The increased demand for biometrics led to an increase in revenues for Clear and BIO-key, while Telos ID contributed to the growth of its parent company and Nxt-ID saw a slight decline in profits. Trust Stamp, meanwhile, is gearing up to serve the potential metaverse crypto-asset market with a new affiliate.
Net income up 20%
Clear’s biometric services revenue rose 20% in the third quarter of 2021 to $ 67.6 million, as the company’s cumulative total enrollment count jumped 58% to 8.1 million.
The company also reported positive results in terms of total bookings, net member retention and cumulative uses of the platform. The net loss was $ 32.8 million, or $ 0.23 per basic and diluted share, although the company paid non-cash stock-based compensation that was more than $ 14 million of the total.
“Clear’s business continued to accelerate in the third quarter as new listings more than doubled sequentially,” said Caryn Seidman-Becker, CEO of Clear. âOur platform continued to gain traction thanks to a strong recovery in travel, new partners launched during the quarter and continued demand for our secure digital identity and health solutions as the economy reopens. . We are proud that the Clear platform is emerging as a reliable and market-leading solution for the management of vaccination and test credentials. “
The company expects fourth quarter revenue of $ 77.5 million to $ 78.5 million.
The organic key up by 38%
BIO-key reports that revenues from its âidentity-linked biometricsâ and identity and access management (IAM) technologies increased 38% to $ 1.3 million in the third quarter.
The company’s net loss was significantly lower, at $ 1 million in total and $ 0.13 per share, compared to $ 3.3 million or $ 0.51 per share in the third quarter of 2020.
BIO-key CEO Michael DePasquale said the company is meeting growing demand for its PortalGuard identity and access control solution and has expanded the range of its Channel Alliance partner program.
It also touted the recent version of the MobilePOS Pro biometric solution and its FIDO2 MFA hardware keys with fingerprint biometrics as the setup for future returns.
The gains followed BIO-key’s impressive second quarter results.
Nxt-ID revenues down 10%, Telos ID increases group revenues
Nxt-ID reported $ 2.4 million in revenue for its connected care services, down 10% year-over-year.
The net loss was $ 0.7 million, or $ 0.12 per share for the third quarter of 2021, and $ 7.7 million, or $ 1.43 per share, for the first nine months of l ‘year.
CEO Chia-Lin Simmons, who took office in June, noted the company’s recent filing of a pair of provisional patents related to fall detection among technologies it plans to bring to market in the future.
Telos announces a 48% increase in revenues to $ 70.1 million, thanks to Telos ID and two other subsidiaries.
Telos’ GAAP net loss in the third quarter was $ 5.4 million, or $ 0.08 per diluted share.
Trust Stamp enters the metaverse as a metapresence
Trust Stamp established a subsidiary to sell its secure cryptographic key vault solution in the Metaverse, and nicknamed it Metapresence Limited.
The Metapresence cryptographic key vault will take advantage of Trust Stamp’s facial biometric authentication technology to enroll users and secure access to the vault. Biometrics are combined with other data for cryptographic conversion into corporate IT2 tokens.
The subsidiary is seeking to register or obtain a license in several jurisdictions, starting with the Isle of Man, where the financial regulator has issued advice on the applicability of financial regulation to cryptoassets and tokens using distributed ledger technology, according to the announcement.
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