Precise Biometrics: The Algo journey continues

Precise Biometrics: The Algo journey continues - ABG

Signs license agreements – SEK 9m in upfront payment Will likely generate additional revenues Trading at 2.4x ‘22 EV/Sales on current estimates

Two licensing agreements for the use of BioMatch Precise announced this morning that the company has signed its first commercial licensing agreements with two Original Design Manufacturers to provide fingerprint technology in vehicles. Precise’s fingerprint algorithm, Precise BioMatch, will be used to allow various applications, including automated adjustments of driver settings in vehicles. Under the terms of the licensing agreements, Precise will receive a total of approximately SEK 9m as upfront payment and future royalties based on actual number of sensors being installed, together with a recurring fee for support and maintenance. Corresponds to ~37% of ABGSCe Q4’21e sales After a large focus on the mobile segment, these agreements are the first license agreements to enter the vehicles segment, which is very important and positive for Precise for many reasons. One thing is that the agreements commercialize the Precise BioMatch technique. Furthermore, the upfront payment corresponds ~37% of ABGSCe current estimated Q4’21e sales, which will contribute to Precises’ Algo segment. Additional royalties and recurring fees for support and maintenance diversifies the revenue streams. Moreover, the projects in the vehicle industry are both longer and the royalties are higher in comparison to the mobile phone projects. The first vehicles with the Precise BioMatch technique will be rolled out in 2022. Trading at 2.4x 2022 EV/Sales This positive news has already made the share rise over 60%. On the current estimates the share is now trading at 2.4x 2022 EV/Sales. Läs mer på Introduce

Precise Biometrics: The Algo journey continues - ABG

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