IDEX reported its FY 2015 results last Friday. The operating milestones achieved during the year show the significant strides made to transform a development company that has industry-leading intellectual property and know-how into a commercial enterprise. The milestones delivered particularly in the last 2-3 quarters point to an exciting year ahead of commercialisation with volume shipments across different product lines underscoring the group’s progress across the three mass markets of mobile devices, ID & smart cards and the Internet of Things. It has a very strong balance sheet ($87m of cash, no debt) that can support its expanding organisation to address customer demand across its markets. We believe prospects remain very exciting given the limited number of players that can truly exploit the global opportunity in each of its addressable markets.
