Fingerprint Cards (FING.B) AI Stock Analysis

• Market Cap: kr57.19M
• Dividend Yield: N/A
• Average Volume (3M): 66.25K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.94
• Revenue Growth: -82.93%
• EPS Growth: 94.83%
• Country: SE
• Employees: 40
• Sector: Technology
• Sector Strength: 88
• Industry: Hardware, Equipment & Parts
• EPS (TTM): -1.74
• Shares Outstanding: 7,583,750
• 10 Day Avg. Volume: 34,392
• 30 Day Avg. Volume: 66,255
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.48
• Price to Sales (P/S): 1.65
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): -3.16
• Revenue Forecast (FY): kr110.00M

• Rating: 49 Neutral
• Price Target: kr15.00 ▼(-19.01% Downside)
• Action: Reiterated Date: 02/18/26
• Date: Action: Reiterated 02/18/26

The score is held back primarily by weak financial performance (sustained losses and multi-year cash burn) and a still-soft technical setup (below key moving averages with negative MACD). The latest earnings call provides a meaningful offset with strong full-year growth, high gross margins, and early AllKey traction, but liquidity and pipeline-conversion risk keep the overall rating below average.

Positive Factors

High gross margins

Sustained very high gross margins signal structural pricing power and a favorable product mix (hardware plus differentiated software/IP). If management can keep 50–60% margins as volumes scale, margin durability supports faster profit recovery than revenue alone and provides buffer against component pricing pressure.

AllKey product differentiation

AllKey's higher ASP and clear upgrade pipeline create a durable competitive advantage vs. commoditized sensors. The product premium and adoption among existing customers improve revenue per design win and raise the company's moat, making future revenue less dependent on low‑margin volume alone.

Revenue recovery and expanding pipeline

A full‑year revenue rebound combined with >20% pipeline growth and a high share of new clients indicates improving commercial traction and diversification. If conversion executes over medium term, this structural recovery can restore scale economics and support sustained margin realization.

Negative Factors

Weak cash generation and low liquidity

Persistent negative operating cash flow and a thin cash balance constrain the company's ability to fund productization, inventory and commercialization. Ongoing cash burn increases dependence on external financing and raises execution and dilution risk if design wins take multiple quarters to convert.

Sustained losses and shrinking scale

Multi‑year revenue contraction and sustained operating losses have eroded equity and operational scale, limiting fixed‑cost absorption and reinvestment capacity. A durable turnaround requires consistent design wins and volume ramp; otherwise continued shrinkage threatens long‑term viability.

Long conversion cycles and reliance on episodic deals

Lengthy productization timelines reduce revenue visibility and delay cash realization from the expanding pipeline. Coupled with reliance on one‑off asset/licensing monetizations, this increases revenue volatility and complicates working capital and liquidity planning over the medium term.

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, tablets, smart cards, door locks, authentication keys, vehicles, payment cards, internet of thing (IoT), and the automotive industry. It also offers various development tools for software development and production. The company sells its products through distributors and resellers. The company serves customers in Sweden, Asia, South and North America, Europe, the Middle East, and Africa. Fingerprint Cards AB (publ) was incorporated in 1971 and is headquartered in Gothenburg, Sweden.

How the Company Makes Money

Fingerprint Cards generates revenue primarily through the sale of its biometric sensors and solutions to original equipment manufacturers (OEMs) and system integrators. Key revenue streams include the sale of fingerprint sensors for smartphones, tablets, and wearable devices, as well as licensing agreements for its biometric software technology. The company has established significant partnerships with major players in the mobile device market, which helps drive sales volume. Additionally, Fingerprint Cards may benefit from ongoing service agreements and support contracts related to its products, contributing further to its earnings.

Fingerprint Cards Financial Statement Overview

Summary

Weak profitability and cash generation: multi-year revenue contraction with sustained operating and net losses, and negative operating cash flow in 2022–2025. The balance sheet is a partial offset with low leverage in 2025, but shrinking equity/assets and ongoing cash burn remain key risks.

Income Statement

The income statement shows a sharp multi-year deterioration in scale and profitability. Revenue fell materially from 2020–2025 (with a steep drop in 2025), and results have been consistently loss-making since 2022 after a near-breakeven 2021. While 2025 gross margin improved significantly versus 2022–2024, operating losses remain very large (negative operating margin and negative net margin), indicating that cost structure and/or pricing pressure continue to overwhelm gross profit.

Balance Sheet

The balance sheet is a relative bright spot: leverage appears low in the most recent year (very low debt compared with equity in 2025), which reduces refinancing and solvency risk. However, equity and the asset base have trended down substantially versus prior years, consistent with ongoing losses and potential balance-sheet shrinkage. Overall, the company looks lightly levered but still exposed to continued value erosion if losses persist.

Cash Flow

Cash flow quality is weak, driven by persistent cash burn. Operating cash flow has been negative in 2022–2025, including a large outflow in 2024 and continued outflow in 2025, which is not supportive of self-funding operations. Free cash flow has also been negative in most years (and effectively absent in 2025 based on the provided data), meaning the business likely relies on external funding or balance-sheet resources to sustain operations despite some year-to-year improvement in cash burn from 2024 to 2025.

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

• Technical Analysis Sentiment: Negative
• Last Price: 18.52
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

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 17.05, above the 50-day MA of 17.95, and below the 200-day MA of 21.07, indicating a bearish trend. The MACD of -0.77 indicates Positive momentum. The RSI at 24.89 is Positive, neither overbought nor oversold. The STOCH value of 5.75 is Positive, 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
FING.B	49 Neutral	kr57.19M	-2.20	-37.93%	―	-82.93%	94.83%
RO	47 Neutral	kr60.26M	-2.67	-26.75%	―	-0.73%	-136.62%
ACCON	47 Neutral	kr804.34M	-42.57	-9.00%	―	-1.32%	51.89%
GPX	45 Neutral	kr66.22M	-9.07	―	―	-15.54%	-263.54%
INSP	41 Neutral	kr3.50M	-0.29	-93.13%	―	-0.75%	65.47%

Fingerprint Cards Corporate Events

Fingerprint Cards Narrows Losses as AllKey Growth Lifts 2025 Revenue

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 portfolio by launching FPC AllKey Ultra, a Secure Element-based addition to its AllKey range aimed at expanding scalable, high-security authentication solutions.

Operationally, the group showed a sharp improvement in earnings quality, with fourth-quarter EBITDA turning slightly positive and cash flow from operating activities improving compared with heavy losses a year earlier. Despite this progress, the company still posted a full-year operating loss of SEK 59.2 million and negative cash flow, prompting the board to propose no dividend for 2025 as management prioritizes cash preservation, profitability and continued restructuring of the business.

The most recent analyst rating on ($SE:FING.B) stock is a Sell with a SEK17.50 price target. To see the full list of analyst forecasts on Fingerprint Cards stock, see the SE:FING.B Stock Forecast page.

Fingerprint Cards Board Member John Lord Steps Down Amid Routine Governance Refresh

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 Lagerling thanked Lord for his contributions and emphasized that the board remains focused on executing the company’s operational and strategic priorities.

The company’s Nomination Committee has begun the process of identifying and proposing new board candidates for election at a future general meeting, signaling an orderly transition in governance rather than a shift in strategic direction. The change is framed as a routine board refresh that is not expected to disrupt Fingerprint Cards’ ongoing initiatives in the biometrics market or its engagement with key stakeholders.

The most recent analyst rating on ($SE:FING.B) stock is a Sell with a SEK17.50 price target. To see the full list of analyst forecasts on Fingerprint Cards stock, see the SE:FING.B Stock Forecast page.

Fingerprint Cards to Present Q4 2025 Results in Webcast on 13 February

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 results in English. The quarterly report, along with presentation materials and a question facility, will be available via the company’s website and webcast platform, underlining FPC’s efforts to maintain transparent communication with the market as it seeks to reinforce its position as a leading biometrics provider.

The most recent analyst rating on ($SE:FING.B) stock is a Sell with a SEK17.50 price target. To see the full list of analyst forecasts on Fingerprint Cards stock, see the SE:FING.B Stock Forecast page.

Fingerprint Cards powers new biometric server-rack access control for India’s data centres

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 biometric security from the perimeter and room level down to individual server racks, adding a granular security layer aimed at reducing the risk of unauthorized access to critical infrastructure. The collaboration broadens FPC’s presence in data-centre and bio-security applications, while enabling ActChip and Dynamic Technologies to expand into biometric access control; it underscores India’s importance as a key growth market for FPC as demand rises for robust, integrated biometric solutions in data centres and avionics infrastructure.

The most recent analyst rating on ($SE:FING.B) stock is a Sell with a SEK17.50 price target. To see the full list of analyst forecasts on Fingerprint Cards stock, see the SE:FING.B Stock Forecast page.

FPC’s Biometric System Chosen for Mettlesemi’s Next-Gen Authenticators

Fingerprint Cards AB (FPC) has announced that its FPC AllKey Pro biometric system will be used in Mettlesemi’s next-generation Vishwaas Authenticators, set to launch in Q2 2026. This collaboration marks a significant milestone for FPC, highlighting its growing presence in the Indian market and reinforcing the AllKey product family’s relevance as a scalable platform for biometric-enabled security devices. The partnership with Mettlesemi underscores the trust in FPC’s technology and supports the global shift towards passwordless login standards, driven by increasing enterprise security needs and digital transformation initiatives.

The most recent analyst rating on ($SE:FING.B) stock is a Hold with a SEK21.50 price target. To see the full list of analyst forecasts on Fingerprint Cards stock, see the SE:FING.B Stock Forecast page.