IDEX Biometrics ASA (Euronext Oslo Børs: IDEX), the Norwegian developer of fingerprint biometric cards for access control, digital identity and payment, reported record revenue of NOK 6.6 million for the third quarter of 2026, four times the NOK 1.6 million recorded in Q2 2026. The company received five IDEX Access purchase orders since its second-quarter report, including its largest to date — worth more than USD 450,000 — from a single channel partner for card deployments across Europe and APAC. IDEX also announced the closure of its Farnborough development site, consolidating operations in Oslo and cutting annual operating costs by approximately NOK 20 million from November 2026. Investors will be watching whether Q4 revenue surpasses the guided NOK 14 million threshold and whether cash flow turns positive for the first time.

Key Points

  • IDEX Biometrics ASA (0MTP / OSE: IDEX) is a Norwegian fingerprint biometric card developer listed on Euronext Oslo Børs
  • Q3 2026 revenue reached a record NOK 6.6 million, four times the prior quarter, with order backlog at NOK 17.9 million at quarter end
  • Q4 2026 revenue is guided to exceed NOK 14 million; operating costs to fall by approximately NOK 5 million per quarter from November 2026
  • Investors should monitor partner activation rates, Q4 delivery execution, and the commercial launch of IDEX Pay with its first Indian bank customer

IDEX Access Orders Accelerate as Largest Channel Partner Deal Exceeds USD 450,000

Five IDEX Access purchase orders have been received since the Q2 2026 report, arriving from both end-use customers who have tested the solution and channel partners purchasing directly. The largest, valued at more than USD 450,000, covers complete IDEX Access cards destined for end use in the energy and retail sectors across Europe and APAC, with deliveries scheduled to begin in Q4 2026. The announcement states that new orders for Q3 2026 totalled NOK 5.3 million, compared with NOK 1.9 million in Q2. IDEX also removed a legacy sensor framework order of approximately NOK 3.8 million from the backlog during the quarter.

Farnborough Site Closure Cuts IDEX's Annual Cost Base by Approximately NOK 20 Million from November 2026

IDEX has closed its UK development site in Farnborough, consolidating all engineering and technology functions in Oslo. The company states that net annual operating costs will fall by approximately NOK 20 million from November 2026, representing around 23% of the annualised Q3 cost base. Operating costs are expected to be approximately NOK 5 million lower per quarter from that point, with Q1 2027 being the first full quarter to reflect the complete savings. The announcement notes IDEX estimates its break-even volume at approximately 250,000 cards per year, excluding annual service revenue from its IDEX Care offering, against an annual operating cost base of NOK 60–80 million.

Channel Partner Network Expansion and IDEX Pay India Launch Shape the Q4 2026 Outlook

Of 34 signed channel partners, seven are currently selling IDEX products, while a further 18 are in an enablement phase covering sales training and go-to-market planning. The company expects activity levels and orders to grow as the remaining partners activate, without a corresponding increase in its cost base. Additionally, the commercial launch of IDEX Pay with the company's first Indian bank customer is expected in Q4 2026. The company stated that cash flow could turn positive in Q4, though this outcome principally requires the existing backlog to be delivered on schedule alongside more than NOK 4 million in additional orders received for Q4 delivery.