Kvartalsrapport Q1 2025

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1 
Interim Report Jan – Mar 2025 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Q1 
Precise Biometrics 
Interim Report  
Jan–Mar 2025

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2 
Interim Report Jan – Mar 2025 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
 
  
Precise technology is used 
100K 
times/second 
all year round 
Precise Biometrics (Precise) is a global pioneer in the field of cybersecurity and biometric solutions. The 
offering includes algorithm products for fingerprint, facial and hand recognition, as well as turn key products 
for biometric access (Precise Access) and visitor management (Precise Visit by EastCoast).  
The 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. Precise operates through two 
main business areas, Digital Identity and Biometric Technologies, and operates from its offices in Lund (HQ), 
Stockholm, Potsdam NY, Seoul, Taipei and Shanghai. The Precise share is listed on the Nasdaq Stockholm 
(PREC). Find out more at www.precisebiometrics.com.

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3 
Interim Report Jan – Mar 2025 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
Table of Contents 
 
The period in brief ........................................................................................................................................................................... 4 
Presentation and Q&A ................................................................................................................................................................... 5 
CEO comments .................................................................................................................................................................................. 6 
Security expert Åsa Schwarz on digital threats and cybersecurity ................................................................................ 8 
Update from the business areas ................................................................................................................................................. 9 
Customer offering .......................................................................................................................................................................... 10 
Net sales and operating profit/loss ......................................................................................................................................... 11 
Consolidated income statement – in summary .................................................................................................................. 14 
Consolidated balance sheet – in summary ........................................................................................................................... 15 
Consolidated cash flow statement – in summary .............................................................................................................. 16 
Consolidated change in equity – in summary ..................................................................................................................... 17 
Notes ................................................................................................................................................................................................... 18 
Parent company income statement – in summary ............................................................................................................ 21 
Parent company balance sheet – in summary .................................................................................................................... 22 
Consolidated key indicators ....................................................................................................................................................... 23 
Alternative consolidated key indicators ................................................................................................................................ 24 
Analysis of results, in summary ................................................................................................................................................. 25 
Financial glossary  ......................................................................................................................................................................... 26

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4 
Interim Report Jan – Mar 2025 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
The period in brief: 
Stable demand but geopolitical events having 
a short-term impact on the business  
First quarter 
▪ Net sales totaled SEK 20.0 (21.7) million 
o A change in revenue allocation in a renegotiated customer agreement results in higher revenue on 
an annual basis, but has an impact of SEK -1.0 million on net sales in the first quarter. 
▪ EBITDA totaled SEK -1.7 (3.1) million 
o Adjusted for negative currency effects from operating items of SEK 1.6 million and a change in 
revenue allocation in a customer agreement of SEK 1.0 million, EBITDA amounts to SEK 0.9 million 
▪ Cash flow from operating activities totaled SEK 2.1 (-2.8) million 
▪ The operating profit/loss (EBIT) totaled SEK -7.1 (-2.8) million 
▪ Earnings for the period totaled SEK -7.2 (-3.0) million  
▪ Earnings per share before and after dilution totaled SEK -0.1 (-0.0) 
▪ ARR (Annual Recurring Revenue) at the end of the period was SEK 18.4 (18.3) million 
Significant events during the quarter 
(the bullet list below contains links to the relevant press releases) 
▪ The anti-spoof solution BioLive approved for national ID program 
▪ The Nomination Committee proposes Victor Kuzmin for the Board of Directors 
▪ Entering the Norwegian visitor management system market 
▪ Expanded biometric physical access offering for high-security sector 
▪ Showcasing Biometric Security Solutions at ISC West in Las Vegas 
▪ Västra Hamnen Corporate Finance initiates coverage of Precise  
▪ Xiaomi launches new smart safe with technology from Precise  
 
Significant events after the end of the interim period  
(the bullet list below contains links to the relevant press releases)
▪ Rebranding initiative to clarify and strengthen Precise’s offering 
Financial data and key indicators 
 
 
See the Financial Glossary for definitions.   
2025 2024 2024 Rolling
Amounts in SEK thousands unless otherw ise stated Jan-Mar Jan-Mar Full-year 12 mth
Net sales 20 007 21 684 86 852 85 175
Net sales grow th, % -7,7% 13,2% 15,7% 9,8%
EBITDA -1 689 3 069 13 379 8 622
Gross margin, % 71,9% 72,2% 72,6% 72,6%
Operating profit/loss -7 051 -2 826 -9 414 -13 639
Operating margin, % -35,2% -13,0% -10,8% -16,0%
Cash flow  from the operating activities 2 103 -2 832 10 055 14 990
Cash and cash equivalents 36 036 41 148 37 704
Annual Recurring Revenue 18 376 18 317 18 980

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5 
Interim Report Jan – Mar 2025 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
Presentation and Q&A 
Precise has published a video interview with CEO Joakim Nydemark in connection with this report. The interview is designed to 
complement the report and provide additional depth and a better understanding of the stock market for the company’s business 
operations. 
The video is available on the Investor Relations page: https://precisebiometrics.com/sv/investerare/  
The company also invites you to a Q&A session. More information and a link to the Q&A session may be found on the Investor 
Relations page: https://precisebiometrics.com/sv/investerare/  
Time of Q&A: May 14, 2025, at 13:00 (CET). 
 Questions can be asked directly during the Q&A or submitted in advance to investor@precisebiometrics.com 
 
  
Q&A 
May 14, 13:00

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6 
Interim Report Jan – Mar 2025 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
CEO comments 
Stable demand but geopolitical events having 
a short-term impact on the business 
We are continuing our journey at a high tempo, even 
though the figures for the first quarter are affected by 
quarterly fluctuations and the turbulent global market 
situation. Net sales for the quarter totaled SEK 20.0 (21.7) 
million and EBITDA was SEK -1.7 (3.1) million. Both net 
sales and earnings are affected by the weakening US dol-
lar and a change in the allocation of revenue from a cus-
tomer agreement. The latter affects the quarter, but not 
the full year. EBITDA adjusted for these two factors totals 
SEK 0.9 million, which is in line with our expectations 
given the cost of increasing our selling power and the 
caution we are experiencing among our customers linked 
to the uncertainty surrounding the effects of new tariffs. 
At the same time, cash flow of SEK 2.1 million (-2.8) rep-
resents an improvement compared to the corresponding 
quarter last year. There has also been commercial pro -
gress during the period, including in national ID pro -
grams where we have been approved by the Unique Iden-
tification Authority of India (UIDAI) for use in Aadhaar, 
the national ID program. We feel that demand for the 
company’s products is increasing, even though the mar -
ket situation is prolonging business discussions, and 
given the new customer projects initiated during the 
quarter, we have a positive view of the full year 2025. We 
are continuing to execute on the commercialization strat-
egy and growth journey that has only just begun. 
We are well-positioned to continue to deliver market-leading 
visitor management systems, security solutions and biometric 
products with a focus on expansive verticals and geographies. 
We are cost-conscious, and by renegotiating sup plier 
agreements and efficiency improvements, we have been able 
to increase our selling power and productivity with a relatively 
small cost increase. This will yield results during 2025. 
Biometric Technologies 
The first quarter was characterized by new mobile projects 
and intensive work aimed at customers and partners both 
within the mobile vertical and for our latest offerings linked 
to hand recognition and anti -spoofing for national ID pro -
grams. By meeting the strict requirements of national ID pro-
grams such as Aadhaar, BioLive not only boosts the integrity 
of these systems, but also sets a new standard for anti-spoof-
ing and liveness detection, opening up new geographical 
markets such as Southeast Asia, Africa, and South America. 
Sensor production, which governs our royalty volumes, can 
also vary greatly between different quarters, which is why it is 
important to view the company’s growth over a number quar-
ters, not just individual quarters. Given the turbulent global 
situation, volumes have varied more than usual, as many of 
our customers have been more cautious in their production 
during the past quarter – in order to avoid high inventory lev-
els if sales of consumer products were to be negatively af -
fected by tariffs or the econ omic climate in general. We feel 
confident in our relationship with partners and remain opti -
mistic about growth for 2025. With end products in several 
verticals and in Asia, Europe, and the USA, we have good cov-
erage, which we believe will balance the volumes over time.  
The vehicle vertical has now started to deliver royalty vol -
umes, and despite the market situation, this segment came in 
slightly higher than expected in the first quarter. The trend is 
increasing continuing towards the Software Defined Vehicle 
(SDV) concept, where we are positioning ourselves together 
with Infineon as a world leader in the field of biometrics for 
the automotive industry.  
Digital Identity 
Growth in our offerings in the Digital Identity business area is 
still not at the level we want to be, but it is now moving for -
ward and we can see that our framework agreements with 
larger companies will contribute to positive development go-
ing forward. During the quarter, we made investments and 
launched new products, such as a locally installed (on -prem-
ise) version of Precise Access, our physical access solution, as 
a complement to the company’s existing hybrid cloud solu -
tion. By offering full on -premise implementation, we are 
meeting the increasingly demanding security requirements of 
high-security organizations including government agencies, 
critical infrastructure facilities, and defense organizations.  
During the quarter, we further strengthened the sales organ-
ization by hiring sales resources in Norway. These will be 
working closely with the Swedish organization to ensure rapid 
upscaling and cost efficiency. The goal is to both accelerate 
business with customers and build a local partner network.

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7 
Interim Report Jan – Mar 2025 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
We see a growing demand for our visitor 
management system, both in Sweden and 
internationally, which, combined with the 
fact that many existing customers are ex-
panding the solution to more of fices, 
creates the conditions for growth in 2025. 
The continued migration to the cloud is 
one of the highlights of the period, with 
customers who mi grated including Alfa Laval, Familje -
bostäder, Tobii Technology and Öresundskraft. Demand con-
tinues to benefit from several external factors, such as the se-
curity situation, new regulatory requirements and the fact that 
modern companies want to be more customer-centric.  
Our offering 
To further enhance and clarify our offering, and to simplify 
internal processes, we are bringing all products together un -
der the Precise brand. The name YOUNiQ is disappearing and 
EastCoast will become part of the Precise Visit name. Our 
physical access system will be called Precise Access and our 
visitor management system Precise Visit by EastCoast. Com-
pany names are not affected, nor the product functionality.  
Future prospects 
There is an incredible level of activity in the areas that are the 
cornerstones of our business – biometrics, cybersecurity, 
seamless access and AI. In parallel with our commercialization 
strategy, we are continuing to open up new offerings, includ-
ing national ID programs, hand recognition and on -premise 
access systems. 
I feel that we have an extremely positive and exciting future 
ahead of us, and if I look ahead to the coming year, there is a 
lot to suggest healthy growth. In a society where security and 
user-friendliness are becoming increasingly central, our solu-
tions help create greater peace of mind. As one of the actors 
in the field of ultrasound algorithms, I see potential for in -
creased revenue, while we make progress in cybersecurity, the 
automotive industry and biometric solutions for government 
agency projects.  With a strong product portfolio, stable fi -
nances and long-term partnerships, we are well positioned.  
Many thanks to our highly competent team, customers and 
partners. Together we are creating a simpler and safer world. 
Onwards and upwards! 
Joakim Nydemark  
 CEO 
 
 
  
My top three: 
▪ The fundamental macro drivers of our offering 
are stronger than ever 
▪ Many opportunities in national ID programs  
▪ Our knowledge and our strong offering

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8 
Interim Report Jan – Mar 2025 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
Security expert Åsa Schwarz on digital threats 
and cybersecurity 
In a world where digital threats are becoming increas -
ingly sophisticated, cybersecurity is more important than 
ever. Åsa Schwarz, expert on the subject and Board mem-
ber at Precise, shares her thoughts on today’s biggest 
risks, how companies and individuals can protect them -
selves – and how she combines cybersecurity with her 
work as an author.  
How did your interest in cybersecurity start, and what 
is cybersecurity actually? 
I started programming as a child, but came into contact with 
cybersecurity during a summer course while studying at uni -
versity. Then I was hooked. 
Cybersecurity nowadays is a broad concept meaning that you 
work systematically to ensure that information in systems and 
networks is available, correct, and can only be accessed by the 
right people. The big difference today is that all businesses 
are completely dependent on IT, which makes security and 
secure systems even more important now than ever before. 
Is cybersecurity completely detached from physical se-
curity, or how does it all link together? 
In the past it was detached, but now the two are very much 
interlinked. Our locks and alarms are digitalized, and it’s every 
bit as important that the bolt in a lock is as robust as the IT 
system behind it. If you have biometric solutions such as 
those from Precise, it's even more integrated. 
What are the biggest risks today, and what are your 
best tips for staying safe? 
Hackers try to gain access to either money or information, 
and we see that in some countries criminal hacker groups col-
laborate with state actors. It makes a big difference whether 
you’re a private individual or a company. Private individuals 
are often targeted by fraud and phishing. Companies often 
have a much broader risk profile, facing everything from ran-
somware, where a criminal encrypts your information and 
hard drives, DDoS attacks, where systems become unavaila -
ble, to problems with suppliers who have security problems 
themselves. And we mustn’t forget that many incidents are 
due to user error or poor systems. 
As a private individual, you can keep in mind some basic 
measures such as always having backup, multi-factor authen-
tication and long passwords.  
But above all, you must be alert when things are not as they 
usually are. Companies need to work systematically with 
cybersecurity throughout the organization. 
What is the most common misconception related to 
cybersecurity work in organizations?  
One of the biggest preconceptions is that it’s the IT depart -
ment’s problem. Many breaches and errors are caused by us-
ers making mistakes. Management and, in some cases, the 
Board of Directors must also be involved in determining the 
risk appetite and focus of security work. 
How do you see the role of Precise’s offering in cyber-
security? 
Precise has several different solutions that increase security 
while making life a little easier for users. One typical example 
is fingerprints to open a mobile phone, computer or car. Sup-
port for visitor management is also an important part of a 
company’s systematic security work. 
How do you think digital developments and cyber 
threats/risks will change going forward? 
Right now, the world around us is extremely turbulent, which 
means that companies must find ways to continuously man -
age new risks. Criminal activity online has also increased sig -
nificantly, which increases the need for security. 
Will those who develop cybersecurity solutions or the 
“cyber villains” win at the end of the day? 
That’s the classic question. I think we’ll continue as before, 
with the villains constantly challenging and finding new ways, 
while those of us working with security are constantly learning 
and improving. The big trend is that those that are good at 
managing incidents are also the ones that perform the best. 
You’re not just a cybersecurity expert, but also an au-
thor – how do you weave that into your books? 
Although all my books are thrillers, some also deal with 
cybersecurity. For example, Master of   
Dolls has elements of artificial   
intelligence and security,   
and The Seven Keys is a   
hacker thriller.  
  
Åsa Schwarz 
Board member at Precise Biometrics and Enea, and 
Head of Business Development at Knowit 
Cybersecurity & Law. She also writes thrillers.

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9 
Interim Report Jan – Mar 2025 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
Update from the business areas 
Biometric Technologies 
The market for the company’s biometric platform suite con -
tinues to grow, and Precise continues to hold a very strong 
position, primarily in the ultrasonic and anti -spoof segment. 
The market for our customers’ sensor hardware is competitive 
and under price pressure, but the algorithm software for ul -
trasonic and anti-spoof has better margins. 
A few highlights: 
▪ The security situation and technological developments 
are generating opportunities, and there are generally high 
levels of interest and many ongoing business discussions.   
▪ One area of particular interest is National ID Programs. 
New, stricter security requirements are being established 
to reduce the risk of fraud, manipulation, and various 
forms of attack. Precise's anti-spoof solution BioLive fits in 
well here, and it is already integrated in biometric readers 
that are certified for the updated Aadhaar requirements. 
There are some very interesting things happening in this 
area, but this also involves large government agency pro-
jects with long processes.  
▪ Successful marketing of Palm, including activities at ISC 
West in Las Vegas and IFSEC Korea in Seoul. The company 
is seeing a high level of interest in both palm as a modality 
and the various solutions presented during meetings with 
stakeholders, including multi-factor authentication (MFA) 
for physical access. 
Precise is constantly taking new steps in terms of functionality 
and performance in its biometric platform suite. One specific 
example is the new  packaging of the BioLive anti -spoof 
solution, where both AI technology and services in the form 
of data collection are important components. 
Digital Identity 
Precise has a strong  offering in the field of visitor 
management systems and physical access. The company 
grows its customer base through both new customers and 
additional sales to existing customers. 
The offering for the Precise Visit by EastCoast visitor manage-
ment system (formerly EastCoast Visit in Sweden and 
YOUNiQ Visit internationally) is growing and expanding inter-
nationally, while also being enhanced with new functionality. 
The first month of the year was weak, which is normal, but 
towards the end of the period there was strong growth, and 
during the quarter new and updated agreements were signed 
with, among others, Atlas Copco, Certego Norge, the City of 
Helsingborg, Norstedts, SJ Stockholms Tåg and Tradera. The 
company has also seen its solutions implemented in new 
geographical markets such as Germany and Latvia. 
The visitor management system initiative is being affected in 
the short term by higher churn, as a result of the change in 
strategy that involved an investment in a scalable cloud and 
SaaS solution. Some customers with legacy on-premise solu-
tions are choosing not to renew their agreements. The main 
reason is that they no longer see any need for a visitor man -
agement system. A small number of customers also re -
questing special functionality that is not available in the cloud 
solution. Even if this means a temporary cut in the ARR stock, 
Precise and its management are convinced that building a 
more uniform and scalable cloud business is the right deci -
sion in the medium to long term. Management also believes 
that this negative impact will be short -term. Evidence of this 
is provided by strong new sales of our cloud solution, the fact 
that no cloud customers left during the quarter and the pos-
itive trend that can be seen in connection with framework 
agreements with large corporate groups.  
Sales of Precise Access did not meet expectations during the 
quarter, mainly due to economic uncer tainty in the world at 
large and uncertainty about GDPR and similar regulations. But 
interest in the solution remains greater than ever, given the 
situation in the world and the opportunities offered by the 
product. There has been a particularly high level of interest in 
hand modality, which was ev ident at the ISC West security 
trade event in Las Vegas. The product was on display at the 
Genetec booth during the event. 
A few highlights:  
▪ Precise Visit by EastCoast is growing internationally, with 
new customers in Asia, the USA and Europe. At the same 
time, Precise has launched an initiative in Norway. 
▪ More public sector players are using Precise solutions. 
▪ An on-premise version of Precise Access was launched in 
order to better meet the increased security requirements 
from users, including high-security companies.  
Product roadmap 
Several new functions have been launched, including Agree-
ment Signature, where links can be created between the visi-
tor management system and confidentiality agreements.

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10 
Interim Report Jan – Mar 2025 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
Customer offering
In a society where security and user -friendliness are be -
coming increasingly central, Precise helps create in -
creased peace of mind by developing innovative technical 
solutions in the areas of cybersecurity and biometric 
recognition. Simplicity and a first -class user experience 
are combined with performance and a high level of secu-
rity. Instead of using a PIN, password, key, card, etc. you 
use your finger, face or hand for authentication or iden -
tification.  
There are areas of application in both digital and physical 
access, and the applications are found in, for example, mobile 
phones, laptops, logical access, payment, vehicles, and in 
visitor management and access systems, and various forms of 
government ini tiatives such as national ID systems and  
Automated Biometric Identification Systems (ABIS). 
The offering consists of biometric algorithm products, basic 
technology, which component manufacturers use in their 
products, and also end -customer products for access and 
visitor management.  
The focus is on creating a safe and seamless everyday 
environment for people by combining user -friendliness with 
a high level of security in our cybersecurity and biometric 
security solutions. 
Why Precise? 
▪ Unique knowledge, as biometrics and cybersecurity has 
been the company’s core business for 25 years. 
▪ Established on the global market, the technology is used 
more than 100,000 times per second, all year round. 
▪ Large customer base and a global ecosystem of partners.  
▪ Software company, which creates flexibility and the 
facility to make quick changes. 
▪ Hardware-independent.  
▪ Combines several different biometric modalities such as 
finger, palm, and face. 
Our products 
Systems for physical access and 
visitor management 
▪ Precise Access: Biometric access for physical security. 
▪ Precise Visit by EastCoast: Visitor management system. 
Biometric suite for biometric 
recognition 
 
▪ BioMatch: Fingerprint and palm matching product. 
▪ BioLive: Prevent manipulation, fraud and forgery by 
ensuring the authenticity of biometric prints. 
▪ BioEnhance: Image enhancement, e.g., regarding 
biometric prints before matching.

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11 
Interim Report Jan – Mar 2025 
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 totaled SEK 20.0 (21.7) million, di-
vided between royalty revenues of SEK 8.7 (10.5) million, license 
fees (including support and maintenance) of SEK 9.8 (9.8) mil -
lion and other revenues of SEK 1.5 (1.4) million. Royalty reve -
nues during the first quarter are slightly lower than in the pre -
vious year, which is partly explained by a renegotiated cus -
tomer agreement. The agreement entails increased revenue on 
an annual basis, but lower royalty revenue in Q1 by approxi -
mately SEK 1 million. The agreement will have a positive effect 
in the second half of the year, as revenues will be distributed 
more evenly between the quarters ahead. A weaker USD also 
had a negative impact on royalty revenues. 
Biometric Technologies 
Net sales for Biometric Technologies totaled SEK 14.9 (16.7) 
million and are reported under royalties at SEK 8.7 (10.5) mil -
lion, licenses at SEK 5.1 (5.3) million, and other revenue at SEK 
1.1 (0.9) million. Royalty revenues in the first quarter were 
slightly lower than in the previous year, as a consequence of a 
renegotiated customer agreement and a weaker USD. The re -
negotiation of the agreement is positive and entails an increase 
in revenue on an annual basis, but the change affects how rev-
enue is distributed over the year. The gross margin during the 
quarter totaled 82.9% (85.3). The decrease is mainly due to 
lower net sales. Royalty revenues are based on customers’ sales 
volumes, and a reduction in royalty revenues therefore has a 
negative impact on margins as they do not entail lower costs. 
Digital Identity 
Net sales for Digital Identity totaled SEK 5.1 (5.0) million and 
are reported under licenses at SEK 4.7 (4.5) million, and other 
revenue at SEK 0.4 (0.5) million.  
The proportion of annual recurring revenue (ARR) was SEK 18.4 
(18.3) million at the end of the quarter. 
 
 
 
 
 
 
As part of the company’s strategy to increase the proportion of 
annual recurring revenue (ARR) at the expense of one -off 
licenses and to gradually mi grate older products, some churn 
occurred during the period. At the same time, the quarter saw 
positive new sales. The gross margin during the quarter totaled 
39.8% (28.7). The higher gross margin is explained by a higher 
proportion of software, where the margin is higher compared 
with hardware sales. 
Earnings for the quarter 
The gross margin during the quarter totaled 71.9% (72.2). The 
decrease is primarily due to lower royalty revenues. Amortiza -
tion of capitalized development expenses totaled SEK 3.9 (4.3) 
million. Amortization of acquired intangible assets totaled SEK 
0.6 (0.6) million.  
Operating expenses for the quarter increased to SEK 21.4 (18.5) 
million. During the quarter, the company was negatively af -
fected by the USD exchange rate, which in its en tirety resulted 
in other operating expenses of SEK -1.6 million. The corre -
sponding period in the previous year saw operating income of 
SEK 0.7 million, which means a currency-related change of SEK 
2.3 million between the periods. Personnel expenses increased 
slightly during the quarter due to more employees, but the 
company also reduced consultancy expenses. 
The profit/loss at EBITDA level decreased to SEK -1.7 (3.1) mil-
lion, which is explained by the exchange rate impact, a 
renegotiated customer agreement which in accounting terms 
entails approximately SEK 1 million lower income in the quarter 
– but higher income on an annual basis  – and increased 
personnel expenses for the sales and product organization.  
The operating profit/loss (EBIT) for the quarter totaled SEK -7.1 
(-2.8) million. Earnings for the quarter totaled SEK -7.2 (-3.0) 
million. Total depreciation/amortization of SEK 5.4 (5.9) million. 
Earnings per share (average number of shares) for the quarter 
totaled SEK -0.09 (-0.04).  
  
50%
60%
70%
80%
0
5
10
15
20
25
30
35
Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25
Net sales & G ross margin
Net sales G ross margin
-8
-6
-4
-2
0
2
4
6
8
Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25
Operating profit/Loss & E B IT DA
P rofit/Loss E B IT DA

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12 
Interim Report Jan – Mar 2025 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
Net financial items and 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 ex-
pense on the deferred fixed purchase price related to the 
acquisition of EastCoast.  
Cash flow & investments 
The cash flow from operating activities during the quarter 
totaled SEK 2.1 ( -2.8) million, of which SEK 4.1 ( -5.8) million is 
attributable to changes in working capital. The Group invested 
SEK 0.0 (0.0) million in property, plant and equipment during 
the period. Total cash flow for the period was SEK -1.5 (-6.5) 
million.  
Capitalization & amortization of 
development work 
Development expenses of SEK 3.0 (3.0) million were capitalized 
during the quarter, and amortization of capitalized 
development expenses in respect of Digital Identity and 
Biometric Technologies totaled SEK 3.9 (4.3) million.  
Right of use assets 
No new rental agreements were added during the quarter, 
but an extension of rental agreements in Lund and indexation 
of rent in Lund and Stockholm resulted in an increase in lease 
liabilities of SEK 3.4 (5.8) million. 
Financial position & liquidity 
Cash and cash equivalents at the end of the period totaled SEK 
36.0 (41.1) million. Total equity at the end of the period was SEK 
143.6 (156.5) million, and equity per share was SEK 1.83 (1.99).  
 
The parent company 
The parent company’s net sales for the quarter totaled SEK 16.1 
(17.7) million and operating profit/loss for the quarter totaled 
SEK -6.8 (-3.1) million and was charged with amortization of 
goodwill totaling SEK 0.6 (0.6) million. Cash and cash 
equivalents at the end of the interim period totaled SEK 23.6 
(26.7) million, and equity SEK 132.1 (146.1) million.  
Organization & 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 interim period, the Group 
had a workforce of 45 (43) people, including on -site 
consultants. The number of employees was 36 (32), of which 29 
(24) 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  
▪ AGM 2025 – May 22, 2025 
▪ Q2 Interim report 2025 – August 15, 2025 
▪ Q3 Interim Report 2025 – November 14, 2025 
▪ Year-End Report 2025 – February 12, 2026 
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 2024, which was 
issued in April 2025. 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 AB’s shares are listed on the Small Cap list 
of the Nasdaq OMX Nordic. The number of shareholders at the 
end of the quarter was 22,299 (16,270). 50,037,551 (13,305,644) 
PREC shares were traded during the quarter. The closing price 
on March 31 was SEK 4.01 (1.11), and during the quarter the 
share price fluctuated between SEK 2.98 (0.80) and SEK 5.77 
(1.17). 
  
-10
-5
0
5
10
15
20
0
10
20
30
40
50
60
70
80
Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25
S E K m
Operating cash flow & C ash
C ash C ash flow

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

13 
Interim Report Jan – Mar 2025 
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’s and the Group’s 
operations, financial position and financial results, and describes the significant risks and uncertainty factors faced by the parent 
company and the companies that belong to the Group.  
 
 
Lund, May 14, 2025 
 
 
Torgny Hellström 
Chairman of the Board 
 
 
 
Howard Ro Peter Gullander  Maria Rydén Åsa Schwarz 
Board member Board member  Board member Board member 
 
 
 
Joakim Nydemark 
CEO 
 
 
 
 
For further information, please contact: 
Joakim Nydemark, CEO  
Email: joakim.nýdemark@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 at 08:00 (CET).

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

14 
Interim Report Jan – Mar 2025 
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 subscription price in current option programs.  
  
2025 2024 2024 Rolling
Amounts in SEK thousand Note Jan-Mar Jan-Mar Full-year 12 mth
Net sales 2,3 20 007 21 684 86 852 85 175
Cost of goods sold -5 615 -6 027 -23 786 -23 374
Gross profit 14 392 15 657 63 066 61 801
Marketing and sales expenses -8 804 -8 484 -32 982 -33 302
Administrative expenses -3 944 -3 850 -13 789 -13 883
R&D expenses -7 097 -6 808 -26 966 -27 255
Other operating income/expenses -1 597 658 1 256 -999
-21 441 -18 483 -72 480 -75 438
Operating profit/loss -7 051 -2 826 -9 414 -13 639
Finacial income/expenses 4 -228 -229 630 631
Profit/Loss before tax -7 278 -3 055 -8 784 -13 007
Tax 86 86 351 351
Profit/loss for the period attributable to parent company 
shareholders -7 193 -2 969 -8 433 -12 657
Earnings per share, remaining operations, SEK*
   - before dilution -0,09 -0,04 -0,11 -0,16
   - after dilution -0,09 -0,04 -0,11 -0,16
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Profit/Loss for the period -7 193 -2 969 -8 433 -12 657
Other comprehensive income:
Items that may be reclassified to profit or loss
Changes in accumulated exchange rate differences -342 158 274 -226
Other comprehensive income for the period -342 158 274 -226
Profit/Loss total attributable to holders of participations in 
the parent company -7 535 -2 811 -8 159 -12 883

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

15 
Interim Report Jan – Mar 2025 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
Consolidated balance sheet – in summary  
 
 
 
  
Amounts in SEK thousand
ASSETS Note 2025-03-31 2024-03-31 2024-12-31
FIXED ASSETS
Material assets 13 174 11 312 10 639
Goodw ill and immaterial assets 123 230 130 804 124 741
TOTAL FIXED ASSETS 136 404 142 116 135 380
CURRENT ASSETS
Inventories 222 292 242
Accounts receivable 22 748 26 845 23 813
Other current receivabels 2 922 3 016 3 123
Accruals and deferred income 3 184 3 056 2 804
Cash and cash equivalents 4,6 36 036 41 148 37 704
TOTAL CURRENT ASSETS 65 113 74 357 67 686
TOTAL ASSETS 201 517 216 473 203 066
EQUITY AND LIABILITIES
EQUITY
Equity 143 629 156 509 151 163
TOTAL EQUITY ATTRIBUTABLE TO PARENT COMPANY SHAREHOLDERS 143 629 156 509 151 163
LONG-TERM DEBT
Long term debt 6 19 233 22 614 16 281
TOTAL LONG-TERM DEBT 19 233 22 614 16 281
SHORT-TERM LIABILITIES
Short-term liabilities 4,6 38 656 37 350 35 621
Total Short-term liabilities 38 656 37 350 35 621
TOTAL EQUITY AND LIABILITIES 201 517 216 473 203 066

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

16 
Interim Report Jan – Mar 2025 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
Consolidated cash flow statement – in 
summary 
 
1) The balance sheet item Cash & Cash Equivalents only includes bank balances at both the beginning and end of the period. 
  
2025 2024 2024 Rolling
Amounts in SEK thousand Note Jan-Mar Jan-Mar Full-year 12 mth
Cash flow from operating activities
Operating profit/loss -7 051 -2 826 -9 414 -13 639
Adjustments for items not included in cash flow 5 252 6 011 22 928 22 169
Interest payments, net -228 -229 630 631
Tax paid 3 -7 -22 -12
Cash flow from operating activities -2 024 2 949 14 122 9 149
before changes in working capital
Cash flow from changes in working capital
Change in inventories 20 66 117 71
Change in current receivables 824 -7 306 -4 113 4 017
Change in current liabilities 3 283 1 459 -71 1 753
4 127 -5 781 -4 067 5 841
Cash flow from operating activities 2 103 -2 832 10 055 14 990
Acquisition of subsidiaries 6 0 0 -6 168 -6 168
Investment in fixed assets -40 31 -370 -441
Investment in intangible assets -2 961 -3 055 -10 967 -10 873
Cash flow from investing activities -3 001 -3 024 -17 505 -17 482
New  share issue 0 0 0 0
Commission expenses 0 0 0 0
Repurchase of ow n shares -1 -1 -3 -3
Payment of lease liability -600 -622 -2 542 -2 520
Cash flow from financing activities -601 -623 -2 545 -2 523
Total Cash flow -1 498 -6 478 -9 994 -5 014
Cash & cash equivalents at beginning of year 37 704 47 534 47 534 41 148
Exchange rate differences in cash & cash equivalents -171 91 164 -98
Cash & cash equivalents at end of period 1) 36 036 41 148 37 704 36 036

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

17 
Interim Report Jan – Mar 2025 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
Consolidated change in equity – in summary  
 
 
 
  
Amounts in SEK thousand 2025 2024 2024 Rolling
Note Jan - Mar Jan-Mar Full-year 12 mth
Equity at start of period 151 163 159 319 159 319 156 509
Comprehensive income
Profit/loss for the period -7 193 -2 969 -8 433 -12 657
Other comprehensive income
Exchange differences -342 158 274 -226
Total other comprehensive income -342 158 274 -226
Total comprehensive income -7 535 -2 811 -8 159 -12 883
Transactions with shareholders
LTI programme 5 1 1 2 2
New  share issue 0 0 0 0
New  issue cost 0 0 0 0
Total transactions w ith shareholders 1 1 2 2
Equity end of period 143 629 156 509 151 163 143 629

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

18 
Interim Report Jan – Mar 2025 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
Notes 
Note 1 – Accounting policies 
This interim report has been prepared in accordance with IAS 34 Interim Financial Reporting. The parent company’s financial 
statements have been prepared in accordance with the Swedish Annual Accounts Act and the Swedish Annual Reporting Board’s 
recommendation RFR 2, Accounting for Legal Entities. The recognition and measurement policies and bases of estimates applied 
in the Annual Report for 2024 report have also been used in this interim report. 
 
Note 2 – Revenue allocation 
 
 
* Sale at a certain time means that revenue is reported point-in-time at the start of the agreement period, when control has been 
transferred to the customer. Royalties have been moved to sales at a certain point in time in order to provide a more accurate 
picture.  
** Sales over time means that revenue is accrued on a straight-line basis over the term of the agreement. 
  
2025 2024 2024 Rolling
Amounts in SEK thousand  Jan-Mar Jan-Mar Full-year 12 mth
Segment 
Biometric Technologies 
Royalty 8 663 10 488 41 089 39 264
Licenses, incl. support & maintenance 5 121 5 281 21 976 21 816
Other 1 146 911 2 358 2 593
Digital Identity 
Licenses, incl. support & maintenance 4 640 4 515 18 588 18 713
Other 437 489 2 841 2 789
Total 20 007 21 684 86 852 85 175
Timing of revenue recognition
At point in time* 10 258 11 884 47 777 46 152
Over time** 9 749 9 800 39 075 39 023
Total 20 007 21 684 86 852 85 175
Region/Country
Europe 6 474 5 824 27 598 28 248
   - w hereof Sw eden 5 264 4 819 20 356 20 801
Asia 6 395 8 125 29 443 27 713
   - w hereof China 275 361 1 372 1 286
   - w hereof Taiw an 5 327 6 871 24 963 23 420
USA 7 138 7 735 29 811 29 214
Total 20 007 21 684 86 852 85 175

===== SIDA 19 =====

19 
Interim Report Jan – Mar 2025 
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 14 930 5 077 20 007 16 680 5 004 21 684
Cost of goods sold exkl. depreciation -272 -1 057 -1 328 -220 -1 063 -1 284
Depreciation included in cost of sold goods -2 289 -1 998 -4 287 -2 238 -2 505 -4 744
Gross profit 12 370 2 022 14 392 14 221 1 435 15 657
Biometric 
Technologies
Digital 
Identity 
Total 
Segment
Biometric 
Technologies
Digital 
Identity 
Total  
Segment
Net sales 65 424 21 428 86 852 63 675 21 501 85 175
Cost of goods sold exkl. depreciation -1 259 -4 297 -5 556 -1 310 -4 290 -5 600
Depreciation included in cost of sold goods -9 402 -8 828 -18 230 -9 452 -8 321 -17 773
Gross profit 54 764 8 303 63 066 52 913 8 890 61 801
Other information
2025 2024 2024 Rolling
Reconciliation profit/Loss jan-mar jan-mar Full-year 12 mth
Gross profit 14 392 15 657 63 066 61 801
Marketing and sales expenses -8 804 -8 484 -32 982 -33 302
Administrative expenses -3 944 -3 850 -13 789 -13 883
R&D expenses -7 097 -6 808 -26 966 -27 255
Other operating income/expenses -1 597 658 1 256 -999
Finacial income/expenses -228 -229 630 631
Profit/Loss before tax -7 278 -3 055 -8 784 -13 007
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
Full-year 12 mth
2025 2024
Jan - Mar Jan - Mar
2024 Rolling

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

20 
Interim Report Jan – Mar 2025 
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 
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 (see Note 6). SEK 30,000 thousand was paid on December 1, 
2022, SEK 10,000 thousand on November 30, 2023 and SEK 5,000 thousand on November 30, 2024. SEK 5,000 thousand will be 
paid 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. Interest for the period from December 
1, 2023 to November 30, 2024 was paid on November 30, 2024. The interest, of 3 months STIBOR + 8%, will be added from 
November 30, 2023 until the amounts have been paid. The liability is recognized as an interest-bearing liability as of March 31, 
2025. 
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 5,961 thousand) and other non-current liabilities (SEK 5,351 thousand).  
 
Note 5 – LTI program 
The Annual General Meeting 2022 resolved, in accordance with the Board’s proposal, to establish a long-term share bonus 
program (LTI 2022/2028) for all employees at 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, 
2025, Precise Biometrics held 1,085,000 Class C shares. 
 
Note 6 – Business combinations 
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 thousand, of which SEK 24,466 thousand was paid as at December 31, 2021, partly via a 
cash payment of SEK 18,000 thousand and partly via the issuing of new shares totaling SEK 6,466 thousand. 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. See Note 4 for details of the new terms and conditions. 
 
Impact on cash and cash equivalents in 2025 (reported in investing activities): 
There is no impact on the Group’s cash and cash equivalents during Q1 2025. 
See Note 4 regarding repayment of liability.

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

21 
Interim Report Jan – Mar 2025 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
Parent company income statement – in 
summary 
 
 
 
  
2025 2024 2024 Rullande
Amounts in SEK thousand Note jan-mar jan-mar Helår 12 mån 
Net sales 1 16 065 17 710 69 959 68 314
Cost of goods sold -7 624 -8 214 -32 412 -31 823
Gross profit 8 441 9 496 37 547 36 491
Marketing and sales expenses -6 414 -5 684 -20 783 -21 513
Administrative expenses -3 815 -3 727 -13 227 -13 315
R&D expenses -3 381 -3 803 -16 031 -15 609
Other operating income/expenses -1 587 655 1 261 -981
-15 197 -12 559 -48 780 -51 418
Operating profit/loss -6 756 -3 063 -11 233 -14 927
Financial income/expenses -100 -140 809 849
Group contributions received 0 0 151 150
Profit/loss before tax -6 856 -3 202 -10 274 -13 928
Tax 0 0 0 0
Profit/loss for the period -6 856 -3 202 -10 274 -13 928

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

22 
Interim Report Jan – Mar 2025 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
Parent company balance sheet – in summary  
 
 
 
Amounts in SEK thousand
ASSETS Note 2025-03-31 2024-03-31 2024-12-31
Fixed assets
Fixed assets 975 1 776 1 196
Immaterial assets 21 379 29 282 22 812
Deferred tax assets 90 558 90 558 90 558
TOTAL FIXED ASSETS 112 912 121 616 114 566
CURRENT ASSETS
Inventories 0 64 0
Accounts receivable 20 791 24 467 20 859
Receivable Group 8 259 2 074 8 145
Other receivables 1 633 11 656 1 841
Accruals and deferred income 2 616 2 635 2 449
Cash and cash equivalents 23 640 26 655 25 452
TOTAL CURRENT ASSETS 56 939 67 551 58 746
TOTAL ASSETS 169 851 189 167 173 312
EQUITY AND LIABILITIES
Restricted Equity
Share capital 23 539 23 539 23 539
Statutory reserve 1 445 1 445 1 445
Reserve for development expenses 15 272 20 002 15 911
Total restricted equity 40 255 44 986 40 895
Unrestricted Equity
Share premium reserve 168 316 168 316 168 316
Retained earnings -69 576 -64 033 -59 942
Profit/loss for the year -6 857 -3 203 -10 274
Total non-restricted equity 91 883 101 081 98 100
Total Equity 132 139 146 066 138 995
LONG-TERM DEBT
Long term debt 5 350 11 351 5 337
TOTAL LONG-TERM DEBT 5 350 11 351 5 337
SHORT-TERM LIABILITIES
Short-term liabilities 32 362 31 750 28 979
Total Short-term liabilities 32 362 31 750 28 979
TOTAL EQUITY AND LIABILITIES 169 851 189 167 173 312

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

23 
Interim Report Jan – Mar 2025 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
Consolidated key indicators 
 
 
* The key indicator is calculated excluding current liabilities to EastCoast International AB. 
2025 2024 2024 Rolling
Amounts in SEK thousands unless otherw ise stated Jan-Mar Jan-Mar Full-year 12 mth
Net sales 20 007 21 684 86 852 85 175
Net sales grow th, % -7,7% 13,2% 15,7% 9,8%
Gross margin, % 71,9% 72,2% 72,6% 72,6%
EBITDA -1 689 3 069 13 379 8 622
Operating profit/loss -7 051 -2 826 -9 414 -13 639
Working capital * 32 417 43 135 38 019 32 417
Capital employed 154 939 173 988 162 455 154 939
Liquidity ratio, % 167,9% 198,3% 189,3% 167,9%
Equity/assets ratio, % 71,3% 72,3% 74,4% 71,3%
Earnings per share before dilution, SEK -0,09 -0,04 -0,11 -0,16
Earnings per share after dilution, SEK -0,09 -0,04 -0,11 -0,16
Equity per share, SEK 1,83 1,99 1,93 1,83
Number of shares (thousands) 78 464 78 464 78 464 78 464
Weighted avg. number of shares, adjusted for dilution 
effect (thousands) 78 464 78 464 78 464 78 464
Number of employees at the end of the period 36 32 35 36
Average number of employees during the period 36 31 32 34
Annual Recurring Revenue 18 376 18 317 18 980

===== SIDA 24 =====

24 
Interim Report Jan – Mar 2025 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
Alternative consolidated key indicators
 
Amounts in SEK thousands 2025 2024 2024 Rolling
unless otherw ise stated Jan-Mar Jan-Mar Full-year 12 mth
Net sales 20 007 21 684 86 852 85 175
Net sales grow th, % -7,7% 13,2% 15,7% 9,8%
Gross profit 14 392 15 657 63 066 61 801
Net sales 20 007 21 684 86 852 85 175
Gross margin, % 71,9% 72,2% 72,6% 72,6%
Operating profit/loss -7 051 -2 826 -9 414 -13 639
Net sales 20 007 21 684 86 852 85 175
Operating margin, % -35,2% -13,0% -10,8% -16,0%
EBITDA -1 689 3 069 13 379 8 622
Depreciation and amortization -5 362 -5 895 -22 794 -22 260
Operating profit/loss -7 051 -2 826 -9 414 -13 638
Current assets 65 113 74 357 67 686 65 113
Current liabilities excl. current liabilities EastCoast 
International* 32 696 31 222 29 667 32 696
Working capital 32 417 43 135 38 019 32 417
Sales expenses -8 804 -8 484 -32 982 -33 302
Administrative expenses -3 944 -3 850 -13 789 -13 883
R&D expenses -7 097 -6 808 -26 966 -27 255
Other operating income/expenses -1 597 658 1 256 -999
Total operating expenses -21 441 -18 483 -72 480 -75 438
Cost of goods and services sold -5 615 -6 027 -23 786 -23 374
Depreciation Cost of goods sold 4 287 4 744 18 230 17 773
Cost of goods and services sold excluding 
depreciation -1 328 -1 283 -5 556 -5 601
Operating expenses -21 441 -18 483 -72 480 -75 438
Depreciation Operating expenses 1 075 1 152 4 564 4 487
Operating costs excluding depreciation -20 366 -17 331 -67 916 -70 951
Balance sheet total 201 517 216 473 203 066 201 517
Non-interest-bearing liabilities 46 577 42 485 40 611 46 577
Capital employed 154 939 173 988 162 455 154 939
Closing equity 143 629 156 509 151 163 143 629
Average equity 149 480 163 176 152 700 149 480
Current assets minus inventories 64 891 74 065 67 445 64 891
Current liabilities 38 656 37 350 35 621 38 656
Liquidity ratio, % 168% 198% 189% 168%
Equity 143 629 156 509 151 163 143 629
Total assets 201 517 216 473 203 066 201 517
Equity/assets ratio, % 71,3% 72,3% 74,4% 71,3%

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

25 
Interim Report Jan – Mar 2025 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
Analysis of results, in summary  
 
 
  
2025 2024 2024 Rolling
Amounts in SEK thousand Note Jan-Mar Jan-Mar Full-year 12 mth
Net sales 2,3 20 007 21 684 86 852 85 175
Cost of goods and services sold excluding depreciation -1 328 -1 284 -5 556 -5 600
Operating costs excluding depreciation -23 329 -20 305 -78 883 -81 907
Capitalized development expenses  2 961 2 974 10 967 10 955
EBITDA -1 689 3 069 13 379 8 621
Total depreciation excluding acquired immaterial assets -4 761 -5 290 -20 362 -19 833
Total depreciation acquired immaterial assets -601 -605 -2 431 -2 426
Operating profit/loss -7 051 -2 826 -9 414 -13 639

===== SIDA 26 =====

26 
Interim Report Jan – Mar 2025 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
Financial glossary  
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, and 
therefore license fees are not followed up using the definition of ARR in this segment. 
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. 
Earnings before interest, depreciation and amortization (EBITDA) 
Profit/loss before financial items and depreciation. This key indicator 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. 
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. 
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. 
Average equity  
The average equity was calculated as equity for the last four quarters divided by four. 
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. 
Liquidity ratio  
Current assets excluding inventories divided by current liabilities. This key figure shows the group’s ability to pay in 
the short term. 
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.

===== SIDA 27 =====

27 
Interim Report Jan – Mar 2025 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
Earnings per share after dilution 
Profit/loss for the period divided by weighted average number of shares. 
Earnings per share before dilution 
Profit/loss for the period divided by average number of shares.  
Return on equity  
Profit/loss after tax divided by average equity. This key indicator 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. 
Working capital 
Current assets less current liabilities. This measure shows the capital a company needs to finance operating activities. 
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.  
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. 
Operating profit/loss 
Profit/loss before net financial items and tax. A measure of a company’s profit before interest and taxes, i.e., the 
difference between operating income and operating expenses. 
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. 
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.