Aware revenue leaps, Thales biometrics business recovering, Trust Stamp plans next listing
Aware has surpassed its total 2020 revenue in the first nine months of 2021, bringing $12.9 million in the first three quarters, according to a third quarter 2021 earnings report.
The third quarter itself was arguably even better for Aware, with revenue of $4.2 million down slightly on a sequential basis but up 69 percent year-over-year, and the company’s flagship biometrics product Knomi was used more transactions in Q3 than it was in all of last year.
Aware says the increase in subscriptions revenue drove its top-line gains. Net loss in the quarter was $1.6 million, or $0.07 per diluted share, compared to a net loss of $1.8 million, or $0.08 a year ago.
Bob Eckel, Aware CEO, says the company made progress in building up its sales pipeline and forming partnerships.
“We are capitalizing on the strength of our existing customer base by extending our engagements into longer-term commitments,” Eckel says. “OEM revenue, where we have our SDK built into hardware for providers, has rebounded significantly from last year. We successfully completed a major program ahead of schedule and will be transitioning to add-on sales in the coming quarters. Our balance sheet remains robust as we continue to evaluate strategic opportunities to accelerate our growth and add scale. The momentum in the business is very positive and we remain confident in our ability to deliver solid results as we work toward the end of the fiscal year.”
Eckel also recently wrote about the U.S. government’s attempts to improve the nation’s cybersecurity posture in a Biometric Update guest post.
Notably, Aware has turned to public relations startup Notably to handle its various communications as the company’s agency of record, PRrovoke reports. Aware had been represented by PAN.
The PR firm, which launched late last year, will support Aware’s efforts to expand its product portfolio beyond its core offerings, according to the report.
Aware will present its biometric technology for SIM card registration at Mobile World Congress LA from October 26th to 28th.
The company’s VP of Sales and Marketing, Chris Koeneman, will discuss the use of biometrics in mobile customer interactions in a panel presentation, and the combination of face and voice biometrics and liveness detection for each modality in its Knomi solution can provide passwordless authentication for a range of use cases, according to a separate announcement.
Thales biometrics business recovery begins
Thales sales increased by 5.7 percent in the first nine months of 2021, compared to the same period a year ago, 6.2 percent on an organic basis, to €11.2 billion (US$13 billion). The company reaffirmed its full-year guidance.
Sales by the company’s Digital Identity and Security division, which sells Thales’ biometric scanners and mobile driver’s license software, fell by 4.3 percent over the first nine months of the year compared to 2020. Like its civil aeronautics business, the company’s biometrics business is still affected by travel restrictions, according to an earnings report, but it began to rebound in Q3.
Trust Stamp plans NASDAQ listing
Genner says Trust Stamp has never lost a customer, and at the end of its current fundraising efforts will have reached between $30 million and $40 million.
The company is also planning to expand its core client base and release more financial products.