FB pixel

Aware, Inc. announces Q1 2015 financial results

Categories Biometrics News  |  Trade Notes

Biometrics software and service provider Aware, Inc. reported financial results for its first quarter ended March 31, 2015, which includes earned revenue of $4.1 million.

Revenue for the first quarter saw a 38% decline compared to the $6.6 million earned in the same quarter last year.

Additionally, the company’s net income for the quarter was $0.3 million ($0.01 per diluted share) compared to the $0.9 million ($0.04 per diluted share) earned in the same period a year ago.

Aware attributes the lower revenue and net income in the first quarter of this year compared to the same quarter last year to experiencing $2.6 million less in hardware revenue and, to a lesser degree, lower DSL royalties.

Meanwhile, the company’s revenue from software licenses, software maintenance and services increased 10% over the first quarter of last year.

“Over the past two quarters our financial results have been affected by lower revenue from a large government contract that has been winding down,” said Rick Moberg, Aware’s co-CEO and chief financial officer. “We have been working on replacing revenue from that contract with new sources of revenue from government and commercial customers.

“For example, approximately 23% of first quarter revenue was derived from two biometrics projects with commercial customers. These projects in particular and commercial biometrics markets in general represent potential areas of growth for us. It is too early to predict the longer term trajectory of these opportunities, but we are optimistic they may develop into meaningful sources of revenue.”

Previously reported, Aware, Inc. reported financial results for the fourth quarter of 2014, as well as for the year ended December 31, 2014.

Article Topics

 |   | 

Latest Biometrics News


Could be 25 years before TSA gets facial recognition in all US airports

The Transportation Security Administration (TSA) foresees significant delays in implementing facial recognition across U.S. airports if revenue continues to be…


Single solution for regulating AI unlikely as laws require flexibility and context

There is no more timely topic than the state of AI regulation around the globe, which is exactly what a…


Indonesia’s President launches platform to drive digital ID and service integration

In a bid to accelerate digital transformation in Indonesia, President Joko Widodo launched the Indonesian government’s new technology platform, INA…


MFA and passwordless authentication effective against growing identity threats

A new identity security trends report from the Identity Defined Security Alliance (IDSA) highlights the challenges companies continue to face…


Zighra behavioral biometrics contracted for Canadian government cybersecurity testing

Zighra has won a contract with Shared Services Canada (SSC) to protect digital identities with threat detection and Zero Trust…


Klick Labs develops deepfake detection method focusing on vocal biomarkers

The rise in deepfake audio technology has significant threats in various domains, such as personal privacy, political manipulation, and national…


5 Replies to “Aware, Inc. announces Q1 2015 financial results”

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Read This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events