Navigation Links
SoundView Technology Group Issues NXT-ID (NXTD) Update; Scaling Up
Date:10/5/2015

BOSTON, October 5, 2015 /PRNewswire/ --

SoundView Technology Group (http://soundview.co) releases the following market and company update for NXT-ID, Inc. (NASDAQ: NXTD), a biometric authentication company focused on the growing mobile commerce market.

NXT-ID (NXTD $0.80)
Scaling Up
Kris Tuttle

Recent Highlights

We've been holding regular monthly meetings with NXT-ID to more closely track their progress since things are moving much faster now that the Wocket is in production. Here are some recent highlights: 

Production ramp: NXT-ID is currently shipping their Wocket in steadily increasing numbers. Revenues are growing rapidly on a sequential basis - from $100K in Q2 to $400K in Q3 with a solid Q4 expected. The company continues to track very closely to our IV model projections which suggest a stock price of $7.47. Our unit sales estimates for 2016 and beyond appear to be low but we will re-evaluate those numbers as we exit 2015.

Expanded distribution: NXT started working with Touch of Modern which is a kind of high-style-geek batch sale site. NXTD also announced[1] that they would be available on Amazon taking advantage of Amazon stocking and shipping services. These new outlets are a measured expansion intended to line up with the ability to build and ship units. As manufacturing capacity expands we can expect to see more distribution arrangements. We still love the idea of using QVC where the value proposition and audience seem like a very good fit.

Influential advisors: Bill Fields has joined with NXT-ID as a senior advisor to help oversee market strategy and distribution. Mr. Fields brings 25 years of experience from Wal-Mart where he rose to position of President and CEO of the Wal-Mart Stores Division. This will bring greater access and expertise in retail distribution. We also like the demonstration of a high standard of corporate governance despite the small size of the company.

Product pipeline: NXTD has released an App that provides customers with tools to update and manage their Wocket via the smartphones. They are also working on EMV-compatible designs for release later this year. Since they have solved what we view as the harder problem in smart wallets they are in a good position to do an easier one like a smart credit card linked to your phone. (This is what many others like Stratos have done.) It's less secure but it is convenient. The Wocket card works at far more points of sale than the others and the company will release a phone/card solution that expands their TAM and probably puts a dent in the opportunity for Stratos and that ilk of product. Card issuers believe they will still be issuing twice as many conventional cards versus EMV in 2019.

 

Possible bluebird: We haven't focused too much on the biometric side of the NXT-ID business due to all the excitement around the Wocket. However the 3D-ID business is part of the company and has been working with Battelle as a subcontractor on some major military initiatives. Specifically 3D-ID has been selected as the technology to be used for 3D facial recognition. This probably amounts to an incremental $150K to $200K of high margin revenue so it's not dramatic (but is high margin.) However having military-grade biometric technology is an asset in digital wallets and payments. We recount some of the important NXT-ID biometric technology below.

The full NXTD research update (PDF) is published and available here: 

http://s3.amazonaws.com/Published_Research/NXT-ID_NXTD_SV_NOTE_OCT_2015.pdf

Past reports and related research can be found on our website at http://soundview.co/infosec.

Disclosures

SoundView serves as a strategic advisor to NXT-ID and provides this research note for informational purposes only. SoundView does not have "ratings" and is not an investment bank, broker/dealer or registered investment advisor. We've undertaken to research all facts presented here but can make no promises that they are correct or that our reasoning and supporting intrinsic valuation model is an accurate depiction of the future. SoundView employees may have positions in stocks they work on, however at the time of this writing we are not aware of any outstanding positions in the shares of NXT-ID.

 

--------------------------------------------------

1. http://www.prnewswire.com/news-releases/nxt-ids-wocket-smart-wallet-accepted-by-amazon-launchpad-for-retail-sales-expected-to-add-to-continued-sales-growth-528166361.html

About NXT- ID Inc. - Mobile Security for a Mobile World: (NXTD) (NXTDW): 

NXT-ID, Inc.'s innovative MobileBio® solution mitigates consumer risks associated with mobile computing, m-commerce and smart OS-enabled devices. The company is focused on the growing m-commerce market, launching its innovative MobileBio® suite of biometric solutions that secure consumers' mobile platforms led by Wocket®; a next generation smart wallet designed to replace all the cards in your wallet, no smart phone required. Wocket was recognized as one of the top technology products at CES 2015 by multiple media outlets including Wired.com. The Wocket works most anywhere credit cards are accepted and only works with your biometric stamp of approval or passcode. http://www.wocketwallet.com/

NXT-ID' wholly owned subsidiary, 3D-ID LLC, is engaged in biometric identification and has 22 licensed patents in the field of 3D facial recognition http://www.nxt-id.com/, http://3d-id.net/

Contact:
Kris Tuttle
SoundView Technology Group
kris@soundview.co
+1-617-828-6462

Source: SoundView Technology Group



'/>"/>
SOURCE SoundView Technology Group
Copyright©2015 PR Newswire.
All rights reserved


Related biology news :

1. Technology Research Note Update from SoundView; Real-World Usage and Feedback of Wocket Smart Wallet at CVS, Whole Foods and other Retailers
2. EyeLock to Showcase its Technology at ASIS 2015
3. Wearable Technology Market Forecast 2015-2020: Leading Companies in Smartwatches, Fitness & Activity Trackers, mHealth, Cameras, AR Glasses & e-Textiles
4. Biometrics Technology Market is Expected to Reach $13.8 Billion by 2015: Hexa Research Inc.
5. Leaf Healthcare Releases Video from Wearable Technology Conference on New Applications for Wearables in the Hospital Environment
6. TrulySecure From Sensory Becomes First Face and Voice Biometrics Technology to be FIDO UAF Certified
7. Synaptics to Present at Pacific Crest Global Technology Leadership Forum
8. NXT-ID Patents Electronic Crypto-Currency Management Technology
9. NXT-ID Patents Personalized Tokenized Payments for Next Generation Secure Payment Technology
10. Global Banking Biometrics Market 2015-2020 - Market & Technology Analysis, Adoption Strategies and Forecasts
11. Synaptics Announces Worlds First Match-in-Sensor Fingerprint Authentication Technology
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/16/2017)... , May 16, 2017  Veratad Technologies, LLC ( ... online age and identity verification solutions, announced today they ... Conference 2017, May 15 thru May 17, 2017, in ... and International Trade Center. Identity impacts ... and in today,s quickly evolving digital world, defining identity ...
(Date:5/6/2017)... SINGAPORE , May 5, 2017 ... has just announced a new breakthrough in biometric ... that exploits quantum mechanical properties to perform ... new smart semiconductor material created by Ram Group ... across finance, entertainment, transportation, supply chains and security. ...
(Date:4/19/2017)... 2017 The global military biometrics ... marked by the presence of several large global players. ... five major players - 3M Cogent, NEC Corporation, M2SYS ... nearly 61% of the global military biometric market in ... global military biometrics market boast global presence, which has ...
Breaking Biology News(10 mins):
(Date:8/15/2017)... Wisconsin (PRWEB) , ... August 15, 2017 , ... ... a new family of 6” modular downlights designed to stay tightly sealed and ... including areas where damp and wet location listings just aren't enough, such as: ...
(Date:8/15/2017)... ... August 15, 2017 , ... ... by various biotic and abiotic factors. During this educational webinar, participants will learn ... as well as gain a better understanding of how genomics is important for ...
(Date:8/14/2017)... ... August 14, 2017 , ... Every year, ... researchers in the antibody community have recently come together to address this antibody ... the laboratory. , The team at Thermo Fisher Scientific ...
(Date:8/14/2017)... ... , ... The Conference Forum has confirmed the one-day agenda for ... 6, 2017 at the Marriott Copley Place in Boston, MA. , Returning as program ... Strategy, Pfizer Innovative Research Lab, Pfizer, who leads 19 industry speakers in discussing how ...
Breaking Biology Technology: