Aware Emphasizes 2020 Potential in Q4, 2019 Update

Biometric software and services specialist Aware, Inc. has issued its results for the fourth quarter and the full year of 2019.

Revenues for the quarter came in at $2.4 million, compare to revenues of $4.1 million in Q4 of 2018. Its net result was a loss of $7.5 million, compared to a net income of $0.6 million a year ago.

Looking to the full year, Aware reports revenues of $12.2 million, compared to revenues of $16.1 million in 2018. The company’s net result for 2019 was a loss of $8.3 million, compared to a net income of $1.2 million in 2018.

Commenting in a statement, Aware CEO Robert Eckel acknowledged that the revenue results for the fourth quarter “were below expectations,” explaining that multiple deals’ expected finalizations “slid from the fourth quarter into the first quarter of 2020.” But Eckel highlighted positive steps that the company is taking into the current fiscal year.

“We have increased our emphasis on the front end of the business and have hired a vice president of worldwide sales and are looking to further leverage our multi-modal biometrics domain expertise, unique liveness spoofing prevention technology and customer-managed and integration ready biometrics frameworks, platforms and software building blocks to drive company growth,” he said, adding later, “We plan on making continued investments in engineering, program management and sales and marketing in 2020 to enhance our productized solutions and business development addressing the growing needs for mobile biometric solutions in multiple markets.”

The fiscal update arrives alongside major deployment announcements from Aware, including the news that US Customs and Border Protection is leveraging Aware’s CaptureSuite solution at border checkpoints, and the announcement that multiple banks in the LATAM region are now using Aware’s Knomi authentication platform.

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February 12, 2020 – by Alex Perala