Idex Biometrics ASA has released its first quarter 2025 financial results, reporting revenues of $0.1 million during the quarter. The company experienced a net loss of $4.1 million. Ordinary operating expenses were registered at $2.4 million, and the cash balance as of 31 March 2025 was $1.1 million. Significant business updates include the announcement of a new strategy on 11 March 2025, aimed at transforming the market approach for its technology and products. Anders Storbråten has been appointed as the new CEO. The company has secured a new debt facility of NOK 30 million, which has been converted to shares, and successfully renegotiated its convertible bond with Heights. Operational improvements are underway, targeting a quarterly run rate for operating expenses between $1.5 million and $1.7 million by the end of Q3 2025. Additionally, Idex Biometrics received a production order in Japan from its manufacturing partner Beautiful Card Corporation, valued at approximately USD 50,000, and an order from DigAware for delivering biometric sensor solutions for access cards. The company also received an order for IDEX Pay biometric cards for VISA in the Middle East & Africa region, totaling 10,000 units. KONA I was granted a Mastercard Letter of Approval for IDEX Pay biometric cards. A subsequent offering was launched, allowing investors to participate under the same terms as shareholders involved in the debt conversion.