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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. (AWRE) announces significant growth in biometric solutions for financial services, particularly in Brazil, Mexico, and Turkey. With mobile banking projected to surge over 155% by 2026, Aware addresses rising fraud, which has increased 18% annually. The company has partnered with major banks, enhancing security for over 55 million users and $400 billion in assets in Latin America. In Turkey, Aware's technology supports 1 million annual digital transactions, promoting secure, passwordless customer onboarding and access to accounts.
Aware, Inc. (NASDAQ: AWRE) reported its financial results for Q1 2022, achieving a revenue of $4.7 million, reflecting a 17% sequential increase and a 6% annual growth, marking the highest quarterly revenue since 2018. The recurring revenue surged by 30% year-over-year, driven by a 73% rise in subscription income. The net loss remained stable at $1.3 million, while cash reserves totaled $25.1 million. Aware secured strategic partnerships to enhance its offerings, including a $2.5 million investment in MIRACL. Management aims to exceed the biometric market's projected 15% CAGR.
Aware, Inc. (NASDAQ: AWRE) will host a webcast on April 26, 2022, at 5:00 p.m. Eastern time to discuss its financial results for Q1 2022, ending March 31, 2022. The presentation will be followed by a Q&A session. Interested parties can submit questions in advance via email. A replay of the presentation will be available for 90 days post-event on the company's investor relations website. Aware specializes in adaptive biometrics for identity verification, catering to government and commercial sectors.
Aware, Inc. (NASDAQ: AWRE) has announced the integration of Flutter™ Version 2.10 into its Knomi mobile biometric authentication platform. This enhancement allows for faster time to market and cost-effective development of advanced authentication features. With Flutter, Knomi 5.0 will enable developers to create applications across multiple platforms using a single codebase, improving efficiency and customization options. The update aims to meet market demands for quick, flexible, and secure biometric onboarding solutions, streamlining user experiences and reducing development costs.
Aware, Inc. (NASDAQ: AWRE) announced a strategic partnership with MIRACL and a $2.5 million investment in Omlis Limited, enhancing its biometric authentication offerings. This collaboration aims to improve defenses against data breaches and ransomware, which have surged significantly in recent years. Aware's integration of MIRACL’s technology will expand its cloud-based services, particularly in the financial sector, by providing multifactor authentication solutions. The partnership is expected to create future joint product developments and deliver simplified, secure user experiences.
Aware, Inc. (NASDAQ: AWRE) reported a 49% increase in revenue for 2021, reaching $16.9 million. Recurring revenue exceeded $9 million, driven by a tripling of subscription revenue. The company protected 42 million transactions via Knomi™, marking a 345% growth year-over-year. Despite a net loss of $5.8 million for the year, adjusted EBITDA improved to a loss of $3.8 million. Aware acquired Fortress Identity to enhance digital ID verification. Management aims to accelerate growth in 2022, targeting increases above the biometrics market’s 15% CAGR.
Aware (NASDAQ: AWRE), a leading biometric authentication company, is showcasing its Knomi mobile passwordless authentication solutions at Mobile World Congress Barcelona from February 28 to March 3, 2022. The demonstration highlights the significance of biometric technologies in securing SIM card registration and mobile transactions amidst rising identity theft and fraud. Aware’s offerings target mobile network operators, emphasizing strong security without compromising user convenience, as noted by Chief Commercial Officer Rob Mungovan. Attendees can visit Hall 5, Booth 29 for insights and a preview of upcoming products.
Aware (NASDAQ: AWRE) has partnered with Anonybit to enhance biometric data security. This collaboration aims to provide secure, privatized biometric templates, addressing growing concerns over data breaches. Aware's biometric technology combined with Anonybit's decentralized approach will enable privacy-preserving authentication solutions across various applications, including access control and time management. The partnership highlights the importance of securing biometric data as it becomes increasingly used in daily life, amidst rising data breach incidents.
Aware, Inc. (NASDAQ: AWRE) has received the 2022 Future Digital Award from Juniper Research for its Knomi® mobile biometric authentication platform. Recognized as the Best Mobile Identity Solution in the Security and Fraud category, Knomi addresses significant security challenges faced by telecommunications providers. The platform enhances customer authentication, reducing reliance on passwords and mitigating ID and SIM fraud risks. This accolade underscores the solution's robust market position and potential for improving user security and convenience.
Aware, Inc. (NASDAQ: AWRE) will host a webcast on March 1, 2022, at 5:00 p.m. Eastern Time to discuss its Q4 and full-year financial results for the year ended December 31, 2021. The results will be released prior to the call. Interested parties can submit questions in advance via email. The presentation will be available for replay on the company’s investor relations website for 90 days following the event. Aware specializes in biometrics software, providing solutions across various industries including finance, healthcare, and security.
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