In these first six months the company has increased its EBITDA by more than 180%
The technology company reaffirms its commitment to Latin America with the opening of its subsidiary FacePhi LATAM in Uruguay, and boosts its conquest of new horizons with the constitution of FacePhi EMEA in the United Kingdom
FacePhi, the leading technology company for verifying users’ digital identity, has presented its preliminary unaudited results for the first semester of 2022, the best in its history.
The listed company has closed the first months of the year with an increase of 89.4% compared to 2021 and reached 7.86 million euros, even exceeding the turnover obtained throughout the year 2020. This turnover increase is determined by the achievement of new contracts and the renewal and expansion of previous ones, reflecting the great growth potential and the ambitious expansion plan that the company has.
The company has presented in its preliminary results a positive EBITDA of 455,869 euros, growing by more than 180% in comparison with the figure achieved in the first semester of 2021, and which has represented an improvement of 19.4 percentage points in the EBITDA margin on sales. This result is determined by the significant increase in income over expenses, which have also increased in the first semester of 2022 by almost 70% due to the investment made by the company to boost the commercialisation of its solutions all over the world.
International structural growth
During the first semester of the year, the company has continued to expand its international structure, reinforcing its presence in Latin America with the opening last March of FacePhi LATAM in Uruguay, the company’s second subsidiary that aims to provide service to all the projects that have arised in this region, one that has been very relevant since the company’s beginnings.
At the same time, this year FacePhi has been committed its expansion in Europe, the Middle East and Africa, with the establishment last May of its third subsidiary, FacePhi EMEA, in the United Kingdom. This office will incorporate project management, marketing and operations profiles in the Anglo-Saxon region, as well as a commercial team that will work from the United Kingdom and other strategic countries in the EMEA zone to close new business opportunities.
With these two new subsidiaries and the already existing one in South Korea since 2019, FacePhi APAC, the technology company reaffirms its commitment to consolidating a global team focused on sales and the internationalisation of its solutions, which will allow them to have unstoppable growth and continue leading a sector in full development.
The best product for identity verification
FacePhi kicked off 2022 by revolutionising its business model to make it even more scalable thanks to its new product, the FacePhi Identity Platform. A solution for digital identity verification that has already begun to be implemented in several of its clients, allowing them to have access to a new multi-biometric platform.
Thanks to this innovative product, customers can start using the technology immediately, without going through implementation times. In addition, this solution allows FacePhi to accelerate the adaptability of its technology, arrive faster to the market and expand its alliances with partners.
Human capital reinforcement
FacePhi has reached the figure of more than 200 employees distributed between its headquarters and subsidiaries. An increase that is focused on enhancing the commercialisation of its solutions and on the research and development of new technologies, with the objective of being at the permanent forefront of the identity verification sector. Currently, the company has a high-quality, tested product and now is the time to have professionals who can take it to new markets and expand the technology´s presence.
Strategic expansion into new industries and markets
The company has landed this semester in Nicaragua, the only country in Central America in which it did not have a presence yet after signing an agreement with the banking entity BAC Credomatic. Also in Latin America, the technology company closed an agreement with the retail company Hites in Chile, a country where it landed for the first time in 2021. In parallel, it gained momentum among the European financial sector after reaching an agreement with SoYou, a Spanish company specialised in consumer loans and financing, especially in the automobile sector.
On the other hand, the company has incorporated a new industry: shared mobility, thanks to WiBLE, a carsharing service promoted by Repsol and Kia. In addition, FacePhi has taken a new step in the public administration industry by incorporating its technological solutions for verifying patients’ identity in the hospital Comarcal of Melilla and the hospital Universitario of Ceuta, as well as in primary healthcare centres in both cities.
The company has also maintained its strategy of continuing to expand its alliances with partners and has become a new member of the Oracle PartnerNetwork, making its solutions available on the Oracle Cloud Marketplace, with which it intends to reach a large number of potential customers.
FacePhi has received numerous certifications, an achievement that shows the company’s commitment to the highest quality standards in the industry and that endorses its product as reliable for customers and end users. Among them, ISO 30107-3 Level 2 stands out, which confirms that its technology is highly resistant to identity theft or fraud, and ISO 22301, which guarantees business continuity in the event of a possible crisis. In turn, it has obtained the certification in accordance with the National Security Scheme (NSS), a mandatory recognition for companies that work with Spanish public entities or with companies subcontracted by them, and the Pinakes certification, which distinguishes the company as an approved technology provider for any national banking entity.
FacePhi, unstoppable growth
The company begins the year 2022 with exceptional and historic results in its turnover and a positive EBITDA that almost triples the one obtained in the same period last year. FacePhi continues along the path of expansion and progress that it is known for, and which has led it to become an international benchmark in the industry of users’ digital identity verification.
For FacePhi’s president and CEO, Javier Mira, “This year 2022 begins in the best possible way, with very positive results that are clear proof of where we are focusing our efforts as a company. We are making our business model more recurrent and scalable, as well as building a cohesive and multidisciplinary professional team that allows us to take our technology to more industries, regions and increase the use cases in which it is used”.