Kvartalsrapport Q1 2024

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1 
Interim Report Jan-Mar 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  
Q1  
PRECISE BIOMETRICS  
INTERIM REPORT JAN-MAR 2024

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Interim Report Jan-Mar 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
 
 
 
times/second 
all year round 
 
Precise technology  
is used 
100K 
 
Precise Biometrics (Precise) is a global pioneer in the field of biometric IT security solutions. The offering includes algorithm 
products for fingerprint, facial and hand recognition, as well as end -customer products for biometric access (YOUNiQ 
Access) and visitor management (YOUNiQ Visit). Our focus areas are biometric authentication for mobile phones, laptops, 
security keys and smart locks, vehicle applications for in -car payment, driver authentication and personal settings/access – 
as well as specialized systems for visitor management and physical biometric access control. Precise operates through two 
main business areas, Digital Identity and Biometric Technologies, and operates from its offices in Lund (HQ) and Stockholm, 
Sweden, Potsdam NY, USA, Seoul, South Korea, Taipei, Taiwan and Shanghai, China. The Precise share is listed on the Nasdaq 
Stockholm (PREC). Find out more at www.precisebiometrics.com.

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Interim Report Jan-Mar 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
TABLE OF CONTENTS 
Q1 2024 IN BRIEF ............................................................................................................................................................................. 4 
PRESENTATION AND Q&A ........................................................................................................................................................... 5 
CEO COMMENTS .............................................................................................................................................................................. 6 
UPDATE FROM THE BUSINESS AREAS ..................................................................................................................................... 8 
CUSTOMER OFFERING ................................................................................................................................................................. 11 
NET SALES AND OPERATING PROFIT/LOSS ........................................................................................................................ 13 
CONSOLIDATED INCOME STATEMENT,  IN SUMMARY ................................................................................................. 16 
CONSOLIDATED BALANCE SHEET,  IN SUMMARY ............................................................................................................ 17 
CONSOLIDATED CASH FLOW STATEMENT ......................................................................................................................... 18 
CHANGE IN EQUITY (GROUP) ................................................................................................................................................... 19 
NOTES ................................................................................................................................................................................................. 20 
PARENT COMPANY INCOME STATEMENT,  IN SUMMARY ........................................................................................... 23 
PARENT COMPANY BALANCE SHEET,  IN SUMMARY ..................................................................................................... 24 
CONSOLIDATED KEY INDICATORS .......................................................................................................................................... 25 
ALTERNATIVE CONSOLIDATED KEY INDICATORS ............................................................................................................. 26 
ANALYSIS OF RESULTS ................................................................................................................................................................. 27 
FINANCIAL GLOSSARY  ............................................................................................................................................................... 28

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Interim Report Jan-Mar 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
Q1 2024 IN BRIEF 
INCREASED REVENUE AND POSITIVE EBITDA  
 
FIRST QUARTER   
▪ Net sales totaled SEK 21.7 (19.2) million. 
▪ EBITDA totaled SEK 3.1 (–0.6) million. 
▪ The operating profit/loss for the quarter totaled SEK –2.8 (–6.9) million. 
▪ Earnings for the period totaled SEK –3.0 (–6.9) million.  
▪ Earnings per share totaled SEK –0.0 (–0.2). 
▪ Cash flow from operations totaled SEK –2.8 (–5.3) million. 
▪ Cash and cash equivalents totaled SEK 41.1 (34.4) million. 
▪ ARR (Annual Recurring Revenue) at the end of the period was SEK 18.3 (17.3 million) 
SIGNIFICANT EVENTS DURING THE QUARTER 
▪ Signed commercial agreement with Korean sensor manufacturer LaserSemicon (formerly CanvasBio) 
▪ Launched palm recognition – a new addition to the company’s product portfolio 
▪ Showcased the biometric security solutions of the future at the Confederation of Swedish Enterprise’s 
Företagardagarna 2024 event 
▪ Strengthened position in Benelux through local sales team 
SIGNIFICANT EVENTS AFTER THE QUARTER 
▪ Extended partnership with Flowscape Technology and signed new customer agreement 
▪ Demonstrated biometric recognition solutions at ISC West and Embedded World 
FINANCIAL DATA AND KEY INDICATORS 
Amounts in SEK thousands unless otherwise stated 
 
 
See the Financial Glossary for definitions. 
  
2024 2023 2023 Rolling
Amounts in SEK thousands unless otherwise stated Jan-Mar Jan-Mar Full-year 12 months
Net sales 21 684 19 150 75 069 77 603
Net sales growth, % 13,2% -32,4% -17,5% -5,2%
EBITDA 3 069 -625 -1 691 2 002
Gross margin, % 72,2% 64,8% 63,7% 65,8%
Operating profit/loss -2 826 -6 862 -26 458 -22 423
Operating margin, % -13,0% -35,8% -35,2% -28,9%
Cash flow from the operating activities -2 832 -5 810 -10 760 -7 781
Cash and cash equivalents 41 148 34 434 47 534 41 148
Annual Recurring Revenue* 18 317 17 274 18 307 18 317

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Interim Report Jan-Mar 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
PRESENTATION AND Q&A 
Precise Biometrics has published a video in connection with today’s interim report, which includes an interview with CEO Joakim 
Nydemark. The video is available on the Investor Relations page: https://precisebiometrics.com/sv/investerare/ 
The material in the video is designed to complement the report and provide additional depth and better understanding of the 
stock market for the company’s business operations. 
The company also invites you to a live Q&A that starts at 10:00 AM (CET) on May 14, 2024. 
To take part in the Q&A session, access it via the interactive video player on the Investor Relations page here: 
https://precisebiometrics.com/investors  
  
Questions can be asked directly in the chat function in the interactive player or submitted in advance to 
investor@precisebiometrics.com.

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Interim Report Jan-Mar 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
 
CEO COMMENTS
2024 has hit the ground running, characterized by 
intensive customer -focused and marketing activities, 
including attendance at most trade fairs in Europe and 
the USA, the opening of a sales office in the Netherlands, 
and new customer and partnership agreements.  
I am pleased that the positive trend from Q4 continued 
during Q1, with an increase in net sales to SEK 21.7 (19.2) 
million and a noticeable improvement in the operating 
profit before depreciation (EBITDA) to SEK 3.1 ( –0.6) 
million. Had it not been for two slightly delayed customer 
payments totaling SEK 11 million (the payments were 
registered at the beginning of April), cash flow for the 
quarter would also have been strong. With net sales 
moving in the right direction and a positive profit before 
depreciation, I have an optimistic view of the future. 
In addition to a strong focus on customers and intensive 
marketing within our two business areas, we have 
continued to work on streamlining our processes in order 
to further accelerate our progress towards profitable 
growth. Precise Biometrics has consolid ated its world -
leading position in biometrics with several new partner 
agreements and collaborations, and is in a stronger 
position than ever. We now have a well -positioned, 
diversified product portfolio focused on products 
including ultrasound sensors, wh ich have both higher 
growth and better margins than other types of sensors, 
which bodes well for the future.  
OUR BUSINESS AREAS AND OUR 
BUSINESS 
In our Digital Identity business area, where we offer visitor 
and access systems with biometrics, we have boosted our 
strength with additional sales resources in the USA through 
our partners Genetec and Flowscape Technologies, resulting 
in a significant in crease in our pipeline of potential new 
customers. We have also opened a local sales office in 
Amsterdam to target Benelux, and in due course other parts 
of Europe. Safety and security are becoming increasingly 
important, driving demand for biometric access systems such 
as YOUNiQ Access in workplaces, public buildings and homes. 
We are also seeing more secure, more efficient visitor systems 
contributing to increased security and a better customer 
experience, which we feel has increased demand for YOUNiQ 
Visit. 
The mobile market has started to show signs of growth, 
especially when it comes to demand for more complex 
ultrasound sensors and software solutions that meet 
increased security requirements, which benefits our business 
in the Biometric Technologies business area. Our positioning 
with algorithms for the latest generation of fingerprint 
sensors based on ultrasound continues to create good 
conditions for growth in 2024 and beyond. 
The launch of our latest product and modality for palm 
recognition also strengthens our offering going forward, and 
enables us to address even more customers, verticals, and 
areas of application. Plam recognition is currently available as 
a software algorithm product , but is also seamlessly 
integrated into our products for access management 
(YOUNiQ Access) and visitor management (YOUNiQ Visit) . 
Adding palm recognition to the company’s biometric product 
portfolio further enables biometric multi -factor 
authentication (MFA), further increasing the level of security 
and prov iding organizations with customizable 
authentication and identification options tailored to their 
specific needs and meeting various regulatory requirements. 
NEW PARTNER AGREEMENTS 
New partner agreements and extended partnerships are 
naturally important components in the company’s journey of 
growth, and there are two partnerships that I am particularly 
proud of and would like to highlight. One is the extended 
partnership with Flowscape Technology,  a listed building 
technology company. The agreement gives Flowscape the 
right to sell YOUNiQ Visit globally and entails a significant 
expansion of Precise Biometrics’ international selling power.  
“We are delighted to further deepen our 
collaboration with Precise, which is a leader 
in its category. In our efforts to offer 
innovative, high-quality solutions to our 
customers in the area of Smart Office, this 
type of high-tech system is an important 
competitive advantage that strengthens our 
offering to customers. The fact that we have 
already signed an agreement with a customer 
in the UK as a result of the collaboration is a 
clear confirmation of this.” 
Peter Reigo, CEO of Flowscape Technology

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Interim Report Jan-Mar 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
The second is the partnership with Infineon Technologies, 
which has been further strengthened during the quarter. This 
has included several joint marketing activities such as the 
Consumer Electronics Show (CES) in the USA and Embedded 
World in Germany. Dis cussions are also underway about 
further deepening the collaboration in order to win more joint 
business. There is a lot going on in the automotive industry 
in general, where many new services in the vehicles of the 
future will require payment and biometri c authentication. 
Biometrics in the automotive industry is expected to grow by 
more than 23% a year over the next five years, which creates 
excellent opportunities for Precise Biometrics, as Infineon’s 
only Premium partner in biometrics in the automotive vertical. 
MARKET DEVELOPMENT 
Safety and security are important values that Precise delivers 
hundreds of thousands of times every single second when our 
world-leading biometric technology makes the individual the 
key to unlock doors, mobile phones, computers, and cars, or 
to create secure authentication when making a payment. 
There is no doubt that biometrics represents the way ahead 
for personal identification and authentication in a number of 
different areas. As a pure software company, we have the 
opportunity to quickly adapt to mark et requirements, and 
thus further strengthen our position in this future, as many of 
our competitors who also build hardware do not have the 
facility to make the switch as quickly.  
You can rely on the entire Precise team working incredibly 
hard to take the company to new heights. I am looking 
forward to the continuation of 2024, as we, with increased 
market presence, high -quality products, and more efficient 
sales and delivery proces ses, will maintain a full focus on 
creating both growth and profitability. 
Joakim Nydemark  
 CEO 
 
 
  
“My top three: 
▪ Biometrics are more in demand than ever. 
▪ Our focus on sales and cost savings has 
paid off. 
▪ The positive trend from Q4 is continuing, 
and 2024 looks promising with  
new customer projects and an  
extended offering with palm  
recognition.” 
 
CEO Joakim Nydemark

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Interim Report Jan-Mar 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
UPDATE FROM THE BUSINESS AREAS 
BIOMETRIC TECHNOLOGIES 
Precise is experiencing increased interest in biometric 
solutions, where increased security, multi -factor 
authentication and a good user experience are driving factors. 
Collaboration with important partners continues to be 
deepened, and new partners are being added on an ongoing 
basis, driving business in the right direction. Equally 
important is the fact that the company is well positioned for 
the future and the next generation of products, for example 
with algorithms for ultrasound sensors and hand recognition.  
THE AUTOMOTIVE INDUSTRY 
The collaboration with Infineon Technologies is developing 
well, and the first vehicles with the shared fingerprint solution 
are expected to reach the market before the end of the year.  
Interest in biometric authentication in vehicles is growing, 
and one important reason for this is that in -vehicle payment 
will become increasingly common and important. In addition, 
vehicles are increasingly becoming a software product – SDV 
(Software Defined Vehicle). SDV is a central concept and 
means that the hardware is installed during the manufacture 
of the vehicle, after which continuous updates of functions 
are made by downloading new software. Vehicles are also 
being fitted with  more and more senso rs, which, combined 
with new, stricter requirements for road safety and safety in 
the vehicle, opens up new opportunities for authentication 
and for Precise. 
 
PALM RECOGNITION 
During the quarter, Precise launched its latest modality, palm 
recognition. This product is available both as algorithm 
technology for sensor manufacturers and as an end-customer 
product integrated into the access and visitor systems 
YOUNiQ Access and YOUNiQ Visit. The benefits of palm 
recognition include a clear intention when used, the fact that 
the technology is touchless, and that it offers a simple user 
experience. Examples of applications are payment and door 
access. Precise palm recognition was presented to customers 
for the first time at a security fair in the USA in April, where it 
was extremely well received.  
INCREASED SECURITY WITH 
LIVENESS AND MFA 
Liveness and fraud detection, where the Precise product 
BioLive has a unique position on the market, are more 
relevant than ever. When biometrics are used in systems with 
a high level of security, there is also an increased need to 
protect against fraud, for example in the form of impressions 
of fingerprints or photos of faces. Biometrics generally has a 
very high level of security, but with Precise BioLive, which is 
optimized to detect false impressions and images, and to 
verify that the biometric impressi on belongs to a living 
individual, the very highest security demands in the world can 
be met. In addition to increased security, BioLive also 
contributes to a better and faster user experience. 
Precise has also been investing resources in Multi Factor 
Authentication (MFA) for some time now, which means that 
more than one identification method is required for physical 
or digital access. Precise has three modalities (face, hand and 
finger) that, to gether with the company’s expertise and 
technology, offer great opportunities in the field of MFA – an 
area that is included in, among others, the EU’s new NIS2 
regulations on cyber security.

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Interim Report Jan-Mar 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
MOBILE MARKET AND 
ULTRASOUND SENSORS 
After a period of lower volumes in mobile phones, the 
number of mobile phones manufactured has now started to 
rise again. Precise is well positioned in the mobile market, 
with strong partners such as Qualcomm and EgisTech, but has 
also created a strong and strategic position as one of the very 
few suppliers in the world of fingerprint algorithms for 
ultrasound sensors. The new generation of mobile screens 
requires the more advanced ultrasound sensors to read the 
fingerprint through the m obile screen, as ver y little light 
passes through.  
Together with its partners, Precise has an almost unique 
opportunity to take new market shares, and there is also a 
higher margin in the ultrasound sensors segment. There are 
already products on the market with Precise’s ultrasound 
algorithm, but with more  of the new generation of displays, 
demand will increase.  
 
 
MORE VERTICALS 
With a long history as a supplier to the mobile industry, 
Precise is now continuing to expand its offering into new 
verticals. The automotive industry, smart locks, security 
tokens and laptops are all important segments. One concrete 
example of this is Inf ineon, but the partnership agreement 
with the Korean sensor manufacturer LaserSemicon (formerly 
CanvasBio) is also exciting, with the first laptops with a shared 
solution coming to market shortly.

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Interim Report Jan-Mar 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
 
DIGITAL IDENTITY 
The current security situation strengthens Precise’s position 
in the fields of both access and visitor systems, and the 
business area is a hive of activity. The fourth quarter was the 
best ever, while sales in the first quarter were slightly lower, 
which was expected and normal for Q1. Sales are, however, 
largely on track, and we see extremely high levels of interest 
and potential going forward.  
EXTENDED COLLABORATION WITH 
FLOWSCAPE 
Precise extended its collaboration with Flowscape through a 
global partnership agreement covering all markets in which 
they operate. This extended collaboration has already 
resulted in one new customer  – a large global consultancy 
company. 
MORE SALES RESOURCES AND 
OPENING OF SALES OFFICE IN THE 
NETHERLANDS 
During the quarter, a sales office was opened in the 
Netherlands, which will initially target the Benelux countries, 
and in due course additional markets as well. The level of 
interest and activity has been good, and the first customer 
has already implemen ted a pilot project. Precise has also 
boosted its strength with additional sales resources in the 
USA, as well as further extending its collaboration with 
existing partners such as Genetec. 
NEW CUSTOMERS 
In recent months, Precise has signed many new customers up 
for YOUNiQ Visit, several of whom are large international 
companies that are implementing YOUNiQ across the 
majority of their offices. We are seeing a general increased 
level of interest in YOUNiQ Visit, the main reasons for such 
investment being stricter requirements for security, an 
ambition to become more customer -friendly, and a need to 
create more efficient administration.  
PALM RECOGNITION 
The new palm recognition modality is also being integrated 
into YOUNiQ Access and Visit as a complement to facial and 
QR codes. One major benefit of palm recognition is that the 
hand movement indicates a clear intention. When YOUNiQ 
Access with palm recognition was presented at one of the 
world’s largest security fairs, ISC in Las Vegas, there was a 
great deal of interest. The product is hardware -independent, 
needing just a sufficiently good camera, but we are also 
collaborating with hardware partners  such as American 
Hand.ID to create an optimal user experience.  
“We are proud to be working with Precise, as 
they are the global leader in premium 
biometric technologies. Precise is the natural 
choice for collaboration for our hand-held 
reader unit, and their performance and 
expertise in the field of biometrics has 
impressed us a lot. Together, we are ready to 
deliver solutions that take biometric 
authentication to the next level.” 
Ken Brownlee, CEO of Hand.ID 
 
NEW RELEASES AND ROADMAP 
New releases of both YOUNiQ products were launched 
during the quarter, and there is a clear roadmap going 
forward, which includes both new functionality and further 
improved security and compatibility with different security 
standards. 
PERSONAL PRIVACY AND SECURITY 
Both of these areas are important to us, and we work 
continuously to both increase our customers’ security and at 
the same time ensure customers’ personal privacy. We also 
work to comply with the various industry standards and 
regulations that are in place . More information about this 
work is available at precisebiometrics.com.

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Interim Report Jan-Mar 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
CUSTOMER OFFERING
In a society where security is becoming increasingly central, 
Precise Biometrics helps to create increased peace of mind. 
This is done by developing innovative technological solutions 
in the field of biometric recognition, where simplicity and a 
first-class user experience are combined with a very high level 
of security because “YOU are the key”. Instead of using a PIN 
code, password, key, card, etc. to authenticate yourself, you 
use your finger, face, or palm.  
There are areas of application in both digital and physical 
access, and the applications can be found in, for example, 
mobile phones, laptops, smart locks, security keys and 
vehicles, and in visitor and access systems. 
The offering consists of algorithm products, basic technology, 
which component manufacturers use in their products, and 
also end -customer products for access and visitor 
management. The focus of all solutions is to combine high 
security with a first -class user experience through 
outstanding technology, based on AI and Deep Learning. 
  – YOU ARE THE KEY 
 
WHY PRECISE? 
▪ Unique knowledge, as biometrics has been 
our core business for 25 years. 
▪ Established on the global market, our 
technology is used more than 100,000 times 
per second, all year round. 
▪ Large customer base and a global footprint in 
the world of biometrics. 
▪ Hardware-independent, handling several 
different biometric modalities such as finger, 
hand, and face. 
▪ Public company
   are 
the key
 ccess   visitor management systems
Other embedded use cases
Smart locks
Security tokens
Laptops
 obile phones
 utomotive
   are 
the key

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Interim Report Jan-Mar 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
THE COMMERCIAL BENEFIT OF BIOMETRIC RECOGNITION 
The commercial benefit of biometric recognition solutions 
can be divided into internal company factors and external 
environmental factors. The internal factors relate to areas 
such as security, efficiency, user -friendliness, customer 
service, compliance, and scalability, while the external factors 
primarily concern the rapid development of technology and 
AI, and the uncertain security situation.
 
OUR PRODUCTS 
 
  
End-customer products for access and 
visitor management 
Algorithm products for biometric 
recognition 
 
▪ YOUNiQ Access is our access solution for 
doors based on biometrics, such as facial 
recognition. 
▪ YOUNiQ Visit  (EastCoast Visit in Sweden) is 
our visitor management solution. 
 
▪ BioMatch is our fingerprint matching product. 
▪ BioLive is our product to prevent fraud using 
false fingerprints. 
▪ BioEnhance is our product for image 
enhancement, e.g., regarding fingerprints 
before matching. 
 ega  acro  icro
Trends
Scalability
Compliance
User Experience
 educed  isk of  raud
Convenience
Security
    are 
the key

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Interim Report Jan-Mar 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
 
NET SALES AND OPERATING 
PROFIT/LOSS 
NET SALES FOR THE QUARTER 
Net sales during the quarter increased to SEK 21.7 (19.2) 
million, representing an increase of 13.2%, and net sales were 
divided between royalty revenues of SEK 10.5 (4.1) million, 
license fees (including support and maintenance) of SEK 9.8 
(13.2) million and other revenues of SEK 1.4 (1.9) million.  
Royalty revenues have been at a low level over the past two 
years, but we are seeing an increase to a royalty level that we 
have not seen since Q1 2022. License fees decreased 
compared with the same period last  year, mainly due to 
changes in the composition of customers and renegotiated 
license agreements. The reduction in Other is primarily expla-
ined by the fact that less hardware is sold in Digital Identity.  
 
BIOMETRIC TECHNOLOGIES 
Net sales for Biometric Technologies totaled SEK 16.7 (14.0) 
million and are reported under royalties at SEK 10.5 (4.1) 
million, licenses at SEK 5.3 (8.8) million, and Other at SEK 0.9 
(1.1) million. After a period of low royalty levels towards the 
end of 2022 and the first part of 2023, as a consequence of 
low demand and low production volumes in the mobile 
market, royalty levels increased during Q4 2023 and increased 
further during Q1 2024. This increase is partly due to Precise 
being correctly positioned  in the area of new sensor 
technologies such as ultrasound. License fees decreased 
compared with the same period last year, mainly due to 
changes in the composition of customers and renegotiated 
license agreements. The gross margin during the quarter 
totaled 85.3% (82.3). The increase in gross margin is primarily 
due to higher sales. Royalty revenues are based on the 
customers’ sales volumes, and increased royalty revenues 
therefore have a positive impact on margins as they do not 
entail any extra costs for Precise. 
DIGITAL IDENTITY 
Net sales for Digital Identity totaled SEK 5.0 (5.1) million and 
are reported under licenses at SEK 4.5 (4.3) million, and other 
at SEK 0.5 (0.8) million. The proportion of recurring revenues 
(Annual Recurring Revenue, ARR) increased, while revenues 
of a non-recurring nature decreased. The ARR at the end of 
the quarter was SEK 18.3 (17.3) million. 
The gross margin during the quarter totaled 28.7% (16.9). The 
higher gross margin is mainly due to a lower proportion of 
hardware sales, where the margin is lower. The margin in Q1 
2023 was also very low due to non -recurring costs in 
connection with the integration of EastCoast. 
EARNINGS FOR THE QUARTER 
The gross margin during the quarter totaled 72.2% (64.8). The 
increase is primarily caused by increased sales and a changed 
product mix, as sales in Biometric Technologies increased and 
this product segment has higher margins. Total amortization 
of capitalized development expenses was SEK 4.3 (4.5) million.  
Amortization of acquired intangible assets totaled SEK 0.6 
(0.6) million.  
 
Operating expenses for the quarter fell slightly to SEK 18.5 
(19.3) million due to a strong focus on cost control. The 
profit/loss at EBITDA level improved to SEK 3.1 (–0.6) million. 
The improved EBITDA is primarily attributable to higher net 
sales combined with lower operating expenses.  
The operating profit/loss for the quarter totaled SEK –2.8 (–
6.9) million. Earnings for the quarter totaled SEK –3.0 (–6.9) 
million. Total depreciation/amortization totaled SEK 5.9 (6.2) 
million. Earnings per share (average number of shares) for the 
quarter totaled SEK –0.0 (–0.2).

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Interim Report Jan-Mar 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
NET FINANCIAL ITEMS & TAX  
Net financial items for the quarter totaled SEK –0.2 ( –0.2) 
million and the tax expense totaled SEK 0.1 (0.1) million. Net 
financial items are attributable to exchange rate differences 
in cash and cash equivalents, interest income, interest on the 
lease liability in accordance with IFRS 16, as well as interest 
expense on the deferred fixed purchase price related to the 
acquisition of EastCoast.  
 
CASH FLOW & INVESTMENTS 
The cash flow for the quarter from operating activities totaled 
SEK –2.8 ( –5.8) million, of which SEK –5.8 ( –5.1) million is 
attributable to changes in working capital caused by 
increased accounts receivable. Working capital accumulation 
was negatively impacted by delayed payments from two large 
customers of SEK 11 million, which were paid during the first 
week of Q2. During the quarter, the Group invested SEK 0.o 
(0.0) million in intangible assets. Total cash flow for the 
quarter was SEK –6.5 (–12.0) million.  
CAPITALIZATION & 
AMORTIZATION OF 
DEVELOPMENT WORK  
Development expenses of SEK 3.0 (5.2) million were 
capitalized during the quarter, and amortization of capitalized 
development expenses in respect of Digital Identity and 
Biometric Technologies totaled SEK 4.3 (4.5) million.  
FINANCIAL POSITION AND 
LIQUIDITY 
Cash and cash equivalents at the end of the period totaled 
SEK 41.1 (34.4) million. Total equity at the end of the period 
totaled SEK 156.5 (138.9) million, and equity per share was 
SEK 2.0 (2.9).  
THE PARENT COMPANY 
The parent company's net sales for the quarter totaled SEK 
17.7 (14.2) million. The operating profit/loss for the quarter 
totaled SEK –3.1 ( –7.8) million and was affected by 
amortization of goodwill totaling SEK 0.6 (0.6) million. Cash 
and cash equivalents at the end of the interim period totaled 
SEK 26.7 (22.6) million, and equity SEK 146.1 (129.1) million.  
ORGANIZATION AND STAFF 
The organization consists of the head office in Lund, Sweden, 
and offices in Stockholm, Sweden, Potsdam, USA, and 
Shanghai, China. At the end of the quarter, the Group had a 
workforce of 43 (50) people, including on -site consultants. 
The number of employees was 32 (32), of which 24 (26) were 
located in Sweden. Precise works in an agile way together 
with several partners, creating a fast -moving, scalable 
organization. The number of employees does not include 
partners. 
FINANCIAL CALENDAR  
Annual General Meeting 2024 in Lund – May 22, 2024 
Q2 Interim Report 2024 – August 16, 2024 
Q3 Interim Report 2024 – November 15, 2024 
RISK FACTORS 
The Group and parent company’s business risks and risk 
management as well as the management of financial risks are 
described in detail in the Annual Report for 2023, which was 
issued in April 2024. There have been no incidents of 
significant importance since then that would affect or change 
these descriptions of the Group or parent company’s risks and 
how they are managed.  
OWNERSHIP STRUCTURE 
Precise Biometrics AB (publ), corporate ID number 556545 -
6596, is the parent company in the Precise Biometrics Group. 
Precise Biometrics  B’s shares are listed on the Small Cap list 
of the Nasdaq OMX Nordic. The number of shareholders at 
the end of the qua rter was 16,270 (17,189), of which the 
proportion of foreign shareholders is 14.7%. 13,305,644 PREC 
shares were traded during the quarter.  The closing price on 
March 28 was SEK 1.11, and during the quarter the share price 
fluctuated between SEK 0.80 and SEK 1.17.

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Interim Report Jan-Mar 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
 
This interim report has not been audited by the company’s auditors. 
 
The undersigned certifies that the interim report provides a true and fair view of the parent company and Group’s operations,  
financial position and financial results, and describes the significant risks and uncertainty factors faced by the parent com pany and 
the companies that belong to the Group.  
 
 
Lund, May 14, 2024 
 
 
Torgny Hellström 
Chairman of the Board 
 
 
 
 
Jimmy Hsu Mats Lindoff Maria Rydén Åsa Schwarz Peter Gullander 
Board member Board member Board member Board member Board member 
 
 
 
Joakim Nydemark 
CEO 
 
 
For further information, please contact: 
Joakim Nydemark, CEO  
Email: joakim.nydemark@precisebiometrics.com 
 
This information is information that Precise Biometrics AB is obligated to disclose pursuant to the EU Market Abuse Regulation. 
The information was submitted for publication on May 14, 2024 at 08:00 AM (CET).

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Interim Report Jan-Mar 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
CONSOLIDATED INCOME STATEMENT,  
IN SUMMARY 
 
 
 
*Dilution effects are only considered in the event that the earnings per share become worse. Dilution effects have not been 
considered, as the average price is below the price in current option programs.  
 
  
2024 2023 2023 Rolling
Amounts in SEK thousand Note Jan-Mar Jan-Mar Full year 12 months
Net sales 2,3 21 684 19 150 75 069 77 603
Cost of goods sold -6 027 -6 741 -27 246 -26 532
Gross profit 15 657 12 409 47 823 51 071
Marketing and sales expenses -8 484 -6 806 -27 420 -29 098
Administrative expenses -3 850 -3 516 -14 150 -14 484
R&D expenses -6 808 -8 911 -32 105 -30 002
Other operating income/expenses 658 -39 -606 91
-18 483 -19 271 -74 281 -73 493
Operating profit/loss -2 826 -6 862 -26 458 -22 423
Finacial income/expenses 4 -229 -166 -291 -354
Profit/Loss before tax -3 055 -7 028 -26 749 -22 776
Tax 86 87 346 345
Profit/loss for the period attributable to parent company 
shareholders -2 969 -6 941 -26 403 -22 431
Earnings per share, remaining operations, SEK*
   - before dilution -0,04 -0,15 -0,34 -0,23
   - after dilution -0,04 -0,15 -0,34 -0,23
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Profit/Loss for the period -2 969 -6 941 -26 403 -22 431
Other comprehensive income:
Items that may be reclassified to profit or loss
Changes in accumulated exchange rate differences 158 -13 -127 44
Other comprehensive income for the period 158 -13 -127 44
Profit/Loss total attributable to holders of participations in the 
parent company -2 811 -6 954 -26 530 -22 387

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Interim Report Jan-Mar 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
CONSOLIDATED BALANCE SHEET,  
IN SUMMARY 
 
 
 
  
Amounts in SEK thousand
2024 2023 2023
ASSETS Note March March December
FIXED ASSETS
Material assets 11 312 8 700 6 447
Goodwill and immaterial assets 130 804 138 931 132 751
TOTAL FIXED ASSETS 142 116 147 631 139 198
CURRENT ASSETS
Inventories 292 311 359
Accounts receivable 26 845 16 355 19 173
Other current receivabels 3 016 3 400 3 499
Accruals and deferred income 3 056 2 620 2 903
Cash and cash equivalents 4,6 41 148 34 434 47 534
TOTAL CURRENT ASSETS 74 357 57 120 73 467
TOTAL ASSETS 216 473 204 751 212 665
EQUITY AND LIABILITIES
EQUITY
Equity 156 509 138 925 159 319
TOTAL EQUITY ATTRIBUTABLE TO PARENT 
COMPANY SHAREHOLDERS 156 509 138 925 159 319
LONG-TERM DEBT
Long term debt 6 22 614 25 237 17 460
TOTAL LONG-TERM DEBT 22 614 25 237 17 460
SHORT-TERM LIABILITIES
Short-term liabilities 4,6 37 350 40 589 35 886
Total Short-term liabilities 37 350 40 589 35 886
TOTAL EQUITY AND LIABILITIES 216 473 204 751 212 665

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Interim Report Jan-Mar 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
CONSOLIDATED CASH FLOW STATEMENT 
 
 
1) The balance sheet item Cash & Cash Equivalents only includes bank balances at both the beginning and end of the period. 
  
2024 2023 2023 Rullande 
Amounts in SEK thousand Note Jan-Mar Jan-Mar Full year 12 months
Cash flow from operating activities
Operating profit/loss -2 826 -6 862 -26 458 -22 422
Adjustments for items not included in cash flow 6 011 6 241 24 843 24 613
Interest payments, net -229 -44 386 201
Tax paid -7 -4 -9 -12
Cash flow from operating activities 2 949 -669 -1 238 2 380
before changes in working capital
Cash flow from changes in working capital
Change in inventories 66 0 -48 18
Change in current receivables -7 306 -3 868 -7 083 -10 521
Change in current liabilities 1 459 -1 273 -2 392 341
-5 781 -5 141 -9 522 -10 162
Cash flow from operating activities -2 832 -5 810 -10 760 -7 781
Acquisition of subsidiaries 6 0 0 -10 000 -10 000
Investment in fixed assets 31 -17 -1 215 -1 167
Investment in intangible assets -3 055 -5 191 -14 101 -11 965
Cash flow from investing activities -3 024 -5 208 -25 316 -23 132
New share issue 0 0 49 523 49 523
Commission expenses 0 -423 -9 979 -9 556
Repurchase of own shares -1 0 0 -1
Payment for sale/buy-back of options 0 0 0 0
Payment of lease liability -622 -529 -2 258 -2 351
Cash flow from financing activities -623 -952 37 287 37 616
Total Cash flow -6 478 -11 969 1 211 6 703
Cash & cash equivalents at beginning of year 47 534 46 405 46 405 34 434
Exchange rate differences in cash & cash equivalents 91 -2 -83 10
Cash & cash equivalents at end of period 1) 41 148 34 434 47 534 41 148

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Interim Report Jan-Mar 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
CHANGE IN EQUITY (GROUP) 
 
 
 
 
  
Amounts in SEK thousand 2024 2023 2023 Rolling
Note Jan-Mar Jan-Mar Full year 12 months
Equity at start of period 159 319 146 302 146 302 138 925
Comprehensive income
Profit/loss for the period -2 969 -6 941 -26 403 -22 431
Other comprehensive income
Exchange differences 158 -13 -127 44
Total other comprehensive income 158 -13 -127 44
Total comprehensive income -2 811 -6 954 -26 530 -22 387
Transactions with shareholders
Stockoptions 5 0 0 0 0
LTI programme 5 1 0 3 4
Repurchase of own shares 5 0 0 0 0
New share issue 0 0 49 523 49 523
New issue cost 0 -423 -9 979 -9 556
Total transactions with shareholders 1 -423 39 547 39 971
Equity end of period 156 509 138 925 159 319 156 509

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Interim Report Jan-Mar 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
NOTES 
NOTE 1 – ACCOUNTING POLICIES 
This interim report has been prepared in accordance with I S 34 Interim  inancial  eporting. The parent company’s financial 
statements have been prepared in accordance with the Swedish  nnual  ccounts  ct and the Swedish  nnual  eporting Board’s 
recommendation RFR 2, Accounting for Legal Entities. The recognition and measurement policies and bases of estimates applied 
in the Annual Report for 2023 report have also been used in this interim report.  
 
NOTE 2 – REVENUE ALLOCATION 
 
 
 
 
* Sale at a certain time means that revenue is recognized point-in-time at the start of the agreement period, when control has 
been transferred to the customer. 
** Sales over time means that revenue is accrued on a straight-line basis over the term of the agreement. 
 
 
 
 
2024 2023 2023 Rolling
Amounts in SEK thousand  Jan-Mar Jan-Mar Helår 12 months
Segment 
Biometric Technologies (fd Algo)
Royalty 10 488 4 085 17 654 24 057
Licenses, incl. support & maintenance 5 281 8 838 31 500 27 943
Other 911 1 103 3 658 3 466
Digital Identity 
Licenses, incl. support & maintenance 4 515 4 329 18 308 18 493
Other 489 795 3 949 3 643
Total 21 684 19 150 75 069 77 603
Timing of revenue recognition
At point in time* 1 396 1 965 7 740 7 170
Over time** 20 288 17 185 67 329 70 433
Total 21 684 19 150 75 069 77 603
Region/Country
Europe 5 824 7 237 29 054 27 641
   - w hereof Sw eden 4 819 5 393 20 982 20 408
Asia 8 125 8 406 31 205 30 924
   - w hereof China 361 1 320 3 152 2 194
   - w hereof Taiw an 6 871 6 067 25 224 26 028
USA 7 735 3 520 14 811 19 025
Total 21 684 19 150 75 069 77 603

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Interim Report Jan-Mar 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
NOTE 3 – SEGMENT REPORTING 
 
 
 
 
  
Amounts in SEK thousand
Biometric 
Technologies Digital Identity Total Segment Biometric 
Technologies Digital Identity Total Segment
Net sales 16 680 5 004 21 684 14 026 5 124 19 150
Cost of goods sold -2 459 -3 569 -6 027 -2 484 -4 257 -6 741
Gross profit 14 221 1 435 15 657 11 542 867 12 409
Biometric 
Technologies Digital Identity Total Segment Biometric 
Technologies Digital Identity Total Segment
Net sales 52 812 22 258 75 069 55 466 22 137 77 603
Cost of goods sold -10 171 -17 075 -27 246 -10 146 -16 387 -26 533
Gross profit 42 641 5 182 47 823 45 320 5 750 51 071
Other information
2024 2023 2023 Rullande
Reconciliation profit/Loss Jan-Mar Jan-Mar Full year 12 months
Segment profit/Loss 15 657 12 409 47 823 51 071
Marketing and sales expenses -8 484 -6 806 -27 420 -29 098
Administrative expenses -3 850 -3 516 -14 150 -14 484
R&D expenses -6 808 -8 911 -32 105 -30 002
Other operating income/expenses 658 -39 -606 91
Finacial income/expenses -229 -166 -291 -354
Profit/Loss before tax -3 055 -7 028 -26 749 -22 776
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
Jan-Mar
2024 2023
jan-mar
2023 Rolling
Full-year 12 months

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Interim Report Jan-Mar 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
NOTE 4 – FINANCIAL INSTRUMENTS 
The fair value in respect of financial assets and liabilities corresponds in all material respects with the carrying amount in the 
balance sheet.  
 
INTEREST-BEARING LIABILITIES 
As of November 30, 2021, the Group acquired 100% of the shares in EastCoast Solutions AB and Besökssystem Sverige AB. 
 
The purchase price totaled SEK 86,203,000, of which SEK 24,466,000 was paid as at 31 December 2021, partly via a cash payment 
of SEK 18,000,000 and partly via the issuing of new shares totaling SEK 6,466,000. An additional SEK 8,268 thousand was paid in 
cash in January 2022.  
 
On November 30, 2022, a supplementary agreement was signed that changed the terms and conditions for the remaining liability 
of SEK 55,000 thousand for the acquisition of EastCoast Solutions AB. On December 1, 2022, SEK 30,000 thousand was paid and on 
November 30, 2023, SEK 10,000 thousand was paid. 
 
SEK 5,000 thousand will be paid on November 30, 2024, SEK 5,000 thousand on November 30, 2025, and SEK 5,000 thousand on 
November 30, 2026. Interest will be added to the amounts of SEK 5,000 thousand due on November 30, 2025 and SEK 5,000 
thousand due on November 30, 2026. The interest, of 3 months STIBOR + 8%, is added from November 30, 2023 until the 
amounts have been paid. The liability is recognized as an interest-bearing liability as of March 31, 2024. 
 
The liability has been calculated at current value at the original effective interest rate of 1.8% and is recognized as other current 
liabilities (SEK 6,128 thousand) and other non-current liabilities (SEK 11,351 thousand). The effect on earnings of the translation of 
the liability was estimated at SEK 2,112 thousand and was reported under financial items as other financial expenses during 2023. 
Precise has the option to pay off the entire remaining purchase price early without incurring any interest expenses. 
 
IMPACT ON CASH AND CASH EQUIVALENTS IN 2024 (REPORTED IN INVESTING ACTIVITIES): 
There is no impact on the Group’s cash and cash equivalents during Q1 2024. 
 
NOTE 5 – LTI PROGRAM 
The  nnual General  eeting 2022 resolved, in accordance with the Board’s proposal, to establish a long-term share bonus 
program (LTI 2022/2028) for all employees in Precise Biometrics. In order to facilitate the implementation of LTI 2022/2028 and to 
ensure the delivery of shares to the participants, and to cover the company’s costs for social security contributions, the meeting 
also decided to amend the Articles of Association in the form of the introduction of new Class C shares, authorization for the 
Board of Directors to issue Class C shares, authorization for the Board of Directors to buy back Class C shares, and approval of the 
transfer of shares to participants in LTI 2022/2028. The implementation of Class C shares took place in Q4 2022. As of March 31, 
2024, Precise Biometrics held 1,085,000 Class C shares.

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Interim Report Jan-Mar 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
PARENT COMPANY INCOME STATEMENT,  
IN SUMMARY 
 
 
 
  
2024 2023 2023 Rolling
Amounts in SEK thousand Note Jan-Mar Jan-Mar Full year 12 mån 
Net sales 1 17 710 14 177 53 787 57 320
Cost of goods sold -8 214 -8 450 -32 709 -32 473
Gross profit 9 496 5 727 21 078 24 848
Marketing and sales expenses -5 684 -4 891 -18 552 -19 345
Administrative expenses -3 727 -3 269 -13 203 -13 661
R&D expenses -3 803 -5 271 -19 813 -18 345
Other operating income/expenses 655 -85 -626 114
-12 559 -13 516 -52 194 -51 237
Operating profit/loss -3 063 -7 789 -31 116 -26 390
Financial income/expenses -140 -103 -109 -146
Group contributions received 0 0 3 487 3 488
Profit/loss before tax -3 202 -7 892 -27 738 -23 048
Tax 0 0 0 0
Profit/loss for the period -3 202 -7 892 -27 738 -23 048

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Interim Report Jan-Mar 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
PARENT COMPANY BALANCE SHEET,  
IN SUMMARY 
 
Amounts in SEK thousand
2023 2022 2023
ASSETS Note March March December
Fixed assets
Fixed assets 1 776 2 510 2 056
Immaterial assets 29 282 39 126 31 630
Deferred tax assets 90 558 90 558 90 558
TOTAL FIXED ASSETS 121 616 132 194 124 244
CURRENT ASSETS
Inventories 64 311 64
Accounts receivable 24 467 12 667 13 704
Accounts receivable Group 2 074 844 1 076
Other receivables 11 656 8 795 12 162
Accruals and deferred income 2 635 2 214 2 488
Cash and cash equivalents 26 655 22 613 35 618
TOTAL CURRENT ASSETS 67 551 47 444 65 112
TOTAL ASSETS 189 167 179 638 189 356
EQUITY AND LIABILITIES
Restricted Equity
Share capital 23 539 14 254 23 539
Paid-in unregistered share capital 0 0 0
Statutory reserve 1 445 1 445 1 445
Reserve for development expenses 20 002 26 672 21 556
Total restricted equity 44 986 42 370 46 540
Unrestricted Equity
Share premium reserve 168 316 137 635 168 316
Retained earnings -64 033 -42 965 -37 849
Profit/loss for the year -3 203 -7 892 -27 738
Total non-restricted equity 101 081 86 777 102 729
Total Equity 146 066 129 147 149 269
LONG-TERM DEBT
Long term debt 11 351 16 866 11 302
TOTAL LONG-TERM DEBT 11 351 16 866 11 302
SHORT-TERM LIABILITIES
Short-term liabilities 31 750 33 625 28 785
Total Short-term liabilities 31 750 33 625 28 785
TOTAL EQUITY AND LIABILITIES 189 167 179 638 189 356

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Interim Report Jan-Mar 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
CONSOLIDATED KEY INDICATORS 
 
 
* The key indicator is calculated excluding current liabilities to RM International. 
 
  
2024 2023 2023 Rolling
Amounts in SEK thousands unless otherwise stated Jan-Mar Jan-Mar Full-year 12 months
Net sales 21 684 19 150 75 069 77 603
Net sales growth, % 13,2% -32,4% -17,5% -5,2%
Gross margin, % 72,2% 64,8% 63,7% 65,8%
EBITDA 3 069 -625 -1 691 2 002
Operating profit/loss -2 826 -6 862 -26 458 -22 423
Working capital * 43 135 26 410 43 683 43 135
Capital employed 173 988 138 925 176 724 173 988
Liquidity ratio, % 198,3% 140% 203,7% 198%
Equity/assets ratio, % 72,3% 67,9% 74,9% 72,3%
Earnings per share before dilution, SEK -0,04 -0,15 -0,34 -0,23
Earnings per share after dilution, SEK -0,04 -0,15 -0,34 -0,23
Equity per share, SEK 1,99 2,92 2,03 1,99
Number of shares (thousands) 78 464 47 513 78 464 78 464
Weighted avg. number of shares, adjusted for dilution effect 
(thousands) 78 464 47 513 65 568 73 306
Number of employees at the end of the period 32 32 31 32
Average number of employees during the period 31 31 30 31
Annual Recurring Revenue 18 317 17 274 18 307 18 317

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Interim Report Jan-Mar 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
ALTERNATIVE CONSOLIDATED KEY 
INDICATORS 
 
Amounts in SEK thousands 2024 2023 2023 Rolling
unless otherwise stated Jan-Mar Jan-Mar Full-year 12 months
Net sales 21 684 19 150 75 069 77 603
Net sales growth, % 13,2% -32,4% -17,5% -5,2%
Gross profit 15 657 12 409 47 823 51 071
Net sales 21 684 19 150 75 069 77 603
Gross margin, % 72,2% 64,8% 63,7% 65,8%
Operating profit/loss -2 826 -6 862 -26 458 -22 423
Net sales 21 684 19 150 75 069 77 603
Operating margin, % -13,0% -35,8% -35,2% -28,9%
EBITDA 3 069 -625 -1 691 2 002
Depreciation and amortization -5 895 -6 237 -24 767 -24 425
Operating profit/loss -2 826 -6 862 -26 458 -22 423
Current assets 74 357 57 120 73 467 90 704
Current liabilities excl. current liabilities EastCoast 
International* 31 222 30 710 29 784 30 296
Working capital 43 135 26 410 43 683 60 408
Sales expenses -8 484 -6 806 -27 420 -29 098
Administrative expenses -3 850 -3 516 -14 150 -14 484
R&D expenses -6 808 -8 911 -32 105 -30 002
Other operating income/expenses 658 -39 -606 91
Total operating expenses -18 483 -19 271 -74 281 -73 493
Cost of goods and services sold -6 027 -6 741 -27 246 -26 532
Depreciation Cost of goods sold 4 744 5 035 20 244 19 952
Cost of goods and services sold excluding 
depreciation -1 283 -1 706 -7 002 -6 580
Operating expenses -18 483 -19 271 -74 281 -73 493
Depreciation Operating expenses 1 152 1 202 4 523 4 473
Operating costs excluding depreciation -17 331 -18 069 -69 758 -80 823
Balance sheet total 216 473 204 751 212 665 216 473
Non-interest-bearing liabilities 42 485 65 826 35 941 42 485
Capital employed 173 988 138 925 176 724 173 988
Closing equity 156 509 138 925 159 319 156 509
Average equity 163 176 140 939 158 780 163 176
Current assets minus inventories 74 065 56 809 73 109 74 065
Current liabilities 37 350 40 589 35 886 37 350
Liquidity ratio, % 198% 140% 204% 198%
Equity 156 509 138 925 159 319 156 509
Total assets 216 473 204 751 212 665 216 473
Equity/assets ratio, % 72,3% 67,9% 74,9% 72,3%

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Interim Report Jan-Mar 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
 
ANALYSIS OF RESULTS 
 
 
2024 2023 2023 Rullande 
Amounts in SEK thousand Note Jan-Mar Jan-Mar Full year 12 months
Net sales 2,3 21 684 19 150 75 069 77 603
Cost of goods and services sold excluding depreciation -1 284 -1 706 -7 003 -6 581
Operating costs excluding depreciation -17 331 -18 069 -69 758 -69 020
EBITDA 3 069 -625 -1 691 2 002
Total depreciation -5 895 -6 237 -24 767 -24 425
Operating profit/loss -2 826 -6 862 -26 458 -22 423

===== SIDA 28 =====

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Interim Report Jan-Mar 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
FINANCIAL GLOSSARY  
NET SALES GROWTH 
Percentage change compared with the corresponding period in the previous year. A measure of whether a 
company’s net sales are increasing. 
 
GROSS MARGIN 
Gross profit/loss divided by net sales. Indicates the proportion of sales that is left over to cover wages, other 
operating expenses, interest and profit. 
 
OPERATING PROFIT/LOSS 
Profit loss before financial net and tax.   measure of a company’s profit before interest and taxes, i.e., the difference 
between operating income and operating expenses. 
 
OPERATING EXPENSES 
Operating expenses excluding cost of goods sold. Operating expenses are expenses that do not belong directly to a 
particular product or product group. Common operating expenses include, for example, wages and other personnel 
expenses, as well as rental of premises.  
 
EBITDA 
Profit loss before financial items and depreciation. This key figure shows the Group’s profit loss before 
depreciation/amortization of capitalized assets. This measure makes it possible to make comparisons with other 
companies, regardless of whether the operation is based on acquisitions or through organic growth. 
 
OPERATING MARGIN 
Operating profit/loss divided by net sales. Defines what proportion of each Swedish krona of sales is left over to 
cover interest, taxes and any possible profit. 
 
CASH FLOW  
Cash flow from operating activities after changes in working capital. The operating cash flow indicates whether a 
company can generate a sufficiently positive cash flow to maintain and expand its operation, or whether it needs 
external financing. 
 
WORKING CAPITAL 
Current assets less current liabilities. This measure shows the capital a company needs to finance operating activities. 
 
CAPITAL EMPLOYED 
Total assets less non-interest-bearing liabilities and provisions. This measure shows how much capital is used in 
operations and is thus one component of measuring the return from operations.

===== SIDA 29 =====

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Interim Report Jan-Mar 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
 
 
EQUITY 
Equity at the end of the period. Equity is the difference between the Group’s assets and liabilities, which corresponds 
to the Group’s equity that has been contributed by shareholders and the Group’s accumulated profit. 
 
AVERAGE EQUITY  
The average equity was calculated as equity for the last four quarters divided by four. 
 
LIQUIDITY RATIO  
Current assets excluding inventories divided by current liabilities. This key figure shows the group’s ability to pay in 
the short term. 
 
EQUITY/ASSETS RATIO  
Equity divided by assets on the balance sheet date. This key indicator shows what proportion of assets is funded by 
equity. This measure can be of interest when assessing the Group’s ability to pay in the long term. 
 
RETURN ON EQUITY  
Profit loss after tax divided by average equity. This key figure shows the business’s return on shareholders’ capital 
invested and is thus a measure of how profitable the Group is. Investors can compare this measure with the current 
bank interest rate or return from alternative investments. The measure can also be used to compare profitability 
between companies in the same industry. 
 
EARNINGS PER SHARE BEFORE DILUTION 
Profit/loss for the period divided by average number of shares.  
   
EARNINGS PER SHARE AFTER DILUTION 
Profit/loss for the period divided by the weighted average number of shares adjusted for potential shares that give 
rise to a dilution effect. 
 
EQUITY PER SHARE  
Equity on the balance sheet date divided by the number of shares on the balance sheet date. A measure of the value 
of equity per share, which is used when valuing the share in relation to the share price. 
 
ANNUAL RECURRING REVENUE (ARR) 
ARR is defined as repeat revenues at the end of the quarter for Digital Identity, converted to a 12-month period. 
Consequently, there is no direct link between the ARR figure and future software revenues for Digital Identity. The 
ARR metric is used for contractual recurring revenues for the Digital Identity segment, as Digital Identity has a large 
customer base based on SaaS revenues. There are a small number of large customers in Biometric Technologies 
(formerly Algo), and therefore license fees are not followed up using the definition of ARR in this segment.

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Interim Report Jan-Mar 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596

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Interim Report Jan-Mar 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
 
precisebiometrics.com