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1 
Interim Report January-September 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Q3 
PRECISE BIOMETRICS 
INTERIM REPORT JANUARY-SEPTEMBER 2024

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2 
Interim Report January-September 2024 
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 biometric and cybersecurity 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 Shan ghai, China. The Precise 
share is listed on the Nasdaq Stockholm (PREC). Find out more at www.precisebiometrics.com.

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3 
Interim Report January-September 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
TABLE OF CONTENTS 
 
THE PERIOD IN BRIEF: STRONG GROWTH AND SIGNIFICANTLY IMPROVED EARNINGS ................................... 4 
PRESENTATION AND Q&A ........................................................................................................................................................... 6 
CEO COMMENTS: STRONG GROWTH AND SIGNIFICANTLY IMPROVED EARNINGS ........................................... 7 
UPDATE FROM THE BUSINESS AREAS ..................................................................................................................................... 9 
CUSTOMER OFFERING ................................................................................................................................................................. 11 
NET SALES & OPERATING PROFIT/LOSS .............................................................................................................................. 13 
AUDIT .................................................................................................................................................................................................. 16 
REVIEW REPORT ............................................................................................................................................................................. 17 
CONSOLIDATED INCOME STATEMENT, IN SUMMARY ................................................................................................... 18 
CONSOLIDATED BALANCE SHEET, IN SUMMARY ............................................................................................................. 19 
CONSOLIDATED CASH FLOW STATEMENT,IN SUMMARY ............................................................................................ 20 
CHANGE IN EQUITY (GROUP), IN SUMMARY ..................................................................................................................... 21 
NOTES ................................................................................................................................................................................................. 22 
PARENT COMPANY INCOME STATEMENT, IN SUMMARY ............................................................................................ 25 
PARENT COMPANY BALANCE SHEET, IN SUMMARY ...................................................................................................... 26 
CONSOLIDATED KEY INDICATORS .......................................................................................................................................... 27 
ALTERNATIVE CONSOLIDATED KEY INDICATORS ............................................................................................................. 28 
ANALYSIS OF RESULTS, IN SUMMARY .................................................................................................................................. 29 
FINANCIAL GLOSSARY  ............................................................................................................................................................... 30

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4 
Interim Report January-September 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
THE PERIOD IN BRIEF: 
STRONG GROWTH AND SIGNIFICANTLY 
IMPROVED EARNINGS 
THIRD QUARTER 
▪ Net sales totaled SEK 22.8 (17.7) million 
▪ EBITDA totaled SEK 6.8 (-1.1) million 
▪ The operating profit/loss (EBIT) totaled SEK 1.2 (-7.3) million 
▪ Earnings for the period totaled SEK 1.4 (-7.7) million  
▪ Earnings per share before and after dilution totaled SEK 0.02 (-0.10) 
▪ Cash flow from operating activities totaled SEK 3.3 (-7.5) million 
▪ ARR (Annual Recurring Revenue) at the end of the period was SEK 18.4 (17.8) million  
 
INTERIM PERIOD, JANUARY-SEPTEMBER 
▪ Net sales totaled SEK 65.1 (54.8) million 
▪ EBITDA totaled SEK 9.9 (-2.3) million 
▪ The operating profit/loss (EBIT) totaled SEK -7.3 (-21.0) million 
▪ Earnings for the period totaled SEK -7.1 (-21.4) million  
▪ Earnings per share before and after dilution totaled SEK -0.09 (-0.27) 
▪ Cash flow from operating activities totaled SEK 4.3 (-8.0) million 
▪ ARR (Annual Recurring Revenue) at the end of the period was SEK 18.4 (17.8) million  
 
SIGNIFICANT EVENTS DURING THE QUARTER 
(the bullet list below provides links to the relevant press releases)  
▪ Precise and Infineon Technologies signed a joint product agreement for the automotive industry  
▪ Precise launched its fraud prevention software, BioLive, in new verticals 
▪ Precise made a presentation at Redeye’s CyberSecurity and Autotech Event 
▪ Precise showcased its IT security solutions at GSX 2024 in Florida  
 
SIGNIFICANT EVENTS AFTER THE END OF THE INTERIM PERIOD 
(the bullet list below provides links to the relevant press releases) 
▪ Precise presented vehicle solutions at the Infineon Preferred Design House Event  
▪ Precise showcased its security solutions at Skydd 2024 
▪ Precise signed an agreement with Crunchfish in respect of software for hand gestures

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5 
Interim Report January-September 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
 
FINANCIAL DATA AND KEY INDICATORS 
 
 
See the Financial Glossary for definitions.  
  
2024 2023 2024 2023 2023 Rolling
Amounts in SEK thousands unless otherw ise stated Jul-Sep Jul-Sep Jan-Sep Jan-Sep Full-year 12 mth
Net sales 22 799 17 721 65 065 54 758 75 069 85 376
Net sales grow th, % 28,7% -5,8% 18,8% -23,7% -17,5% 15,3%
EBITDA 6 785 -1 088 9 943 -2 281 -1 691 10 532
Gross margin, % 74,3% 64,0% 72,7% 63,1% 63,7% 70,9%
Operating profit/loss 1 150 -7 280 -7 340 -21 037 -26 458 -12 761
Operating margin, % 5,0% -41,1% -11,3% -38,4% -35,2% -14,9%
Cash flow  from the operating activities 3 275 -7 542 4 298 -7 932 -10 760 1 470
Cash and cash equivalents 41 650 64 382 41 650 64 382 47 534
Annual Recurring Revenue 18 434 17 755 18 434 17 755 18 307

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6 
Interim Report January-September 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
PRESENTATION AND Q&A 
Precise Biometrics has published a video in connection with this interim report, which includes an interview with CEO Joakim 
Nydemark. The video is available on the Investor Relations page: https://precisebiometrics.com/investors/   
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 01:00 PM (CET), on November 15, 2024. A link to the Q&A session may 
be found on the Investor Relations page: https://precisebiometrics.com/investors/  
 Questions can be asked directly in the chat function or submitted in advance to investor@precisebiometrics.com

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7 
Interim Report January-September 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
CEO COMMENTS: 
STRONG GROWTH AND SIGNIFICANTLY 
IMPROVED EARNINGS 
Through a continued focus on sales activities, the launch 
of new offerings and amazing efforts in our customer 
projects, we are continuing our growth journey and 
increased sales during the quarter by 29% to SEK 22.8 
million compared with the corresponding period last 
year. For the  first time since 2020, we can also report a 
positive operating profit (EBIT) of SEK 1.2 ( -7.3) million 
for the quarter, and an EBITDA of SEK 6.8 million, making 
this the fourth consecutive quarter with a positive 
EBITDA. Moreover, the need for biometric security 
solutions continues to increase, and we feel that our 
offerings in the areas of biometrics and cyber security are 
more relevant than ever, which bodes well for the future. 
MOBILE SUCCESS  
Demand in the mobile market, primarily linked to ultrasonic 
sensors and anti -tampering, has remained strong and our 
volumes are growing steadily. Many of the projects we won 
earlier this year are now in volume production, with product 
launches both in the past quarter and in the quarters to come.  
Our partnership with Qualcomm has developed well, with 
several new projects during the quarter, as well as some 
projects where new products have reached the market. One 
of the projects that reached the market during the quarter is 
a mobile device from Google. 
GROWING VERTICALS  
We have worked hard on the development of our products, 
where our palm recognition and the upgraded anti -spoof 
solution BioLive have contributed to an expanded market and 
new business opportunities. The agreement with Crunchfish  
further strengthens the company’s solutions through faster 
palm detection, increased flexibility and new potential 
product areas in consumer electronics and the automotive.  
In September, we were proud to present an embedded 
version of BioLive – the next-generation, AI-powered security 
solution that prevents the manipulation of biometric systems. 
This embedded BioLive solution supplements the previously 
launched solution for mobile phones by working in devices 
such as laptops, vehicles, smart locks and fingerprint 
equipment at airports. We are convinced that this 
development will generate new revenue flows from both 
current and new partners. We also took further steps in our 
growth strategy during the third quarter, with a new 
partnership agreement with Infineon Technologies – a global 
leader in semiconductor manufacturing – which saw us create 
a joint fingerprint product. A listing in Infineon’s product 
portfolio and access to Infineon’s global sales organization, 
including partners, create the best possible conditions for 
new business in the automotive industry. The produc t is also 
already in production under a previous agreement at one 
vehicle manufacturer, with a launch in the coming quarters. 
With an offering that creates the conditions for the SDV 
(Software Defined Vehicle), which is an important component 
of vehicle digitalization, Precise is consolidating its position 
as a strong supplier in the field of biometric s to the 
automotive industry. 
With a customer focus, innovation and competitive products, 
we hope to be able to continue our journey of growth and 
deliver value to both customers and shareholders.  
VISITOR AND PHYSICAL ACCESS 
Interest in solutions associated with physical access is 
growing, not least towards the end of the period. The summer 
months are always tougher in terms of sales for our business 
in visitor and access systems, but with the year’s highest sales 
in September and several new salespeople in place, we are 
hoping for a strong end to the year.  
MARKET DYNAMICS  
In view of the unstable security situation and the growing 
number of cyber attacks, we see a major need for biometric 
solutions in areas such as more secure physical access and 
increased cyber security. The police, technical experts and the 
government are actively investigating ways to make use of 
these technologies, and more and more Swedes are positive 
about the use of biometrics in more than just mobile phones. 
According to a report from VISA, half of all Swedes have more 
trust in biometrics than passwords, and believe that their use 
will have a positive impact on society. Furthermore, one in 
three Swedes would like to use fingerprints to unlock their car 
and home, and also to replace ID cards and passports.

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8 
Interim Report January-September 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
MY TOP THREE: 
▪ Strong financial figures  
29% growth in revenues and positive EBIT 
▪ Clear offerings in growth 
segments 
Mobiles, vehicles, cyber security, visitor 
systems, physical and logical access 
▪ Stronger partner relationships 
Qualcomm, EgisTec, Infineon, Genetec 
through new projects and market 
collaborations 
We see similar developments globally, with the Wall Street 
Journal recently highlighting how technology giant Amazon’s 
hand-held readers are being used in Whole Foods grocery 
stores in the USA, and how the Transportation Security 
Administration has started  scanning passengers’ faces 
instead of checking ID. The subway in China has also started 
to use hand-held readers for its passengers, and a common 
feature of all the installations is that biometrics are 
contributing to increased security, efficiency, conve nience 
and time savings.  
MARKETING ACTIVITIES  
During the fall, I had the privilege of speaking at the Redeye 
CyberSecurity and Autotech event, as well as attending 
Infineon’s Preferred Design House event in Munich, where we 
discussed the increasing importance of biometric 
authentication in cyber security and the automotive industry. 
The automotive industry is a vertical with good prospects for 
the future, where innovative biometric solutions play a crucial 
role in creating a safer, more convenient in-car experience.  
GSX is a trade show in the USA for the security sector , where 
we exhibited at both our own booth and that of our partner, 
Genetec. We presented facial and palm recognition for access 
systems, and the feedback was very positive. Our focus on 
palm recognition as a new modality feels extremely timely. To 
cover t he Swedish and Nordic markets, we also had a 
presence at the SKYDD trade show in Stockholm, where, in 
addition to YOUNiQ Access with face and palm as modalities, 
we presented our leading visitor system YOUNiQ Visit, and 
participated in several panel discus sions on biometric 
security. 
As a consequence of the growing interest in biometrics and 
cyber security in general, as well as our position as a 
knowledgeable leader in the field of biometrics, we are 
increasingly being asked to participate in interviews. During 
the quarter, we were in terviewed by the Swedish financial 
newspaper Dagens Industri and the security magazine Aktuell 
Säkerhet about issues relating to cyber security and 
biometrics.  
LOOKING AHEAD  
I write these words after spending some of my time in recent 
months meeting customers and business partners around the 
world. Three continents, 20+ meetings with customers and 
partners, events with presentations, and many spontaneous 
meetings with potential customers. What I can confirm is that 
we have an extremely well -positioned, relevant product 
portfolio, strong relationships with partners and a highly 
competent team that places us at the forefront of personal 
identification and authentication in differ ent sectors. As a 
pure software company, we also have the ability to quickly 
adapt to market requirements.  
I am incredibly proud of the work being done by the entire 
Precise team, with everyone contributing to taking the 
company to new levels of success. I am very confident about 
the rest of 2024 and 2025, in which we will intensify our 
commercialization initia tives, with the aim of creating 
continued growth and profitability. 
Joakim Nydemark  
 CEO

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9 
Interim Report January-September 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
UPDATE FROM THE BUSINESS AREAS 
BIOMETRIC TECHNOLOGIES 
The market for, and interest in, the company’s biometric 
algorithm products continue to develop well. The driving 
factors remain the same, such as the rapid development of 
technology centered around AI, the unstable security 
situation in the world at large, recurring cyber attacks, and the 
ever-increasing consumer demands for user -friendliness. At 
the same time, both knowledge of and confidence in 
biometric solutions are growing, as a new report from VISA  
shows – One in three Swedes wants to unlock everything with 
their fingerprints. 
Precise is experiencing an increasingly strong position. The 
market is under price pressure, but margins are generally bet-
ter in the more complex premium segments  – ultrasonic 
sensors, anti-tampering, etc. – where Precise is strongest. 
A GROWING, MORE DEMANDING 
MOBILE PHONE MARKET 
The mobile phone market is growing. At the same time, 
demands on both technology and security are increasing in 
the segment, which benefits Precise. The more complex 
premium segments are growing fastest, where the company’s 
anti-tampering offerings – solutions to counteract 
manipulation and counterfeiting – and ultrasonic sensors are 
in high demand. Precise has a unique position in both of these 
product areas, and is one of the few actors globally. 
Precise has won several new mobile projects during the 
period, which will generate revenues in the years ahead. It is 
also pleasing that Precise technology can be found in several 
recently launched phones, both on the global market and on 
the local, but large, Chinese market.  
Precise’s partnership with Qualcomm has developed well, 
with several new projects during the quarter, as well as some 
projects where products have reached the market. One of the 
projects that reached the market during the quarter is a 
mobile device from Google. 
One of the projects that reached the market during 
the quarter is a mobile device from Google. 
It is in the ultrasonic and anti -tampering segments in 
particular where major progress is being made. Precise is 
currently the only supplier to Qualcomm when it comes to 
anti-tampering and ultrasonic algorithms outside Asia.  
STRONGER AUTOMOTIVE POSITION 
& CLOSER INFINEON RELATIONSHIP  
Biometrics is playing an increasingly central role in the 
automotive industry, partly due to the general mega and 
macro trends, but also due to the trend towards more 
software-centric vehicles, Software Defined Vehicles (SDV). 
New regulations place tougher  demands on security, and 
interest is growing in in -car services that require payment, 
which is one of the major drivers of biometrics in vehicles. 
Payment may, for example, relate to entertainment, charging, 
fuel, tolls or parking, as well as vehicle -related services such 
as software updates, new functions and service.  
An important milestone was reached during the period, as the 
relationship with Infineon  was further reinforced by an 
agreement to create a jointly packaged product for the 
automotive industry. This collaboration enables the 
integration of Precise technology into vehicle systems and 
strengthens the company’s position in the rapidly growing 
market for biometric vehicle solutions. 
At the same time, two of Precise’s existing customers went 
into mass production during the period, which means that the 
company’s solutions are now being integrated into series -
produced vehicles that are expected to be on the market from 
the end of 2024.  
PALM MODALITY: MARKETING 
WORK CONTINUES 
Precise’s latest product is an algorithm for palm recognition, 
which was launched earlier this year. It was evaluated by a 
number of customers during the period and generated a high 
level of interest. There is a strong increase in its use for 
payment and access around, with Amazon, for example, using 
it in many of its stores in the USA. There are also installations 
in the subway in China. With software from Crunchfish , the 
company’s solution is further strengthened through faster 
palm detection, increased flexibility and new potential 
product areas in consumer electronics and automotive. 
Offering palm recognition to the market means that the 
growing demand for innovative, user -friendly security 
solutions is met, which boosts Precise’s competitiveness. 
There are also major opportunities to combine palm 
authentication with other modalities to ensure multi -factor 
authentication (MFA), which is increasingly being required.

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10 
Interim Report January-September 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
BIOLIVE IN LIMITED HARDWARE 
ENVIRONMENTS 
During the year, Precise has taken important steps to 
optimize and adapt the anti-tampering and liveness product 
BioLive, which has resulted in the system now being able to 
run in more limited hardware  environments, so -called 
embedded systems. This development brings new 
opportunities in market segments with requirements for 
simpler, less resource -intensive hardware. Examples of 
segments include laptops and vehicles, where both consumer 
requirements and  regulations emphasize the need for 
increased security. 
DIGITAL IDENTITY 
Interest in Precise’s visitor system, YOUNiQ Visit, known as 
EastCoast Visit in Sweden, has never been greater. Sales 
started rather slowly during the summer months, which is 
normal, but activities and business opportunities have 
continuously increased dur ing the period  – and September 
was the company’s best sales month so far this year for 
YOUNiQ Visit. The increased interest is due not only to 
external factors, such as new regulations regarding security 
and cloud use, higher levels of attendance in offic es, 
digitalization in society and efficiency requirements, but also 
to internal factors, such as a further improved product and 
new markets, and new salespeople starting to deliver.  
Regarding the Precise access system, YOUNiQ Access, the 
challenges have been slightly greater, mainly on the home 
market in Sweden. This is primarily driven by uncertainty 
about the actual impact of GDPR. It is, however, positive to 
see a lot of interest internationally , for example with the 
company receiving very positive feedback at the GSX trade 
show in Florida at the end of September. 
A FEW HIGHLIGHTS: 
▪ New regulations regarding the ability of public 
organizations to use cloud solutions, which is driving 
increased sales of YOUNiQ Visit in particular. Many other 
external factors are also having a positive impact, such as 
an increased focus on security and higher levels of 
attendance in offices. 
▪ Good sales for YOUNiQ Visit, with September being the 
best month of the year. There is great interest in the 
product, which benefits both new sales and sales to 
existing customers, primarily in the form of migration to 
the cloud and customers expanding the solution to more 
offices. Since the end of the period, the company has 
also strengthened the sales organization in Sweden with 
additional resources, which strengthens its position 
going forward. 
▪ International markets are delivering. The team in the 
Netherlands is doing a good job and the first deals have 
been signed, while interest and demand are increasing 
from countries such as Norway and the UK. 
▪ Demand for YOUNiQ Access in high-security environments 
is increasing. 
▪ Precise participated at the GSX trade show in Orlando, 
Florida at the end of September, both with its own 
booth, together with its partner Hand.ID, and through 
representation at Genetec’s booth, where the palm 
authentication solution was presented by Genetec staff 
and met with a very positive reception.  
NEW CUSTOMERS 
During the quarter, Precise signed up several new customers 
in the area of Digital Identity, while many existing customers 
also carried out major updates and migrated to the cloud. 
These companies include: Billerud, Båstad Municipality, 
Consilium Marine & Safety, Duni, Folksam, 
Försäkringsrådgivarna i Mälardalen, the City of Helsingborg, 
Installatörsföretagen, HELIO (Gate:01), Ledarna, Returpack, 
Sandvikens Energi, Statistics Sweden, White Arkitekter, etc.  
PRODUCT ROADMAP 
A number of new features in YOUNiQ products were 
launched during the period, and there is a clear roadmap 
going forward, which includes both new functionality and 
further improved security and compatibility with different 
security standards.

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11 
Interim Report January-September 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
CUSTOMER OFFERING
In a society where security and user -friendliness are 
becoming increasingly central, Precise helps to create 
greater peace of mind. This is done by developing 
innovative technological solutions in the areas of cyber 
security and biometric recognition, wher e 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 ecosystem of 
partners. 
▪ Hardware-independent  
▪ Combines several different biometric modalities such 
as finger, palm, and face. 
▪ Public company. 
▪ Positive development.

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12 
Interim Report January-September 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. 
▪ Security  
▪ Scalability 
▪ Compliance 
▪ User-friendliness and simplicity 
▪ Reduced risk of fraud and forgery 
 
 
 
OUR PRODUCTS
 
  
 
END-CUSTOMER PRODUCTS FOR 
ACCESS AND VISITOR MANAGEMENT 
 
 
ALGORITHM PRODUCTS FOR 
BIOMETRIC RECOGNITION 
 
▪ YOUNiQ Access is our biometric access solution for 
physical entry. 
▪ YOUNiQ Visit (EastCoast Visit in Sweden) is our 
visitor management solution. 
 
▪ BioMatch is our fingerprint and palm matching 
product. 
▪ BioLive is our product to prevent manipulation, 
fraud and forgery by ensuring the authenticity of 
biometric prints. 
▪ BioEnhance is our product for image enhancement, 
e.g., regarding biometric prints before matching.

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

13 
Interim Report January-September 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
NET SALES & OPERATING PROFIT/LOSS 
NET SALES FOR THE QUARTER 
Net sales during the quarter increased to SEK 22.8 (17.7) 
million, and net sales were divided between royalty revenues of 
SEK 11.0 (4.1) million, license fees (including support and 
maintenance) of SEK 11.0 (11.8) million and other revenues of 
SEK 0.8 (1.8) million. Royalty revenues were up year-on-year as 
a consequence of new customer projects and general volume 
growth in the mobile industry. License fees were down slightly 
year-on-year, mainly due to changes in the composition of 
customers and renegotiate d license agreements due to the 
reduced support needs of some customers. 
BIOMETRIC TECHNOLOGIES 
Net sales for Biometric Technologies totaled SEK 17.5 (12.6) 
million and are reported under royalties at SEK 11.0 (4.1) 
million, licenses at SEK 6.4 (7.4) million, and Other at SEK 0.1 
(1.2) million. The increase in royalty revenues is partly due to 
Precise being correctly positioned in the area of new sensor 
technologies such as ultrasound. License fees were down year-
on-year mainly due to changes in the composition of 
customers and renegotiated license agreements due to the 
reduced support needs of some c ustomers. The gross margin 
during the quarter totaled 82.0% (80.1). 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 o n margins as they 
do not entail any extra costs for Precise. 
DIGITAL IDENTITY 
Net sales for Digital Identity totaled SEK 5.3 (5.1) million and 
are reported under licenses at SEK 4.6 (4.4) million, and Other 
at SEK 0.7 (0.6) million.  
The proportion of recurring revenues (Annual Recurring 
Revenue, ARR) increased, while revenues of a non-recurring 
nature decreased. This is part of the company’s strategy to 
allocate a larger proportion of revenue as recurring ARR instead 
of one-off licenses. The ARR at the end of the third quarter was 
SEK 18.4 (17.8) million. 
The gross margin during the quarter totaled 49.0% (24.2). The 
higher gross margin is explained by higher proportion of 
software compared with hardware sales, where the margin is 
higher. 
EARNINGS FOR THE QUARTER 
The gross margin during the quarter totaled 74.3% (64.0). The 
increase is primarily due to a change in the product mix in 
Digital Identity, which had a positive impact on the gross 
margin. Total amortization of capitalized development 
expenses was SEK 4.1 (4.6) million. Amortization of acquired 
intangible assets totaled SEK 0.6 (0.6) million.  
 
Operating expenses for the quarter decreased to SEK 15.8 
(18.6) million, primarily due to higher R&D expenses. The 
profit/loss at EBITDA level increased to SEK 6.8 ( -1.1) million. 
The improved EBITDA result is primarily attributable to higher 
net sales.  
The operating profit/loss (EBIT) for the quarter totaled SEK 1.2 
(-7.3) million. Earnings for the quarter totaled SEK 1.4 ( -7.7) 
million. Total depreciation/amortization totaled SEK 5.6 (6.2) 
million. 
Earnings per share (average number of shares) for the quarter 
totaled SEK 0.02 (-0.1).  
 
 
  
50%
60%
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80%
0
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Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24
Net sales & G ross margin
Net sales G ross margin
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Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24
Operating profit/Loss & E B IT DA
P rofit/Loss E B IT DA

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14 
Interim Report January-September 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
NET SALES FOR THE INTERIM 
PERIOD  
Net sales during the interim period totaled SEK 65.1 (54.8) 
million. Net sales were split between royalty revenues of SEK 
29.6 (11.6) million, license fees (including support and 
maintenance) of SEK 31.2 (37.5) million and Other of SEK 4.3 
(5.7) million. The increase in royalty revenues is largely due to 
Precise being correctly positioned within new sensor 
technologies such as ultrasound and the number of units sold 
in the mobile market in general increasing during the year 
compared to 2023. License fees were down year -on-year 
mainly due to changes in the composition of customers and 
renegotiated license agreements due to the reduced support 
needs of some customers. 
BIOMETRIC TECHNOLOGIES 
Net sales for Biometric Technologies totaled SEK 49.2 (38.9) 
million and are reported under royalties at SEK 29.6 (11.6) 
million, licenses at SEK 17.3 (24.2) million, and Other at SEK 2.3 
(3.1) million. The increase in royalty revenues is largely due to 
Precise being correctly positioned within new sensor 
technologies such as ultrasound and the number of units sold 
in the mobile market in general increasing during the year 
compared to 2023. License fees were down year -on-year 
mainly due to changes in the co mposition of customers and 
renegotiated license agreements due to the reduced support 
needs of some customers. The gross margin during the interim 
period was 83.9% (80.4). 
DIGITAL IDENTITY 
Net sales for Digital Identity totaled SEK 15.9 (15.9) million and 
are reported under licenses at SEK 13.8 (13.3) million, and other 
at SEK 2.0 (2.6) million. The change in revenues in Digital 
Identity is due to the fact that the proportion of Annual 
Recurring Revenue (ARR) increased, while non -recurring 
revenues decreased. This is part of the company’s strategy to 
allocate a larger proportion of revenue as recurring ARR instead 
of one-off licenses. Other revenue consists mainly of hardware 
in the area of Digital Identity, and this has decreased due to the 
fact that sales of hardware for YOUNiQ are to a greater extent 
managed at the retail level. The ARR at the end of the interim 
period was SEK 18.4 (17.8) million. The gross margin during the 
interim period was 37.9% (20.5).  
EARNINGS FOR THE INTERIM 
PERIOD 
The gross margin during the interim period was 72.7% (63.1). 
The increase is primarily due to a change in the product mix in 
Digital Identity, which had a positive impact on the gross 
margin. Total amortization of capitalized development 
expenses was SEK 12.5 (13.9) million. Amortization of acquired 
intangible assets totaled SEK 1.8 (1.8) million.  
Operating expenses for the interim period decreased to SEK 
54.6 (55.6) million, primarily due to lower R&D expenses. The 
profit/loss at EBITDA level increased to SEK 9.9 ( -2.3) 
million.The improved EBITDA result is primarily attributable to 
higher royalty revenues in Biometric Technologies.  
The operating profit/loss (EBIT) for the interim period totaled 
SEK -7.3 (-21.0) million. The improved operating profit/loss is 
due to higher sales. Earnings for the interim period totaled SEK 
-7.1 (-21.4) million. Total depreciation/amortization totaled SEK 
17.3 (18.8) million. Earnings per share (average number of 
shares) for the interim period totaled SEK -0.1 (-0.3).  
NET FINANCIAL ITEMS AND TAX  
Net financial items for the quarter totaled SEK 0.2 (-0.5) million 
and the tax expense totaled SEK 0.1 (0.1) million. Net financial 
items for the interim period totaled SEK -0.1 (-0.7) million and 
the tax expense totaled SEK 0.3 (0.3) million. 
Net financial items are attributable to exchange rate differences 
in cash and cash equivalents, 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 AND INVESTMENTS 
The cash flow for the quarter from operating activities totaled 
SEK 3.3 ( -7.6) million, of which SEK -3.6 ( -6.5) million is 
attributable to changes in working capital. The Group invested 
SEK 0.3 (0.8) million in property, plant and equipment during 
the quarter. Total cash flow for the quarter was SEK 0.0 ( -11.2) 
million.  
Cash flow for the interim period from operating activities 
totaled SEK 4.3 (-7.9) million, of which SEK -5.6 (-5.8) million is 
attributable to changes in working capital. The Group invested 
SEK 0.2 (0.9) million in property, plant and equipment during 
the interim period. Total cash flow for the interim period was 
SEK -5.9 (18.0) million.

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

15 
Interim Report January-September 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
CAPITALIZATION & AMORTIZA-
TION OF DEVELOPMENT WORK 
Development expenses of SEK 2.5 (2.8) million were capitalized 
during the quarter, and amortization of capitalized 
development expenses in respect of Digital Identity and 
Biometric Technologies totaled SEK 4.1 (4.6) million.  
Development expenses of SEK 8.1 (11.6) million were 
capitalized during the interim period, and amortization of 
capitalized development expenses totaled SEK 12.5 (13.9) 
million. 
FINANCIAL POSITION AND 
LIQUIDITY 
Cash and cash equivalents at the end of the period totaled SEK 
41.7 (64.4) million. Total equity at the end of the period was SEK 
152.2 (164.6) million, and equity per share was SEK 1.94 (2.1).  
 
THE PARENT COMPANY 
The parent company’s net sales for the quarter totaled SEK 19.0 
(12.0) million. The operating profit/loss for the quarter totaled 
SEK -0.3 (-8.7) million. Net sales for the interim period totaled 
SEK 52.2 (39.3) million. The operating profit/loss for the interim 
period totaled SEK -8.6 ( -24.4) million and was affected by 
amortization of goodwill totaling SEK 1.8 (1.8) million. Cash and 
cash equivalents at the end of the interim period totaled SEK 
29.2 (52.9) million, and equity totaled SEK 140.8 (152.1) 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 interim period, the Group 
had a workforce of 40 (43) people, including on -site 
consultants. The number of employees was 30 (28), of which 23 
(21) 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  
Q4 Interim Report 2024 – February 13, 2025 
Q1 Interim Report 2025 – May 14, 2025 
AGM 2025 – May 22, 2025 
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 sin ce 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 of 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 qua rter was 22,369 (16,890). 154,050,244 
(19,230,675) PREC shares were traded during the quarter. The 
closing price on September 30 was SEK 3.68 (1.18), and during 
the quarter the share price fluctuated between SEK 8.80 (1.85) 
and SEK 3.22 (1.01).  
 
  
-10
-5
0
5
10
15
20
0
10
20
30
40
50
60
70
80
Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24
S E K m
Operating cash flow & C ash
C ash C ash flow

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

16 
Interim Report January-September 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
AUDIT 
This interim report has been the subject of a summary audit by the company’s auditors. 
The undersigned certify 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, November 15, 2024 
 
 
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 November 15, 2024 at 08:00 AM (CET).

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

17 
Interim Report January-September 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
REVIEW REPORT 
Precise Biometrics AB (publ), corporate identity number 556545-6596 
 
To the Board of Directors of Precise Biometrics AB (publ) 
 
Introduction 
We have reviewed the condensed interim report for Precise Biometrics AB (publ) as at September 30, 2024 and for the nine 
months period then ended. The Board of Directors and the Managing Director are responsible for the preparation and 
presentation of this interim report in accordance with IAS 34 and the Swedish Annual Accounts Act. Our responsibility is to express 
a conclusion on this interim report based on our review. 
Scope of review 
We conducted our review in accordance with the International Standard on Review Engagements, ISRE 2410 Review of Interim 
Financial Statements Performed by the Independent Auditor of the Entity. A review consists of making inquiries, primarily of 
persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is 
substantially less in scope than an audit conducted in accordance with International Standards on Auditing and other generally 
accepted auditing standards in Sweden. The procedures performed in a review do not enable us to obtain assurance that we 
would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit 
opinion. 
Conclusion 
Based on our review, nothing has come to our attention that causes us to believe that the interim report is not prepared, in all 
material respects, in accordance with IAS 34 and the Swedish Annual Accounts Act regarding the Group, and in accordance with 
the Swedish Annual Accounts Act regarding the Parent Company. 
 
Malmö, November 15, 2024 
Ernst & Young AB 
 
 
Martin Henriksson 
Authorized Public Accountant

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

18 
Interim Report January-September 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 subscription price in current option programs.  
  
2024 2023 2024 2023 2023 Rolling
Amounts in SEK thousand Note Jul-Sep Jul-Sep Jan-Sep Jan-Sep Full-year 12 mth
Net sales 2,3 22 799 17 721 65 065 54 758 75 069 85 376
Cost of goods sold -5 863 -6 371 -17 771 -20 208 -27 246 -24 809
Gross profit 16 936 11 350 47 294 34 550 47 823 60 567
Marketing and sales expenses -6 705 -7 064 -24 588 -20 701 -27 420 -31 307
Administrative expenses -2 495 -3 542 -10 089 -10 662 -14 150 -13 577
R&D expenses -6 325 -8 039 -20 219 -24 308 -32 105 -28 016
Other operating income/expenses -260 13 263 83 -606 -425
-15 786 -18 630 -54 634 -55 587 -74 281 -73 328
Operating profit/loss 1 150 -7 280 -7 340 -21 037 -26 458 -12 761
Finacial income/expenses 4 159 -506 -60 -664 -291 313
Profit/Loss before tax 1 309 -7 786 -7 400 -21 701 -26 749 -12 448
Tax 88 89 262 259 346 349
Profit/loss for the period attributable to parent company 
shareholders 1 396 -7 697 -7 138 -21 442 -26 403 -12 099
Earnings per share, remaining operations, SEK*
   - before dilution 0,02 -0,10 -0,09 -0,27 -0,34 -0,15
   - after dilution 0,02 -0,10 -0,09 -0,27 -0,34 -0,15
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Profit/Loss for the period 1 396 -7 697 -7 138 -21 442 -26 403 -12 099
Other comprehensive income:
Items that may be reclassified to profit or loss
Changes in accumulated exchange rate differences -125 -5 16 69 -127 -180
Other comprehensive income for the period -125 -5 16 69 -127 -180
Profit/Loss total attributable to holders of participations in 
the parent company 1 271 -7 702 -7 122 -21 373 -26 530 -12 279

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

19 
Interim Report January-September 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
CONSOLIDATED BALANCE SHEET, 
IN SUMMARY  
 
 
 
 
 
  
Amounts in SEK thousand
ASSETS Note 2024-09-30 2023-09-30 2023-12-31
FIXED ASSETS
Material assets 9 645 7 217 6 447
Goodw ill and immaterial assets 126 408 134 736 132 751
TOTAL FIXED ASSETS 136 053 141 953 139 198
CURRENT ASSETS
Inventories 231 467 359
Accounts receivable 15 836 9 461 19 173
Other current receivabels 4 388 4 279 3 499
Accruals and deferred income 2 710 2 817 2 903
Cash and cash equivalents 4,6 41 650 64 382 47 534
TOTAL CURRENT ASSETS 64 815 81 407 73 467
TOTAL ASSETS 200 868 223 360 212 665
EQUITY AND LIABILITIES
EQUITY
Equity 152 200 164 577 159 319
TOTAL EQUITY ATTRIBUTABLE TO PARENT 
COMPANY SHAREHOLDERS 152 200 164 577 159 319
LONG-TERM DEBT
Long term debt 6 21 150 24 232 17 460
TOTAL LONG-TERM DEBT 21 150 24 232 17 460
SHORT-TERM LIABILITIES
Short-term liabilities 4,6 27 518 34 551 35 886
Total Short-term liabilities 27 518 34 551 35 886
TOTAL EQUITY AND LIABILITIES 200 868 223 360 212 665

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

20 
Interim Report January-September 2024 
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. 
  
2024 2023 2024 2023 2023 Rolling
Amounts in SEK thousand Note Jul-Sep Jul-Sep Jan-Sep Jan-Sep Full-year 12 mth
Cash flow from operating activities
Operating profit/loss 1 150 -7 280 -7 340 -21 037 -26 458 -12 762
Adjustments for items not included in cash flow 5 519 6 299 17 267 18 867 24 843 23 243
Interest payments, net 159 -74 -60 13 386 313
Tax paid -2 -2 -13 -12 -9 -10
Cash flow from operating activities 6 826 -1 057 9 854 -2 169 -1 238 10 785
before changes in working capital
Cash flow from changes in working capital
Change in inventories 60 1 128 -156 -48 236
Change in current receivables 3 609 35 2 668 1 991 -7 083 -6 405
Change in current liabilities -7 221 -6 520 -8 352 -7 598 -2 392 -3 146
-3 552 -6 484 -5 556 -5 763 -9 522 -9 315
Cash flow from operating activities 3 275 -7 542 4 298 -7 932 -10 760 1 470
Acquisition of subsidiaries 6 0 0 0 0 -10 000 -10 000
Investment in fixed assets -343 -811 -236 -855 -1 215 -596
Investment in intangible assets -2 327 -2 163 -8 056 -11 177 -14 101 -10 980
Cash flow from investing activities -2 670 -2 974 -8 292 -12 032 -25 316 -21 576
New  share issue 0 0 0 49 523 49 523 0
Commission expenses 0 -123 0 -9 979 -9 979 0
Repurchase of ow n shares 0 0 -2 0 0 -2
Payment for sale/buy-back of options 0 0 0 0 0 0
Payment of lease liability -641 -567 -1 901 -1 628 -2 258 -2 531
Cash flow from financing activities -641 -690 -1 903 37 917 37 287 -2 533
Total Cash flow -36 -11 204 -5 897 17 954 1 211 -22 640
Cash & cash equivalents at beginning of year 41 746 75 584 47 534 46 405 46 405 64 382
Exchange rate differences in cash & cash equivalents -60 1 13 23 -83 -93
Cash & cash equivalents at end of period 1) 41 650 64 382 41 650 64 382 47 533 41 650

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

21 
Interim Report January-September 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
CHANGE IN EQUITY (GROUP), 
IN SUMMARY  
 
 
 
 
 
 
 
 
 
 
 
 
Amounts in SEK thousand 2024 2023 2023 Rolling
Note Jan-Sep Jan-Sep Full year 12 months
Equity at start of period 159 319 146 302 146 302 164 577
Comprehensive income
Profit/loss for the period -7 138 -21 442 -26 403 -12 099
Other comprehensive income
Exchange differences 16 69 -127 -180
Total other comprehensive income 16 69 -127 -180
Total comprehensive income -7 122 -21 373 -26 530 -12 279
Transactions with shareholders
LTI programme 5 2 105 3 -99
New  share issue 0 49 523 49 523 0
New  issue cost 0 -9 979 -9 979 0
Total transactions w ith shareholders 2 39 649 39 547 -99
Equity end of period 152 200 164 577 159 319 152 200

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

22 
Interim Report January-September 2024 
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 2023 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. 
  
2024 2023 2024 2023 2023 Rolling
Amounts in SEK thousand  Jul-Sep Jul-Sep Jan-Sep Jan-Sep Full-year 12 mth
Segment 
Biometric Technologies (fd Algo)
Royalty 10 998 4 062 29 583 11 637 17 654 35 600
Licenses, incl. support & maintenance 6 352 7 382 17 347 24 167 31 500 24 679
Other 114 1 191 2 284 3 096 3 658 2 845
Digital Identity 
Licenses, incl. support & maintenance 4 607 4 449 13 804 13 296 18 308 18 816
Other 728 636 2 048 2 561 3 949 3 436
Total 22 799 17 721 65 065 54 758 75 069 85 376
Timing of revenue recognition
At point in time* 13 599 10 024 35 361 17 599 25 394 43 157
Over time** 9 200 7 697 29 704 37 159 49 675 42 219
Total 22 799 17 721 65 065 54 758 75 069 85 376
Region/Country
Europe 7 985 6 813 20 927 21 515 29 054 28 465
   - w hereof Sw eden 4 884 4 891 15 199 15 792 20 982 20 388
Asia 6 272 6 620 22 192 22 148 31 205 31 248
   - w hereof China 342 352 1 040 2 799 3 152 1 393
   - w hereof Taiw an 5 247 5 553 18 838 17 348 25 224 26 714
USA 8 541 4 287 21 946 11 094 14 811 25 663
Total 22 799 17 721 65 065 54 758 75 069 85 376

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

23 
Interim Report January-September 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 17 465 5 334 22 799 12 635 5 086 17 721
Cost of goods sold -3 143 -2 720 -5 863 -2 517 -3 854 -6 371
Gross profit 14 322 2 614 16 936 10 118 1 232 11 350
Biometric 
Technologies
Digital 
Identity 
Total 
Segment
Biometric 
Technologies
Digital 
Identity 
Total 
Segment
Net sales 49 214 15 851 65 065 38 900 15 858 54 758
Cost of goods sold -7 923 -9 849 -17 771 -7 607 -12 601 -20 208
Gross profit 41 291 6 003 47 294 31 293 3 257 34 550
Biometric 
Technologies
Digital 
Identity 
Total 
Segment
Biometric 
Technologies
Digital 
Identity 
Total 
Segment
Net sales 52 812 22 258 75 069 63 125 22 251 85 376
Cost of goods sold -10 171 -17 075 -27 246 -10 486 -14 322 -24 809
Gross profit 42 641 5 182 47 823 52 639 7 929 60 567
Other information
2024 2023 2024 2023 2023 Rolling
Reconciliation profit/Loss Jul-Sep Jul-Sep Jan-Sep Jan-Sep Full-year 12 mth 
Gross profit 16 936 11 350 47 294 34 550 47 823 60 567
Marketing and sales expenses -6 705 -7 064 -24 588 -20 701 -27 420 -31 307
Administrative expenses -2 495 -3 542 -10 089 -10 662 -14 150 -13 577
R&D expenses -6 325 -8 039 -20 219 -24 308 -32 105 -28 016
Other operating income/expenses -260 13 263 83 -606 -425
Finacial income/expenses 159 -506 -60 -664 -291 313
Profit/Loss before tax 1 309 -7 787 -7 400 -21 702 -26 749 -12 447
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
Jul-Sep
2024 2023
Jul-Sep
2024 2023
Jan-Sep Jan-Sep
2023 Rolling
Full-year 12 mth

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

24 
Interim Report January-September 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 
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). 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%, will be added from November 30, 2023 until the 
amounts have been paid. The liability is recognized as an interest-bearing liability as of September 30, 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 6,089 thousand) and other non-current liabilities (SEK 11,317 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 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 September 
30, 2024, 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 2024 (REPORTED IN INVESTING ACTIVITIES): 
There is no impact on the Group’s cash and cash equivalents during Q3 2024. 
See Note 4 regarding repayment of liability.

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

25 
Interim Report January-September 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
PARENT COMPANY INCOME STATEMENT, 
IN SUMMARY 
 
 
 
  
2024 2023 2024 2023 2023 Rolling
Amounts in SEK thousand Note Jul-Sep Jul-Sep Jan-Sep Jan-Sep Full year  12 mth
Net sales 1 18 994 11 998 52 202 39 282 53 787 66 707
Cost of goods sold -8 229 -6 907 -23 555 -24 153 -32 709 -32 111
Gross profit 10 765 5 091 28 647 15 129 21 078 34 596
Marketing and sales expenses -4 120 -4 842 -15 429 -14 330 -18 552 -19 651
Administrative expenses -2 386 -3 370 -9 671 -10 050 -13 203 -12 824
R&D expenses -4 140 -5 563 -12 434 -15 200 -19 813 -17 047
Other operating income/expenses -400 28 267 46 -626 -405
-11 046 -13 747 -37 267 -39 534 -52 194 -49 927
Operating profit/loss -281 -8 656 -8 620 -24 405 -31 116 -15 332
Financial income/expenses 197 -454 152 -493 -109 536
Group contributions received 0 0 0 0 3 487 3 487
Profit/loss before tax -84 -9 110 -8 468 -24 898 -27 738 -11 308
Tax 0 0 0 0 0 0
Profit/loss for the period -84 -9 110 -8 468 -24 898 -27 738 -11 308

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

26 
Interim Report January-September 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
PARENT COMPANY BALANCE SHEET, 
IN SUMMARY  
 
Amounts in SEK thousand
ASSETS Note 2024-09-30 2023-09-30 2023-12-31
Fixed assets
Fixed assets 1 344 2 194 2 056
Immaterial assets 24 579 34 072 31 630
Deferred tax assets 90 558 90 558 90 558
TOTAL FIXED ASSETS 116 481 126 824 124 244
CURRENT ASSETS
Inventories 0 311 64
Accounts receivable 13 713 6 823 13 704
Receivable Group 10 689 7 558 10 988
Other receivables 2 623 2 516 2 250
Accruals and deferred income 2 236 2 314 2 488
Cash and cash equivalents 29 240 52 939 35 618
TOTAL CURRENT ASSETS 58 501 72 462 65 112
TOTAL ASSETS 174 982 199 286 189 356
EQUITY AND LIABILITIES
Restricted Equity
Share capital 23 539 23 539 23 539
Paid-in unregistered share capital 0 0 0
Statutory reserve 1 445 1 445 1 445
Reserve for development expenses 16 885 23 204 21 556
Total restricted equity 41 868 48 188 46 540
Unrestricted Equity
Share premium reserve 168 316 168 316 168 316
Retained earnings -60 916 -39 498 -37 849
Profit/loss for the year -8 468 -24 899 -27 738
Total non-restricted equity 98 933 103 919 102 729
Total Equity 140 801 152 107 149 269
LONG-TERM DEBT
Long term debt 11 317 17 330 11 302
TOTAL LONG-TERM DEBT 11 317 17 330 11 302
SHORT-TERM LIABILITIES
Short-term liabilities 22 864 29 849 28 785
Total Short-term liabilities 22 864 29 849 28 785
TOTAL EQUITY AND LIABILITIES 174 982 199 286 189 356

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

27 
Interim Report January-September 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
CONSOLIDATED KEY INDICATORS 
 
 
* The key indicator is calculated excluding current liabilities to EastCoast International AB 
2024 2023 2024 2023 2023 Rolling
Amounts in SEK thousands unless otherw ise stated Jul-Sep Jul-Sep Jan-Sep Jan-Sep Full-year 12 mth
Net sales 22 799 17 721 65 065 54 758 75 069 85 376
Net sales grow th, % 28,7% -5,8% 18,8% -23,7% -17,5% 15,3%
Gross margin, % 74,3% 64,0% 72,7% 63,1% 63,7% 70,9%
EBITDA 6 785 -1 088 9 943 -2 281 -1 691 10 532
Operating profit/loss 1 150 -7 280 -7 340 -21 037 -26 458 -12 761
Working capital * 43 386 56 825 43 386 56 825 43 683 43 386
Capital employed 169 606 164 576 169 606 164 576 176 724 169 606
Liquidity ratio, % 234,7% 234% 234,7% 234% 203,7% 235%
Equity/assets ratio, % 75,8% 73,7% 75,8% 73,7% 74,9% 75,8%
Earnings per share before dilution, SEK 0,02 -0,10 -0,09 -0,27 -0,34 -0,15
Earnings per share after dilution, SEK 0,02 -0,10 -0,09 -0,27 -0,34 -0,15
Equity per share, SEK 1,94 2,10 1,94 2,10 2,03 1,94
Number of shares (thousands) 78 464 78 464 78 464 78 464 78 464 78 464
Weighted avg. number of shares, adjusted for dilution 
effect (thousands) 78 464 78 464 78 464 61 269 65 568 78 464
Number of employees at the end of the period 30 28 30 28 31 30
Average number of employees during the period 30 30 31 31 30 31
Annual Recurring Revenue 18 434 17 755 18 434 17 755 18 307 18 434

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28 
Interim Report January-September 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
ALTERNATIVE CONSOLIDATED KEY 
INDICATORS 
 
Amounts in SEK thousands 2024 2023 2024 2023 2023 Rolling
unless otherw ise stated Jul-Sep Jul-Sep Jan-Sep Jan-Sep Full-year 12 mth
Net sales 22 799 17 721 65 065 54 758 75 069 85 376
Net sales grow th, % 28,7% -5,8% 18,8% -23,7% -17,5% 15,3%
Gross profit 16 936 11 350 47 294 34 550 47 823 60 567
Net sales 22 799 17 721 65 065 54 758 75 069 85 376
Gross margin, % 74,3% 64,0% 72,7% 63,1% 63,7% 70,9%
Operating profit/loss 1 150 -7 280 -7 340 -21 037 -26 458 -12 761
Net sales 22 799 17 721 65 065 54 758 75 069 85 376
Operating margin, % 5,0% -41,1% -11,3% -38,4% -35,2% -14,9%
EBITDA 6 785 -1 088 9 943 -2 281 -1 691 10 532
Depreciation and amortization -5 636 -6 192 -17 283 -18 756 -24 767 -23 294
Operating profit/loss 1 149 -7 280 -7 340 -21 037 -26 458 -12 762
Current assets 64 815 81 407 64 815 81 407 73 467 56 875
Current liabilities excl. current liabilities EastCoast 
International* 21 429 24 582 21 429 24 582 29 784 26 631
Working capital 43 386 56 825 43 386 56 825 43 683 30 244
Sales expenses -6 705 -7 064 -24 588 -20 701 -27 420 -31 307
Administrative expenses -2 495 -3 542 -10 089 -10 662 -14 150 -13 577
R&D expenses -6 325 -8 039 -20 219 -24 308 -32 105 -28 016
Other operating income/expenses -260 13 263 83 -606 -425
Total operating expenses -15 786 -18 631 -54 634 -55 588 -74 281 -73 326
Cost of goods and services sold -5 863 -6 371 -17 771 -20 208 -27 246 -24 809
Depreciation Cost of goods sold 4 498 5 087 13 842 15 339 20 244 18 747
Cost of goods and services sold excluding 
depreciation -1 365 -1 284 -3 929 -4 869 -7 002 -6 062
Operating expenses -15 786 -18 631 -54 634 -55 588 -74 281 -73 326
Depreciation Operating expenses 1 137 1 104 3 441 3 416 4 523 4 548
Operating costs excluding depreciation -14 649 -17 527 -51 193 -52 172 -69 758 -80 823
Balance sheet total 200 868 223 360 200 868 223 360 212 665 200 868
Non-interest-bearing liabilities 31 262 58 783 31 262 58 783 35 941 31 262
Capital employed 169 606 164 576 169 606 164 576 176 724 169 606
Closing equity 152 200 164 577 152 200 164 577 159 319 152 200
Average equity 154 739 155 526 154 739 155 526 158 780 154 739
Current assets minus inventories 64 584 80 940 64 584 80 940 73 109 64 584
Current liabilities 27 518 34 551 27 518 34 551 35 886 27 518
Liquidity ratio, % 235% 234% 235% 234% 204% 235%
Equity 152 200 164 577 152 200 164 577 159 319 152 200
Total assets 200 868 223 360 200 868 223 360 212 665 200 868
Equity/assets ratio, % 75,8% 73,7% 75,8% 73,7% 74,9% 75,8%

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29 
Interim Report January-September 2024 
Precise Biometrics AB (publ), corp. ID no. 556545-6596 
ANALYSIS OF RESULTS, IN SUMMARY  
 
 
 
 
  
2024 2023 2024 2023 2023 Rolling
Amounts in SEK thousand Note Jul-Sep Jul-Sep Jan-Sep Jan-Sep Full-year 12 mth
Net sales 2,3 22 799 17 721 65 065 54 758 75 069 85 376
Cost of goods and services sold excluding depreciation -1 365 -1 283 -3 929 -4 869 -7 003 -6 062
Operating costs excluding depreciation -14 649 -17 526 -51 193 -52 171 -69 758 -68 780
EBITDA 6 785 -1 088 9 943 -2 281 -1 691 10 533
Total depreciation -5 636 -6 192 -17 283 -18 756 -24 767 -23 294
Operating profit/loss 1 149 -7 280 -7 340 -21 037 -26 458 -12 763

===== SIDA 30 =====

30 
Interim Report January-September 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 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. 
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 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. 
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.

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31 
Interim Report January-September 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 indicator 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 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. 
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 weighted average number of shares. 
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 Algo, and therefore license 
fees are not followed up using the definition of ARR in this segment.