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"decimals": -3, "dimensions": { "concept": "ifrs-full:Equity", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00", "unit": "iso4217:NOK" } }, "f1__s7__6__13": { "value": "NEXT Biometrics Group ASA", "dimensions": { "concept": "ifrs-full:NameOfUltimateParentOfGroup", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__12": { "value": "NEXT Biometrics Group ASA", "dimensions": { "concept": "ifrs-full:NameOfParentEntity", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__5": { "value": "NEXT Biometrics Group ASA", "dimensions": { "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__8": { "value": "public limited liability company", "dimensions": { "concept": "ifrs-full:LegalFormOfEntity", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__9": { "value": "Norway", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__6": { "value": "Norway", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__10": { "value": "Stortorvet 7, 0155 Oslo", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__7": { "value": "The Parent company and its subsidiaries (\u201cNEXT\u201d or \u201cthe Group\u201d) provides advanced fingerprint sensor technology that delivers uncompromised security and accuracy for the best possible user experience in the smart card, government ID, access control and notebook markets.", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__20": { "value": "The Group has six wholly owned subsidiaries: NEXT Biometrics AS (Norway) and its subsidiaries NEXT Biometrics Inc. (Seattle, USA), NEXT Biometrics Taiwan Ltd. (Taipei, Taiwan), NEXT Biometrics Solutions India Pvt. Ltd. (Bengaluru, India), and NEXT Biometrics AB (Malmo, Sweden). In addition, the group has control over and a 50% shareholding in NEXT Biometrics China Ltd. (Shanghai, China). All seven subsidiaries in the Group are consolidated into Group accounts.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__19": { "value": "The Group has six wholly owned subsidiaries: NEXT Biometrics AS (Norway) and its subsidiaries NEXT Biometrics Inc. (Seattle, USA), NEXT Biometrics Taiwan Ltd. (Taipei, Taiwan), NEXT Biometrics Solutions India Pvt. Ltd. (Bengaluru, India), and NEXT Biometrics AB (Malmo, Sweden). In addition, the group has control over and a 50% shareholding in NEXT Biometrics China Ltd. (Shanghai, China). All seven subsidiaries in the Group are consolidated into Group accounts.", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__18": { "value": "The Group has six wholly owned subsidiaries: NEXT Biometrics AS (Norway) and its subsidiaries NEXT Biometrics Inc. (Seattle, USA), NEXT Biometrics Taiwan Ltd. (Taipei, Taiwan), NEXT Biometrics Solutions India Pvt. Ltd. (Bengaluru, India), and NEXT Biometrics AB (Malmo, Sweden). In addition, the group has control over and a 50% shareholding in NEXT Biometrics China Ltd. (Shanghai, China). All seven subsidiaries in the Group are consolidated into Group accounts.", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__11": { "value": "The Group has six wholly owned subsidiaries: NEXT Biometrics AS (Norway) and its subsidiaries NEXT Biometrics Inc. (Seattle, USA), NEXT Biometrics Taiwan Ltd. (Taipei, Taiwan), NEXT Biometrics Solutions India Pvt. Ltd. (Bengaluru, India), and NEXT Biometrics AB (Malmo, Sweden). In addition, the group has control over and a 50% shareholding in NEXT Biometrics China Ltd. (Shanghai, China). All seven subsidiaries in the Group are consolidated into Group accounts.", "dimensions": { "concept": "ifrs-full:PrincipalPlaceOfBusiness", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__15": { "value": "Changes in accounting policiesThe accounting policies applied in preparation of the financial statements for the year ended 31 December 2025 are consistent with those applied in the preparation of the prior year financial statements. New and amended standards and", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__17": { "value": "NOTE 1General informationNEXT Biometrics Group ASA (\u201cParent company\u201d) is a public limited liability company, incorporated and domiciled in Norway, with headquarter in Stortorvet 7, 0155 Oslo, Norway. The Parent company and its subsidiaries (\u201cNEXT\u201d or \u201cthe Group\u201d) provides advanced fingerprint sensor technology that delivers uncompromised security and accuracy for the best possible user experience in the smart card, government ID, access control and notebook markets.The Group has six wholly owned subsidiaries: NEXT Biometrics AS (Norway) and its subsidiaries NEXT Biometrics Inc. (Seattle, USA), NEXT Biometrics Taiwan Ltd. (Taipei, Taiwan), NEXT Biometrics Solutions India Pvt. Ltd. (Bengaluru, India), and NEXT Biometrics AB (Malmo, Sweden). In addition, the group has control over and a 50% shareholding in NEXT Biometrics China Ltd. (Shanghai, China). All seven subsidiaries in the Group are consolidated into Group accounts. NEXT Biometrics China Ltd. (Shanghai, China) is a company that is controlled by the Group and that NEXT Biometrics AS owns 50% of the share capital as per 31/12/2025 following a transaction where the Group sold 50% of the shares in NEXT Biometrics China Ltd. (NEXT China) in 2024 for zero cost. The Group has an obligation to repurchase 50% as a part of an agreement with an external party. Hence, the Group controls the subsidiary and will acquire the remaining shares in the entity at zero cost. Moreover, the Group has majority of votes in the board and general meetings of NEXT China. Hence, there is no minority interest in relation to NEXT China. Still, the Group and the external party is in disagreement and is currently in multiple legal conflicts. Consequently, the subsidiary is fully consolidated, and no minority interest is recorded in the balance sheet of the Group. NEXT ASA\u2019s shares are listed on the Oslo Stock Exchange.The purpose of the company as stated in the articles of association is to conduct research, development and commercialization of security products, as well as other activities that will naturally fall under this.The financial statements have been approved for issuance by the Board of Directors on 27 April 2026 and are subject to approval by the Annual General Meeting on 19 May 2026. Changes in accounting policiesThe accounting policies applied in preparation of the financial statements for the year ended 31 December 2025 are consistent with those applied in the preparation of the prior year financial statements. New and amended standards and interpretations adopted by the Group as of 1 January 2025 The new amendments to IAS 1 concerning new disclosure requirements relating to liabilities with covenants and convertible debt is not applicable for the group.There are no new amendments applicable for the annual reporting period commencing 1 January 2025 that have been adopted by NEXT Biometrics Group. New and amended standards and interpretations not yet adoptedIFRS 18 Presentation and Disclosure in Financial Statements is effective for periods beginning on or after 1 January 2027.IFRS 18 will replace IAS 1 Presentation of Financial Statements and introduce new requirements to help achieve comparability across companies. Although IFRS 18 will not affect the recognition or measurement of items in the financial statements, changes are expected to be made to the Group\u2019s presentation of the Consolidated statement of comprehensive income.Management is currently assessing the detailed implications of applying the new standard to the Group\u2019s consolidated financial statements.", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__16-1": { "value": "NOTE 1General informationNEXT Biometrics Group ASA (\u201cParent company\u201d) is a public limited liability company, incorporated and domiciled in Norway, with headquarter in Stortorvet 7, 0155 Oslo, Norway. The Parent company and its subsidiaries (\u201cNEXT\u201d or \u201cthe Group\u201d) provides advanced fingerprint sensor technology that delivers uncompromised security and accuracy for the best possible user experience in the smart card, government ID, access control and notebook markets.The Group has six wholly owned subsidiaries: NEXT Biometrics AS (Norway) and its subsidiaries NEXT Biometrics Inc. (Seattle, USA), NEXT Biometrics Taiwan Ltd. (Taipei, Taiwan), NEXT Biometrics Solutions India Pvt. Ltd. (Bengaluru, India), and NEXT Biometrics AB (Malmo, Sweden). In addition, the group has control over and a 50% shareholding in NEXT Biometrics China Ltd. (Shanghai, China). All seven subsidiaries in the Group are consolidated into Group accounts. NEXT Biometrics China Ltd. (Shanghai, China) is a company that is controlled by the Group and that NEXT Biometrics AS owns 50% of the share capital as per 31/12/2025 following a transaction where the Group sold 50% of the shares in NEXT Biometrics China Ltd. (NEXT China) in 2024 for zero cost. The Group has an obligation to repurchase 50% as a part of an agreement with an external party. Hence, the Group controls the subsidiary and will acquire the remaining shares in the entity at zero cost. Moreover, the Group has majority of votes in the board and general meetings of NEXT China. Hence, there is no minority interest in relation to NEXT China. Still, the Group and the external party is in disagreement and is currently in multiple legal conflicts. Consequently, the subsidiary is fully consolidated, and no minority interest is recorded in the balance sheet of the Group. NEXT ASA\u2019s shares are listed on the Oslo Stock Exchange.The purpose of the company as stated in the articles of association is to conduct research, development and commercialization of security products, as well as other activities that will naturally fall under this.The financial statements have been approved for issuance by the Board of Directors on 27 April 2026 and are subject to approval by the Annual General Meeting on 19 May 2026. Changes in accounting policiesThe accounting policies applied in preparation of the financial statements for the year ended 31 December 2025 are consistent with those applied in the preparation of the prior year financial statements. New and amended standards and interpretations adopted by the Group as of 1 January 2025 The new amendments to IAS 1 concerning new disclosure requirements relating to liabilities with covenants and convertible debt is not applicable for the group.There are no new amendments applicable for the annual reporting period commencing 1 January 2025 that have been adopted by NEXT Biometrics Group. New and amended standards and interpretations not yet adoptedIFRS 18 Presentation and Disclosure in Financial Statements is effective for periods beginning on or after 1 January 2027.IFRS 18 will replace IAS 1 Presentation of Financial Statements and introduce new requirements to help achieve comparability across companies. Although IFRS 18 will not affect the recognition or measurement of items in the financial statements, changes are expected to be made to the Group\u2019s presentation of the Consolidated statement of comprehensive income.Management is currently assessing the detailed implications of applying the new standard to the Group\u2019s consolidated financial statements.NOTE 26 Restatement of 2024 annual accountsThe Group communicated in its reporting for the second quarter and half year 2025 that irregularities had occurred relating to customers/distributors and the subsidiary in China. The Board of Directors initiated an investigation of the irregularities. Due to significant overdue accounts receivable in general, the Board of Directors also requested that these accounts receivable were investigated and that relevant areas of improvement in the company\u2019s enterprise risk management were identified. In addition to investigating the irregularities pertaining to the Chinese business, the key focus of the investigation was to establish the necessary facts to be able to assess any additional need for adjustments in the financial reporting.The implications of the observations and facts established from the investigation, and the subsequent assessments, are significant and substantial to the financial statements for the full year 2024. The facts revealed, and need foradjustments in the financial reporting, have no directly significant liquidity effects. The key implications fall into three different categories of reported sales, each briefly described below.Sales and revenue irregularities relating to the business in China and NEXT Biometrics China (NEXT's Chinese subsidiary)The investigation has substantiated that irregularities have occurred in the Group's subsidiary in China as selected sales transactions appear to lack proper commercialsubstance. The Group's and its sales and marketing partner\u2019s have different views on several topics, and the sales and marketing partner has filed a claim against the Group for unpaid sales and marketing incentive fees. The Group holds the view that certain sales transactions in China are not valid orders and has engaged legal advisors and is managing the dispute as required. Moreover, historical revenues in the amount of approximately NOK 13.2 million has been reversed in 2024 relating to these sales transactions. Also, the Group has not received payments for any of these goods and has requested the products returned. Currently, none of the customers and distributors have returned any products to the Group.Other distributors in China and TaiwanThe investigation into other distributors related to Chinese activities and our subsidiary in China also revealed that the commercial agreements relating to the reported sales to two other Chinese distributors, and one Taiwanese distributor, do not meet the criteria to be recognised as revenue in NEXT\u2019s financial statements. Most of the reported sales was accounted for in 2024 and sums up to approximately NOK 25 million, which has been restated in the 2024 financial statements. Moreover, NOK 3 million in revenues was restated in the 2023 financial statement. A portion of the inventory shipped to the distributors based on sales reported by the subsidiary in China has been inspected. Most of the inventory shipped to distributors in China has been returned to the company and is recognized as inventory. A small portion of the shipped inventory in this category is still with a distributor and recognized as inventory in consignment as per 31 December 2025. Simultaneously, the Group has booked reversals for cost of materials for those transactions where either the goods have been returned or recognised as inventory in consignment.Distributors targeting the market in India and BangladeshEntering both the market in India and Bangladesh has been more challenging than expected, amongst other reasons due to the unstable political situation in Bangladesh and a security breach pertaining to a supplier (without association to NEXT) to the Indian Aadhaar-program causing a major delay to NEXT\u2019s business. NEXT\u2019s distribution agreements, including its standard terms and conditions applicable to the reported sales, appear to be sound and managing relevant aspects of such a commercial agreement.However, in 2025, we have learned that the Indian and Bangladeshi markets are more challenging and that it is de-facto an inherent uncertainty pertaining to payments from the reported sales. Even if it is clearly stated in the Group's commercial agreements, the Group has not received payment from its distributors until the end-customers have paid them.Based on this, the Group has, for accounting purposes, decided to categorize most shipments pertaining to these distributors as consignment arrangements. More specifically, this relates to all shipments to one of the distributors in 2024 and 2025 and one shipment in 2025 to the other distributor. Due to this, restated comparable figures for 2024 have been prepared and presented in this report. The previously reported revenues in 2024 relating to the markets in India and Bangladesh that now are reported as consignment arrangements represent approximately NOK 14 million in revenue reversals.Reversals of cost of materials and recognition of inventory in consignmentIn connection with the revenue restatements, the Group has booked reversals for cost of materials for those transactions where either the goods have been returned or recognised as inventory in consignment. The Group has booked reversal of costs of materials amounting to NOK 15.6 million in 2024 and NOK 1.1 million in 2023. Moreover, NOK 17.7 million inventory in consignment has been recognized as per 31 December 2024.The goods stored in warehouses arranged by the distributors have been inspected as part of the investigation and appear to be in good condition and adequately secured.Operating expense adjustments and reversalsThe Group has also reversed bad debt expenses in conjunction with the reversals of revenue and account receivables, which amount to approximately NOK 7.4 million in 2024. Separately, the Group booked a reversal of sales and marketing incentive fees amounting to approximately NOK 3.7 million as well as additional costs of NOK 3.4 million relating to valuation allowances for prepaid VAT for sales domestically in China in connection with the restatements. The China VAT costs were triggered by the uncertain timeline for recovering the VAT through sales in China denominated in Chinese Yuan.Moreover, the non-recurring expense adjustment includes a reclassification from revenue discounts to other operating expenses amounting to NOK 1.3 million, which was related to a sales and marketing incentives in India.The following tables show the amounts previously reported, the adjustments, and the amounts restated in each line item reported in the NEXT Group financial statements for the year ended December 31 2024:Group | Consolidated statement of comprehensive income 1 January - 31 December 2024(amounts in NOK 1,000) Amounts as previously stated Adjustments full year RestatedRevenues 71,574 -51,894 19,681Cost of materials -32,416 15,635 -16,780Gross profit 39,158 -36,258 2,900Payroll expenses -32,791 -32,791Other operating expenses -47,041 6,395 -40,647Depreciation and amortization -5,394 -5,394Total operating expenses -85,227 6,395 -78,832Operating profit (loss) -46,068 -29,864 -75,932Financial income 1,482 1,482Financial expenses -119 -119Net currency gains (losses) -332 -332Net financial items 1,030 1,030Profit (loss) before taxes -45,038 -29,864 -74,902Income tax expenses -197 -197Profit (loss) after taxes -45,235 -29,864 -75,099Earnings per share (in NOK)Basic and diluted -0.42 -0.70Other comprehensive income (loss) that may be reclassified subsequently to profit and loss:Translation differences on net investments in foreign operations 6,369 -2,089 4,280Other comprehensive income (loss) 6,369 -2,089 4,280Total comprehensive income (loss) -38,866 -31,953 -70,819Profit (loss) after taxes attributable to:Owners of the parent company -45,235 -75,099Total comprehensive income (loss) attributable to:Owners of the parent company -38,866 -70,819Group | Consolidated statement of financial position As of 31 December 2024(amounts in NOK 1,000) Amounts as previously reported Adjustments full year RestatedIntangible assets 825 825Property, plant and equipment 7,094 7,094Total non-current assets 7,919 7,919Inventories 17,672 17,672Inventories in consignment - 17,719 17,719Accounts receivables 56,754 -53,433 3,321Other current assets 7,138 7,138Cash 62,907 62,907Total current assets 144,471 -35,714 108,757Total assets 152,390 -35,714 116,676Share capital 115,155 115,155Share premium 70,268 70,268Other reserves 35,208 35,208Retained earnings -101,775 -34,078 -135,853Total equity 118,857 -34,078 84,779Non-current lease liabilities 2,244 2,244Total non-current liabilities 2,244 2,244Accounts payables 10,910 10,910Income tax payables - -Current lease liabilities 1,843 1,843Other current liabilities 18,537 -1,637 16,900Total current liabilities 31,289 -1,637 29,653Total equity and liabilities 152,390 -35,714 116,676Group | Consolidated statement of cash flow As of 31 December 2024(amounts in NOK 1,000) Amounts as previously reported Adjustments full year RestatedProfit (loss) before taxes -45,038 -29,864 -74,902Share based remuneration 3,243 3,243Share based payments social security expense -1,637 -1,637Depreciation and amortization 5,394 5,394Change in inventories 5,817 -17,719 -11,902Change in accounts receivables -44,452 53,433 8,981Change in accounts payables 4,926 4,926Change in other working capital items and other 8,807 -5,852 2,955Interests received 1,400 1,400Interests paid -141 -141Net cash flow from operating activities -61,681 -2 -61,683Purchase of property, plant and equipment and intangible assets -597 -597Net cash flow from investing activities -597 -597Net proceeds from issue of shares 60,129 60,129Payment of lease liabilities -2,017 -2,017Net cash flow from financing activities 58,111 58,111Net change in cash flow -4,167 -4,167Cash balance as of 1 January 67,753 67,75 3Effects of exchange rate changes on cash -679 -679Cash balance as of 31 December 62,907 62,907Comprising of:Cash 62,907 62,907", "dimensions": { "concept": "ifrs-full:DisclosureOfReclassificationsOrChangesInPresentationExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__14": { "value": "NOTE 1General informationNEXT Biometrics Group ASA (\u201cParent company\u201d) is a public limited liability company, incorporated and domiciled in Norway, with headquarter in Stortorvet 7, 0155 Oslo, Norway. The Parent company and its subsidiaries (\u201cNEXT\u201d or \u201cthe Group\u201d) provides advanced fingerprint sensor technology that delivers uncompromised security and accuracy for the best possible user experience in the smart card, government ID, access control and notebook markets.The Group has six wholly owned subsidiaries: NEXT Biometrics AS (Norway) and its subsidiaries NEXT Biometrics Inc. (Seattle, USA), NEXT Biometrics Taiwan Ltd. (Taipei, Taiwan), NEXT Biometrics Solutions India Pvt. Ltd. (Bengaluru, India), and NEXT Biometrics AB (Malmo, Sweden). In addition, the group has control over and a 50% shareholding in NEXT Biometrics China Ltd. (Shanghai, China). All seven subsidiaries in the Group are consolidated into Group accounts. NEXT Biometrics China Ltd. (Shanghai, China) is a company that is controlled by the Group and that NEXT Biometrics AS owns 50% of the share capital as per 31/12/2025 following a transaction where the Group sold 50% of the shares in NEXT Biometrics China Ltd. (NEXT China) in 2024 for zero cost. The Group has an obligation to repurchase 50% as a part of an agreement with an external party. Hence, the Group controls the subsidiary and will acquire the remaining shares in the entity at zero cost. Moreover, the Group has majority of votes in the board and general meetings of NEXT China. Hence, there is no minority interest in relation to NEXT China. Still, the Group and the external party is in disagreement and is currently in multiple legal conflicts. Consequently, the subsidiary is fully consolidated, and no minority interest is recorded in the balance sheet of the Group. NEXT ASA\u2019s shares are listed on the Oslo Stock Exchange.The purpose of the company as stated in the articles of association is to conduct research, development and commercialization of security products, as well as other activities that will naturally fall under this.The financial statements have been approved for issuance by the Board of Directors on 27 April 2026 and are subject to approval by the Annual General Meeting on 19 May 2026. Changes in accounting policiesThe accounting policies applied in preparation of the financial statements for the year ended 31 December 2025 are consistent with those applied in the preparation of the prior year financial statements. New and amended standards and interpretations adopted by the Group as of 1 January 2025 The new amendments to IAS 1 concerning new disclosure requirements relating to liabilities with covenants and convertible debt is not applicable for the group.There are no new amendments applicable for the annual reporting period commencing 1 January 2025 that have been adopted by NEXT Biometrics Group. New and amended standards and interpretations not yet adoptedIFRS 18 Presentation and Disclosure in Financial Statements is effective for periods beginning on or after 1 January 2027.IFRS 18 will replace IAS 1 Presentation of Financial Statements and introduce new requirements to help achieve comparability across companies. Although IFRS 18 will not affect the recognition or measurement of items in the financial statements, changes are expected to be made to the Group\u2019s presentation of the Consolidated statement of comprehensive income.Management is currently assessing the detailed implications of applying the new standard to the Group\u2019s consolidated financial statements.", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__24": { "value": "Basis of preparationThese financial statements have been prepared in accordance with IFRS\u00ae Accounting Standards as adopted by the EU per 31 December 2025.", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__25-1": { "value": "Going concernThe Board of Directors confirms that the financial statements have been prepared under the assumption of going concern. Please refer to note 25 for further details.NOTE 25 Key assumptions going concernThe Group cash flow forecasts for 2026 and 2027 are the basis for the going concern statement. The revenue forecast is based on a comprehensive review of each underlying customer case resulting in revenues per quarter. Gross margin is expected to stay above 50% in 2026 and 2027. The Group has been implementing cost reductions measures, which will lower operating expenses towards the second half of 2026. Moreover, the Group is targeting to convert inventory into revenue, which will provide positive cash flow from working capital. In addition, the Group\u2019s liquidity position has been and will be strengthened by the NOK 9 million shareholder loan, the recently announced bridge loan and NOK 50 million rights issue, which is expected to provide liquidity runway into the first half of 2027. Please see note 24 for further details on the rights issue.", "dimensions": { "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__27": { "value": "Currency These financial statements are presented in Norwegian kroner, which is also the Parent company\u2019s functional currency. Except for NEXT Biometrics AS, which is based in Norway and that uses USD as its functional currency, each entity within the Group utilizes the local currency of its domicile and operational base as its functional currency.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__26": { "value": "Currency These financial statements are presented in Norwegian kroner, which is also the Parent company\u2019s functional currency. Except for NEXT Biometrics AS, which is based in Norway and that uses USD as its functional currency, each entity within the Group utilizes the local currency of its domicile and operational base as its functional currency.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__28": { "value": "Property, plant and equipmentProperty, plant and equipment are held at cost less accumulated depreciation and impairment losses. When assets are sold or disposed, the gross carrying amount and accumulated depreciations are reversed. Any gain or loss on the sale or disposal is recognized in the profit and loss.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__29": { "value": "InventoryRaw materials, work in progress and finished products are valued at the lower of cost and net realizable value after deduction for obsolescence. Costs are determined using the FIFO and average cost method.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__31": { "value": "Cash flowThe cash flow statement has been drawn up in accordance with the indirect method and reports cash flows during the period classified by operating, investing and financing activities.", "dimensions": { "concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__30": { "value": "Cash flowThe cash flow statement has been drawn up in accordance with the indirect method and reports cash flows during the period classified by operating, investing and financing activities.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForCashFlowsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__21": { "value": "Preparation of financial statements in accordance with IFRS requires that the management makes judgements and prepares estimates and assumptions which have an impact on the recognized amounts for assets, liabilities, revenue and costs. Estimates and related assumptions have been based on the management\u2019s best knowledge of past and recent events, experience and other factors which are considered reasonable under the circumstances. Actual results may deviate from such assumptions. Estimates and underlying assumptions are subject to continuous evaluation.", "dimensions": { "concept": "ifrs-full:ExplanationOfAssumptionAboutFutureWithSignificantRiskOfResultingInMaterialAdjustments", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__32": { "value": "The cost of options granted to employees and employee option social security costs are classified as employee costs while cost of options granted to consultants/contractors are classified as other operating costs.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__35": { "value": "Research and development expenses and capitalization of intangible assets: Research costs are expensed as incurred. An intangible asset arising from the development expenditure on an individual project is recognized only when the Group can demonstrate the technical feasibility of completing the intangible asset so that it will be available for use or sale, the Group\u2019s intention and capability of completing the development and realize the assets, and the net future financial benefits of use or sale.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__34": { "value": "Research and development expenses and capitalization of intangible assets: Research costs are expensed as incurred. An intangible asset arising from the development expenditure on an individual project is recognized only when the Group can demonstrate the technical feasibility of completing the intangible asset so that it will be available for use or sale, the Group\u2019s intention and capability of completing the development and realize the assets, and the net future financial benefits of use or sale.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__33": { "value": "Research and development expenses and capitalization of intangible assets: Research costs are expensed as incurred. An intangible asset arising from the development expenditure on an individual project is recognized only when the Group can demonstrate the technical feasibility of completing the intangible asset so that it will be available for use or sale, the Group\u2019s intention and capability of completing the development and realize the assets, and the net future financial benefits of use or sale.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__22": { "value": "The allowance for inventory obsolescence (inventory write-down) is based on the expected demand and resulting obsolescence estimate for each group of finished products, intermediate products, and raw materials. The estimated obsolescence is based on the 2026-2027 sales budget. The estimates have been set after thorough evaluations and significant judgements. In 2025, the inventory turnover was low due to delays of sales in India, China and Bangladesh.In 2026, the sales are expected to accelerate, and a major part of the inventory is expected to be sold. Still, the Group has a limited operating history with several of its major customers and many of these customers are located in countries with high geo-political risk, which makes it more challenging to estimate future sales and establish obsolescence estimates. Moreover, there is risk and uncertainty to these expected sales estimates in relation to the expected progress in the sales process that is dependent on the group\u2019s customers\u2019 progress on their sales to end-customers and individual project progress relating to product development and government certifications. These risks may differ per product and these observations, together with the relatively significant amount of inventory held by the group at year-end 2025, make valuation of the inventory and estimated inventory obsolescence significant accounting estimates. Please see note 12 for further details.", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__23-1": { "value": "NOTE 2Summary of material accounting policiesBasis of preparationThese financial statements have been prepared in accordance with IFRS\u00ae Accounting Standards as adopted by the EU per 31 December 2025. Going concernThe Board of Directors confirms that the financial statements have been prepared under the assumption of going concern. Please refer to note 25 for further details. Currency These financial statements are presented in Norwegian kroner, which is also the Parent company\u2019s functional currency. Except for NEXT Biometrics AS, which is based in Norway and that uses USD as its functional currency, each entity within the Group utilizes the local currency of its domicile and operational base as its functional currency.Property, plant and equipmentProperty, plant and equipment are held at cost less accumulated depreciation and impairment losses. When assets are sold or disposed, the gross carrying amount and accumulated depreciations are reversed. Any gain or loss on the sale or disposal is recognized in the profit and loss. InventoryRaw materials, work in progress and finished products are valued at the lower of cost and net realizable value after deduction for obsolescence. Costs are determined using the FIFO and average cost method. Cash flowThe cash flow statement has been drawn up in accordance with the indirect method and reports cash flows during the period classified by operating, investing and financing activities.Significant estimates and judgementsPreparation of financial statements in accordance with IFRS requires that the management makes judgements and prepares estimates and assumptions which have an impact on the recognized amounts for assets, liabilities, revenue and costs. Estimates and related assumptions have been based on the management\u2019s best knowledge of past and recent events, experience and other factors which are considered reasonable under the circumstances. Actual results may deviate from such assumptions. Estimates and underlying assumptions are subject to continuous evaluation.Critical accounting estimates for the Group are:Share-based remuneration: The cost of options granted to employees and employee option social security costs are classified as employee costs while cost of options granted to consultants/contractors are classified as other operating costs. Please see note 19 for further details. Research and development expenses and capitalization of intangible assets: Research costs are expensed as incurred. An intangible asset arising from the development expenditure on an individual project is recognized only when the Group can demonstrate the technical feasibility of completing the intangible asset so that it will be available for use or sale, the Group\u2019s intention and capability of completing the development and realize the assets, and the net future financial benefits of use or sale. Estimate uncertainty related to inventory valuation and allowance for inventory obsolescence The allowance for inventory obsolescence (inventory write-down) is based on the expected demand and resulting obsolescence estimate for each group of finished products, intermediate products, and raw materials. The estimated obsolescence is based on the 2026-2027 sales budget. The estimates have been set after thorough evaluations and significant judgements. In 2025, the inventory turnover was low due to delays of sales in India, China and Bangladesh.In 2026, the sales are expected to accelerate, and a major part of the inventory is expected to be sold. Still, the Group has a limited operating history with several of its major customers and many of these customers are located in countries with high geo-political risk, which makes it more challenging to estimate future sales and establish obsolescence estimates. Moreover, there is risk and uncertainty to these expected sales estimates in relation to the expected progress in the sales process that is dependent on the group\u2019s customers\u2019 progress on their sales to end-customers and individual project progress relating to product development and government certifications. These risks may differ per product and these observations, together with the relatively significant amount of inventory held by the group at year-end 2025, make valuation of the inventory and estimated inventory obsolescence significant accounting estimates. Please see note 12 for further details.NOTE 26 Restatement of 2024 annual accountsThe Group communicated in its reporting for the second quarter and half year 2025 that irregularities had occurred relating to customers/distributors and the subsidiary in China. The Board of Directors initiated an investigation of the irregularities. Due to significant overdue accounts receivable in general, the Board of Directors also requested that these accounts receivable were investigated and that relevant areas of improvement in the company\u2019s enterprise risk management were identified. In addition to investigating the irregularities pertaining to the Chinese business, the key focus of the investigation was to establish the necessary facts to be able to assess any additional need for adjustments in the financial reporting.The implications of the observations and facts established from the investigation, and the subsequent assessments, are significant and substantial to the financial statements for the full year 2024. The facts revealed, and need foradjustments in the financial reporting, have no directly significant liquidity effects. The key implications fall into three different categories of reported sales, each briefly described below.Sales and revenue irregularities relating to the business in China and NEXT Biometrics China (NEXT's Chinese subsidiary)The investigation has substantiated that irregularities have occurred in the Group's subsidiary in China as selected sales transactions appear to lack proper commercialsubstance. The Group's and its sales and marketing partner\u2019s have different views on several topics, and the sales and marketing partner has filed a claim against the Group for unpaid sales and marketing incentive fees. The Group holds the view that certain sales transactions in China are not valid orders and has engaged legal advisors and is managing the dispute as required. Moreover, historical revenues in the amount of approximately NOK 13.2 million has been reversed in 2024 relating to these sales transactions. Also, the Group has not received payments for any of these goods and has requested the products returned. Currently, none of the customers and distributors have returned any products to the Group.Other distributors in China and TaiwanThe investigation into other distributors related to Chinese activities and our subsidiary in China also revealed that the commercial agreements relating to the reported sales to two other Chinese distributors, and one Taiwanese distributor, do not meet the criteria to be recognised as revenue in NEXT\u2019s financial statements. Most of the reported sales was accounted for in 2024 and sums up to approximately NOK 25 million, which has been restated in the 2024 financial statements. Moreover, NOK 3 million in revenues was restated in the 2023 financial statement. A portion of the inventory shipped to the distributors based on sales reported by the subsidiary in China has been inspected. Most of the inventory shipped to distributors in China has been returned to the company and is recognized as inventory. A small portion of the shipped inventory in this category is still with a distributor and recognized as inventory in consignment as per 31 December 2025. Simultaneously, the Group has booked reversals for cost of materials for those transactions where either the goods have been returned or recognised as inventory in consignment.Distributors targeting the market in India and BangladeshEntering both the market in India and Bangladesh has been more challenging than expected, amongst other reasons due to the unstable political situation in Bangladesh and a security breach pertaining to a supplier (without association to NEXT) to the Indian Aadhaar-program causing a major delay to NEXT\u2019s business. NEXT\u2019s distribution agreements, including its standard terms and conditions applicable to the reported sales, appear to be sound and managing relevant aspects of such a commercial agreement.However, in 2025, we have learned that the Indian and Bangladeshi markets are more challenging and that it is de-facto an inherent uncertainty pertaining to payments from the reported sales. Even if it is clearly stated in the Group's commercial agreements, the Group has not received payment from its distributors until the end-customers have paid them.Based on this, the Group has, for accounting purposes, decided to categorize most shipments pertaining to these distributors as consignment arrangements. More specifically, this relates to all shipments to one of the distributors in 2024 and 2025 and one shipment in 2025 to the other distributor. Due to this, restated comparable figures for 2024 have been prepared and presented in this report. The previously reported revenues in 2024 relating to the markets in India and Bangladesh that now are reported as consignment arrangements represent approximately NOK 14 million in revenue reversals.Reversals of cost of materials and recognition of inventory in consignmentIn connection with the revenue restatements, the Group has booked reversals for cost of materials for those transactions where either the goods have been returned or recognised as inventory in consignment. The Group has booked reversal of costs of materials amounting to NOK 15.6 million in 2024 and NOK 1.1 million in 2023. Moreover, NOK 17.7 million inventory in consignment has been recognized as per 31 December 2024.The goods stored in warehouses arranged by the distributors have been inspected as part of the investigation and appear to be in good condition and adequately secured.Operating expense adjustments and reversalsThe Group has also reversed bad debt expenses in conjunction with the reversals of revenue and account receivables, which amount to approximately NOK 7.4 million in 2024. Separately, the Group booked a reversal of sales and marketing incentive fees amounting to approximately NOK 3.7 million as well as additional costs of NOK 3.4 million relating to valuation allowances for prepaid VAT for sales domestically in China in connection with the restatements. The China VAT costs were triggered by the uncertain timeline for recovering the VAT through sales in China denominated in Chinese Yuan.Moreover, the non-recurring expense adjustment includes a reclassification from revenue discounts to other operating expenses amounting to NOK 1.3 million, which was related to a sales and marketing incentives in India.The following tables show the amounts previously reported, the adjustments, and the amounts restated in each line item reported in the NEXT Group financial statements for the year ended December 31 2024:Group | Consolidated statement of comprehensive income 1 January - 31 December 2024(amounts in NOK 1,000) Amounts as previously stated Adjustments full year RestatedRevenues 71,574 -51,894 19,681Cost of materials -32,416 15,635 -16,780Gross profit 39,158 -36,258 2,900Payroll expenses -32,791 -32,791Other operating expenses -47,041 6,395 -40,647Depreciation and amortization -5,394 -5,394Total operating expenses -85,227 6,395 -78,832Operating profit (loss) -46,068 -29,864 -75,932Financial income 1,482 1,482Financial expenses -119 -119Net currency gains (losses) -332 -332Net financial items 1,030 1,030Profit (loss) before taxes -45,038 -29,864 -74,902Income tax expenses -197 -197Profit (loss) after taxes -45,235 -29,864 -75,099Earnings per share (in NOK)Basic and diluted -0.42 -0.70Other comprehensive income (loss) that may be reclassified subsequently to profit and loss:Translation differences on net investments in foreign operations 6,369 -2,089 4,280Other comprehensive income (loss) 6,369 -2,089 4,280Total comprehensive income (loss) -38,866 -31,953 -70,819Profit (loss) after taxes attributable to:Owners of the parent company -45,235 -75,099Total comprehensive income (loss) attributable to:Owners of the parent company -38,866 -70,819Group | Consolidated statement of financial position As of 31 December 2024(amounts in NOK 1,000) Amounts as previously reported Adjustments full year RestatedIntangible assets 825 825Property, plant and equipment 7,094 7,094Total non-current assets 7,919 7,919Inventories 17,672 17,672Inventories in consignment - 17,719 17,719Accounts receivables 56,754 -53,433 3,321Other current assets 7,138 7,138Cash 62,907 62,907Total current assets 144,471 -35,714 108,757Total assets 152,390 -35,714 116,676Share capital 115,155 115,155Share premium 70,268 70,268Other reserves 35,208 35,208Retained earnings -101,775 -34,078 -135,853Total equity 118,857 -34,078 84,779Non-current lease liabilities 2,244 2,244Total non-current liabilities 2,244 2,244Accounts payables 10,910 10,910Income tax payables - -Current lease liabilities 1,843 1,843Other current liabilities 18,537 -1,637 16,900Total current liabilities 31,289 -1,637 29,653Total equity and liabilities 152,390 -35,714 116,676Group | Consolidated statement of cash flow As of 31 December 2024(amounts in NOK 1,000) Amounts as previously reported Adjustments full year RestatedProfit (loss) before taxes -45,038 -29,864 -74,902Share based remuneration 3,243 3,243Share based payments social security expense -1,637 -1,637Depreciation and amortization 5,394 5,394Change in inventories 5,817 -17,719 -11,902Change in accounts receivables -44,452 53,433 8,981Change in accounts payables 4,926 4,926Change in other working capital items and other 8,807 -5,852 2,955Interests received 1,400 1,400Interests paid -141 -141Net cash flow from operating activities -61,681 -2 -61,683Purchase of property, plant and equipment and intangible assets -597 -597Net cash flow from investing activities -597 -597Net proceeds from issue of shares 60,129 60,129Payment of lease liabilities -2,017 -2,017Net cash flow from financing activities 58,111 58,111Net change in cash flow -4,167 -4,167Cash balance as of 1 January 67,753 67,75 3Effects of exchange rate changes on cash -679 -679Cash balance as of 31 December 62,907 62,907Comprising of:Cash 62,907 62,907", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__36": { "value": "NOTE 3 Revenues and segment reportingAccounting principleThe Group manufactures and sell fingerprint sensor technology hardware and software, both to distributors and end-customers. The sales contract and terms of delivery depends on the customer, but most products are shipped ex-works. In accordance with IFRS 15, revenue is recognized when control of the product is transferred to the customer or distributor. Typically when the customer picks up the products as per contract, the Group has delivered and transferred the products, there is no unfulfilled obligation that could affect the customer's acceptence of the products. The goods are predominately sold based on fixed prices. No significant element of financing is deemed present as the sales are normally made with a credit term of 30-90 days upon delivery, which is consistent with market practice.The Group delivers products both to distributors and directly to end-customers. The Group assess individual contracts and determines whether the individual sales or shipment to a distributor is to be considered revenue or a consignment sale or shipment. When making this assessment it will be considered whether the risk has been transferred from the Group to the distributor. Such considerations involves whether the buyer is considered to be able to pay the Group on the agreed terms, whether the buyer could have the opportunity to return products to the Group and whether the distributor/agent has sold or will be able to sell products to end-customer. The classification of a sale to a distributor as a normal sale or as a consignment sales will have an impact on the timing and measurement of revenue recognition.Restated(amounts in NOK 1,000) 2025 2024Fingerprint sensor technology 13,158 19,358Other income 205 322Total operating revenues 13,364 19,681The Group targets four customer groups and application areas for the technology:(i) Office & Notebooks\ue61e(ii) Payment & Fintech\ue61e(iii) Access control (iv) Public Security\ue61e The same generic fingerprint sensor technology and products is used for all customers. Most of the Group\u2019s key IP, including our NEXT Active Thermal\u2122 is shared and used in all products. The employees in the Group work across all products and customers. The R&D personnel are focused on technology, rather than specific customer groups such as Office & Notebooks or Public Security. Based on this, the Group consider that we only operate within one business segment, and therefore also report only within one business segment, \u201cFingerprint sensor technology\u201d. The Group's property, plant and equipment (PPE) mainly consist of a specialized coating machine that is located in Taipei, Taiwan. The remaining part of the Group's PPE consists of R&D test equipment located in Seattle, USA and Taipei, Taiwan.The Group's revenues, both in 2025 and in 2024, were mainly related to customers geographically located in Asia (Japan and India), Europe (France and Germany) and North America. The Group has 5 major customers, which represent 19% (45%), 19% (1%), 18% (0%), 13% (5%) and 10% (3%) of revenues in 2025 (2024 in brackets).All of the group's revenue is point in time type of revenue.Other income of NOK 0.2 million mainly relates to sublease of office space.Restated revenuesA reconciliation of previously reported figures to the restated amounts is presented in the table below.As previously reported Adjustments Restated(amounts in NOK 1,000) 2024 2024 2024Fingerprint sensor technology 71,252 -51,894 19,358 Other income 322 - 322 Total operating revenues 71,574 19,681", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__38": { "value": "NOTE 3 Revenues and segment reportingAccounting principleThe Group manufactures and sell fingerprint sensor technology hardware and software, both to distributors and end-customers. The sales contract and terms of delivery depends on the customer, but most products are shipped ex-works. In accordance with IFRS 15, revenue is recognized when control of the product is transferred to the customer or distributor. Typically when the customer picks up the products as per contract, the Group has delivered and transferred the products, there is no unfulfilled obligation that could affect the customer's acceptence of the products. The goods are predominately sold based on fixed prices. No significant element of financing is deemed present as the sales are normally made with a credit term of 30-90 days upon delivery, which is consistent with market practice.The Group delivers products both to distributors and directly to end-customers. The Group assess individual contracts and determines whether the individual sales or shipment to a distributor is to be considered revenue or a consignment sale or shipment. When making this assessment it will be considered whether the risk has been transferred from the Group to the distributor. Such considerations involves whether the buyer is considered to be able to pay the Group on the agreed terms, whether the buyer could have the opportunity to return products to the Group and whether the distributor/agent has sold or will be able to sell products to end-customer. The classification of a sale to a distributor as a normal sale or as a consignment sales will have an impact on the timing and measurement of revenue recognition.Restated(amounts in NOK 1,000) 2025 2024Fingerprint sensor technology 13,158 19,358Other income 205 322Total operating revenues 13,364 19,681The Group targets four customer groups and application areas for the technology:(i) Office & Notebooks\ue61e(ii) Payment & Fintech\ue61e(iii) Access control (iv) Public Security\ue61e The same generic fingerprint sensor technology and products is used for all customers. Most of the Group\u2019s key IP, including our NEXT Active Thermal\u2122 is shared and used in all products. The employees in the Group work across all products and customers. The R&D personnel are focused on technology, rather than specific customer groups such as Office & Notebooks or Public Security. Based on this, the Group consider that we only operate within one business segment, and therefore also report only within one business segment, \u201cFingerprint sensor technology\u201d. The Group's property, plant and equipment (PPE) mainly consist of a specialized coating machine that is located in Taipei, Taiwan. The remaining part of the Group's PPE consists of R&D test equipment located in Seattle, USA and Taipei, Taiwan.The Group's revenues, both in 2025 and in 2024, were mainly related to customers geographically located in Asia (Japan and India), Europe (France and Germany) and North America. The Group has 5 major customers, which represent 19% (45%), 19% (1%), 18% (0%), 13% (5%) and 10% (3%) of revenues in 2025 (2024 in brackets).All of the group's revenue is point in time type of revenue.Other income of NOK 0.2 million mainly relates to sublease of office space.Restated revenuesA reconciliation of previously reported figures to the restated amounts is presented in the table below.As previously reported Adjustments Restated(amounts in NOK 1,000) 2024 2024 2024Fingerprint sensor technology 71,252 -51,894 19,358 Other income 322 - 322 Total operating revenues 71,574 19,681", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__39": { "value": "NOTE 3 Revenues and segment reportingAccounting principleThe Group manufactures and sell fingerprint sensor technology hardware and software, both to distributors and end-customers. The sales contract and terms of delivery depends on the customer, but most products are shipped ex-works. In accordance with IFRS 15, revenue is recognized when control of the product is transferred to the customer or distributor. Typically when the customer picks up the products as per contract, the Group has delivered and transferred the products, there is no unfulfilled obligation that could affect the customer's acceptence of the products. The goods are predominately sold based on fixed prices. No significant element of financing is deemed present as the sales are normally made with a credit term of 30-90 days upon delivery, which is consistent with market practice.The Group delivers products both to distributors and directly to end-customers. The Group assess individual contracts and determines whether the individual sales or shipment to a distributor is to be considered revenue or a consignment sale or shipment. When making this assessment it will be considered whether the risk has been transferred from the Group to the distributor. Such considerations involves whether the buyer is considered to be able to pay the Group on the agreed terms, whether the buyer could have the opportunity to return products to the Group and whether the distributor/agent has sold or will be able to sell products to end-customer. The classification of a sale to a distributor as a normal sale or as a consignment sales will have an impact on the timing and measurement of revenue recognition.Restated(amounts in NOK 1,000) 2025 2024Fingerprint sensor technology 13,158 19,358Other income 205 322Total operating revenues 13,364 19,681The Group targets four customer groups and application areas for the technology:(i) Office & Notebooks\ue61e(ii) Payment & Fintech\ue61e(iii) Access control (iv) Public Security\ue61e The same generic fingerprint sensor technology and products is used for all customers. Most of the Group\u2019s key IP, including our NEXT Active Thermal\u2122 is shared and used in all products. The employees in the Group work across all products and customers. The R&D personnel are focused on technology, rather than specific customer groups such as Office & Notebooks or Public Security. Based on this, the Group consider that we only operate within one business segment, and therefore also report only within one business segment, \u201cFingerprint sensor technology\u201d. The Group's property, plant and equipment (PPE) mainly consist of a specialized coating machine that is located in Taipei, Taiwan. The remaining part of the Group's PPE consists of R&D test equipment located in Seattle, USA and Taipei, Taiwan.The Group's revenues, both in 2025 and in 2024, were mainly related to customers geographically located in Asia (Japan and India), Europe (France and Germany) and North America. The Group has 5 major customers, which represent 19% (45%), 19% (1%), 18% (0%), 13% (5%) and 10% (3%) of revenues in 2025 (2024 in brackets).All of the group's revenue is point in time type of revenue.Other income of NOK 0.2 million mainly relates to sublease of office space.Restated revenuesA reconciliation of previously reported figures to the restated amounts is presented in the table below.As previously reported Adjustments Restated(amounts in NOK 1,000) 2024 2024 2024Fingerprint sensor technology 71,252 -51,894 19,358 Other income 322 - 322 Total operating revenues 71,574 19,681", "dimensions": { "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__37": { "value": "The Group manufactures and sell fingerprint sensor technology hardware and software, both to distributors and end-customers. The sales contract and terms of delivery depends on the customer, but most products are shipped ex-works. In accordance with IFRS 15, revenue is recognized when control of the product is transferred to the customer or distributor. Typically when the customer picks up the products as per contract, the Group has delivered and transferred the products, there is no unfulfilled obligation that could affect the customer's acceptence of the products. The goods are predominately sold based on fixed prices. No significant element of financing is deemed present as the sales are normally made with a credit term of 30-90 days upon delivery, which is consistent with market practice.The Group delivers products both to distributors and directly to end-customers. The Group assess individual contracts and determines whether the individual sales or shipment to a distributor is to be considered revenue or a consignment sale or shipment. When making this assessment it will be considered whether the risk has been transferred from the Group to the distributor. Such considerations involves whether the buyer is considered to be able to pay the Group on the agreed terms, whether the buyer could have the opportunity to return products to the Group and whether the distributor/agent has sold or will be able to sell products to end-customer. The classification of a sale to a distributor as a normal sale or as a consignment sales will have an impact on the timing and measurement of revenue recognition.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__41-1": { "value": "NOTE 4 Payroll expenses(amounts in NOK 1,000) 2025 2024Salaries, fees -28,170 -26,169Share based remuneration (salary part) -4,232 -2,776Share based remuneration (employer's tax) 1,880 1,637Social security taxes -3,924 -3,600Pension contribution -1,142 -652Other personnel expenses -759 -1,231Total payroll expenses -36,346 -32,791Average numbers of employees 25 23The cost for share based remuneration (employer's tax) was negative NOK 1.9 million in 2025 compared to a negative cost of NOK 1.6 million in 2024. The negative cost in 2025 is due to reduction in the liability for share option social security tax mainly triggered by a reduction in the Group's stock price price and lowered social security cost for future periods from 19.1% to 14.1%. Please refer to note 19 for further information on the Group's option program.The Group employed an average number of employees of 25. In addition, the company had 21 contractors who were working for the company on a part time or full time basis by year end.The parent company, NEXT Biometrics Group ASA, provides a contribution-based pension insurance scheme for all employees. The scheme satisfies the mandatory service pension (\u2018OTP\u2019) in Norway. NEXT Biometrics Inc has a 401-K plan for its employees, which allows employees to save for retirement with pre-tax funds. The company currently does not contribute to this plan but pays for its administration. NEXT Biometrics Taiwan Ltd offers an employee pension plan with an annual contribution of 6% of the salary, but capped at TWD 9,000 per month per employee (NOK 3,100 per month). NEXT Biometrics China Ltd and NEXT Biometrics Solutions Pvt Ltd have no local pension plans.Termination benefits\ue61f Termination benefits are payable when the employment is terminated by the Group before the normal retirement date or when an employee accepts voluntary redundancy in exchange for these benefits. The Group recognizes termination benefits when the Group can no longer withdraw the offer.NOTE 5 Other operating expensesRestated(amounts in NOK 1,000) 2025 2024Product and marketing costs -7,320 -8,131Business services costs -16,235 -18,084R&D costs -2,783 -4,1731R&D and government grants1,699 1,8482Fees to contractors, auditors, lawyers and others-10,945 -5,382Allowance for expected credit loss -16 983 Other expenses-3,205 -6,3714Share based remuneration (operating part)-625 -452Total other operating expenses -39,430 -40,647The Group's business service costs decreased from NOK 18.1 million in 2024 to NOK 16.2 million in 2025 mainly due to lower sales incentive bonuses.The Group's R&D costs decreased mainly due to capitalization of project expenses.As communicated throughout 2025, the Board of Directors initiated an external investigation of the irregularities in China and have carried out a comprehensive review of historical reported revenues and our internal controls. We have also incurred additional litigation costs. This has caused significantly higher fees from auditors, lawyers and other service providers in 2025 compared to 2024.1) R&D grants and other government grants are related to Skattefunn and Forregion grants in 2024/2025.2) Fees to contractors, auditors, lawyers refers to amounts paid the company's contractors and service providers who are working for the company on a part time or full time basis.3) Other expenses include software expenses, IT cost, insurance fees, non deductable VAT and stock exchange related fees.4) Share based remuneration (operating part) refers to share options granted to contractors (see note 18 for further information).Restated other operating expensesA reconciliation of previously reported figures to the restated amounts is presented in the table below.As previously reported Adjustments Restated(amounts in NOK 1,000) 2024 2024 2024Product and marketing costs -6,795 -1,336 -8,1311Sales and marketing incentive fees-3,631 3,631 -Business services costs -18,084 -18,084R&D costs -4,173 -4,173R&D and government grants 1,848 1,848Fees to contractors, auditors, lawyers and others -5,382 -5,3822Allowance for expected credit loss-7,315 7,41 3 983Other expenses-3,057 -3,314 -6,371Share based remuneration (operating part) -452 -452Total other operating expenses -47,041 -40,647Explanation of adjustments: 1) Reversed sales and marketing fees in relation to partner in China (see note 26 for more information)2) Reduction of allowance of expected credit loss as a consequence of restatements (reversal of revenue and related account receivables) 3) Booked valuation allowance for prepaid VAT for sales domestically in China in connection with restatements (see note 26 for more information)NOTE 19 Share capital, shareholder\u2019s information and share-based optionsThere is one class of shares. All shares have equal rights and are freely negotiable. The share capital is fully paid in. The par value of the shares is NOK 1 per share.There were 119,860,417 shares in the company on 31 December 2025, compared to 115,154,535 shares on 31 December 2024. At the end of 2025 there were 3,158 shareholder accounts compared to 3,391 at the end of 2024.Number of shares outstanding 2025 2024Opening balance 115,154,535 104,024,929Share issue(s) 4,705,882 5,500,000Exercised incentive share options - 5,629,606Closing balance 119,860,417 115,154,535In October 2025, NEXT Biometrics Group ASA completed private placement of 4,705,882 new shares at a subscription price of NOK 4.25 per share, raising gross proceeds of NOK 20 million. Direct expenses and underwriting commission in relation to the private placement was NOK 0.7 million and net proceeds were NOK 19.3 million.In October 2024, NEXT successfully completed a private placement issuing 5,500,000 new shares at a subscription price of NOK 7.3 per share, corresponding to gross proceeds of NOK 40.2 million. Direct expenses and underwriting commission in relation to the private placement was NOK 2.1 million and net proceeds were NOK 38.1 million. Moreover, in February, May and August 2024, 909,606 share options were exercised at an average subscription price of NOK 3.7 per share with total gross proceeds of NOK 3.4 million and net proceeds of NOK 3.3 million. Further, in September 2024, 4,720,000 share options were exercised at an average subscription price of NOK 3.99 per share with total gross proceeds of NOK 18.9 million and gross proceeds of NOK 18.8 million. Total net proceeds for the year 2024 amounted to NOK 60.1 million.There are no authorizations to the board to purchase own shares.Capital resourcesNEXT manages its liquidity passively, which means that funds are placed in floating-interest bank accounts. The majority of cash is held in Norwegian kroner at parent company level and is distributed when appropriate to the affiliates. This is both to have control of the overall liquidity situation and to manage expense levels in the affiliates. NEXT has no interest bearing debt by the end of 2025.NEXT targets to have an equity ratio above 80%, measured as total equity divided by total assets.RestatedEquity ratio 2025 2024Total equity 25,175 84,779Total assets 49,269 116,676Equity share 51% 73%Capital resources 2025 2024Current liabilities 23,095 29,653Non-current liabilities 999 2,244Less cash -8,294 -62,907Net debt (net cash) 15,800 -31,010Total equity 25,175 84,779Total capital resources 40,975 53,769Gearing ratio (%) 39% -58%As originally presented Adjustment Restated(amounts in NOK 1,000) 2024 2024 2024Equity ratioTotal equity 118,857 -34,078 84,779Total assets 152,390 -35,714 116,676Equity share 78% 73%Capital resources 2024 2024 2024Current liabilities 31,289 -1,636 29,653Non-current liabilities 2,244 2,244Less cash -62,907 -62,907Net debt (net cash) -29,374 -1,636 -31,010Total equity 118,857 -34,078 84,779Total capital resources 89,483 -35,714 53,769Gearing ratio (%) -33% -58%The largest shareholders at year end and shares owned by executive and Directors of the Board:Top 20 shareholders at 31 December 2025 Number of shares Percent of sharesSkandinaviska Enskilda Banken AB 7,413,614 6.2 %EDGEWATER AS 7,313,502 6.1 %VALSET INVEST AS 7,000,000 5.8 %NORUS AS 6,996,898 5.8 %SILVERCOIN INDUSTRIES AS 6,941,162 5.8 %HAAS AS 6,543,071 5.5 %VERDIPAPIRFONDET DELPHI NORGE 6,122,241 5.1 %SONGA CAPITAL AS 5,150,486 4.3 %CAMACA AS 5,015,783 4.2 %NORUS HOLDING AS 3,203,449 2.7 %UBS SWITZERLAND AG 2,990,979 2.5 %AS AUDLEY 2,627,027 2.2 %LUCELLUM AS 2,470,000 2.1 %MARSTAL AS 1,986,158 1.7 %The Bank of New York Mellon SA/NV 1,567,896 1.3 %CAMIKO AS 1,502,264 1.3 %HANOMA HOLDING AS 1,500,000 1.3 %ECOMNEX HOLDING AS 1,494,461 1.2 %Skandinaviska Enskilda Banken AB 1,371,472 1.1 %SPECTER INVEST AS 1,284,500 1.1 %Total top 20 80,494,963 67.2 %Others 39,365,454 32.8%Total number of shares 119,860,417 100.0%Shares owned by Executives and Directors of the Board Number of shares Percent of shares Held throughSenior ExecutivesUlf Ritsvall, CEO 67,000 0.06%Eirik Underthun, CFO 143,000 0.12%Marcus Lauren, CPO 20,000 0.02%Digvijay Singh Kanwar, SVP Head of Sales IUEA - 0.00%Joshua Chui, SVP Head of Sales South-East Asia - 0.00%Board of DirectorsHans Henrik Klouman, Chair 93,059 0.08% Virkelyst ASRoy Tselentis, Deputy Chair - 0.00%Tove Giske 450,000 0.38% TGI ASSiri Gomn\u00e6s B\u00f8rsum 9,412 0.01%Emine Lundkvist 79,738 0.07%Nomination CommitteeHans Herman Horn 17,586,991 14.67% NORUS AS, Norus Holding Datter AS, Edgewater AS & Hans Herman Horn1Haakon S\u00e6ter8,157,640 6.81% Silvercoin Industries AS, Fredrikstad Spillerinvest AS, Six-Seven AS & Haakon S\u00e6terAndreas Berdal Lorentzen - 0.00%Total 26,606,840 22.20%1 In addition to the shares held directly through Silvercoin Industries AS, Fredrikstad Spillerinvest AS and Six-Seven AS, Silvercoin Industries AS held futures held futures contracts on 1,000,000 NEXT shares as per 31 December 2025. As of 31 December 2025, the Company has one share option program:Long-term share options programNEXT has allotted long-term share options to employees and board members. The options in the 2020, 2021 and 2022 program are fully vested as per 31. December 2025. 2/3 of the options allocated to employees in the 2023 program has vested while the remaining 1/3 will vest in quarter one 2026. 1/3 of the options allocated to employees in the 2024 program has vested, and 1/3 of remaining unvested options will vest in quarter three 2026 and 1/3 in quarter one 2027. The options in the 2020 and 2021 program were extended during 2023 and these options expire in Q2 2026. The options in the 2022 program expire in Q3 2027. The options in the 2023, 2024 and 2025 program expire 5 years after the options have been granted (2028, 2029 and 2030 respectively). The options in the 2025 programoffered to board members is vesting 1/2 in 2026 and 1/2 in 2027. There are currently an accumulated 13,987,161 (11.67% of total number of shares in the Company) share options outstanding. Out of these, 7,775,549 share options have vested.Each option gives the holder the right to acquire one share from the Company at a strike price defined in the individual share option agreement.The option agreements include a clause on accelerated vesting in case of a majority of shares in the Company are (i) sold to an acquirer, (ii) the Company is merged with another company, (iii) a demerger occurs, and (iv) if the company's shares are delisted. At the Annual General Meeting (AGM) 9 May 2025 the Board of Directors was granted authorization to issue up to 9,278,911 shares in the company in relation to options granted to employees and board members. 2025 2024Weighted average Weighted average Options - movement Number of optionsexercise price Number of optionsexercise priceOutstanding options - Beginning period 10,020,579 5.65 14,048,519 4.81 Granted 4,070,000 4.08 2,225,000 7.86 Exercised - 0.00 -5,629,606 3.96 Forfeited or expired -103,418 7.94 -623,334 9.74 Outstanding options - End period 13,987,161 5.18 10,020,579 5.65 Vested options - End period 7,775,549 5.17 6,479,028 4.83 2025 2024Weighted average Weighted average Number of optionsfair value Number of optionsfair valueGranted options - During period 4,070,000 0.79 2,225,000 2.00 Of which adjustment prior periods expense Remaining expense Net expense in the period because of change in estimated number of future periods Number of options expected 2025(NOK 1,000)options that will vest (NOK 1,000) (NOK 1,000)to vest (number of options)2020 grants - - - 1,598,500 2021 grants - - - 1,803,664 2022 grants 857,314 - - 2,314,997 2023 grants 1,153,450 - 61,421 1,975,000 2024 grants 1,994,189 - 1,323,113 2,225,000 2025 grants 845,621 - 2,384,355 4,070,000 Total 4,850,574 - 3,768,889 13,987,161 Weighted average remaining Number of options expected Total number of options outstanding 2025 Range of exercise pricecontractual life (years)to vest (number of options)(number of options)2020 grants 2,49-3,21 0.47 1,598,500 1,598,500 2021 grants 5,97-7,45 0.47 1,803,664 1,803,664 2022 grants 4,48-4,89 1.66 2,314,997 2,314,997 2023 grants 5,94-6,46 2.46 1,970,653 1,975,000 2024 grants 7,86-7,86 3.46 2,121,439 2,225,000 2025 grants 3,38-5,16 4.36 3,684,790 4,070,000 Total 13,494,043 13,987,161 The fair value for the share-based options granted in the year has been calculated by use of the Black-Scholes and the following assumptions have been applied in 2024 and 2023: Exercise price:2025: Weighted average NOK 4.08 per share2024: Weighted average NOK 7.86 per shareVesting period:2025 employee options: 1/3 have 1 years, 1/3 have 2 years and 1/3 have 2.5 years2024 employee options: 1/3 have 1 years, 1/3 have 2 years and 1/3 have 2.5 yearsVolatility:2025: 34%-46% depending on time to maturity of individual options.2024: 41%-42% depending on time to maturity of individual options.Risk free interest rate:2025: 3.67%-3.90% depending on time to maturity of individual options.2024: 3.58%-4.10% depending on time to maturity of individual optionsAttrition:2025: Estimated 8% employee attrition for individual non-vested share-based options2024: Estimated 8% employee attrition for individual non-vested share-based options.No expected dividend paymentNOTE 20 Remuneration key personnel and audit feesACTUAL REMUNERATION \ue61e SENIOR EXECUTIVESBoard Fair value Total 2025 (amounts in NOK 1,000)remuneration Salary Bonus Other benefits Pension costgranted options *remunerationSenior ExecutivesUlf Ritsvall, CEO - 3,160 330 57 - 2,409 5,956 Eirik Underthun, CFO - 2,124 - 6 173 260 2,563 Marcus Lauren, CPO** - 2,880 - - - 208 3,088 Digvijay Singh Kanwar, SVP Head of Sales IUEA** - 972 -519 - - 258 710 Joshua Chui, SVP Head of Sales South-East Asia** - 1,819 -1,341 - - 219 697 Board of DirectorsHans Henrik Klouman, Chair - - - - - 426 426 Roy Tselentis, Deputy Chair - - - - - 104 104 Tove Giske - - - - - - - Siri Gomn\u00e6s B\u00f8rsum 200 - - - - 55 255 Emine Lundkvist 200 - - - - 85 285 Odd-Harald Hauge, former Chair 500 - - - - - 500 Petter Fjellstad, former Board member 200 - - - - - 200 Nomination committeeHans-Herman Horn, Chair 20 - - - - - 20 Haakon S\u00e6ter 20 - - - - - 20 Andreas Berdal Lorentzen - - - - - - - Jon Frode Vaksvik, former Chair 30 - - - - - 30 Total remuneration 1,170 10,955 -1,530 63 173 4,025 14,856Board Fair value granted Total 2024 (amounts in NOK 1,000)remuneration Salary Bonus Other benefits Pension costoptions *remunerationSenior ExecutivesUlf Ritsvall, CEO - 2,960 1,509 65 - 1,939 6,472 Eirik Underthun, CFO - 2,010 - 5 181 291 2,487 Marcus Lauren, CPO** - 2,253 - - - 111 2,364 Digvijay Singh Kanwar, SVP Head of Sales IUEA** - 991 904 - - 206 2,100 Joshua Chui, SVP Head of Sales South-East Asia** - 1,880 1,347 - - 136 3,363 Peter Heuman, former CEO - 87 - - 5 -148 -56 Board of DirectorsOdd-Harald Hauge, Chair 200 - - - - - 200 Petter Fjeldstad 500 - - - - - 500 Emine Lundkvist 200 - - - - - 200 Siri Gomn\u00e6s B\u00f8rsum 200 - - - - 200 Nomination committeeJon Frode Vaksvik, Chair 30 - - - - - 30 Haakon S\u00e6ter 20 - - - - - 20 Hans-Herman Horn 20 - - - - - 20 Total remuneration 1,170 10,181 3,760 70 186 2,535 17,900* Fair value of granted options is equal to expensed share option remuneration for the year, which is based on fair value at grant date and vesting period (see note 2 for further information).** Hired through an external company. This is the invoiced amount from the external company, which includes social security and pension benefits.Board remuneration reported above is based on paid-out amounts.CEO remuneration\ue61f Ulf Ritsvall (CEO) has a salary of SEK 2.6 million per year. In addition, he is part of the Company\u2019s option plan and the bonus program, which provides annual bonuses based upon the achievement of performance objectives established by the company. Further, the CEO is entitled to a pension benefit of 15% of annual base salary. Ulf Ritsvall was awarded a bonus in 2025, which isexpected to be paid out in 2026. Moreover, hewas awarded a bonus for 2024 that was paid out in 2025. During 2024 and 2025, the company also paid pension benefits as salary, which is reported under salary in the tables above. Severance Ulf Ritsvall (CEO) has a severance agreement whereby he will receive 100% pay for 6 months for termination by the Company without cause.Loans and guarantees for senior executivesThe Company has not made any advance payments or issued loans to, or guarantees in favor of, any senior executives or members of the board as per 31 December 2025.Share based remunerationShare-based payments are equity-settled share options granted to employees, contractors and members of the board of directors. The options are charged against the income statements at their fair value over the vesting period, with a corresponding increase in equity. The fair value of share-based options is determined using the Black-Scholes option-pricing model. The social security contribution payable in connection with the exercise of the share options is accrued on a straight-line basis as current liabilities, based on the intrinsic value of the share options at the end of each accounting period with consequent charges to the payroll expenses. Share-based remuneration and option social security costs related to employees and members of the board are charged as payroll expenses, while costs related to contractors are charged as other operating expenses.Salary, pension and any bonuses will attract employer\u2019s tax, which will be expensed simultaneously with the remuneration. The notional cost of options as share-based remuneration is expensed, but the equity effect is nil because the contra item is a notional equity injection of equal amount. In addition, employer\u2019s tax is accrued on the intrinsic value of the option on the balance sheet date.For the shareholders, a possible exercise of share options will represent a dilution. At the end of 2025, the number of outstanding options to senior executives amounted to 11,675,000 corresponding to 9.7% of the share capital. At the end of 2024, the number of outstanding options to senior executives amounted to 8,085,000 corresponding to 7.0% of the share capital.For further details regarding share-based remuneration, see note 19.Accumulated Expired/ Average Accumulated Average quantity Granted adjusted Exercised exercise quantity options exercise 2025options OBoptions optionsoptionsprice - ACBprice - BSenior ExecutivesUlf Ritsvall, CEO 4,125,000 1,000,000 - - - 5,125,000 5.75Eirik Underthun, CFO 1,450,000 - 1,450,000 5.54Marcus Lauren, CPO 225,000 500,000 - - - 725,000 4.63Digvijay Singh Kanwar, SVP Head of Sales IUEA 350,000 300,000 - - - 650,000 4.98Joshua Chui, SVP Head of Sales South-East Asia 275,000 150,000 - - - 425,000 6.03Board of DirectorsHans Henrik Klouman, Chair - 1,000,000 - - - 1,000,000 5.16Roy Tselentis, Deputy Chair - 500,000 - - - 500,000 4.84Emine Lundkvist 230,000 - -30,000 - - 200,000 2.49Siri Gomn\u00e6s B\u00f8rsum 200,000 - - - - 200,000 4.89Tove Giske - 200,000 200,000 5.16Odd-Harald Hauge, former Chair 200,000 - - - - 200,000 2.49Petter Fjellstad, former Board member 1,030,000 - -30,000 - - 1,000,000 2.49Total 8,085,000 3,650,000 -60,000 - 11,675,000OPTIONS \ue61e SHARE BASED REMUNERATIONAccumulated Expired/ Average Accumulated Average quantity Granted adjusted Exercised exercise quantity options exercise price 2024options OBoptions optionsoptionsprice - ACB- BSenior ExecutivesUlf Ritsvall, CEO 2,725,000 1,400,000 - - - 4,125,000 6.30Eirik Underthun, CFO 1,750,000 50,000 - -350,000 2.49 1,450,000 5.54Marcus Lauren, CPO 75,000 150,000 - - - 225,000 7.39Digvijay Singh Kanwar, SVP Head of Sales IUEA 200,000 150,000 - - - 350,000 6.35Joshua Chui, SVP Head of Sales South-East Asia 75,000 200,000 - - - 275,000 7.4 8Peter Heuman, former CEO 5,020,000 - -300,000 -4,720,000 3.99 - - Board of DirectorsOdd-Harald Hauge, Chair 200,000 - - - - 200,000 2.49Petter Fjellstad 1,030,000 - - - - 1,030,000 2.66Emine Lundkvist 230,000 - - - - 230,000 3.27Siri Gomn\u00e6s B\u00f8rsum 200,000 - - - - 200,000 4.89Total 11,505,000 1,950,000 -300,000 -5,070,000 8,085,000A - Average exercise price for options exercised during the financial year (amounts in NOK)B - Average exercise price for quantity of options by the end of the financial year (amounts in NOK)", "dimensions": { "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__40-1": { "value": "NOTE 4 Payroll expenses(amounts in NOK 1,000) 2025 2024Salaries, fees -28,170 -26,169Share based remuneration (salary part) -4,232 -2,776Share based remuneration (employer's tax) 1,880 1,637Social security taxes -3,924 -3,600Pension contribution -1,142 -652Other personnel expenses -759 -1,231Total payroll expenses -36,346 -32,791Average numbers of employees 25 23The cost for share based remuneration (employer's tax) was negative NOK 1.9 million in 2025 compared to a negative cost of NOK 1.6 million in 2024. The negative cost in 2025 is due to reduction in the liability for share option social security tax mainly triggered by a reduction in the Group's stock price price and lowered social security cost for future periods from 19.1% to 14.1%. Please refer to note 19 for further information on the Group's option program.The Group employed an average number of employees of 25. In addition, the company had 21 contractors who were working for the company on a part time or full time basis by year end.The parent company, NEXT Biometrics Group ASA, provides a contribution-based pension insurance scheme for all employees. The scheme satisfies the mandatory service pension (\u2018OTP\u2019) in Norway. NEXT Biometrics Inc has a 401-K plan for its employees, which allows employees to save for retirement with pre-tax funds. The company currently does not contribute to this plan but pays for its administration. NEXT Biometrics Taiwan Ltd offers an employee pension plan with an annual contribution of 6% of the salary, but capped at TWD 9,000 per month per employee (NOK 3,100 per month). NEXT Biometrics China Ltd and NEXT Biometrics Solutions Pvt Ltd have no local pension plans.Termination benefits\ue61f Termination benefits are payable when the employment is terminated by the Group before the normal retirement date or when an employee accepts voluntary redundancy in exchange for these benefits. The Group recognizes termination benefits when the Group can no longer withdraw the offer.NOTE 20 Remuneration key personnel and audit feesACTUAL REMUNERATION \ue61e SENIOR EXECUTIVESBoard Fair value Total 2025 (amounts in NOK 1,000)remuneration Salary Bonus Other benefits Pension costgranted options *remunerationSenior ExecutivesUlf Ritsvall, CEO - 3,160 330 57 - 2,409 5,956 Eirik Underthun, CFO - 2,124 - 6 173 260 2,563 Marcus Lauren, CPO** - 2,880 - - - 208 3,088 Digvijay Singh Kanwar, SVP Head of Sales IUEA** - 972 -519 - - 258 710 Joshua Chui, SVP Head of Sales South-East Asia** - 1,819 -1,341 - - 219 697 Board of DirectorsHans Henrik Klouman, Chair - - - - - 426 426 Roy Tselentis, Deputy Chair - - - - - 104 104 Tove Giske - - - - - - - Siri Gomn\u00e6s B\u00f8rsum 200 - - - - 55 255 Emine Lundkvist 200 - - - - 85 285 Odd-Harald Hauge, former Chair 500 - - - - - 500 Petter Fjellstad, former Board member 200 - - - - - 200 Nomination committeeHans-Herman Horn, Chair 20 - - - - - 20 Haakon S\u00e6ter 20 - - - - - 20 Andreas Berdal Lorentzen - - - - - - - Jon Frode Vaksvik, former Chair 30 - - - - - 30 Total remuneration 1,170 10,955 -1,530 63 173 4,025 14,856Board Fair value granted Total 2024 (amounts in NOK 1,000)remuneration Salary Bonus Other benefits Pension costoptions *remunerationSenior ExecutivesUlf Ritsvall, CEO - 2,960 1,509 65 - 1,939 6,472 Eirik Underthun, CFO - 2,010 - 5 181 291 2,487 Marcus Lauren, CPO** - 2,253 - - - 111 2,364 Digvijay Singh Kanwar, SVP Head of Sales IUEA** - 991 904 - - 206 2,100 Joshua Chui, SVP Head of Sales South-East Asia** - 1,880 1,347 - - 136 3,363 Peter Heuman, former CEO - 87 - - 5 -148 -56 Board of DirectorsOdd-Harald Hauge, Chair 200 - - - - - 200 Petter Fjeldstad 500 - - - - - 500 Emine Lundkvist 200 - - - - - 200 Siri Gomn\u00e6s B\u00f8rsum 200 - - - - 200 Nomination committeeJon Frode Vaksvik, Chair 30 - - - - - 30 Haakon S\u00e6ter 20 - - - - - 20 Hans-Herman Horn 20 - - - - - 20 Total remuneration 1,170 10,181 3,760 70 186 2,535 17,900* Fair value of granted options is equal to expensed share option remuneration for the year, which is based on fair value at grant date and vesting period (see note 2 for further information).** Hired through an external company. This is the invoiced amount from the external company, which includes social security and pension benefits.Board remuneration reported above is based on paid-out amounts.CEO remuneration\ue61f Ulf Ritsvall (CEO) has a salary of SEK 2.6 million per year. In addition, he is part of the Company\u2019s option plan and the bonus program, which provides annual bonuses based upon the achievement of performance objectives established by the company. Further, the CEO is entitled to a pension benefit of 15% of annual base salary. Ulf Ritsvall was awarded a bonus in 2025, which isexpected to be paid out in 2026. Moreover, hewas awarded a bonus for 2024 that was paid out in 2025. During 2024 and 2025, the company also paid pension benefits as salary, which is reported under salary in the tables above. Severance Ulf Ritsvall (CEO) has a severance agreement whereby he will receive 100% pay for 6 months for termination by the Company without cause.Loans and guarantees for senior executivesThe Company has not made any advance payments or issued loans to, or guarantees in favor of, any senior executives or members of the board as per 31 December 2025.Share based remunerationShare-based payments are equity-settled share options granted to employees, contractors and members of the board of directors. The options are charged against the income statements at their fair value over the vesting period, with a corresponding increase in equity. The fair value of share-based options is determined using the Black-Scholes option-pricing model. The social security contribution payable in connection with the exercise of the share options is accrued on a straight-line basis as current liabilities, based on the intrinsic value of the share options at the end of each accounting period with consequent charges to the payroll expenses. Share-based remuneration and option social security costs related to employees and members of the board are charged as payroll expenses, while costs related to contractors are charged as other operating expenses.Salary, pension and any bonuses will attract employer\u2019s tax, which will be expensed simultaneously with the remuneration. The notional cost of options as share-based remuneration is expensed, but the equity effect is nil because the contra item is a notional equity injection of equal amount. In addition, employer\u2019s tax is accrued on the intrinsic value of the option on the balance sheet date.For the shareholders, a possible exercise of share options will represent a dilution. At the end of 2025, the number of outstanding options to senior executives amounted to 11,675,000 corresponding to 9.7% of the share capital. At the end of 2024, the number of outstanding options to senior executives amounted to 8,085,000 corresponding to 7.0% of the share capital.For further details regarding share-based remuneration, see note 19.Accumulated Expired/ Average Accumulated Average quantity Granted adjusted Exercised exercise quantity options exercise 2025options OBoptions optionsoptionsprice - ACBprice - BSenior ExecutivesUlf Ritsvall, CEO 4,125,000 1,000,000 - - - 5,125,000 5.75Eirik Underthun, CFO 1,450,000 - 1,450,000 5.54Marcus Lauren, CPO 225,000 500,000 - - - 725,000 4.63Digvijay Singh Kanwar, SVP Head of Sales IUEA 350,000 300,000 - - - 650,000 4.98Joshua Chui, SVP Head of Sales South-East Asia 275,000 150,000 - - - 425,000 6.03Board of DirectorsHans Henrik Klouman, Chair - 1,000,000 - - - 1,000,000 5.16Roy Tselentis, Deputy Chair - 500,000 - - - 500,000 4.84Emine Lundkvist 230,000 - -30,000 - - 200,000 2.49Siri Gomn\u00e6s B\u00f8rsum 200,000 - - - - 200,000 4.89Tove Giske - 200,000 200,000 5.16Odd-Harald Hauge, former Chair 200,000 - - - - 200,000 2.49Petter Fjellstad, former Board member 1,030,000 - -30,000 - - 1,000,000 2.49Total 8,085,000 3,650,000 -60,000 - 11,675,000OPTIONS \ue61e SHARE BASED REMUNERATIONAccumulated Expired/ Average Accumulated Average quantity Granted adjusted Exercised exercise quantity options exercise price 2024options OBoptions optionsoptionsprice - ACB- BSenior ExecutivesUlf Ritsvall, CEO 2,725,000 1,400,000 - - - 4,125,000 6.30Eirik Underthun, CFO 1,750,000 50,000 - -350,000 2.49 1,450,000 5.54Marcus Lauren, CPO 75,000 150,000 - - - 225,000 7.39Digvijay Singh Kanwar, SVP Head of Sales IUEA 200,000 150,000 - - - 350,000 6.35Joshua Chui, SVP Head of Sales South-East Asia 75,000 200,000 - - - 275,000 7.4 8Peter Heuman, former CEO 5,020,000 - -300,000 -4,720,000 3.99 - - Board of DirectorsOdd-Harald Hauge, Chair 200,000 - - - - 200,000 2.49Petter Fjellstad 1,030,000 - - - - 1,030,000 2.66Emine Lundkvist 230,000 - - - - 230,000 3.27Siri Gomn\u00e6s B\u00f8rsum 200,000 - - - - 200,000 4.89Total 11,505,000 1,950,000 -300,000 -5,070,000 8,085,000A - Average exercise price for options exercised during the financial year (amounts in NOK)B - Average exercise price for quantity of options by the end of the financial year (amounts in NOK)", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__42": { "value": "Termination benefits\ue61f Termination benefits are payable when the employment is terminated by the Group before the normal retirement date or when an employee accepts voluntary redundancy in exchange for these benefits. The Group recognizes termination benefits when the Group can no longer withdraw the offer.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTerminationBenefits", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__50": { "value": "NOTE 5 Other operating expensesRestated(amounts in NOK 1,000) 2025 2024Product and marketing costs -7,320 -8,131Business services costs -16,235 -18,084R&D costs -2,783 -4,1731R&D and government grants1,699 1,8482Fees to contractors, auditors, lawyers and others-10,945 -5,382Allowance for expected credit loss -16 983 Other expenses-3,205 -6,3714Share based remuneration (operating part)-625 -452Total other operating expenses -39,430 -40,647The Group's business service costs decreased from NOK 18.1 million in 2024 to NOK 16.2 million in 2025 mainly due to lower sales incentive bonuses.The Group's R&D costs decreased mainly due to capitalization of project expenses.As communicated throughout 2025, the Board of Directors initiated an external investigation of the irregularities in China and have carried out a comprehensive review of historical reported revenues and our internal controls. We have also incurred additional litigation costs. This has caused significantly higher fees from auditors, lawyers and other service providers in 2025 compared to 2024.1) R&D grants and other government grants are related to Skattefunn and Forregion grants in 2024/2025.2) Fees to contractors, auditors, lawyers refers to amounts paid the company's contractors and service providers who are working for the company on a part time or full time basis.3) Other expenses include software expenses, IT cost, insurance fees, non deductable VAT and stock exchange related fees.4) Share based remuneration (operating part) refers to share options granted to contractors (see note 18 for further information).Restated other operating expensesA reconciliation of previously reported figures to the restated amounts is presented in the table below.As previously reported Adjustments Restated(amounts in NOK 1,000) 2024 2024 2024Product and marketing costs -6,795 -1,336 -8,1311Sales and marketing incentive fees-3,631 3,631 -Business services costs -18,084 -18,084R&D costs -4,173 -4,173R&D and government grants 1,848 1,848Fees to contractors, auditors, lawyers and others -5,382 -5,3822Allowance for expected credit loss-7,315 7,41 3 983Other expenses-3,057 -3,314 -6,371Share based remuneration (operating part) -452 -452Total other operating expenses -47,041 -40,647Explanation of adjustments: 1) Reversed sales and marketing fees in relation to partner in China (see note 26 for more information)2) Reduction of allowance of expected credit loss as a consequence of restatements (reversal of revenue and related account receivables) 3) Booked valuation allowance for prepaid VAT for sales domestically in China in connection with restatements (see note 26 for more information)", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__49": { "value": "NOTE 5 Other operating expensesRestated(amounts in NOK 1,000) 2025 2024Product and marketing costs -7,320 -8,131Business services costs -16,235 -18,084R&D costs -2,783 -4,1731R&D and government grants1,699 1,8482Fees to contractors, auditors, lawyers and others-10,945 -5,382Allowance for expected credit loss -16 983 Other expenses-3,205 -6,3714Share based remuneration (operating part)-625 -452Total other operating expenses -39,430 -40,647The Group's business service costs decreased from NOK 18.1 million in 2024 to NOK 16.2 million in 2025 mainly due to lower sales incentive bonuses.The Group's R&D costs decreased mainly due to capitalization of project expenses.As communicated throughout 2025, the Board of Directors initiated an external investigation of the irregularities in China and have carried out a comprehensive review of historical reported revenues and our internal controls. We have also incurred additional litigation costs. This has caused significantly higher fees from auditors, lawyers and other service providers in 2025 compared to 2024.1) R&D grants and other government grants are related to Skattefunn and Forregion grants in 2024/2025.2) Fees to contractors, auditors, lawyers refers to amounts paid the company's contractors and service providers who are working for the company on a part time or full time basis.3) Other expenses include software expenses, IT cost, insurance fees, non deductable VAT and stock exchange related fees.4) Share based remuneration (operating part) refers to share options granted to contractors (see note 18 for further information).Restated other operating expensesA reconciliation of previously reported figures to the restated amounts is presented in the table below.As previously reported Adjustments Restated(amounts in NOK 1,000) 2024 2024 2024Product and marketing costs -6,795 -1,336 -8,1311Sales and marketing incentive fees-3,631 3,631 -Business services costs -18,084 -18,084R&D costs -4,173 -4,173R&D and government grants 1,848 1,848Fees to contractors, auditors, lawyers and others -5,382 -5,3822Allowance for expected credit loss-7,315 7,41 3 983Other expenses-3,057 -3,314 -6,371Share based remuneration (operating part) -452 -452Total other operating expenses -47,041 -40,647Explanation of adjustments: 1) Reversed sales and marketing fees in relation to partner in China (see note 26 for more information)2) Reduction of allowance of expected credit loss as a consequence of restatements (reversal of revenue and related account receivables) 3) Booked valuation allowance for prepaid VAT for sales domestically in China in connection with restatements (see note 26 for more information)", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__48": { "value": "NOTE 5 Other operating expensesRestated(amounts in NOK 1,000) 2025 2024Product and marketing costs -7,320 -8,131Business services costs -16,235 -18,084R&D costs -2,783 -4,1731R&D and government grants1,699 1,8482Fees to contractors, auditors, lawyers and others-10,945 -5,382Allowance for expected credit loss -16 983 Other expenses-3,205 -6,3714Share based remuneration (operating part)-625 -452Total other operating expenses -39,430 -40,647The Group's business service costs decreased from NOK 18.1 million in 2024 to NOK 16.2 million in 2025 mainly due to lower sales incentive bonuses.The Group's R&D costs decreased mainly due to capitalization of project expenses.As communicated throughout 2025, the Board of Directors initiated an external investigation of the irregularities in China and have carried out a comprehensive review of historical reported revenues and our internal controls. We have also incurred additional litigation costs. This has caused significantly higher fees from auditors, lawyers and other service providers in 2025 compared to 2024.1) R&D grants and other government grants are related to Skattefunn and Forregion grants in 2024/2025.2) Fees to contractors, auditors, lawyers refers to amounts paid the company's contractors and service providers who are working for the company on a part time or full time basis.3) Other expenses include software expenses, IT cost, insurance fees, non deductable VAT and stock exchange related fees.4) Share based remuneration (operating part) refers to share options granted to contractors (see note 18 for further information).Restated other operating expensesA reconciliation of previously reported figures to the restated amounts is presented in the table below.As previously reported Adjustments Restated(amounts in NOK 1,000) 2024 2024 2024Product and marketing costs -6,795 -1,336 -8,1311Sales and marketing incentive fees-3,631 3,631 -Business services costs -18,084 -18,084R&D costs -4,173 -4,173R&D and government grants 1,848 1,848Fees to contractors, auditors, lawyers and others -5,382 -5,3822Allowance for expected credit loss-7,315 7,41 3 983Other expenses-3,057 -3,314 -6,371Share based remuneration (operating part) -452 -452Total other operating expenses -47,041 -40,647Explanation of adjustments: 1) Reversed sales and marketing fees in relation to partner in China (see note 26 for more information)2) Reduction of allowance of expected credit loss as a consequence of restatements (reversal of revenue and related account receivables) 3) Booked valuation allowance for prepaid VAT for sales domestically in China in connection with restatements (see note 26 for more information)", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__47-1": { "value": "NOTE 5 Other operating expensesRestated(amounts in NOK 1,000) 2025 2024Product and marketing costs -7,320 -8,131Business services costs -16,235 -18,084R&D costs -2,783 -4,1731R&D and government grants1,699 1,8482Fees to contractors, auditors, lawyers and others-10,945 -5,382Allowance for expected credit loss -16 983 Other expenses-3,205 -6,3714Share based remuneration (operating part)-625 -452Total other operating expenses -39,430 -40,647The Group's business service costs decreased from NOK 18.1 million in 2024 to NOK 16.2 million in 2025 mainly due to lower sales incentive bonuses.The Group's R&D costs decreased mainly due to capitalization of project expenses.As communicated throughout 2025, the Board of Directors initiated an external investigation of the irregularities in China and have carried out a comprehensive review of historical reported revenues and our internal controls. We have also incurred additional litigation costs. This has caused significantly higher fees from auditors, lawyers and other service providers in 2025 compared to 2024.1) R&D grants and other government grants are related to Skattefunn and Forregion grants in 2024/2025.2) Fees to contractors, auditors, lawyers refers to amounts paid the company's contractors and service providers who are working for the company on a part time or full time basis.3) Other expenses include software expenses, IT cost, insurance fees, non deductable VAT and stock exchange related fees.4) Share based remuneration (operating part) refers to share options granted to contractors (see note 18 for further information).Restated other operating expensesA reconciliation of previously reported figures to the restated amounts is presented in the table below.As previously reported Adjustments Restated(amounts in NOK 1,000) 2024 2024 2024Product and marketing costs -6,795 -1,336 -8,1311Sales and marketing incentive fees-3,631 3,631 -Business services costs -18,084 -18,084R&D costs -4,173 -4,173R&D and government grants 1,848 1,848Fees to contractors, auditors, lawyers and others -5,382 -5,3822Allowance for expected credit loss-7,315 7,41 3 983Other expenses-3,057 -3,314 -6,371Share based remuneration (operating part) -452 -452Total other operating expenses -47,041 -40,647Explanation of adjustments: 1) Reversed sales and marketing fees in relation to partner in China (see note 26 for more information)2) Reduction of allowance of expected credit loss as a consequence of restatements (reversal of revenue and related account receivables) 3) Booked valuation allowance for prepaid VAT for sales domestically in China in connection with restatements (see note 26 for more information)NOTE 6 Research and development costCost related to research and development is only recognized on projects we are confident will amount to either a new product or a substantially improved existing product. In general, research costs are expensed when incurred. Research expenditures is only capitalized when research and development cost can be measured reliably and confidently. Capitalized research and development was NOK 2.2 million. Please refer to note 10 for further details. The reported research and development (R&D) costs includes external project costs for work and material purchased from various companies and institutions. The payroll cost of R&D staff is included in payroll. The major parts of the R&D costs are related to development and substantial improvement of the sensor technology as well as production trials and pilot production of new sensor modules.Expensed R&D costs for the Group amounted to NOK 9.4 million in 2025 (2024: NOK 10.7 million), of which NOK 6.6 million (2024: NOK 6.5 million) is presented in payroll expenses and NOK 2.8 million (2024: NOK 4.2 million) in other operating expenses.Government grantsGovernment grants are recognized when there is reasonable assurance that the grant will be received, and all attaching conditions will be complied with. When the grant relates to an expense item, it is recognized as a reduction in expense. When the grant can be viewed as payment for a deliverable or performance of service, it is recognized as other revenue.The subsidiary NEXT Biometrics AS' estimated R&D public grant in connection with SkatteFUNN (Norwegian Government tax deduction for research and development in the innovative business sector) for 2025 is NOK 1.5 million (2024: NOK 1.8 million). The total amount is presented as part of \"Other current assets\" in the balance sheet and has correspondingly led to a reduction in other operating expenses. The grant is subject to final approval by the tax authorities. In addition to SkatteFUNN, the Group was granted a public grant in connection with FORREGION (FORREGION Oslo aims to strengthen research-based innovation in the business sector and in the municipality\u2019s own operations) amounting to NOK 0.5 million of which NOK 0.2 million was recognized in 2025.", "dimensions": { "concept": "ifrs-full:DisclosureOfResearchAndDevelopmentExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__46": { "value": "NOTE 5 Other operating expensesRestated(amounts in NOK 1,000) 2025 2024Product and marketing costs -7,320 -8,131Business services costs -16,235 -18,084R&D costs -2,783 -4,1731R&D and government grants1,699 1,8482Fees to contractors, auditors, lawyers and others-10,945 -5,382Allowance for expected credit loss -16 983 Other expenses-3,205 -6,3714Share based remuneration (operating part)-625 -452Total other operating expenses -39,430 -40,647The Group's business service costs decreased from NOK 18.1 million in 2024 to NOK 16.2 million in 2025 mainly due to lower sales incentive bonuses.The Group's R&D costs decreased mainly due to capitalization of project expenses.As communicated throughout 2025, the Board of Directors initiated an external investigation of the irregularities in China and have carried out a comprehensive review of historical reported revenues and our internal controls. We have also incurred additional litigation costs. This has caused significantly higher fees from auditors, lawyers and other service providers in 2025 compared to 2024.1) R&D grants and other government grants are related to Skattefunn and Forregion grants in 2024/2025.2) Fees to contractors, auditors, lawyers refers to amounts paid the company's contractors and service providers who are working for the company on a part time or full time basis.3) Other expenses include software expenses, IT cost, insurance fees, non deductable VAT and stock exchange related fees.4) Share based remuneration (operating part) refers to share options granted to contractors (see note 18 for further information).Restated other operating expensesA reconciliation of previously reported figures to the restated amounts is presented in the table below.As previously reported Adjustments Restated(amounts in NOK 1,000) 2024 2024 2024Product and marketing costs -6,795 -1,336 -8,1311Sales and marketing incentive fees-3,631 3,631 -Business services costs -18,084 -18,084R&D costs -4,173 -4,173R&D and government grants 1,848 1,848Fees to contractors, auditors, lawyers and others -5,382 -5,3822Allowance for expected credit loss-7,315 7,41 3 983Other expenses-3,057 -3,314 -6,371Share based remuneration (operating part) -452 -452Total other operating expenses -47,041 -40,647Explanation of adjustments: 1) Reversed sales and marketing fees in relation to partner in China (see note 26 for more information)2) Reduction of allowance of expected credit loss as a consequence of restatements (reversal of revenue and related account receivables) 3) Booked valuation allowance for prepaid VAT for sales domestically in China in connection with restatements (see note 26 for more information)", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__45-1": { "value": "NOTE 5 Other operating expensesRestated(amounts in NOK 1,000) 2025 2024Product and marketing costs -7,320 -8,131Business services costs -16,235 -18,084R&D costs -2,783 -4,1731R&D and government grants1,699 1,8482Fees to contractors, auditors, lawyers and others-10,945 -5,382Allowance for expected credit loss -16 983 Other expenses-3,205 -6,3714Share based remuneration (operating part)-625 -452Total other operating expenses -39,430 -40,647The Group's business service costs decreased from NOK 18.1 million in 2024 to NOK 16.2 million in 2025 mainly due to lower sales incentive bonuses.The Group's R&D costs decreased mainly due to capitalization of project expenses.As communicated throughout 2025, the Board of Directors initiated an external investigation of the irregularities in China and have carried out a comprehensive review of historical reported revenues and our internal controls. We have also incurred additional litigation costs. This has caused significantly higher fees from auditors, lawyers and other service providers in 2025 compared to 2024.1) R&D grants and other government grants are related to Skattefunn and Forregion grants in 2024/2025.2) Fees to contractors, auditors, lawyers refers to amounts paid the company's contractors and service providers who are working for the company on a part time or full time basis.3) Other expenses include software expenses, IT cost, insurance fees, non deductable VAT and stock exchange related fees.4) Share based remuneration (operating part) refers to share options granted to contractors (see note 18 for further information).Restated other operating expensesA reconciliation of previously reported figures to the restated amounts is presented in the table below.As previously reported Adjustments Restated(amounts in NOK 1,000) 2024 2024 2024Product and marketing costs -6,795 -1,336 -8,1311Sales and marketing incentive fees-3,631 3,631 -Business services costs -18,084 -18,084R&D costs -4,173 -4,173R&D and government grants 1,848 1,848Fees to contractors, auditors, lawyers and others -5,382 -5,3822Allowance for expected credit loss-7,315 7,41 3 983Other expenses-3,057 -3,314 -6,371Share based remuneration (operating part) -452 -452Total other operating expenses -47,041 -40,647Explanation of adjustments: 1) Reversed sales and marketing fees in relation to partner in China (see note 26 for more information)2) Reduction of allowance of expected credit loss as a consequence of restatements (reversal of revenue and related account receivables) 3) Booked valuation allowance for prepaid VAT for sales domestically in China in connection with restatements (see note 26 for more information)NOTE 6 Research and development costCost related to research and development is only recognized on projects we are confident will amount to either a new product or a substantially improved existing product. In general, research costs are expensed when incurred. Research expenditures is only capitalized when research and development cost can be measured reliably and confidently. Capitalized research and development was NOK 2.2 million. Please refer to note 10 for further details. The reported research and development (R&D) costs includes external project costs for work and material purchased from various companies and institutions. The payroll cost of R&D staff is included in payroll. The major parts of the R&D costs are related to development and substantial improvement of the sensor technology as well as production trials and pilot production of new sensor modules.Expensed R&D costs for the Group amounted to NOK 9.4 million in 2025 (2024: NOK 10.7 million), of which NOK 6.6 million (2024: NOK 6.5 million) is presented in payroll expenses and NOK 2.8 million (2024: NOK 4.2 million) in other operating expenses.Government grantsGovernment grants are recognized when there is reasonable assurance that the grant will be received, and all attaching conditions will be complied with. When the grant relates to an expense item, it is recognized as a reduction in expense. When the grant can be viewed as payment for a deliverable or performance of service, it is recognized as other revenue.The subsidiary NEXT Biometrics AS' estimated R&D public grant in connection with SkatteFUNN (Norwegian Government tax deduction for research and development in the innovative business sector) for 2025 is NOK 1.5 million (2024: NOK 1.8 million). The total amount is presented as part of \"Other current assets\" in the balance sheet and has correspondingly led to a reduction in other operating expenses. The grant is subject to final approval by the tax authorities. In addition to SkatteFUNN, the Group was granted a public grant in connection with FORREGION (FORREGION Oslo aims to strengthen research-based innovation in the business sector and in the municipality\u2019s own operations) amounting to NOK 0.5 million of which NOK 0.2 million was recognized in 2025.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__44-1": { "value": "NOTE 5 Other operating expensesRestated(amounts in NOK 1,000) 2025 2024Product and marketing costs -7,320 -8,131Business services costs -16,235 -18,084R&D costs -2,783 -4,1731R&D and government grants1,699 1,8482Fees to contractors, auditors, lawyers and others-10,945 -5,382Allowance for expected credit loss -16 983 Other expenses-3,205 -6,3714Share based remuneration (operating part)-625 -452Total other operating expenses -39,430 -40,647The Group's business service costs decreased from NOK 18.1 million in 2024 to NOK 16.2 million in 2025 mainly due to lower sales incentive bonuses.The Group's R&D costs decreased mainly due to capitalization of project expenses.As communicated throughout 2025, the Board of Directors initiated an external investigation of the irregularities in China and have carried out a comprehensive review of historical reported revenues and our internal controls. We have also incurred additional litigation costs. This has caused significantly higher fees from auditors, lawyers and other service providers in 2025 compared to 2024.1) R&D grants and other government grants are related to Skattefunn and Forregion grants in 2024/2025.2) Fees to contractors, auditors, lawyers refers to amounts paid the company's contractors and service providers who are working for the company on a part time or full time basis.3) Other expenses include software expenses, IT cost, insurance fees, non deductable VAT and stock exchange related fees.4) Share based remuneration (operating part) refers to share options granted to contractors (see note 18 for further information).Restated other operating expensesA reconciliation of previously reported figures to the restated amounts is presented in the table below.As previously reported Adjustments Restated(amounts in NOK 1,000) 2024 2024 2024Product and marketing costs -6,795 -1,336 -8,1311Sales and marketing incentive fees-3,631 3,631 -Business services costs -18,084 -18,084R&D costs -4,173 -4,173R&D and government grants 1,848 1,848Fees to contractors, auditors, lawyers and others -5,382 -5,3822Allowance for expected credit loss-7,315 7,41 3 983Other expenses-3,057 -3,314 -6,371Share based remuneration (operating part) -452 -452Total other operating expenses -47,041 -40,647Explanation of adjustments: 1) Reversed sales and marketing fees in relation to partner in China (see note 26 for more information)2) Reduction of allowance of expected credit loss as a consequence of restatements (reversal of revenue and related account receivables) 3) Booked valuation allowance for prepaid VAT for sales domestically in China in connection with restatements (see note 26 for more information)The subsidiary NEXT Biometrics AS' estimated R&D public grant in connection with SkatteFUNN (Norwegian Government tax deduction for research and development in the innovative business sector) for 2025 is NOK 1.5 million (2024: NOK 1.8 million). The total amount is presented as part of \"Other current assets\" in the balance sheet and has correspondingly led to a reduction in other operating expenses. The grant is subject to final approval by the tax authorities. In addition to SkatteFUNN, the Group was granted a public grant in connection with FORREGION (FORREGION Oslo aims to strengthen research-based innovation in the business sector and in the municipality\u2019s own operations) amounting to NOK 0.5 million of which NOK 0.2 million was recognized in 2025.", "dimensions": { "concept": "ifrs-full:DisclosureOfGovernmentGrantsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__55": { "value": "Government grantsGovernment grants are recognized when there is reasonable assurance that the grant will be received, and all attaching conditions will be complied with. When the grant relates to an expense item, it is recognized as a reduction in expense. When the grant can be viewed as payment for a deliverable or performance of service, it is recognized as other revenue.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGovernmentGrants", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__51": { "value": "The subsidiary NEXT Biometrics AS' estimated R&D public grant in connection with SkatteFUNN (Norwegian Government tax deduction for research and development in the innovative business sector) for 2025 is NOK 1.5 million (2024: NOK 1.8 million). The total amount is presented as part of \"Other current assets\" in the balance sheet and has correspondingly led to a reduction in other operating expenses. The grant is subject to final approval by the tax authorities. In addition to SkatteFUNN, the Group was granted a public grant in connection with FORREGION (FORREGION Oslo aims to strengthen research-based innovation in the business sector and in the municipality\u2019s own operations) amounting to NOK 0.5 million of which NOK 0.2 million was recognized in 2025.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__63": { "value": "NOTE 7 Financial items(amounts in 1,000 NOK) 2025 2024Interest income 562 1,400Interest income on sub-leases (see note 17) - 81 Total financial income 562 1,482Interest expenses -2 -2Interest expenses leases (see note 18) -256 -139Other financial expenses -24 22Total financial expenses -281 -119Realized currency gains (losses) -212 -273Change in unrealized currency gains (losses) 109 -59Net currency gains (losses) -103 -332Net financial items 178 1,030", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__62": { "value": "NOTE 7 Financial items(amounts in 1,000 NOK) 2025 2024Interest income 562 1,400Interest income on sub-leases (see note 17) - 81 Total financial income 562 1,482Interest expenses -2 -2Interest expenses leases (see note 18) -256 -139Other financial expenses -24 22Total financial expenses -281 -119Realized currency gains (losses) -212 -273Change in unrealized currency gains (losses) 109 -59Net currency gains (losses) -103 -332Net financial items 178 1,030", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__61": { "value": "NOTE 7 Financial items(amounts in 1,000 NOK) 2025 2024Interest income 562 1,400Interest income on sub-leases (see note 17) - 81 Total financial income 562 1,482Interest expenses -2 -2Interest expenses leases (see note 18) -256 -139Other financial expenses -24 22Total financial expenses -281 -119Realized currency gains (losses) -212 -273Change in unrealized currency gains (losses) 109 -59Net currency gains (losses) -103 -332Net financial items 178 1,030", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__60": { "value": "NOTE 7 Financial items(amounts in 1,000 NOK) 2025 2024Interest income 562 1,400Interest income on sub-leases (see note 17) - 81 Total financial income 562 1,482Interest expenses -2 -2Interest expenses leases (see note 18) -256 -139Other financial expenses -24 22Total financial expenses -281 -119Realized currency gains (losses) -212 -273Change in unrealized currency gains (losses) 109 -59Net currency gains (losses) -103 -332Net financial items 178 1,030", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__59": { "value": "NOTE 7 Financial items(amounts in 1,000 NOK) 2025 2024Interest income 562 1,400Interest income on sub-leases (see note 17) - 81 Total financial income 562 1,482Interest expenses -2 -2Interest expenses leases (see note 18) -256 -139Other financial expenses -24 22Total financial expenses -281 -119Realized currency gains (losses) -212 -273Change in unrealized currency gains (losses) 109 -59Net currency gains (losses) -103 -332Net financial items 178 1,030", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__58": { "value": "NOTE 7 Financial items(amounts in 1,000 NOK) 2025 2024Interest income 562 1,400Interest income on sub-leases (see note 17) - 81 Total financial income 562 1,482Interest expenses -2 -2Interest expenses leases (see note 18) -256 -139Other financial expenses -24 22Total financial expenses -281 -119Realized currency gains (losses) -212 -273Change in unrealized currency gains (losses) 109 -59Net currency gains (losses) -103 -332Net financial items 178 1,030", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__57-1": { "value": "NOTE 7 Financial items(amounts in 1,000 NOK) 2025 2024Interest income 562 1,400Interest income on sub-leases (see note 17) - 81 Total financial income 562 1,482Interest expenses -2 -2Interest expenses leases (see note 18) -256 -139Other financial expenses -24 22Total financial expenses -281 -119Realized currency gains (losses) -212 -273Change in unrealized currency gains (losses) 109 -59Net currency gains (losses) -103 -332Net financial items 178 1,030 (amounts in NOK 1,000) 2025 2024Depreciation property right-of-use assets (included in \"Depreciation and amortization\") -2,072 -2,108Interest income (included in \"Financial income\") - 81Interest expenses (included in \"Financial expenses\") -256 -139Net expenses related to leases -2,327 -2,166", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__56": { "value": "NOTE 7 Financial items(amounts in 1,000 NOK) 2025 2024Interest income 562 1,400Interest income on sub-leases (see note 17) - 81 Total financial income 562 1,482Interest expenses -2 -2Interest expenses leases (see note 18) -256 -139Other financial expenses -24 22Total financial expenses -281 -119Realized currency gains (losses) -212 -273Change in unrealized currency gains (losses) 109 -59Net currency gains (losses) -103 -332Net financial items 178 1,030", "dimensions": { "concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__64": { "value": "NOTE 8 Income taxesThe tax expense consists of the tax payable and changes in deferred tax. Deferred tax has been calculated based on the temporary differences between the recorded and tax values, as well as on any tax loss carry-forward at the balance sheet closing date. Any temporary differences increasing or reducing tax that will or may reverse in the same period, have been netted.A deferred tax asset will be recognized when it is probable that the Group will have sufficient profit for tax purposes to utilize the tax asset. At each balance sheet date, the Group reviews its unrecognized deferred tax assets and the value it has recognized. The Group recognizesan unrecognized deferred tax asset to the extent that is has become probable that the Group can utilize the deferred tax asset. Similarly, the Group will reduce its deferred tax asset to the extent that it can no longer utilize it.Deferred tax and deferred tax assets are measured on the basis of the expected future tax rates. Deferred tax assets related to losses carried forward is recognized when it is probable that the loss carried forward may be utilized. Evaluation of probability is based on historical earnings, expected future margins and the size of the order backlog. Future events may lead to these estimates being changed. Such changes will be recognized when reliable new estimates can be made. The subsidiary NEXT Biometrics AS has applied for R&D public grant funds in connection with SkatteFUNN (Norwegian Government tax deduction for research and development in the innovative business sector) in 2024 and 2025. The amount for 2025 is NOK 1.5 million. Please see note 6 and 14 for further details. (amounts in NOK 1,000) 2025 2024Current taxes (enties located in Norway) - - Current taxes (International subsidiaries*) 130 197Change in deferred taxes (International subsidiaries*) - - Total income tax expenses 130 197* Subsidiaries in Taiwan, USA, India and ChinaIncome tax expense reconciliation:(amounts in NOK 1,000) 2025 2024Profit (loss) before taxes -80,413 -74,902Expected income tax expenses at Norwegian nominal tax rate (22%) -17,691 -16,478Difference between local tax rates and Norwegian nominal tax rate -190 -336Effect of change in local tax rates - -Tax effect of permanent differences -355 -189Change in deferred tax assets not recognized 18,233 16,689Prior year underaccrual/(overaccrual) of income tax - -5Other -128 123Actual income tax expenses -130 -197Effective tax rate 0% 0%Deferred tax related to the following temporary differences:(amounts in NOK 1,000) 2025 2024Property, plant and equipment -1,927 -1,801Inventories -25,482 -17,004Accounts receivables and other assets -2,934 -2,733Lease liabilities -227 -875Other temporary differences - -1,865Tax losses carried forward -1,480,170 -1,400,726Total temporary differences and tax losses carried forward -1,510,740 -1,425,004Deferred tax related to the following temporary differences:Deferred tax assets (amounts in NOK 1,000) 2025 2024Property, plant and equipment 424 396Inventories 5,606 3,741Accounts receivables and other assets 645 601Lease liabilities 50 192Other temporary differences 1 410Tax losses carried forward 325,597 308,160Deferred tax assets not recognized -332,323 -313,500Deferred tax assets(-)/liability(+) in the balance sheet - - As of 31 December 2025, NOK 1 480 million (2024: NOK 1 401 million) of tax losses carried forward are related to the Norwegian companies with no limitations in expiry date.Due to a history of losses, deferred tax assets are not recognized.The following table illustrates the deferred tax balance recognized in the statement of financial position:(amounts in NOK 1,000) 2025 2024Deferred tax assets - - Deferred tax liabilities - - Net deferred taxes as of 31 December - -", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__65": { "value": "NOTE 8 Income taxesThe tax expense consists of the tax payable and changes in deferred tax. Deferred tax has been calculated based on the temporary differences between the recorded and tax values, as well as on any tax loss carry-forward at the balance sheet closing date. Any temporary differences increasing or reducing tax that will or may reverse in the same period, have been netted.A deferred tax asset will be recognized when it is probable that the Group will have sufficient profit for tax purposes to utilize the tax asset. At each balance sheet date, the Group reviews its unrecognized deferred tax assets and the value it has recognized. The Group recognizesan unrecognized deferred tax asset to the extent that is has become probable that the Group can utilize the deferred tax asset. Similarly, the Group will reduce its deferred tax asset to the extent that it can no longer utilize it.Deferred tax and deferred tax assets are measured on the basis of the expected future tax rates. Deferred tax assets related to losses carried forward is recognized when it is probable that the loss carried forward may be utilized. Evaluation of probability is based on historical earnings, expected future margins and the size of the order backlog. Future events may lead to these estimates being changed. Such changes will be recognized when reliable new estimates can be made. The subsidiary NEXT Biometrics AS has applied for R&D public grant funds in connection with SkatteFUNN (Norwegian Government tax deduction for research and development in the innovative business sector) in 2024 and 2025. The amount for 2025 is NOK 1.5 million. Please see note 6 and 14 for further details. (amounts in NOK 1,000) 2025 2024Current taxes (enties located in Norway) - - Current taxes (International subsidiaries*) 130 197Change in deferred taxes (International subsidiaries*) - - Total income tax expenses 130 197* Subsidiaries in Taiwan, USA, India and ChinaIncome tax expense reconciliation:(amounts in NOK 1,000) 2025 2024Profit (loss) before taxes -80,413 -74,902Expected income tax expenses at Norwegian nominal tax rate (22%) -17,691 -16,478Difference between local tax rates and Norwegian nominal tax rate -190 -336Effect of change in local tax rates - -Tax effect of permanent differences -355 -189Change in deferred tax assets not recognized 18,233 16,689Prior year underaccrual/(overaccrual) of income tax - -5Other -128 123Actual income tax expenses -130 -197Effective tax rate 0% 0%Deferred tax related to the following temporary differences:(amounts in NOK 1,000) 2025 2024Property, plant and equipment -1,927 -1,801Inventories -25,482 -17,004Accounts receivables and other assets -2,934 -2,733Lease liabilities -227 -875Other temporary differences - -1,865Tax losses carried forward -1,480,170 -1,400,726Total temporary differences and tax losses carried forward -1,510,740 -1,425,004Deferred tax related to the following temporary differences:Deferred tax assets (amounts in NOK 1,000) 2025 2024Property, plant and equipment 424 396Inventories 5,606 3,741Accounts receivables and other assets 645 601Lease liabilities 50 192Other temporary differences 1 410Tax losses carried forward 325,597 308,160Deferred tax assets not recognized -332,323 -313,500Deferred tax assets(-)/liability(+) in the balance sheet - - As of 31 December 2025, NOK 1 480 million (2024: NOK 1 401 million) of tax losses carried forward are related to the Norwegian companies with no limitations in expiry date.Due to a history of losses, deferred tax assets are not recognized.The following table illustrates the deferred tax balance recognized in the statement of financial position:(amounts in NOK 1,000) 2025 2024Deferred tax assets - - Deferred tax liabilities - - Net deferred taxes as of 31 December - -", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__66": { "value": "NOTE 8 Income taxesThe tax expense consists of the tax payable and changes in deferred tax. Deferred tax has been calculated based on the temporary differences between the recorded and tax values, as well as on any tax loss carry-forward at the balance sheet closing date. Any temporary differences increasing or reducing tax that will or may reverse in the same period, have been netted.A deferred tax asset will be recognized when it is probable that the Group will have sufficient profit for tax purposes to utilize the tax asset. At each balance sheet date, the Group reviews its unrecognized deferred tax assets and the value it has recognized. The Group recognizesan unrecognized deferred tax asset to the extent that is has become probable that the Group can utilize the deferred tax asset. Similarly, the Group will reduce its deferred tax asset to the extent that it can no longer utilize it.Deferred tax and deferred tax assets are measured on the basis of the expected future tax rates. Deferred tax assets related to losses carried forward is recognized when it is probable that the loss carried forward may be utilized. Evaluation of probability is based on historical earnings, expected future margins and the size of the order backlog. Future events may lead to these estimates being changed. Such changes will be recognized when reliable new estimates can be made. The subsidiary NEXT Biometrics AS has applied for R&D public grant funds in connection with SkatteFUNN (Norwegian Government tax deduction for research and development in the innovative business sector) in 2024 and 2025. The amount for 2025 is NOK 1.5 million. Please see note 6 and 14 for further details. (amounts in NOK 1,000) 2025 2024Current taxes (enties located in Norway) - - Current taxes (International subsidiaries*) 130 197Change in deferred taxes (International subsidiaries*) - - Total income tax expenses 130 197* Subsidiaries in Taiwan, USA, India and ChinaIncome tax expense reconciliation:(amounts in NOK 1,000) 2025 2024Profit (loss) before taxes -80,413 -74,902Expected income tax expenses at Norwegian nominal tax rate (22%) -17,691 -16,478Difference between local tax rates and Norwegian nominal tax rate -190 -336Effect of change in local tax rates - -Tax effect of permanent differences -355 -189Change in deferred tax assets not recognized 18,233 16,689Prior year underaccrual/(overaccrual) of income tax - -5Other -128 123Actual income tax expenses -130 -197Effective tax rate 0% 0%Deferred tax related to the following temporary differences:(amounts in NOK 1,000) 2025 2024Property, plant and equipment -1,927 -1,801Inventories -25,482 -17,004Accounts receivables and other assets -2,934 -2,733Lease liabilities -227 -875Other temporary differences - -1,865Tax losses carried forward -1,480,170 -1,400,726Total temporary differences and tax losses carried forward -1,510,740 -1,425,004Deferred tax related to the following temporary differences:Deferred tax assets (amounts in NOK 1,000) 2025 2024Property, plant and equipment 424 396Inventories 5,606 3,741Accounts receivables and other assets 645 601Lease liabilities 50 192Other temporary differences 1 410Tax losses carried forward 325,597 308,160Deferred tax assets not recognized -332,323 -313,500Deferred tax assets(-)/liability(+) in the balance sheet - - As of 31 December 2025, NOK 1 480 million (2024: NOK 1 401 million) of tax losses carried forward are related to the Norwegian companies with no limitations in expiry date.Due to a history of losses, deferred tax assets are not recognized.The following table illustrates the deferred tax balance recognized in the statement of financial position:(amounts in NOK 1,000) 2025 2024Deferred tax assets - - Deferred tax liabilities - - Net deferred taxes as of 31 December - -", "dimensions": { "concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__69": { "value": "The tax expense consists of the tax payable and changes in deferred tax. Deferred tax has been calculated based on the temporary differences between the recorded and tax values, as well as on any tax loss carry-forward at the balance sheet closing date. Any temporary differences increasing or reducing tax that will or may reverse in the same period, have been netted.A deferred tax asset will be recognized when it is probable that the Group will have sufficient profit for tax purposes to utilize the tax asset. At each balance sheet date, the Group reviews its unrecognized deferred tax assets and the value it has recognized. The Group recognizesan unrecognized deferred tax asset to the extent that is has become probable that the Group can utilize the deferred tax asset. Similarly, the Group will reduce its deferred tax asset to the extent that it can no longer utilize it.Deferred tax and deferred tax assets are measured on the basis of the expected future tax rates. Deferred tax assets related to losses carried forward is recognized when it is probable that the loss carried forward may be utilized. Evaluation of probability is based on historical earnings, expected future margins and the size of the order backlog. Future events may lead to these estimates being changed. Such changes will be recognized when reliable new estimates can be made.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__68": { "value": "The tax expense consists of the tax payable and changes in deferred tax. Deferred tax has been calculated based on the temporary differences between the recorded and tax values, as well as on any tax loss carry-forward at the balance sheet closing date. Any temporary differences increasing or reducing tax that will or may reverse in the same period, have been netted.A deferred tax asset will be recognized when it is probable that the Group will have sufficient profit for tax purposes to utilize the tax asset. At each balance sheet date, the Group reviews its unrecognized deferred tax assets and the value it has recognized. The Group recognizesan unrecognized deferred tax asset to the extent that is has become probable that the Group can utilize the deferred tax asset. Similarly, the Group will reduce its deferred tax asset to the extent that it can no longer utilize it.Deferred tax and deferred tax assets are measured on the basis of the expected future tax rates. Deferred tax assets related to losses carried forward is recognized when it is probable that the loss carried forward may be utilized. Evaluation of probability is based on historical earnings, expected future margins and the size of the order backlog. Future events may lead to these estimates being changed. Such changes will be recognized when reliable new estimates can be made.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__67": { "value": "The tax expense consists of the tax payable and changes in deferred tax. Deferred tax has been calculated based on the temporary differences between the recorded and tax values, as well as on any tax loss carry-forward at the balance sheet closing date. Any temporary differences increasing or reducing tax that will or may reverse in the same period, have been netted.A deferred tax asset will be recognized when it is probable that the Group will have sufficient profit for tax purposes to utilize the tax asset. At each balance sheet date, the Group reviews its unrecognized deferred tax assets and the value it has recognized. The Group recognizesan unrecognized deferred tax asset to the extent that is has become probable that the Group can utilize the deferred tax asset. Similarly, the Group will reduce its deferred tax asset to the extent that it can no longer utilize it.Deferred tax and deferred tax assets are measured on the basis of the expected future tax rates. Deferred tax assets related to losses carried forward is recognized when it is probable that the loss carried forward may be utilized. Evaluation of probability is based on historical earnings, expected future margins and the size of the order backlog. Future events may lead to these estimates being changed. Such changes will be recognized when reliable new estimates can be made.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTaxesOtherThanIncomeTaxExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__70": { "value": "NOTE 9 Earnings per shareThe calculations of earnings per share attributable to the equity holders of the parent company are based on the following data:Restated2025 2024Profit (loss) after taxes (NOK 1,000) -80,543 -75,099Number of shares outstanding as of 1 January 115,154,535 104,024,929New shares issued during the year (see note 19) 4,705,882 5,500,000Excercised incentive options during the year (see note 19) - 5,629,606Number of shares outstanding as of 31 December 119,860,417 115,154,535Weighted average number of shares for the year 116,147,283 107,219,921Effect of dilution option programmes - - Weighted average number of shares adjusted for effect of dilution 116,147,283 107,219,921Earnings per share, basic and diluted (NOK) -0.69 -0.70Earnings per share Earnings per share are calculated by dividing the profit or loss for the period by the weighted average number of ordinary shares outstanding over the course of the period. Earnings per share fully diluted are calculated based on the result or the year divided by the average number of shares fully diluted. The effect of dilution is not counted in when the result is a decrease loss per share. Restated earnings per shareA reconciliation of previously reported figures to the restated amounts is presented in the table below.As originally presented Adjustments Restated2024 2024 2024Profit (loss) after taxes (NOK 1,000) -45,235 -29,865 -75,099Number of shares outstanding as of 1 January 104,024,929 104,024,929New shares issued during the year (see note 19) 5,500,000 5,500,000Exercised incentive options during the year (see note 19) 5,629,606 5,629,606Number of shares outstanding as of 31 December 115,154,535 115,154,535Weighted average number of shares for the year 107,219,921 107,219,921Effect of dilution option programmes - - Weighted average number of shares adjusted for effect of dilution 107,219,921 107,219,921Earnings per share, basic and diluted (NOK) -0.42 -0.70", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__71": { "value": "NOTE 9 Earnings per shareThe calculations of earnings per share attributable to the equity holders of the parent company are based on the following data:Restated2025 2024Profit (loss) after taxes (NOK 1,000) -80,543 -75,099Number of shares outstanding as of 1 January 115,154,535 104,024,929New shares issued during the year (see note 19) 4,705,882 5,500,000Excercised incentive options during the year (see note 19) - 5,629,606Number of shares outstanding as of 31 December 119,860,417 115,154,535Weighted average number of shares for the year 116,147,283 107,219,921Effect of dilution option programmes - - Weighted average number of shares adjusted for effect of dilution 116,147,283 107,219,921Earnings per share, basic and diluted (NOK) -0.69 -0.70Earnings per share Earnings per share are calculated by dividing the profit or loss for the period by the weighted average number of ordinary shares outstanding over the course of the period. Earnings per share fully diluted are calculated based on the result or the year divided by the average number of shares fully diluted. The effect of dilution is not counted in when the result is a decrease loss per share. Restated earnings per shareA reconciliation of previously reported figures to the restated amounts is presented in the table below.As originally presented Adjustments Restated2024 2024 2024Profit (loss) after taxes (NOK 1,000) -45,235 -29,865 -75,099Number of shares outstanding as of 1 January 104,024,929 104,024,929New shares issued during the year (see note 19) 5,500,000 5,500,000Exercised incentive options during the year (see note 19) 5,629,606 5,629,606Number of shares outstanding as of 31 December 115,154,535 115,154,535Weighted average number of shares for the year 107,219,921 107,219,921Effect of dilution option programmes - - Weighted average number of shares adjusted for effect of dilution 107,219,921 107,219,921Earnings per share, basic and diluted (NOK) -0.42 -0.70", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__72-1": { "value": "NOTE 10 Intangible assetsIntangible assets mainly consist of capitalized project cost and office software. Intangible asset accumulated cost also includes the value of the patent and know-how (IP) described as the NEXT Active Thermal\u2122 Sensing principle and capitalized costs related to ASIC hardware design.(amounts in NOK 1,000) 2025 2024Accumulated cost as of 1 January 33,255 30,494Additions 2,161 54 Disposals at cost - - Translation differences -2,895 2,707Accumulated cost as of 31 December 32,520 33,255 Accumulated amortization and impairment losses as of 1 January -32,430 -28,963Amortization -777 -762Accumulated amortization and impairment losses of disposed items - - Translation differences 2,888 -2,705Accumulated amortization and impairment losses as of 31 -30,319 -32,430DecemberCarrying amount as of 31 December 2,201 825Amortization period in years (straight line) 3-12 3-12As of 31 December 2025, in carrying amount, there is internally generated assets amounting to NOK 2.2 million whereas NOK 0.0 million are separately aquired assets (2024: NOK 0.8 million). There are no impairments related to intangible assets in 2025 and 2024. Capitalized project cost and office software have an amortization period of 3-5 years. Patent and know-how (IP) have had an amortization period of 12 years. The carrying amount for the patent and know-how (IP) described as the NEXT Active Thermal\u2122 Sensing principle and capitalized costs related to ASIC hardware design is zero as per 31 December 2025.NOTE 11 Property, plant and equipment2025 2024Right of use Right of use (amounts in NOK 1,000) Equipmentassets Total Equipmentassets TotalAccumulated cost as of 1 January 38,616 5,392 44,008 35,765 5,317 41,082Additions - 916 916 597 4,276 4,873Disposals at cost -51 -977 -1,028 -5 -4,755 -4,760Translation differences -3,284 -355 -3,639 2,260 553 2,813Accumulated cost as of 31 December 35,282 4,975 40,257 38,616 5,392 44,008 Accumulated depreciation and impairment losses as of 1 January -35,528 -1,386 -36,914 -30,871 -3,473 -34,344Depreciation -1,779 -2,072 -3,851 -2,524 -2,108 -4,632Impairment losses - - - - - - Derecognition of RoU asset due to office lease amendment - - - - -224 -224Accumulated depreciation and impairment losses of disposed items - 977 977 -5 4,755 4,750Translation differences 3,179 12 3,191 -2,128 -336 -2,464Accumulated depreciation and impairment -34,128 -2,469 -36,597 -35,528 -1,386 -36,914losses as of 31 DecemberCarrying amount as of 31 December 1,155 2,506 3,660 3,088 4,006 7,094Depreciation period in years (straight line) 3-10 2-4 3-10 2-4As of 31 December 2025, carrying amount of equipment consists of machinery of NOK 1.2 million (2024: NOK 3.1 million). Right of use assets represent office leases and amounted to NOK 2.5 million as per 31 December 2025 (2024: NOK 4.0 million). The accumulated cost of equipment primarily relates to the coating machine purchased in 2017 that is located in Taiwan, amounting to NOK 25.5 million. The remainder of the accumulated equipment cost mainly represents a cutting machine, that has an accumulated cost of NOK 7.3 million and zero net book value. Please note that these assets have been subject to currency adjustments. There are no impairments related to equipment in 2025.Additions in 2025 for right of use assets are related to new office lease in Taiwan. See also note 17 for further information regarding leases. (amounts in NOK 1,000) 2025 2024Depreciation property right-of-use assets (included in \"Depreciation and amortization\") -2,072 -2,108Interest income (included in \"Financial income\") - 81Interest expenses (included in \"Financial expenses\") -256 -139Net expenses related to leases -2,327 -2,166", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__73": { "value": "NOTE 10 Intangible assetsIntangible assets mainly consist of capitalized project cost and office software. Intangible asset accumulated cost also includes the value of the patent and know-how (IP) described as the NEXT Active Thermal\u2122 Sensing principle and capitalized costs related to ASIC hardware design.(amounts in NOK 1,000) 2025 2024Accumulated cost as of 1 January 33,255 30,494Additions 2,161 54 Disposals at cost - - Translation differences -2,895 2,707Accumulated cost as of 31 December 32,520 33,255 Accumulated amortization and impairment losses as of 1 January -32,430 -28,963Amortization -777 -762Accumulated amortization and impairment losses of disposed items - - Translation differences 2,888 -2,705Accumulated amortization and impairment losses as of 31 -30,319 -32,430DecemberCarrying amount as of 31 December 2,201 825Amortization period in years (straight line) 3-12 3-12As of 31 December 2025, in carrying amount, there is internally generated assets amounting to NOK 2.2 million whereas NOK 0.0 million are separately aquired assets (2024: NOK 0.8 million). There are no impairments related to intangible assets in 2025 and 2024. Capitalized project cost and office software have an amortization period of 3-5 years. Patent and know-how (IP) have had an amortization period of 12 years. The carrying amount for the patent and know-how (IP) described as the NEXT Active Thermal\u2122 Sensing principle and capitalized costs related to ASIC hardware design is zero as per 31 December 2025.", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__74": { "value": "NOTE 10 Intangible assetsIntangible assets mainly consist of capitalized project cost and office software. Intangible asset accumulated cost also includes the value of the patent and know-how (IP) described as the NEXT Active Thermal\u2122 Sensing principle and capitalized costs related to ASIC hardware design.(amounts in NOK 1,000) 2025 2024Accumulated cost as of 1 January 33,255 30,494Additions 2,161 54 Disposals at cost - - Translation differences -2,895 2,707Accumulated cost as of 31 December 32,520 33,255 Accumulated amortization and impairment losses as of 1 January -32,430 -28,963Amortization -777 -762Accumulated amortization and impairment losses of disposed items - - Translation differences 2,888 -2,705Accumulated amortization and impairment losses as of 31 -30,319 -32,430DecemberCarrying amount as of 31 December 2,201 825Amortization period in years (straight line) 3-12 3-12As of 31 December 2025, in carrying amount, there is internally generated assets amounting to NOK 2.2 million whereas NOK 0.0 million are separately aquired assets (2024: NOK 0.8 million). There are no impairments related to intangible assets in 2025 and 2024. Capitalized project cost and office software have an amortization period of 3-5 years. Patent and know-how (IP) have had an amortization period of 12 years. The carrying amount for the patent and know-how (IP) described as the NEXT Active Thermal\u2122 Sensing principle and capitalized costs related to ASIC hardware design is zero as per 31 December 2025.", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__75": { "value": "NOTE 10 Intangible assetsIntangible assets mainly consist of capitalized project cost and office software. Intangible asset accumulated cost also includes the value of the patent and know-how (IP) described as the NEXT Active Thermal\u2122 Sensing principle and capitalized costs related to ASIC hardware design.(amounts in NOK 1,000) 2025 2024Accumulated cost as of 1 January 33,255 30,494Additions 2,161 54 Disposals at cost - - Translation differences -2,895 2,707Accumulated cost as of 31 December 32,520 33,255 Accumulated amortization and impairment losses as of 1 January -32,430 -28,963Amortization -777 -762Accumulated amortization and impairment losses of disposed items - - Translation differences 2,888 -2,705Accumulated amortization and impairment losses as of 31 -30,319 -32,430DecemberCarrying amount as of 31 December 2,201 825Amortization period in years (straight line) 3-12 3-12As of 31 December 2025, in carrying amount, there is internally generated assets amounting to NOK 2.2 million whereas NOK 0.0 million are separately aquired assets (2024: NOK 0.8 million). There are no impairments related to intangible assets in 2025 and 2024. Capitalized project cost and office software have an amortization period of 3-5 years. Patent and know-how (IP) have had an amortization period of 12 years. The carrying amount for the patent and know-how (IP) described as the NEXT Active Thermal\u2122 Sensing principle and capitalized costs related to ASIC hardware design is zero as per 31 December 2025.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__78-1": { "value": "NOTE 11 Property, plant and equipment2025 2024Right of use Right of use (amounts in NOK 1,000) Equipmentassets Total Equipmentassets TotalAccumulated cost as of 1 January 38,616 5,392 44,008 35,765 5,317 41,082Additions - 916 916 597 4,276 4,873Disposals at cost -51 -977 -1,028 -5 -4,755 -4,760Translation differences -3,284 -355 -3,639 2,260 553 2,813Accumulated cost as of 31 December 35,282 4,975 40,257 38,616 5,392 44,008 Accumulated depreciation and impairment losses as of 1 January -35,528 -1,386 -36,914 -30,871 -3,473 -34,344Depreciation -1,779 -2,072 -3,851 -2,524 -2,108 -4,632Impairment losses - - - - - - Derecognition of RoU asset due to office lease amendment - - - - -224 -224Accumulated depreciation and impairment losses of disposed items - 977 977 -5 4,755 4,750Translation differences 3,179 12 3,191 -2,128 -336 -2,464Accumulated depreciation and impairment -34,128 -2,469 -36,597 -35,528 -1,386 -36,914losses as of 31 DecemberCarrying amount as of 31 December 1,155 2,506 3,660 3,088 4,006 7,094Depreciation period in years (straight line) 3-10 2-4 3-10 2-4As of 31 December 2025, carrying amount of equipment consists of machinery of NOK 1.2 million (2024: NOK 3.1 million). Right of use assets represent office leases and amounted to NOK 2.5 million as per 31 December 2025 (2024: NOK 4.0 million). The accumulated cost of equipment primarily relates to the coating machine purchased in 2017 that is located in Taiwan, amounting to NOK 25.5 million. The remainder of the accumulated equipment cost mainly represents a cutting machine, that has an accumulated cost of NOK 7.3 million and zero net book value. Please note that these assets have been subject to currency adjustments. There are no impairments related to equipment in 2025.Additions in 2025 for right of use assets are related to new office lease in Taiwan. See also note 17 for further information regarding leases.NOTE 18 LeasesThe table below shows the amounts related to leases recognized in the statement of financial position:(amounts in NOK 1,000) 2025 2024Property - office leases (included in \"Property, plant and equipment\") 2,506 4,006Total right-of-use assets 2,506 4,006Non-current lease liabilities 996 2,244Current lease liabilities 1,643 1,843Total lease liabilities 2,640 4,087See note 11 for more information regarding right-of-use assets. As per 31 December 2025, the Group has office lease agreements in Norway, China, USA and Taiwan. The individual lease terms for the Group's office leases are generally 2-3 years including extension periods at inception of the lease period. The group's office leases in Taiwan was extended in 2025, while the leases in Norway and USA were extended in 2024. The subsidiary in China entered into a new one-year office lease in 2025. In accordance with IFRS 16 regulations, the lease in China is not recognized as a right-of-use asset. Instead, it is directly recorded as an operating expense.The table below shows the amounts related to leases recognized in the statement of comprehensive income: (amounts in NOK 1,000) 2025 2024Depreciation property right-of-use assets (included in \"Depreciation and amortization\") -2,072 -2,108Interest income (included in \"Financial income\") - 81Interest expenses (included in \"Financial expenses\") -256 -139Net expenses related to leases -2,327 -2,166The table below shows a reconciliation of the opening and closing balance for lease liabilities arising from financing activities:(amounts in NOK 1,000) 2025 2024Opening balance 4,087 1,940Changes from financing cash flows -2,000 -2,017Changes in lease liabilities due to new/amended lease agreements or CPI adjustments 910 4,002Other changes -192 22Translation differences -165 140Closing balance as of 31 December 2,640 4,087The total cash outflow for leases in 2025 was NOK 2.0 million (2024: NOK 2.0 million). The table below shows the maturity profile for the lease liabilities based on contractual undiscounted payments:(amounts in NOK 1,000) 2025 2024Within one year 1,643 1,843More than 1 year but within 5 years 996 2,447After 5 years - - Total contractual cash flows related to leases 2,640 4,290Leasing\ue61fagreementsCurrently, the Group's only leases are office leases. The initial fixed lease period for the office leases are generally 2-3 years at inception of the individual leases. Currently, no office lease extension options have been recognized. The Group recognizes the office lease liability and a corresponding office right-of-use asset at the commencement date of the lease. Lease liabilities are measured at the present value of the remaining lease payments not paid at the commencement date. The lease payments are discounted using the lessee\u2019s interest rate implicit in the lease, or incremental borrowing rate when the interest rate implicit in the lease cannot be readily determined. Lease payments consists of the following elements: fixed payments, variable lease payment that are based on an index or a rate, amounts expected to be payable by the lessee under residual value guarantees, the exercise price of a purchase option if the lessee is reasonably certain to exercise that option, and payments of penalties for terminating the lease if the lease term reflects the lessee exercising that option. A corresponding asset representing the right to use the underlying asset during the lease term (right-of-use asset) is recognized, adjusted for prepayments done before commencement date, and initial direct costs and restoration costs if any. The right-of-use-asset is depreciated over the lease term and the depreciation expense is recognized as an operating expense. Interest expense on the lease liability is recognized as a financial expense.Lease contracts entered with a duration of less than 12 months and leases with a low value will not be recognized in the statement of financial position but recognized as an operating expense over the lease period. Lease liabilities will be remeasured upon the occurrence of certain events (e.g., a change in the lease term, a change in future lease payments resulting from a change in an index or rate used to determine those payments), which generally will be recognized as an adjustment to the right-of-use asset.", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__77-1": { "value": "There are no impairments related to equipment in 2025.The Group recognizes loss allowances on account receivables measured at amortized cost. None of the account receivables contain a significant financing component and the time value of money will not need to be considered as it is insignificant. The Group has few, but large customers. The Group considers reasonable and supportable information that is relevant and available when estimating loss allowance. This includes both quantitative and qualitative information and analysis of each customer and their domicile. The provision is based on individual assessment of each customer after thorough evaluations and discussions with each respective customer, as well as past experience.", "dimensions": { "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__80": { "value": "NOTE 12 Inventories (critical accounting estimate)Restated2025 2024Raw material, consumables and supplies 7,213 9,382 Work in progress 3,878 2,790 Finished products 4,500 5,500 Inventories in consignment 9,809 17,719 Total inventories 25,399 35,391 Cost of materials is defined as cost of materials and production service expensesCost of materials includes net write-downs of inventories. In 2025, write-downs on inventories was NOK 8.3 million while the write-down of inventories was NOK 0.36 millionin 2024.The total net inventory value was NOK 25.4 million as 31 December 2025 (NOK 35.4 million as per 31 December 2024 (restated)). Raw materials, work in progress and finished products are valued at the lower of cost and net realizable value after deduction for obsolescence.The Group booked an inventory write-down of NOK 8.3 million in 2025. The allowance for inventory obsolescence (inventory write-down) is based on the expected demand and resulting obsolescence estimate for each group of finished products, intermediate products, and raw materials. The estimated obsolescence is based on the 2026-2027 sales budget. The estimates have been set after thorough evaluations and significant judgements. In 2025, the inventory turnover was low due to delays of sales in India, China and Bangladesh. In 2026, the sales are expected to accelerate, and a major part of the inventory is expected to be sold. Still, the Group has a limited operating history with several of its major customers and many of these customers are located in countries with high geo-political risk, which makes it more challenging to estimate future sales and establish obsolescence estimates. Moreover, there is risk and uncertainty to these expected sales estimates in relation to the expected progress in the sales process that is dependent on the group\u2019s customers\u2019 progress on their sales to end-customers and individual project progress relating to product development and government certifications. These risks may differ per product and these observations, together with the relatively significant amount of inventory held by the group at year-end 2025, make valuation of the inventory and estimated inventory obsolescence significant accounting estimates.Restated inventoriesA reconciliation of previously reported figures to the restated amounts for the 2024 financial statements is presented in the table below.Please see note 26 for further information on the restatement.As originally presented Adjustment Restated(amounts in NOK 1,000) 2024 2024 2024Raw material, consumables and supplies 9,382 9,382 Work in progress 2,790 2,790 Finished products 5,500 5,500 Inventories in consignment 17,719 17,719 Total inventories 17,672 35,391", "dimensions": { "concept": "ifrs-full:DisclosureOfCostOfSalesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__79": { "value": "NOTE 12 Inventories (critical accounting estimate)Restated2025 2024Raw material, consumables and supplies 7,213 9,382 Work in progress 3,878 2,790 Finished products 4,500 5,500 Inventories in consignment 9,809 17,719 Total inventories 25,399 35,391 Cost of materials is defined as cost of materials and production service expensesCost of materials includes net write-downs of inventories. In 2025, write-downs on inventories was NOK 8.3 million while the write-down of inventories was NOK 0.36 millionin 2024.The total net inventory value was NOK 25.4 million as 31 December 2025 (NOK 35.4 million as per 31 December 2024 (restated)). Raw materials, work in progress and finished products are valued at the lower of cost and net realizable value after deduction for obsolescence.The Group booked an inventory write-down of NOK 8.3 million in 2025. The allowance for inventory obsolescence (inventory write-down) is based on the expected demand and resulting obsolescence estimate for each group of finished products, intermediate products, and raw materials. The estimated obsolescence is based on the 2026-2027 sales budget. The estimates have been set after thorough evaluations and significant judgements. In 2025, the inventory turnover was low due to delays of sales in India, China and Bangladesh. In 2026, the sales are expected to accelerate, and a major part of the inventory is expected to be sold. Still, the Group has a limited operating history with several of its major customers and many of these customers are located in countries with high geo-political risk, which makes it more challenging to estimate future sales and establish obsolescence estimates. Moreover, there is risk and uncertainty to these expected sales estimates in relation to the expected progress in the sales process that is dependent on the group\u2019s customers\u2019 progress on their sales to end-customers and individual project progress relating to product development and government certifications. These risks may differ per product and these observations, together with the relatively significant amount of inventory held by the group at year-end 2025, make valuation of the inventory and estimated inventory obsolescence significant accounting estimates.Restated inventoriesA reconciliation of previously reported figures to the restated amounts for the 2024 financial statements is presented in the table below.Please see note 26 for further information on the restatement.As originally presented Adjustment Restated(amounts in NOK 1,000) 2024 2024 2024Raw material, consumables and supplies 9,382 9,382 Work in progress 2,790 2,790 Finished products 5,500 5,500 Inventories in consignment 17,719 17,719 Total inventories 17,672 35,391", "dimensions": { "concept": "ifrs-full:DisclosureOfInventoriesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__87": { "value": "NOTE 13 Accounts receivablesRestated(amounts in NOK 1,000) 2025 2024Accounts receivables - gross 768 6,591 Accounts receivables - loss allowance - -3,270 Total accounts receivables as of 31 December 768 3,321 Restated(amounts in NOK 1,000) 2025 2024Not due 768 472 30-90 days overdue - 218 90-120 days overdue - - 120-180 days overdue - 1 180+ days overdue - 2,630 Total accounts receivables as of 31 December 768 3,321 The total credit loss allowance provision was NOK 0 million as per year end 2025 (2024: NOK 3.3 million), representing 0% (2024: 49.6%) of the total gross value of accounts receivables. The Group has few, but large customers. The provision is based on individual assessment of each customer after thorough evaluations and discussions with each respective customer.ACCOUNTS RECEIVABLES AND OTHER FINANCIAL ASSETSInitial recognition and measurement Account receivables are initially recognized when they are originated. An account receivable without a significant financing component is initially measured at the transaction price.Accounts receivable loss allowance The Group recognizes loss allowances on account receivables measured at amortized cost. None of the account receivables contain a significant financing component and the time value of money will not need to be considered as it is insignificant. The Group has few, but large customers. The Group considers reasonable and supportable information that is relevant and available when estimating loss allowance. This includes both quantitative and qualitative information and analysis of each customer and their domicile. The provision is based on individual assessment of each customer after thorough evaluations and discussions with each respective customer, as well as past experience. The Group has a limited operating history with several of its major customers, which makes it more challenging to establish expected credit loss estimates for these receivables. Account receivables write-off The gross carrying amount of a account receivables is written off when the Group has no reasonable expectations of recovering it in its entirety or a portion thereof. Restated accounts receivablesA reconciliation of previously reported figures to the restated amounts for the 2024 financial statements is presented in the table below. Please see note 26 for further information on the restatement.As originally presented Adjustment Restated(amounts in NOK 1,000) 2024 2024 2024Accounts receivables - gross 67,424 -60,833 6,591Accounts receivables - loss allowance -10,669 7,400 -3,270 Total accounts receivables as of 31 56,754 3,321 December", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__81": { "value": "NOTE 13 Accounts receivablesRestated(amounts in NOK 1,000) 2025 2024Accounts receivables - gross 768 6,591 Accounts receivables - loss allowance - -3,270 Total accounts receivables as of 31 December 768 3,321 Restated(amounts in NOK 1,000) 2025 2024Not due 768 472 30-90 days overdue - 218 90-120 days overdue - - 120-180 days overdue - 1 180+ days overdue - 2,630 Total accounts receivables as of 31 December 768 3,321 The total credit loss allowance provision was NOK 0 million as per year end 2025 (2024: NOK 3.3 million), representing 0% (2024: 49.6%) of the total gross value of accounts receivables. The Group has few, but large customers. The provision is based on individual assessment of each customer after thorough evaluations and discussions with each respective customer.ACCOUNTS RECEIVABLES AND OTHER FINANCIAL ASSETSInitial recognition and measurement Account receivables are initially recognized when they are originated. An account receivable without a significant financing component is initially measured at the transaction price.Accounts receivable loss allowance The Group recognizes loss allowances on account receivables measured at amortized cost. None of the account receivables contain a significant financing component and the time value of money will not need to be considered as it is insignificant. The Group has few, but large customers. The Group considers reasonable and supportable information that is relevant and available when estimating loss allowance. This includes both quantitative and qualitative information and analysis of each customer and their domicile. The provision is based on individual assessment of each customer after thorough evaluations and discussions with each respective customer, as well as past experience. The Group has a limited operating history with several of its major customers, which makes it more challenging to establish expected credit loss estimates for these receivables. Account receivables write-off The gross carrying amount of a account receivables is written off when the Group has no reasonable expectations of recovering it in its entirety or a portion thereof. Restated accounts receivablesA reconciliation of previously reported figures to the restated amounts for the 2024 financial statements is presented in the table below. Please see note 26 for further information on the restatement.As originally presented Adjustment Restated(amounts in NOK 1,000) 2024 2024 2024Accounts receivables - gross 67,424 -60,833 6,591Accounts receivables - loss allowance -10,669 7,400 -3,270 Total accounts receivables as of 31 56,754 3,321 December", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__82": { "value": "Initial recognition and measurement Account receivables are initially recognized when they are originated. An account receivable without a significant financing component is initially measured at the transaction price.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__83": { "value": "Accounts receivable loss allowance The Group recognizes loss allowances on account receivables measured at amortized cost. None of the account receivables contain a significant financing component and the time value of money will not need to be considered as it is insignificant. The Group has few, but large customers. The Group considers reasonable and supportable information that is relevant and available when estimating loss allowance. This includes both quantitative and qualitative information and analysis of each customer and their domicile. The provision is based on individual assessment of each customer after thorough evaluations and discussions with each respective customer, as well as past experience.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__86": { "value": "The Group recognizes loss allowances on account receivables measured at amortized cost. None of the account receivables contain a significant financing component and the time value of money will not need to be considered as it is insignificant. The Group has few, but large customers. The Group considers reasonable and supportable information that is relevant and available when estimating loss allowance. This includes both quantitative and qualitative information and analysis of each customer and their domicile. The provision is based on individual assessment of each customer after thorough evaluations and discussions with each respective customer, as well as past experience. The Group has a limited operating history with several of its major customers, which makes it more challenging to establish expected credit loss estimates for these receivables.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__85": { "value": "The Group recognizes loss allowances on account receivables measured at amortized cost. None of the account receivables contain a significant financing component and the time value of money will not need to be considered as it is insignificant. The Group has few, but large customers. The Group considers reasonable and supportable information that is relevant and available when estimating loss allowance. This includes both quantitative and qualitative information and analysis of each customer and their domicile. The provision is based on individual assessment of each customer after thorough evaluations and discussions with each respective customer, as well as past experience. The Group has a limited operating history with several of its major customers, which makes it more challenging to establish expected credit loss estimates for these receivables.", "dimensions": { "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__89": { "value": "NOTE 14 Other current assets(amounts in NOK 1,000) 2025 2024Prepayments 2,175 3,073 Government grants (see note 6) 1,455 1,776 Deposits 353 376 Income taxes and other taxes receivables 2,996 758 Other receivables 1,967 1,155 Total other current assets as of 31 December 8,946 7,138", "dimensions": { "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__88": { "value": "NOTE 14 Other current assets(amounts in NOK 1,000) 2025 2024Prepayments 2,175 3,073 Government grants (see note 6) 1,455 1,776 Deposits 353 376 Income taxes and other taxes receivables 2,996 758 Other receivables 1,967 1,155 Total other current assets as of 31 December 8,946 7,138", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__92": { "value": "NOTE 15 CashCash include cash in hand, deposits held at call with banks and bank deposits related to employee withholding tax (restricted funds).(amounts in NOK 1,000) 2025 2024Cash - unrestricted 8,044 62,615 Cash - employee withholding tax deposits 249 293 Total cash 8,294 62,907", "dimensions": { "concept": "ifrs-full:DisclosureOfRestrictedCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__90-1": { "value": "NOTE 15 CashCash include cash in hand, deposits held at call with banks and bank deposits related to employee withholding tax (restricted funds).(amounts in NOK 1,000) 2025 2024Cash - unrestricted 8,044 62,615 Cash - employee withholding tax deposits 249 293 Total cash 8,294 62,907Capital resourcesNEXT manages its liquidity passively, which means that funds are placed in floating-interest bank accounts. The majority of cash is held in Norwegian kroner at parent company level and is distributed when appropriate to the affiliates. This is both to have control of the overall liquidity situation and to manage expense levels in the affiliates. NEXT has no interest bearing debt by the end of 2025.NEXT targets to have an equity ratio above", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__91": { "value": "Cash include cash in hand, deposits held at call with banks and bank deposits related to employee withholding tax (restricted funds).", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__95": { "value": "NOTE 16 Other current liabilities2025 2024Accrued salary, vacation pay and board remuneration 2,504 3,405 Public duties payable 917 1,336Share options social security tax - 1,880 Other current liabilities 7,690 10,279 Total other current liabilities 11,112 16,900Total other current liabilities was NOK 11.0 million as per 31 December 2025 compared to NOK 16.8 million as per 31 December 2024. The liability for share option social security tax was reduced from NOK 1.9 million in 2024 to NOK 0 million in 2025 due to the reduction of the company's stock price during 2025. Other current liabilities was NOK 7.7 million as per 31 December 2025, of which NOK 4.3 million is prepayments from customers and distributors and NOK 3.4 million mainly relates to uninvoiced goods and services that has been received by the group.The Group entered into a contract with an external party targeting to reach certain sales targets in China. Upon reaching certain milestones, performance fees would be due to the external partner. According to the initial agreement, the Group may elect to settle the liability in cash or in NEXT Biometrics Group ASA shares at its own discretion. In the Group\u2019s reporting for the half year and third quarter 2025 the Group communicated that irregularities had occurred in the Chinese part of the business. Moreover, it was communicated that NEXT reversed accruals for compensation for sales and marketing incentives in China that were earlier booked in 2024 and 2025. Hence, the accrued liability for marketing incentive fees were restated to NOK 0.0 million as per 31 December 2024 and set to NOK 0.0 million as per 31 December 2025.For financial liabilities at amortised cost, the carrying amount is assessed to be a reasonable approximation of fair value. All items above are at amortised cost or nominal value.ProvisionsProvisions are recognized when, and only when, the Group has a valid liability (legal or constructive) as a result of events that have taken place and it is more probable than not that a financial settlement will take place as a result of the event(s), and the size of the amount can be measured reliably. Provisions are reviewed on each balance sheet date and their level reflects the best estimate of the liability. When the effect of time is insignificant, the provisions will be equal to the size of the expense necessary to be free of the liability. When the effect of time is significant, the provisions will amount to the present value of future payments to cover the liability. Any increase in the provisions due to time is recorded as other financial expenses.Contingent liabilities and assetsContingent liabilities are possible obligations resulting from past events which existence depends on future events; obligations that are not recognized because it is not probable that they will lead to an outflow of resources; and obligations that cannot be measured with sufficient reliability. Contingent liabilities are not recognized in the annual financial statements but will be disclosed in the notes if applicable. A contingent asset is not recognized in the annual financial statements but is disclosed in the notes if there is a degree of probability that a benefit will accrue to the Group.Restated other current liabilitiesA reconciliation of previously reported figures to the restated amounts for the 2024 financial statements is presented in the table below.Please see note 26 for further information on the restatement.As previously reported Adjustments Restated(amounts in NOK 1,000) 2024 2024 2024Accrued salary, vacation pay and board remuneration 3,405 3,405Public duties payable 1,244 1,244Share options social security tax 1,880 1,880Other current liabilities 11,915 -1,636 10,279Total other current liabilities 18,444 16,808", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__94-1": { "value": "NOTE 16 Other current liabilities2025 2024Accrued salary, vacation pay and board remuneration 2,504 3,405 Public duties payable 917 1,336Share options social security tax - 1,880 Other current liabilities 7,690 10,279 Total other current liabilities 11,112 16,900Total other current liabilities was NOK 11.0 million as per 31 December 2025 compared to NOK 16.8 million as per 31 December 2024. The liability for share option social security tax was reduced from NOK 1.9 million in 2024 to NOK 0 million in 2025 due to the reduction of the company's stock price during 2025. Other current liabilities was NOK 7.7 million as per 31 December 2025, of which NOK 4.3 million is prepayments from customers and distributors and NOK 3.4 million mainly relates to uninvoiced goods and services that has been received by the group.The Group entered into a contract with an external party targeting to reach certain sales targets in China. Upon reaching certain milestones, performance fees would be due to the external partner. According to the initial agreement, the Group may elect to settle the liability in cash or in NEXT Biometrics Group ASA shares at its own discretion. In the Group\u2019s reporting for the half year and third quarter 2025 the Group communicated that irregularities had occurred in the Chinese part of the business. Moreover, it was communicated that NEXT reversed accruals for compensation for sales and marketing incentives in China that were earlier booked in 2024 and 2025. Hence, the accrued liability for marketing incentive fees were restated to NOK 0.0 million as per 31 December 2024 and set to NOK 0.0 million as per 31 December 2025.For financial liabilities at amortised cost, the carrying amount is assessed to be a reasonable approximation of fair value. All items above are at amortised cost or nominal value.ProvisionsProvisions are recognized when, and only when, the Group has a valid liability (legal or constructive) as a result of events that have taken place and it is more probable than not that a financial settlement will take place as a result of the event(s), and the size of the amount can be measured reliably. Provisions are reviewed on each balance sheet date and their level reflects the best estimate of the liability. When the effect of time is insignificant, the provisions will be equal to the size of the expense necessary to be free of the liability. When the effect of time is significant, the provisions will amount to the present value of future payments to cover the liability. Any increase in the provisions due to time is recorded as other financial expenses.Contingent liabilities and assetsContingent liabilities are possible obligations resulting from past events which existence depends on future events; obligations that are not recognized because it is not probable that they will lead to an outflow of resources; and obligations that cannot be measured with sufficient reliability. Contingent liabilities are not recognized in the annual financial statements but will be disclosed in the notes if applicable. A contingent asset is not recognized in the annual financial statements but is disclosed in the notes if there is a degree of probability that a benefit will accrue to the Group.Restated other current liabilitiesA reconciliation of previously reported figures to the restated amounts for the 2024 financial statements is presented in the table below.Please see note 26 for further information on the restatement.As previously reported Adjustments Restated(amounts in NOK 1,000) 2024 2024 2024Accrued salary, vacation pay and board remuneration 3,405 3,405Public duties payable 1,244 1,244Share options social security tax 1,880 1,880Other current liabilities 11,915 -1,636 10,279Total other current liabilities 18,444 16,808RestatedEquity ratio 2025 2024Total equity 25,175 84,779Total assets 49,269 116,676Equity share 51% 73%Capital resources 2025 2024Current liabilities 23,095 29,653Non-current liabilities 999 2,244Less cash -8,294 -62,907Net debt (net cash) 15,800 -31,010Total equity 25,175 84,779Total capital resources 40,975 53,769Gearing ratio (%) 39% -58%As originally presented Adjustment Restated(amounts in NOK 1,000) 2024 2024 2024Equity ratioTotal equity 118,857 -34,078 84,779Total assets 152,390 -35,714 116,676Equity share 78% 73%Capital resources 2024 2024 2024Current liabilities 31,289 -1,636 29,653Non-current liabilities 2,244 2,244Less cash -62,907 -62,907Net debt (net cash) -29,374 -1,636 -31,010Total equity 118,857 -34,078 84,779Total capital resources 89,483 -35,714 53,769Gearing ratio (%) -33% -58%", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__93": { "value": "NOTE 16 Other current liabilities2025 2024Accrued salary, vacation pay and board remuneration 2,504 3,405 Public duties payable 917 1,336Share options social security tax - 1,880 Other current liabilities 7,690 10,279 Total other current liabilities 11,112 16,900Total other current liabilities was NOK 11.0 million as per 31 December 2025 compared to NOK 16.8 million as per 31 December 2024. The liability for share option social security tax was reduced from NOK 1.9 million in 2024 to NOK 0 million in 2025 due to the reduction of the company's stock price during 2025. Other current liabilities was NOK 7.7 million as per 31 December 2025, of which NOK 4.3 million is prepayments from customers and distributors and NOK 3.4 million mainly relates to uninvoiced goods and services that has been received by the group.The Group entered into a contract with an external party targeting to reach certain sales targets in China. Upon reaching certain milestones, performance fees would be due to the external partner. According to the initial agreement, the Group may elect to settle the liability in cash or in NEXT Biometrics Group ASA shares at its own discretion. In the Group\u2019s reporting for the half year and third quarter 2025 the Group communicated that irregularities had occurred in the Chinese part of the business. Moreover, it was communicated that NEXT reversed accruals for compensation for sales and marketing incentives in China that were earlier booked in 2024 and 2025. Hence, the accrued liability for marketing incentive fees were restated to NOK 0.0 million as per 31 December 2024 and set to NOK 0.0 million as per 31 December 2025.For financial liabilities at amortised cost, the carrying amount is assessed to be a reasonable approximation of fair value. All items above are at amortised cost or nominal value.ProvisionsProvisions are recognized when, and only when, the Group has a valid liability (legal or constructive) as a result of events that have taken place and it is more probable than not that a financial settlement will take place as a result of the event(s), and the size of the amount can be measured reliably. Provisions are reviewed on each balance sheet date and their level reflects the best estimate of the liability. When the effect of time is insignificant, the provisions will be equal to the size of the expense necessary to be free of the liability. When the effect of time is significant, the provisions will amount to the present value of future payments to cover the liability. Any increase in the provisions due to time is recorded as other financial expenses.Contingent liabilities and assetsContingent liabilities are possible obligations resulting from past events which existence depends on future events; obligations that are not recognized because it is not probable that they will lead to an outflow of resources; and obligations that cannot be measured with sufficient reliability. Contingent liabilities are not recognized in the annual financial statements but will be disclosed in the notes if applicable. A contingent asset is not recognized in the annual financial statements but is disclosed in the notes if there is a degree of probability that a benefit will accrue to the Group.Restated other current liabilitiesA reconciliation of previously reported figures to the restated amounts for the 2024 financial statements is presented in the table below.Please see note 26 for further information on the restatement.As previously reported Adjustments Restated(amounts in NOK 1,000) 2024 2024 2024Accrued salary, vacation pay and board remuneration 3,405 3,405Public duties payable 1,244 1,244Share options social security tax 1,880 1,880Other current liabilities 11,915 -1,636 10,279Total other current liabilities 18,444 16,808", "dimensions": { "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__96": { "value": "ProvisionsProvisions are recognized when, and only when, the Group has a valid liability (legal or constructive) as a result of events that have taken place and it is more probable than not that a financial settlement will take place as a result of the event(s), and the size of the amount can be measured reliably. Provisions are reviewed on each balance sheet date and their level reflects the best estimate of the liability. When the effect of time is insignificant, the provisions will be equal to the size of the expense necessary to be free of the liability. When the effect of time is significant, the provisions will amount to the present value of future payments to cover the liability. Any increase in the provisions due to time is recorded as other financial expenses.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__98": { "value": "Provisions are recognized when, and only when, the Group has a valid liability (legal or constructive) as a result of events that have taken place and it is more probable than not that a financial settlement will take place as a result of the event(s), and the size of the amount can be measured reliably. Provisions are reviewed on each balance sheet date and their level reflects the best estimate of the liability. When the effect of time is insignificant, the provisions will be equal to the size of the expense necessary to be free of the liability. When the effect of time is significant, the provisions will amount to the present value of future payments to cover the liability. Any increase in the provisions due to time is recorded as other financial expenses.", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__97": { "value": "Contingent liabilities and assetsContingent liabilities are possible obligations resulting from past events which existence depends on future events; obligations that are not recognized because it is not probable that they will lead to an outflow of resources; and obligations that cannot be measured with sufficient reliability. Contingent liabilities are not recognized in the annual financial statements but will be disclosed in the notes if applicable. A contingent asset is not recognized in the annual financial statements but is disclosed in the notes if there is a degree of probability that a benefit will accrue to the Group.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForContingentLiabilitiesAndContingentAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__99": { "value": "NOTE 17 Provisions, contingent liabilities and contingent assetsThe company performed an investigation focusing on suspected irregularities in the Chinese part of the Group's business in the second half of 2025. The investigation substantiated that irregularities have occurred in the Group's subsidiary in China. The Group and its Chinese sales and marketing partner\u2019s views on several topics pertaining to the Chinese business differ significantly and the sales and marketing partner has filed a claim against NEXT with the Shanghai International Economic and Trade Arbitration Commission (SHIAC).The sales and marketing partner has claimed a total payment of RMB 11.1 million, approximately NOK 16.0 million (based on 31 December 2025 exchange rates). Based on the facts revealed, the Group\u2019s position is that the company has no obligations to compensate the sales and marketing partner or any of its associated companies or individuals. Management considers it improbable that the claim will result in a financial obligation for the Group. Therefore, no provision has been recognized.NEXT further argues that SHIAC has no jurisdiction over most of the claims raised by the sales and marketing partner and that these claims fall under arbitration in accordance with the Norwegian Arbitration Act with Oslo, Norway, as seat of arbitration. The timeline of the resolution is uncertain.NEXT will continue to investigate the irregularities and will take any further relevant and necessary legal action against the relevant companies and individuals.Even though NEXT\u2019s position is that the company has no financial obligation in relation to the court case described above, there is risk and uncertainty relating to the outcome of the legal case. This is due that China is considered a jurisdiction with an above average legal risk, which makes the assessment of contingent liabilities a critical accounting estimate.In 2020, NEXT provided biometric products to a former client in Asia. The client failed to meet the agreed-upon payments, leading NEXT to decide to pursue these payments through the courts, citing a breach of contract. The arbitration court proceedings are ongoing. The book value of the NEXT receivable relating to this claim is zero as per 31 December 2025. In 2024, the former client countersued NEXT for breach of contract and is seeking NOK 17.5 million (converted to NOK based on 31 December 2025 exchange rates) plus interest in damages from NEXT. NEXT's management, in consultation with its legal advisors, considers this countersuit to be without merit and with a low likelihood of succeeding. As such, in accordance with IAS 37, no provision has been recognized for this potential liability in the financial statements as of 31 December 2025.NEXT provided biometric products to a client, which took delivery of a part of its committed order in 2020. The client later communicated that it did not intend to take delivery of the remaining part of its order. In 2025, this former client sued NEXT for breach of contract and is seeking NOK 3.2 million (converted to NOK based on 31 December 2025 exchange rates) in damages from NEXT. NEXT's management, in consultation with its legal advisors, considers this countersuit to be without merit and with a low likelihood of succeeding. As such, in accordance with IAS 37, no provision has been recognized for this potential liability in the financial statements as of 31 December 2025.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__100": { "value": "NOTE 17 Provisions, contingent liabilities and contingent assetsThe company performed an investigation focusing on suspected irregularities in the Chinese part of the Group's business in the second half of 2025. The investigation substantiated that irregularities have occurred in the Group's subsidiary in China. The Group and its Chinese sales and marketing partner\u2019s views on several topics pertaining to the Chinese business differ significantly and the sales and marketing partner has filed a claim against NEXT with the Shanghai International Economic and Trade Arbitration Commission (SHIAC).The sales and marketing partner has claimed a total payment of RMB 11.1 million, approximately NOK 16.0 million (based on 31 December 2025 exchange rates). Based on the facts revealed, the Group\u2019s position is that the company has no obligations to compensate the sales and marketing partner or any of its associated companies or individuals. Management considers it improbable that the claim will result in a financial obligation for the Group. Therefore, no provision has been recognized.NEXT further argues that SHIAC has no jurisdiction over most of the claims raised by the sales and marketing partner and that these claims fall under arbitration in accordance with the Norwegian Arbitration Act with Oslo, Norway, as seat of arbitration. The timeline of the resolution is uncertain.NEXT will continue to investigate the irregularities and will take any further relevant and necessary legal action against the relevant companies and individuals.Even though NEXT\u2019s position is that the company has no financial obligation in relation to the court case described above, there is risk and uncertainty relating to the outcome of the legal case. This is due that China is considered a jurisdiction with an above average legal risk, which makes the assessment of contingent liabilities a critical accounting estimate.In 2020, NEXT provided biometric products to a former client in Asia. The client failed to meet the agreed-upon payments, leading NEXT to decide to pursue these payments through the courts, citing a breach of contract. The arbitration court proceedings are ongoing. The book value of the NEXT receivable relating to this claim is zero as per 31 December 2025. In 2024, the former client countersued NEXT for breach of contract and is seeking NOK 17.5 million (converted to NOK based on 31 December 2025 exchange rates) plus interest in damages from NEXT. NEXT's management, in consultation with its legal advisors, considers this countersuit to be without merit and with a low likelihood of succeeding. As such, in accordance with IAS 37, no provision has been recognized for this potential liability in the financial statements as of 31 December 2025.NEXT provided biometric products to a client, which took delivery of a part of its committed order in 2020. The client later communicated that it did not intend to take delivery of the remaining part of its order. In 2025, this former client sued NEXT for breach of contract and is seeking NOK 3.2 million (converted to NOK based on 31 December 2025 exchange rates) in damages from NEXT. NEXT's management, in consultation with its legal advisors, considers this countersuit to be without merit and with a low likelihood of succeeding. As such, in accordance with IAS 37, no provision has been recognized for this potential liability in the financial statements as of 31 December 2025.", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__101": { "value": "NOTE 17 Provisions, contingent liabilities and contingent assetsThe company performed an investigation focusing on suspected irregularities in the Chinese part of the Group's business in the second half of 2025. The investigation substantiated that irregularities have occurred in the Group's subsidiary in China. The Group and its Chinese sales and marketing partner\u2019s views on several topics pertaining to the Chinese business differ significantly and the sales and marketing partner has filed a claim against NEXT with the Shanghai International Economic and Trade Arbitration Commission (SHIAC).The sales and marketing partner has claimed a total payment of RMB 11.1 million, approximately NOK 16.0 million (based on 31 December 2025 exchange rates). Based on the facts revealed, the Group\u2019s position is that the company has no obligations to compensate the sales and marketing partner or any of its associated companies or individuals. Management considers it improbable that the claim will result in a financial obligation for the Group. Therefore, no provision has been recognized.NEXT further argues that SHIAC has no jurisdiction over most of the claims raised by the sales and marketing partner and that these claims fall under arbitration in accordance with the Norwegian Arbitration Act with Oslo, Norway, as seat of arbitration. The timeline of the resolution is uncertain.NEXT will continue to investigate the irregularities and will take any further relevant and necessary legal action against the relevant companies and individuals.Even though NEXT\u2019s position is that the company has no financial obligation in relation to the court case described above, there is risk and uncertainty relating to the outcome of the legal case. This is due that China is considered a jurisdiction with an above average legal risk, which makes the assessment of contingent liabilities a critical accounting estimate.In 2020, NEXT provided biometric products to a former client in Asia. The client failed to meet the agreed-upon payments, leading NEXT to decide to pursue these payments through the courts, citing a breach of contract. The arbitration court proceedings are ongoing. The book value of the NEXT receivable relating to this claim is zero as per 31 December 2025. In 2024, the former client countersued NEXT for breach of contract and is seeking NOK 17.5 million (converted to NOK based on 31 December 2025 exchange rates) plus interest in damages from NEXT. NEXT's management, in consultation with its legal advisors, considers this countersuit to be without merit and with a low likelihood of succeeding. As such, in accordance with IAS 37, no provision has been recognized for this potential liability in the financial statements as of 31 December 2025.NEXT provided biometric products to a client, which took delivery of a part of its committed order in 2020. The client later communicated that it did not intend to take delivery of the remaining part of its order. In 2025, this former client sued NEXT for breach of contract and is seeking NOK 3.2 million (converted to NOK based on 31 December 2025 exchange rates) in damages from NEXT. NEXT's management, in consultation with its legal advisors, considers this countersuit to be without merit and with a low likelihood of succeeding. As such, in accordance with IAS 37, no provision has been recognized for this potential liability in the financial statements as of 31 December 2025.", "dimensions": { "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__105": { "value": "NOTE 18 LeasesThe table below shows the amounts related to leases recognized in the statement of financial position:(amounts in NOK 1,000) 2025 2024Property - office leases (included in \"Property, plant and equipment\") 2,506 4,006Total right-of-use assets 2,506 4,006Non-current lease liabilities 996 2,244Current lease liabilities 1,643 1,843Total lease liabilities 2,640 4,087See note 11 for more information regarding right-of-use assets. As per 31 December 2025, the Group has office lease agreements in Norway, China, USA and Taiwan. The individual lease terms for the Group's office leases are generally 2-3 years including extension periods at inception of the lease period. The group's office leases in Taiwan was extended in 2025, while the leases in Norway and USA were extended in 2024. The subsidiary in China entered into a new one-year office lease in 2025. In accordance with IFRS 16 regulations, the lease in China is not recognized as a right-of-use asset. Instead, it is directly recorded as an operating expense.The table below shows the amounts related to leases recognized in the statement of comprehensive income: (amounts in NOK 1,000) 2025 2024Depreciation property right-of-use assets (included in \"Depreciation and amortization\") -2,072 -2,108Interest income (included in \"Financial income\") - 81Interest expenses (included in \"Financial expenses\") -256 -139Net expenses related to leases -2,327 -2,166The table below shows a reconciliation of the opening and closing balance for lease liabilities arising from financing activities:(amounts in NOK 1,000) 2025 2024Opening balance 4,087 1,940Changes from financing cash flows -2,000 -2,017Changes in lease liabilities due to new/amended lease agreements or CPI adjustments 910 4,002Other changes -192 22Translation differences -165 140Closing balance as of 31 December 2,640 4,087The total cash outflow for leases in 2025 was NOK 2.0 million (2024: NOK 2.0 million). The table below shows the maturity profile for the lease liabilities based on contractual undiscounted payments:(amounts in NOK 1,000) 2025 2024Within one year 1,643 1,843More than 1 year but within 5 years 996 2,447After 5 years - - Total contractual cash flows related to leases 2,640 4,290Leasing\ue61fagreementsCurrently, the Group's only leases are office leases. The initial fixed lease period for the office leases are generally 2-3 years at inception of the individual leases. Currently, no office lease extension options have been recognized. The Group recognizes the office lease liability and a corresponding office right-of-use asset at the commencement date of the lease. Lease liabilities are measured at the present value of the remaining lease payments not paid at the commencement date. The lease payments are discounted using the lessee\u2019s interest rate implicit in the lease, or incremental borrowing rate when the interest rate implicit in the lease cannot be readily determined. Lease payments consists of the following elements: fixed payments, variable lease payment that are based on an index or a rate, amounts expected to be payable by the lessee under residual value guarantees, the exercise price of a purchase option if the lessee is reasonably certain to exercise that option, and payments of penalties for terminating the lease if the lease term reflects the lessee exercising that option. A corresponding asset representing the right to use the underlying asset during the lease term (right-of-use asset) is recognized, adjusted for prepayments done before commencement date, and initial direct costs and restoration costs if any. The right-of-use-asset is depreciated over the lease term and the depreciation expense is recognized as an operating expense. Interest expense on the lease liability is recognized as a financial expense.Lease contracts entered with a duration of less than 12 months and leases with a low value will not be recognized in the statement of financial position but recognized as an operating expense over the lease period. Lease liabilities will be remeasured upon the occurrence of certain events (e.g., a change in the lease term, a change in future lease payments resulting from a change in an index or rate used to determine those payments), which generally will be recognized as an adjustment to the right-of-use asset.", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__108-1": { "value": "(amounts in NOK 1,000) 2025 2024Property - office leases (included in \"Property, plant and equipment\") 2,506 4,006Total right-of-use assets 2,506 4,006Non-current lease liabilities 996 2,244Current lease liabilities 1,643 1,843Total lease liabilities 2,640 4,087RestatedEquity ratio 2025 2024Total equity 25,175 84,779Total assets 49,269 116,676Equity share 51% 73%Capital resources 2025 2024Current liabilities 23,095 29,653Non-current liabilities 999 2,244Less cash -8,294 -62,907Net debt (net cash) 15,800 -31,010Total equity 25,175 84,779Total capital resources 40,975 53,769Gearing ratio (%) 39% -58%As originally presented Adjustment Restated(amounts in NOK 1,000) 2024 2024 2024Equity ratioTotal equity 118,857 -34,078 84,779Total assets 152,390 -35,714 116,676Equity share 78% 73%Capital resources 2024 2024 2024Current liabilities 31,289 -1,636 29,653Non-current liabilities 2,244 2,244Less cash -62,907 -62,907Net debt (net cash) -29,374 -1,636 -31,010Total equity 118,857 -34,078 84,779Total capital resources 89,483 -35,714 53,769Gearing ratio (%) -33% -58%", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__107": { "value": "(amounts in NOK 1,000) 2025 2024Property - office leases (included in \"Property, plant and equipment\") 2,506 4,006Total right-of-use assets 2,506 4,006Non-current lease liabilities 996 2,244Current lease liabilities 1,643 1,843Total lease liabilities 2,640 4,087", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__102": { "value": " (amounts in NOK 1,000) 2025 2024Depreciation property right-of-use assets (included in \"Depreciation and amortization\") -2,072 -2,108Interest income (included in \"Financial income\") - 81Interest expenses (included in \"Financial expenses\") -256 -139Net expenses related to leases -2,327 -2,166", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__106": { "value": "The Group recognizes the office lease liability and a corresponding office right-of-use asset at the commencement date of the lease. Lease liabilities are measured at the present value of the remaining lease payments not paid at the commencement date. The lease payments are discounted using the lessee\u2019s interest rate implicit in the lease, or incremental borrowing rate when the interest rate implicit in the lease cannot be readily determined. Lease payments consists of the following elements: fixed payments, variable lease payment that are based on an index or a rate, amounts expected to be payable by the lessee under residual value guarantees, the exercise price of a purchase option if the lessee is reasonably certain to exercise that option, and payments of penalties for terminating the lease if the lease term reflects the lessee exercising that option. A corresponding asset representing the right to use the underlying asset during the lease term (right-of-use asset) is recognized, adjusted for prepayments done before commencement date, and initial direct costs and restoration costs if any. The right-of-use-asset is depreciated over the lease term and the depreciation expense is recognized as an operating expense. Interest expense on the lease liability is recognized as a financial expense.Lease contracts entered with a duration of less than 12 months and leases with a low value will not be recognized in the statement of financial position but recognized as an operating expense over the lease period. Lease liabilities will be remeasured upon the occurrence of certain events (e.g., a change in the lease term, a change in future lease payments resulting from a change in an index or rate used to determine those payments), which generally will be recognized as an adjustment to the right-of-use asset.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__110": { "value": "NOTE 19 Share capital, shareholder\u2019s information and share-based optionsThere is one class of shares. All shares have equal rights and are freely negotiable. The share capital is fully paid in. The par value of the shares is NOK 1 per share.There were 119,860,417 shares in the company on 31 December 2025, compared to 115,154,535 shares on 31 December 2024. At the end of 2025 there were 3,158 shareholder accounts compared to 3,391 at the end of 2024.Number of shares outstanding 2025 2024Opening balance 115,154,535 104,024,929Share issue(s) 4,705,882 5,500,000Exercised incentive share options - 5,629,606Closing balance 119,860,417 115,154,535In October 2025, NEXT Biometrics Group ASA completed private placement of 4,705,882 new shares at a subscription price of NOK 4.25 per share, raising gross proceeds of NOK 20 million. Direct expenses and underwriting commission in relation to the private placement was NOK 0.7 million and net proceeds were NOK 19.3 million.In October 2024, NEXT successfully completed a private placement issuing 5,500,000 new shares at a subscription price of NOK 7.3 per share, corresponding to gross proceeds of NOK 40.2 million. Direct expenses and underwriting commission in relation to the private placement was NOK 2.1 million and net proceeds were NOK 38.1 million. Moreover, in February, May and August 2024, 909,606 share options were exercised at an average subscription price of NOK 3.7 per share with total gross proceeds of NOK 3.4 million and net proceeds of NOK 3.3 million. Further, in September 2024, 4,720,000 share options were exercised at an average subscription price of NOK 3.99 per share with total gross proceeds of NOK 18.9 million and gross proceeds of NOK 18.8 million. Total net proceeds for the year 2024 amounted to NOK 60.1 million.There are no authorizations to the board to purchase own shares.Capital resourcesNEXT manages its liquidity passively, which means that funds are placed in floating-interest bank accounts. The majority of cash is held in Norwegian kroner at parent company level and is distributed when appropriate to the affiliates. This is both to have control of the overall liquidity situation and to manage expense levels in the affiliates. NEXT has no interest bearing debt by the end of 2025.NEXT targets to have an equity ratio above 80%, measured as total equity divided by total assets.RestatedEquity ratio 2025 2024Total equity 25,175 84,779Total assets 49,269 116,676Equity share 51% 73%Capital resources 2025 2024Current liabilities 23,095 29,653Non-current liabilities 999 2,244Less cash -8,294 -62,907Net debt (net cash) 15,800 -31,010Total equity 25,175 84,779Total capital resources 40,975 53,769Gearing ratio (%) 39% -58%As originally presented Adjustment Restated(amounts in NOK 1,000) 2024 2024 2024Equity ratioTotal equity 118,857 -34,078 84,779Total assets 152,390 -35,714 116,676Equity share 78% 73%Capital resources 2024 2024 2024Current liabilities 31,289 -1,636 29,653Non-current liabilities 2,244 2,244Less cash -62,907 -62,907Net debt (net cash) -29,374 -1,636 -31,010Total equity 118,857 -34,078 84,779Total capital resources 89,483 -35,714 53,769Gearing ratio (%) -33% -58%The largest shareholders at year end and shares owned by executive and Directors of the Board:Top 20 shareholders at 31 December 2025 Number of shares Percent of sharesSkandinaviska Enskilda Banken AB 7,413,614 6.2 %EDGEWATER AS 7,313,502 6.1 %VALSET INVEST AS 7,000,000 5.8 %NORUS AS 6,996,898 5.8 %SILVERCOIN INDUSTRIES AS 6,941,162 5.8 %HAAS AS 6,543,071 5.5 %VERDIPAPIRFONDET DELPHI NORGE 6,122,241 5.1 %SONGA CAPITAL AS 5,150,486 4.3 %CAMACA AS 5,015,783 4.2 %NORUS HOLDING AS 3,203,449 2.7 %UBS SWITZERLAND AG 2,990,979 2.5 %AS AUDLEY 2,627,027 2.2 %LUCELLUM AS 2,470,000 2.1 %MARSTAL AS 1,986,158 1.7 %The Bank of New York Mellon SA/NV 1,567,896 1.3 %CAMIKO AS 1,502,264 1.3 %HANOMA HOLDING AS 1,500,000 1.3 %ECOMNEX HOLDING AS 1,494,461 1.2 %Skandinaviska Enskilda Banken AB 1,371,472 1.1 %SPECTER INVEST AS 1,284,500 1.1 %Total top 20 80,494,963 67.2 %Others 39,365,454 32.8%Total number of shares 119,860,417 100.0%Shares owned by Executives and Directors of the Board Number of shares Percent of shares Held throughSenior ExecutivesUlf Ritsvall, CEO 67,000 0.06%Eirik Underthun, CFO 143,000 0.12%Marcus Lauren, CPO 20,000 0.02%Digvijay Singh Kanwar, SVP Head of Sales IUEA - 0.00%Joshua Chui, SVP Head of Sales South-East Asia - 0.00%Board of DirectorsHans Henrik Klouman, Chair 93,059 0.08% Virkelyst ASRoy Tselentis, Deputy Chair - 0.00%Tove Giske 450,000 0.38% TGI ASSiri Gomn\u00e6s B\u00f8rsum 9,412 0.01%Emine Lundkvist 79,738 0.07%Nomination CommitteeHans Herman Horn 17,586,991 14.67% NORUS AS, Norus Holding Datter AS, Edgewater AS & Hans Herman Horn1Haakon S\u00e6ter8,157,640 6.81% Silvercoin Industries AS, Fredrikstad Spillerinvest AS, Six-Seven AS & Haakon S\u00e6terAndreas Berdal Lorentzen - 0.00%Total 26,606,840 22.20%1 In addition to the shares held directly through Silvercoin Industries AS, Fredrikstad Spillerinvest AS and Six-Seven AS, Silvercoin Industries AS held futures held futures contracts on 1,000,000 NEXT shares as per 31 December 2025. As of 31 December 2025, the Company has one share option program:Long-term share options programNEXT has allotted long-term share options to employees and board members. The options in the 2020, 2021 and 2022 program are fully vested as per 31. December 2025. 2/3 of the options allocated to employees in the 2023 program has vested while the remaining 1/3 will vest in quarter one 2026. 1/3 of the options allocated to employees in the 2024 program has vested, and 1/3 of remaining unvested options will vest in quarter three 2026 and 1/3 in quarter one 2027. The options in the 2020 and 2021 program were extended during 2023 and these options expire in Q2 2026. The options in the 2022 program expire in Q3 2027. The options in the 2023, 2024 and 2025 program expire 5 years after the options have been granted (2028, 2029 and 2030 respectively). The options in the 2025 programoffered to board members is vesting 1/2 in 2026 and 1/2 in 2027. There are currently an accumulated 13,987,161 (11.67% of total number of shares in the Company) share options outstanding. Out of these, 7,775,549 share options have vested.Each option gives the holder the right to acquire one share from the Company at a strike price defined in the individual share option agreement.The option agreements include a clause on accelerated vesting in case of a majority of shares in the Company are (i) sold to an acquirer, (ii) the Company is merged with another company, (iii) a demerger occurs, and (iv) if the company's shares are delisted. At the Annual General Meeting (AGM) 9 May 2025 the Board of Directors was granted authorization to issue up to 9,278,911 shares in the company in relation to options granted to employees and board members. 2025 2024Weighted average Weighted average Options - movement Number of optionsexercise price Number of optionsexercise priceOutstanding options - Beginning period 10,020,579 5.65 14,048,519 4.81 Granted 4,070,000 4.08 2,225,000 7.86 Exercised - 0.00 -5,629,606 3.96 Forfeited or expired -103,418 7.94 -623,334 9.74 Outstanding options - End period 13,987,161 5.18 10,020,579 5.65 Vested options - End period 7,775,549 5.17 6,479,028 4.83 2025 2024Weighted average Weighted average Number of optionsfair value Number of optionsfair valueGranted options - During period 4,070,000 0.79 2,225,000 2.00 Of which adjustment prior periods expense Remaining expense Net expense in the period because of change in estimated number of future periods Number of options expected 2025(NOK 1,000)options that will vest (NOK 1,000) (NOK 1,000)to vest (number of options)2020 grants - - - 1,598,500 2021 grants - - - 1,803,664 2022 grants 857,314 - - 2,314,997 2023 grants 1,153,450 - 61,421 1,975,000 2024 grants 1,994,189 - 1,323,113 2,225,000 2025 grants 845,621 - 2,384,355 4,070,000 Total 4,850,574 - 3,768,889 13,987,161 Weighted average remaining Number of options expected Total number of options outstanding 2025 Range of exercise pricecontractual life (years)to vest (number of options)(number of options)2020 grants 2,49-3,21 0.47 1,598,500 1,598,500 2021 grants 5,97-7,45 0.47 1,803,664 1,803,664 2022 grants 4,48-4,89 1.66 2,314,997 2,314,997 2023 grants 5,94-6,46 2.46 1,970,653 1,975,000 2024 grants 7,86-7,86 3.46 2,121,439 2,225,000 2025 grants 3,38-5,16 4.36 3,684,790 4,070,000 Total 13,494,043 13,987,161 The fair value for the share-based options granted in the year has been calculated by use of the Black-Scholes and the following assumptions have been applied in 2024 and 2023: Exercise price:2025: Weighted average NOK 4.08 per share2024: Weighted average NOK 7.86 per shareVesting period:2025 employee options: 1/3 have 1 years, 1/3 have 2 years and 1/3 have 2.5 years2024 employee options: 1/3 have 1 years, 1/3 have 2 years and 1/3 have 2.5 yearsVolatility:2025: 34%-46% depending on time to maturity of individual options.2024: 41%-42% depending on time to maturity of individual options.Risk free interest rate:2025: 3.67%-3.90% depending on time to maturity of individual options.2024: 3.58%-4.10% depending on time to maturity of individual optionsAttrition:2025: Estimated 8% employee attrition for individual non-vested share-based options2024: Estimated 8% employee attrition for individual non-vested share-based options.No expected dividend payment", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__115": { "value": "There is one class of shares. All shares have equal rights and are freely negotiable. The share capital is fully paid in. The par value of the shares is NOK 1 per share.There were 119,860,417 shares in the company on 31 December 2025, compared to 115,154,535 shares on 31 December 2024. At the end of 2025 there were 3,158 shareholder accounts compared to 3,391 at the end of 2024.Number of shares outstanding 2025 2024Opening balance 115,154,535 104,024,929Share issue(s) 4,705,882 5,500,000Exercised incentive share options - 5,629,606Closing balance 119,860,417 115,154,535In October 2025, NEXT Biometrics Group ASA completed private placement of 4,705,882 new shares at a subscription price of NOK 4.25 per share, raising gross proceeds of NOK 20 million. Direct expenses and underwriting commission in relation to the private placement was NOK 0.7 million and net proceeds were NOK 19.3 million.In October 2024, NEXT successfully completed a private placement issuing 5,500,000 new shares at a subscription price of NOK 7.3 per share, corresponding to gross proceeds of NOK 40.2 million. Direct expenses and underwriting commission in relation to the private placement was NOK 2.1 million and net proceeds were NOK 38.1 million. Moreover, in February, May and August 2024, 909,606 share options were exercised at an average subscription price of NOK 3.7 per share with total gross proceeds of NOK 3.4 million and net proceeds of NOK 3.3 million. Further, in September 2024, 4,720,000 share options were exercised at an average subscription price of NOK 3.99 per share with total gross proceeds of NOK 18.9 million and gross proceeds of NOK 18.8 million. Total net proceeds for the year 2024 amounted to NOK 60.1 million.There are no authorizations to the board to purchase own shares.", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__116-1": { "value": "Capital resourcesNEXT manages its liquidity passively, which means that funds are placed in floating-interest bank accounts. The majority of cash is held in Norwegian kroner at parent company level and is distributed when appropriate to the affiliates. This is both to have control of the overall liquidity situation and to manage expense levels in the affiliates. NEXT has no interest bearing debt by the end of 2025.NEXT targets to have an equity ratio above 80%, measured as total equity divided by total assets.NOTE 21 Financial risk managementThe Group is subject to various financial risks, which are systematically monitored and managed to mitigate potential adverse impacts. Our risk management ensures that these risks are identified, assessed, and controlled effectively, thereby safeguarding the Group\u2019s financial stability and performance.Credit riskCredit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to the Group. The Group assesses each customer on an individual basis to estimate lifetime expected credit losses. The credit loss estimates are set by management based on internal and external information. This includes qualitative information and analysis, based on the Group\u2019shistorical experience and including forward-looking information. These estimates are subject to risks and uncertainties that could cause actual results to differ from current expectations. For example, economic and market conditions in the geographic areas and industries that the Group is operating can change. Moreover, the Group is facing risks related to new customers in existing and new markets, market acceptance of new products and services and changes in governmental regulations that impact the ability of the Group's end customers to sell their products, which may affect the Group's ability to collect its account receivables. Further, the Group has a limited operating history with several of its major customers in the new markets, which makes the Group exposed to additional credit risk. See note 13 - Accounts receivables for more information regarding account receivables.Liquidity riskThe Group strives to maintain sufficient cash to continue it's operations and meet obligations.The Group manages liquidity risk by maintaining adequate cash reserves by continuosly monitoring actual and forecasted cash flow by matching the maturity profiles of financial assets and liabilities.The Groups obligations mainly consists of supplier liabilities and other current liabilities. See note 16 - Liabilities for more information. The Group has no long term liabilities or overdraft facilities with financial institutions as of December 31 2025.Foreign currency riskThe primary functional currency of the Groups main operating subsidiary NEXT Biometrics AS is USD. The Group's revenues outside China are incurred in USD. The Group recognized 99% of its revenues in USD and 1% in Chinese Yuan (CNY) in 2025 (100% and 0% respectively in 2024). The CNY/USD rate has been quite stable in recent years. Still, the Group is exposed to fluctuations of the CNY, which will impact the value of inventory and account receivables that are issued in CNY. The Group's cost of materials purchases are incurred in USD. Moreover, the Group incurs employee and operating expenses that is denominated in USD, Norwegian Kroner (NOK), Taiwan Dollar (TWD) and CNY. The NOK/USD exchange rate has shown some volatility in recent years while the TWD and CNY are relatively closely correlated to the USD. The Group has not implemented a hedging policy to manage currency risks as it believes the costs are larger than the benefits.", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__117": { "value": "As of 31 December 2025, the Company has one share option program:Long-term share options programNEXT has allotted long-term share options to employees and board members. The options in the 2020, 2021 and 2022 program are fully vested as per 31. December 2025. 2/3 of the options allocated to employees in the 2023 program has vested while the remaining 1/3 will vest in quarter one 2026. 1/3 of the options allocated to employees in the 2024 program has vested, and 1/3 of remaining unvested options will vest in quarter three 2026 and 1/3 in quarter one 2027. The options in the 2020 and 2021 program were extended during 2023 and these options expire in Q2 2026. The options in the 2022 program expire in Q3 2027. The options in the 2023, 2024 and 2025 program expire 5 years after the options have been granted (2028, 2029 and 2030 respectively). The options in the 2025 programoffered to board members is vesting 1/2 in 2026 and 1/2 in 2027. There are currently an accumulated 13,987,161 (11.67% of total number of shares in the Company) share options outstanding. Out of these, 7,775,549 share options have vested.Each option gives the holder the right to acquire one share from the Company at a strike price defined in the individual share option agreement.The option agreements include a clause on accelerated vesting in case of a majority of shares in the Company are (i) sold to an acquirer, (ii) the Company is merged with another company, (iii) a demerger occurs, and (iv) if the company's shares are delisted. At the Annual General Meeting (AGM) 9 May 2025 the Board of Directors was granted authorization to issue up to 9,278,911 shares in the company in relation to options granted to employees and board members.", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__118": { "value": "NOTE 20 Remuneration key personnel and audit feesACTUAL REMUNERATION \ue61e SENIOR EXECUTIVESBoard Fair value Total 2025 (amounts in NOK 1,000)remuneration Salary Bonus Other benefits Pension costgranted options *remunerationSenior ExecutivesUlf Ritsvall, CEO - 3,160 330 57 - 2,409 5,956 Eirik Underthun, CFO - 2,124 - 6 173 260 2,563 Marcus Lauren, CPO** - 2,880 - - - 208 3,088 Digvijay Singh Kanwar, SVP Head of Sales IUEA** - 972 -519 - - 258 710 Joshua Chui, SVP Head of Sales South-East Asia** - 1,819 -1,341 - - 219 697 Board of DirectorsHans Henrik Klouman, Chair - - - - - 426 426 Roy Tselentis, Deputy Chair - - - - - 104 104 Tove Giske - - - - - - - Siri Gomn\u00e6s B\u00f8rsum 200 - - - - 55 255 Emine Lundkvist 200 - - - - 85 285 Odd-Harald Hauge, former Chair 500 - - - - - 500 Petter Fjellstad, former Board member 200 - - - - - 200 Nomination committeeHans-Herman Horn, Chair 20 - - - - - 20 Haakon S\u00e6ter 20 - - - - - 20 Andreas Berdal Lorentzen - - - - - - - Jon Frode Vaksvik, former Chair 30 - - - - - 30 Total remuneration 1,170 10,955 -1,530 63 173 4,025 14,856Board Fair value granted Total 2024 (amounts in NOK 1,000)remuneration Salary Bonus Other benefits Pension costoptions *remunerationSenior ExecutivesUlf Ritsvall, CEO - 2,960 1,509 65 - 1,939 6,472 Eirik Underthun, CFO - 2,010 - 5 181 291 2,487 Marcus Lauren, CPO** - 2,253 - - - 111 2,364 Digvijay Singh Kanwar, SVP Head of Sales IUEA** - 991 904 - - 206 2,100 Joshua Chui, SVP Head of Sales South-East Asia** - 1,880 1,347 - - 136 3,363 Peter Heuman, former CEO - 87 - - 5 -148 -56 Board of DirectorsOdd-Harald Hauge, Chair 200 - - - - - 200 Petter Fjeldstad 500 - - - - - 500 Emine Lundkvist 200 - - - - - 200 Siri Gomn\u00e6s B\u00f8rsum 200 - - - - 200 Nomination committeeJon Frode Vaksvik, Chair 30 - - - - - 30 Haakon S\u00e6ter 20 - - - - - 20 Hans-Herman Horn 20 - - - - - 20 Total remuneration 1,170 10,181 3,760 70 186 2,535 17,900* Fair value of granted options is equal to expensed share option remuneration for the year, which is based on fair value at grant date and vesting period (see note 2 for further information).** Hired through an external company. This is the invoiced amount from the external company, which includes social security and pension benefits.Board remuneration reported above is based on paid-out amounts.CEO remuneration\ue61f Ulf Ritsvall (CEO) has a salary of SEK 2.6 million per year. In addition, he is part of the Company\u2019s option plan and the bonus program, which provides annual bonuses based upon the achievement of performance objectives established by the company. Further, the CEO is entitled to a pension benefit of 15% of annual base salary. Ulf Ritsvall was awarded a bonus in 2025, which isexpected to be paid out in 2026. Moreover, hewas awarded a bonus for 2024 that was paid out in 2025. During 2024 and 2025, the company also paid pension benefits as salary, which is reported under salary in the tables above. Severance Ulf Ritsvall (CEO) has a severance agreement whereby he will receive 100% pay for 6 months for termination by the Company without cause.Loans and guarantees for senior executivesThe Company has not made any advance payments or issued loans to, or guarantees in favor of, any senior executives or members of the board as per 31 December 2025.Share based remunerationShare-based payments are equity-settled share options granted to employees, contractors and members of the board of directors. The options are charged against the income statements at their fair value over the vesting period, with a corresponding increase in equity. The fair value of share-based options is determined using the Black-Scholes option-pricing model. The social security contribution payable in connection with the exercise of the share options is accrued on a straight-line basis as current liabilities, based on the intrinsic value of the share options at the end of each accounting period with consequent charges to the payroll expenses. Share-based remuneration and option social security costs related to employees and members of the board are charged as payroll expenses, while costs related to contractors are charged as other operating expenses.Salary, pension and any bonuses will attract employer\u2019s tax, which will be expensed simultaneously with the remuneration. The notional cost of options as share-based remuneration is expensed, but the equity effect is nil because the contra item is a notional equity injection of equal amount. In addition, employer\u2019s tax is accrued on the intrinsic value of the option on the balance sheet date.For the shareholders, a possible exercise of share options will represent a dilution. At the end of 2025, the number of outstanding options to senior executives amounted to 11,675,000 corresponding to 9.7% of the share capital. At the end of 2024, the number of outstanding options to senior executives amounted to 8,085,000 corresponding to 7.0% of the share capital.For further details regarding share-based remuneration, see note 19.Accumulated Expired/ Average Accumulated Average quantity Granted adjusted Exercised exercise quantity options exercise 2025options OBoptions optionsoptionsprice - ACBprice - BSenior ExecutivesUlf Ritsvall, CEO 4,125,000 1,000,000 - - - 5,125,000 5.75Eirik Underthun, CFO 1,450,000 - 1,450,000 5.54Marcus Lauren, CPO 225,000 500,000 - - - 725,000 4.63Digvijay Singh Kanwar, SVP Head of Sales IUEA 350,000 300,000 - - - 650,000 4.98Joshua Chui, SVP Head of Sales South-East Asia 275,000 150,000 - - - 425,000 6.03Board of DirectorsHans Henrik Klouman, Chair - 1,000,000 - - - 1,000,000 5.16Roy Tselentis, Deputy Chair - 500,000 - - - 500,000 4.84Emine Lundkvist 230,000 - -30,000 - - 200,000 2.49Siri Gomn\u00e6s B\u00f8rsum 200,000 - - - - 200,000 4.89Tove Giske - 200,000 200,000 5.16Odd-Harald Hauge, former Chair 200,000 - - - - 200,000 2.49Petter Fjellstad, former Board member 1,030,000 - -30,000 - - 1,000,000 2.49Total 8,085,000 3,650,000 -60,000 - 11,675,000OPTIONS \ue61e SHARE BASED REMUNERATIONAccumulated Expired/ Average Accumulated Average quantity Granted adjusted Exercised exercise quantity options exercise price 2024options OBoptions optionsoptionsprice - ACB- BSenior ExecutivesUlf Ritsvall, CEO 2,725,000 1,400,000 - - - 4,125,000 6.30Eirik Underthun, CFO 1,750,000 50,000 - -350,000 2.49 1,450,000 5.54Marcus Lauren, CPO 75,000 150,000 - - - 225,000 7.39Digvijay Singh Kanwar, SVP Head of Sales IUEA 200,000 150,000 - - - 350,000 6.35Joshua Chui, SVP Head of Sales South-East Asia 75,000 200,000 - - - 275,000 7.4 8Peter Heuman, former CEO 5,020,000 - -300,000 -4,720,000 3.99 - - Board of DirectorsOdd-Harald Hauge, Chair 200,000 - - - - 200,000 2.49Petter Fjellstad 1,030,000 - - - - 1,030,000 2.66Emine Lundkvist 230,000 - - - - 230,000 3.27Siri Gomn\u00e6s B\u00f8rsum 200,000 - - - - 200,000 4.89Total 11,505,000 1,950,000 -300,000 -5,070,000 8,085,000A - Average exercise price for options exercised during the financial year (amounts in NOK)B - Average exercise price for quantity of options by the end of the financial year (amounts in NOK)", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__119": { "value": "NOTE 20 Remuneration key personnel and audit feesACTUAL REMUNERATION \ue61e SENIOR EXECUTIVESBoard Fair value Total 2025 (amounts in NOK 1,000)remuneration Salary Bonus Other benefits Pension costgranted options *remunerationSenior ExecutivesUlf Ritsvall, CEO - 3,160 330 57 - 2,409 5,956 Eirik Underthun, CFO - 2,124 - 6 173 260 2,563 Marcus Lauren, CPO** - 2,880 - - - 208 3,088 Digvijay Singh Kanwar, SVP Head of Sales IUEA** - 972 -519 - - 258 710 Joshua Chui, SVP Head of Sales South-East Asia** - 1,819 -1,341 - - 219 697 Board of DirectorsHans Henrik Klouman, Chair - - - - - 426 426 Roy Tselentis, Deputy Chair - - - - - 104 104 Tove Giske - - - - - - - Siri Gomn\u00e6s B\u00f8rsum 200 - - - - 55 255 Emine Lundkvist 200 - - - - 85 285 Odd-Harald Hauge, former Chair 500 - - - - - 500 Petter Fjellstad, former Board member 200 - - - - - 200 Nomination committeeHans-Herman Horn, Chair 20 - - - - - 20 Haakon S\u00e6ter 20 - - - - - 20 Andreas Berdal Lorentzen - - - - - - - Jon Frode Vaksvik, former Chair 30 - - - - - 30 Total remuneration 1,170 10,955 -1,530 63 173 4,025 14,856Board Fair value granted Total 2024 (amounts in NOK 1,000)remuneration Salary Bonus Other benefits Pension costoptions *remunerationSenior ExecutivesUlf Ritsvall, CEO - 2,960 1,509 65 - 1,939 6,472 Eirik Underthun, CFO - 2,010 - 5 181 291 2,487 Marcus Lauren, CPO** - 2,253 - - - 111 2,364 Digvijay Singh Kanwar, SVP Head of Sales IUEA** - 991 904 - - 206 2,100 Joshua Chui, SVP Head of Sales South-East Asia** - 1,880 1,347 - - 136 3,363 Peter Heuman, former CEO - 87 - - 5 -148 -56 Board of DirectorsOdd-Harald Hauge, Chair 200 - - - - - 200 Petter Fjeldstad 500 - - - - - 500 Emine Lundkvist 200 - - - - - 200 Siri Gomn\u00e6s B\u00f8rsum 200 - - - - 200 Nomination committeeJon Frode Vaksvik, Chair 30 - - - - - 30 Haakon S\u00e6ter 20 - - - - - 20 Hans-Herman Horn 20 - - - - - 20 Total remuneration 1,170 10,181 3,760 70 186 2,535 17,900* Fair value of granted options is equal to expensed share option remuneration for the year, which is based on fair value at grant date and vesting period (see note 2 for further information).** Hired through an external company. This is the invoiced amount from the external company, which includes social security and pension benefits.Board remuneration reported above is based on paid-out amounts.CEO remuneration\ue61f Ulf Ritsvall (CEO) has a salary of SEK 2.6 million per year. In addition, he is part of the Company\u2019s option plan and the bonus program, which provides annual bonuses based upon the achievement of performance objectives established by the company. Further, the CEO is entitled to a pension benefit of 15% of annual base salary. Ulf Ritsvall was awarded a bonus in 2025, which isexpected to be paid out in 2026. Moreover, hewas awarded a bonus for 2024 that was paid out in 2025. During 2024 and 2025, the company also paid pension benefits as salary, which is reported under salary in the tables above. Severance Ulf Ritsvall (CEO) has a severance agreement whereby he will receive 100% pay for 6 months for termination by the Company without cause.Loans and guarantees for senior executivesThe Company has not made any advance payments or issued loans to, or guarantees in favor of, any senior executives or members of the board as per 31 December 2025.Share based remunerationShare-based payments are equity-settled share options granted to employees, contractors and members of the board of directors. The options are charged against the income statements at their fair value over the vesting period, with a corresponding increase in equity. The fair value of share-based options is determined using the Black-Scholes option-pricing model. The social security contribution payable in connection with the exercise of the share options is accrued on a straight-line basis as current liabilities, based on the intrinsic value of the share options at the end of each accounting period with consequent charges to the payroll expenses. Share-based remuneration and option social security costs related to employees and members of the board are charged as payroll expenses, while costs related to contractors are charged as other operating expenses.Salary, pension and any bonuses will attract employer\u2019s tax, which will be expensed simultaneously with the remuneration. The notional cost of options as share-based remuneration is expensed, but the equity effect is nil because the contra item is a notional equity injection of equal amount. In addition, employer\u2019s tax is accrued on the intrinsic value of the option on the balance sheet date.For the shareholders, a possible exercise of share options will represent a dilution. At the end of 2025, the number of outstanding options to senior executives amounted to 11,675,000 corresponding to 9.7% of the share capital. At the end of 2024, the number of outstanding options to senior executives amounted to 8,085,000 corresponding to 7.0% of the share capital.For further details regarding share-based remuneration, see note 19.Accumulated Expired/ Average Accumulated Average quantity Granted adjusted Exercised exercise quantity options exercise 2025options OBoptions optionsoptionsprice - ACBprice - BSenior ExecutivesUlf Ritsvall, CEO 4,125,000 1,000,000 - - - 5,125,000 5.75Eirik Underthun, CFO 1,450,000 - 1,450,000 5.54Marcus Lauren, CPO 225,000 500,000 - - - 725,000 4.63Digvijay Singh Kanwar, SVP Head of Sales IUEA 350,000 300,000 - - - 650,000 4.98Joshua Chui, SVP Head of Sales South-East Asia 275,000 150,000 - - - 425,000 6.03Board of DirectorsHans Henrik Klouman, Chair - 1,000,000 - - - 1,000,000 5.16Roy Tselentis, Deputy Chair - 500,000 - - - 500,000 4.84Emine Lundkvist 230,000 - -30,000 - - 200,000 2.49Siri Gomn\u00e6s B\u00f8rsum 200,000 - - - - 200,000 4.89Tove Giske - 200,000 200,000 5.16Odd-Harald Hauge, former Chair 200,000 - - - - 200,000 2.49Petter Fjellstad, former Board member 1,030,000 - -30,000 - - 1,000,000 2.49Total 8,085,000 3,650,000 -60,000 - 11,675,000OPTIONS \ue61e SHARE BASED REMUNERATIONAccumulated Expired/ Average Accumulated Average quantity Granted adjusted Exercised exercise quantity options exercise price 2024options OBoptions optionsoptionsprice - ACB- BSenior ExecutivesUlf Ritsvall, CEO 2,725,000 1,400,000 - - - 4,125,000 6.30Eirik Underthun, CFO 1,750,000 50,000 - -350,000 2.49 1,450,000 5.54Marcus Lauren, CPO 75,000 150,000 - - - 225,000 7.39Digvijay Singh Kanwar, SVP Head of Sales IUEA 200,000 150,000 - - - 350,000 6.35Joshua Chui, SVP Head of Sales South-East Asia 75,000 200,000 - - - 275,000 7.4 8Peter Heuman, former CEO 5,020,000 - -300,000 -4,720,000 3.99 - - Board of DirectorsOdd-Harald Hauge, Chair 200,000 - - - - 200,000 2.49Petter Fjellstad 1,030,000 - - - - 1,030,000 2.66Emine Lundkvist 230,000 - - - - 230,000 3.27Siri Gomn\u00e6s B\u00f8rsum 200,000 - - - - 200,000 4.89Total 11,505,000 1,950,000 -300,000 -5,070,000 8,085,000A - Average exercise price for options exercised during the financial year (amounts in NOK)B - Average exercise price for quantity of options by the end of the financial year (amounts in NOK)", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__121": { "value": "Audit fees(amounts in NOK 1,000) 2025 2024Audit fee 1,047 780 Attestation 33 238 Tax services 1 - Non-audit services 179 6 Total audit fees 1,261 1,024", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__124": { "value": "Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to the Group. The Group assesses each customer on an individual basis to estimate lifetime expected credit losses. The credit loss estimates are set by management based on internal and external information. This includes qualitative information and analysis, based on the Group\u2019shistorical experience and including forward-looking information. These estimates are subject to risks and uncertainties that could cause actual results to differ from current expectations. For example, economic and market conditions in the geographic areas and industries that the Group is operating can change. Moreover, the Group is facing risks related to new customers in existing and new markets, market acceptance of new products and services and changes in governmental regulations that impact the ability of the Group's end customers to sell their products, which may affect the Group's ability to collect its account receivables. Further, the Group has a limited operating history with several of its major customers in the new markets, which makes the Group exposed to additional credit risk. See note 13 - Accounts receivables for more information regarding account receivables.", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__125": { "value": "The Group strives to maintain sufficient cash to continue it's operations and meet obligations.The Group manages liquidity risk by maintaining adequate cash reserves by continuosly monitoring actual and forecasted cash flow by matching the maturity profiles of financial assets and liabilities.The Groups obligations mainly consists of supplier liabilities and other current liabilities. See note 16 - Liabilities for more information. The Group has no long term liabilities or overdraft facilities with financial institutions as of December 31 2025.", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__126": { "value": "NOTE 22 Climate and ESG riskThe Group does not own or operate manufacturing facilities. Manufacturing is done through third parties. Climate impact and potential risk is low in the short to medium term. The Group is not directly impacted by physical climate risk such as potential flooding or general increase in the sea level. Moreover, the Group does not face any potential liabilities due to damage caused by climate change. Still, the Group is likely to be impacted by the regulatory and technological changes that are to be implemented (in the future) to reach a carbon neutral society, which may lead to long term increased electronic component purchase and manufacturing cost.ESG risk refers to the potential negative impact on a company\u2019s financial performance, reputation, or legal standing due to environmental, social, or governance factors. Please refer to the Corporate Social Responsibility Report in this annual report on page 22 for a review of the company's focus in this area. The Group is operating in selected countries with lower ESG standards than Europe and have implemented policies and procedures to mitigate ESG and control ESG risk.", "dimensions": { "concept": "ifrs-full:DisclosureOfAdditionalInformationExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__127": { "value": "NOTE 23 Related partiesThe Group\u2019s significant shareholders, board members and management are considered related parties. Transactions between related parties are always aimed at being carried at arm's length principle. Board members have received remuneration according to the general meetings decisions. In addition, board members have been granted options. Salary and board remuneration to related parties have been disclosed in note 20.", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "f1__s7__6__128": { "value": "NOTE 24 Events occurring after the balance sheet dateOn 18 March 2026, the Group announced a partially underwritten rights issue and a NOK 25 million bridge loan facility that will be repaidwith proceeds from the Rights Issue. The rights issue is partially underwritten by certain new and existing shareholders, who have committed to subscribe for NOK 41 million of the total subscription amount. The maximum gross proceeds in the rights issue is NOK 50 million. The net proceeds from the Rights Issue will be used for repayment of the bridge loans, and is expected to finance the Company's business plan into 2027.Further, the Company has agreed that the initial amount under the shareholder loan agreement entered into with certain lenders on 20 January 2026 for the principal amount of NOK 9 million (the \"Shareholder Loan\"), will be set off through the issuance of new shares in the Company to the lenders at a conversion price equal to the Subscription Price in the Rights Issue, upon completion of the Rights Issue. Any accrued interest under the Shareholder Loan is waived by the lenders under the Shareholder Loan.The Rights Issue is subject to, inter alia, the following conditions: (i) an extraordinary general meeting of the Company to be held on 7 April 2026 having resolved a reverse share split and a share capital decrease by the reduction of the nominal value of the Company's shares, (ii) the Share Capital Reduction having been completed following expiry of a six-week creditor notice period under Section 12-5 of the Norwegian Public Limited Liability Companies Act, (iii) the annual general meeting of the Company to be held on 20 May 2026 having resolved the Rights Issue, and (iv) the Financial Supervisory Authority of Norway having approved, and the Company having published, the Prospectus. Please refer to the March 18 2026 press release for further details.Between 31 December 2025 and the resolution of these financial statements, there has not been any other event which have had any noticeable impact on the Group\u2019s or the parent company's result for 2025 or the value of the Group or the parent company\u2019s assets and liabilities as of 31 December 2025.", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:5967007LIEEXZXK9R405", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } } } }