Aware CEO Kevin Russell highlighted the company’s announcement of Knomi, its new mobile authentication solution based on behavioral, facial, and voice recognition.
Aware, Inc. has issued its corporate update for the third quarter.
Revenues for the quarter came in at $5.9 million, the same as in the corresponding quarter in 2016. Net income meanwhile, decreased from $1.6 million in Q3 of 2016 to $1.2 million in Q3 of this year.
Looking to the first nine months of the year, Aware saw revenues of $13 million, compared to $17.6 million in the first three quarters of last year. Net income came in at $1.9 million for the first three quarters of this year, compared to $3.6 million for the corresponding period in 2016.
In a statement announcing the results, Aware attributed the losses in part to smaller sale sizes and higher R&D expenses. Aware CEO Kevin Russell, meanwhile, asserted that the company’s financial performance was stronger than it had been in Q2 of this year, and highlighted the company’s announcement of Knomi, its new mobile authentication solution based on behavioral, facial, and voice recognition, which Russell said indicates Aware’s efforts to “continue to make investments in our commercial/mobile business”.
Aware demoed Knomi at this week’s Money20/20 event in Las Vegas.
October 25, 2017 – by Alex Perala