Aware: quarterlies, annuals, SEC actions

May 12, 2025 – Aware reported revenue of $3.6 million, down from $4.4 million in Q1 2024, in what CEO Ajay Amlani called a “transitional phase” for the company.

The company brought in Amlani and CRO Brian Krause to provide the “disciplined commercialization strategy, a strong sales process and clear operational rigor” it was “missing, according to new Board of Directors Chairman Gary Evee.

Aware’s plan to rebuild its foundation for long term growth, as Amlani puts it, involves more U.S. commercial and government contracts, enhancing its biometric technology platform and strategic integrations of complementary solutions.

In the meantime, Aware reports its net loss increased from $1 million in the same quarter of last year to $1.6 million, or $0.08 per diluted share in Q1 2025.

Aware planning strategy refresh after uninspiring 2024

March 6, 2025 – Aware is planning to refine its strategy to position it for long-term success following a slightly down year and the appointment of its new CEO.

The company reports $17.4 million in its fiscal 2024 year from sales of its biometric technology, down from $18.2 million in 2023. Adjusted EBITDA loss was cut by 15 percent to $3.9 million.

Fourth quarter results were a little more promising for Aware, with a 10 percent increase in revenue compared to Q4 2023, to $4.8 million.

“To drive the growth Aware deserves, we are taking decisive action,” says new Aware CEO Ajay Amlani. “The biometrics industry operates in long cycles, and while macroeconomic headwinds and government budget constraints remain challenging, we are sharpening our go-to-market strategy, enhancing execution efforts, and unlocking new revenue opportunities to accelerate our momentum.”

Aware nears positive cash flow after cutting costs

August 20, 2024 – Recent measures taken by Aware to boost income from its biometric software and optimize cost efficiency have led to improvements in the company’s top- and bottom-line results.

Aware reports a 36 percent rise in revenues for the second quarter of 2024, on a year-over-year basis, to $4.3 million.  Operating expenses were down by $0.5 million in the quarter, to $5.7 million. Net loss for Q2 was $1.1 million, or $0.05 per diluted share, compared to $2.7 million or $0.13 per diluted share in Q2 2023.

For the first half of 2024, Aware reduced its GAAP net loss by 51 percent to just under $2.1 million.

Management commentary accompanying the results suggests that the company will end 2024 with double-digit growth reach “sustainable positive cash flow in 2025.”

Q1 another step towards positive cash flow for Aware

May 5, 2024 – Aware’s revenues from its biometric software ticked up by 3 percent to $4.4 million in the first quarter of its fiscal 2024.

Operating expenses declined at the same time, by 8 percent to $5.7 million, leading to a net loss of $1 million, or $0.05 per diluted share. That is a 30 percent improvement from last year’s Q1 net loss of $1.6 million, or $0.07 per diluted shared.

CEO Robert Eckel says recurring revenue from more customers, streamlined costs, including a ten percent reduction in headcount, new customers and expanded relationships with existing customers set Aware up “to achieve sustainable growth and positive cash flow.”

Aware’s 2023 marred by $2.7M write off but it gets old accounts to pay up

March 13, 2024 – Executives announcing Aware’s fiscal 2023, ended December 31, say they have turned around an extended rough patch. Annual revenue grew 14 percent to match sales notched in 2016. Read more here.

Aware’s Q3 revenue surge sets up neutral cashflow by year-end

November 2, 2023 – Aware’s revenue from sales of its biometric platform surged by 112 percent in its third fiscal quarter of 2023, compared to the same quarter a year ago, reaching $6.4 million, the company has announced.

The company’s $2.5 million in operating cashflow represented the highest amount since late-2018, while net income totalled $1.1 million, or $0.05 per diluted share.

Aware CEO and President Robert Eckel says the quarterly results positively reflect the company’s efforts to create annual recurring revenue and sustainable growth.

“Our leading biometric technology and ability to adapt to customers’ needs while remaining demographically neutral allows us to leverage partnerships to gain additional market share as well as capitalize on the growing traction for AwareID and broader industry tailwinds,” Eckel says. He believes Aware can grow total revenue and ARR by 15 percent this year and finish 2023 cashflow-neutral.

Financial losses for Aware leavened with large police biometrics contract

Aug 3, 2024 – This year has not been kind to adaptive authentication software firm Aware. It is bringing in new revenue, but, overall, its fundamentals, like those of many biometrics companies, are sliding. Read more here.

Aware expects bounce-back after messy fiscal 2022 for biometrics stocks

May 3, 2024 –Executives at biometric authentication software maker Aware say they expect to increase total revenue by at least 15 percent and right cash flow to at least neutral this fiscal year. Read more here.

Mixed financials to match mixed times

March 10, 2024 – Revenue was off in fiscal 2022, which the company attributed to lower services revenue (a drop that executives say was softened by better subscription and maintenance revenue.) They greatly narrowed their loss .. Read more here.

More financial and industry news about Aware, Inc. here.

Article Topics

Aware  |  biometrics  |  digital identity  |  financial results  |  stocks