olivLaw · European equity research
Precise Biometrics AB PREC.ST
Sweden · Nasdaq Stockholm · ISIN SE0018013849 · Vertical: Listed companies from Sweden
Precise Biometrics AB develops biometric software for physical access, visitor management and digital identity, delivered largely as SaaS. The company saw negative growth in 2025, mainly because smartphone production orders were delayed, but kept positive EBITDA and is accelerating its shift to recurring revenue.
At the close of 05 Nov 2026, Precise Biometrics AB (PREC.ST) stock was 0.54 SEK (−2.52% on the day), with market capitalisation 41.5 m SEK, beta 0.69, 52-week range 0.46–3.00 SEK.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 53.0
- neutral
- Bollinger (20, 2)
- 0.43 – 0.57
- in the upper half of the band · %B 0.79 · band width 28.6%
- SMA 50 / 200
- 0.55 / 1.41
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.00 / -0.02
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | +5.9% | −0.6% | +6.5 pp | — |
| 3 months | −37.7% | −4.2% | −33.5 pp | — |
| 6 months | −71.0% | +4.3% | −75.4 pp | — |
| Year to date | −76.5% | +7.5% | −84.0 pp | — |
| 1 year | −80.4% | +9.9% | −90.3 pp | −8.5% |
| 3 years | −46.9% | +49.8% | −96.7 pp | +12.3% |
| 5 years | −94.1% | +42.8% | −136.9 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 75.1 m | 86.9 m | 77.8 m |
| Revenue YoY | unavailable | +15.7% | −10.4% |
| Net income | -26.4 m | -8.4 m | -19.9 m |
| Net income YoY | unavailable | unavailable | unavailable |
| Diluted EPS | -0.34 | -0.11 | -0.26 |
| Diluted EPS YoY | unavailable | unavailable | unavailable |
| net % | -35.2% | -9.7% | -25.6% |
| Free cash flow | -12.0 m | 9.7 m | 658.0 k |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 18.4 m SEK
- Financial debt
- unavailable SEK
- Net debt
- unavailable SEK
- Equity
- 131.0 m SEK
- Total assets
- 174.1 m SEK
- Debt / equity
- unavailable
- Current ratio
- 1.37x
- ROE
- -14.1%
- ROA
- -10.6%
- FCF margin
- 0.8%
Financial statements (source on every figure)
Revenue and net income (SEK)
Margins
Income statement · SEK
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 75.1 m | 86.9 m | 77.8 m | esef· 26 Oct 2026verified |
| Cost of revenue | 27.2 m | 23.8 m | 21.1 m | esef· 26 Oct 2026verified |
| Gross profit | 47.8 m | 63.1 m | 56.7 m | esef· 26 Oct 2026verified |
| Research & development | 32.1 m | 27.0 m | 27.2 m | esef· 26 Oct 2026verified |
| Operating income | -26.5 m | -9.4 m | -20.1 m | esef· 26 Oct 2026verified |
| Interest expense | 1.1 m | 561.0 k | 997.0 k | esef· 26 Oct 2026verified |
| Pre-tax income | -26.7 m | -8.8 m | -20.3 m | esef· 26 Oct 2026verified |
| Income tax | -346.0 k | -351.0 k | -347.0 k | esef· 26 Oct 2026verified |
| Net income | -26.4 m | -8.4 m | -19.9 m | esef· 26 Oct 2026verified |
| Diluted EPS | -0.34 | -0.11 | -0.26 | esef· 26 Oct 2026verified |
Balance sheet · SEK
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 47.5 m | 37.7 m | 18.4 m | esef· 26 Oct 2026verified |
| Inventories | 359.0 k | 242.0 k | 277.0 k | esef· 26 Oct 2026verified |
| Current assets | 73.5 m | 67.7 m | 42.5 m | esef· 26 Oct 2026verified |
| Property, plant & equipment, net | 2.4 m | 1.6 m | 1.6 m | esef· 26 Oct 2026verified |
| Total assets | 212.7 m | 203.1 m | 174.1 m | esef· 26 Oct 2026verified |
| Current liabilities | 35.9 m | 35.6 m | 31.0 m | esef· 26 Oct 2026verified |
| Equity | 159.3 m | 151.2 m | 131.0 m | esef· 26 Oct 2026verified |
| Shares outstanding at year end | 77.7 m | 76.7 m | 76.6 m | esef· 26 Oct 2026derived |
Cash flow · SEK
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | -10.8 m | 10.1 m | 1.9 m | esef· 26 Oct 2026verified |
| Capex | 1.2 m | 370.0 k | 1.3 m | esef· 26 Oct 2026verified |
| Free cash flow | -12.0 m ≈ | 9.7 m ≈ | 658.0 k ≈ | esef· 26 Oct 2026derived |
| Investing cash flow | -25.3 m | -17.5 m | -18.9 m | esef· 26 Oct 2026verified |
| Financing cash flow | 37.3 m | -2.5 m | -1.9 m | esef· 26 Oct 2026verified |
| Share repurchases | 0 | 3.0 k | — | esef· 08 May 2025verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 5 of at least 6
- score weight coverage: 31.2% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 41.5 m SEK
Key indicators
Coverage and freshness
Score by group
31% · Insufficient data
Estimated value range
unavailable — no valuation assumptions for the reporting currency
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
Assumptions (illustrative, editorial)
- Risk-free rate
- 6.5%
- Equity risk premium
- 6.0%
- Beta (default)
- 1.00
- Cost of equity
- 12.5%
- Terminal growth
- 3.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 5 of at least 6; score weight coverage: 31.2% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -25.6% | 8 (vs peers) | 20% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -20.1x | 0 (on a fixed band) | 20% |
| Current ratio · Balance sheet | 1.4x | 48 (on a fixed band) | 13% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 1.6% | 20 (on a fixed band) | 27% |
| Shareholder yield (distributions) · Returns | 0.0% | 0 (on a fixed band) | 20% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet19/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partial8/100 · 1/3 factors with a value
- Returns· partial0/100 · 1/2 factors with a value
- Valuation· partial20/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Precise Biometrics AB (PREC.ST). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 77.8 m SEK in 2025; YoY growth -10.4%; net margin -25.6%; ROE -14.1%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 5 of at least 6; score weight coverage: 31.2% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- Net margin: -25.6%
- Interest coverage: -20.1x
- FCF yield: 1.6%
- Shareholder yield (distributions): 0.0%
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, Payout ratio (FCF).
Versus the vertical median
Listed companies from Sweden · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| ALFA.STAlfa Laval AB | 223.0 bn | 27.0 | 19.4% | 11.9% | +4.1% | +21% / +38% |
| BOL.STBoliden Ab | 143.0 bn | 15.2 | 13.3% | 10.1% | +4.8% | +12% / +81% |
| CAST.STCastellum Aktiebolag | 66.6 bn | 71.0 | 1.2% | 9.8% | −2.6% | +27% / +6% |
| AAK.STAak Ab (publ) | 47.5 bn | 13.9 | 17.2% | 7.5% | +2.2% | −31% / −14% |
| CAMX.STCamurus AB | 42.5 bn | 58.5 | 19.5% | 32.5% | +21.3% | +16% / +55% |
| BRAV.STBravida Holding AB | 30.1 bn | 24.5 | 13.7% | 4.4% | −4.9% | +84% / +123% |
| ASKER.STAsker Healthcare Group AB | 29.8 bn | 60.5 | 9.8% | 2.9% | +11.7% | −18% / unavailable |
| ALLEI.STAlleima AB | 22.7 bn | 33.8 | 4.1% | 3.6% | −5.4% | +11% / +19% |
| BURE.STBure Equity AB | 22.6 bn | — | -21.0% | — | unavailable | +20% / +19% |
| AQ.STAQ Group AB | 19.7 bn | 29.2 | 14.9% | 7.5% | +6.0% | +14% / +119% |
| ALTRA.STAltra Fastigheter AB | 18.4 bn | 33.9 | 3.0% | 15.1% | −2.2% | +9% / +19% |
| ATT.STAttendo AB (publ) | 16.8 bn | 20.7 | 15.1% | 4.3% | +0.1% | +34% / +223% |
| AFRY.STAfry Ab | 14.9 bn | 18.7 | 6.2% | 3.1% | −5.2% | −17% / +4% |
| ATRLJ-B.STAtrium Ljungberg AB | 14.0 bn | 17.1 | 2.9% | 23.9% | −2.0% | −33% / −44% |
| ALIG.STAlimak Group AB (publ) | 12.7 bn | 21.3 | 8.2% | 8.8% | −3.2% | −18% / +50% |
| ACAD.STAcadeMedia AB | 12.7 bn | 15.5 | 12.7% | 4.3% | +9.7% | +22% / +138% |
| APOTEA.STApotea AB (publ) | 10.7 bn | 46.8 | 31.3% | 3.2% | +10.1% | +15% / unavailable |
| BOOZT.STBoozt AB | 10.6 bn | 37.9 | 10.4% | 3.6% | +0.5% | +58% / +44% |
| BUFAB.STBufab AB (publ) | 5.0 bn | 9.2 | 15.1% | 6.9% | −7.4% | +36% / +110% |
| ACTI.STActive Biotech AB (publ) | 4.9 bn | — | -84.5% | — | unavailable | −32% / −77% |
| CEVI.STCellaVision AB | 4.7 bn | 30.8 | 18.0% | 20.2% | +4.9% | +20% / +12% |
| COOR.STCoor Service Management Holding AB | 4.7 bn | 18.2 | 13.0% | 2.2% | +16.7% | +1% / +25% |
| BHG.STBHG Group AB | 4.5 bn | 31.1 | 2.5% | 1.4% | +6.2% | −18% / +113% |
| CARA.STCarasent AB (publ) | 1.8 bn | 51.7 | 4.1% | 10.1% | +24.9% | −8% / +87% |
| BICO.STBICO Group AB | 1.7 bn | — | -46.0% | -72.7% | −13.3% | +16% / −51% |
1- and 3-year price returns: for PREC.ST from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (SEK)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Precise Biometrics AB develops biometric software for physical access, visitor management and digital identity, delivered largely as SaaS. The company saw negative growth in 2025, mainly because smartphone production orders were delayed, but kept positive EBITDA and is accelerating its shift to recurring revenue 1.
SWOT
Strengths
- Biometric technology recognised in the premium segment, with ultrasound and anti-spoof, where the company holds a strong position 1.
- A 100 percent software model independent of hardware, which lowers business risk and allows fast adaptation 1.
- Positive EBITDA maintained in 2025 despite lower revenue, supporting the core business 1.
Weaknesses
Opportunities
Risks
- Concentration on mobile customershigh
Revenue depends largely on a few large mobile customers, and a postponed production run can significantly affect quarterly results 1.
- Limited revenue predictabilityhigh
Long sales cycles and the nature of royalties make revenue hard to forecast, and the company acknowledges considerable uncertainty 1.
- Churn during cloud migrationmedium
Older on-premise customers who do not migrate may reduce ARR, and the company says the effect is temporary, without guaranteeing how it will evolve 1.
- Currency exposurelow
Dollar-denominated revenue and assets affect results through exchange rates, according to the sensitivity analysis in the report 1.
- Goodwill impairment testingmedium
Goodwill tied to EastCoast depends on five-year forecasts and discount rate assumptions, and changes in these could lead to impairment 1.
Investment thesis
What would need to be true (bull case)
- If smartphone production normalises in 2026, deferred volumes could return and support royalty revenue 1.
- Growth in ARR from Precise Visit and Precise Access could reduce dependence on mobile and smooth results 1.
- Demand for biometrics in national ID programmes and anti-spoof could open large contracts 1.
What would break the thesis
What to watch
- Development of royalty revenue after a large customer moved production into the first half of the yearQ1 2026
- Evolution of ARR and the number of cloud customers for Precise Visit2026
- Contracts in national digital ID programmes announced by the company2026
- Effect of tariffs and macro uncertainty on mobile ordersnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Precise offers biometric security and access solutions that let users authenticate with finger, face or palm instead of PIN codes or cards. The portfolio includes Precise Access, Precise Visit by EastCoast and the BioMatch, BioLive, BioEnhance and Biometric Services suite 1. The company describes itself as 100 percent software and SaaS, independent of hardware, which gives it flexibility and lower business risk than hardware makers 1. Shares are listed on Nasdaq Stockholm 1.
The company has moved from a technology-driven focus, almost exclusively on the mobile phone market, to a sales- and SaaS-oriented organisation, following a commercialisation strategy adopted in 2023 1. The model aims for growing recurring subscription revenue (ARR), with a larger share of sales expected to come from this type of income 1. The strategy also includes evaluating acquisitions that complement products and accelerate growth, financed from liquid assets or new shares 1.
Precise has stated that it aims to grow with positive cash flow, meaning disciplined growth rather than growth at any cost 1. The company remains dependent on mobile customers, and royalty income depends on customers' usage, which makes short-term results hard to predict 1.
Segments
Biometric Technologies
This segment licenses biometric algorithms to smartphone makers and sensor suppliers, with revenue largely in the form of royalties 1. Mobile remains the largest segment, but the company says margins are better in premium areas such as ultrasound and anti-spoof, where it is strongest 1. In 2025 a large customer moved production into the first half of 2026, weighing on royalty revenue in the short term, and management believes volumes are deferred rather than lost 1.
Digital Identity
This segment sells access and visitor management solutions, notably Precise Visit, which is moving from on-premise systems to the cloud 1. The migration brought churn from older on-premise customers but strongly increased the number of cloud customers and supports further upselling 1. The company is expanding into new markets such as the USA and parts of Europe through resellers and integrations with workplace management systems 1.
Market context
The smartphone market, the main source of revenue for the biometrics business, grew by 1-2 percent in 2025 according to IDC, more slowly than in 2024 1. Volumes were affected by macroeconomic uncertainty, tariff concerns and postponed production 1. Management considers the market for access and digital identity solutions to have strong long-term growth, but with long decision cycles 1.
Demand for biometric security is supported by national ID programmes, rising security requirements and the threat of deepfakes and presentation attacks 1. Management estimates the premium mobile market remains favourable in 2026, with Precise among few suppliers, but forecasts remain sensitive to the geopolitical environment and customer decisions 1.
Trends
- Shift to SaaS and recurring revenuemixed
The company is shifting focus to subscriptions, which could smooth revenue and reduce dependence on mobile royalties, but the transition may temporarily lower ARR because of churn from older customers 1.
- Biometric security and anti-spoofingtailwind
Rising deepfakes and spoofing attacks support demand for liveness and anti-spoof solutions, where Precise has a strong technical position 1.
- Delayed smartphone productionheadwind
Postponed production at a large customer and tariff uncertainty have delayed mobile orders, with negative short-term effect on revenue 1.
- National identity programmestailwind
Government digital ID projects increase interest in secure biometric verification, and the company reports commercial dialogues and signed contracts in this area 1.
Competitive position
Precise operates in a field where sensor makers and chipmakers can develop their own algorithms, creating pricing pressure, especially in the volume segment 1. The company says it is one of few suppliers in the premium segment and bases its position on technology and independence from hardware 1.
In access and visitor management, competition comes from larger security system providers that integrate biometric features, and the company aims to win share through partners and integrations rather than its own hardware 1. The supplied sources do not name competitors in this area, so the list below is limited.
- Infineon Technologies
Customer and partner in sensors that uses Precise algorithms alongside its own sensors, indicating a partnership that could also become technological competition 1.
- QualcommQCOM
Mobile platform customer that uses Precise solutions, showing a commercial relationship and a player that could develop its own capabilities 1.
- Egis Technology
Partner and customer in biometric sensors, with which Precise collaborates on algorithms integrated with hardware 1.
- Avigilon (Motorola Solutions)
Partner in physical security, with which the company is preparing joint market and business activities for 2026 1.
News & filings
In the press
- Hierarchical Engineering of Atomically Precise Gold Nanoclusters from Alloying to Cluster-Assembled FrameworksJournal of the American Chemical Society · 04 Nov 2026 · EN
- Machine Learning-Guided Precise Electrolyte Engineering Enables Stable Lithium Metal Pouch Cells Exceeding 350 Wh/kg at −40 °CJournal of the American Chemical Society · 30 Oct 2026 · EN
- Cum conectezi aplicațiile de fitness cu ceasul inteligent pentru statistici mai preciseProfit.ro · 27 Oct 2026 · RO
- New animal model offers more precise way to study calorie-burning brown fatMedical Xpress · 25 Oct 2026 · EN
- Light-based method enables precise control of ultrafast electron flow in a scanning tunneling microscopePhys.org · 23 Oct 2026 · EN
- Symmetry Breaking Drives Twisted Prismatic Evolution in Atomically Precise Copper NanoclustersJACS Au · 22 Oct 2026 · EN
- Crown Ether-Functionalized Covalent Organic Framework Membranes for Precise Monovalent Cation SeparationACS Nano · 20 Oct 2026 · EN
- Aplicații pentru numărat calorii: cât de precise sunt și ce greșeli te împiedică să slăbeștiProfit.ro · 19 Oct 2026 · RO
- Beyond Static Architectures: Responsive Tetrahedral Framework Nucleic Acids for Precise TheranosticsACS Nano · 16 Oct 2026 · EN
- Embryo gene editing is getting more precise, but how safe and ethical is the practice? | Euronews Tech TalksEuronews Next · 15 Oct 2026 · EN
- Mixed beam measurement method could help make ion cancer therapy more preciseMedical Xpress · 14 Oct 2026 · EN
- Reversible genetic switches could give cancer immunotherapy more precise controlMedical Xpress · 14 Oct 2026 · EN
- VIDEO | ANAF vrea mai puține controale la contribuabilii onești și mai multe în zone de risc. Nica: Am început discuții cu mediul de afaceri pentru a avea analize mai precise pe fiecare industrieEconomedia · 07 Oct 2026 · RO
- Erlotinib Engineering Programs Tumor Targeting in an Atomically Precise Au8 ClusterACS Nano · 06 Oct 2026 · EN
- Bogdan Bălaşa, HILS Development: Piaţa rezidenţială s-a dovedit rezilientă. Familiile tinere vin la târg cu întrebări precise, iar septembrie a adus din nou creştere la contracteZiarul Financiar · 05 Oct 2026 · RO
- Atomically Precise Metal Nanoclusters: Advancing Electrocatalytic Nitrate-to-Ammonia ConversionJACS Au · 02 Oct 2026 · EN
- Ultra-precise coatings help power the next generation of gravitational wave detectorsPhys.org · 01 Oct 2026 · EN
- Melanin-Inspired Nanoparticle Tattoo Inks for Precise Marking and Surveillance of Gastrointestinal LesionsACS Nano · 30 Sept 2026 · EN
- Scientists unveil the most detailed and precise map of the mouse motor cortex to dateMedical Xpress · 23 Sept 2026 · EN
- Atomically Precise Synthesis of Carbon-Based Quantum Magnets on Inert SurfacesACS Nano · 23 Sept 2026 · EN
Annual reports (ESEF)
- Annual report 202526 Oct 2026
- Annual report 202408 May 2025
Sources
- [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / Precise Biometrics AB · 31 Dec 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.