increased income during the interim period combined with good cost control has resulted in a stable financial position, enabling continued investments in our prioritized areas.

We are continuing to see increased demand for YOUNiQ from more and more actors, and customers are requesting additional installations of our access product, including Temporary Space Nordics. We signed a partnership agreement during the quarter with RCO Security for the integration of YOUNiQ with their access system, enabling sales of YOUNiQ to their customers. After the end of the quarter, YOUNiQ was integrated with Telcred’s access system, an open, cloud-based platform. Zynka Group is the first customer to use YOUNiQ together with Telcred, with the hardware being supplied by Axis Communication. Integrations with different suppliers’ systems are in line with our strategy, as partnerships with platform suppliers and security companies give us accelerated access to a bigger customer base.

Another important element of our sales and marketing strategy in the field of access is direct sales. We continued to strengthen our sales force during the quarter. In Sweden alone, we have identified an addressable market worth around SEK 1 billion by 2025. We are well positioned to seize the opportunities presented by the steady growth in demand.

In the Mobile area, we continue to see our product being integrated into devices from leading OEM manufacturers, e.g., Samsung. We are continuing to increase our share of the value chain, by assuming greater responsibility for areas such as pre-processing, in order to strengthen joint positions together with our partners. There is still high demand for optical sensors, which are gaining ground in the medium- and high-price segment, where Precise has a stronger position.

As we expected, none of the card issuers have as yet produced smart cards in any significant volumes. We are seeing a slight increase in activity regarding smart cards in the wake of Covid-19. As banks now prepare for commercial launches, we expect modest volumes to be produced over the next year. Precise is standing poised to capitalize on this market.

With stable income from Mobile, we continue to invest in the field of Digital Identity, where we see major market potential for access. We are confident in our efforts to be the preferred supplier of identification software for secure and convenient identification, where you are the key.

Stefan K Persson, CEO

Precise identification software integrated in open cloud-based platform for access control

Precise has successfully integrated its product for access to facilities with Telcred Access Manager, a cloud-based access control system supporting open hardware from Axis Communications and other providers. Zynka Group, a leading provider of products for BIM (Building Information Management) and “Digital Twins” will deploy the solution at their headquarters in Gothenburg.

“The integration of our identification software for seamless access to facilities with Telcred’s open platform for access control reflects our strategy to partner with modern and innovative platform providers. We are looking forward to continuing working with Telcred, Axis and Zynka as we proceed on our growth journey within the Digital Identity area”, says Precise CEO Stefan K. Persson.

Precise YOUNiQ integrates face recognition with access control systems to provide convenient and secure access to facilities. The technology behind the product is based on artificial intelligence that confirms the individual's identity through its unique facial features. Using Telcred’s API for integration with external systems, Precise has successfully integrated the product with Telcred Access Manager, a cloud-based access control software engine utilizing IP-connected door controllers from Axis Communications.

“Face recognition as a credential technology combines high security with unrivalled convenience. The integration effort with Precise YOUNiQ was trivial which illustrates the strength and possibilities of truly open platforms. We see many potential applications for this technology, and we think it will become increasingly adopted in access control systems over the next few years”, says Telcred CEO Carlo Pompili.

Zynka Group AB will be the first customer to use Precise YOUNiQ via Telcred’s access control platform. Axis Communications will provide the door controllers, which connect directly to the Telcred cloud-service over IP. Integrated with Telcred, Zynka also provides an access management solution for customers of their digital buildings platform.

“An open access management solution with a single API endpoint for integration is vital to our strategy to deliver value-adding digital services throughout the building lifecycle. Telcred’s open cloud-service enables us to do exactly that already today, with an array of future possibilities. We are also convinced that face recognition as a method of granting access to spaces will be well received by our platform customers”, says Zynka CTO Daniel Månsson.

“This is what the world of open systems looks like and I think it’s also a glimpse of the future. I’m very proud of Axis contribution to this ongoing shift in the industry”, says Axis Eco-system Manager Björn Callenfors.

About Telcred AB
Telcred AB is a software company based in Stockholm providing an Enterprise Access Control software engine based on cloud, IP, mobile, and open system architecture.

About Zynka Group AB
Zynka Group AB specializes in digitalization of the built environment with a combination of strategic consultancy and a scalable platform solution for managing digital twins.

About Axis Communications AB
Axis enables a smarter and safer world by creating network solutions that provide insights for improving security and new ways of doing business. As the industry leader in network video, Axis offers products and services for video surveillance and analytics, access control, and audio systems. Axis has more than 3,500 dedicated employees in over 50 countries and collaborates with partners worldwide to deliver customer solutions. Axis was founded in 1984 and has its headquarters in Lund, Sweden.

Precise enters partnership with RCO Security

Precise has entered into an agreement with RCO Security AB – a leading security company that develops, manufactures and sells services and products within access and security systems – for the integration of Precise product for access to facilities with RCO’s access control system.

“We are pleased to have entered into a partnership with RCO, which has a very strong market position in the Nordic region. During 2020, we have taken large steps in the development and commercialization of YOUNiQ. This collaboration represents an important milestone as we now enter the next phase, to scale up and launch the product widely in the Nordic market,” said Precise CEO, Stefan K. Persson.

Precise YOUNiQ – Access integrates face recognition with access control systems to provide convenient and secure access to facilities. The technology behind the product is based on artificial intelligence that confirms the individual's identity through its unique facial features. Through the collaboration with RCO, the product has been successfully integrated with RCO's access control system and installed at RCO's head office in Järfälla.

"At a time when digitalization permeates all forms of industries and their solutions, it is important to be at the forefront and be able to offer our customers smart solutions with high security and excellent user experience. Through the collaboration with Precise, we can now complement our already strong product range with a product that is timely and appropriate", said Christian Lund, Customer Experience Director at RCO Security AB.

About RCO Security
RCO Security AB develops, manufactures and sells services and products within access and security systems. RCO was founded in 1976 and has established itself as a leading supplier in the Nordic market. Today, RCO is represented in Sweden, Norway and Finland. The head office is located in Järfälla in Stockholm. The company has shown solid growth and profitability in recent years. RCO has revenues of just over SEK 200 million per annum and has approximately 90 employees. RCO Security is 100 percent owned by Novax, which is part of the family company Axel Johnson AB. The company is environmentally certified by Svensk Miljöbas.

For more information, please visit: https://www.rco.se/

Continued growth and investments in Digital Identity

INTERIM REPORT FOR THE PERIOD JANUARY – JUNE 2020

SECOND QUARTER

  • Net sales totaled SEK 23.6 (13.4) million.
  • EBITDA improved and totaled SEK 2.0 (-4.1) million.
  • The operating profit/loss totaled SEK -1.1 (-7.3) million.
  • Earnings for the period totaled SEK -1.5 (-7.6) million.
  • Earnings per share totaled SEK 0.00 (0.02).
  • Cash flow from operating activities was strengthened and totaled SEK 2.3 (-1.1) million.

INTERIM PERIOD

  • Net sales totaled SEK 46.7 (25.6) million.
  • EBITDA improved and totaled SEK 5.1 (-8.8) million.
  • The operating profit/loss totaled SEK -1.0 (-15.1) million.
  • Earnings for the period totaled SEK -1.2 (-15.5) million
  • Earnings per share totaled SEK 0.00 (-0.04).
  • Cash flow from operating activities was strengthened and totaled SEK 9.2 (-11.3) million.

SIGNIFICANT EVENTS DURING THE QUARTER

  • Extended license agreement with leading provider of fingerprint sensors, Egis Technology. It is estimated that total revenues from Egis will be around SEK 60 million for 2020.
  • A three-year agreement in respect of Precise YOUNiQ was signed with Temporary Space Nordics AB.

SIGNIFICANT EVENTS AFTER THE END OF THE INTERIM PERIOD

There have been no significant events since the end of the period.

FINANCIAL DATA AND KEY INDICATORS
Amounts in SEK thousands unless otherwise stated

2020 2019 2020 2019 2019 Rolling
  Q2 Q2 Q1 – Q2 Q1 – Q2 Full-year 12 mth
Net sales 23 615 13 446 46 680 25 590 91 927 113 017
Net sales growth, % 75,6% -28,2% 82,4% -30,6% 35,9% 100,5%
Gross margin, % 84,7% 78,8% 86,2% 75,2% 86,4% 88,9%
Operating profit/loss -1 128 -7 274 -980 -15 143 651 14 814
Operating margin, % -4,8% -54,1% -2,1% -59,2% 0,7% 13,1%
Cash flow from the operating activities 2 266 -1 089 9 201 -11 295 -477 20 019
Cash and cash equivalents 76 259 65 416 76 259 65 416 73 676 76 259

See the Financial Glossary for definitions.

INVITATION TO PRESENTATION OF THE INTERIM REPORT

In connection with today’s interim report, Precise invites investors and the media to an informational conference call.

The conference call starts at 10:00 AM (CET).

Link to all public information such as link to webcast and participant number for the telephone conference:

https://financialhearings.com/event/13011

To take part, click on the link above to listen to and follow the presentation online, or call one of the following numbers to follow it by phone.

SE: +46850558373
UK: +443333009035

You will be asked to state your name when you connect to the conference call and there will be an opportunity to ask questions in Swedish. The conference call will be held in English.

Participating on behalf of Precise:
Stefan K Persson, CEO
Ulrik Nilsson, CFO

CEO COMMENTS
Precise continued to see strong development during the quarter, including a profit at EBITDA level and positive cash flow from operating activities, while we continued to invest in the field of Digital Identity. The quarter was an eventful one in many respects, with continued integrations of our BioMatch Mobile product in most ranges of mobile phones and tablets, and important steps in the development and commercialization of Precise YOUNiQ, primarily in the Access application area. In the wake of Covid-19, this is an application area that has generated greater interest, as evidenced by major investments being made by security companies, real estate companies, government agencies and other actors that have realized the need for contactless, secure and convenient identification solutions for access to buildings and premises. Precise has a function to deliver here.

Net sales in the second quarter totaled SEK 23.6 million, 76% more than in the same period last year. EBITDA improved and totaled SEK 2.0 million, and there was a loss at EBIT level of SEK -1.1 million, an improvement of SEK 6.1 million on the same period last year. The operating loss is due above all to the investments being made in the area of Digital Identity in order to secure future growth. These investments are being made possible by the positive cash flow from the Mobile area. All in all the pandemic has highlighted the resilience of our business model. Even though it is difficult at present to judge the situation with regard to macroeconomic effects and demand for consumer cyclicals in future, we expect sales over the next two quarters to be in line with the second quarter of the year, enabling continued investments in future growth.

During the quarter we signed a commercial agreement with Temporary Space in respect of Precise YOUNiQ. Temporary Space offers temporary premises, known as modules, which are used at various construction sites. We are conducting a continuous dialog with Temporary Space about their future needs, in which Precise YOUNiQ forms part of their journey towards digitalization.

Alongside the commercial installations, we are also implementing a number of proof-of-concepts with selected hospitals. These are proceeding according to plan and have so far reported good results, creating good prospects of being able to sign commercial agreements with the hospitals in due course. We have also signed a collaborative agreement with NVSS Security, who will from now on be our service and support partner, as well as contributing to sales work for Precise YOUNiQ in the area of Access.

In the Mobile area, collaborations with our partners in Asia have resulted in our product for fingerprint recognition in mobile devices being integrated into devices from companies including Samsung and Huawei, the two biggest suppliers of Android devices in the world. Our focus in the Mobile area is now on extending our share of the value chain in terms of software for fingerprint sensors and assuming greater responsibility for, among other things, pre-processing fingerprints in order to even further enhance our position with our partners, as well as to identify and target new potential partners.

Demand for contactless methods of processes such as payment has increased during the year. Banks in Sweden have raised their limit for contactless payments from SEK 200 to SEK 400, in order to avoid the spread of infection that can occur through contact with the card terminal when entering the PIN code. Consequently, around 50 per cent of all card payments in Sweden are now contactless. This is also driving the development of biometric cards, where Precise has a certified product that is ready to be integrated into the cards. As reported previously, we are waiting for another link in the supply chain to be certified, before card issuers can start to mass produce the cards and thereby reduce their manufacturing costs. Even though there has been a general increase in activity, we do not yet expect any major volumes of biometric cards from any of the card issuers in 2020.

In summary, it has been an eventful first six months of the year for Precise, naturally dominated by the ongoing pandemic. We have reorganized the business and can efficiently manage sales, product development and marking digitally. Our absolute focus for the rest of the year on sales, and our vision of secure, convenient identification wherever you are, whoever you are and whatever you are doing is more relevant now than ever.

Stefan K Persson, CEO

Resolutions at Precise Biometrics’ annual general meeting 2020

At the Annual General Meeting (the “AGM”) of Precise Biometrics, which was held today on Friday May 15, Torbjörn Clementz, Torgny Hellström, Mats Lindoff, Åsa Schwarz and Synnöve Trygg were re-elected Board members.

ELECTION OF BOARD MEMBERS, CHAIRMAN OF THE BOARD AND AUDITOR
In accordance with the Nomination Committee´s proposal, the AGM resolved to re-elect Torbjörn Clementz, Torgny Hellström, Mats Lindoff, Åsa Schwarz and Synnöve Trygg as Board members. Torgny Hellström was re-elected as Chairman of the Board.

The accounting firm EY was re-elected as auditor of the company for a mandate period of one year, with the authorized public accountant Johan Thuresson as auditor in charge.

In accordance with the Nomination Committee’s proposal, the AGM resolved on fees entailing that the Chairman of the Board shall receive SEK 545,000, that each of the other four members of the Board shall receive SEK 190,000 and that remuneration for committee work shall amount to SEK 35,000 for members of the Audit Committee, SEK 70,000 for the Chairman of the Audit Committee and SEK 25,000 for members and Chairman of the Remuneration Committee.

DIVIDENDS
It was resolved that no dividends should be paid for the financial year of 2019.

GUIDELINES FOR REMUNERATION TO SENIOR MANAGEMENT
In accordance with the proposal of the Board, the AGM resolved to adopt guidelines for remuneration to senior management principally entailing that remuneration shall be on markets terms and entail both short and long-term incentives. The remuneration shall consist of fixed cash salary, pension benefits and other benefits and may furthermore consist of variable cash remuneration. Variable remuneration shall be based on predetermined, well-defined and measurable financial and non-financial criteria for the group. The variable remuneration for the CEO may amount to not more than 75 percent of the fixed cash salary and may amount to not more than 50 percent of the fixed cash salary for other senior executives.

AUTHORIZATION FOR THE BOARD TO RESOLVE UPON NEW ISSUES OF SHARES AND/OR CONVERTIBLES
In accordance with the proposal of the Board, the AGM resolved to authorize the Board to resolve, on one or several occasions before the next AGM, on an issue of shares and/or convertible bonds. Such issue may entail a deviation from the shareholders’ preferential right to subscribe for new shares and/or convertible bonds and also entail that payment of the new shares and/or convertible bonds may be made in cash or by consideration in kind or by right of set-off. The number of shares and/or convertible bonds to be issued by virtue of the authorization shall not exceed 10% of the registered share capital (as per the date of the resolution on the issue of new shares and/or convertible bonds). The purpose of the authorization and the reason for the deviation from the shareholders’ preferential right is to enable the company, by way of issues of new shares/convertible bonds for payment in cash, in kind or through set-off, to strengthen the company’s capital base in connection with company acquisitions or strategic capital or other investments, and to obtain capital contributions from new owners that are considered strategically important from an operational, financial, structural or other perspective.

AMENDMENT OF THE ARTICLES OF ASSOCIATION
In accordance with the proposal of the Board, the AGM resolved to amend § 1, § 8 and § 13 of the Articles of Association for the purpose of adapting the Articles of Association to implemented and expected amendments of the Swedish Companies Act and the Swedish Central Securities Depositories and Financial Instruments (Accounts) Act.

FOR FURTHER INFORMATION, PLEASE CONTACT
Torgny Hellström, Chairman of the Board, Precise Biometrics
Phone: +46 733 45 13 00
E-mail: torgny.hellstrom@precisebiometrics.com

Growth and financial strength in an unsettling time

INTERIM REPORT FOR THE PERIOD JANUARY – MARCH 2020

FIRST QUARTER

  • Net sales totalled SEK 23.1 (12.1) million.
  • Net operating profit/loss totalled SEK 0.1 (-7,9) million.
  • The profit/loss totalled SEK 0.3 (-7,9) million.
  • Earnings per share totalled SEK 0,00 (-0,02).
  • Cash flow from operating activities totalled 6.9 (-10.2) million.

SIGNIFICANT EVENTS DURING THE QUARTER

Adjustment of operations due to COVID-19 to safeguard operations and employee safety
Agreement signed with Exeger regarding biometric access to facilities
Pilot project initiated with Friskis & Svettis in Lund to test Precise product for biometric access to facilities during unmanned periods

SIGNIFICANT EVENTS SINCE THE END OF THE FULL-YEAR PERIOD

Extended license agreement with leading provider of fingerprint sensors, Egis Technology. For 2020, the total revenue from Egis is estimated to amount to around MSEK 60.
YOUNiQ 3-year contract with Temporary Space Nordics AB

FINANCIAL DATA AND KEY INDICATORS

KEY INDICATORS

2020 2019 2019 Rolling
Amounts in SEK thousand unless otherwise stated Q1 Q1 Full-year 12 mth
Net sales 23 065 12 144 91 927 102 848
Net sales growth, % 89,9% -33,1% 35,9% 66,9%
Gross margin, % 87,7% 71,2% 86,4% 88,5%
Operating profit/loss 148 -7 868 651 8 667
Operating margin, % 0,6% -64,8% 0,7% 8,4%
Cash flow from the operating activities 6 935 -10 206 -477 16 664
Cash and cash equivalents 78 399 67 474 73 676 78 399

Definitions, see financial glossary.

PRESENTATION OF THE INTERIM REPORT

In connection with today’s interim report, we include an invitation to a telephone conference/webcast today at 10:00 AM.

The conference call starts at 10:00 AM (CET).

Link to all public information such as link to audiocast and participant number for the telephone conference.

https://financialhearings.com/event/12329

To take part, click on the link above to listen to and follow the presentation online, or call +443333009267 to follow it over the phone.

You will be asked to state your name when you connect to the conference call and there will be an opportunity to ask questions in Swedish. The conference call will be held in English.

Participating on behalf of Precise:
Stefan K Persson, CEO
Ulrik Nilsson, CFO

CEO COMMENTS
The spread of Covid-19 has affected people and companies all over the world, and Precise's operational work has been put to the test during the quarter. It has been challenging, but at the same time very instructive, and altogether Precise has managed to successfully fend off the pandemic so far. The most important event so far in 2020 occurred after the end of the quarter, when we extended the agreement with sensor manufacturer Egis Technology regarding our identification software for mobile devices. This means that we now have approximately MSEK 60 in revenue for 2020 secured from a large and important partner with most of the major OEM manufacturers in their customer portfolio. The revenues from Egis are divided into license revenues, royalties and support and maintenance fees, which is important for a broad spread of current revenues.

Net sales for the first quarter amounted to SEK 23.1 million, an increase of 90 percent compared with the same period in the previous year. More pleasing news is that results have improved considerably, with a positive EBIT result of SEK 0.1 million, an increase of SEK 8 million compared with the corresponding period in the previous year. We are completely debt-free with cash and cash equivalents of SEK 78.4 million, which is a strength, not least in times like these. Through continued investments in all business areas, we are broaden our offering in order to be able to reduce our dependency on revenue from the mobile side (which remains volatile) in the future and therefore able to stand even more stable. We continue to take important steps on our journey towards growth and becoming a profitable company that creates value for our customers, end users and shareholders.

In the Digital Identity business area, we have accelerated our commercial activities, mainly regarding access applications. We have started a number of exciting pilot projects with players such as Friskis & Svettis in Lund, and we have also received our first commercial order from Exeger, a very innovative technology company. By installing our identification software, their employees and visitors can now gain access to the company's premises in a much simpler and more secure way than before. We have also initiated proof-of-concepts with some hospitals, where we installed our product for access in different medicine cabinets for easier and more secure handling and control of medicines and medicinal products. It is a very exciting project where we can be involved in digitizing and streamlining healthcare, which also shows the wide range of application areas our access product has.

Something we really take with us from the current pandemic in relation to our business is the importance of contactlessness, whether it is payments, access or other applications, where biometrics can best be used as a way of verifying the user's identity. We see that demand is increasing and we are working closely with our partners to remain at the forefront of innovation, user-friendliness and security in order to continue to gain ground in our business areas.

I am happy and proud of how we have performed both financially and operationally so far, where each employee has done their utmost to maintain and strengthen our leading position.

Stefan K Persson, CEO

Temporary Space chooses Precise YOUNiQ for facility access

Precise has entered into an agreement with Temporary Space Nordics AB – a Nordic provider of temporary premises – for the installment of Precise YOUNiQ for facility access in 10 of Temporary Spaces rigs, portable module units used at various building sites. In accordance with the agreement, Precise will receive approximately 1,5 MSEK in revenues over a three-year span.

Temporary Space offer brand new premises for office, education or the like as a substitute for building new or renovating. By using Precise product for facility access, the company can digitalize its onboarding process, without the need for keys or tags to enter the premises. Precise YOUNiQ integrates facial recognition with the door access system to conveniently and securely grant access to restricted facilities.

“We are delighted to deliver our product for convenient and secure facility access to Temporary Space, a company that today are forced to handle hundreds of keys every day and thus, understands the benefits of streamlining its onboarding process. We are confident that our product will be of high value for Temporary Space and the many users that use their rigs daily, and we look forward to further discussions regarding more potential installations”, says Precise CEO Stefan K. Persson.

“In our ambition to give our customers a spot-on experience of our premise’s solutions, we believe our cooperation with Precise is an important step, a way to be in the frontline of our markets digitalization”, says Temporary Space Country manager in Sweden, Nina Flood.

About Temporary Space
Temporary Space has 30 years of experience in temporary premises that the company establish with top-class modules. The company can offer brand new premises for office, education or the like as a substitute for building new or renovating. Thanks to the fact that the premises consist of several composite modules, Temporary Space can offer flexible solutions tailored to customers specific needs. For more information, please visit: https://temporaryspacenordics.com/

Postal voting for Precise Biometrics’ Annual General Meeting on 15 May 2020

As a part of the effort to minimize the risk of spreading the coronavirus, the Board of Directors in Precise Biometrics has resolved that shareholders in Precise Biometrics shall be able to exercise their voting rights digital or by post before the AGM 2020. The intention of the Board of Directors’ resolution is to minimize the number of people gathered at the location of the general meeting. Precise Biometrics encourages all shareholders to, in the manner stated below, exercise the possibility to postal voting.

Shareholders who wish to exercise the possibility to postal voting shall, in addition to being included in the shareholder’s register as per the record date on 9 May 2020, use a form for notification of attendance and postal voting which will be available through Precise Biometrics’ website, www.precisebiometrics.com.

  • Completed and signed form shall either be sent digitally through "BankID", or in original to Precise Biometrics, "Annual General Meeting", c/o Euroclear Sweden AB, Box 191, 101 23 Stockholm, or by e-mail to GeneralMeetingServices@euroclear.eu (please state “Precise Biometrics – Postal voting” in the subject line).
  • The form must be Precise Biometrics at hand no later than Monday 11 May 2020, preferably before 16 pm. CEST.

If the shareholder is a legal entity, a copy of the registration certificate or a similar document of authorization is to be attached. The shareholder may not provide the postal vote with specific instructions or conditions. If so, the entire postal vote is invalid.

As previously stated in the notice of the Annual General Meeting, Precise Biometrics will take, among other things, the following precautions in relation to the Annual General Meeting:

  • the time for registration of attendance is postponed to 1.45 p.m.,
  • no beverages and food will be offered,
  • there will not occur any speeches by the chairman of the Board of Directors, the CEO, the auditor or the representative of the nomination committee. Instead, a speech by the CEO will be recorded and published on Precise Biometrics’ website www.precisebiometrics.com after the meeting,
  • the number of attending non-shareholders, board members, company officials and guests will be limited, and
  • questions on the meeting will be concentrated to matters on the agenda and other information that the participants have a right to be provided with according to law. Any general question time will not be held on this Annual General Meeting, and the meeting will, to the extent possible, be minimized in time without limiting the shareholders’ rights.

Considering the risk of infection, the company advice against physically attending the general meeting, and recommends the shareholders to participate by postal voting as stated above. Precise Biometrics is carefully monitoring the continued development and will if necessary update its website www.precisebiometrics.com with information on any additional measures that are being taken in connection with the Annual General Meeting.

FOR FURTHER INFORMATION, PLEASE CONTACT
Torgny Hellström, Chairman of the Board, Precise Biometrics
Phone: +46 733 45 13 00
E-mail: torgny.hellstrom@precisebiometrics.com

Precise extends licensee agreement with Egis Technology

Precise today announced that it has signed an extended licensee agreement with the leading fingerprint sensor supplier, Egis Technology (“Egis”). Following the agreement, Precise is entitled to royalties based on actual number of devices utilizing Precise identification software for mobile devices, together with licensee fees and fees for support and maintenance. For 2020, the total revenues from Egis is expected to amount to approximately 60 MSEK.

The agreement follows the successful integrations of Precise identification software into Egis fingerprint sensors, which in turn has been implemented in various series of mobile devices from large OEM manufacturers during 2019 and beginning of 2020.

“We are pleased to extend our collaboration with Egis, which we see as a strong acknowledgement for our leading fingerprint software as well as our ability to business develop and support our customers. This agreement will be important to be able to scale up our products in the digital identity space for convenient and secure identification in other areas of applications”, says Precise CEO Stefan K. Persson.

About Egis Technology
Egis Technology Inc. (Egis) specializes in the IC design, research and development, and the testing and sales of optical and capacitive fingerprint sensors. The combination of the company’s IC’s high resolution, small size, and low cost makes it the ideal choice for implementation. With close to two hundred patents worldwide, Egis is committed to providing solutions with more innovation, more foresight and simpler, intuitive user experience, creating superior value for customers.

About Precise BioMatch Mobile
Precise BioMatch Mobile is Precise’s fingerprint software for mobile devices, such as smartphones and tablets. The product provides the best user experience & security of fingerprint recognition in mobile devices and works with any type of sensor technology. Read more: https://precisebiometrics.com/products/smartphone-tablet/