According to the company’s audited results, which were published today, net revenue has increased by 83% compared to 2018
FacePhi’s outcome continue to grow, as confirmed by the audited accounts for 2019, which were presented today and observed in advance in January. The accounts corroborate an increase in EBITDA of 140.37% with respect to 2018, after obtaining a net revenue of 8.19 million euros. Thus, according to the audited data of the previous financial year, EBITDA has reached a result of over 3.07 million euros, compared to the figure recorded in 2018, which reached 1.28 million euros.
The gross profit reflects FacePhi’s strong financial year in 2019, when it broke its own record with net revenue growing by 83% over the previous year. The technology company’s annual accounts reflect the significant increase in its client portfolio, especially in the Latin American market, as well as the strategic alliance it began to develop in its technological projects with institutions such as CaixaBank, in addition to boosting its activity in the Asian market through the foundation of its first international headquarters in South Korea to enter the Asia-Pacific market.
The good performance of its client portfolio has also been extrapolated to the stock market price levels over the last year in the MAB, where the listed company has been active since 2014. In fact, it was considered to be the value that experienced the greatest growth in the Spanish stock market during 2019 with an increase of 316% in value.
Steady Growth
The Spanish technology company, leader in biometric recognition solutions, maintains its upward trend since 2017. The comparison from this year with the results of the last full financial year raises the EBITDA results to a year-on-year growth of 89.58%. The increase over the last three years has been steady, but we can talk about a fresh boost in 2019 that consolidates the company as a benchmark in the sector.
During 2019, FacePhi has consolidated its position in the LATAM area, where more than 10 agreements have been signed for the provision of its services with leading banking institutions and also in the health sector. Among the signed contracts are those with the Mexican platform Albo; in Panama with the financial institution Banesco and Banco General; as well as Banco de Crédito de Perú, Banco del Sol and Banco Supervielle, both in Argentina, Banco Bolivariano de Ecuador, the HSBC banking group in Uruguay, and the Argentinean insurance company Swiss Medical Group, among others.
In addition, FacePhi has strengthened its financial situation by carrying out a corporate operation this past year through the investment agreement signed with Nice&Green worth 4 million euros, which will enable the company to strengthen its organic growth and accelerate the business growth in the Asian and Latin American markets.
FacePhi’s CEO, Javier Mira, has expressed a sense of optimism “despite the uncertain times we are going through worldwide due to the COVID-19 crisis”. “It is true that international economies are going to go through a rough patch, from which I believe they will be able to recover quickly. However, for our contactless and secure identification technology products, new opportunities are opening up,” says Mira. In this sense, he adds that the current health crisis is going to change many behaviors of companies and end customers and new technological applications will be needed to meet these new demands.
