IDEX Biometrics ASA: Q3 2026 – record revenue and largest IDEX Access order to date
Summary by AI BETAClose X
Oslo, 12 November 2026 – IDEX Biometrics ASA (Euronext Oslo Børs: IDEX) today reported record revenue of NOK 6.6 million for the third quarter of 2026, four times the second-quarter level. Based on the delivery schedule of the current order backlog, the Company expects fourth-quarter revenue to exceed NOK 14 million, with new orders as upside. Since the second-quarter report, IDEX has received five IDEX Access purchase orders. The largest is an order of more than USD 450,000 from a channel partner, the biggest IDEX Access order to date. Partner scaling has only just begun. Seven of 34 signed partners are selling today, and as the rest activate going forward, activity levels and orders are expected to grow without IDEX growing its cost base.
Highlights Q3 2026 and to date
- Record revenue of NOK 6.6 million (Q2 2026: NOK 1.6 million).
- New orders of NOK 5.3 million (Q2 2026: NOK 1.9 million). The order backlog was NOK 17.9 million at quarter end. During the quarter, IDEX removed a legacy sensor framework order of approximately NOK 3.8 million from the backlog.
- Five IDEX Access purchase orders have come in, both from customers who have tested the solution and from channel partners buying directly. The largest, of more than USD 450,000, is for complete IDEX Access cards for end use in the energy and retail sectors in Europe and APAC. Deliveries start in the fourth quarter.
- The first business is coming through channel partners. 34 partners are signed, and seven of them are already selling IDEX. A further 18 are in enablement, where their sales teams are trained and go-to-market plans are agreed before rollout market by market.
- Operations consolidated in Norway. The UK development site in Farnborough has closed, and engineering and technology are moving to Oslo. Net annual operating costs fall by approximately NOK 20 million from November 2026, about 23% of the annualised third-quarter cost base.
- IDEX Pay: the commercial launch with the Company’s first Indian bank customer is expected in the fourth quarter of 2026.
Outlook
Near term
- Fourth-quarter revenue is expected to exceed NOK 14 million, based on the delivery schedule of the current backlog, with new orders as upside.
- Cash flow could turn positive in the fourth quarter. This mainly requires the backlog to be delivered on schedule and more than NOK 4 million in additional orders to be received for fourth-quarter delivery.
- Operating costs will be approximately NOK 5 million lower per quarter from November 2026. The first quarter of 2027 will be the first full quarter of savings.
Partners drive the next phase
Channel partners are how IDEX will scale, and their contribution is expected to grow from here. The largest IDEX Access order to date, of approximately NOK 4.3 million, came from a single channel partner. Partner scaling has only just begun, however. Of the 34 partners signed, seven are selling today. The remaining 27 are in enablement or have not yet started. Through local resellers and system integrators, IDEX gains market access and sales leverage without adding cost. The opportunity is large: any password login can be replaced by an IDEX card, and today’s focus is critical access inside the enterprise, where AI is making password phishing cheaper, more convincing and much larger in scale. With annual operating costs of NOK 60–80 million, IDEX estimates its break-even volume at approximately 250,000 cards per year, excluding annual service revenue from IDEX Care. As partners activate, IDEX expects activity levels and orders to grow without growing its cost base.
CEO comment
“We have taken important steps forward in the last three months. We started to convert our opportunities into orders and worked extensively on preparing our partners and building our joint go-to-market plans. We are seeing more activity and traction, and the timing is right. Across the industry, from regulators to the largest banks, the conclusion is the same: AI needs a verified human in the loop. That is exactly what an IDEX card does. Now our job is to scale through our partners. Partner scaling has only just begun, and it is how IDEX grows globally without growing its cost base,” says Kjell-Arne Besseberg, CEO of IDEX Biometrics.
Presentation
IDEX will present the results today at 09:30 CET in a live webcast hosted by Executive Chairman Anders Storbråten. The webcast can be followed at:
https://teams.microsoft.com/meet/3625892515109518?p=OvoJPXERIt57VoofOw
The third-quarter report and presentation are attached.
IDEX
Identify yourself as a human
Latest directors dealings
- 1 day ago Savannah Energy
- 1 day ago Buccaneer Energy PLC
- 1 day ago Savannah Energy
- 1 day ago Carclo
- 1 day ago Schroder Japan Growth Fund