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Precise Biometrics: Tough conditions for Algo persist - ABG

Sales SEK 17.7m, -13% vs. ABGSCe SEK 20.5m
EBITDA SEK -1.1m vs. ABGSCe SEK 0.9m
We anticipate negative cons. est. revisions


Q3'23 outcome

Sales came in at SEK 17.7m (-13% vs. ABGSCe 20.5m), implying a y-o-y decline of -6%. The company delivered an EBITDA of SEK -1.1m (vs. ABGSCe 0.9m), and an EBIT of SEK -7.3m (vs. ABGSCe -5.4m). The third quarter results were below what we had expected with respect to both sales and EBITDA. Algo royalties were weaker than we expected, explaining almost the entire deviation. The Digital Identity segment achieved an ARR of SEK 17.8m, implying no sequential growth but 10% y-o-y growth.
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