Fingerprint Cards (SE:FING.B)
:FING.B
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Fingerprint Cards
(FING.B)
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Rating:48Neutral
Price Target:
kr15.00
▼(-19.01% Downside)
Action:Reiterated
Date:06/06/26
The score is held down primarily by weak financial performance (persistent losses and negative cash flow) and bearish technicals (below key moving averages with negative MACD). Offsetting this, the latest earnings call presented a clearer turnaround framework via the merger synergies and product/pipeline momentum, but execution and near-term liquidity remain key risks; valuation is difficult to anchor due to a negative P/E.
Positive Factors
High gross margin
A 62.3% gross margin indicates strong product-level economics and favorable pricing or mix. That margin provides durable operating leverage potential: as volumes scale or fixed costs are absorbed, higher gross margins materially shorten the path to sustainable operating profitability.
Negative Factors
Weak cash generation and low liquidity
Negative free cash flow and a modest cash balance create a persistent financing overhang until scale or synergies materialize. Structural cash burn increases refinancing risk and limits investment flexibility, making the firm's strategic moves contingent on near-term funding or rapid operational improvements.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margin
A 62.3% gross margin indicates strong product-level economics and favorable pricing or mix. That margin provides durable operating leverage potential: as volumes scale or fixed costs are absorbed, higher gross margins materially shorten the path to sustainable operating profitability.
Read all positive factors
Fingerprint Cards (FING.B) vs. iShares MSCI Sweden ETF (EWD)
Market Cap
kr57.88M
Dividend YieldN/A
Average Volume (3M)66.25K
Price to Earnings (P/E)―
Beta (1Y)1.66
Revenue Growth-71.35%
EPS Growth95.51%
CountrySE
Employees40
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)-12.78
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 Ratio-2.25
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
Revenue Forecast (FY)kr103.00M
Fingerprint Cards Business Overview & Revenue Model
Company Description
Established in Gothenburg, Sweden, in 1971, Fingerprint Cards AB (publ) is a technology company focused on designing, manufacturing, and commercializing advanced biometric systems and technologies. Their comprehensive biometric solutions incorpora...
How the Company Makes Money
Fingerprint Cards makes money primarily by selling fingerprint sensing solutions to device manufacturers and their supply chains. The company’s main revenue stream is product revenue from fingerprint sensor components (and, where applicable, packa...
Fingerprint Cards Earnings Call Summary
Earnings Call Date:May 13, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 13, 2026
Earnings Call Sentiment Positive
Overall the call communicated positive operational momentum (double-digit constant-currency growth, strong 62.3% gross margin), significant product progress with AllKey (large share of new pipeline, software launch, higher ASPs) and a strategically endorsed merger that targets meaningful cost synergies and a quick payback. The principal negatives are a current subscale cost structure (negative EBITDA and negative free cash flow, low cash balance) and the dependency on realizing merger synergies and converting pipeline into revenue over time. On balance the positives (growth, margin, product momentum and a credible merger synergies case) outweigh the near-term financial and scale challenges.Positive Updates
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.
Negative Updates
Negative EBITDA
Q1 EBITDA was negative SEK 14.1 million (including SEK 3 million of non-recurring merger-related OpEx). Pro forma combined FPC + Precise had negative EBITDA of about SEK 19 million for 2025 before synergies.
Read all updates
Q1-2026 Updates
Positive
Negative
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.
Read all positive updates
Company Guidance
Management's forward guidance was that the combined FPC–Precise group should deliver double‑digit revenue growth and double‑digit EBITDA margins (adjusted pro‑forma EBITDA ~17%), with NewCo expected to be EBITDA‑positive after realizing at least SEK 45m of identified annual operating synergies (implementation cash cost ~SEK 25m with an estimated ~7‑month payback); the companies together generated roughly SEK 156–160m revenue in 2025 (each ≈SEK 78m) and a pro‑forma 2025 EBITDA of -SEK 19m, the merger is expected to close around mid‑July, and management expects the AllKey shift to accelerate (75% of Q1 new pipeline was AllKey, 60% of that AllKey pipeline were new clients, AllKey deals show ~3x ASP vs sensors and are expected to drive a revenue mix inflection by 2027–2028), while Q1 reported metrics to note were +4% revenue (21% in constant currency), 62.3% gross margin, EBITDA -SEK 14.1m (including SEK 3m non‑recurring merger OpEx), free cash flow -SEK 13.2m, cash SEK 18.2m, headcount ~50 and a pre‑synergy OpEx run‑rate near SEK 90m.Fingerprint Cards Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
52
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 78.80M | 78.20M | 403.20M | 705.40M | 861.80M | 1.36B |
| Gross Profit | 41.84M | 40.80M | 45.60M | 89.60M | 166.40M | 396.90M |
| EBITDA | -75.20M | -30.60M | -519.70M | -280.40M | -580.40M | 45.00M |
| Net Income | -120.10M | -58.60M | -688.30M | -339.80M | -586.00M | 100.00K |
Balance Sheet | ||||||
| Total Assets | 234.80M | 298.80M | 425.00M | 1.08B | 1.45B | 1.80B |
| Cash, Cash Equivalents and Short-Term Investments | 18.20M | 27.10M | 12.10M | 109.90M | 274.10M | 374.30M |
| Total Debt | 7.00M | 2.90M | 20.40M | 107.50M | 317.30M | 315.50M |
| Total Liabilities | 36.90M | 28.00M | 148.40M | 392.00M | 579.00M | 771.80M |
| Stockholders Equity | 197.90M | 270.80M | 276.60M | 691.60M | 866.50M | 1.03B |
Cash Flow | ||||||
| Free Cash Flow | -30.10M | -57.10M | -207.60M | -135.60M | -438.70M | -65.40M |
| Operating Cash Flow | -32.20M | -55.90M | -207.60M | -88.30M | -334.10M | 24.30M |
| Investing Cash Flow | -1.50M | -1.00M | -11.60M | -46.10M | -104.60M | -91.00M |
| Financing Cash Flow | 300.00K | 74.10M | 118.10M | -25.70M | 328.40M | 58.40M |
Fingerprint Cards Technical Analysis
Positive
18.52
Price Trends
14.01
Positive
15.35
Negative
17.31
Negative
Market Momentum
0.13
Negative
58.81
Neutral
54.66
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:FING.B, the sentiment is Positive. The current price of 18.52 is above the 20-day moving average (MA) of 13.60, above the 50-day MA of 14.01, and above the 200-day MA of 17.31, indicating a neutral trend. The MACD of 0.13 indicates Negative momentum. The RSI at 58.81 is Neutral, neither overbought nor oversold. The STOCH value of 54.66 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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% | |
60 Neutral | kr1.32B | -58.02 | -9.00% | ― | 16.63% | 27.43% | |
53 Neutral | kr67.81M | -14.16 | ― | ― | 23.75% | 35.18% | |
48 Neutral | kr57.88M | -0.97 | -37.93% | ― | -71.35% | 95.51% | |
46 Neutral | kr10.44M | -0.38 | -153.88% | ― | 6.32% | 35.36% |
* Technology Sector Average
SE:FING.B
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Fingerprint Cards Corporate Events
Fingerprint Cards’ AllKey Powers Next-Generation ByteSeal Biometric Vault
Jun 9, 2026
Fingerprint Cards and Indian deep-tech firm Elementik have unveiled a new generation of ByteSeal, Elementik’s biometric hardware credential vault, now powered by FPC’s latest AllKey platform instead of the earlier BM-Lite solution. The...
Fingerprint Cards AGM Opts for No Dividend and Confirms Board Leadership
Jun 3, 2026
Fingerprint Cards AB, a Stockholm-listed biometrics specialist, develops intelligent edge-to-cloud identity solutions used in consumer electronics, payment cards and enterprise cybersecurity, with systems supporting fingerprints, iris and facial r...
Fingerprint Cards Posts Higher Margins as Merger With Precise Biometrics Advances
May 13, 2026
Fingerprint Cards reported first-quarter 2026 revenue of SEK 18.9 million, up 4% year on year, with gross margin improving to 62.3% as it advances a strategy of moving from volume to value in secure biometric authentication. Despite stronger margi...
Fingerprint Cards taps AdvanIDe to scale AllKey Ultra biometric FIDO solution globally
May 12, 2026
Fingerprint Cards has entered a global distribution and channel partnership with AdvanIDe to promote and supply its AllKey Ultra biometric single-chip FIDO authentication solution worldwide. The agreement leverages AdvanIDe’s secure silicon ...
Fingerprint Cards schedules Q1 2026 results webcast and conference
May 6, 2026
Fingerprint Cards AB will present its first-quarter 2026 financial results on May 13, 2026, via a combined webcast and telephone conference starting at 09:00 a.m. CEST, led by CEO Adam Philpott and CFO Fredrik Hedlund in English. The report, webca...
Fingerprint Cards tech powers Crayonic’s new biometric identity Badge
May 6, 2026
Fingerprint Cards has supplied the fingerprint sensor technology for Crayonic’s new Badge, a wearable identity wallet designed to deliver passwordless biometric authentication for both physical and digital access in enterprise and healthcare...
Nasdaq Stockholm Clears Fingerprint Cards to Delist Ahead of Merger
May 5, 2026
Fingerprint Cards AB, a Nasdaq Stockholm-listed biometrics specialist, develops multi-modal identity solutions that secure hundreds of millions of devices and digital platforms worldwide for corporate and financial customers. The company focuses o...
Fingerprint Cards Calls 2026 AGM, Expands Flexible Voting Options
May 4, 2026
Fingerprint Cards AB has convened its 2026 Annual General Meeting for June 3, 2026, to be held at the offices of KANTER Advokatbyrå in central Stockholm. Shareholders can attend in person, be represented by proxy or exercise their rights thro...
Fingerprint Cards Seeks Nasdaq Delisting Ahead of Merger With Precise Biometrics
Apr 30, 2026
Fingerprint Cards AB has applied to delist its B shares from Nasdaq Stockholm, contingent on the completion of its previously announced merger with fellow Swedish biometrics specialist Precise Biometrics AB. The transaction, approved by extraordin...
Fingerprint Cards Releases Comprehensive 2025 Annual Report
Apr 30, 2026
Fingerprint Cards has published its 2025 annual report, providing shareholders and stakeholders with a comprehensive overview of the company’s performance, governance, risk management and sustainability work. The document compiles financial ...
Fingerprint Cards Shareholders Back Merger Into Precise Biometrics and Capital Cut
Apr 30, 2026
Shareholders in Fingerprint Cards AB have approved a merger plan under which the Swedish biometrics specialist will be absorbed by Precise Biometrics AB, with each FPC share converting into nine new ordinary Precise shares once the transaction is ...
Fingerprint Cards Calls Extraordinary General Meeting With Postal Voting Option
Mar 30, 2026
Fingerprint Cards AB has called an Extraordinary General Meeting for April 30, 2026, to be held at the offices of KANTER Advokatbyrå in central Stockholm. The company will allow shareholders to participate either in person, via proxy or throu...
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...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.