The technological company has presented a results preview estimating a sales figures of 4.48 million euros in the last financial year.
The data presented in FacePhi’s latest preview of results confirm the good performance of the Spanish company,a worldwide leader in terms of facial biometrics for banking entities throughout 2018. The closure of new international deals has allowed the fintech brand to increase its turnover by 65.92% as compared to the last financial year, which means a revenue figure of 4.48 million euros from the sale of licenses, exceeding the 2.7 million euros registered at the end of 2017.
The new business alliances established throughout this last financial year have allowed the company to strengthen its position within the biometric sector in 2018. Thus, the company’s international expansion strategy has been strengthened with the achievement of new agreements with prestigious financial institutions such as Banco Macro and Garantizar, and the integration to the banking platform Bantotal, bringing its customer portfolio to 28 entities.
Furthermore, the EBITDA for 2018 is 1.3 million euros, an increase of 52.79% over the previous year. This indicator is specially relevant as it shows FacePhi’s ongoing improvement over the past year and its ability to continue growing. This improvement is due to the increase in sales and a greater expense containment.
The company’s significant progression in its balance has also been translated to the net result of the year. Thus the company has managed to increase its net profit by 151.67% in contrast with 2017, standing at 1,190,664 euros.
FacePhi CEO, Javier Mira, emphasizes that “the figures we have achieved this year show a consolidation of our business position as a benchmark in the field of fintechand biometric technology”. “Our biometric recognition technology continues to arouse great interest among banking entities, which give us good prospects for the next financial year”.
The international growth of the company has been strengthened with the opening of a new market in October thanks to the agreement signed with Banco Visión of Paraguay, considered the first banking entity in this country. Through this agreement, the banking entity has implement the Selphy and SelphID technology in its web and mobile banking channels offered to its users.
FacePhi’s evolution has taken an important step forward with the launch of its new product inPhinite, which was revealed worldwide at the Money 2020 Conference held last October in Las Vegas. This comprehensive solution combines six facial, fingerprint, optical, voice and signature recognition tools, designed specifically to identify the user, which turns the product into a “zero risk” security system unique on the market.
In addition of this conference in Las Vegas, the company has completed its marketing and promotion strategy in past editions of Money 2020 with its attendance at the Singapore edition in the first quarter of 2018, as well as its participation in the Celaes meeting held in Miami. The aim is to promote the presence of its technology in the American, European and Asian markets.