Facephi Biometria (FACE) H1 2024 earnings summary

Executive summary

• Achieved record turnover of €11.7 million in H1 2024, up 20% year-over-year, driven by international expansion and business plan execution.

• Secured €5 million investment and exclusive APAC distribution agreement with HANCOM, expanding international presence.

• Strengthened leadership with new CFO, Investor Relations Director, and expanded LATAM operations.

• Launched new products and features, including behavioural biometrics, KYB Platform, and premium UX consulting.

• Management highlights operational and technological structure optimization, positioning for faster, more profitable growth and stronger cash flow from 2025.

Financial highlights

• Turnover rose to €11.7M in H1 2024 from €9.7M in H1 2023, a 20% increase year-over-year.

• Annual Recurring Revenue (ARR) increased to €27.4M from €21.8M, up 26%.

• Normalized EBITDA (excluding extraordinary expenses) improved by 10% to -€2.1M, reflecting seasonality.

• Net loss for H1 2024 was €6.29 million, compared to €4.70 million loss in H1 2023.

• R&D investment grew by 13% to €2.4M, supporting new developments and market entry.

Outlook and guidance

• Expansion in APAC and LATAM expected to drive further growth, supported by strategic partnerships.

• Management expects significant EBITDA and turnover growth in 2025 as investments in market acquisition begin to yield results.

• Company forecasts positive consolidated EBITDA in 2025, supported by operational improvements and new financing.

• Additional capital contributions from main shareholders expected to exceed €11 million by year-end.

• New capitalisation strategy and cessation of convertible bond issuance aim to ensure financial stability.