ImageWare updates on GoVerifyID sales for 2018
ImageWare Systems has provided its first update on GoVerifyID sales for 2018 which includes additional license sales to an existing federal government customer and four new partner sales.
The government customer, who has been using the IWS Biometric Engine for more than five years, made a $730,000 purchase of additional licenses. The other sales include: a partner sale to a private global corporation which placed an initial order for enterprise GoVerifyID to serve the first 1,000 employees with plans to roll out GoVerifyID to its remaining 55,000 employees; a partner sale of its new cloud-based product with GoVerifyID built-in to two federal government agencies for use by select employees, and; Fujitsu purchased licenses for 1,000 of its employees.
For all of these partner sales, ImageWare generates revenue on a per user/per month basis.
“Working with our partners, combined with anticipated sales from our own sales efforts, we now expect additional sales on a regular basis and look forward to the next sales update in May,” said Jim Miller, chairman and CEO of ImageWare.
ImageWare announced the availability of major enhancements to its GoVerifyID mobile app, GoMobile Interactive cloud platform, and GoVerifyID Enterprise Suite products earlier this year.
Article Topics
biometrics | GoVerifyID | ImageWare | partnerships
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According to industry sources the Veterans Administration is the government agency that added licenses. That could grow in huge numbers as adoption is now increasing in scale. Same sources point to Fujitsu as becoming a very large customer for its global help desk customer contact support centers, Fujitsu is the 5 th largest IT company in the world, in 100 countries, estimated to support a suggested 200,000,000 plus end user customers. Note that all customers in this announcement will account for monthly reaccuring revenue. ImageWare could do 20 Million in revenue according to recent equiity research data. This would be 5X revenue growth over 2017. Huge multiples by Wall st standards, and a great proof point for Biometric adoption as the new cornerstone of security and identity management.