Fingerprint Cards (SE:FING.B)
:FING.B
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Fingerprint Cards
(FING.B)
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Rating:47Neutral
Price Target:
kr14.50
▼(-21.71% Downside)
Action:ReiteratedDate:03/11/26
The score is held down mainly by weak financial performance (losses, revenue deterioration, and ongoing cash burn) despite a relatively low-leverage balance sheet. Technicals are neutral-to-weak with the stock below key longer-term moving averages. The latest earnings call is a partial offset due to strong gross margins, FY growth, and early profitability signals, but liquidity and execution risks remain.
Positive Factors
High gross margins and margin guidance
Sustained gross margins near 60% indicate strong product-level economics that protect unit profitability against pricing pressure. Over 2–6 months this margin cushion supports operating leverage as AllKey sales scale, reducing the cash burn per incremental sale and improving path to durable profitability if volumes rise.
Negative Factors
Limited liquidity and persistent cash burn
A small cash buffer and multi-year negative operating cash flow constrain the company's ability to fund lengthy productization cycles and absorb delays. Over 2–6 months this elevates dependence on external financing or one-off asset deals, increasing execution and dilution risk if pipeline conversion lags.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margins and margin guidance
Sustained gross margins near 60% indicate strong product-level economics that protect unit profitability against pricing pressure. Over 2–6 months this margin cushion supports operating leverage as AllKey sales scale, reducing the cash burn per incremental sale and improving path to durable profitability if volumes rise.
Read all positive factors
Fingerprint Cards (FING.B) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr56.25M
Dividend YieldN/A
Average Volume (3M)66.25K
Price to Earnings (P/E)―
Beta (1Y)1.64
Revenue Growth-82.93%
EPS Growth94.83%
CountrySE
Employees40
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)-1.74
Shares Outstanding7,583,750
10 Day Avg. Volume34,392
30 Day Avg. Volume66,255
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.48
Price to Sales (P/S)1.65
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-3.16
Revenue Forecast (FY)kr110.00M
Fingerprint Cards Business Overview & Revenue Model
Company Description
Fingerprint Cards AB (publ) develops, produces, and markets biometric systems and technologies. Its biometric systems include sensors, algorithms, software, and packaging technologies. The company offers biometric solutions for smartphones, PCs, t...
How the Company Makes Money
Fingerprint Cards makes money primarily by selling fingerprint sensor solutions (and related technology) to device manufacturers and other customers that integrate biometric authentication into their products. Revenue is typically generated throug...
Fingerprint Cards Earnings Call Summary
Earnings Call Date:Feb 13, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 29, 2026
Earnings Call Sentiment Positive
The call highlights a positive transformation trajectory: strong full-year growth, very healthy gross margins, early but meaningful AllKey momentum (including a higher-ASP, differentiated AllKey Ultra), expanding pipeline and new-client inflow, and some asset monetization wins. Counterweights are a modest Q4 revenue decline (FX-driven), limited cash balance, pipeline conversion and timing risk given multi-quarter productization cycles, dependence on episodic asset deals, and a leaner headcount that must be offset by productivity gains and channel scaling. Overall, the positives (sustained margins, clear product-market fit for AllKey, revenue growth on the year, and operational discipline) outweigh the near-term risks, but execution on pipeline conversion and liquidity management will be critical.Positive Updates
Strong Full-Year Revenue Growth (2025)
Full-year 2025 revenue up 30% year-on-year, or +40% in constant currency, demonstrating clear multi-quarter improvement and directionality for the business.
Negative Updates
Q4 Revenue Decline and FX Impact
Revenue in Q4 was down 4% year-on-year, with management attributing part of the weakness to FX effects (revenue +9% YoY on a constant currency basis).
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Full-Year Revenue Growth (2025)
Full-year 2025 revenue up 30% year-on-year, or +40% in constant currency, demonstrating clear multi-quarter improvement and directionality for the business.
Read all positive updates
Company Guidance
The company guided that fundamentals are stable while it doubles down on AllKey and asset/licensing deals: Q4 revenue was down 4% YoY (up 9% in constant currency) while full‑year 2025 revenue rose 30% YoY (40% CC); Q4 gross margin was 65.8% (FY gross margin 60.7%), EBITDA and free cash flow were slightly positive in Q4, cash ended at SEK 27.1m (down SEK 1.2m QoQ), and headcount is down 31% YoY (flat vs Q3). Key commercial metrics: AllKey carries ~3x the ASP of sensors, ~50% of existing customers are on an AllKey upgrade path, ~50% of pipeline comprises new clients, pipeline grew >20% from 2026→2027 with ~30% of current‑year pipe AllKey, and the company targets sustaining gross margins in the 50–60% range; productization-to‑volume can take ~9–24 months (typical 18–24).Fingerprint Cards Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
20
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 78.20M | 403.20M | 705.40M | 861.80M | 1.36B |
| Gross Profit | 47.50M | 45.60M | 89.60M | 166.40M | 396.90M |
| EBITDA | -85.30M | -519.70M | -280.40M | -580.40M | 45.00M |
| Net Income | -58.60M | -688.30M | -339.80M | -586.00M | 100.00K |
Balance Sheet | |||||
| Total Assets | 298.80M | 425.00M | 1.08B | 1.45B | 1.80B |
| Cash, Cash Equivalents and Short-Term Investments | 27.10M | 12.10M | 109.90M | 274.10M | 374.30M |
| Total Debt | 2.90M | 20.40M | 107.50M | 317.30M | 315.50M |
| Total Liabilities | 28.00M | 148.40M | 392.00M | 579.00M | 771.80M |
| Stockholders Equity | 270.80M | 276.60M | 691.60M | 866.50M | 1.03B |
Cash Flow | |||||
| Free Cash Flow | 0.00 | -207.60M | -135.60M | -438.70M | -65.40M |
| Operating Cash Flow | -55.90M | -207.60M | -88.30M | -334.10M | 24.30M |
| Investing Cash Flow | -1.00M | -11.60M | -46.10M | -104.60M | -91.00M |
| Financing Cash Flow | 74.10M | 118.10M | -25.70M | 328.40M | 58.40M |
Fingerprint Cards Technical Analysis
Negative
18.52
Price Trends
17.00
Negative
18.43
Negative
20.34
Negative
Market Momentum
-0.55
Positive
37.96
Neutral
34.38
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:FING.B, the sentiment is Negative. The current price of 18.52 is above the 20-day moving average (MA) of 16.12, above the 50-day MA of 17.00, and below the 200-day MA of 20.34, indicating a bearish trend. The MACD of -0.55 indicates Positive momentum. The RSI at 37.96 is Neutral, neither overbought nor oversold. The STOCH value of 34.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:FING.B.
Fingerprint Cards Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
50 Neutral | kr72.77M | -9.07 | ― | ― | -15.54% | -263.54% | |
47 Neutral | kr56.25M | -2.20 | -37.93% | ― | -82.93% | 94.83% | |
47 Neutral | kr8.08M | -0.29 | -153.88% | ― | -0.75% | 65.47% | |
47 Neutral | kr740.10M | -42.57 | -9.00% | ― | -1.32% | 51.89% |
* Technology Sector Average
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Fingerprint Cards Corporate Events
Fingerprint Cards First to Clear EMVCo’s New Biometric Payment Card Test
Mar 25, 2026
Fingerprint Cards has become the first biometric company to pass EMVCo’s new assessment for fingerprint sensors in payment cards, meeting stricter global standards for security and performance introduced in late 2025. The certified solution ...
Precise Biometrics and Fingerprint Cards in Merger of Equals to Forge Biometrics Leader
Mar 23, 2026
Precise Biometrics and Fingerprint Cards have agreed to a statutory merger of equals under Swedish law, with Precise Biometrics absorbing Fingerprint Cards to form a combined biometrics and identity company. The transaction is structured as a shar...
Fingerprint Cards Board Backs Merger with Precise Biometrics to Build Scaled Identity Player
Mar 23, 2026
Fingerprint Cards’ board has unanimously endorsed a merger with fellow Swedish biometrics player Precise Biometrics, under which Precise will absorb Fingerprint Cards and shareholders in the latter will receive nine new Precise shares for ea...
Precise Biometrics and Fingerprint Cards Plan Merger to Build Global Identity Leader
Mar 23, 2026
Precise Biometrics and Fingerprint Cards have agreed on a joint merger plan aimed at creating a global leader in biometrics and digital identity solutions. The CEOs of both companies will present the proposed transaction and take investor question...
Fingerprint Cards and Smart Eye unveil long-range multi-modal biometric system
Mar 12, 2026
Fingerprint Cards and Human Insight AI specialist Smart Eye have jointly developed a multi-modal biometric authentication system that combines facial recognition with iris verification using a single camera. The solution is designed to deliver sea...
Fingerprint Cards launches AllKey platform to push deeper into secure IoT and embedded markets
Mar 9, 2026
Fingerprint Cards has unveiled the AllKey Software Platform, a fully integrated biometric solution that lets customers build and run applications directly on secure AllKey devices using the company’s fingerprint authentication technology. By...
CardLab launches FPC-powered FIDO biometric smart card for enterprise access
Mar 5, 2026
CardLab Innovation has launched Access FIDO, a multi-function smart card that combines physical and logical access control using Fingerprint Cards’ biometric technology and FIDO2-certified, password-free authentication. The card targets use ...
Fingerprint Cards Narrows Losses as AllKey Growth Lifts 2025 Revenue
Feb 13, 2026
Fingerprint Cards reported a 30 percent rise in full-year 2025 revenue to SEK 78.2 million, driven by its biometrics and secure access offerings, while gross margins held steady at around 61 percent. The company also strengthened its product portf...
Fingerprint Cards Board Member John Lord Steps Down Amid Routine Governance Refresh
Feb 11, 2026
Fingerprint Cards AB announced that board member John Lord is stepping down from the Board of Directors due to increasing professional commitments, though he expressed continued support for the company and its leadership. Chairman Christian Lagerl...
Fingerprint Cards to Present Q4 2025 Results in Webcast on 13 February
Feb 6, 2026
Fingerprint Cards AB has invited investors, analysts and media to a combined webcast and telephone conference on 13 February 2026 at 09:00 CET, when CEO Adam Philpott and CFO Fredrik Hedlund will present the company’s fourth-quarter 2025 res...
Fingerprint Cards powers new biometric server-rack access control for India’s data centres
Jan 27, 2026
Fingerprint Cards AB (FPC) has supplied its FPC AllKey biometric technology to ActChip and Dynamic Technologies for a new biometric server rack access control solution tailored to India’s fast-growing data centre market. The system shifts bi...
Glossary
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Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.