The Spanish company FacePhi releases a results preview for the financial year 2020
The company reaches an EBITDA of 903,822 € and increases its workforce by 135%
In a health crisis context produced by Covid-19, which has resulted in a global paralysis of the economy and has forced companies to reduce their budget items, FacePhi has obtained a revenue figure from the sale of licenses of 7,266,240 euros, 11.34% less compared to 2019. In addition, the company has managed to make a deal with 22 new clients, a 69% increase compared to the 13 agreements concluded in 2019. Very positive data, according to company sources, taking into account that since March last year they have not been able to make business trips.
Likewise, the Alicante-based technology company closed the year with a gross operating profit of 903,822 euros, which indicates a significant drop compared to 2019, where its EBITDA reached 3.08 million euros. This significant reduction in gross profit is attributed, mainly, to the increase in personnel in the company, which has increased by 135%.
Growth, client portfolio expansion and new markets
During 2020, FacePhi has continued to boost its client portfolio and international presence, hand in hand with a growing demand for biometric solutions for contactless access and 100% digital onboarding systems. This significant upsurge of interest in digital onboarding solutions has led FacePhi to acquire the Ecertic technology, allowing the Alicante company to boost its activity in this segment. 2020 has also been the year in which the company has consolidated its headquarters in South Korea through large projects with giants in the banking sector, such as KB Securities, Hanwha Investment & Securities, Daegu Bank or HancomWITH, as well as with its entry in the health sector thanks to the project developed for the Kangbuk Samsung Hospital.
In addition, the firm maintains its leadership in the Latin American market, where it has carried out projects with significant social impact, such as the remote life certificate system for collecting pensions developed for Banco Supervielle or the app for fast and secure advances of payroll together with the fintech TuSueldoYa!.
On the other hand, in order to verify the maximum safety of its products, FacePhi has obtained the iBeta certificate from NIST, ISO 30107-3. Likewise, the company has initiated the change in the marketing model, going from a direct-sales-to-clients model to a sales-through-partners model.
To address all this evolution, the company has continued to focus on the professionalization and growth of the organizational structure, which has meant the hiring, during 2020, of 35 new employees, reaching a human team of 61 people.
According to Javier Mira, CEO of FacePhi “in a situation of generalized economic paralysis due to the health crisis of Covid-19, these financial results show the great effort that the company is making to continue being a benchmark firm in the field of biometric solutions, with a growing presence among large banks, financial groups and the health sector”. Mira continues explaining that, “from FacePhi, we have worked with an eye on the future, ensuring the funds and liquidity necessary so that in 2021 we continue to grow in Asia, maintain our leadership in the Latin American market and, of course, continue adding business, stock and financial milestones, without forgetting the development of new innovative technological solutions”, concludes the CEO of the company.
Source: FacePhi
Turnover and EBITDA (‘000)
Source: FacePhi
