Fingerprint Cards (FING) Q3 2025 earnings summary

Executive summary

• Achieved 35% year-over-year revenue growth in Q3 and 53% year-to-date, with gross margin rising to 68.6% in Q3, reflecting a shift to higher-value products and strong performance across all revenue streams.

• Transformation plan focused on asset monetization, core growth, new growth, and business modernization is delivering results, with operational efficiency improved by a 54% reduction in headcount year-over-year.

• Significant progress toward positive EBITDA and cash flow, supported by a capital-light, scalable growth model and improved operating cash flow.

• Strategic focus on moving up the value chain from sensors to integrated systems, expanding into new software/cloud markets, and leveraging AI-driven marketing and automation.

• Monetized assets, including SEK 24m from Egis in Q3 and SEK 19m from PixArt in Q4, providing upfront cash and future royalty streams.

Financial highlights

• Q3 2025 revenue: SEK 20.4M (up 35% year-over-year; 47% in constant currency), with gross profit increasing 65% to SEK 14.0M.

• Gross margin reached 68.6% in Q3 2025, up from 56.3% in Q3 2024; 58.7% year-to-date.

• EBITDA improved to SEK -9.8M in Q3 2025 from SEK -40.8M a year ago; free cash flow at SEK -2.3M, a significant improvement from SEK -27.6M last year.

• Cash and equivalents at quarter-end were SEK 28.3M, down from SEK 48.8M a year ago.

• Earnings per share: SEK -0.42 in Q3 2025, adjusted for reverse split.

Outlook and guidance

• Focus remains on executing the transformation plan, driving positive EBITDA and free cash flow through profitable growth and continued asset monetization.

• Cash position, bolstered by recent asset sales, secures runway for executing growth initiatives and transformation.

• Expecting increased revenue mix from AllKey systems over the next two to three years and recurring SaaS revenue from new business partnerships starting in the second half of next year.

• Strategic plan emphasizes operational discipline, high-margin core products, and expansion into new growth areas.

• Continued investment in scalable platforms and AI-driven business modernization to support sustainable margin expansion.