Precise Biometrics: Q4e: Likely similar to Q3 - ABG
2022e sales cut by 4%
Q4 global smartphone shipments -17% y-o-y
Announced commercial activities in Q4 strengthen LT outlook
Q4'22 estimates
Q4'22 is likely to be similar to Q3'22 mostly with respect to Algo royalties, as global smartphone retailers continue to be overstocked. The announced licence agreement with Isorg is expected to contribute a fixed fee of SEK 0.6m in sales in Q4'22 (corresponding to 3% sales contribution). On balance, we cut Q4'22e sales by 13% on the back of a continued global decline in smartphone shipments. On the other hand, we reduce opex by some SEK 2m (from ~SEK 22m to ~SEK 20m) as certain opex optimisation measures have been announced.
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