ImageWare Maintains Business Trends in Q1 Results

“…ImageWare CEO Jim Miller emphasized the long game, asserting that the company’s business strategy relies ‘on long-term engagements with large organizations,’ the results of which ‘take time to materialize from a revenue perspective.'”

ImageWare Systems has issued its Q1 results for 2017.

ImageWare Maintains Business Trends in Q1 ResultsThe company saw little change from its results at the end of 2016.

Revenues came in at $0.9 million, compared to $1 million for the corresponding period from last year, while ImageWare saw a net loss of $2.7 million, compared to a net loss of $2.3 million in Q1 of 2016.

In a statement announcing the results, ImageWare CEO Jim Miller emphasized the long game, asserting that the company’s business strategy relies “on long-term engagements with large organizations,” the results of which “take time to materialize from a revenue perspective.” Miller said that company’s leadership remains encouraged by “continued strong demand we are receiving behind the scenes”, and that they “anticipate further positive developments in strategic partnerships during the first half of 2017.”

Miller also highlighted ImageWare’s high-profile recognition from Frost & Sullivan for its its GoVerifyID identity platform, and the company’s new agreement to deploy biometric employee authentication technology at five Alaskan airports, a development that occurred after the close of the first quarter.

May 11, 2017 – by Alex Perala