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Aware Inc. (NASDAQ: AWRE) is a globally recognized leader in the field of biometrics, offering advanced software products, services, and solutions. Headquartered in Bedford, Massachusetts, Aware specializes in innovative technologies that include fingerprint, face, and iris recognition. Their offerings span a broad array of applications, from border management and law enforcement to banking and user authentication for financial transactions.
Founded in 1993, Aware made its mark by aiding the FBI in developing and optimizing the WSQ fingerprint image compression algorithm, crucial for large-scale fingerprint identification systems. Today, they continue to lead with products such as biometric SDKs, user interface applications for biometric enrollment, forensic analysis tools, and automated biometric identification systems (ABIS).
In recent news, Aware has been integrating its Knomi® mobile biometric authentication framework into PeopleCert's KYC identity verification processes, enhancing security in online proctored exams. Additionally, they have appointed AJ Naddell as Chief Product Officer to further drive product-market fit and capitalize on the growing multi-factor authentication market.
Despite challenges such as a write-down related to their investment in Omlis Limited, Aware remains financially robust, with $31 million in cash equivalents and a growing base of annual recurring revenue. Aware's commitment to innovation and secure, ethical use of biometric technology has ensured its place as a trusted provider in both government and commercial sectors.
Aware will also be showcasing its capabilities at Identity Week Europe 2024, addressing the rising threat of biometric deepfakes. The newly appointed Chief Product Officer, Heidi Hunter, will be leading discussions on preventing deepfake fraud, reflecting Aware's ongoing commitment to secure identity management solutions.
Aware Inc. (NASDAQ: AWRE) reported Q3 2024 financial results with total revenue of $3.8 million, down 41% from $6.4 million in Q3 2023. However, recurring revenue grew 29% to $2.8 million. Operating expenses decreased to $5.3 million from $5.6 million year-over-year due to cost optimization initiatives. The company secured a $1 million booking with a European government and launched AwareID on WordPress Marketplace. Cash position stood at $27.4 million as of September 30, 2024. The company reaffirmed expectations for double-digit annual recurring revenue growth in 2024.
Aware, Inc. (NASDAQ: AWRE) has launched AwareID, its cloud-based authentication platform, on the WordPress Marketplace. This move aims to make biometric authentication more accessible to businesses, offering secure, fast, and cost-effective solutions for website owners and developers. The plug-in enables biometric-based KYC and authentication to reduce fraud, protect revenue, and meet compliance regulations.
Key points:
- AwareID is now available as a plug-in for WordPress users
- Builds upon previous integration with WooCommerce for online gaming and sweepstakes
- Offers immediate use cases for online gambling, retail, and content access control
- Joins Aware's existing technology stack, including White Labeled Apps, SDKs, APIs, and OpenID Connect integration options
This launch is expected to significantly impact various industries, particularly e-commerce, by democratizing access to biometric authentication solutions.
Aware, Inc. (NASDAQ: AWRE), a global biometric platform company, has announced a webcast scheduled for Wednesday, October 30, 2024, at 5:00 p.m. Eastern time. The purpose of this webcast is to discuss the company's financial results for the third quarter ended September 30, 2024. Aware management will host the presentation, which will be followed by a question-and-answer session.
Key details of the webcast include:
- Financial results will be issued in a press release prior to the call
- Interested parties can submit questions in advance via email
- The presentation will be available for replay in the investor relations section of Aware's website
- Audio recording will be accessible for approximately 90 days after the live event
Aware's '2024 Consumer Trust in Biometrics Report' reveals widespread adoption of biometric authentication, with over 50% of users authenticating daily using biometrics. Key findings include:
1. 62% of respondents have never refrained from using biometrics due to trust issues.
2. Security and convenience are the main drivers for biometric use.
3. Consumers seek clear policies on biometric data management.
4. Over 50% are comfortable using biometrics in public spaces.
5. Transparent communication about data use would increase trust for more than half of respondents.
6. Trust in biometrics is highest in banking and lowest in online gambling.
The report suggests a significant opportunity for brands to build trust by addressing consumer concerns about data usage and offering alternative authentication options.
Aware, Inc. (NASDAQ: AWRE) reported strong financial results for Q2 and H1 2024. Total revenue for H1 2024 increased 17% year-over-year to $8.7 million, while recurring revenue grew 14% to $5.9 million. The company achieved significant profitability gains, with a 51% improvement in GAAP net loss and a 55% improvement in adjusted EBITDA loss.
Q2 2024 highlights include a 36% year-over-year revenue increase to $4.3 million and a 31% growth in recurring revenue to $2.7 million. Operating expenses decreased by 7% to $5.7 million. Aware maintained a strong balance sheet with $27.4 million in cash and equivalents as of June 30, 2024.
The company's focus on growth and operational improvements has positioned it for efficient double-digit growth in 2024 and sustainable positive cash flow in 2025.
Aware, Inc. (NASDAQ: AWRE), a global biometric platform company, has announced a webcast scheduled for Thursday, August 8, 2024, at 5:00 p.m. Eastern time to discuss its financial results for the second quarter ended June 30, 2024. The company, which specializes in using data science, machine learning, and AI for biometric solutions, will release its financial results in a press release prior to the call. The webcast will feature a presentation by Aware management, followed by a Q&A session. Interested parties can submit questions in advance via email. The presentation will be available for replay on the company's investor relations website, with the audio recording accessible for approximately 90 days after the event.
At Identity Week Europe 2024 in Amsterdam, Aware's new Chief Product Officer, Heidi Hunter, will lead discussions on biometric deepfakes. As deepfakes double every six months, Hunter, with over 10 years in product strategy, will address the techniques and prevention of deepfakes. Key sessions include 'Biometrics and the Consumer Mindset' and 'Biometric Spoofing,' with a roundtable on 'Deepfake Detection.' CEO Bob Eckel emphasizes Hunter's role in evolving Aware's biometric offerings. Join Aware at booth #294 on June 11-12, 2024, to explore advanced biometric solutions.
Aware, Inc. reported first quarter 2024 financial results, with total revenue increasing by 3% to $4.4 million. Recurring revenue made up 71% of total revenue, growing by 3% year-over-year to $3.1 million. Operating expenses decreased by 8%, leading to a $0.6 million reduction in operating loss to $1.0 million. The company expanded its presence in Latin America and Turkey, strengthened relationships with major federal government agencies, and maintained a strong balance sheet with $28.5 million in cash, cash equivalents, and marketable securities. Management expects sustainable growth through an expanding pipeline of opportunities, increased partner acquisition momentum, and enhanced operating leverage.
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