“We continue to see interest in our product offerings in the government, commercial and mobile markets.” – Kevin Russel, CEO, Aware, Inc
Aware, Inc. has issued its results for the first quarter of 2018.
The biometric software specialist brought in $2.9 million in revenues for the quarter, down from revenues of $4.2 million in Q1 of 2017. The company also saw a net loss of $0.5 million for the quarter, compared to a net income of $0.3 million in the first quarter of last year.
The results show little difference in comparison to Aware’s results for Q4 of last year, which entailed revenues of $3.3 million and a net loss of $0.6 million.
Commenting on the results in a statement, Aware CEO Kevin Russell echoed comments he made in the company’s previous fiscal update, acknowledging that the latest Q1 numbers were below the expectations of Aware’s management. “We have a number of opportunities that we are working on that we were not able to close in the first quarter,” he said, adding, “Our pipeline for 2018 looks promising, but we are unable to predict when opportunities will result in revenue.”
In announcing its Q1 results, Aware also indicated that its Board of Directors had approved a buyback program for up to $10 million of its common stock, which will expire at the end of 2019.
April 25, 2018 – by Alex Perala