Zwipe Interim Report January to June 2019
Oslo, Norway - 3 September 2019
Biometric technology company Zwipe today announces its Interim Report January to June 2019:
First Half Year
- Revenues for the first half year TNOK 348 (677), reflecting precommercial stage of business
- Result after tax at TNOK -36 329 (-30 712) as the company invests in strategic capabilities
- New equity TNOK 120 000 was raised in January 2019
- Cash and cash equivalents amounted to TNOK 73 728 on the day of closing
Significant events during the period
- Zwipe and XH Smart Technology enter into a strategic partnership to launch biometric payment cards
- Zwipe and Infineon extend partnership
- Zwipe enters milestone partnership to launch biometric payment cards with Goldpac
- Inkript to launch biometric payment cards with Zwipe
- Zwipe announces JavaCard biometric payment platform
- Thomas Greg & Sons do Brasil to launch biometric payment cards with Zwipe
- TAG Systems and Zwipe partner to launch biometric payment cards
- Zwipe appoints Dr. Robert Mueller as CTO and launches European Tech Hub
- Zwipe selects T-shape sensor for volume roll-out offering, highlighting Zwipe’s patent
- Zwipe raises NOK 120 million
Significant events after the period
- Zwipe appoints Lars Myren as new CFO
André Løvestam, Chief Executive Officer at Zwipe, said “Zwipe had significant progress during the first half of 2019. During the period we added five new card manufacturing customers across the world, significantly broadening our customer base. At the same time, multiple pilots with existing customers, banks and payment networks, have provided strong results and given us unique insights as we progress towards commercial adoption of our offerings.
Over the course of this summer, accredited third-party labs used for validation by the major payment networks have confirmed that Zwipe’s platform is comfortably surpassing the biometric performance, security and interoperability requirements for certification to be awarded to card manufacturers.
During the first half of 2019 multiple card manufacturers have started the capital-intensive process of launching biometric payment card specific manufacturing lines, semiconductor providers have begun the development of dedicated offerings for this emerging market, and the entire value chain supporting these processes has started moving more aggressively.
This vote of confidence of the future prospects in biometric payment cards and wearables has opened up several new strategic opportunities for Zwipe; opportunities that we are now pursuing at full speed.
Based on this confirmation of Zwipe’s value proposition and long-term prospects, the Board of Directors has concluded an intent to list on Nasdaq Stockholm's First North Growth Market, thereby further accelerating and supporting the company's development.
I am confident that Zwipe is well positioned to unlock the exciting opportunities coming our way and I am looking forward to the next phase of our journey.”
Please find the full report attached or on the company’s website www.zwipe.com.
Zwipe is a technology solution provider that enables battery-less, ultra-low-power, self-contained biometric authentication solutions. Together with an ecosystem of partners including global brands within security, financial services and ID applications, Zwipe is “Making Convenience Secure™” for banks, merchants and consumers. Using advanced fingerprint recognition while protecting personal information, Zwipe’s solutions address the data theft pitfalls inherent in traditional authentication methods. Headquartered in Oslo, Norway, Zwipe has spent the last 10 years developing its unique power harvesting technology platform in combination with security solutions based on international infrastructure standards. To learn more, visit www.zwipe.com
Media Contact for Zwipe: André Løvestam, CEO, +47 930 44 040 email@example.com