Oslo, 1 July 2026: The Board of Directors ("the Board") of NEXT Biometrics Group
ASA has completed an initial strategic and operational review of the Company
following the appointment of the newly constituted Board.
The current Board was constituted on 16 June 2026, when Jon H. Nordbrekken
(owning 100% of Valset Invest AS, being the Company's largest shareholder with
an ownership interest of approximately 17%) joined the Board in accordance with
the resolution made by the annual general meeting of the Company on 19 May 2026,
and Siri Børsum retired from the Board.
Although the newly constituted Board has had just over two weeks to assess the
Company's position, it has conducted an extensive review of the Company's
operations, financial position, technology portfolio and strategic alternatives.
The Board has concluded that immediate actions are required to strengthen the
Company's financial position, significantly reduce its cost base and sharpen its
strategic focus.
As a result of this review, the Board has concluded that the Company's future
should be centered exclusively around its next-generation Anywhere-in-DisplayTM
technology, which the Board believes represents the Company's most attractive
long-term commercial opportunity. Consequently, the legacy fingerprint sensor
business will no longer constitute the Company's primary strategic focus.
To support this strategic transition, the Company has initiated discussions with
several external parties regarding the potential sale of its existing
fingerprint sensor inventory, as well as the sale or licensing of selected
intellectual property rights related to the legacy business. The Company has
taken the decision to outsource its manufacturing, including production
equipment and related operational resources. These initiatives are intended to
maximize value from the existing business while ensuring continuity of supply to
current customers.
In parallel, the Board has initiated further cost reduction measures with the
objective of reducing the Company's annual operating cost base significantly
below the approximately NOK 65 million annual run rate reported in the Company's
Q1 2026 results.
The Company has previously announced that its capital resources, including a
bridge loan facility, were expected to fund operations until mid Q3 2026. Based
on the Board's review and subject to the timing and outcome of the ongoing
strategic initiatives, the Company currently expects that additional financing
will be required during July 2026 to maintain operations as a going concern. The
Company has therefore initiated discussions with certain major creditors and
other stakeholders regarding potential financing solutions.
The Board of Directors and management continue to evaluate all strategic,
operational and financial alternatives available to the Company, including
potential changes to the Company's legal and corporate structure, with the
objective of creating a stronger platform for future value creation.
The Company remains committed to keeping the market informed and will provide
further updates as material developments occur.
The information in this stock exchange announcement is considered to be inside
information pursuant to the EU Market Abuse Regulation and is published in
accordance with section 5-12 the Norwegian Securities Trading Act. This stock
exchange announcement was published by Lars Bakklund, Interim CFO at the time
and date stated herein.
NEXT Investor Contacts
Ulf Ritsvall
Chief Executive Officer
ulf.ritsvall@nextbiometrics.com
Lars Bakklund
Interim Chief Financial Officer
lars.bakklund@nextbiometrics.com
cs.com\
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Lars Bakklund\
Interim Chief Financial Officer\
lars.bakklund@nextbiometrics.com\