IDEX Biometrics ASA (Euronext Oslo Børs: IDEX) ended the second quarter of 2026 with an order backlog of NOK 23.7 million, all committed for delivery in the second half of 2026. The active pilot base has tripled to 23 pilots signed or live as of August, up from seven at the end of May. The Company expects a step-up in order intake and revenue as pilots convert into firm orders from Q3 and as the current backlog is delivered. Revenue for the third quarter is expected to exceed NOK 8.5 million, of which approximately NOK 4.5 million has been shipped as of the date of this report.
Oslo, 20 August 2026
A live webcast presentation will be hosted by Executive Chairman Anders Storbråten at 09:15 CEST and can be accessed through the following link: https://teams.microsoft.com/meet/322283091894500?p=K13M3BoohvHPpp6IKQ
Business highlights Q2 2026 and to date
- Active pilot base tripled to 23. IDEX has 23 customer pilots signed or live as at August 2026, up from seven at the end of May. 11 are live and 12 are signed but not yet live, of which 21 are within Access and two within Pay. One pilot within Pay was converted during Q2 and no pilots have been discontinued or lost to date. A further five pilots are in the near-term pipeline with scope being agreed. Management estimates combined initial purchase-order value of more than NOK 20 million across the current pilot base.
- Four purchase orders received in Q2, across both Access and Pay, representing order intake of NOK 1.9 million in the quarter. The largest were an order of approximately NOK 0.7 million from an existing Access customer for a combined digital and physical access card. Within Pay, one order came from a card manufacturer serving an Indian bank, a market in which we are currently experiencing traction.
- Channel partner network expanded to 25 partners from nine at the end of May, comprising distributors, resellers and technology partners. The network broadens geographic reach and go-to-market coverage and strengthens positioning for larger projects and public-sector tenders. The Company’s distribution agreement with Infinigate has been expanded from Norway to a pan-European arrangement, with roadshow with key accounts underway.
- FIDO Authenticator Certification Level 2 achieved, broadening reach to high-security enterprise and public-sector customers.
Financial highlights Q2 2026
- Order intake NOK 1.9m, from POs across Access and Pay
- Backlog NOK 23.7m, fully committed for delivery in H2 26
- Revenue NOK 1.6m, reflecting initial traction
- Gross margin 19%. New POs to drive margins meaningfully higher
- Opex (excl. SBC) NOK 20.5m, +8% q/q
- Adj. EBITDA NOK –20.2m
- Cash position NOK 28.5m. No interest-bearing debt
Outlook
- Order intake and revenue expected to step up materially in H2 26 as the current pilot base converts into firm orders from Q3 26 and as backlog is delivered
- Q3 26 revenue expected to exceed NOK 8.5 million, of which approximately NOK 4.5 million had been shipped as of the date of this update
- Backlog of NOK 23.7 million committed for H2 26 delivery, with new orders expected to add to H2 26 revenue
- Operating costs are expected to increase in the third quarter as the Company increases sales and marketing efforts where it sees high return
- The Company has no interest-bearing debt, and the backlog is scheduled for delivery against inventory already manufactured
- Almost all pilots signed to date originated from IDEX’s own direct sales effort. The 25 partners signed this year bring established customer bases, local credibility and distribution reach on top
- For IDEX Pay, one pilot converted into a purchase order during Q2 26, supporting an Indian bank launch in September. Two further banks are in pilot phase and one more is in the pipeline
- Demand for hardware-rooted authentication continues to be supported by the increase in AI-enabled attacks on software-based security, and by the shift of NIS2 and DORA from guidance into active enforcement across the EU. Both point enterprise and public-sector buyers towards phishing-resistant, hardware-bound authentication of the kind IDEX supplies
CEO comment
“The last couple of months is when our commercial model came together. We tripled the pilot base from 7 to 23 and expanded the partner network from 9 to 25. The funnel we have spent the first half building is now in place, and none of it has fallen away. From here the task is conversion. We expect a step-up in order intake and revenue going forward as pilots convert and as the current backlog is delivered, and we have already shipped approximately NOK 4.5 million in the quarter to date. Beyond that, the 25 partners we have signed are only now beginning to sell. Almost all of the 23 pilots to date came from our own direct effort; the partner network brings established customer bases and local credibility that we cannot replicate ourselves, and that is where scale comes from. We are also encouraged by the traction in Pay, where one pilot converted into a purchase order during the quarter, supporting an Indian bank launch in September, with two further banks in pilot phase and another in the pipeline”
IDEX
Identify yourself as a human
Contacts
Anders Storbråten, Executive Chairman, Tel: +47 416 38 582
E-mail: ir@idexbiometrics.com
About Us
IDEX Biometrics ASA (OSE: IDEX) develops and makes fingerprint biometric cards for access control, digital identity and payment. By authenticating identity through fingerprint biometrics rather than passwords, PINs or traditional credentials, IDEX enables secure and convenient access to physical and digital services. Fingerprint matching happens directly on the card, offline and without transmitting biometric data. Certified by Visa, Mastercard, FIDO2 and EAL6+, and backed by more than 250 patents and over USD 350 million invested in R&D, IDEX serves banks, enterprises and public sector organizations directly and through channel partners worldwide.
For more information, visit www.idexbiometrics.com
This information is subject to disclosure under the Norwegian Securities Trading Act, §5-12. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-08-20 07:35 CEST.
Attachments
IDEX Q2 2026 Report
IDEX Q2 2026 Presentation