Kvartalsrapport Q1 2023

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===== SIDA 1 =====

Year-End Report 2023 
 Precise Biometrics AB (publ), corp. ID no. 556545-6596 1

===== SIDA 2 =====

INTERIM REPORT FOR THE PERIOD JANUARY TO MARCH 2023 
 
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===== SIDA 3 =====

2023 2022 2022 Rolling
Amounts in SEK thousands unless otherw ise stated Q1 Q1 Full-year 12 mth
Net sales 19 150 28 312 91 018 81 856
Net sales grow th, % -32,4% 39,4% 9,2% -10,4%
EBITDA -625 4 020 1 147 -3 497
Gross margin, % 64,8% 76,7% 71,5% 68,1%
Operating profit/loss -6 862 -802 -20 016 -26 076
Operating margin, % -35,8% -2,8% -22,0% -31,9%
Cash flow  from the operating activities -5 810 7 103 3 931 -8 982
Cash and cash equivalents 34 434 57 816 46 405
Annual Recurring Revenue* 17 274 N/A 16 190

===== SIDA 4 =====



===== SIDA 5 =====

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===== SIDA 6 =====

"I look forward to continuing to commercialize our 
position as a leading global supplier of 
identification software.”

===== SIDA 7 =====

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===== SIDA 11 =====



===== SIDA 12 =====

Year-End Report 2023 
 Precise Biometrics AB (publ), corp. ID no. 556545-6596 12

===== SIDA 13 =====

2023 2022 2022 Rolling
Amounts in SEK thousand Note Q1 Q1 Full-year 12 mth
Net sales 2,3 19 150 28 312 91 018 81 856
Cost of goods sold -6 741 -6 606 -25 982 -26 117
Gross profit 12 409 21 706 65 036 55 739
Marketing and sales expenses -6 806 -9 134 -34 796 -32 468
Administrative expenses -3 516 -4 447 -17 613 -16 682
R&D expenses -8 911 -9 863 -34 905 -33 953
Other operating income/expenses -39 937 2 262 1 286
-19 271 -22 508 -85 052 -81 815
Operating profit/loss -6 862 -802 -20 016 -26 076
Finacial income/expenses 4 -166 -446 -3 453 -3 173
Profit/Loss before tax -7 028 -1 248 -23 469 -29 249
Tax 87 86 1 239 1 240
Profit/loss for the period attributable 
to parent company shareholders -6 941 -1 162 -22 230 -28 009
Earnings per share, remaining operations, SEK*
   - before dilution -0,15 0,00 -0,48 -0,62
   - after dilution -0,15 0,00 -0,48 -0,62
CONSOLIDATED STATEMENT OF 
COMPREHENSIVE INCOME
Profit/Loss for the period -6 941 -1 162 -22 230 -28 009
Other comprehensive income:
Items that may be reclassified to profit or loss
Changes in accumulated exchange rate 
differences -13 47 267 207
Other comprehensive income for the period -13 47 267 207
Profit/Loss total attributable to 
holders of participations in the 
parent company -6 954 -1 115 -21 963 -27 802

===== SIDA 14 =====

Amounts in SEK thousand
ASSETS Note 2023-03-31 2022-03-31 2022-12-31
FIXED ASSETS
Material assets 8 700 10 715 9 090
Goodw ill and immaterial assets 138 931 136 331 138 898
TOTAL FIXED ASSETS 147 631 147 046 147 988
CURRENT ASSETS
Inventories 311 441 311
Accounts receivable 16 355 14 737 11 478
Other current receivabels 3 400 844 3 643
Accruals and deferred income 2 620 2 921 3 397
Cash and cash equivalents 4,6 34 434 57 819 46 405
TOTAL CURRENT ASSETS 57 120 76 759 65 234
TOTAL ASSETS 204 751 223 805 213 222
EQUITY AND LIABILITIES
EQUITY
Equity 138 925 126 805 146 302
TOTAL EQUITY ATTRIBUTABLE TO PARENT 
COMPANY SHAREHOLDERS 138 925 126 805 146 302
LONG-TERM DEBT
Long term debt 6 25 237 40 104 25 350
TOTAL LONG-TERM DEBT 25 237 40 104 25 350
SHORT-TERM LIABILITIES
Short-term liabilities 4,6 40 589 56 896 41 570
Total Short-term liabilities 40 589 56 896 41 570
TOTAL EQUITY AND LIABILITIES 204 751 223 805 213 222

===== SIDA 15 =====

2023 2022 2022 Rolling
Amounts in SEK thousand Note Q1 Q1 Full-year 12 mth
Cash flow from operating activities
Operating profit/loss -6 862 -802 -20 016 -26 076
Adjustments for items not included in cash flow 6 241 4 561 21 188 22 868
Interest payments, net -44 -85 -299 -258
Tax paid -4 -3 -21 -22
Cash flow from operating activities -669 3 671 852 -3 488
before changes in working capital
Cash flow from changes in working capital
Change in inventories 0 107 237 130
Change in current receivables -3 868 10 883 11 075 -3 676
Change in current liabilities -1 273 -7 558 -8 233 -1 948
-5 141 3 432 3 079 -5 494
Cash flow from operating activities -5 810 7 103 3 931 -8 982
Acquisition of subsidiaries 6 0 -7 907 -38 268 -30 361
Investment in fixed assets -17 0 -284 -301
Investment in intangible assets -5 191 -4 915 -21 456 -21 732
Cash flow from investing activities -5 208 -12 822 -60 008 -52 394
New  share issue 0 0 44 319 44 319
Commission expenses -423 -130 -3 936 -4 229
Repurchase of ow n shares 0 0 -326 -326
Payment for sale/buy-back of options 0 -3 156 159
Payment of lease liability -529 -447 -1 900 -1 982
Cash flow from financing activities -952 -580 38 313 37 941
Total Cash flow -11 969 -6 298 -17 765 -23 436
Cash & cash equivalents at beginning of year 46 405 64 102 64 102 57 816
Exchange rate differences in cash & cash equivalents -2 12 67 53
Cash & cash equivalents at end of period 34 434 57 816 46 405 34 434

===== SIDA 16 =====

Amounts in SEK thousand 2023 2022 2022 Rolling
Note Q1 Q1 Full-year 12 mth
Equity at start of period 146 302 128 053 128 053 146 302
Comprehensive income
Profit/loss for the period -6 941 -1 162 -22 230 -28 009
0
Other comprehensive income 0
Exchange differences -13 47 267 207
Total other comprehensive income -13 47 267 207
Total comprehensive income -6 954 -1 115 -21 963 -27 802
0
Transactions with shareholders 0
Stockoptions 5 0 -3 156 159
Repurchase of ow n shares 5 0 0 -326 -326
Set-off issue 0 0 0 0
New  share issue 0 0 43 993 43 993
New  issue cost -423 -130 -3 936 -4 229
Total transactions w ith shareholders -423 -133 40 212 39 922
Equity end of period 138 925 126 805 146 302 158 423

===== SIDA 17 =====

2023 2022 2022 Rolling
Amounts in SEK thousand  Q1 Q1 Full-year 12 mth
Segment 
Algo 
Royalty 4 085 10 230 21 150 15 005
Licenses, incl. support & maintenance 8 838 11 164 42 046 39 720
Other 1 103 876 4 634 4 860
Digital Identity 
Royalty 0 0 0 0
Licenses, incl. support & maintenance 4 329 4 341 15 954 15 942
Other 795 1 700 7 236 6 331
Total 19 150 28 312 91 018 81 856
Timing of revenue recognition*
At point in time 1 965 3 357 12 664 11 272
Over time 17 185 24 955 78 354 70 584
Total 19 150 28 312 91 018 81 856
Region/Country
Europe 7 237 7 350 27 218 27 104
   - w hereof Sw eden 5 393 5 385 20 737 20 745
Asia 8 406 17 650 51 039 41 795
   - w hereof China 1 320 3 856 15 364 12 828
   - w hereof Taiw an 6 067 11 718 29 576 23 925
USA 3 520 3 312 12 762 12 970
Total 19 150 28 312 91 018 81 856

===== SIDA 18 =====

Amounts in SEK thousand
Algo Digital 
Identity 
Total 
Segment Algo Digital 
Identity 
Total 
Segment Algo Digital 
Identity 
Total 
Segment Algo Digital 
Identity 
Total 
Segment
Net sales 14 026 5 124 19 150 22 271 6 041 28 312 67 829 23 189 91 018 59 584 22 272 81 856
Cost of goods sold -2 484 -4 257 -6 741 -2 524 -4 082 -6 606 -9 070 -16 913 -25 982 -9 030 -17 088 -26 117
Gross profit 11 542 867 12 409 19 747 1 959 21 706 58 759 6 277 65 036 50 554 5 185 55 739
Other information
Reconciliation profit/Loss 
Q1         
2023
Q1       
2022
Full-year     
2022
Rolling      
12 mth
Segment profit/Loss 12 409 21 706 65 036 55 739
Marketing and sales expenses -6 806 -9 134 -34 796 -32 468
Administrative expenses -3 516 -4 447 -17 613 -16 682
R&D expenses -8 911 -9 863 -34 905 -33 953
Other operating income/expenses -39 937 2 262 1 286
Finacial income/expenses -166 -446 -3 453 -3 173
Profit/Loss before tax -7 028 -1 247 -23 469 -29 250
Only net sales and product costs are allocated to each segment. Other costs are not allocated at segment level as 
these items relate to group operations
Q1
2023 2022 Rolling 
Full-year 12 mth
2022
Q1

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===== SIDA 20 =====

2023 2022 2022 Rolling
Amounts in SEK thousand Note Q1 Q1 Full-year 12mth
Net sales 1 14 177 23 831 72 048 62 394
Cost of goods sold -8 450 -9 155 -33 203 -32 498
Gross profit 5 727 14 676 38 845 29 896
0
Marketing and sales expenses -4 891 -7 212 -27 356 -25 035
Administrative expenses -3 269 -3 448 -16 567 -16 388
R&D expenses -5 271 -6 586 -19 903 -18 588
Other operating income/expenses -85 -929 2 287 3 131
-13 516 -16 317 -61 539 -58 738
0
Operating profit/loss -7 789 -1 641 -22 694 -28 842
0
Financial income/expenses -103 -382 -3 196 -2 917
0
Group contributions received 0 0 6 045 6 045
0
Profit/loss before tax -7 892 -2 023 -19 845 -25 714
0
Tax 0 0 0 0
Profit/loss for the period* -7 892 -2 023 -19 845 -25 714

===== SIDA 21 =====

Amounts in SEK thousand
ASSETS Note 2023-03-31 2022-03-31
Fixed assets
Fixed assets 2 510 3 467
Immaterial assets 39 126 40 342
Deferred tax assets 90 558 90 558
TOTAL FIXED ASSETS 132 194 134 367
CURRENT ASSETS
Inventories 311 441
Accounts receivable 12 667 12 963
Accounts receivable Group 844 -
Other receivables 8 795 1 045
Accruals and deferred income 2 214 2 637
Cash and cash equivalents 22 613 43 825
TOTAL CURRENT ASSETS 47 444 60 911
TOTAL ASSETS 179 638 195 278
EQUITY AND LIABILITIES
Restricted Equity
Share capital 14 254 11 879
Paid-in unregistered share capital - -
Statutory reserve 1 445 1 445
Reserve for development expenses 26 672 24 655
Total restricted equity 42 370 37 979
Unrestricted Equity
Share premium reserve 137 635 99 920
Retained earnings -42 965 -20 937
Profit/loss for the year -7 892 -2 023
Total non-restricted equity 86 777 76 961
Total Equity 129 147 114 939
LONG-TERM DEBT
Long term debt 16 866 29 126
TOTAL LONG-TERM DEBT 16 866 29 126
SHORT-TERM LIABILITIES
Short-term liabilities 33 625 51 213
Total Short-term liabilities 33 625 51 213
TOTAL EQUITY AND LIABILITIES 179 638 195 278

===== SIDA 22 =====

2023 2022 2022 Rolling
Amounts in SEK thousands unless otherw ise stated Q1 Q1 Full-year 12 mth
Net sales 19 150 28 312 91 018 81 856
Net sales grow th, % -32,4% 39,4% 9,2% -10,4%
Gross margin, % 64,8% 76,7% 71,5% 68,1%
EBITDA -625 4 020 1 147 -3 497
Operating profit/loss -6 862 -802 -20 016 -26 076
Working capital * 26 410 44 567 33 498 26 410
Capital employed 138 925 166 909 146 302 138 925
Liquidity ratio, % 140,0% 134% 156,0% 140%
Equity/assets ratio, % 67,9% 56,7% 68,6% 67,9%
Earnings per share before dilution, SEK -0,15 0,00 -0,47 -0,62
Earnings per share after dilution, SEK -0,15 0,00 -0,47 -0,62
Equity per share, SEK 2,92 3,20 3,08 2,92
Number of shares (thousands) 47 513 39 596 47 513 47 513
Weighted avg. number of shares, adjusted for dilution 
effect (thousands) 47 513 39 596 41 304 43 374
Number of employees at the end of the period 32 30 30 32
Average number of employees during the period 31 31 30 31
Annual Recurring Revenue*** 17 274 - 16 190 17 274

===== SIDA 23 =====

Amounts in SEK thousands 2023 2022 2022 Rolling
unless otherw ise stated Q1 Q1 Full-year 12 mth
Net sales 19 150 28 312 91 018 81 856
Net sales grow th, % -32,4% 39,4% 9,2% -10,4%
Gross profit 12 409 21 706 63 036 55 739
Net sales 19 150 28 312 91 018 81 856
Gross margin, % 64,8% 76,7% 71,5% 68,1%
Operating profit/loss -6 862 -802 -20 016 -26 076
Net sales 19 150 28 312 91 018 81 856
Operating margin, % -35,8% -2,8% -22,0% -31,9%
EBITDA -625 4 020 1 147 -3 497
Depreciation and amortization -6 237 -4 821 -21 163 -22 579
Operating profit/loss -6 862 -802 -20 016 -26 076
Current assets 57 120 76 759 65 234 45 595
Current liabilities excl. current liabilities EastCoast 
International 30 710 32 349 31 736 30 097
Working capital * 26 410 44 410 33 498 15 498
Sales expenses -6 806 -9 134 -34 796 -32 468
Administrative expenses -3 516 -4 447 -17 613 -16 682
R&D expenses -8 911 -9 863 -34 905 -33 953
Other operating income/expenses -39 937 2 262 1 286
Total operating expenses -19 272 -22 507 -85 052 -81 817
Balance sheet total 204 751 223 805 213 222 204 751
Non-interest-bearing liabilities * 65 826 97 000 66 930 65 826
Capital employed 138 925 126 805 146 302 138 925
Closing equity 138 925 126 805 146 302 138 925
Average equity 140 939 115 952 137 909 140 939
Current assets minus inventories 56 809 76 318 64 923 56 809
Current liabilities 40 589 56 896 41 570 40 589
Liquidity ratio, % 140% 134% 156% 140%
Equity 138 925 126 805 146 302 138 925
Total assets 204 751 223 805 213 222 204 751
Equity/assets ratio, % 67,9% 56,7% 68,6% 67,9%

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===== SIDA 25 =====