Top-line Growth
Revenue increased 4% year-on-year (real terms) and 21% on a constant-currency basis in Q1 2026, reflecting strong underlying demand.
Strong Gross Margin
Reported gross margin was 62.3% on core product revenue — higher than Q1 2025 and above the 2025 average gross margin, indicating healthy product mix and pricing.
AllKey Product Momentum
AllKey accounted for 75% of new pipeline by revenue in Q1; 60% of the AllKey pipeline added in Q1 was from new clients. Management reports 3x average selling price (ASP) economics for AllKey versus sensor deals and launched the AllKey software platform in Q1 to expand system-level offerings and new use cases.
Merger Approved with Clear Synergy Target
Shareholders approved the merger with Precise Biometrics (EGM April 30). Management identified at least SEK 45 million in annual operating cost synergies and expects the combined company to deliver double-digit revenue growth and double-digit EBITDA margins (adjusted pro forma EBITDA ~17%).
Rapid Synergy Payback Case
Management estimates the cash cost to realize the SEK 45 million of synergies at about SEK 25 million with an estimated payback of roughly 7 months, supporting a quick improvement in profitability.
Complementary Capabilities and Integration Readiness
Merger combines complementary hardware (FPC) and software (Precise) capabilities, multimodal biometric offerings and expanded go-to-market reach. Integration planning is active with a named integration leader and expected timing for closing around mid-July; management reports low cultural/integration risk.
Operational Discipline
Company maintained OpEx discipline (headcount 50) while growing revenue and is leveraging process improvements and AI to increase productivity without materially increasing operating costs.